Public Sector Debts and their Absurdity

 

English: HM Treasury Crest (Photo credit: Wikipedia)

Social Credit is the antithesis to Public Debts.

The Absurdity of the National Debt was already published by the then Duke of Bedford in 1947 but didn’t make a difference.

To the contrary: the dependency of Governmental budgets on Public Sector Borrowing Requirements (PSBR) kept increasing over the decades. In other words: Governments continue to sanction public debts for vested interest payments.

This chart published by the Economic Research Council shows the absurdity in nowadays terms, covering 2010 – 2060 in five different population scenarios.

This chart covers the past years since 1999, when HM Treasury started to publish budgets in a similar way every year.

“Interesting” how the interest costs rose above the defence costs in the 2008 crisis when ‘other’ costs began the ‘austerity cuts’…

The difference that the national debt makes is the amount of vested interest payments!

Related articles

• 138 Years of Economic History Show that It’s Excessive PRIVATE Debt Which Causes Depressions (zerohedge.com)
• Repudiating the National Debt (chasvoice.blogspot.com)
• Hamish McRae: Rising debt risks UK’s safe haven status (independent.co.uk)
• David Cameron dodges debt target question (independent.co.uk)
• Miliband confronts Cameron on pledge to get national debt falling by 2015 (guardian.co.uk)

Debt: the First 5000 Years – a new book about an old problem

From David Graeber, the author:

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Hello, friendly strangers, I’m delighted to announce my new book….

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DEBT: THE FIRST 5000 YEARS

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is finally, finally out!

http://www.amazon.co.uk/Debt-First-5-000-Years/dp/1933633867

This is a work of scholarship, and politically engaged, but it’s also an attempt to break out of the usual academic and activist ghettoes, and I wrote it that way because I think that there’s a conversation we need to be having, not just nationally but also globally, that we began to have for a few months after the financial crash of 2008, and which has, since, been indefinitely postponed.

The best 3-minute video on the “creation of money” from thin air

Perfectly brilliant animated video:

• on a British site
• as “Plan B” for the British economy
• suggesting to cut bonuses and benefits to bankers..

Too much common sense!…

Billions for the Bankers – Debts for the People

The Real Story of the Money-Control Over America is an article by Pastor Sheldon Emry (1926 – 1985). If you have trouble with the server of freedom domain, please try here.

It’s an excellent and bold text with the following titles:

1. Money is Man’s only “Creation”
2. Money “Creating” is profitable
3. Adequate Money Supply is Needed
4. The Bankers’ Depression of the 1930s
5. Money for Peace? NO! Money for Wars? Yes!
6. Power to Coin and Regulate Money
7. How the People Lost Control to the Federal Reserve
8. More Disastrous than Pearl Harbour
9. They Print it – We Borrow it and Pay them Interest
10. And there’s More
11. And there’s Still More
12. The Interest Amount is Never Created
13. If $60,000 is borrowed,, £255,931.20 must be paid back (14%)
14. Small Loans do the Same Thing
15. This is why Bankers Prosper in Good Times or Bad
16. The Cost to You: Evnetually, Everything!
17. For the Gamblers among my Readers
18. Yes, it’s Political, too!
19. Mounting Debts and Wars
20. And there’s More
21. The Constitutional Way – Every Citizen a Stockholder
22. No Banker’s Plunder
23. Stable Money
24. Citizen Control
25. A Debt-Free America
26. Why You Haven’t Known
27. Controlled News and Information
28. Tell the People
29. Audit the Federal Reserve System?
30. Why Haven’t they Told You?
31. What some Famous Men have Said about the Money Question

An excellent read by a remarkable person!

Mervyn King’s view on ‘the new politics’

This blog entry by Channel 4 economics editor Faisal Islam indicates how the Bank of England pulls the real financial strings behind the political scene and how the City of London runs Westminster and thus the country, not to say the world.

If only it was common knowledge that

1. the first national debt was established in 1694 by setting up the Bank of England; see http://bit.ly/aNRGPw; it resulted in a general debt-based economy world-wide

2. the purpose of the crisis was revealed by the 10-year budget analysis and the “kink” in 2008; see http://bit.ly/aGrAbn

3. there are fundamental differences between the Bank of England’s “quantitative easing” http://bit.ly/cVPxOJ and the Treasury “printing money”: interest, aka vested interests of greed and unaccountability.

May more and more people wake up and understand

• a Nation’s money supply is fuelled from a number of sources
  • central banks
  • banks and other financial institutions
• a Government’s budget is only a certain share of the whole of the supply – generally around 40%
• governments issue money as Cash aka M0,
• but they “prefer” to borrow, pay interest and charge taxes – for the benefit of bank(st)ers who issue money as Credit out of thin air and charge interest for it….

Follow the money and welcome to hopefully a new level of disillusionment!

A Banking System We Can Trust (!?)

This article is written by two professors of economics at Boston University. Thus it does not address the “fuel” that flows through the economy. It is “watered down” by “credit money” for the benefit of the financial economy, while clogging up all activities of the real economy.

Making people responsible rather than companies is a good beginning and is part of the system that has evolved, mainly by design, relying and influencing human nature such that it is a call to our conscience, no matter where we stand – at the helm or in the wake of capitalist boats…