Shifting The Economics Of Poverty
Poverty has been with us for as long as the immoral and evil function of usury has been exacted on enslaved debtors by greedy creditors. Indeed, poverty is more obvious. more extreme and more in your face in the third world countries than it is in Canada - where I am domiciled.
On a journey to the rural and urban areas of the Philippines in April 2012, I witnessed the simple and complex lives of the poor - in stark contrast to the multi-faceted and more prosperous lives of the middle class and the wealthy - all of whom live in close proximity to each other.
I walked the streets and alleys where the poor live in the urban areas and I walked the paths of the rural areas on a couple of the 7000 islands that make up the total land mass of the Philippines. The most profound experience was having the unique privilege of mingling with 100+ poor children who basically live and survive on the streets of Cebu City.
Every couple of months, a local company, generously pays for a meal for these 100+ poor children at a local restaurant in Cebu City and I had an opportunity to be there with them on Wednesday, April 25, 2012.
The children had smiles on their faces and food in their bellies for that evening and many of them took food out of the restaurant with them to have for the next day. I commend for initiating this generous activity and I invite any small-to-medium sized compnay to consider supporting the Joint Venture Proposal as outlined by Eric Encina, (see further below in this article)
Every couple of months, a local company, generously pays for a meal for these 100+ poor children at a local restaurant in Cebu City and I had an opportunity to be there with them on Wednesday, April 25, 2012.
The children had smiles on their faces and food in their bellies for that evening and many of them took food out of the restaurant with them to have for the next day. I commend for initiating this generous activity and I invite any small-to-medium sized compnay to consider supporting the Joint Venture Proposal as outlined by Eric Encina, (see further below in this article)
As well, I walked through the more prosperous and upscale financial area of Cebu City commonly referred to as the “Queen City of the South” and I enjoyed taxi rides to various locations in Cebu City and surrounding area.
In summary, the problems that come with poverty are much more evident in the Philippines and in other third world countries than in Canada, but the cause of poverty is directly and/or indirectly related to the “usury trap” - otherwise known as the design flaw of usury as a malfunction within our orthodox, economic system of debt money.
The “usury trap” inexorably ensnares debtors everywhere - who for lack of knowledge, sign impossible contracts thereby agreeing to repay both the principal and the usury (interest), when only the principal was created and issued into circulation based on the debtor’s signature on the promissory note.
Before leaving Hong Kong, on my return flight to Toronto, Ontario, Canada, I purchased the book titled “Poor Economics” with a subtitle “A Radical Rethinking of the Way to Fight Global Poverty” to read during the fifteen hour flight.
“Poor Economics” is authored by Abhijit V. Banerjee and Esther Duflo who had been travelling the globe and working with the poor in dozens of countries, spanning five continents. They offer a ringside view of the lives of the world’s poorest people. Their website is: http://www.pooreconomics.com
It is written on page 43 of “Poor Economics” and I summarize: “ In a village in Indonesia, in the summer of 2008, Iba Emptat, the wife of a basket weaver was having trouble financially because her husband was experiencing health problems and could no longer work. She had no choice but to borrow money from the local money lender (the usurer). She used the money to pay for medicine and for food for the period when her husband was recovering and could not work. As debtors they had to pay 10% usury per month on the principal which they had borrowed. Unfortunately, they fell behind on their payments and the debt ballooned and the usurer threatened to confiscate everything they had.”
This is a classic example of the usury trap that guarantees this family (debtors) will be forever enslaved financially by the usurer (creditor).
Whether in Indonesia, the Philippines or any other third world country there are multiple millions of debtors whose misfortunes shift their future into the depths of poverty and they are trapped there for generation after generation.
According to Abhijit V. Banerjee and Esther Duflo every third household they interviewed in Udaipur, India was currently repaying a loan taken out to pay for health care - and a substantial portion of those loans are from usurers, at very high rates. They state that the standard rate of usury is 3 percent per month or approximately 42 percent per year. These are a couple of examples to show that people of the third world are commonly denied access to fair credit.
Without a doubt, the magic bullet to eradicate poverty forever on planet earth would be to abolish usury. Usury is the fifth column that the usurers depend upon as their key control mechanism over debtors (individuals, families, small-to-medium sized businesses, major transnational corporations, all levels of government and even countries) everywhere on planet earth. A fifth column commonly refers to any clandestine or hidden group, faction or idea that has a subversive agenda to undermine any nation’s solidarity. Usury has been undermining individuals and countries for thousands of years.
