Gold & Diamonds

Cecil Rhodes

En ring att sämja dem,
en ring att främja dem,
en ring att i mörkrets vida riken tämja dem -
i Mordors land, där skuggorna ruva.

J.R.R. Tolkien

Monetary reformer

It was in the field of monetary reform that Tolkien displayed his most passionate concern. His indignation about the evil of usury - the creation of money out of nothing and then lending it out at interest - is reflected repeatedly:-

‘There should only be one source of money: one fountainhead from which flows the nation's blood to vitalise commerce and industry, ensure economic equity and justice and safeguard the welfare of the people... In other words, it has always been and still is our contention that the prerogative of creating and issuing the money of the nation should be restored to the State.’ (3/10 August 1956, page 48)

Utilising the above background, a brief exegesis of The Lord of the Rings may be attempted. The centre of all evil is the Dark Lord Sauron, who has enslaved the people of Middle Earth through the rings of power. There are seven rings for the dwarf lords, five for the elven kings, nine for mortal men, and one to rule and bind them all in darkness and slavery forever. These gold rings were ‘forged’ in the fires of Mount Doom and are symbolic of the central banks and their monopolistic powers, which enable them to create money out of nothing and lend it out at interest to the gullible people. With their unlimited financial power, they are able to control the mass media and spellbind the general public with their propaganda. Eventually good prevails over evil and the Ringwraiths, the Orcs and Uruk Hai monsters are defeated.

En ring att sämja dem,
en ring att främja dem,
en ring att i mörkrets vida riken tämja dem -
i Mordors land, där skuggorna ruva.