| | | If folk want to get some inkling as to why there's so much financial "disparity" in the Western World today they should consider how the Banks operate .....
A private bank can lend you $100 on the basis that it has ONLY, say, $20 of its own, AND IT CAN CHARGE YOU INTEREST FOR THAT PRIVILEGE !!!
In other words, if a bank is required to maintain gold reserves equal to 20% of deposits then it's allowed to lend the same money 5 TIMES and get interest every time.
And in the world of today those transactions can be done by the bank hitting a few keys on its keyboard, thereby "creating" the money that it lends out and is paid INTEREST ON. No need to PRINT PAPER ANYMORE.
If you want to get insight into what is really BAD about banks, you may want to do some research on the "Bank for International Settlements", the BIS. It is one of the most influential and powerful institutions of the 20th Century, and it played a key role in the formation of the European Monetary Union.
And the IMF is another major culprit in causing much of the financial debt crisis in today's world, and the World Bank is not much better.
And then we have the "Classic Bank" in your part of the world ... THE FEDERAL RESERVE BOARD (FED) ... A legal, PRIVATE, monopoly to control the US money supply for the benefit of A FEW under the guise of "protecting and promoting the public interest" !!! ....
A scheme devised by Paul M. Warburg and subsequently adopted by Congress, following on from a very secret meeting held on JP Morgan's private estate on Jekyll Island and attended by :-
NW Aldrich, HP Davison, CD Norton, AP Andrew, FA Vanderlip, B Strong and PM Warburg.
To put it in a nutshell, CONGRESS TRANSFERRED ITS SOVEREIGN CONSTITUTIONAL RIGHT TO CREATE MONEY TO THE SOLE CUSTODY OF A SMALL GROUP OF PRIVATE BANKERS.
If the USA had established a PUBLICLY-OWNED CENTRAL BANK mandated to serve the interests of the American people, the US Federal Debt could have been ZERO today instead of $16 TRILLION AND RISING !!
What the world of finance and banking needs today is GOVERNMENT-CREATED MONEY (GCM) NOT BANK-CREATED MONEY (BCM).
All BCM has to be repaid WITH INTEREST, whereas GCM can be put into circulation, DEBT FREE, and remains in the money supply PERMANENTLY. |
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