UK Guardian Admits: Banks Create Money as Debt

The UK Guardian is Earth’s third most-read on-line newspaper. In a revealing article, The truth is out: money is just an IOU, and the banks are rolling it in, the author explains what the Bank of England and US Federal Reserve admit:

What we use for money is created as debt by private banks.

This system is like adding negative numbers forever. The aggregate debt only gets larger, and will never be repaid because this is what we use for money. Also, as we see today, the interest and debt total become so tragic-comic we can’t get close to affording to pay.

What this also means is that with monetary and credit reform the public could have instant prosperity: full-employment, zero public deficits and debt, the best infrastructure we can imagine, falling prices, and release of public TRILLIONS held in “rainy day” accounts.

These solutions are OBVIOUS with a few moments of attention, and affirmed by leading Americans since Benjamin Franklin. See for yourself with what we have now, and what these solutions offer. ….

http://www.washingtonsblog.com/2015/02/uk-guardian-bank-england-banks-create-money-debt-translation-debt-free-money-cost-credit-creates-instant-prosperity.html

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