Inescapable Debt

Written on July 4th 2008

The Americans broke away from the British on the 4ht of July. This was for many reasons. but it ultimately was to gain freedom from the unfair treatment of the British King.

One of the major reasons was the British banking system. The British forced the colonies to use British money, but the only way to get that money was to borrow it at interest. And therefore instantly placing American in debt to the British and with a loan that could never be repaid.

This meant that all money came with attached debt. the up shot of which was that if the Americans got all the money they had together they could not repay the loans. which they knew would lead them to being slaves to the British.

Well about 100 years ago, the American president Woodrow Wilson signed the American monetary system over to private bankers who formed the Federal Reserve. This was done primary because of the depression and the gold standard was seen to be at fault. But this really meant that they had introduced the very same system that they fought so hard to escape from, when they left British rule.

It has taken some time to notice the effect, but now Americans have more debt than they have money to repay it. What’s worse unlike the days of old where you could point to the king and say “that’s the guy who stole our money” and rise up against him, the Americans don’t have anyone to point at . It now seems they may well be heading for another depression and it has nothing to do with the gold standard this time. But everything to do with the way money is produced and lent. This time of course the whole world will be effected, as almost all the world economies are tied up with the American Dollar.

Some may think this just conspiracy talk, and much has been added to this by conspiracy theorists (lizard men from outa space?). But if we just ignore them and all the crazy rubbish about secret societies and such and just look at the raw facts, anyone can see how the money enters the system.
A dollar by the federal reserve is printed and then lent to other banks, these banks are charged interested on this dollar. thus more debt exists then there is money to cover it. The only way to repay that debt is to print more money which again comes with more debt. The system will of course eventually rob the average American people of all their real possessions and put it in the hands of a few rich and unelected men. These men are not part of secret societies, they don’t need to be, the system itself just tends to keep them rich. Why? because when the debts are called in those with money and no debts take all the stuff from those with debts. But it’s the guys without debt who get so say when the debts are recalled.

This is something the founding fathers nobly wished to break away from when they formed their country and kicked out the British king.

So does this mean the 4th July is really a hollow celebration. Probably not. it’s more about celebrating being American and America is and can remain a great country. But it does seem the average Americans are becoming less free and more in debt. Sadly there is no king to blame any more.

I have nothing against free markets, the rich, business or indeed America. It is the system itself, I have my problem with. This system of creating more debt than is money to repay it, is like a game of musical chairs or (Russian roulette). It leads to a game where we must all exploit each other in the desperate scramble to avoid being the guy without a chair when the music stops. Well the music is about to stop and there are far fewer chairs than we though. It’s not the fault of anyone, it’s the fault of a game we’ve all been playing.

Is there an answer to solve this problem. If their is, I wish I had it. So without one. I guess we have to get back in the game and hope the music starts again soon.

16th Oct 2008
update after the crash

Seems the house of cards has finally come falling down. And a big surprise (well not that big) is that banks (not the central bank) find they have no money and the IOUs they wrote each other are worthless. But guess what, its us who have to bail them out.

Now we have to ask where is the money actually coming from to do this “bail out”. It’s coming out of thin air, because once again the central bank has to print a load more money. Which it will once again lend at interest to the governments who then give it to the banks. So the situation has just been extended, where will still be more debt than money, the banks may be able to repay it to the government but the government will never be able to repay the central bank.
If this “bail out” does help the economy it will only do so for a while. Eventually it will all come crashing down again and the common people are the ones to suffer as they loose homes, jobs ability to feed themselves. If we want to be free we have to find another way to run the world.

Belief in the money system is the new religion.

A new film just came out called Zeitgeist addendum about this system,it clearly lays out these functions. And goes on to suggest why this system is in place.

Inescapable Debt

Samuel Durkin

Joined October 2007

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Artist's Description

Beware this is a 4am post pub drunken rant. It should be read as such.

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