The Babylonian Woe
The Babylonian Woe, A Study of the Origin of Certain Banking Practices, and of their effect on the events of Ancient History, written in the light of the Present Day. The Babylonian Woe is a book authored by David Astle from Canada. David Astle left this dimension a few years ago. The entire 200 page book can now be downloaded from here
John Turmel wrote a very good book report on The Babylonian Woe and posted it at his website.
Below are a few paragraphs from that book review:
"THE BABYLONIAN WOE" by David Astle
David Astle's "The Babylonian Woe" is the finest book on the history of money in antiquity that I've ever read. In this scholarly work, he has presented to the world a history of the effects of monetary mechanics in very ancient times. It illustrates how, even in the earliest times of which written record remains, the days of Babylonia or before, a so-called monetary science undoubtedly existed; being then, as in today, never more than as instrument by which its secret and cynical controllers wittingly influenced the destinies of individuals, nations, and empires as to (temporary) glory or final
This important and well-documented work is a most useful reference book; complementing any study of Economic or Monetary history. It will be a great asset to learned societies, top management, and self-teaching individuals in all parts of the world.
In his preface, Mr. Astle wrote:
"In almost all of books of reference on the history of money was practically no clear approach to the subject of money and finance, or to those exchange systems that must have existed in order that the so-called civilizations might come to be. In the odd case where the translations of the texts might reveal some key clue, no more special emphasis was placed herein than might have been placed on the mention of a gold cup, a ring, a seal, or some exquisite piece of stone work.
In almost all of the works of the great archaeologists and scholars specializing in the ancient civilizations, there is a virtual
silence on that all important matter, the system of distribution of food surpluses, and surpluses of all those items needed towards the maintenance of a good and continuing life so far as were required by climate and customs.
On the all important subject of the consequences of the creation and issuance of money by private persons as opposed to its creation and issuance according to the will of a benevolent, instructed and dedicated ruler, almost no speculation seems to exist in ancient or in modern times."
JCT: "The situation is just as if future historians, upon studying today's economy, found that there were no "economics" textbooks explaining how banking worked. Considering how many such textbooks
there are, they would also find it quite mystifying.
I will be studying his book in conjunction with Professor's Carroll Quigley's book "Tragedy and Hope where he mentions what he
calls "unorthodox" financial methods as opposed to "orthodox" financial methods. They can be be distinguished by the fact that
"orthodox" finance has governments allowing banks to create the money and then borrowing that money from them at interest to create massive growth of public debt whereas "unorthodox" finance has government Treasuries create the money and borrowing that money from the Treasury without interest to create a stable debt where all payments go against the principal.
In anticipation of a major improvement on the current unsafe engineering design of money, I will be arguing that the unorthodox financial methods we will be studying are better than the orthodox financial methods that now are enslaving all the planet's nations to insurmountable debt." (snip) ...
Read the complete book review at John Turmel's website at this url: