Protocols of the Learned Elders of ZION
"Cabal Meeting Minutes"
Translated in 1905 from the Russian of NILUS
🕮 BOOK ARCHIVE (1905): Protocols of the learned elders of zion... ⛧PROTOCOL 1: Right lies in might... ⛧PROTOCOL 2: Economic Wars... ⛧PROTOCOL 3: The Symbolic Snake... ⛧PROTOCOL 4: Stages of a Republic... ⛧PROTOCOL 5: Centralization of Government... ⛧PROTOCOL 6: Monopolies... ⛧PROTOCOL 7: Object of the intensification of armaments... ⛧PROTOCOL 8: Ambiguous employment of juridicial rights... ⛧PROTOCOL 9: Application of masonic principals in the matter of re-educating the peoples... ⛧PROTOCOL 10: The outside appearances in the political...
⛧PROTOCOL 11: Programme of the new constitution... ⛧PROTOCOL 12: Masonic interpretation of the word "freedom." Future of the press... ⛧PROTOCOL 13: The need for daily bread... ⛧PROTOCOL 14: The religion of the future...
⛧PROTOCOL 15: One-day revolution over all the world... ⛧PROTOCOL 16: Emasculation of the universities... ⛧PROTOCOL 17: Advocacy. Influence of the priesthood... ⛧PROTOCOL 18: Measures of secret defense... ⛧PROTOCOL 19: The right of presenting petitions and projects...
⛧PROTOCOL 20: Financial Program... ⛧PROTOCOL 21: Internal loans. Debit and taxes... ⛧PROTOCOL 22: The secret of what is coming... ⛧PROTOCOL 23: Reduction of the manufacture of articles of luxury... ⛧PROTOCOL 24: Confirming the roots of King David...
PROTOCOL 20
PROTOCOL NO. 20
PROTOCOL NO. 20
To-day we shall touch upon the financial programme, which I put
off to the end of my report as being the most difficult, the crowning
and the decisive point of our plans. Before entering upon it I will
remind you that I have already spoken before by way of a hint when
I said that the sum total of our actions is settled by the question of
figures.
When we come into our kingdom our autocratic government will
avoid, from a principle of self-preservation, sensibly burdening the
masses of the people with taxes, remembering that it plays the part of
father and protector. But as State organisation costs dear it is neces
sary nevertheless to obtain the funds required for it. It will, therefore,
elaborate with particular precaution the question of equilibrium in
this matter.
Our rule, in which the king will enjoy the legal fiction that everything
in his State belongs to him (which may easily be translated
into fact), will be enabled to resort to the lawful confiscation of all
sums of every kind for the regulation of their circulation in the State.
From this follows that taxation will best be covered by a progressive tax
on property. In this manner the dues will be paid without straitening
or ruining anybody in the form of a percentage of the amount of
property. The rich must be aware that it is their duty to place a part
of their superfluities at the disposal of the State since the State guar-
antees them security of possession of the rest of their property and the
right of honest gains, I say honest, for the control over property will
do away with robbery on a legal basis.
This social reform must come from above, for the time is ripe for
it it is indispensable as a pledge of peace.
The tax upon the poor man is a seed of revolution and works to
the detriment of the State which in hunting after the trifling is missing
the big. Quite apart from this, a tax on capitalists diminishes the growth
of wealth in private hands in which we have in these days concentrated
it as a counterpoise to the government strength of the goyim
their State finances.
A tax increasing in a percentage ratio to capital will give a much
larger revenue than the present individual or property tax, which is
useful to us now for the sole reason that it excites trouble and discontent
among the goyim.
The force upon which our king will rest consists in the equilibrium
and the guarantee of peace, for the sake of which things it is indis-
pensable that the capitalists should yield up a portion of their incomes
for the sake of the secure working of the machinery of the State.
State needs must be paid by those who will not feel the burden and
have enough to take from.
Such a measure will destroy the hatred of the poor man for the
rich, in whom he will see a necessary financial support for the State,
will see in him the organiser of peace and well-being since he will
see that it is the rich man who is paying the necessary means to attain
these things.
In order that payers of the educated classes should not too much
distress themselves over the new payments they will have full accounts
given them of the destination of those payments, with the exception
of such sums as will be appropriated for the needs of the throne and
the administrative institutions.
He who reigns will not have any properties of his own once all
in the State represents his patrimony, or else the one would be in
contradiction to the other; the fact of holding private means would
destroy the right of property in the common possessions of all.
