"It's the Interest, Stupid! Why Bankers Rule the World," by Ellen Brown

Thank you, Ellen. I didn't know this:

Ellen Brown

In Money and Sustainability: The Missing Link (at page 126), Bernard Lietaer and Christian Asperger, et al., cite the example of France.  The Treasury borrowed interest-free from the nationalized Banque de France from 1946 to 1973.  The law then changed to forbid this practice, requiring the Treasury to borrow instead from the private sector.  The authors include a chart showing what would have happened if the French government had continued to borrow interest-free versus what did happen.  Rather than dropping from 21% to 8.6% of GDP, the debt shot up from 21% to 78% of GDP.

via It's the Interest, Stupid! Why Bankers Rule the World | Common Dreams.

In addition to needing Public Banking, we need interest-free United States Notes and real-time, open-source, transparent control of the money supply so that there will be no price inflation or deflation. We need bottom-up and then across-and-down democracy with full transparency.

There is zero limit on what we can do financially. If we want something as a people and want to provide for those who make it happen and if we will all do our fair share, we can eliminate poverty, really. All that's necessary is to expand who it is we consider insiders, family, loved ones. It's the message of the story of the Good Samaritan preached by Jesus Christ as recorded in the Gospel.

Then an expert in the law stood up to test Jesus. He said, "Teacher, what must I do to get eternal life?" Jesus said to him, "What is written in the law? What do you understand from it?" The man answered, "'Love the Lord your God with all your heart, all your soul, all your strength, and all your mind.' Also, 'Love your neighbor the same as you love yourself.'" Jesus said, "Your answer is right. Do this and you will have eternal life." But the man wanted to show that the way he was living was right. So he said to Jesus, "But who is my neighbor?" To answer this question, Jesus said, "A man was going down the road from Jerusalem to Jericho. Some robbers surrounded him, tore off his clothes, and beat him. Then they left him lying there on the ground almost dead. "It happened that a Jewish priest was going down that road. When he saw the man, he did not stop to help him. He walked away. Next, a Levite came near. He saw the hurt man, but he went around him. He would not stop to help him either. He just walked away. "Then a Samaritan man traveled down that road. He came to the place where the hurt man was lying. He saw the man and felt very sorry for him. The Samaritan went to him and poured olive oil and wine on his wounds. Then he covered the man's wounds with cloth. The Samaritan had a donkey. He put the hurt man on his donkey, and he took him to an inn. There he cared for him. The next day, the Samaritan took out two silver coins and gave them to the man who worked at the inn. He said, 'Take care of this hurt man. If you spend more money on him, I will pay it back to you when I come again.'" Then Jesus said, "Which one of these three men do you think was really a neighbor to the man who was hurt by the robbers?" The teacher of the law answered, "The one who helped him." Jesus said, "Then you go and do the same." (Luke 10:25-37 ERV)

  • Subscribe

  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
    This entry was posted in Monetary Reform, United States Notes. Bookmark the permalink.