Posted on January 10, 2013 by Sabine Kurjo McNeill
This article is a guest contribution that illustrates how the language of personal debts is camouflaged when talking about national debts:
- the repayment by personal debts is legally enforcible
- the repayment of national debts doesn’t matter as long as interest payments reach the bank accounts of those with ‘vested interests’…
Now, however, as people are beginning to wake up to the impossibility of ‘growing debt’ forever, ‘debt ceilings’ are used
- either to bankrupt governments or
- at least to reduce public spending.
Hopefully more and more people see how money has become a tool to control and has ceased to be a medium of exchange, let alone a store of value…
Maybe the ease with which ‘money’ is created as debt should be kept separate from controlling a nation’s money supply? Read more »
Filed under: Banks, Central Banks, Credit creation, Currencies, Dollar, Federal Reserve, Government debt, Monetary inflation, National debt, Public debt, Sovereign debt | Tagged: Barack Obama, Bipartisan Policy Center, Congress, Jay Carney, Treasury, United States, United States public debt, White House | Leave a Comment »
Posted on September 19, 2012 by Sabine Kurjo McNeill
We are not the first in history
to notice the tension
between the City of London and the City of Westminster…
Page 1 - Page 2 - Page 3 - Page 4
One of the gems on Financial Reform.
Filed under: Bank of England, Government debt, Money as Debt, National debt, Public debt, Sovereign debt | Tagged: Bedford Heights Ohio, City of London, City of Westminster, England, government debt, national debt, Page 2, Page 3 (film), Paris, public debts, Recreation | 3 Comments »
Posted on June 30, 2012 by Sabine Kurjo McNeill
An interesting chart about the UK national debt by an interesting organisation: the Economic Research Council - with an explanation here, about the huge increase. How come I just read today that the PM claims the national deficit has been cut by more than a quarter? I suppose the deficit is not equal to the debt in his mind…
Also interesting is the previous chart:
Filed under: Government debt, National debt, Public debt, United Kingdom | Tagged: Business, Debt, Financial Planning, Financial Services, Government, government debt, United States, United States Treasury security | Leave a Comment »
Posted on August 1, 2011 by Sabine Kurjo McNeill
It’s too bad that most people don’t appreciate the significance of the national debt. In view of the visualization that simply illustrates the HUGE number of dollars, let me repeat my essential points here:
- Governments always had the right to mint their coins and print their notes
- In 1694, the Bank of England was established to lend the then King the first national debt at 8%; why was the King so naive, one has to ask
- Banks have gradually virtually replaced the interest-free money of governments (Cash) by interest-bearing Credit
- the national debt will never be paid back; but interest payments come in regularly to those who know about the issuance of national debt bonds and can afford to buy them
- by continuously increasing the need to pay more and more interest, the economy acquires an artificial pace and speed
- it is effectively a deep betrayal of the taxpayer who is made to believe that his taxes are the income of the state, when, in fact,
- taxes are only a share of the income of the State
- borrowing is the other source of income that could be entirely be replaced by governments printing their own money.
The argument that ‘printing money’ means creating ‘inflation’, is not accurate, since there are two kinds of inflation to consider:
- price inflation
- monetary inflation, i.e. the increase of the money supply.
The wise way would be to reduce the share of Credit in the money supply and to watch the Cash : Credit ratio go towards 50/50, as it was before WWII.
Here’s the visualisation of the US National Debt.
Filed under: Central Banks | Tagged: Bank of England, Economic, Finance, Government, government debt, Tax, United States, United States public debt | 5 Comments »
Posted on July 30, 2011 by Sabine Kurjo McNeill
Here is an interview by Iranian Press TV with Michael Burns, an American economist.
While he doesn’t answer the questions particularly well, at least the gist of what he’s saying is
- that money is created from nothing and sold for “interest”
- that the Fed didn’t solve the ‘crisis’ in 2008
- that the American people were lied to.
Filed under: Central Banks, Credit creation, Economics, Federal Reserve, Government debt, Money as Debt, National debt, Public debt, Sovereign debt | 7 Comments »
Posted on February 15, 2011 by Sabine Kurjo McNeill
This article spells out in no uncertain terms what’s happening:
- the EU controls its member countries
- the IMF controls the rest of the world
- both use public debts as their medium of control.
Filed under: Bank for International Settlements, Central Banks, International Monetary Fund | Tagged: EU, IMF, public debts | Leave a Comment »