< HOME  Saturday, January 28, 2006

Why is it so HARD to find a JOB?

In light of the news that 24,500 people applied for 325 jobs at the Wal-Mart that opened Friday just outside Chicago, I think it's appropriate to ask 'Why the fuck is it so hard to find a job?'

Are Americans too picky? Are immigrants taking all the jobs? Is it globalization? Is there something wrong with us? Are we not trying hard enough? Red-herrings, every last one of them; signs and symptoms of the same global pathology.

Where there's no money, there's no work. It's as simple as that. Ask Lewis Black; he knows.

Does it mean that the unemployed are inherently unproductive? Or, that all of the economy's needs are already met? Of course not.

Take, for example NYC; unemployment is high, but many infrastructure projects and public services are needed. They can't be launched or provided because the city needs capital and without fail, government budgets fall short, no matter how much they collect in taxes, tolls, fares, fees, and fines. But, WHY?

There is no shortage of labor and no shortage of needs. It's always a shortage of money.

Pardon the vernacular, but you gotta ask yourself, why the fuck isn't there enough money when the US Treasury prints it 24/7?

The answer lies in the nature of money, debt and interest.
"Whoever controls the volume of money in any country is absolute master of all industry and commerce." -- President James A. Garfield
Money has no intrinsic value. Bushels of it are printed every minute by our government, at nominal cost, only by the authority vested in them by us, through the Constitution.

You can't eat money, you can't ride it to work, it won't keep you warm, and it won't do the dishes. You can't do a damn thing with it; it's worthless unless someone accepts it in exchange for something of REAL VALUE - labor or goods.

Money simply facilitates exchange (remember, in God we trust all others pay cash).

If we didn't use a standard currency, like the dollar, we would have to barter, which for obvious reasons is terribly inefficient. Hence the term currency, from the root word current, or flow.

And the only reason money is accepted in exchange for labor and goods is because the government says so. Those who accept it are receiving a promise that the next person will accept it, too. In other words, money is "valuable" by government decree. Hence, the term fiat currency.

So, if money has no intrinsic value, why the fuck is it taxed with interest from the minute it hops off the press?

Logically, the government should issue this 'promise to pay,' born at the press, interest-free in order to fuel the economy by launching needed non-profit public projects. In this context, money does not "buy" productivity. It simply facilitates it.

The money that circulates in the economy, as a result, now represents each person's contribution to productivity - the credit they earned. They can save it, spend it, lend it, or invest it. It never has to be returned to the government. It can continue to circulate until it is worn.

When new public needs arise the government could re-use money that it earns (as a non-profit corporation) in fares and fees for productive public services. If necessary, it could borrow money that's deposited in its trust as personal savings. Anything borrowed is returned interest-free. When warranted, the government issues new currency to accomodate productive growth. In such a system, taxes would be unnecessary.

Through a national network of non-profit banks, the government could also invest private money in entrepreneurial for-profit businesses that promise to employ others. In these ventures, the government assumes profit and risk on a pro-rata basis.

Or, these banks could loan money interest-free to individuals or businesses that demonstrate need. Anything that is loaned, would be eventually returned, interest-free, to be loaned to someone else in need.

There would be no inflation, because whether money is issued for public or private use it would only be issued and allocated according to productivity.

Because money is interest-free, billions of dollars that would be otherwise siphoned from both public and private economies, through fraud or exploitation, remain available to fuel public and private productivity.

But as it stands, central banks have a monopoly on issuing money; they issue it when they will and to whom they will, and they only allow it to circulate at interest. This is the crux of the problem.

Central bankers take money directly off the press and create credit from thin air. They lend cash and credit at their discretion; and they expect it re-paid (as if they earned it) in the same currency, only in a greater quantity than they or the government ever issue it--which is impossible.

This fraudulent system of lending at interest creates a zero-sum economy where some must lose for others to win. For example, let's say that $1000 is issued by the only bank in a fledgling nation of five. Each person borrows $200 at interest, and must compete with the others to pay off their loan, plus interest.

Once 4 of them raise enough money to get out of debt, there is not enough money left circulating for the fifth to pay his debt, no matter how hard he tries. This zero-sum result is inevitable in a system based on interest because interest is NEVER issued, it's only charged.

