WHY WE’RE BROKE EXPLAINED
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You are careful with your finances and pay your credit cards on time to avoid interest charges? Don’t be too smug. Every time you purchase a train ticket; buy a pair of shoes or use public services roughly 40% of your spend will have gone into the vaults of the international banking houses.
According to Ellen Brown, chairman of America’s Public Banking Institute, bank interest charges are regressive. This means the poor are constantly milked to further enrich the rich.
A public banking sector such as enjoyed in National Socialist Germany and other ‘rebellious’ nations would discount up to 40% off everything we buy or use. This is the reason why the private banking system fear and challenge nationalised banks like those of Russia, China and Iran. It explains America’s $23 trillion debt.
Agriculture, manufacturers, services and transportation costs are dependent upon bank credit. Each in the supply chain must invest in their business, use premises, engage labour, buy materials and use transport, etc. This before the end product is available. This bank credit is accumulative and variable.
German Professor Margrit Kennedy reveals that 35% to 40% of everything we buy goes on bank interest. Each time local government and ordinary purchasers spend €100, 40% is siphoned off by the banking conglomerate’s accumulative interest rates.
Dr Kennedy discovered that even in fiscally prudent Germany bank interest adds 12% to the cost of refuse collection. When we receive a water bill presume an eye-watering 38% of the invoice value will go directly to the vaults of the private banking sector. In Germany, a breath-taking 77% of rentable public housing goes in private bank interest.
In the United States, compound interest on most mortgages amounts to 80% of what they pay for home or business premises. The home of the free is actually the home of the free ride if you are a bondholder, banker or financier.
The noted German researcher and analyst draws heavily on the findings of economist Helmut Creutz. His findings are based on the German economic model. However, if you are not German don’t get too excited; the same corrupt banking system is in place throughout the European Union and the United Kingdom.
Financial sector profits comprise an incredible 40% of the price of whatever Americans purchase. This may go some way to explaining why 1% of Americans own 42% of the national wealth. Only 5% of America’s wealth is shared between those making up 80% of the population.
If we had a financial system that transferred private bank interest back to the public purse 35% could be lopped off the price of everything we buy. That means we could buy three items for the price of two; our salaries would go 50% farther than they go today. Like this story? Share it with a friend.
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