The cause of the current debt crisis is not GOVERNMENT SPENDING.
In fact, the cause is, as usual... debt-based money, issued by private banks, and loaned, AT INTEREST, to people and governments.
The inevitable outcome of money being issued as loans, with interest not created, but payable on the debt... is financial ruin.
A child could get this.
But the economic gurus never seem to get it.
I would be interested to have a reply from each and every one of you, to this question:
Do you agree with my simple statement, that the problem is debt-based money, issued by private banks, and loaned, AT INTEREST, to people and governments?
And therefore, that the solution is debt-free money – interest-free money – issued directly to the people, as needed, to support economic activity?
If it's not as simple as that, I'd like to know what it is that I'm missing.
As far as I'm concerned, it's a case of "the emperor has no clothes".
We all need to first agree that the emperor has no clothes; then we can get out of the debt slavery nightmare.
Please let me know if you agree.
From tyranny to freedom
Our government/state and legal system ensnare us wholly in the supposed "civilised" model, to adhere to this fraudulent monetary scheme at all costs. Our task, as always, is to tell as many others as possible about this madness and its cure: daily, more awaken. As frustrating as the process is, surely the day will be reached when the critical mass of awareness kicks in....
Bravo Barry, your video is the best I have seen.
I agree wholeheartedly with your analysis and solution, with a few small exceptions:
1. As you point out, the problem is private central banking and the issue by them of money as debt, with interest payable – interest that's never created. That results in our debt slavery. That is the crux.
To me, the population argument is just a detail, i.e. the debt bubble and burst took longer to play out, so long as the population was expanding. But even then, it was credit expansion that fed the beast, more than population. As long as more and more loans are made, the interest payments can be made, for a while. But, of course, the result is that everyone ends up further and further in debt, resulting in the seizure of our real assets by the financial powers.
Whether the increase in credit is due to the same number of people taking on more loans, or more people taking on the same level of debt, the result is the same. So, population is a detail to me, and has no causative role to play. I bring it up because I see it as a distraction.
2. You point out the abuse of fractional reserve banking, which is at the heart of the money scam. Fractional reserve banking is bad, because banks get to loan at low risk, and can cause massive bubbles as a result.
Also, in a deflationary depression like Ireland is in now, fractional reserve banking works in reverse, with the money supply violently contracting as banks call in loans and cease to make new loans. This deflation is what is really happening in Ireland now. It is the reason the government cannot collect enough to pay the guards and nurses, and it is the reason self-employed people and small businesses cannot get customers.
But fiat currency is not a problem.
Remember, the fractional reserve system, and private central banking, and all the terrible abuses, crashes, depressions, and wars of the last 400 years all happened under the so-called "gold standard". So a gold standard or any other "backing" is not the cure. In fairness, fiat currency is not the cure either. Fiat currency is now being used as the medium for central banking fraud, just as "gold-backed" money was used as the medium for private central banking fraud previously.
Here is the cure:
Debt-free, interest-free currency, issued directly to the citizens, to be spent into circulation as they see fit, in amounts sufficient to allow for the sale of all goods and services, without either excessive inflation or deflation.
But this money is fiat currency. And it will work better than being linked to gold.
Here is why:
Money is just a token system, as you point out. So our new currency will be tokens representing a share of the productive wealth of Ireland. So, in effect, the currency is backed by the people of Ireland and our productive capacity, our creativity, our resources. Everything that we can trade backs our currency.
Anyway Barry, as I said, it's the best video I have seen to date on Ireland's problems, as well as solutions.
The two big issues I see are:
1. Gathering people of like minds around a simple explanation of the problem, which depends on reaching a consensus on the actual problem.
The key sticking point I see is that, while we can all agree on the evils of debt-based money and interest drain, there is a misunderstanding (in my opinion) that fiat currency is the problem and gold backing is the solution.
2. There is nothing like critical mass happening. Your excellent video has 9000 views. It should have 900,000. This relates to Issue 1, because there is no consensus yet, and the presentation of the problem is often overly complicated. (This is understandable, as the financial powers fund the economics schools to turn their simple fraud into complex and confusing theories.)
We really need to get a simple message to the people.
A reader writes:
Our agreeing to evenly distribute free public currency units (issued regularly to individuals as first spenders), with mutual monitoring (everyone can electronically track the system's currency flow in detail), seems to me the foundation of a sound monetary system for the modern age. Individuals can download the fresh national dividend units – or upload notice to the shared system when we create/activate the new money units for ourselves.
Having complete anonymity in transacting or storing publicly-issued (national) monetary units would be problematic: all sorts of shenanigans can take place in the shadows, as our history shows us.
If we agree upon and establish an open-source system, with everyone as an equal shareholder and protector of the system's integrity, then financial energy will circulate equitably. Entrepreneurship can thrive in a truly free market, where the consumer directs production, and genuine demand can be met by ever higher quality supply, in healthy quantity (with sensible environmental stewardship emerging naturally, to replace corporate rapacity and waste).
Honestly, I think this sort of monetary transparency and accountability, using an open-source communication system, will do a world of good, and replace many destructive social tendencies with growing personal responsibility and interpersonal cooperation. Better awareness and behaviour will result.
And the same goes for legal system reform (as with the Ucadia model). The track record is clear: elitist "experts" (with undisclosed private interests) haven't served the common good well enough. Humanity can do much better. So if you want to experience a huge improvement in your personal – and our overall – economic health, and an end to financial parasitism, then help create that reality.
More Time for Leisure – National Dividend: Cultural Inheritance of Society – C.H. Douglas's "Practical Christianity" – Individual Creative Freedom