Interest is not productive. It's an instrument employed by LAZY, unimaginative investors who want to unload life's risks on to borrowers, workers, and consumers by exploiting their need for money.

Interest only works in a controlled economy where the money supply is constantly "tightened." It's glaringly obvious that no one would pay interest for money they could borrow from the government interest-free - if it was available.

But, it's not. So, interest acts as a giant vacuum siphoning all the money which the government supposedly issued for productive uses and channels it to inefficient, exploitative ones that bleed borrowers, workers, and consumers, alike and pits everyone against eachother.

For instance, under an interest-based system, the person from our example who remains in debt will garner little sympathy if he is healthy, and suffered no natural disaster. But indeed, he is unable to pay his debt, not through his own fault, but because of a flawed monetary system.

If interest were not charged, he might still fall behind others. But, if it's because of a natural disaster (Katrina) or illness, the community would gladly extend credit at no interest until the crisis passes.

Or, if the loss was due to his negligence or inefficiency, he would no longer be trusted with loans. And unless he were incapacitated, he would have to work to pay it back, interest-free. That is both fair and it encourages cooperation and social resposibility.

He would not be targeted, as he is now, by moneylenders who don't care if he never pays anything but interest. That is unfair and facilitates and rewards exploitation.

But, private borrowing at interest is not our only problem. It gets MUCH worse.

A nation that borrows money at interest (by issuing bonds), instead of issuing bills interest-free, suffers the burden of perpetual debts that increase exponentially with time because of interest.

Interest on government bonds has been decimating America's physical economy and the quality and availability of its public services for decades. In 2005, the US government spent over $380 billion to pay interest on treasury bonds, almost six times the money it spent to fund education! We are kept ignorant so that central bankers and moneylenders can continue to defraud us unchallenged.

On top of all this, because moneylenders "own" all the credit they extend in the economy, they are free to call in those loans at any time, plunging the entire nation into economic depression and foreclosing on all its assets.

The bottomline is that with the same legal authority that our government issues bonds at interest, it can issue interest-free bills. Both are promises to pay. The latter is honest and productive, the former is fraudulent and destructive. The choice should be clear.

So, when someone asks you why it's so hard to find a job, tell them that it's not their fault and that the people of this nation and the world are being manipulated and defrauded by those who control the money supply.

Don't lay back and let them screw us. Let your voice be heard.

83 Comments:

At Sunday, January 29, 2006, Blogger jc said...

great post q. and lest people think america is the victim it's not. china buy american bonds, japan buy chinese bonds, thailand buys japanese bonds, and so on. all nations are in debt. all of them are bankrupt. it's pyramid scam where the only ones making money are those that set up the scam. the banks and their secret shareholders. imagine if we found out who these people are. these high priests of finance. these moneychangers and had them evicted from their temples and burned the latter to cinders. criminalize the true criminals. the world might be safer then.

 
At Sunday, January 29, 2006, Blogger qrswave said...

Thanks, jc for raising that important point. I ran into a link at the economist online that allows you to examine the financial position, including the debt-to-GDP ratios of a number of countries. It gives you an idea of how bad global financiers are bleeding each country.

I pray that one day the exploitation of humanity through fraudulent and speculative financial instruments will once and for all be abolished. But, until enough people learn the TRUTH, the money masters will continue to subjugate us through our own ignorance and terrorize us with our own armies.

 
At Sunday, January 29, 2006, Blogger jc said...

hey! great link. muchos gracias, compadre. viva la revolucion!

 
At Sunday, January 29, 2006, Anonymous Anonymous said...

Nice article. People that receive the money first off the presses and then the people that receive it second have the most spending power with the money.

 
At Sunday, January 29, 2006, Anonymous Anonymous said...

Great article. So that's why my Dad always talked about the "goddamned money changers!"

 
At Sunday, January 29, 2006, Anonymous Anonymous said...

Have you ever heard of "the gold standard"? :-)

This video is a good intro to the issues:

http://mises.org:88/Fed

 
At Sunday, January 29, 2006, Anonymous Anonymous said...

Very good article. This presentation has even more info about the secrecy surrounding the creation of the Federal Reserve on Jeckyll Island.

http://mp3.rbnlive.com/download/creature.ram

 
At Sunday, January 29, 2006, Anonymous Anonymous said...