Without an unexpected miracle, usury is unlikely to be abolished in the immediate future since the usurers seem intent on maintaining their desperate usury-hold on their faltering and failing, orthodox, economic system of debt money. For any country to abolish usury, that country would be required to withdraw from the international banking empire where derivatives are gambled daily and the shadow government that controls elected governments in the so-called Western world as well as in the third world are not going to let that happen.
Indeed, macro-economic policies are unlikely to advocate or promote usuryfree living at the grassroots level of society. Therefore, change must be birthed within micro-economic circles at the grassroots level of society and the optimal solution is to implement the usuryfree, time token model for bartering, trading and exchanging products and/or services. Local communities anywhere and everywhere can launch the usuryfree time token model immediately.
This article titled: "Any Filipino Town (Community) Can Launch A UsuryFree Time Currency" adequately explains how and why a usuryfree time token project can work for any Filipion town.
When usuryfre time token projects are fully operational in multiple thousands of local communities, inter-trading between these participating communities can be easily facilitated given the ease of modern internet technology. Eventually, we can expect the economics of poverty to shift and become the economics of prosperity - where everyone on planet earth experiences the reality of usuryfree living. Mathematicians claim that when 3% of any population is converted to a different model, this becomes the tipping point or the magic number that completes any shift in consciousness.
This article titled: "Any Filipino Town (Community) Can Launch A UsuryFree Time Currency" adequately explains how and why a usuryfree time token project can work for any Filipion town.
When usuryfre time token projects are fully operational in multiple thousands of local communities, inter-trading between these participating communities can be easily facilitated given the ease of modern internet technology. Eventually, we can expect the economics of poverty to shift and become the economics of prosperity - where everyone on planet earth experiences the reality of usuryfree living. Mathematicians claim that when 3% of any population is converted to a different model, this becomes the tipping point or the magic number that completes any shift in consciousness.
In the meantime, as active, usuryfree creatives who are dedicated to making a difference, we can set and achieve specific goals to reduce poverty and create a more fair distribution of wealth within selected, local communities (a) where there is evidence of the most acute consequences of poverty and (b) where there is evidence of local leadership and sufficient motivation to implement monetary justice among those debtors who are willing to participate.
There is much evidence to suggest that individuals and/or small organizations are more effective at putting an end to chronic poverty than the larger organizations that are so top heavy with administrative expenses, government politics and bureaucracies, detailed policies and extensive paper work, that only small percentages of collected funds ever reach the poor people who live in extreme poverty.
What Can We Do?
We could offer gifts or grants as capital seed funds through duly registered charitable organizations that can guarantee the full amount of the gift will be delivered to any local business project. Perhaps some reader can suggest a duly registered, charitable organization that could possibly become an intermediary entity between prospective donors and potential recipients of any gifts or grants.
We could implement usuryfree, micro-finance programs and help provide seed capital for local business projects - where terms and conditions guarantee the lender a positive return of investment for a successful venture. Of course, the lender must be willing to risk the possibility that the business venture might fail due to circumstances beyond the control of the borrower - such as weather calamities, unexpected tragedies and/or s severe economic depression.
In micro-finance programs, I recommend that usury be abolished and replaced with a simple service fee on loans that can be collateralized for the security of the participating lenders. In the alternative, any loan could be uncollateralized if the lenders and borrowers agree to good-faith terms. Any agreed upon service fee payments would be collected on a monthly or annual basis.
Usuryfree loans are the perfected model - the ethical, moral and Biblical way of lending money, so let’s initiate usuryfree lending now.
Since, I have visited the Philippines and witnessed the extreme poverty there in the Spring of 2012, I am recommending that any interested individuals contact me about a Joint Venture Proposal for a minimum of $1000. (US Funds) up to a maximum of $2000. (US Funds) for setting up a local business food store in Roxas City, Capiz Province, Philippines. This Joint Venture Proposal was recently submitted to me by Eric Encina, a native Filipino. I will share the details of his Joint Venture Proposal upon request. Hopefully, 20 active, usuryfree creatives will be motivated to come forth and gift $100. each so that the amount of $2000. (US Funds) could be raised to fund Eric Encina’s Joint Venture Proposal.
