The Banking System In Short

Dr. Michael LaitmanOpinion (from War and Peace): “Because so few people know how the system works, nearly nobody sees how – in an almost mechanical way – banking with thin air parasites society like a cancer tumor and reduces people to cogs to appease its financial hunger. …

“The solution of all these problems is as simple as its cause. We have to create a bank that is of all of us, a state bank with the exclusive right to create money. There must be a prohibition on creating balances out of thin air and on lending out balances. A state bank does not need capital and does not need profits. The interest can stay very low, or be compensated by fiscal measures.

“The interest flows back to the community. A money system with such a state bank does not need money growth, profitability growth, inflation, productivity growth, competition, exploitation and unemployment. When decided democratically, the government can take over the collective services again and execute them in the interest of the citizens.

“Also, investments can be directed to where such is desirable for society and not where the safest and fastest financial gains can be obtained. The government won’t depend on the bankers anymore. The public debt will be of the past. Collectively we can turn to sustainability and wellbeing, instead of devouring, wasting and pressing out employees to please money-lenders.

My Comment: It is impossible to do without correcting people; otherwise people will still find a way to cash in on each other.

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