Great article, but I have a question. You say that the Government prints the money. Doesn't the Federal Reserve print the money and loan it to the Government at interest, thus creating the National Debt? Some of your readers know that the Fed Reserve is involved, but others might be unaware that the "Fed" is a consortium of private banks. I make this hair-splitting distinction because too often people get into a discusssion about the economy and blame it on the Government instead of say, Alan Greenspan. Unless of course, you meant that "our Government" IS the Federal Reserve, in which case I tip my hat to your subtlety.

 
At Sunday, January 29, 2006, Blogger Social Democracy Now said...

Recently, on Daryl Bradford Smith's radio show, he had on a guest - his name was, I think, George Green - and he said that back in the mid-1970s he was tapped by Paul Volcker of the Fed and Ted Kennedy of the Dems to work for Jimmy Carter's campaign. Green says he protested to both that he was a Republican and that Volcker told him that didn't matter because 'we' - meaning the Fed - controlled both parties.

That would seem pretty explicit corroboration of what the above poster has written.

 
At Sunday, January 29, 2006, Blogger qrswave said...

Anon 1: yeah, that's why they call it trickle down economics!

Anon 2: your dad's a smart man

Anon 3: many thanks for the link on mises, I watched it; I'm not a fan of gold because it's largely already monopolized by the money masters; it's replacing one commodity with another that they control.

Anon 4: many thanks for the link! It's mint! no pun intended..;)

Anon 5: thanks for raising this important distinction. I regret that I was not very clear about who I was referring to each time. This is an excerpt from what I wrote about the Fed in an earlier post:

As of August 31st, 2005, the U.S. government has already paid $335 BILLION in interest on U.S. Treasury Bonds. Some of this goes directly to the Federal Reserve System, the central banking system of the U.S. which is comprised of 12 private banks and a Board, all of which are independent of the government. The rest of the interest goes to other private bondholders, domestic and foreign.

These banks have a complete monopoly of the money supply of the nation and they have private shareholders. The Federal Reserve banks audited annual reports reveal that together these banks own over $772 Billion worth of U.S. Treasury Bonds for which they collect tens of billions of dollars in interest annually from the U.S. Treasury. Thankfully, they are required to deposit all of their surplus money (after operating expenses, etc.) back into the U.S. Treasury. But, you would be truly impressed at how costly it is to run the Federal Reserve System!

Now, proponents of the Fed argue that its modest profits pale in comparison to that which is made on interest charged by other bondholders, domestic and foreign.

But first, everything is relative; what's modest for you could be a fortune for me. And second, that only begs the question: Why should the Fed, or anyone for that matter, profit AT ALL from the circulation of that which is conspicuously described as 'the nation's treasure?!!'

And, what about the bushels of interest commercial banks charge the public for private loans to which the public otherwise has no access?


So basically, Congress completely abdicated its constitutional duty to issue the nation's currency. The Fed Board (which is an independent agency) runs everything. And, yes that includes the Treasury, Congress, and the President.

The Federal Reserve Board pays printing costs for the bills, which of course are called Federal Reserve Notes. I read through the whole audit once, it's a bit complex. I would need to look at it again to discuss it in more detail.

Regardless, the system is unconstitutional and indefensible.

Social Democracy Now: Thanks. Without a doubt, Congress and both parties are bought and paid for, lock, stock, and barrel.

 
At Sunday, January 29, 2006, Anonymous Anonymous said...

It is even worse then this post says. All money is created as a debt by the banks but they don,t create any money to pay the interest. As a result, the debt cannot ever be paid off as the borrowers owe more money then exists.The debt can only be rolled over until the victims can no longer even pay the interest on the debt. We are there now.

 
At Sunday, January 29, 2006, Blogger qrswave said...

Hey wait a second, I said that.

Reread :) Maybe it's not so clear. But, it's the reason why I've been blogging everyday since the day I found out, four months ago.

It's absolutely astounding because it's such an obvious fraud, which means that many if not all of our government officials are complicit in it.

 
At Monday, January 30, 2006, Anonymous Anonymous said...

interest is evil but it is far from being the only problem
even with zero interest money supply will have to be outpacing production - why ? because resourcers owners get the money from the end users and accumulate it. One simply cannot take 100% of it from them and redistribute back to end users. So to keep end users buying one need to issue more and more money even at constant production

 
At Monday, January 30, 2006, Anonymous Anonymous said...