Relatives of him who reigns, his heirs excepted, who will be maintained
by the resources of the State, must enter the ranks of servants of
the State or must work to obtain the right of property; the privilege of
royal blood must not serve for the spoiling of the treasury.
Purchase, receipt of money or inheritance will be subject to the
payment of a stamp progressive tax. Any transfer of property, whether
money or other, without evidence of payment of this tax which will
be strictly registered by names, will render the former holder liable
to pay interest on the tax from the moment of transfer of these sums
up to the discovery of his evasion of declaration of the transfer.
Transfer documents must be presented weekly at the local treasury
office with notifications of the name, surname and permanent place of
residence of the former and the new holder of the property. This
transfer with register of names must begin from a definite sum which
exceeds the ordinary expenses of buying and selling of necessaries,
and these will be subject to payment only by a stamp impost of a
definite percentage of the unit.
Just strike an estimate of how many times such taxes as these will
cover the revenue of the goyim States.
The State exchequer will have to maintain a definite complement
of reserve sums, and all that is collected above that complement must
be returned into circulation. On these sums will be organised public
works. The initiative in works of this kind, proceeding from State
sources, will bind the working class firmly to the interests of the State
and to those who reign. From these same sums also a part will be set
aside as rewards of inventiveness and productiveness.
On no account should so much as a single unit above the definite
and freely estimated sums be retained in the State treasuries, for
money exists to be circulated and any kind of stagnation of money
acts ruinously on the running of the State machinery, for which it is
the lubricant; a stagnation of the lubricant may stop the regular
working of the mechanism.
The substitution of interest-bearing paper for a part of the token
of exchange has produced exactly this stagnation. The consequences
of this circumstance are already sufficiently noticeable.
A court of account will also be instituted by us and in it the ruler
will find at any moment a full accounting for State income and ex-
penditure, with the exception of the current monthly account, not
yet made up, and that of the preceding month, which will not yet
have been delivered.
The one and only person who will have no interest in robbing the
State is its owner, the ruler. This is why his personal control will
remove the possibility of leakages of extravagances.
The representative function of the ruler at receptions for the sake
of etiquette, which absorbs so much invaluable time, will be abolished
in order that the ruler may have time for control and consideration.
His power will not then be split up into fractional parts among time-
serving favourites who surround the throne for its pomp and splendour,
and are interested only in their own and not in the common interests
of the State.
Economic crises have been produced by us for the goyim by no
other means than the withdrawal of money from circulation. Huge
capitals have stagnated, withdrawing money from States, which were
constantly obliged to apply to those same stagnant capitals for loans.
These loans burdened the finances of the State with the payment of
interest and made them the bond slaves of these capitals. . . . The
concentration of industry in the hands of capitalists out of the hands of
small masters has drained away all the juices of the peoples and with
them also of the States. . . .
The present issue of money in general does not correspond with
the requirements per head, and cannot therefore satisfy all the needs
of the workers. The issue of money ought to correspond with the
growth of population and thereby children also must absolutely be
reckoned as consumers of currency from the day of their birth. The
revision of issue is a material question for the whole world.
You are aware that the gold standard has been the ruin of the
States which adopted it, for it has not been able to satisfy the demands
for money, the more so that we have removed gold from circulation as
far as possible.
With us the standard that must be introduced is the cost of working
man power, whether it be reckoned in paper or in wood. We shall
make the issue of money in accordance with the normal requirements
of each subject, adding to the quantity with every birth and sub-
tracting with every death.
The accounts will be managed by each department (the French
administrative division), each circle.
In order that there may be no delays in the paying out of money
for State needs the sums and terms of such payments will be fixed
by decree of the ruler; this will do away with the protection by a
ministry of one institution to the detriment of others.
The budgets of income and expenditure will be carried out side
by side that they may not be obscured by distance one to another.
The reforms projected by us in the financial institutions and prin-
ciples of the goyim will be closed by us in such forms as will alarm
nobody. We shall point out the necessity of reforms in consequence
of the disorderly darkness into which the goyim by their irregularities
have plunged the finances. The first irregularity, as we shall point
out, consists in their beginning with drawing up a single budget which
year after year grows owing to the following cause: this budget is
dragged out to half the year, then they demand a budget to put things
right, and this they expend in three months, after which they ask for
a supplementary budget, and all this ends with a liquidation budget.
