Why is Usury the Root of All Evil and how will the OITC eliminate that Evil?
By Ron Chapman
Usury (the payment of interest on debt money) is the root of all evil because it enables bankers to steal the fruits of the labour of humanity and to own the resources and wealth of the whole world. How? Simple really. Banksters create money out of nothing AND charge interest on that fictitious money. Moreover, that money creation is ONLY undertaken in response to requests for loans so it is really debt not money.(1) Thus, over time, banksters come to own everything. In 1694 a group of private individuals was granted a charter to establish the Bank of England in terms of a declared prospectus that: ‘The bank hath the benefit of the interest on all monies which it creates out of nothing’. Since that time the practice has spread around the world until today bankers routinely create money out of thin air and charge interest on it.
However, the real trick lies in the fact that the bankers NEVER EVER create the monies needed to pay the interest on the loan monies so created. Think about that. Money is only created when a borrower agrees to repay the amount of the principal sum borrowed PLUS interest on that principal sum for a specified period at the end of which time the principal and interest thereon must be paid in full. BUT, as money is only created into circulation through borrowing, and banks NEVER create any money to pay the interest on loan monies borrowed, THERE IS NEVER ENOUGH MONEY IN THE SYSTEM nor can there ever be.
Remember also, today the banking system is a GLOBAL system, controlled by Central Banks in virtually every country. That means that there is no source of money OUTSIDE of this pernicious system [other than the wealth administered by the Office of International Treasury Control (OITC)] from which borrowers might hope to obtain money to pay bank interest. The system is closed and it’s a win/lose, dog eat dog world in which losers lose everything. Think of it as a global game of musical chairs in which losers don’t just lose their seat, they lose their jobs, homes, farms, businesses and even the shirt off their backs. Ask the tent people in US cities today, or those sleeping in their cars when the time comes at which they can no longer afford gas (petrol) to drive anywhere. The system is designed to have this affect.(2)
But I digress.
Those national Central Banks are in turn controlled by the king pins of the Federal Reserve System, namely the Bank of International Settlements (BIS) in Switzerland, the US Federal Reserve in New York and the Bank of England in the City of London.(3)
The Central Banks control the money supply by increasing and decreasing interest rates and providing or withholding “liquidity” by “lending” or withdrawing funds to commercial banks and increasing or decreasing the asset reserves commercial banks are required to hold in order to retain their licence to operate as a bank and "lend" fiat money.
The fact that there is never enough money in either national or the global monetary systems to meet the interest repayment requirements of the banks creates an escalating need to borrow more and more to pay that interest thus forcing individuals and nations to constantly borrow ever-more fictitious fiat money, thus becoming ever deeper in debt.(4) This enables the bankers to hold borrowers ie our entire global society, to ransom. This happened in 1929-33 and is happening again now. It also happens in parts of the world (eg Russia in the early 1990s; The South-East Asian nations during the “Asian Crisis” of 1997-8; and more recently in Argentina, Iceland et al.
Banks harvest not only interest payments but also property as they foreclose on mortgages and loans whenever borrowers fail in their increasingly desperate bid to dredge up enough fiat money to pay interest on their loans along with repayment of the principal. This periodic “harvesting” is routine. Notable instances include the depressions in the US, Australia and other places in the early 1890s, the bank panic in New York in 1907; the Great Depression (1929-39); the oil crises and their aftermaths in 1973 and 1979; and the current global depression which is being masked by the humungous creation of fiat monies out of thin air which are being given to favoured big banks and corporations (but not spent on or by ordinary folks thus hiding from view the enormous inflationary potential of the money creation involved) so that stock markets are being fraudulently inflated and gold prices artificially held down by the banks that have been given this "bailout" money to play with. The fraudulent manipulation of stock, share, gold and commodities markets is masking the inexorable collapse of the US dollar so that the impending consequent enormous inflation of the price of necessities in the US remains temporarily hidden from general public consciousness.
At the heart of all these bankster machinations is usury – the fact that bankers charge interest on monies they create out of thin air. Without usury there would be little incentive or ability for bankers to distort national and/or global money supply systems in order to create periodic booms and busts with a view to destroying wages and employment to create covert political control of society, while stealing the assets and fruits of the labour of workers and others. It is the ability to profit from receipt of interest payments charged on the essentially unproductive activity of money creation and supply that has distorted and corrupted both the global economy and global society. Accordingly usury HAS TO BE ELIMINATED." (snip) ...
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