I had the opportunity to meet Eric Encina during my visit to Cebu City, Philippines and I am fully satisfied that his Joint Venture Proposal would be a good starting point to become a catalyst in “Shifting The Economics Of Poverty” and making a difference in the lives of those poor people who would choose to participate in the Philippines.
The most realistic statistics shows that 88% of the Filipinos are poor, that is approximately 72.16 million. Hence, 50% of the 82 Million Filipinos live below poverty line, that is, about 41 million where cases of death rate are very high in the countryside. In order to prevent from poverty trap or not to be below poverty line, a Filipino Family actually needs a minimum $300 (US Funds) in Philippine Peso value monthly income for survival.
Significant Statistics About The Philippines
Philippines have 3.7 million children working from ages 5 to 7. There are 10.6 million children who are malnourished.
Between 1995-2000, there were 23 million malnourished Filipinos, although it may declined somewhat, it is still a major problem. There are 28.7 million Filipino young people who are alcohol or liquor addicts. There are already alarming rate of young addicts to marijuana and shabu and to other illegal drugs in the countryside. The total drug addicts are reportedly around 5 million according to the latest statistical reports. Some are doing drug trafficking for business and employment purposes. However, illegal and highly toxic drugs are also a real threat to all people. This is a real international problem affecting nations, local peoples and communities everywhere. Again, under the present, usury-based, debt money system, this is all about profit of those companies and tycoon-individuals who seek to victimize the poor and innocent debtors.
The official statistics of University of the Philippines’ Population Institute, and the available evidence, is showing that the suicide rate of the Filipino people has increased to 1.9 million suicide cases or 5,205 daily in the countryside.
The major reasons or causes are: poverty, debt, bankruptcy, desperate money problems, unemployment, insecurity, family problems, addiction, diseases and philosophical/ideological/spiritual reasons or cults. But most of these are mainly influenced by the devastating effects of an unfair, present financial system, that exacts usury from debtors.
In summary, Philippine situation is very serious, increasing debts, interest, corruptions, rebellion or insurrection, crimes, violence, war in the southern Philippines, poverty, hunger, starvation in the countryside, massive unemployment, political chaos, moral and social decadence and collapse.
Here are some of the problems in the Philippines as outlined by Eric Encina:
1. Millions of aged Filipinos are living either on or very near poverty line with delayed pensions and some WWII veterans are still waiting for pension payments.
2. Millions of Filipinos are living in slum and squatter conditions in most major cities particularly in Metro Manila . Millions are without owned homes, or homeless, millions are struggling to own homes after 10 to 20 years time, millions more are living in old houses, broken shacks, dilapidated homes. There are homeless people living in the streets like the beggars, children and women prostitutes.
3. Many hundreds of thousands of individuals or families if not millions are suffering bankruptcy every year because of debt, interest and calamities.
4. Thousands are reportedly committing suicide every year. Most suicides are primarily caused by economic and financial crisis among other causes like family problems.
5. Millions are on the way to overseas lands for job and security. There are reportedly 5,000 to 6,000 Filipino applying jobs overseas daily that is causing the TREMENDOUS BRAIN DRAIN more than ever.
6. Many thousands are going to jail every year for both petty and heinous crimes which I view related to economic, money and survival crisis.
7. Millions are under employed, unemployed and threatened to lose jobs every year.
8. Hundreds of thousands if not millions of unborn babies are being killed by abortion because of money problem and financial crisis.
9. Thousands of separations and family breakdown due to money and economic crisis.
10. Millions of children reportedly suffering hunger and malnutrition. In the latest reports, there are 3.3 Million Filipino families suffering hunger daily.
11. Millions of Filipino farmers are losing income and suffering dire poverty and hunger and diseases caused by the crisis or by chemically-based farming.
12. Millions of are struggling daily to make ends meet even in this age of galloping inflationary pressures obviously by usury-based debt money.
13. Millions suffering hunger despite of the age of plenty.
14. Interest (usury) payments are more of a priority of the Government than social services and economic security for the Filipino people.
13. Millions suffering hunger despite of the age of plenty.
14. Interest (usury) payments are more of a priority of the Government than social services and economic security for the Filipino people.
