This seven-minute video shows better than any other medium how devastating the effect of compounding interest upon interest is.
The trouble is that, by now, brainwashing (rather than education) has been so successful that everybody thinks ‘money’ must be borrowed. At interest. Nobody asks where the interest is supposed to come from.
And there is a big difference whether
- you and I borrow for our personal or small business needs (little money)
- whether banks and central banks borrow (making money out of money aka usury)
- and whether the Government borrows ‘big’ money
- for its own needs
- the provision of public services
- the compensation for shortcomings provided by public officials
- to ‘run’ the economy – which it hardly does, compared with the effect of money as debt.
Yes, it’s about ‘big’ money and ‘little’ money, and it’s about long and short time frames. That’s what the video shows!
‘Austerity cuts’ are far from necessary. But The Bradbury Pound is not known, since it is not taught by any economist. For the bank(st)ers do their best to camouflage what they are doing: create money from thin air and charge interest for it.
The big question is: why do all politicians seem to fall for this ‘trick’ such it has been beautifully institutionalised into the Debt Management Office?
The history of the national debt is published here. But who benefits is not published, i.e. the recipients of interest payments!
- PAUL MCCULLEY: Fiscal Austerity Today Makes As Much Sense As Putting An Anorexic On A Diet (businessinsider.com)
- 10 Good Reasons for Monetary Reform (positivemoney.org)
- China’s Central Bank Official Calls For New Monetary System (silveristhenew.com)
- Act Before the Bail-In: Now Is the Moment to Seize Public Banking (antioligarch.wordpress.com)
- TODAY: 99th Anniversary of the Bradbury Pound – historic precedence of Government issued ‘Credit’ (forumforstablecurrencies.info)
- The Disturbing Evolution of Central Banking (safehaven.com)
- New video describes “A flaw in the monetary system” (beyondmoney.net)
- A Not-For-Profit World Economy Can Change the Monetary System (positivemoney.org)
Filed under: Banks, Central Banks, City of London, Compound Interest, Credit creation, Debt Management Office, Government budgets, Government debt, Money as Debt, National debt, Public debt, United Kingdom Tagged: | Business, Central bank, Directories, Federal Reserve System, Finance, Government, Interest, Monetary policy