There are quite a few things wrong with this (but the conclusion is correct) but they all follow from the assumption that the economy is a zero sum game, which it isn't. The value of an economy is the total value of the goods in it. The increase or decrease of this value is creation of goods minus the destruction (consumption) of goods.
Note that I haven't talked about money yet but this is important since this value is confused with money in the piece.

First let me tackle the point about loans, debt and borrowing.
Borrowing is nothing else then giving up expected future value in the economy for receiving value in the economy now.
For this a premium is to be paid. This premium has to be more then the increase in value that the loaning party expects otherwise the value to be borrowed would be invested for maximum increase of value. This premium is normally called interest.
There is still nothing wrong with the loan, especially not if the borrowed value is invested in something that is expected to create more value then that has to be payed back. In that way both parties to the loan get an increase of their value in the economy. It is also not problematic is some of the loans are used to aquire value for the sole purpose of consuming it. The problem occurs when most loans are of that type (the US has that problem at the moment).
So contrary to the assertion that interest only works in an economy that has to be constantly tightened (an assertion that would be true if the economy was a zero sum game) what interest does is tell people what the price is of value if they want to borrow.

There is also a problem with the idea of free bills.
Money is just a good that people prefer to use as carrier of value. The price of money has the tendency to drop to the cost to make it plus a profit margin of around the interest rate, unless the production is artifically controlled. By starting to make bills this tendency to inflate will only skyrocket to what it already is.

 
At Monday, January 30, 2006, Blogger qrswave said...

Anon [4:07pm], thanks, I agree, people have a tendency to hoard. but I don't think it would be too bad. Certainly not as bad as it is now.

Also, a man by the name of Silvio Gesell proposed a possible solution for giving people a disincentive from hoarding their money (i.e., an incentive to deposit it for circulation).

I don't think it would be necessary, though. Money could not be made as easily as it is now by so few people. If interest and IP were abolished everyone would have to work for a living, albeit much less than we have to work now.

But, also there are creative ways to give people incentive to save with banks (nonprofit ones). For example, banks can also serve as multi-purpose (also nonprofit) insurance institutions (social security, health, liability, etc.). I am certain that where there's a will, there's a way.

But, ofcourse the banks must be manned by our most honest citizens with software and a papertrail that could verify their honesty..;)

Again, it won't be as hard in an interest-free, 100% reserve world to keep track of money because we won't have to keep track of interest.

Anon [6:35pm], of course the physical economy is not zero-sum (provided you use resources in a sustainable manner). An interest-based monetary system, however, is.

But, its effect on the physical economy is to perpetually, and increasingly disadvantage productivity in businesses and communities that lack working capital. This is true because through interest, people with more money, get even more of it. While people with less, must work harder to access even a little of it.

RE: your time value argument for interest is simply a description of exploitation. Someone needs something now; you have it; so you extort a greater value from them in return. It's antisocial. Plain and simple.

Besides, you completely ignore the fact that interest is never issued, it's only charged. Therefore, in an interest-based economy new money must be continually printed not because there is any increase in productivity, but simply to satisfy all the interest.

I'm not sure that I understand your third point on free bills. Maybe you can elaborate.

Thanks, for the comment.

 
At Monday, January 08, 2007, Anonymous Anonymous said...

"Money has no intrinsic value. Bushels of it are printed every minute by our government, at nominal cost, only by the authority vested in them by us, through the Constitution."

It may be printed in bushels per minute, but it is not printed by the government, but rather by an unaccountable private corporation known as the Federal Reserve. Your federal tax dollars go to servicing the interest on every dollar printed. I could say it is a license to print money, but that is kind of like stating the obvious.

 
At Saturday, January 27, 2007, Blogger Claymoremind said...

You said
"This zero-sum result is inevitable in a system based on interest because interest is NEVER issued, it's only charged."

Never fear. The quality counterfeiter is always around and more than happy to print script that is unbacked just like the FRNs, but he does it interest free.

The script to pay the interest is circulated by the counterfeiter, plus a surplus to make a real labor backed economy grow.

Why do you think that the Secret Service only has 3 charges - Presidential security, Counterfeiting, and recently added computer financial transaction fraud.

The Secret Service protects the power mechanism of the Secret Government.

 
At Monday, February 05, 2007, Blogger Shane said...

