[GJM] debt/compound interest system,wasting unimaginable amounts of energy; not to,mention people's lives...PLEASE ADVISE ME???

[Dan Parker]

There are several books that contain analyses of 
this issue.

One of many is at

http://userpage.fu-berlin.de/~roehrigw/kennedy/english/

Dan

  ----- Original Message ----- 
  From: EcoTort 
  To: Discussion Forum for Global Justice 
  Sent: Tuesday, July 24, 2007 4:02 PM
  Subject: [GJM] debt/compound interest system,wasting unimaginable amounts of energy; not to,mention people's lives...PLEASE ADVISE ME???


  is this correct, or am I completely deluded?
  please would the GJM forum correct my ignorance on this matter...

  cheers (+:




  roughly :-
  1)one third of a person's wages goes to pay the mortgage,
  2)one third is tax, 
  3)and the remaining third you get to spend...


  1)if you borrow, say £100,000
  over 40 years as a mortgage 
  to buy a house, 
  you pay back roughly £400,000....

  this means that
  roughly two thirds 
  of the third of your wages 
  which is paying the mortgage 
  is paying interest on that loan.


  2)the bank of engalnd is a private company 
  the government granted the bank of engalnd a license to print money 
  the government borrows money from the bank of england, 
  the government pays interest on that loan.
  that interest is paid out of the third of your wages which is paying tax to the government.


  3)if you buy (for example) a china cup in a shop:-

  a)someone has borrowed money from the bank
  to set up a quarry 
  to extract the china clay 
  from the earth:
  they are paying interest to the bank on that loan 

  b)someone has borrowed money from the bank
  to buy a lorry 
  to transport the china clay 
  to the factory 
  which makes the cups:
  they are paying interest to the bank on that loan 

  c)someone has borrowed money from the bank
  to set up the factory 
  which makes the cups:
  they are paying interest to the bank on that loan 

  d)someone has borrowed money from the bank
  to buy a lorry 
  to transport the cups to the wholesaler:
  they are paying interest to the bank on that loan 

  e)someone has borrowed money from the bank
  to set up the wholesale business:
  they are paying interest to the bank on that loan 

  f)someone has borrowed money from the bank
  to buy a lorry 
  to transport the cups to the retailer:
  they are paying interest to the bank on that loan 

  g)someone has borrowed money from the bank
  to set up the retail business:
  they are paying interest to the bank on that loan 

  h)all of those people from a) to g) above...
  are paying  interest to the bank on their mortgages.

  all these interest payments to the bank
  are coming out 
  of the purchase price 
  of the china cup....

  if we add all these interest payments together
  we find 
  that 
  on average
  conservatively speaking
  50% of the price 
  of ANY item we buy
  is due to interest 
  being paid to the bank.

  HENCE:
  1)one third of a person's wages goes to pay the mortgage 
  (ABOUT 75% OF YOUR MORTGAGE THIRD IS PAYING INTEREST TO THE BANK)
  2)one third is tax 
  (SOMEWHERE BETWEEN 10-20% OF YOUR TAX THIRD IS PAYING INTEREST TO THE BANKS)
  3)and the remaining third you get to spend...
  (ON AVERAGE, ROUGHLY 50% OF THE PRICE OF ANY MONEY YOU SPEND FROM YOUR SPENDING THIRD IS PAYING INTEREST TO THE BANKS)

  ADDING 1), 2), AND 3) TOGETHER:
  WE FIND THAT WELL OVER HALF OF EVERYONE'S WAGES IS PAYING INTEREST TO THE BANKS, ON LOANS OF 'VIRTUAL MONEY' WHICH DOES NOT REALLY EXIST...







  Dan Parker wrote: 
    Agreed Rodney; and in the meantime there is lots to do
    in regards to our debt/compound interest system 
    wasting unimaginable amounts of energy; not to 
    mention people's lives.






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