15. Children abuses and hard labor are rampant.
16. Thousands of Filipino women are under trade flesh or prostitution.
17. Rampant rebellion and insurgencies all over the country because of economic crisis that prevent peace and development. These insurgencies are directly and/or indirectly caused by the design flaw of usury on the orthodox, debt money system.
18. The environment in the Philippines is continually deteriorating not only because of natural calamities but also because of man-made destruction in pursuit of profit by the major transnational corporations.
19. Millions of Filipinos are losing faith and morality - a sad reality because of usury.
20. What about indigenous Filipinos in the countryside who are being marginalized in favor of privatization and selling off government assets. The government allows 100% foreign ownerships of Filipino land which is something that must be discussed in any change of the Constitution.
19. Millions of Filipinos are losing faith and morality - a sad reality because of usury.
20. What about indigenous Filipinos in the countryside who are being marginalized in favor of privatization and selling off government assets. The government allows 100% foreign ownerships of Filipino land which is something that must be discussed in any change of the Constitution.
Comments and feedback welcomed!
When we are successful with one Joint Venture Project we can expand our vision and fund additional Joint Venture Projects - in the Philippines and/or elsewhere.
Additional Resources:
An Timely Essay by two Grade 8 Students is titled:
Eradicate Poverty and Hunger - Still A Question Of When
Eradicate Poverty and Hunger - Still A Question Of When
posted by usuryfree @ 10:24 PM
21 Comments:
Jct: Hate to rain on the parade but why would I send any money to Eric Encina when he couldn't even organize his people into a little LETS timebank? When he asked me for funds, I told him to start his own timebank. Guess he preferred looking for funds.
Dear King of the Paupers, with all due respect, it seems you are making rash judgment. I WOULD LIKE TO FORMALLY ENCOURAGE YOU to visit first Philippines. LETS time bank require computers and this is not easy for us to do so. I would like to invite to come here first. You don't understand my proposals about joint venture which is a project as back up for the future of usury-free campaign-projects for the long-term. When you judge, make it sure, you have back up. I AM OFFENDED TO YOUR COMMENTS.
THE BANKERS ARE SATAN HERE ON EARTH!
“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.” – Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the 2nd wealthiest man in England at that time.
Who are more evils and wicked than bankers? Bankers are worse criminals ever conceived in the world. That's why Jesus Christ expelled and kicked the money changers, the bankers and those money addicts. "And Jesus went into the temple of God, and cast out all them that sold and bought in the temple, and overthrew the tables of the money changers, and the chairs of them that sold doves." - Matthew 21:12
The bankers are the major culprits, the major robbers and government and its politicians the secondary robber. Look in my recent articles how the international bankers INDUCE PHILIPPINES TO TAKE OUT FURTHER LOANS BY $billions this year and only end to corruptions and scams in the Philippine Government.
THE BANKERS ARE SATAN HERE ON EARTH!
“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.” – Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the 2nd wealthiest man in England at that time.
Who are more evils and wicked than bankers? Bankers are worse criminals ever conceived in the world. That's why Jesus Christ expelled and kicked the money changers, the bankers and those money addicts. "And Jesus went into the temple of God, and cast out all them that sold and bought in the temple, and overthrew the tables of the money changers, and the chairs of them that sold doves." - Matthew 21:12
The bankers are the major culprits, the major robbers and government and its politicians the secondary robber. Look below in my recent articles how the international bankers INDUCE PHILIPPINES TO TAKE OUT FURTHER LOANS BY $billions this year and only end to corruptions and scams in the Philippine Government.
Economic growth only for the interest of the elites, of the powerful few and of the bankers themselves?
It is indeed a crime that repayment of debt and interest is a top priority, institutionalized as Executive Order 292 that affirmed the “AUTOMATIC APPROPRIATION” of the full amount to service debt from the budget of the Philippine Government that was originally mandated by former Pres. Marcos Presidential Decree 1177 as IMPOSED, DEMANDED AND CONDITIONED BY the creditors - THE IMF AND WB in 1980’s as“national economic priority” on top of basic priorities for the Filipino people. STOP THIS CRIME. PEOPLE ARE IN GREAT DYING.
