War on want

1 comment from readers

JackD
17 March 2008 at 12:11

97% of All Money is Created out of THIN AIR as Loans by the Private Banks

Here are some facts that you will not find in the media:

1. In the private bankers debt-based money system that we are made to use, 97% of money circulating was originally created as computer ledger entries by private commercial banks when we take out loans and mortgages. It has no tangible existence outside the banks interacting computer systems because we withdraw hardly any of it in the form of Government created cash. This system is replicated in very similar forms in virtually every developed country, the world over.

2. No borrowing in this system means no money. When the commercial banks lend “money” its NEW Number Money (existing as data only) they created the moment the amount appeared in the “borrower’s” account. No depositor is ever sent a letter saying their money is temporarily unavailable because its been lent to someone else. No-one else’s account was touched, reduced or affected. Meanwhile not one person in a hundred grasps the fact that our governments have all permitted private banks to create over 95 percent of our money supply bringing huge profits to them and endless debt to us. Obviously there will not be enough money to pay the interest as the interest has to come from the same source, (further money creation by private financial institutions with even more interest attached). So national and personal debt accelerates and the overall interest due also rises with time. This is the real reason why we are told the economy always has to grow. Present UK government debt mostly to the private banks is £0.5 Trillion, up from £90 Bn in 1980 and £26 Bn in 1960.

3. For government, taxing the people helps pay the interest bill and that is why overall taxation is always rising. Much of our taxes go straight into the pockets of the super-rich international bankers to pay the interest on the "money" (data) they have "lent" and created out of thin air.

4. Banks are allowed to create money OUT OF NOTHING at virtually NIL cost to them and charge all borrowing individuals, businesses and governments interest on it. This is because it only circulates as data between banks' computers and not as cash which they would have to pay the government for. This freely created intangible data "money" circulates when you get paid your salary by bank computer transfer or when you use your cards, direct debits, cheques, CHAPS payments etc. Look into "fractional reserve banking". Google "electronic money creation", "webofdebt", "prosperityUK", “Monetary Reform”.

I know its hard to get your mind round when none of our corporate media talks about it, hardly any MPs know about it and it goes against everything you've assumed or been taught. 99.99% of people assume that banks & building societies lend out money that their other customers have deposited, or that they've borrowed it from the Central Bank, (BoE in UK). We demand of our governments fair money systems. Money creation must be taken out of the hands of the money masters and into the hands of the people, "where it properly belongs." (Abraham Lincoln).

If you don't believe me & you don't want to bother researching the sources I have quoted then:

For a succinct explanation visit http://www.basicincome.com/basic_banks.htm

AND To watch an impressive explanatory FILM, (needs headphones):

visit http://www.youtube.com/watch?v=cy-fD78zyvI

OR Google "Money as Debt" to watch another 50 minute animated film.

Then Act.