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Xanadu 2012: Global Satisfaction |
Category: Articles 7 comments 20 May 2006 @ 15:01 by swanny : Satis.. 20 May 2006 @ 15:27 by swanny : A Meditation .. 20 May 2006 @ 15:35 by swanny : noonish .. 20 May 2006 @ 22:06 by vaxen : Reasons why: Negative effects of the debt-based money system Any nation, therefore, should realise the consequences of its failure to understand how it is ripped off, controlled and impoverished. Consider this list:– 1. Goods and services are needlessly expensive The cost of borrowing is in the price of all goods and services. This includes the borrowing costs of the suppliers (and the borrowing costs of the supplier’s suppliers) as well as the borrowing costs of government (which make for unnecessarily high levels of taxes all of which, in one way or another, are included in the price of a good or service). 2. Consumers are impoverished Separately from having to pay for the cost of borrowing in goods and services, consumers are impoverished by the cost of their own borrowing be it for a mortgage or a credit card. People have to borrow when they have insufficient income. 3. Inadequate demand As a result of the above, the economy has inadequate demand with consequences for jobs and prosperity. 4. Effects on business The inadequate demand holds down wages, causes job losses, encourages cheap imports and leads to jobs going abroad. 5. Inflation Interest, and the effects of interest, is the biggest cause of inflation. This is usually ignored because people have been conned into thinking that nothing can be done about interest. When interest rates go up, there may be a temporary lessening of inflation as demand is reduced but, in the long run, increased interest rates mean increased inflation. 6. Effects on international trade Exports bring in foreign currency which, for the exporting nation, does not have debt, and interest, attached to it. But when a nation imports, the money used to pay for the imports usually does have interest attached to it. Therefore exports are not mere opposites of imports but, somehow, in order to pay the added interest, every nation must export more than it imports – which is impossible. 7. Third World debt The funds of the International Monetary Fund (IMF) are created out of nothing whereon interest is added. A nation in financial difficulties, therefore, soon ends up repaying (if it can) much, much more than it originally borrowed! Today, the poorest nations borrow and then have to export everything in an endeavour to repay the interest, rather than paying for their own needs. Inevitably, they then have to cut back on their own health and education programmes with disastrous long term effect. 8. National debt In the UK, the National Debt is around £400 billion (and £26 billion in 1960) with an annual repayment of interest of around £20-25 billion. This is such an appalling – and yet, quite unnecessary – sum that little else can be said except that the total National Debt, and the interest payable on it, can be expected to rise steeply, if not exponentially. 9. Insufficiently productive consumers The debt-based money system inevitably ends up concentrating the ownership of productive wealth. A widespread ownership is essential for prosperity and a deepened democracy. 10. No secure income The system does not, and cannot, have a secure income for all individuals. 11. Money is used for speculative purposes, not production Most money today is not created for the purposes of production and new wealth. Rather it is used for speculative purposes building unsustainable bubbles which, when they burst, cause disaster for millions of people. Ignorance The negative effects of the debt-based money system will continue while, around the world, people are ignorant of how they are deceived. Yet people of good faith who understand the deception and who understand how money is created out of nothing and interest added have a responsibility to others to press for change. They should, for example, ask why the example of the New Zealand in 1935 is not being followed today. At an interest rate of only 1%, hydroelectric projects and public housing were financed. Why not today? Furthermore, apparently small things – like the existence of tax havens, for example – might not seem too important. Yet, such havens are often the means by which corporations (using fictitious expensing) deny tax revenue to their host governments and manipulate prices to the disadvantage of suppliers and others. Another example which people often think unimportant is the 100% borrowing allowed for the acquisitions of real property and companies, resulting in inflated asset prices and the dangers of a speculative collapse in which everybody suffers. 20 May 2006 @ 22:35 by swanny : Okay .. 20 May 2006 @ 22:58 by jmarc : I can't get no no no no, hey hey hey but I try what a fool believes he sees No wise man has the power to reason away What seems to be Is always better than nothing Theres nothing at all But what a fool believes he sees... no I havent been satisfied in a while, but the memories of past satisfactions will get me back there I hope. I believe. We can all be fools. Would you be satisfied to smoke the same cigarettes as me/ Ok I don smoke em really but still.. Rock on swanny 20 May 2006 @ 23:53 by swanny : I smoke .. 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