The same commodities that have massive depreciation that cannot be claimed against income?
Even the home loan really cannot be capitalised on as we need to have a place to live until we croak.
Imagine if interest rates went back up to 25%, which they did back in the late 80's
How many people would lose everything.
High interest rates also coincide with a recession where work and income also suffer. A recipe for disaster.
In ancient times the poor borrower was considered a slave to the rich lender.
Nothing has changed as the wealthy lenders can bump up loan charges anytime they want to maximise there own holdings. ie: repossessions.
Most people chase after money
but a tiny elite get to create money out of thin air.
This money-creating elite control nations and world environment.
Recent head of the Bank of England, Sir Mervyn King, said in 2010 that “of all the possible banking systems, we have the worst”. Why?
Because it is private, controlled by private bankers for profit not for people.
And secondly, because it creates 97% of money as credit, as debt, requiring huge interest payments.
Nearly half of your work goes to pay interest.
The modern monetary system condemns us to ecocide and eventual slavery.
But this can be changed, and easily!
sam@lifexcells.com
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