THE PERNICIOUS CULTURE OF INDEBTEDNESS AND USURY IS UNSUSTAINABLE. Philippine Government is in the dungeon of corruptions where science of corruptions is applicable, fueled by profligate spending for projects tainted with scams, continuous borrowings with corresponding increase of taxes for the same vicious cycles. All these are the fruits of the banking system scams of the fractional reserve prevailing in the world economy. PEOPLE’S MONEY IS ADROITLY GAMBLED BY THE BANKING SYSTEM – passing through a PARASITIC AND AVARICIOUS INTERMEDIARIES.
We’re in the complete madness and disarray! The people are in calamitous situations without respite, would be continually CRUSHED to the ground with increasing taxes to be imposed as one of the harsh conditions of the International bankers. LOAN WILL BE MADE UPON LOAN forever, worse than being hog-tied to debt money system.
Scriptural Basis For Usury-Free Loan Scheme:
[Exodus 22:25] If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury.
[Leviticus 25:36] Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee.
[Leviticus 25:37] Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.
[Deuteronomy 23:19] Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury:
[Deuteronomy 23:20] Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it.
[Ezekiel 18:17] He withholds his hand from sin and takes no usury or excessive interest.
Any government in the world that imposes a burden of debt and oppressively compounded interest payments on its citizens without their informed consent is guilty of robbery, treason and oppression -- a pestiferous crime against humanity beyond pardon.
Like other leaders in the world today under the imperialism of debt finance capitalism and compounded usury of global ex nihilo global banking scam, Philippine presidents and leaders have been duped by the bankers, and have infinitely borrowed horrendous debts using peoples resources and in the names of citizens but the borrowed funds were not fed down for the common good of the nation and of the people in great miseries but only back to the bankers and for the private sumptuous gains of the financial-economic, banking, political and military oligarchy, of the powerful few and tycoons. We are in the most despairing situation here in the Philippines under debt finance and usury without any respites, reliefs and consolations.
Even in Europe, reportedly, the citizens are also terribly burdened with fraudulent private debt at usury, and fraudulent government debt created by rapaciously criminal bankers using the fractional reserve banking and ex nihilo global banking scam of money creation. The situation is very similar also in the USA but most Americans are also lamentably silent.
The financial institutions and government max out the credit cards and then fraudulently co-sign all the Americans to pay the bills. Financial institutions and government agencies spend the money egregiously, wastefully and wantonly, and the pitiful citizens pay the bills.
As reportedly, IMF Managing Director/Directress -Christine Lagarde stated two days ago with an unbelievable insolence and cynicism that the Greek people would do themselves a favor by paying their taxes, that is paying their taxes to the bankers!
When the mugger has a knife on one’s throat he/she is doing himself/herself a favor by handing over his/her wallet to the crook who says: "Your money or your life?!" The bankers have all the weapons of arithmetic of mass destruction. And we're all in great dying.
Every time we the citizens of the world do allow the Governments to get us into debt at interest, and every time we permit the bankers to take over our wealth and people’s money as we see billions/trillions/quadrillions for the bankers and debts and interest and infinite miseries for the peoples, we then sell ourselves and souls into total debt and usury slavery to the bankers for a bowl of already consumed pottage.
Islamic Teachins Against Usury:
"Those who devour usury will not stand except as stands one whom the devil by his touch has driven to madness. That is because they say: Trade is like usury: but Allah has permitted trade and forbidden usury.... Allah will deprive usury of all blessing, but will give increase for deeds of charity, for He loves not any ungrateful sinner.... O you who believe, fear Allah and give up what remains of your demand for usury, if you are indeed believers. If you do it not, take notice of war from Allah and His messenger, but if you repent you shall have your capital sums; deal not unjustly, and you shall not be dealt with unjustly. And if the debtor is in difficulty, grant him time tin it is easy for him to repay. But if you remit it by way of charity, that is best for you if you only knew." [Surah al Baqarah, verse 275-280].
Catholic Doctrinal Discourse on usury and its nature and its contention:
Most interestingly, it appears that there has never been any actual, definitive shift in Magisterial teaching on this topic. That is because the last authoritative Magisterial statement on the subject (as far as I've been able to find) occured in 1745. It is the encyclical Vix Pervenit of Pope Benedict XIV. It is the most recent statement of the Magisterium on usury and it seems to explode most of the current apologetic arguments regarding the nature of that teaching. It states:
I. The nature of the sin called usury has its proper place and origin in a loan contract. This financial contract between consenting parties demands, by its very nature, that one return to another only as much as he has received. The sin rests on the fact that sometimes the creditor desires more than he has given. Therefore he contends some gain is owed him beyond that which he loaned, butany gain which exceeds the amount he gave is illicit and usurious.
