Do you honestly want to buy a house, car, et. knowing that in six months it will be worth far less than you paid for it?
to WHO?... to you? to me? to some economic 'guru' that says so?
the value of MY possessions to me is FAR more than the price tag attached to them...
Do you know where the bank gets the $160,000 for your mortgage? It's very simple. Someone walks over to a computer and types 160,000 beside your name. With only $27.93 of cash reserves for every $10,000 of assets (as of June 2007) the bank has just created the remaining $159,553 of that interest-earning money out of thin air. When, after 30 years of hard work, you pay off your mortgage, the $159,553 vanishes back into thin air. Not so the interest however. It vanishes into the banker's pocket. Chartered (i.e. privately owned) banks have created about 93 percent of our total money supply ($11.3 trillion as of Sept 2005) in exactly this way. But the cash reserves in their vaults amount to only a paltry $791 billion. (less than $32 billion of cash circulates in public hands). This is called fractional reserve banking, and it's the greatest scam of all time because it creates debt for no reason other than to enrich the banking class. Its long term effect - as becomes clearer every day - is to steadily suck wealth out of the community and into the hands of a few people, a fact that bankers and most politicians stubbornly refuse to admit. Charging interest on money created out of nothing is, in the main, unjust and immoral, and Plato, Aristotle, Cicero, the Bible (Deuteronomy 23:19), the Koran (2:275-278), the Catholic Church, many codes of law and most writers on morals have condemned it for more than two thousand years. The historical name for this evil is usury. Nevertheless bankers enjoy peace of mind because they know that the public thinks they merely lend out the savings of their depositors. In fact, banks create more than 95 percent of all deposits, for when a bank creates a loan it simultaneously creates a deposit. What banks do to justify the accusation of being economic parasites is to lend out interest-bearing money of their own creation using a very thin sliver of legal tender (cash) to back it up.
Unfortunately, there's never been a reform of the banking system while the banks were in the driver's seat. They must first be rendered helpless by an economic collapse. Now that it just might be here two facts should be etched in our minds:
1) a government can lend interest-free money into existence by borrowing from its own bank, The Fed, - unfortunately The Fed has become a puppet of the financial elite, despite its mandate to serve the interests of all Americans ,or... it can borrow interest-bearing money into existence by borrowing from privately owned banks.
2) a government that borrows with interest from private banks, when it can create its own interest-free money, is a government of idiots or thieves.
Unfortunately, people find it easier to believe a lie they've heard a hundred times before than to believe a truth it's hearing for the first time. Maybe the words of Thomas Jefferson
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs"
will stop any scepticism you may feel when I say that the chartered banks, in collusion with The Fed and with the complicity of the government, are riding on the backs of the citizens of this country.
The following youtube video(s) are much more eloquent than I could ever be on the subject.
P.S. There are 5 videos
