by Anthony Migchels
People are calling this whole Credit Crunch Charade “an insolvency crisis.”
The latest example is by Michael Snyder:
“Well, the truth is that this is not a liquidity crisis. If it was, the central banks could flood the system with money and solve the problem.
No, what Europe is facing is an insolvency crisis. There is way, way too much debt in the system and it is inevitable that an “adjustment” is going to happen.”
In the first place, all the major banks own each other.They also control or outright own the Central Banks. Even BIS is a private corporation.It’s just one massive cartel and monopoly.
So we ask: if my right hand owes to my left and he can’t pay up, do I go to my neighbor to bail out my right hand? Or do I, as the owner of both, just cross off this debt?
Huh? Get it? Instead, the bankers are using the “debt” as a pretext to squeeze the populace.
Secondly: the problem is not debt, it’s Interest.
These banks create all the credit through fractional reserve banking.
Most of the money out there was created the moment a loan was taken out.
This is an almost zero-cost operation. (If you don’t build massive palaces all and pay your people massive wages (bribes) let alone fork over to your vampire ‘traders’ and ‘investment bankers’.)
If we call an interest moratorium, the “depression” would be over tomorrow.
The debt is real but the interest is not. The debt must be repaid, but not the interest.
You can check for yourself:
The fact is: after thirty years, you have payed 500k for a 200k mortgage, 300k interest.
Nothing to conclude. This is a massive charade aimed at causing depression while raping us for untold trillions. The only thing that makes it hard to see is the sheer scale of the thing.
The bigger the lie, the easier to sell.
The sooner we wake up to the blatantly obvious, the sooner we can put all these bozos in their place.
Anthony Migchels is an Interest-Free Currency activist and founder of the Gelre, the first Regional Currency in the Netherlands. You can read all of his articles on his blog Real Currencies