Index

13: The surreal world of money

We have gone through the 'looking glass' to observe money: not real touchable money, but the money of debt we all now use.

Banks and Financiers were gambling on surreal investments with their unreal money until their tsunami had lethally infected the lives of the seven billion people on  Earth.

In the UK, the Banks' debts associated with worthless assets were declared 'toxic' (ie worthless) and the Government said let us take these off your books in order to preserve the global financial system.  In the case of RBS it was £280 Billion, and for Lloyds TSB/HBOS it was £260 Billion.

Let us do the maths to appreciate the conundrum.  Assuming £1 of debt was created every second, then just those 2 banks together would have needed to go back in time 15,000 years before Christ to start to accumulate such debt.
USA is currently $16 Trillion in debt, which using the seconds analogy, would have a start date some 507, 200 years ago.

World debt is about $100 trillion, which would stretch back some 3, 170, 000 years.

The end game if this financial mess carries on, will either see the peoples' money devalued into the dust or a world revolution – whichever comes first.

In order to come back through the 'looking glass', we need to repatriate all the debt back on to all the Financiers and Banks' books, and they would then be insolvent.  Then new Banks in receipt of real money from depositors would be able to lend properly against real assets at a sensible rate of interest.  Banks should not be allowed to leverage up their loans as they can do at present; nor be in the insurance or mortgage markets.

Obviously there is much, much more to discuss and do before achievement; not least how to stabilise the process without the mega rich and mega politically powerful destroying the planet and its peoples.

Ronald Rankin, Dalkeith, Scotland     13th December 2011

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"If the American people ever allow the 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 property until their children will wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the banks and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies."

Thomas Jefferson
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