In An Interest-Free Economy Money Would Not Deviate In Value

Daysman said...

We both envision a banking system that is not allowed to charge interest determined by the market. Your voice is strong for a non-interest, not-for-profit money system; reminiscent of the Teutonic knights money structure. It is very rigid but it does retain value, I would even say that there would be no need for Congress to set the value of a dollar, money would not deviate in value. Wages would be king in such a system but bankruptcies could be brutal; there was no credit in the Teutonic knights' money system, credit came about with the advent of commerce and the industrial age.

We are in complete agreement that imparting a monopoly on the currency was a bad idea. For America to write a bond... in essence America takes out a loan, hence the bank is loaning "bank money" to America... instead of America issuing her own Constitutional money is bizarre and fantastically corrupt. Not only do we owe interest on those bonds, we owe the principal. When America issues her own money the nation is enriched. When America instead borrows money from the Federal Reserve the nation is indebted. The IRS then collects that debt from every American household and deposits it in the Federal Reserve. The Federal Reserve is a banking scam, pure and simple.

I think you tend to roll together fractional banking, currency speculation, bond money, compound interest loans; both corporate and mortgages, and simple interest (yes there still are simple interest loans; auto financing is simple interest) in your mind and label the whole evil beast as "interest". Nothing incorrect in your view, but understand that my view is that we need to stop everything except the simple interest loans. Banks can function as simple savings and loans to the benefit of free society.

Either one of our views would require the hand of God to execute... I personally hold fast to the hope that Jesus will return in the near future and clean the stinking planet up. I can't imagine a grass roots effort acquiring the momentum needed to overthrow the elite ruling class that has held the world in it's grip for centuries. In today's world, those rulers are bankers.

qrswave said...

Thanks, Daysman.

I understand your point. Simple interest is far better than all this crap. But, it is nearly impossible to turn the current tide. If we're going to go through all that trouble we must not settle for anything less than equal access FOR ALL to the benefits of our monetary system. That is not possible with interest.

And to your last point, God works through people.

Let's pray and work hard. God will do the rest.