Original Poster, I don't know how to take your religious framing of the basic premise but I will say this:
ALL BANKING IS INHERENTLY FRAUDULENT.
All banking is fractional reserve banking.
That is, lending of fictional or counterfeit money.
Or embezzling people into thinking they were paid when they really were not or into thinking they have a given amount of money when they really have
And awarding yourself money (all of which is created in the same manner: out of nothing by banks) for perpetrating this fraud.
It is not just central banking that is inherently fraudulent.
All banking is.
And so is earning a profit. Especially an unearned profit. That is, more than fair pay for the services you provide.
We would not even need profit were it not for the bankers.
Money should be worth more and more as time passes. That is to say, you ought to be able to buy more and more with the same amount of money as time
We would not need to either overcharge our customers or underpay our employees or both.
We could merely work for a living and only demand to be paid what our work or contribution is truly worth, without trying to sucker our customers or
exploit our employees in order to get as much out of them for as little as possible.
This is not so, as you well know.
Despite ever increasing efficiency, automation and productivity gains our money is worth less and less.
Because of the private institutions of fraud chartered by the government to exploit us all.
Issuing money is redistribution of purchasing power. It is a form of taxation. It ought only be within the government's attributes.
What the banking system does is taxation without representation, without consideration (on the part of the banking system) or participation in the
profits earned, by those taxed through the inflation that pays for the loans extended by the banking system.
The banking system, thus, is a shadow government. Serving no-one other than itself and accountable to no one.
Indeed, we are all serfs on its domain.
Which we have given to it out of our own volition and stupidity. And to it we have sold ourselves and our children and our children's children into
We show no mercy or kindness or charity or empathy or consideration to ourselves yet treat the iniquitous parasite as we ought treat ourselves.
The money supply DOES NOT need to grow with the economy.
This is bald faced lie.
What needs to grow with the economy is the ratio between the entire money supply and its smallest possible subdivision.
A ratio which, with the advent of electronic currency such as Bitcoin, can be arbitrarily large, without requiring expansion of the money supply.
And even if you were to claim that the more practical option is to expand the money supply then this ought be achieved by moving the decimal point one
place to the right every so often.
Such that everyone suddenly has and earns 10 times as much money as they did before but everything also costs 10 times as much as it did before and no
net redistribution of purchasing power occurs.
It ought not be achieved, in any way shape or fashion, by arbitrarily loaning some new money printed out of thin air to an elect few at a time and
keeping a fraction of this new money for yourself as interest on the money you created out of thin air and loaned to whom ever.
That is simply counterfeiting of money.
“The bank hath benefit of interest on all moneys which it creates out of nothing.”
William Paterson, founder of the Bank of England in 1694, then a privately owned bank
It is normal and proper for people who worked yesterday be paid more money than people who work today.
Because the work done yesterday enables and gives value to the work done today.
Where would we be today without the work of the man who discovered fire and how to produce it on demand?
Where would we be without the work of the man or men who invented and perfected the wheel?
Algebra and geometry?
The ball bearing?
The internal combustion engine?
The vacuum tube?
That is why the money supply ought to be fixed, unchanging.
If you had not laid the foundation and the ground floor the day before yesterday and raised the walls yesterday you would not be able to build the
roof, today. Would you?
Or it would not make much sense or be of much use, would it?
edit on 2013/10/14 by Pejeu because: (no reason given)