- Canadians' personal debt is rising. The ratio of household debt-to-disposable income reached the highest on record in the third quarter (2010) -- 148.1 per cent!
Did you hear?
- Student loans close to $15 billion. Government expected that to occur in 2014-15.
Did you hear?
- Prime Minister Stephen Harper said that the government is concerned about Canadians' personal debt levels, warning they could get hurt when interest rates eventually increase. He also said, "This is a matter that is of concern to the government. We continue to warn Canadian households that interest rates are unlikely to go down in the future. Obviously, we encourage Canadians to manage their affairs soundly." He also indicated that because you Canadians aren't doing a very good job controlling your purchasing the government may have to make it harder for you to get loans. See, I told you so. You children still need Papa Harper and Uncle Flaherty to look after you. Don't worry. Its not just you. You, me and most of the world have lost our sovereignty. The servants are in control of the castle and they don't want to give it back.
The following figures were taken from, http://buttonwood.economist.com/content/gdc, at 11:13pm, December 13, 2010.
Did you hear?
- Canada's total public debt stands at $1,265,669,863,014.00.
- Canada's public debt per capita is $37,230.34.
- Canada's public debt % of GDP is 82.3%
The total global public debt stands at $40,822,562,948,243, (a Conservative figure). [And it's rising at a rate of $4,520,401 per minute, that's $271,224,060 per hour or $6.5 billion per day.] This means Canadians owe 3.1% of the total global debt. Not bad for a country that makes up 0.4% of the Global population. But that's good compared to Japan and the US. Between them they owe $20,071,090,136,896! That's 49.1% of the total global debt between two countries that make up only 6.3% of the total global population.
Usury = Debt
So where did all that debt come from? Usury.
Don't think so? Okay, do this, picture yourself a central bank in control of a country's money. You print the only money that will ever be used within that country. In the beginning there is no money circulating so people must borrow your money to start trade and commerce. With your borrowed money the economy starts to function. Let's assume that citizens, small businesses, corporations and governments of your country borrow $500 million at 5% interest. Note that the country had no money before the $500 million was borrowed and the $500 million was borrowed at 5% interest. This means that the original loan of $500 million plus $25 million interest must be repaid. As there is only the original 500 million circulating within the economy where will the people get the $25 million to cover the interest to fulfill their obligation to you?
I hear some of the business leaders out there saying, "Well, the people could mine ore, make iron, steal and copper; they would grow grains and vegetables; they'll cut trees and make lumber and manufacture other products in such abundance that they would be able to sell the excess to other countries. By doing this they could earned more than the amount owed to the central bank and would be able to repay the original 500 million loan and the 25 million interest. Not only that but they could become rich from the excess profits."
To that I say, that sounds wonderful, but have you considered where these other countries got the money that was used to pay for the products they purchased from your country? They too have borrowed all the money they have from a central bank at 5% interest. Actually, every country in the world has borrowed every dollar that circulates within their economy at interest from a central bank.
Now the countries that would purchase the products produced by your country would reduced their money supply by the amount used to purchase the said products. This set up a situation were these countries would not have enough to repay the total amount of their loans never mind the interest owed on these loans.
To this you may say that these countries would do the same as your country. They would manufacture products and market these to other countries to earn the necessary funds to repay loans and interest.
To this I must now say, impossible. Look at it this way, Let's assume that there are one hundred countries in the world and they have all borrowed $500 million to kick start their economy, That would mean that the total amount of money circulating in the world would be $50 trillion. The interest owed on the $50 trillion would be $2.5 trillion for a total amount owed back to the central bank of 52.5 trillion dollars. Notice that no matter how much trade and commerce is carried on with the available 50 trillion dollars no new money is created. The only thing that happens is that the borrowed funds just get transferred from bank accounts in one country to bank accounts in another. When it came time to pay the loans there would still only be 50 trillion dollars in circulation; only enough to repay the original loan but not enough to cover the $2.5 trillion in interest charges. Some countries like yours may have enough to pay their loan plus interest but others would be short of funds and would have to carry a debt.
Central banks that lend money at interest rely on the citizens of the world to miss this important point. The existing money supply can never increase unless and until more money is borrowed. The widely accepted false perception is that money is somehow "made" by the labour of the people and the activity of industry, trade and commerce. Study this scenario well and it will eventually become clear that because every dollar within the world's economies is a borrowed dollar, the money supply can only increase if more money is borrowed. Usury on all these borrowed dollars demands that more dollars be repaid than will ever exist. Thus an ever increasing cycle of borrowing to cover the interest thereby creating more interest charges; borrowing to cover these new interest charges thereby creating more interest charges steadily and surely increases the total debt owed throughout the world. Once the first dollar is borrowed from a central bank at interest this cycle is unavoidable and an ever increasing debt due to un-payable interest charges is guaranteed.
Here is a simple formula to illustrate that fact. I call it the formula for debt.
P - (P + I) = D
Principal minus (Principle plus Interest) equal Debt.
All money circulating throughout the world has been borrowed, therefore all money is the Principal associated with central bank loans. As only the Principal exists Principle plus Interest can never be paid in full. The shortfall or the Debt will always equal the amount of the interest charged.
Debt = Death
So with an honest look at usury we can see it must end with an ever increasing un-payable debt. But how, you may ask, does this debt end in death? For that answer we don't have to look far.
Just look around the world and find the countries where poverty is rampant. You will see that these countries have few natural resources to sell; at least none that the rest of the world wants or which it doesn’t already have. These are countries that are so far in debt that most their money goes to service their debt with little left over even to produce food to feed the people. With poverty comes civil unrest and war which makes it difficult, if not impossible for farmer to safely grow food. With little food to feed the population hunger become prevalent. After prolonged periods of hunger and malnutrition the people become so weakened that even the effort of looking for food becomes to exhaustive. Soon starvation becomes widespread and as the rest of the world looks on children start dieing from starvation.
It’s estimated that in this world one child starves to death every two to three seconds. That works out to be about 1,500 children an hour, 36,000 children per day and over 13 million children a year. Virtually every one of these deaths is due to debt; a debt that can never be paid because more money is needed to pay the debt than there is money in existence. These children die because a world is stuck in a rut. A rut that says, “Just work hard and contribute to the economy. Work hard and create an abundant life for yourself and your family. Work hard, earn money and enjoy your life. You deserve it.”
I would never say some one’s hard work should not result in an abundant life. I would say that under the present economic system it’s not possible for all to share in that abundance. At first only a few suffered. But that is not the case today. What will it take for you to take the time to understand what a few people have been saying for so long. Usury of any kind guarantees a global debt. Global debt guarantees the starvation death of over 13 million children a year.
I tell you this. Until the people of this world wake up to the fact that their blind participation in an unjust system of usury is causing these problems, the number of unemployed, homeless, hungry and dieing will continue to rise. Please take the time to learn the truth of the consequences of your action. So many children are depending on you.
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Comments to the author are welcomed. david.ealing@gmail.com
