by Michael Smith (Veshengro)
The global debt, that is the "money" owed by all countries, is currently at over US$230 trillion – please don't ask me no many zeros come after the 230, I have no idea – but the question we should ask is "who do those countries, including our own, owe this money to?"
Investment banks and such, you say. Really? Consider that the money that was lent – and is being lent – is not “real” money at all but has been created out of thin air. Same as with any loan that a bank gives. The money that is being transferred from the back into your account does not, actually, exist as "real" money, neither in paper nor in coin, nor in gold or silver. It is being created out of nothing. This is not even anymore the so-called fractional reserve banking; there are no reserves here at all. However, as collateral they demand real value, namely property, and if you do not keep up your repayments and the interest payments the banks will come after that collateral on which you “secured” the loan.
More interesting is also that, to all intents and purposes, the global debt can never be repaid.
If, for example, a world government, which we do not have but just imagine it, would try to pay this money back at the rate of US$1 (one dollar) per second it would take, according to some sources, 63,000 years to pay back; let me put that in words: sixty-three thousand years...
I just leave you with these thoughts for a moment... (Remember once again that no money lent ever existed)...
Now that you have, or have not, whichever the case may be, from the shock of the fact that this debt that all the countries of the world – and we are here only talking about “national debt” and not about the debt that individuals “owe” to banks in the form of mortgages and other loans – simply cannot, in reality, ever be repaid.
But then, as I said before, what is this debt actually? The so-called money never actually existed in the real world and was backed only by the assets of fresh, or not so fresh, whichever the case may be, air then we must but conclude that this so-called debt just cannot exist as the money never existed.
The entire monetary system, regardless whether it is paper money backed by nothing or backed by so-called “real” assets in the form of gold and silver (and I have put the word real in inverted commas for a good reason for also gold and silver have only the monetary value that we give them; they are not valuable at all except for use in electronics), is just based on an illusion. None of it is real wealth.
What has value is food, for we must eat, and water, for we must drink, and then the other resources from which to produce things to make our lives easier, whether shelter, clothing, or other products. We cannot eat paper money nor can we eat gold, silver or diamonds. Thus they actually have no value but the imaginary one that we place upon them by way of conditioning to believe that they represent a value.
The only thing other than the ones above, and upon this resource all our actions should be based, is time. The day, the hour, the half hour, and and hour of milking a cow should be valued as much as an hour of writing an essay, and article or a book. An hour mowing the lawn is equal to an hour of mending a bicycle. Every one's work is equally valued when we consider the hour as the rate of exchange. In the production of goods, or even in service tasks it may be necessary to add to this, in way of additional time segments, any fuel for a mower, or any materials, etc., but aside from those an hour of one kind of work must be exchangeable for an hour of another kind. But that, really, is the matter for another article and I digressed somewhat.
We need a completely new system as to what is wealth and must get entirely rid off this monetary and banking system that is around today.
P.S. OK, after having checked this as to the zero behind the 230 the figure would look like this 230,000,000,000,000,000,000 (that is 18 zeros behind the 230).