This article is a neat summary of alternatives to ‘debt based’ money, created ‘from thin air’, and unscrupulously ‘sold’ as ‘money’, as if it were Cash, minted by Nation States, when, in fact, it comes from private bank(st)ers.
Posted in Bank of England, Bank of International Settlements, Blogosphere, Borrowing, Campaigning, Central Banks, Debt, Equity, Federal Reserve, Fractional reserve banking, Interest, Money supply, United States
In this one-minute video Congressman Dennis Kucinich says clearly what Barack Obama should be doing, if the Fed was to operate in the public interest…
According to this article Bailouts expected to add £1.5 trillion to national debt as tax take tumbles in Times Online on February 20, 2009, “official accountancy rules”, few of the nationalised banks’ assets can be counted in the Government’s books.
The big number game continues to be played, to camouflage what is really going on.
Most people don’t understand the significance of the national debt: it is used to increase the money supply, so that people can buy ‘gilts’ and thus obtain interest as passive income.
‘Gilts’ or ‘national bonds’ are issued by the Government, backed by the Nation as an entity. But unfortunately the taxpayers of the Nation do not benefit. Only the people who can buy those papers.
Today’s article in the Telegraph may bring it home: people who are in a position to dip into the money pot, do so:
Government stakes in RBS and Lloyds could add £1.5 trillion to UK national debt
These are ominous words behind which to hide stark realities, above all, of control. Debt and Credit are controlled by banks, equity is controlled by shareholders. Together, they form “institutions” that live longer than their people. They have mission statements, while we, the taxpayers, may be looking for a purpose in our lives.
Money used to be a medium of exchange to facilitate trade. Since it’s virtually only credit by now, it has become a means to control, mainly ownership: access to land, property and other natural resources, rights to ideas and “intellectual property”.
Wealth for all? Millennium Goals? Freedom? Democracy? Stewardship for planet Earth?
It’s a great challenge not to participate in that schizophrenia that we’re are presented with. Still, we live in “interesting” times!