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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (108796)	6/20/2010 6:51:49 PM
From: Skeeter Bug	3 Recommendations Respond to of 110194

Hawk, let's see - tally sticks successfully worked as debt free money for over 7 decades. ooops, i meant centuries. ;-) youtube.com it gave rise to the biggest empire up until that point in history. within about 60 years of the founding of the bank of england and the ending of the tally stick debt free money system, 75% of the citizenry's tax money was going to pay interest on their debt money system. this required england to dramatically raise taxes that incited a revolution across the pond - perhaps you have heard of that revolution... i'm all for debt free sovereign money and credit money when the credit is lent based upon actual earned wealth of the lender. i am against an oligarch that waves his hand, creates money from nothing and then collects interest that enriches himself simply so society can have a medium of exchange. the idea that a sovereign nation's money supply needs to pay an annual tax to private bankers who do nothing productive to earn their ability to issue debt to the nation is simply so absurd that most people don't "get it" right off the bat. economicedge.blogspot.com youtube.com (the first of 6 lessons - all packed with valuable information even if the narrator is far from a professional) contrarianfaith.blogspot.com contrarianfaith.blogspot.com