View Single Post
Old 27-02-2013, 06:33 PM   #194
davebun
Senior Member
 
Join Date: Oct 2012
Posts: 127
Likes: 0 (0 Posts)
Default

"The most sinister and anti-social feature about bank-deposit money is that it has no existence. The banks owe the public for a total amount of money which does not exist. In buying and selling, implemented by cheque transactions, there is a mere change in the party to whom the money is owed by the banks. As the one depositor's account is debited, the other is credited and the banks can go on owing for it all the time. The whole profit of the issuance of money has provided the capital of the great banking business as it exists today. Starting with nothing whatever of their own, they have got the whole world into their debt irredeemably, by a trick. This money comes into existence every time the banks 'lend' and disappears every time the debt is repaid to them. So that if industry tries to repay, the money of the nation disappears. This is what makes prosperity so 'dangerous' as it destroys money just when it is most needed and precipitates a slump. There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth. An honest money system is the only alternative." - Frederick Soddy, Nobel Prize winner (Chemistry), 1921

"A civilization based on a system of parasitic usury-economics will ultimately destroy itself, because fractional-reserve banking combined with compound interest represent some kind of perpetual-motion machine. Our economic system was not designed to, nor was it intended to, function honorably for the benefit and general prosperity of all; it was specifically designed to create a nation of debt slaves under the control of a molesting central bank. The perpetrators of the system understand fully that it is finite and must inevitably collapse in a state of insoluble debt, but by that point they expect to have gained full and indisputable control over everything. The 450 richest people in the world have financial assets equal to the combined wealth of the 3 billion poorest; half of all humanity. The only possible explanation for this is that the international economic system has been subverted and corrupted by fully intentional activities, directed towards undermining national governments and creating institutionalized, privately-owned central banks throughout the world." - [Anonymous]

"While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. Greed and fear of scarcity are being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. In fact, the job of central banks is to create and maintain that currency scarcity. Money is created when banks lend it into existence. When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000." - Bernard Lietaer, former Central Banker (Belgium)

Last edited by davebun; 27-02-2013 at 06:35 PM.
davebun is offline   Reply With Quote