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Money as Debt - Ldow

Page history last edited by PBworks 15 years, 5 months ago

Without debt, without loans, there is no money. We have been mistaken for so long that if we get rid of all the debt that our nation's economy is ceasing to be in the debt they are in then everything will be ok. That is the complete opposite then what seems to be the case. In the example of the great depression, no one was taking out loans, therefore the money was running dry. That is exactly what is happening today. Money is created from the money that is promised to be paid back in loans, which is precisely why we have interest in our loans. However when we did it was more or less a way to con people out of money. At one point, goldsmiths realized that due to this 9:1 ratio in the Central Bank Systems they could charge interest on the gold that did not neccesarily exist therfore becoming incredibly wealthy from the interest of gold that did not even exist. You can already begin to see the corruption in our economy slowly progress. 

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