Modern world recognize and use two sciences: mathematic and economy. Long time ago, Albert Einstein said: "The hardest thing in the world to understand is the income tax." For every action there is an equal but opposite reaction. Interpretation of Einstein law is very simple: Unfortunately, one of our two sciences is guilty for the worst crimes ever committed.
In simple terms the new money comes into circulation through the banking system, issued as a debt to the banking system. This money is created out of thin air and is backed by nothing. There is a significant difference between a nominal value and printing costs of the money. Here we are talking about enormous profit, also called seigniorage. What's worse, with fractional reserve banking like in Euro area, we have the same money in 50 different places at the same time. In the case of money lending like this one, generated interest on initial deposit becomes unbelievable number.
It's not finished yet: You have to repay public debt, interests, inflation, other hidden taxes, and who knows what else... Finally, world is full of enemies so you have to fight them before they have a chance to attack you. It's a war that you're losing for twenty centuries. What is hidden behind the Central Banks independence and autonomy? Privately owned corporations and lost of "democratic countries "monetary sovereignties?
Some Little-Known Facts
All revolutions have one common thing: no one changed a monetary system. Existence of Bilderberg, Trilateral Commission and similar organizations. On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned
Federal Reserve Bank would soon be out of business. On June 23, 2005, Former IRS CID Special Agent Joseph Banister has been acquitted of tax fraud and conspiracy. The government was unable to prove that US law requires income tax withholding or filing. On September 15, 2005, a Justice of the peace in the southern Italian town Lecce has decided that the Italian Central Bank's practice to retain the seignorage (signoraggio) on paper money for its own profit is illegal and that the money should be turned over to its rightful owners - the citizens of Italy. Existence of hundred of trillions invented values of financial derivatives.
Negative Effects Of Credit Card
The magnetic strip was introduced in 1970 and ushered in the information age and the credit card industry boom which has driven this economy now for decades. Though we don't have a debtor's prison as in the days of Babylonia, nor is usury lawful (though a good argument might be presented that it is from time to time), we do seem to have come full circle. Remember all those farmers back 3000 years ago who went to prison and could not grow thereby starving there countryman? Well, what do you suppose drives our economy? It's credit. And what horrible condition continues to rise in epidemic proportions as a result? It's bankruptcy.
Per an article Can You Afford It? The national balance on credit cards, auto, and other non-mortgage loans rose to a new record figure in April 2001 at $1.58 trillion. Delinquent credit card payments (30 days past due) has risen to new high of 5% delinquency. There is a 17.5% increase in the already staggering number of bankruptcies filed. The credit card has been the single major pivot in creating a boom in bankruptcies. Do you suppose it might be possible to have enough consumers declare bankruptcy so that the entire economy might implode upon itself? It did with the farmers in early civilizations. I would say it is very possible when your castle is built of plastic.
Author Resource:-
Aljosa Duric represents CromAlternativeMoney, a rare and concrete global solution which offering multi-currencies alternative payment system. Crom is based on the concept that the value of money is created not by the one who issues the symbols but by the one who accepts them. Free from usury, our objectives are quite opposite of debt-based money system consequences.
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