..the borrower is the slave of the lender. --Proverbs 22:7 (English Standard Version) ...and the borrower becomes the lender's slave. --Proverbs 22:7 (New American Standard Bible) ...those who borrow are slaves of moneylenders. --Proverbs 22:7 (Contemporary English Version) It can be calculated that if you invested an ounce of gold at 1/4 of 1% interest rate, 6000 years ago, it would grow to about 6 billion ounces. But the best estimates are that there is less than 5 billion ounces of gold in the world from all gold mining in the history of the world. Therefore, since it is impossible to pay back more than exists, the practice of usury creates the condition of perpetual slavery for borrowers. For example, the United States had a debt of $250 billion at the end of world war II. At the time, with gold at $35/oz., that amounted to 7.1 billion ounces of gold. True to form, tax rates in the U.S. range from 30% to over 50%. Historically, serfs paid 30% of income to their masters, and slaves paid 50%.
We currently pay more than 50%. Usury is the basic construct of our society. Banks create money to lend us, to lend our governments, corporations, etc ... and we pay them interest. Wealth is distributed not through labor or technological advances, but mainly through interest. Those who lend the money, and earn the interest, rarely contribute anything to the transaction, but earn the lion's share of the income. Thomas Edison said in 1921:
... for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.
“But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good. The difference between the bond and the bill is that the bond lets the money brokers collect twice the amount of the bond and an additional 20 per cent, whereas the currency pays nobody but those who directly contribute to Muscle Shoals in some useful way.
The important question is in 2011, facing a world where bank created debt has caused tens of millions to be unemployed, lose their homes, countless deaths, suicides, sickness, even war and abuse, is this system really working for us? Maybe its time to stop letting these guys control the world, and consider another paradigm. One where 50+% of our income doesn't go to bankers, taxes, interest. Where the ups and downs of the economy are not caused by synthetic crises, where labor, wealth are shared equitably? There are lotsof other choices, beginning with a system where banks are actually regulated, to one where banks do not exist .... Given the current malaise, how come no one is talking about these choices? That's what we really need to ask ....