Global Usury Threatens Planet

by Keith Gardner

"The Intergovernmental Panel on Economic Racketeering announced today that global economic rent and usury threatens the planet. “Even the Eskimos are drowning in debt”, reports one scientist, Michael Gore, studying the cause of economic poverty. “Soon, their homes will be foreclosed, and they’ll be homeless in Alaska where there is more than enough land and natural resources for every citizen to own over a thousand homes. The pace of foreclosures is frightening.”

If the pace of economic rent and usury as a percentage of GDP continues, California would be completely bankrupt if the cost of insurance, debt, and rent continues, driving everyone out of their homes and shutting down businesses everywhere. Gore warns, “While it seems that the rent is becoming cheaper, one has to remember that high levels of debt are still making the rent expensive, especially for 99% of population who are becoming poorer while the top 1% are grabbing all real assets for pennies on the dollar.” This confusion leads many experts to call it “wealth change,” or “socialism for the rich,” where government enables the wealthy to steal wealth from the productive.

Usury and economic rent threatens the whole planet. No nation is unaffected by global usury and economic rent. The Federal Reserve can print more money than it sells as treasury bonds, but the Federal Reserve still collects a small percentage for having the unsold debt on the books. Most nations are under the strict control of the IMF and World Bank, enforcing the harmful credit-based monetary and banking systems threatening the planet and enslaving smaller nations into banana republics where the people are handed debt and giant corporations are handed land and natural resources. The only nations not under control of the usurious IMF and World Bank cartel are rogue dictatorships where the government collects all wealth and where the people do not benefit from their own production.

The world has not always had usurious monetary systems. The Roman empire was built with bronze and copper coins. The British empire was built with Tally Sticks. Iceland and Canada had public banking after the Great Depression, but they became engulfed by the IMF after the stagflation of the 1970s. George Washington financed the American Revolution with the Continental though it was plagued by massive counterfeiting by the British military. Lincoln financed the Civil War with the Greenback. Local scrip was also used in the early American colonies and the Great Depression. Various other barter currencies have also been used not tied to debt or expensive commodities like gold.

Gore passionately explains, “It is an inconvenient truth that the cost of interest is killing us. We are paying taxes on our earnings just to pay interest on public debts. Then, we have to turn around and pay the cost of interest and economic rent on everything else. The interest on homes and business even exceeds the cost of the land and development. We pay more on the interest on our home than we pay for the land and the builders who built us a home.”

Gore continues, “The financial, insurance, and real estate industries are 40% of the GDP. If you add national debt and the cost of rent, the numbers are horrifying. The value of debt and economic rent exceeds our GDP. We are worse off than the tenant farmers who paid rent to the land barons and serfs who made tribute payments to the monarchs during the Dark Age. If you want to know who is stealing your wealth and destroying your jobs, you can point your finger at the big banks and the governments and big corporations they control, including the news the television tries to sell you as truth and the candidates they try to get you to elect. It should make you angry. Even Jesus lost his temper at the banks.”

Gore suggests that we move towards a public sovereign currency free of usury and economic rent. “If the government actually printed money rather borrowed it, we would not even need income taxation to pay interest on national debt. Any inflation not corrected by economic growth would be an ideal progressive tax, which would encourage investment and job creation, without government forms. Even the Libertarians should like getting rid of the national debt and IRS.”

The legal tender of a nation should fund the government. Government should not have to pay interest on their own legal tender. For government to borrow it’s own legal tender is crony capitalism. It is a corruption of free markets.

Thomas Edison made this suggestion clear in a newspaper where he wrote, “It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people. If the currency issued by the Government were no good, then the bonds issued would be no good either. It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges at the hands of men who control the fictitious values of gold.”

Gore warns against a return to the gold standard since a gold standard would not be free of usury and economic rent. “We have not seen such high levels of economic rent and usury since the fall of the Roman Empire, when the Roman Empire went onto a gold standard and threw the world into a Dark Age.”

It is suggested by most experts to tax unearned income and end taxation on earned income. Taxing labor makes labor more expensive. It leads to off-shoring and outsourcing. Taxation of labor makes the poor more poor. The income tax destroys jobs.

You do not have to tax labor if you tax economic rent through a land value tax. Land value tax is not only a more fair way to fund government, it makes land more affordable and encourages productive and efficient use of land. It prevents the creation of slums and homelessness. It prevents land being monopolized. Land monopolization forces citizens into sweat shops and modern slavery, which is more stark in small and undeveloped banana republics. The rich become richer in the sleep just because they own land. The poor become poorer because they must accept whatever wages are offered.

For developed nations, land value taxation prevents boom/bust cycles in real estate since homes is valued according to the value of the development rather than the supply and demand of the land.

Taxation on undeveloped land value can be made progressive with a citizen dividend, to make sure every citizen has the right to land. America’s best-selling and self-published economist, Henry George, made the statement, “How can a man be said to have a country when he has not right of a square inch of it.”

It is noted by some the classical liberals and even the Bible supports such an economic policy. The income tax was originally a tax on unearned wealth in America.

Gore also suggests providing public options in banking and insurance. The state of North Dakota has a state bank. The profits of the bank are used to fund government and make public finance less expensive. This is a positive step towards using the unearned wealth of usury to fund government rather than the usurer. Citizens everywhere can use a credit union, to make sure the profits of banking are used to help the people finance their needs, and are encouraged to use small commercial banks who finance small business. It is critical to avoid the larger commercial banks since they have the power to corrupt governments.

Insurance is a form of finance and usury. Non-profit options in insurance is also advised since the insurance corporation have a history of corruption, even delivering the very unpopular legislation, ObamaCare. The family doctor and their patients have been turned into corporate slaves. A public option in health insurance is the only hope in reversing this trend by removing the profit motive of big banks and big corporations to lobby and corrupt government." (snip) ...

NOTE: This article is originally published at this website:
http://libertyrevival.wordpress.com/2012/02/06/global-usury-threatens-planet