I wish to clarify some things.
While the U.S. Treasury prints the Federal Reserve Notes, these notes are called "printed matter" and are not money until the Federal Reserve bank issues them.

The Federal Reserve pays for the cost of printing the money (not necessarily for cost of transporting the money) so the U.S. government goes into the red for every bill that is printed. The U.S. government issues bonds to get Federal Reserve Notes (or more accurately an entry in the Federal Reserve Bank that could be redeemable for notes, that the Treasury would have to print and pay for the transport of). The bonds are interest bearing bonds, so every dollar that the U.S. Treasury prints (because the U.S. Treasury is not allowed to issue money) creates approx +.05 worth of additional debt.

However the money does not even have to be printed, the money can be created in the Federal Reserve computer system without having been printed by the treasury at all.



"Mariner Eccles, former chairman of the Federal Reserve Board, held the following exchange with Congressman Patman before the House Banking and Currency Committee on September 30, 1941:

Congressman Patman: "Mr. Eccles, how did you get the money to buy those two billions of government securities?"

Mr. Eccles: "We created it."

Patman: "Out of what?"

Mr. Eccles: "Out of the right to issue credit money."

 
At Wednesday, October 24, 2007, Blogger Oksana said...

But, also there are creative ways to give people incentive to save with banks (nonprofit ones). For example, banks can also serve as multi-purpose (also nonprofit) insurance institutions (social security, health, liability, etc.). I am certain that where there's a will, there's a way.
Nonprofit corporations can also help with that.

 
At Wednesday, October 24, 2007, Blogger qrswave said...

yes, oksana - very true!

why don't you join us at the new site:

www.wakeupfromyourslumber.com

We'd love to hear from you over there!

 
At Thursday, February 14, 2008, Blogger Manikandan said...

I had my first headhunt in the curikudos job fair held in 2006. And now i think its time to switch over. Can some one let me know when the job fair starts again

 
At Wednesday, May 21, 2008, Blogger world-peace-society said...

This doesn't reflect the "real?" unemployment figures.

 
At Thursday, May 22, 2008, Blogger Roya said...

If I said I have the answers -
would anyone listen? I have !
Are you listening? Anybody?

Roya Dayspring

 
At Thursday, May 29, 2008, Blogger BANA said...

Yeah but the powers that be will never change the economics of this country unless they are overthrown by a revolution (and I don't mean the Ron Paul variety).

For revolution,
BANA

 
At Thursday, June 12, 2008, Blogger Laz said...

You people are pathetic, you are willing to point the finger and blame anyone and everyone for your problems, except yourselves. Are there some unfortunate victims of society? Yes, but you aren't one of them. The reason you can't find a job is because you are lazy and spend your time thinking up conspiracy theories instead of filling out job applications or getting an education.

Your personal failures are not the fault of the government or any financial institution. Your idea of just printing more money every time there is a budget crisis is idiotic. There is a little concept called "inflation" and I think you should look it up. If the government just printed more money it's value would lessen. While the government might have more "dollars" the goods and services it wants to acquire would be more expensive due to inflation, as such they would still be in the same predicament. In fact, the economy would end up even worse off.

This whole website is ridiculous. All of you are self loathing ignoramuses who hate who and what they are so much that they project their hatred to others. You blame Israel, a country on the other side of the world from the USA for the problems in your daily life. That is the most ridiculous crap I have ever heard in my life. I could sit here and pick a part every single one of your theories and ideologies but what would be the point. People like you don't listen to reason or logic. Any time you are faced with concrete facts or evidence that disproves your theories you cry conspiracy and claim the entire world is collaborating to trick a bunch of poor sociopaths, living in their Mother's basement, to bend to their will. Like an unemployed, uneducated, idiot would be of any use to a world government, shadow government, or secret society that owns the world.

Please get a life and realize that Israel does more to benefit the world in one day then you will do in your entire lifetime.

 
At Sunday, June 22, 2008, Blogger IT SAK said...

We have the same problem in Sweden.

Here we also got our politicans Propaganda that we are lazy and compared to illegal activites.

We are also Fighting the FRA LAW.
Who will turn Sweden into a 1984 G Orwell Night mare..

O thats right its the world power elite who are doing this toward us not the chines or japaness or the jumbo jumbo bs.


