Real Currencies – by Anthony Migchels
Usury is the original sin in the economic sphere and the root cause of all our economic problems. It causes unfathomable suffering. It is so pervasive, so normalized, it seems unavoidable.
The truth is we have everything we need to create an interest-free money supply and eradicate usury and associated rent-seeking completely from our economic and social lives. A Usury-Free economy ends poverty and brings abundance to the many. It will save our souls in the process.
By Anthony Migchels for Henry Makow and Real Currencies
The love of money is the root of many evils. Usury is the weaponization of the love of money. It feeds the avarice of the usurer. It forces ever more debtors into ever more immoral behavior. It replaces love with commerce. It corrupts commerce, which becomes ever more exploitative to pay off ever higher interest charges. It is the foundation of rent-seeking. It rips apart the fabric of society. It makes a mockery of any kind of social contract.
It causes hunger. Bankruptcies. Intense stress in families. Weighs especially heavily on the poor and leads to all sorts of excesses at the top. Billions of people live in abject poverty all over the world because of it. Entire communities, nations are gutted to pay the interest to the opulent. Nobody counts those dying prematurely from its effects. They are billions.
The many pay to the few. The poor pay to the middle class, who pay to the rich, who pay to the opulent. Poor countries pay ten times more interest on their foreign debts than they receive development aid.
Even when not in debt, forty percent of our income is lost to interest passed on in prices by producers. The many pay anywhere between five and ten trillion per year to the wealthy. All other rents ultimately are based on cost for capital and would hardly exist without usury.
It is the ultimate centralizer of power and it is global. It has been growing for centuries at compound interest rate speed, and now it is such an incredible cancer it is ready to swallow the remains of the host it has been feeding on.
The European nations put up $4,5 Trillion in handouts, easy credit and guarantees to ‘save’ their banks and the euro. The Fed provided an unimaginable $16 trillion dollars in easy credit to its banking buddies. Much of it was never repaid. This is ‘necessary’ because without banks we would not have money. So the West put up $20 trillion to have some bits and bytes and paper and coins circulate to exchange goods and services.
Surely the end of our civilization is near, when we allow such rapacious plunder to be sold with such a stupendous lie. While we simultaneously say there is no money to save the poor from starvation and the Earth from pollution.
The whole thing is totally senseless
We think: “without interest there will be no credit! I would not lend if I didn’t get anything back.”
But the Money Power doesn’t lend anything!
Money is just bookkeeping and credit is an automatic result of double entry bookkeeping, which by its very nature knows debit and credit.
The problem is not the creation of money! Quite the opposite: it’s marvelous that we never need to have a shortage of money.
The problem is when the bookkeeper starts raping the debitor with interest for no other reason than the associated minus. And takes all this interest himself. Just for the service of bookkeeping!
We pay $300k in interest in thirty years for our $200k mortgage which was created by entering some numbers in a computer bookkeeping application!
Gold solves nothing
We don’t want to pay $300k interest in coin! We want bookkeeping at cost-price! Interest-free!
Even in ancient times Gold and Silver were circulated by private parties. This is touted as a wonderful free market operation. But who circulated the specie? Those owning the mines, of course!
They circulated the metal by lending it out at interest and manipulated the volume from day one.
Today nobody knows how much Gold there is. All the Gold mines are owned and controlled by the Money Power. Those owning the mines are the Money Power, that’s how it all started. Vast amounts of Gold are in their vaults, ready to be unleashed onto the market through usurious lending, aiming to create asset bubbles, only to stop lending a little later to create a deflationary crash when people pay off their loans.
It is exactly the same way they create the boom-bust cycle with paper based money.
Just look at what they are doing to Gold today. They have been doing this forever.
The Golden Calf is the archetypal symbol of avarice, the Money Power is unthinkable without it.
We want Interest-Free Money!
Babylon is Usury
Jesus admonished us to lend freely, expecting nothing in return. The Vedas abhor usury. Moses forbade it. Half of the Q’uran is Allah threatening severe punishment for those taking Usury.
Money is bookkeeping. We don’t need interest for savers. The bank doesn’t need savers. Debit and Credit are the two sides of the coin in bookkeeping. They are automatic.
Yes, the volume must be managed, but that is unavoidable. No monetary system can exist without managing volume. The problem is not management, it is allowing vultures to do it.
The reason we have a boom-bust cycle is because we allowed private parties, banks, to manage the volume in their own interest. They set up Central Banks to create the illusion of ‘officialdom’.
Saying ‘the market must do it’ is saying the Plutocracy has been doing a good job over the last 5000 years.
We want interest-free mortgages, no income tax, no poverty. We want abundance, good will, a cultural rebirth, fairness and the end of Plutocracy.
