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

[EcoTort]

Many thanks Dan, I had a quick look and it looks good, will look further 
when I get time after eviction of my theatre....


cheers from  Nick (+:


Dan Parker wrote:
> There are several books that contain analyses of
> this issue.
>  
> One of many is at
>  
> http://userpage.fu-berlin.de/~roehrigw/kennedy/english/ 
> <http://userpage.fu-berlin.de/%7Eroehrigw/kennedy/english/>
>  
> Dan
>  
>
>     ----- Original Message -----
>     *From:* EcoTort <mailto:ecotort at gn.apc.org>
>     *To:* Discussion Forum for Global Justice
>     <mailto:discussion at globaljusticemovement.net>
>     *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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