II. One cannot condone the sin of usury by arguing that the gain is not great or excessive, but rather moderate or small; neither can it be condoned by arguing that the borrower is rich; nor even by arguing that the money borrowed is not left idle, but is spent usefully, either to increase one's fortune, to purchase new estates, or to engage in business transactions. The law governing loans consists necessarily in the equality of what is given and returned; once the equality has been established, whoever demands more than that violates the terms of the loan.
So much for arguments that the Magisterium now teaches usury only means "exhorbitant" interest or interest on non-profitable loans (which still wouldn't allow for most credit card usage, by the way). Vix Pervenit, the most recent teaching specifically addresses and condemns both those arguments, as well as arguments to the effect that "times have changed and the nature of the money/the economy is different now." Rather, it states:
We exhort you not to listen to those who say that today the issue of usury is present in name only, since gain is almost always obtained from money given to another....it is clearly invalid to suggest, on the grounds that some gain is usually received from money lent out, that the issue of usury is irrelevant in our times.
Other major reasons why I am against interest or usury?
1. I don't think charging ANY interest to any loan is right both ethically, morally and economically. All loans should be COMPLETELY INTEREST-FREE but with reasonable service fee. It is interest and usury that makes the whole global economy collapses as one of the lethal weapons of the debt-based banking system money creation.
2. To make money, THE LENDER SHOULD CHARGE ONLY FOR WORK DONE, by the hour, in one-minute increments, with a minimum charge equal to, say, 10 minutes of work; plus any other expenses like bank fees of fees or service fee for the transfer of money. Let say if I will lend P1,000 Pesos, I will charge only fee of P10 Pesos per week.
3. To prevent any losses accruing to the lender due to inflation, all loans should be PEGGED TO THE OFFICIAL CONSUMER PRICE INDEX to be determined and figured out so far. So if prices go up by, say, 2% during a year, the loan repayment amount during that same year should also go up by 2%. Let say if the loan of P1,000 Pesos of 2012 might be paid at P1,120 Pesos by 2013 due to accrued P10 pesos per week assuming that the loan would extend in a year period in some cases. Is this right?
4. All loans should be FULLY SECURED against tangible assets such as any of material value available at hand to the borrower(s) which should be worth much MORE than the loan amount. That way there can be no losses due to default. This is so called collateralization or a guaranteed loan, let say a piece of land or appliances, gadgets, or animals, etc. something that loan will be secured.
4. If there are unsecured loans as an option, they should be INSURED AGAINST DEFAULT - the borrower should pay an insurance premium, let say P100 Pesos, which can be agreed up between lender and borrower at the time of making the loan so that there should be NO losses due to default. Losses are terrible and any capital cannot just be recovered over time.
5. Profit-sharing (and therefore also loss-sharing like Islamic Muslim arrangements) arrangements MAY be agreed upon by lender and borrower after due discussions. However, the borrower should prove to the lender that the proposed enterprise WILL MAKE A PROFIT, given the normal circumstances (i.e., barring any unforeseen circumstances). And this is the very crux of the matter for lending money without interest or usury.
6. Also as an option, there is an even better idea, to wit, a barter system that incorporates credit, but this will take a bit of time in the future. Barter system is good but at times delicate and complicated at this point in time in the Philippine marketplaces.
Target customers/borrowers of usury-free loan scheme with service fee charge and collateral security requirements to these business and economic activities in the Philippines.
1. Organic farming/gardening/planting.
2. Food making/cooking.
3. Animal raising: pigs, chicken, duck, goats, carabao, horse, etc.
4. Coconut copra making, that is coconut fruit cooking for oil making, etc.
5. Sewing clothes, rugs, upholstery, etc.
6. Herbal making and promoting as alternative medicines.
7. Soap making and promoting.
8. Food and Nutritional products peddling/selling.
9/ Fruit selling.
10.Fishing activities.
11. Dried Fish peddling or selling/promoting.
12. Meat peddling and selling and preserving.
Eric V. Encina
Filipino Social Credit/Monetary Reform/Economic/Monetary Justice Campaigner
Philippines
eric_encina@yahoo.com
eric.encina8@gmail.com
TRILLIONS FOR THE BANKERS AS BANKING ARITHMETIC OF SCAM AND MASS DESTRUCTION, DEBTS FOR THE PEOPLE!
