Our Broken Economy

Our Broken Economy

The way the economic system is set up if people do not borrow the economy will completely collapse. Over 97% of the money supply is created as debt. There is never enough money in the economy to pay back the debt. This creates the “Religion of Economic Growth”. As soon as the economy slows down the money supply contracts and people go broke. The bankers are sitting on the sidelines ready to buy up their assets with the money they can create out of thin air. Of cause the bankers intentionally create the boom bust cycle so that people get into debt and then go broke so that the bankers can rake in all the hard assets. Just ask yourself the question. The Government is in massive debt, most businesses are in massive debt, most people are in massive debt. Who is all the money owed to and where does the money come from? Answer:- Created out of thin air by the bankers and loaned to the People to turn them into debt slaves.

A People’s Government should issue 100% of the money supply and spend it into the economy in the form of government services, infrastructure projects, welfare payments, provision of utilities etc. etc. There would be no need to tax the people and wages etc. should be set at a level where people can save and not have to borrow. Housing for principal place of residence could be provided by interest free loans from a People’s bank. The main reason these loans should be paid back is so that the money supply does not get out of control and of cause People still need an incentive to work and produce. I am not talking about free handouts for everyone. There has to be the incentive for people to work. I actually suspect that People want to work and contribute towards their own and the community’s wellbeing.

The level of money supply should somehow be determined by creating a balance between the productive capacity of the economy and the needs of consumers. The bankers and their puppets will scream “what about inflation” as if inflation has not been out of control under their debt-based system. Removing the interest cost from production will of cause reduce inflation. People’s Bank savings accounts could be a good way of removing money from circulation. These could be adjusted for inflation and pay sufficient interest to encourage people to save. Of cause having savings will alleviate the need for people to borrow.

I can’t answer all the issues involved here but I think that is a good start. We need to get the parasites off our back. “Money issued without debt. Power to the People.”

John Woodward sings Malcolm Turnbull

John Woodward

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