If you and me did this we’d be in jail for counterfeiting. This is done by privately owned banks outside of government regulation through a legal loophole. Nobody elected them to make money. The amount they created hasn’t just diluted the money supply but superseded it by a whopping 291 times.
When you go the bank for a loan, most people think they are borrowing other people’s money, money that those other people have deposited with the bank after working hard and saving it. So paying interest for the privilege of using someone else’s money seems fair. But as this Bank of England article says, “the […]
Max Keiser and Stacey Herbert on the Global housing bubble! This is what is happening in Auckland and Christchurch too. It is simple. Money is created the moment you put your signature on a mortgage or loan document from a bank. They create it out of thin air and charge you interest on it. You […]
Here is Ellen Brown, writer of Web of Debt, on the financial situation of Japan. Japan’s massive government debt conceals massive benefits for the Japanese people, with lessons for the U.S. debt “crisis.” In an April 2012 article in Forbes titled “If Japan Is Broke, How Is It Bailing Out Europe?”, Eamonn Fingleton pointed out […]
Al Jazeera on money, how it’s created and why we should take the power of money creation away from the private cartel. Hat-tip Beyond Money blog