I'm from Israel, Israeli banks, allowing people to be minuses in their bank account, you only live in debt to the banks.
It's something very common in Israel
You are viewing a single comment's thread from:
I'm from Israel, Israeli banks, allowing people to be minuses in their bank account, you only live in debt to the banks.
It's something very common in Israel
Debt is how money is created in fractional reserve banking. Debt piling up to the degree it was unable to be paid is what happened in 2008, and what is about to happen again.
This is why the solution undertaken by Bush, and then Obama, was to simply print money and throw it at the rentiers. Not the renters, but those whose income depended on debts being repaid to them - debts of money that never even existed until they created it by lending it out.
This is a system that cannot persist. The 500% increase in the global supply of dollars Obama undertook is about to completely crash the system. All of those dollars were lent when they were introduced into circulation, and there are no increases in production, in wages of the debtors, to pay the interest.
It's a mathematical impossibility.
I remember when I first found out about debt based money. I thought is was a conspiracy theory. Hah! It's no theory; simply conspiracy. They say that waking up is hard to do, now I know, I know that it's true...
That sure sounds like a lyric from a song I should know =)
It is and I tried to put emoji notes around it but the markdown formatting didn't work. :notes:
Common anywhere there is a central bank. It's a big scam.