""""documentary Ring of power"""

Start reading the docs of the TRial commission ... DONT be fouled...

 
At Wednesday, July 02, 2008, Blogger STaeschner said...

This was a well-written article.

However, the author forgot to mention that choice is involved with private bartering between individuals, just as choice is involved in private exchange of goods or labor with other business entities.

The vehicle of monetary exchange between individuals bartering is decided upon by themselves. Whether they are satisfied with the equal or unequal exchange of goods or services is up to them.

Individuals can choose to work extra for eachother in exchange for goods or services, or give up some material item(s)until satisfied that equal exchange/worth has been met. Or, one can hold someone's property until the debt is paid in full.

Since these trades are private and difficult to prove as an economy (though seen as black market underground economy), the government hates it. The government can not charge taxes on the labor or goods exchanged and loses power.

It is easier for the government to charge taxes to businesses that are non-breathing entities of monetary commerce/trade and make money, than to employ men to collect for them at every turn. The businesses simply pass the tax onto the consumer in higher prices and sales tax paid at time of purchase.

The goal for individuals should be self-sufficiency. Trade in gold and silver bullion or survival items as sources of tangible exchange, rather than the empty promise of paper fiat.

Remember the miners who melted down their gold into buttons? (It is still illegal for individuals in the USA to melt down their own gold...only the US mint can...or a privately government-licensed mint can) These miners realized that not everyone had silver to exchange. Thus, they cut the small flattened gold buttons into 8pieces...called ´´bits.´´ Thus, there is the nursery rhyme,´´Two bits, four bits, six bits a dollar...´´

Avoid using government issued paper money. You have a choice. The government has to catch you in order to tax you.

Sincerely,

Sean T. Taeschner, M.Ed.
Seattle, WA USA

 
At Thursday, September 11, 2008, Blogger Michele said...

You are so right it is damn hard to find a job these days and they treat you like you are some type of murderer or drug king pen. I am a 50 year old black femal and smart with computers and office work. Why I can't get a job I don't know. I have a criminal record from long ago and they still allow employers to go past 7 years. My record is not bad but you would think I killed someone the way I look at you. I see why people steal, sell drug etc...the society is leaving them to go that way. I would never do that and I want a job soon or I am going to start thinking another way LOL!

 
At Thursday, September 11, 2008, Blogger andrew said...

The Federal Reserve System is Unconstitutional... period.

Any other discussion is useless. Focus on this one simple fact.
Force our politicians to end it.

If you don't, nothing will change.

Send emails, pick up a pen and write a letter, talk to other people about it, make it an issue of patriotism because the real terrorists are those who support this unconstitutional act.

 
At Monday, September 15, 2008, Blogger BlogReader said...

Interesting reading about the walmart jobs article! I live in the uk and the supermarket here would be asda stores which is linked together with walmart. I am 41 and unemployed and finding it impossible to just pick up casual work whether it be factory, retail, warehouse or cleaning type jobs. The supermarket and fast food places typically go for school leavers 16+ here because they only have to pay them just over 3 pounds a hour whereas over 21's its around 5.80 min wage by law. The rest you have to have had previous experience or they don't touch you either and in my case both my age and being unemployed make it literally impossible to get a break back into a job in these sectors. There's no shortage of people employers can choose from here and the 3 different legal set wage limits just add to the discrimination over people in my position.

 
At Friday, October 31, 2008, Blogger Travis said...

If this creates a zero sum game then how has the economy managed to grow under this system? You need to go back to Econ 101. The reason the Fed controls the money supply is so that they can manipulate the interest rate. This is an important tool for energizing a weak market. On the flip side, an increase of the interest rate can cool off a booming market, reducing volatility and speculation.

Blaming the banks for being the vehicle through which lending is carried out won't help your case either. After all, someone has to be there to give people home loans and auto loans. What banks REALLY do is take our deposits, hold onto 10% of them and lend out the other 90%. They make interest from that 90% which keeps them in business and offers their depositors such services as free checking (the typical check takes around $2 to process from beginning to end) and ATM machines for withdrawals, and online banking.

When banks do receive loans from the government they are generally overnight loans used to meet deposit requirements.

