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Simple truth - Prosperity via Public Banking
"interest on borrowed money accounts for ONE-THIRD of everything we buy".
Date: 1/30/2014 2:40:17 AM ( 10 y ) ... viewed 9606 times Economics doesn't HAVE to be so massively difficult, as it is now where the average person cannot even have an opinion unless they have a University education in Economics.
The simple fact we all can understand is not widely known - "interest on borrowed money accounts for ONE-THIRD of everything we buy". Really.
Money is borrowed to pay for the machines that are used to make things, money is borrowed to meet payrolls, money is borrowed to buy the trucks that transport the goods, money is borrowed to open the store that sells them, money is borrowed to buy the store's stock - and that is just touching the surface!!
Unless you borrow from the Fed at "prime rate", money is borrowed to loan the money that is borrowed. Oh my goodness!!
When Governments - Federal, State, Local - go into debt, it is all borrowed money, obviously. The interest rate is what determines how big the debt is because over 10 or 20 years the principle amount borrowed is smaller than the accumulated interest.
SOLUTION - simple truth here folks!! - "Public banking". Why can't a government borrow from it's own bank at very low interest rates?
THEY CAN! - North Dakota is the ONLY one in the USA that does it, and they weathered the 2008 crisis better than any other state.
OF COURSE THEY CAN!! - the Private Banks would not like it, but they don't have any real legal power to stop a government from setting up public banks.
State owned banks could lend YOU money to buy your house, and they could lend the locals money to start up a FACTORY that could then afford to sell goods cheaper.
Lower cost of goods leads to more prosperity for the average person, higher costs of living allow the 1% wealthiest people - including the private banks - to get rich.
We have to demand, and vote for, candidates that do not fall under the influence of PRIVATE BANKS.
Are you content to be spending your money on INTEREST? Wouldn't you prefer to be buying PRODUCTS?
ONE MORE TIME:
"interest on borrowed money accounts for ONE-THIRD of everything we buy".
Vote for, read books by, Ellen Brown.
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