But, as the budget of the following year is drawn up in accordance with
the sum of the total addition, the annual departure from the normal
reaches as much as 50 per cent, in a year, and so the annual budget
is trebled in ten years. Thanks to such methods, allowed by the carelessness
of the goy States, their treasuries are empty. The period of
loans supervenes, and that has swallowed up remainders and brought
all the goy States to bankruptcy.
You understand perfectly that economic arrangements of this kind,
which have been suggested to the goyim by us, cannot be carried on
by us.
Every kind of loan proves infirmity in the State and a want of
understanding of the rights of the State. Loans hang like a sword
of Damocles over the heads of rulers, who, instead of taking from
their subjects by a temporary tax, come begging with outstretched
palm of our bankers. Foreign loans are leeches which there is no
possibility of removing from the body of the State until they fall
off of themselves or the State flings them off. But the goy States do not
tear them off; they go on in persisting in putting more on to them-
selves so that they must inevitably perish, drained by voluntary blood-
letting.
What also indeed is, in substance, a loan, especially a foreign loan?
A loan is an issue of government bills of exchange containing a
percentage obligation commensurate to the sum of the loan capital.
If the loan bears a charge of 5 per cent., then in twenty years the
State vainly pays away in interest a sum equal to the loan borrowed,
in forty years it is paying a double sum, in sixty treble, and all the
while the debt remains an unpaid debt.
From this calculation it is obvious that with any form of taxation
per head the State is baling out the last coppers of the poor taxpayers
in order to settle accounts with wealthy foreigners, from whom it has
borrowed money instead of collecting these coppers for its own needs
without the additional interest.
So long as loans were internal the goyim only shuffled their money
from the pockets of the poor to those of the rich, but when we bought
up the necessary person in order to transfer loans into the external
sphere all the wealth of States flowed into our cash-boxes and all the
goyim began to pay us the tribute of subjects.
If the superficiality of goy kings on their thrones in regard to
State affairs and the venality of ministers or the want of under-
standing of financial matters on the part of other ruling persons have
made their countries debtors to our treasuries to amounts quite impossible
to pay it has not been accomplished without on our part heavy
expenditure of trouble and money.
Stagnation of money will not be allowed by us and therefore
there will be no State interest-bearing paper, except a one per cent.
series, so that there will be no payment of interest to leeches that suck
all the strength out of the State. The right to issue interest-bearing
paper will be given exclusively to industrial companies who will find
no difficulty in paying interest out of profits, whereas the State does
not make interest on borrowed money like these companies, for the
State borrows to spend and not to use in operations.
Industrial papers will be bought also by the government which
from being as now a payer of tribute by loan operations will be trans-
formed into a lender of money at a profit. This measure will stop the
stagnation of money, parasitic profits and idleness, all of which were
useful for us among the goyim so long as they were independent but
are not desirable under our rule.
How clear is the undeveloped power of thought of the 'purely
brute brains of the goyim, as expressed in the fact that they have been
borrowing from us with payment of interest without ever thinking that
all the same these very moneys plus an addition for payment of
interest must be got by them from their own State pockets in order
to settle up with us. What could have been simpler than to take the
money they wanted from their own people?
But it is a proof of the genius of our chosen mind that we have
contrived to present the matter of loans to them in such a light that
they have even seen in them an advantage for themselves.
Our accounts, which we shall present when the time comes, in the
light of centuries of experience gained by experiments made by us
on the goy States, will be distinguished by clearness and definiteness
and will show at a glance to all men the advantage of our innovations.
They will put an end to those abuses to which we owe our mastery
over the goyim, but which cannot be allowed in our kingdom.
We shall so hedge about our system of accounting that neither the
ruler nor the most insignificant public servant will be in a position
to divert even the smallest sum from its destination without detection
or to direct it in another direction except that which will be once
fixed in a definite plan of action.
And without a definite plan it is impossible to rule. Marching along
an undetermined road and with undetermined resources brings to ruin
by the way heroes and demi-gods.
The goy rulers, whom we once upon a time advised should be distracted
from State occupations by representative receptions, observances
of etiquette, entertainments, were only screens for our rule. The ac-
counts of favourite courtiers who replaced them in the sphere of affairs
were drawn up for them by our agents, and every time gave satisfaction
to short-sighted minds by promises that in the future economies
and improvements were foreseen. . . . Economies from what?
From new taxes? were questions that might have been but were not
asked by those who read our accounts and projects. . . .
You know to what they have been brought by this carelessness, to
what a pitch of financial disorder they have arrived, notwithstanding
the astonishing industry of their peoples. . . .
