Daysman Chimes In!
Posted by Daysman in response to Difference Between Lending-At-Interest And Risk-Based-Investing
Your Risk argument becomes crystal clear when you study mortgages. Mortgages have relatively no risk for the Lender because they are backed by the home. Yet, mortgages amortize future compound interest into the earliest payments and that results in 30 year mortgage payments that send over 90% of the payment to "interest"... which is like calling over 50% of our income "taxes".Thanks for your comment, Daysman! It's incredibly insightful and provides a lot of historical perspective.
I do think there is a fair "tax" and a fair "interest" which we owe; but over 50% of our income should not be taken for "taxes" and over 90% of our mortgage payments should not be stolen a la "interest".
The Boston tea party took place because colonists didn't want to pay the tea tax... tax meant 1%. In America today we are splitting our income with the government; it isn't taxes, it's too high to be compared to what the Godfather took from his victims in the old days, so it isn't protection either, it is partnership in crime; the government has drafted us all as partners to commit our lives to killing others and stealing their resources. "Tax" means 1%; these aren't taxes and these aren't dues, these are too big for that.
Of course the cause of the evil that rules the planet is fractional banking. Banks needed cash flow to service their loans and they got it from the slave trade, the opium trade, and from pirating on the open seas. Satan's minions used these to build mega-banks (read corporate) and seized power over whole nations.
They then set up central banks of issue for the nations and indebted the entire nation to the central banks. The central banks are owned by the corporate banks and use their power to change all the laws to let banks write loans that charge "interest" at astronomical levels.
Einstein was asked what the most powerful force in the Universe is and replied, "compound interest". Compound interest sucks the life out of a nation. Banks now own everything and the mechanisms that were put in place to take everything are impossible to turn off. Hence the mosquito will keep sucking blood until he blows up from too much blood.
Your patient is already dead. That's why he won't listen to what's wrong with him. Once the host dies the parasite is in trouble. Hence, all the problems at the FED.
And, thanks for shining light on Interest's evil outgrowth, compound interest, and the abominable practice of fractional reserve banking!
I have to disagree with your position on a small amount of interest being okay. I agree that some money must be paid to maintain a monetary system, but that money should pay for the expense of labor and goods to maintain it. The monetary system should be a public non-profit organization.
And, I hope that you're wrong about the patient being dead. I still hope that we will overcome this monster.