I can also do little more than scoff at this idea of "interest free" loans. Think of it this way... The interest rate is the "price" of money. We are all aware that the value of a dollar can fluctuate (inflation). Part of what keeps this fluctuation in control is the current interest rate. The value of the dollar will never fall below a certain point because it can always be "loaned" to earn additional capital. Your idea of a zero interest rate loan system basically removes all value from money and would put our system in a tailspin that we would probably never recover from. You know just enough to be dangerous sir.

And before you pigeonhole me, know this. I AM the most liberal person I know. And I DO have a degree in financial economics from a REAL 4 year state university.

 
At Wednesday, December 03, 2008, Blogger Willie said...

The comment above this was written by Travis the simpleton a.k.a. moron.

"I can also do little more than scoff at this idea of "interest free" loans"
&
"I DO have a degree in financial economics from a REAL 4 year state university"

You still don't get it 4 proud years of brainwashing has seen to that, fuck off and watch CNBC or play with your debt paper $$$

 
At Thursday, December 11, 2008, Blogger Frobozz said...

Interest serves an obvious purpose.

If someone lends you money, they are taking a risk that you might default. This is a negative incentive to make any loans. This is also why you might notice that economies predicated on non-interest payment (such as might be found by those following Sharia law), tend to be basket cases. Telling us that this is just a coincidence, and something else causes these problems in each of these countries is whistling in the wind.

Even if you were allowed to exactly price the risk of loan default and call that your interest (and who can -that- precisely price risk?) you are still left with no incentive for lenders to lend, unless the prospect of profiting from the loan is introduced.

If you truly believe that the economy would improve and joblessness would be eliminated by denying any new concern the prospect of optioning seed capital - and make no mistake, this would be the effect of outlawing the collection of interest - then I humbly posit that your continued writing on this subject is actually subtracting from real knowledge in this world, and you might want to consider another hobby.

If you are interested in learning more, check out the Foundation for Economic Education website (fee.org) and read "Economics in One Lesson" by Henry Hazlitt, which is available for free on that website.

 
At Tuesday, December 16, 2008, Blogger itrade4real said...

Excellent article. It sounds as if the system eventually crushes itself, and we can only facilitate the process!

Wake up Americans!

 
At Monday, December 29, 2008, Blogger ghostwriter said...

Unemployment is actually closer to 25%. See this at:

http://www.controversialpolling.blogspot.com/

 
At Thursday, January 22, 2009, Blogger richard said...

niggers feel the obama victory is a positive effect. I was in college , and will tell you that niggers are not the best in the thinking field. but liberals will say this is rascist!!ok live it this way , you are doomed! dumb fucks! you aint black .maybe tou want be wigger. FUCK YOURSELF!!!!!!

 
At Monday, February 16, 2009, Blogger mugwort said...

Travis (poor deluded fool) wrote:

“I can also do little more than scoff at this idea of "interest free" loans.”

Usury (the taking of interest for loans) is forbidden in the Christian as well as Muslim religions, for good reason – though Christians have long since ceased to observe the ban.

Muslims, however, do observe it, and it is a fact that the economies that remain sound today are those that observe this Muslim law (see http://www.bt.com.bn/en/analysis/2008/11/11/no_recession_in_leading_muslim_economy).

You don’t get it. Except in a criminal system designed to make money for the perpetrator at the expense of the ordinary people, money has no value in itself. Try eating some paper money, or even a piece of gold, when you’re starving – or wearing it when you’re freezing, or building a house with it when you’re homeless!

The entities that have intrinsic value are goods, and the labor that creates and makes available those goods. Money has no value except as a means of distribution.
When there is a depression, the willingness of people to produce and make available needed products has not disappeared – nor has the demand for those products: people still have the same needs they have always had (that’s why people starve and freeze in a depression); the only thing that has disappeared is the means to connect the market with the producers, and the producers with the raw materials they need. And the people who regulate the supply of that means, in our present system, don’t give a flying f__k if any- and everyone starves and freezes, as long as it doesn’t hurt their lifestyle.

Plato wrote that when money ceases to be merely a medium of exchange and becomes a commodity in itself the economy is doomed. ...

All your years of studying economy have been for the purpose of obscuring from you these basic facts and replacing them with a bunch of gobbledy-gook that serves to justify - in the minds of both “economists” and the ordinary people who are taught that they are too ignorant to understand this supposedly complex and esoteric subject – the machinations of a bunch of greedy and power-hungry psychopaths.

 
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