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Powerful speech in European Parliament about Fractional Reserve Banking and how the Central Banks are a Scam.


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I remember a James Michener book stating that the Spanish, although they had a head start, never made much success with their colonizing and the reason was their banking system (or lack of). A thoroughly Catholic nation, they held that usury (the illegal act or practice of lending money at unusually high rates of interest) was wrong, which all but made serious investment impossible—the rich king or queen had to sponsor everything and she did so only to plunder lands and add to his or her wealth)

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I remember a James Michener book stating that the Spanish, although they had a head start, never made much success with their colonizing and the reason was their banking system (or lack of). A thoroughly Catholic nation, they held that usury (the illegal act or practice of lending money at unusually high rates of interest) was wrong, which all but made serious investment impossible—the rich king or queen had to sponsor everything and she did so only to plunder lands and add to his or her wealth)

Protestantism changed everything. Lending on interest, even high interest, became a virtue and the underpinning for colonization from England, France, Netherlands, others.

This is not the same as your topic, of course, but it’s the best I can come up with at the moment, and in a vague sense of how banking systems work, it fits. Your clip is more on the lines of the book, ‘The Creature From Jekyll Island.’ Have you read it?

A good topic of discussion. The imposing Greek & Roman architecture of the large banks, meant to convey stability and strength, is illusory. It can all come crashing down, and used to routinely when there would be a ‘run on the bank’—people all wanted their money for some reason of crisis, only to find that the bank did not have it because they had leant it out.

Central banks were devised to supervise and prevent such disasters, but it comes at the societal cost of inflation for all. That’s why a cartoon I love has some old-timer grumbling how “for the price of a postage stamp today, I used to be able to buy a whole damn Cadillac!”

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