posted on Nov, 23 2007 @ 09:41 AM
Simple Explanation of a Financial Meltdown.
(And How to Avoid It!)
As most of you know, here in the United States we have what is called "legal tender". Whatever the lawyer definition of that word means, to people
it simply means "This is the money."
We have been taught to use it, trust it, and believe anything else is counterfeit.
The one thing we haven't been taught, which all of us must know, is this: The federal reserve bank and the treasury work together to create the
currency we call "money". THIS IS THE ONLY SOURCE OF CASH.
This money is put into the economy by means of a LOAN. Along with this loan is attached interest (of course!).
Now... do this little thought experiment with me. Since the banks that brought money into existence loaned it to us, at interest, how do we get the
interest to pay them back?
The answer is, WE CAN'T. Well, not exactly. The bank is always there, happy to LOAN us more money when we need it.
So to pay the previous loans back (and their interest that comes with it) we have to go to the bank again and take out ANOTHER LOAN. Now we have
enough to pay them back, but we are also in debt more.
It doesn't take a genius to see that this system can't go on forever. There will be a day where the interest on all the loans will get so big that
EVERY DOLLAR WE MAKE WILL BE REQUIRED TO KEEP UP ON INTEREST PAYMENTS.
Now there's the problem. That day is closing in. When will it be? No one knows for sure, but there are signs that it is happening.
The real nasty thing is that once all the buying and selling is done you find out who is holding all the real assets, and who is holding nothing but
debt. This has been seen before in history, and it always goes like this: the criminals own everything, and the hard workers in society end up with
nothing at all.
See, we the people have organized and built all the things that have value in society. So why should we be in debt to anyone for having built this
world? It doesn't make any sense.
Further, those who have scammed us and ended up "owning" everything are no different than other criminals and thieves. What they have possession of
in terms of the law they do not possess in terms of justice.
So we must ask ourselves, are we going to keep participating and supporting a system which is robbing us blind, and turning us all into slaves?
Or will we do the alternative?
For that matter, what IS the alternative?
Good news! It's SIMPLE. It's EASY. You ready?
FORBID THE CREATION OF MONEY AS LOANS,
AND FORBID COMPOUND INTEREST.
Just do those two things, and the world will right itself.
Common sense will tell you that these two common practices are disastrous. If you allow one person the right to create money but only if they can put
you in debt for using it, it stands to reason that soon those who use this money will be in debt to the creator. Also, no one should be allowed to
sit on their rear end and let the mere fact that they have money make them more wealthy. The wealth of one man growing on the labor of others is just
a clever form of slavery. You don't want to be a slave, do you?
So, how do we use money in the new system? Simple. We create money as we see fit. We do NOT let profit-run investment bankers create money as THEY
One example can be found in Ithaca, New York:
Many communities are giving up waiting on large corporations or government to invest or provide jobs, and are instead building on their own strengths
The people of Ithaca have done so by issuing their own paper currency, called Ithaca HOURS. Residents list the goods or services they have to offer
in a large catalog - and then use the HOURS they earn to purchase goods and services from others. For some, this barter system provides a crucial
margin of financial support. For others, it's a great way to meet people and build a sense of community. All find their spending habits redirected
Here in Ithaca, New York, we've begun to gain control of the social and environmental effects of commerce by issuing over $50,000 of our own local
paper money, to over 950 participants, since 1991. Thousands of purchases and many new friendships have been made with this cash, and about $500,000
of local trade has been added to the Grassroots National Product.
We printed our own money because we watched Federal dollars come to town, shake a few hands, then leave to buy rainforest lumber and to fight wars.
Ithaca HOURS, by contrast, stay in our region to help us hire each other. While dollars make us increasingly dependent on multinational corporations
and bankers, HOURS reinforce community trade and expand commerce that is more responsive to our concern for ecology and social justice.
Here's how it works. The Ithaca HOUR is Ithaca's $10 bill, because $10 per hour is the average of wages/salaries in Tompkins County. These HOUR
notes, in four denominations, buy plumbing, carpentry, electrical work, roofing, nursing, chiropractic care, child care, car and bike repair, food,
eyeglasses, firewood, gifts, and thousands of other goods and services. Our credit union accepts them for mortgage and loan fees. People pay rent
with HOURS. The best restaurants in town take them, as do movie theaters, bowling alleys, health clubs, two large locally-owned grocery stores, and
30 farmers' market vendors. Anyone may use HOURS, and hundreds have done so.
So, easy as that. We don't have to overhaul society. We just have to change our minds. Once a society decides to use sound money, then sound
business practices follow, followed by sound economies, stable societies, and freedom and prosperity for all.
Let the crooks deceive you, and we're all in a mess.
It's our choice.
[edit on 23-11-2007 by dionysius9]