US$53 TRILLION American Total Debt: US$2.5 Billion Daily Borrowing in excess To Pay for Interest Scam!
AMERICAN ECONOMY IS BEING DELIBERATELY DESTROYED FROM WITHIN by the debt-based fractional reserve money system.
IN THIS MODERN CIVILIZATION OF GREED AND AVARICE, THERE'S A SUCKER-BANKER BORN EVERY MINUTE!
The debt money is not mathematics but a voodoo hocus-pocus abra kadabra manipulation of numbers for controlling money, food, wealth and resources of the planet and ultimately controlling human life mainly targeting the innocents.
"American has become more a debt "junkie"-than ever before with the total debt of US$53 TRILLION - and the highest debt ratio in history. That's US$175,154 per man, woman and child - or US$700,616 per family of 4, US$33, 781 more debt per family than last year.
I THINK WE CANNOT SURVIVE ANYMORE FROM THE ENDLESS AFTERMATH OF DEBT FINANCE DISASTER CAPITALISM?
http://www.youtube.com/user/Darealbruce#p/a/f/1/1gKX9TWRyfs
http://www.usdebtclock.org/about.html
http://www.usdebtclock.org/index.html
http://www.usdebtclock.org/money-history/money-timeline1100-1791.html
Let us see the facts: "Facts are chiels that winna ding. An' downa be disputed". - Robert Burns
The US Government and many nations are Dead Broke, insolvent, not because of US citizens, not because of the denizens of nations, but because TRILLIONS upon trillions have been munificently spoiled out, wantonly wasted out, and doled out FOR THE cuckoo-BANKERS while their bankster policies leech off the blood of skinning alive citizenry, while more skyrocketing and endless streams and horrendous figures of DEBTS and usury interest imperialism and holocaust are built over the sinking nations of the mother earth.
Debt Finance /Borrowings/Lending: Hundreds of millions to billions of people across the planet are hog-tied, chained, shackled and enslaved by debt finance irrespective whether they are the lenders or the borrowers. The very fact that money is created as a debt by the banking system through the scam of fractional reserve banking, and criminally ~ out of nothing, in a ponzi scheme, is a prima facie evidence of addiction of the money lenders, money creators and money controllers. All nations, continents, communities, and inhabitants are under the savage cruelty of the cobweb of debts. And in view of the gravity of the debt problems, it appears that both the lenders and the borrowers are addictive to the money and wealth. Government is debt-addict and most government officials, politicians and their political parties are addicted to money down to being poisoned by money. Corporations and all various institutions are also debt-addict through massive expansion of wealth, or profit-oriented-money addict just as their incorporators, investors and workers and members are addicted to money and wealth.
The money being lent on usury or at interest that is presently beyond logical and morality by the money lenders, and the inevitable willingness of the borrowers are inter-twining manifestation or indication of money addiction. It is said that nothing is more shameful than usury. But likewise nothing is also shameful than to borrow money at usury. Both the lender and the borrower are debt-money-addict. And this borrowing-lending at usury is perpetuated by the system of debt finance that mainly causes money addiction. It is not a figment of imagination when we think billions, to hundreds of billions to trillions of money are paid as interest to the system of debt finance. In USA alone, the interest payments are mentally-defying and mind-boggling.
What about the total interest payments of ALL CONTINENTS, NATIONS, COMMUNITIES, FAMILIES AND INDIVIDUALS in the world? All wealth is now sucked out and siphoned off by debt and usury.
The earth is now sinking down into the dungeon, not because of over-population, but because of gravity (the law of gravity – let’s us Albeit Einstein or Isaac Newton, of the creation of debts and over-collection of interests, of taxes and over-avariciousness of those leechers, suckers, vultures, cuckoos and siphoners of their debt-finance disaster-capitalism with all dreadful disasters ever imagined coming after.
Mammon's Debt finance is the major culprit that has already reached to Full Spectrum Dominance in the world today chaining and enslaving billions of people across the planet that is life-soul-destroying. Revolutionary distribution of wealth through new science of economics and monetary reform to the poor under God's commands, has become impossible under the present system.
