Why are banks so rotten?

Now a departure from my nights out, something that has really been bugging me.

Have you ever asked yourself the question:

"Where does money come from?"

I mean seriously, where does money come from?

The junior cert answer to this question is "the government prints money stamps coins, that's it!"

Right?

Wrong!

The single greatest source of money on the planet is not the US, Bill Gates or Donald Trump, it's the entire bank system which has emerged since the middle ages.

"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money." - Josiah Stamp, 1st Baron Stamp, former Director of the Bank of England.

Banking is probably one of the greatest scams since a woman in Israel about 2000 years ago claimed that God got her pregnant. It really is just a scam. I've read stuff on banks before, they're interesting as scams and really I came across a set of videos on youtube that really summarise things very simply.

The modern banking system involves literally the creation of money out of tin air, this is how our economies are run. Money is deposited into the banks, banks pay interest on deposits, people borrow money from banks and banks collect interest on repayments. Question is, where does the bank come up with this money to give? It doesn't, it conjures it. Banks are dependent upon borrowers, borrowers pay interest and make the bank money. Also, banks can pretty much lend out as much money as they want because modern banking is so poorly regulated and if you think I'm wrong look at Iceland. A banks survival is on the basis that it can lend money and make it back with interest. It's a closed system because people will spend their loans (e.g. a car loan), the person who sells their car, deposits money back into the bank (it doesn't even have to be the same bank) and the bank pays interest and everybody is happy. It's a system that feeds off something that at one stage was illegal, immoral and the subject of one of Shakespeare's plays, the Merchant of Venice, it's a practice called usury. Essentially banks make money off of money, the more they can lend, the more that they can get in return.

Why is this such a rotten system? What's the problem with making money off of money?

Simple really, it's completely unsustainable. There's no real economic growth from credit fueled debt, if you think that's wrong then you've not been to Ireland in recent years and seen the housing bubble burst.

Secondly, you condemn people to debt and a form of slavery. Think about it simply like this, if Haiti had no international debt and wasn't forced to pay off the loans + interest it owed, would the country be described as being the poorest in the western hemisphere? Debt is a form of slavery, it stops people from doing anything, it traps them. Finally, the very idea that private individuals have more power over the state than the citizenry is sick. It's sick to think that bank executives have more power than the fucking idiots we've elected. What's wrong with this, it ain't democracy it's a junta. Banks have bank rolled wars and recoveries, but they're not democratic institutions and they do not represent the interests of the people, they need people to be in debt to make money. That's how they roll.

If you think that's not a rotten system, then at best you're a big silly billy and at worst a fucking fool with their head firmly up their own arse. Now these could be ramblings of a madman (they were back in the 1930s anyway) but I'm not rambling, I'm stating the obvious and I'm not the first to do so:

"The Central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered." - Thomas Jefferson.

The problem with most people is simply ignorance, unfortunately it goes hand-in-hand with apathy.

Chat ya's!