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When government spends more than it collects in taxes, it borrows money from a central bank, and must pay it back with interest. Government never has the money when the loan is due, so the burden of this debt falls on the taxpayer, me and you. When local banks need money, they also borrow from a central bank. A $100.00 bond gets loaned out to its clients at 10 times the amount. The central bank and local banks create money out of thin air. There is nothing backing it, nothing substantial is there, but when incompetent government defaults and local banks fail, we the taxpayers must bail them all out, or face some time in jail. The federal withholding from every blue collar worker's paycheck, is not taxes, it is our weekly loan payment for this perpetual debt, a debt we did not create nor do we deserve, yet we keep feeding those parasites at The Federal Reserve, a privately owned bank, governed by a handful of businessmen, who have a stronghold on not just my country, but many worldwide nations. These men hire untold numbers of lobbyists to put pressure on Washington, to establish laws to protect their corrupt monetary system. There are more laws on the books protecting their banks and corporations, than there are laws protecting the human rights of our citizens. Banking is in the business of manufacturing risk. I say the risk is too great to allow banks and banking to continue to exist. It is time for a new global emergent society, governed by a Resource Based Economy.

Copyright © | Year Posted 2018

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Date: 7/16/2018 11:34:00 PM
Billy, I enjoyed your Banking write tonight!
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TheKidster Avatar
Billy TheKidster
Date: 7/17/2018 3:14:00 AM
You da man, Lyric Man.