It’s The Interest Stupid!

It’s the Interest, Stupid! Why Bankers Rule the World

Thursday, 08 November 2012 10:10 By Ellen Brown, Truthout | News Analysis

Shredded money and percentage Interest charges are a strongly regressive tax that the poor pay to the rich. A public banking system could realize savings up to 40 percent – allowing taxes to be cut, services increased and market stability created – with banks feeding the economy rather than feeding off it.

In the 2012 edition of Occupy Money released last week, Professor Margrit Kennedy writes that a stunning 35 percent to 40 percent of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35 percent to 40 percent cut of our GDP. That helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get progressively richer at the expense of the poor, not just because of “Wall Street greed,” but because of the inexorable mathematics of our private banking system.

This hidden tribute to the banks will come as a surprise to most people, who think that if they pay their credit card bills on time and don’t take out loans, they aren’t paying interest. This, says Dr. Kennedy, is not true.

To read the rest of this interesting article, go to:

Our comment:  In ancient times, about 3,500 BC, our system of economics began as a debt system.  The ancient Sumerians, the founders of modern western civilization, invented it.  Interest was a common thing, used by tradesmen and business people.  Exact records were kept on baked clay tablets of these transactions.  But there was one difference: the Sumerians knew that simple mathematics showed that interest payments, creating money or credit out of thin air, would eventually take its toll on their society, and all the wealth would eventually end up in the hands of a few.  But they had a solution.  Every six decades or so they reset the counter, and all interest payment and debt was forgiven.  Everyone started over again.  This tradition carried down to the middle ages when the Catholic Church declared “Jubilees”, which were debt forgiveness and time to celebrate economic freedom.  The absolute greed of our 20th century rulers and bankers, who have decided to go for the whole pot of wealth come what may, and our ignorant “leaders” both in politics and religion, have ensured that we have arrived at the tipping point today.  Most of the real wealth in America is owned by a very few at the top.  How long will the serfs allow this to continue?


Could Bitcoin Become the Globalist Digital Replacement For Fiat Currency?

Susanne Posel – FULL ARTICLE

Occupy Corporatism
November 12, 2012

According to their website, Bitcoin is “an experimental new digital currency” that uses “peer-to-peer technology to operate with no central authority.” It is through open source software that Bitcoin can operate. This alternative currency was created by an anonymous person calling themself Satoshi Nakamoto.

As with most incremental changes in our society, the move to cashless transactions has been mostly voluntary. Nearly every business offers the use of debit and credit cards in lieu of cash to pay for products and services. As the digital takeover becomes common place, Americans are unwittingly acquiescing to the furtherance of the cashless society. With this move come dangers that are not discussed in the mainstream. Cashless transactions are glorified, without the dark side brought into the social meme.

The illusion is that this digital currency can allow any “two willing parties to transact directly with each other without the need for a trusted third party”; however while based on the collective control of computers, a “chain of digital signatures” and a “trusted central authority” to keep the monetary system from relying on printed fiat.

According to Deutsche Bank analysts Daniel Brebner and Xiao Fu, gold is “not really a commodity at all.” Berbner and Fu explain: “While it is included in the commodities basket it is in fact a medium of exchange and one that is officially recognized (if not publically used as such). We see gold as an officially recognized form of money for one primary reason: it is widely held by most of the world’s larger central banks as a component of reserves.”

Gold is deemed “good money” and fiat currency is represented as “bad money” because the central banking cartels confuse the worth of paper over precious metals to keep the populace in the dark as to currency value to claim a monopoly over worth and circulation as well as hoard precious metals for consumption purposes.