So when we go to the bank and take out a loan, credit card, mortgage etc what we are actually doing in effect is creating a promissory obligation -which it should be noted has real value; why...? because it represents your future energy/labour. The bank takes that promissory obligation does some magic and hey presto private electronic credits are generated. The private electronic credits to all intents and purposes seem like something of real value because the private electronic credits can be withdrawn and spent and represents buying power in the economy... but The banks puts up no lawful consideration which is fraud. The private electronic credits are generated off the back of a promissory obligation ie the agreement to repay the principal with interest (fraud again - see inherent fault of compound interest). Notice the word repay - odd dont you think. The promissory obligation is the only thing of valuable consideration brought to the table as it were because it repesents real expended energy. What did the bank put up in order to lend you the private electronic credits...? nothing that you didnt already provide or will provide in the form of your future labour. The relationship of banker and customer is really one of lending but as with everything in this world it is upside down. YOU are the lender and depositer of the bank. Imagine it something like this - you run a farm and you need new equipment a tractor say. You go to the bank and say I need some private electronic credits to buy a tractor can I get a loan. The banker rubbing his hands with glee says of course you can we can lend you the amount plus of course x amount of interest. You think great I can get a loan and I can buy my new tractor happy days but little do you know the bank has really converted your future energy/labour by way of the promissory obligation into the private electronic credits and issued them to you with INTEREST. Whats wrong with that you might think - well if you havent worked it out already the credits you have drawn from represent nothing but your expended future energy/labour and/or the future value yet created. The banks has done nothing but republish your own promissory obligation to you with interest. Can you see the fraud in what is taking place??? I know it seems counter intuitive because of the double speak and non sense we have been taught but when you get to understand the fraud its hard not to reason we are the creditors and as such should most definitely NOT be paying interest. Has anyone else arrived at a similar conclusion from their studying/learning? Would be interest to know if its just me :-)
Posted on: Tue, 04 Nov 2014 17:18:15 +0000
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