The world is still in recession mode. Many countries around the world have managed to negate their debt defaults by quantitative easing (QE). These countries include America, Britain and Japan. Austerity measures are in full swing in most countries. Europe still struggling. China now slowing down economically. Countries dependant on China’s manufacturing needs of minerals, such as coal and iron ore, are also declining. Australia is one such country and now must face the harsh reality of the world economic woes brought on by debt.
The world is slowly suffocating with debt. People around the world are still dying from this debt induced poverty and it is not getting better. The quality of life for many people is getting worse especially for the elderly, sick and the unemployed/under employed. The bills are mounting and they have no ability to pay them. They will have to go with out or cut back drastically, heating and food are amongst these things. Mortgage payments, rent and other loans are not kept up to date. Cars and other purchasers are repossessed and homes are lost to the banks. It is a growing problem that will not go away. This is the bitter reality of financing our money supply from the present banking institutions.
There is a better way. It is called Social Credit. The people of the world need to know this. This massive debt can be removed and it should be. The world can be a better place, it just needs education. Please spread this vital information.
The stimulus packages around the world are starting to run out. The IMF is now putting pressure on the worlds economies to reduce their debts and deficits. The only way they can attempt to do this is by taxing their people more or by spending less on government services. This of course will reduce the money supply and undermine any good the stimulus packages did in the first place.
In Europe, countries worst affected by the global recession are starting to go bankrupt. One by one they are starting to fall. Financial aid from the European Union and even the Monetary Fund is holding these countries from bankruptcy. Europe as a whole is now weakened even more by these individual nations. The dominoes are starting to tumble. America on the other hand is continuing to borrow more money to buy it's way out of the recession. They have no hope in paying this money back. It's only a matter of time before the obvious will happen, you can't keep borrowing money for ever.
The rest of the world is not much better. We are at the mercy of the banks. The world will continue to go bankrupt if the international bank's let it happen. One world currency is not far away. The world badly needs Social Credit, It is our only hope.
What has changed since the last post?
Governments around the world have set up economic stimulus packages to help keep their economies going. While it is true that it has prevented the world economy from going into a depression it must be considered a temporary solution only. Why! These stimulus packages have come at a great cost.
This money has been borrowed and must be repaid back. The citizens of each country will have to face higher taxes to maintain the extra costs from these new stimulus loans. When this happens the money supply will reduce significtly (The money supply increased by these stimulus packages will run out unless further stimulus packages are received. Obviously we cannot keep going down this track.
Third World Debt
Every day, over twenty thousand children under the age of five, die because of third world debt. http://www.globalissues.org/print/article/715 Third world debt is killing more people in this world than anything else is. The urgency to clear third world debt is extremely high because it is leading directly to the deaths of thousands of children each day.
It is absolutely outrageous what the banks have done in line with the IMF and World Bank policies. The death and suffering inflicted to the poorest nations of this world by these parties can only be described as crimes against humanity. We need to address third world debt now!
It’s Time to face the truth!Unfortunately the creation of money no longer comes from our government as social credit; it now comes from global banks at great cost. (The shells have been stolen!) These banks go from one country to another offering much needed money in the form of bank loans, usually at high interest rates. By this act, they make incredibly high profits, for they created this money out of nothing, creating it irresponsibly without representing anything of value. Even worse the banks now create money as debt.
Countries that have surrendered their sovereign right to create their own money now have to face these ruthless banks. For every 100 dollars borrowed another 10 dollars must be repaid in interest, since only 100 dollars is received another 10 dollars must come from somewhere. This leads to further borrowing, until the cycle of debt forces bankruptcies and the relocation of assets to the banks.
Dire Consequences Of Third World Debt
Countries such as India and Brazil have already been down this road of bankruptcy. Assets are seized and requirements are set by the International Monitory Fund before any more loans are passed on from the World Bank. Note; these loans are lent to these countries in hard stable currencies such as American dollars. Often the ability to repay their loans is further decreased by the dropping value of their own currencies; a five-fold drop in their own currency can increase a ten billion dollar loan to fifty billion dollars. Part of the terms given by the International monitory fund require spending on public services to be slashed before any money is allocated from the World Bank.
Priority must be given to the repayments. Often hospitals and medical treatment are no longer an option and therefore thousands upon thousands of people die needlessly every year because of third world debt! Poverty in these countries has reached plague proportions. India could easily feed its entire population with the crops it produces, but many hundreds of thousands of people go hungry, the reason - crops are sold as trade to other countries in order to pay their interest bearing debts. Third world debt continues to get bigger and bigger. It is absolutely disgraceful!
The Removal Of Third World Debt
Most poverty in this world has been contributed greatly by our current banking system. Much of this can be erased by the use of fiat money. Once this debt has been removed, social credit policies would need to be put in place. Many of these nations are rich in mineral assets and the ownership of these assets must be given back. Modern farming methods must be made available. Electricity and clean water which we take for granted in the developed world should be made available. With the help of of social credit principles, these nations can be poverty free and self sufficient.
To avoid any major impact to the economies of the world, new fiat money (as in quantitative easing) could be used to remove this debt completely and should be done with little or no effect. Currently it is only done in a limited form in developed nations to service debts or finance government spending when interest rates are low as a lost resort. A few countries around the world are presently using quantitative easing to prevent a default. There is no reason at all why this cannot be done to remove third world debt.
How Social Credit can be applied Locally
Local debt free banks (People Banks) can be applied locally. Every citizen especially those enslaved in third world debt need to know this information. It is a very simple process that local communities can start themselves with a little help. Debt free money can be created in this way and supplied in sufficient amounts to cover all goods and services needed to accommodate trade.
A local bank is first opened and a simple card system (depending on the development of the country in question) is issued to every family. These cards (bank account cards) will be used to record transactions on a daily basis always requiring two cards and two signatures. Every card will be issued with a certain amount of money initially and other amounts as dividends if needed to increase the money supply. This system can and will spread as the people understand how it works.
Francois de Siebenthal -an economist and Consul General of the Philippines in Switzerland explains in this link how easy it is to open a local bank with just the use of a simple card. The Philippines already have some People Banks running and they are spreading.
see link What Can Be Done!