Kill Usury!
https://realcurrencies.wordpress.com/2013/04/30/babylon-usury-we-want-interest-free-money/
I totally agree with you
I hope you have enough common sense to realize this goal can not be attained. Without a benevolent monarchy
You might also check current events and see what happens to countries that do not conform to the banker thieves
If you do not bow down to the golden cow in todays world you will be knocked down by nukes, drones and boogeymen
You have a better chance of finding the goose………..
http://www.thecommonsenseshow.com/2013/05/26/i-live-in-sodom-and-you-live-in-gomorrah/
I live in Sodom You live in Gomorrah;
The international bankers (e.g. Goldman Sachs, Bank of America), are the personification of the evil the Bible speaks about in Sodom and Gomorrah, and these servants of Satan have hijacked our Republic.
Our Republic is ruled by men and women who serve the ideals and values of Satan. They will surely be destroyed by God’s judgment. In the interim, are you going to continue to let them take you with them?
America Is Plunging Into the Depths of Hell on Earth
The signs are everywhere, the global elite are preparing to initiate a series of false flag attacks, impose martial law, collapse the economy, commence WWIII and force Americans to become totally subservient and dependent upon the government, a government controlled by the will of Satan.
The story of Sodom and Gomorrah has special relevance to the time and place that we live in today. The bankers, which have hijacked our government through legalized bribery (i.e. the PACs), consists of people from such organizations as Goldman Sachs, Wells Fargo Wachovia and HSBC banks. Goldman Sachs have collectively been convicted for things like child trafficking, running drugs, laundering drug money, stealing investors money, have foreknowledge and moving money as proof of foreknowledge to events like 9/11, the housing bubble, the Gulf Oil Explosion, etc. Nobody ever goes to jail, they just pay a small fine, as part of the cost of doing business, and they continue spreading their poison among humanity.
Excellent comment, annie.
sheikh imran hosein on youtube lectures on this subject validating what you have wrote. In islam bans against usury was the last revelation from Allah most high to mankind, how have we allowed ourselves to become enmeshed in this most evil web?
Thank you for so clearly expounding on what is obvious, but so well hidden right in front of our eyes.
The sooner we get out from under this yoke constructed from the “money is a commodity” concept, the sooner we can regain our freedom. I, like many others, own gold and silver. Not however, because it holds any value for me, but only because others place a value on it. When they finally realize that it actually has very little REAL value, they will drop it like a hot potato.
The other facet of the “money as commodity” problem is that there never seems to be enough of it to do the things that need doing in this world. This is inherently foolish reasoning though. It is like saying that we can’t build any roads because we ran out of “miles”, or we can’t build a house because we don’t have enough “inches.”
Money, as you say, is a measurement device/concept (accounting). Nothing more. The value is stored in the thing that was created by the human in the first place.
Same scam for thousands of years. Only the principal exists, so interest can never be repaid. Problem is exacerbated by fractional reserve banking which also dates to at least Babylon and probably to the mythical Atlantis.
Anthony has written on of the better descriptions of the effects of usury that I’ve read. Usury is greed in action. Usury kills billions every year.
He underestimates the impact removing usury would have on our standard of living. The actual effect would be an order of magnitude better (10x.)
Arguing that the volume of money must be managed is a mistake, however. The difference between real money and commodity money is that there is no money power keeping real money artificially scarce. The only true limit to proper money is the credit of the people who create it. Your credit should belong to you, not some banker. We the people actually create the money.
Mike Montagne, creator of Mathematically Perfected Economy(tm) published the best answer I’ve heard to this problem way back in 1979. Google him.
Good article. I don’t think usury is the same as fractional reserve banking. I’d add an uncontrolled fractional reserve to the problem as well. Central bank control and wealth accumulation is all about financial leverage. When you end up on the short end of the stick, you lose every time by design.
Kill Usury! … But how? I think Michael Hudson has made some good suggestions along with a number of others such as Bill Still and Ellen Brown. I don’t know if the American Monetary Institute has a good non-usury based plan or not but it is proposing alternatives. I do like the idea of the farmers state bank in North Dakota or the land, labor, capital bank (JAK) such as those in Sweden but this cannot be implemented through fat-fingering a solution.
The idea of the Austrian school uses a physical basis (gold) for money and seems too harsh, unforgiving and uncaring, during economic downturns. I think the purpose of elastic money supply and Keynesian economics was to help stabilize the economy (in addition to the primary goal of enriching the private banksters) through greater central banking control of the economy through money issue but that turned into a bubble machine money pump. The central bankers figured out how to pump a market bubble, making money on the upswing, and then dumping the market and making money on the downswing. This central banking system of usury and fractional reserve lending has produced a money junky cycle of addiction.
AND THE REAL TERRORIST IS ?????????? p.s dont forget jp morgue in, The too big to jail moneychangers are orchestrating the PM manipulation per the meeting just prior to the 4/15/13 smackdown
someone hasn’t read the irs manual. they REQUIRE you to report interest on any loan you make as income, whether you collect it or not. they even put out the minimum rate you can charge. quarterly, i think.