Because of Mammon's influences, most peoples in great difficulties in monotonous situations of poverty are pressurized to giving in to pragmatic and practical compromise particularly beggarism, pauperism and mendicancy as the last option or recourse even it is inimical to their dignity and morality. Otherwise, if not, body or soul can be sold to obtain money for survival, not for the sake of money itself, per se.
The Mammon's offshoots - the IMF and WB even they know their heinous economic crimes against humanity by the subtle and perpetual control of money artificially and adroitly WILL NEVER SAY “sorry” and will never make any reparatory measures nor pay any moral and economic messages they have inflicted upon the third world inhabitants.
We’re all bamboozled by the bankers everyday, with their adroit way of robbing the money that belongs to the people. The bankers arrogate themselves of the power of the People’s Credit. Now, we’re shackled with chains of horrendous debt with skyrocketing interest payments. There is no end of miseries and sufferings in the 21st century under the present pestiferous system.
Debt Money Usurious System is the real frightful monster, not debt-free money creation. Money supply is not actually finite as it could always be increased on demand by the facility of the central bank through Government’s legislation as debt-free, not debt-based.
If all peoples across the planet will have sincere unity and will agree on MONETARY REFORM DEBT-FREE MONEY SCHEME -PROPOSAL TO EACH AND EVERY LEGITIMATE GOVERNMENT in the world, then we can iron out century old problems of money, debt, interest, poverty and hunger all over the world. The Futility Of Not Creating Debt Free Currency
Billions of people across the planet have been contaminated by the vermin of the satanic banking system of greedy, avarice and ultimate selfishness, that mostly are evil-devil-hearted beyond conversion.
Debt Money System is a Plague of all Centuries. Its very operation-scheme is a banker’s arithmetic of endless and multiplier scam, racketeering and wanton destruction. If not devil’s obsessed or possessed, bankers are devil-incarnate.
he very creation of money as a “debt” out of nothing, “ex nihilo” BASED ON PEOPLE’S WEALTH, as a liability and “imposed burden” upon the nation and the dispossessed inhabitants is now a crystallized satanic in nature.
Most Western, Eastern, Northern, Southern American nations EU, Asian, Middle East and African nations, literally all nations on earth with very few exceptions are all “slaves of in chained-of debts and skyrocketing interest payments” with endless domino extremely ill-effects and virtually in the satanic “WEB OF DEBT” adroitly manipulated by the monstrous banking system absolutely without any conscience of humanity.
The earth is now plagued down by all monsters, cuckoos, leeches, parasites, vultures, alligators, dinosaurs of all diabolic kinds in the spheres of finance, economics, politics, communications, even in the areas of education, religions and culture through “evil inculturation” or imperialism or civilization of evils where life and souls are now leading to death.
We’re now in “complete disarray”, and almost comatosed, plagued down and totally hijacked by the anti-christs everywhere. No more safe place that even outer space is already at the hands of evil ones.
A HUGE PROPORTION OF THE MONEY CREATED OUT OF NOTHING "ex nihilo" - a downright filthy fraud, and manufactured by the rogue bankers and financiers representing no real savings being loaned at interest to Governments and individuals in times of natural calamities would certainly cause another bouts of inflationary pressures and devaluation of currencies - another disaster capitalism.
MR. TURMEL, I FORMALLY REQUEST YOU TO EMAIL ME TO eric_encina@yahoo.com or eric.encina8@gmail.com. The email address I have here of you is not working. Thanks.
I AM ASKING FORMALLY MR. TURMELL TO RESPOND TO ME DIRECTLY AND I WOULD LIKE HIM TO SUBSTANTIATE HIS COMMENTS. IN VIEW OF MY OWN TERRIBLE DIFFICULTIES, I AM EMBITTERED BY HIS COMMENTS. SORRY.
Jct: Back a few years, I responded to your plea for funds. Though I had no funds to offer, I suggested you start your own timebank. I never said it had to be a high-tech computerized online timebank, I've always also mentioned the low-tech paper timebank. So you haven't started up your own paper timebank and are still looking for funds.
Anonymous has left a new comment on the post "Shifting The Economics Of Poverty":
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Jct: I get dozens of these messages from anonymous every day. Is there any way you can find out who it is and have him killed? I pray for his bad luck every night. Hope he's getting it. Hope he meets a bus with his name on it.
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