View Single Post
  #5  
Old 09-21-2005, 11:34 AM
this this is offline
Senior Member
 
Join Date: Feb 2005
Posts: 281
Default Re: Grand Prize by Charlie Reese

I just wanted to add to this thread about money, what I think is an important point.

And that is that with our system of money being almost 100% credit, we have a problem, and that is that the interest payments for that credit do not exist. They were never created when the private banks created the credit.

Our whole money supply is credit extended on paper (or virtual) against the collateral of houses, businesses and governments ability to tax.

With this defunct system, the only way the interest payments can be found in the economy, is to inflate the money supply. It is not a good system, but inflation is the only way to avoid a system crash that interest payments require.

There's a good book out there that explains money:

http://www.wwdemocracy.nildram.co.uk/democracy_today/grip_death.html
Reply With Quote