MONEY: The 12th and Final Religion

Monday, November 09, 2015


It has been said 100 years ago that a debt based, income tax suported money system will last about a century. Then it will become impossible. Now that a century of national debt has passed, impossibility should be at hand. What would an impossible money system look like? How should we cope? My advisor and deep trance medium, in a past life the first woman Jesuit at the 1555 Vatican, says not to worry. Life will go on, but money interest is now impossible. "That is what Dr. Soddy meant when he said the system will last a century, then become impossible, she whispers.

The idea of money interest becoming impossible is too impossible for those of us trained in the arcane digits of MBA academia. How could the global system work without the magic of money growing merely with the passing of earth time. We all know that money can grow merely with elapsed earth time. No need for earth, water, air or sunlight. It has always been an accepted magic. Every body believes it. A bank creates $100 dollars by means of giving a loan which appears as a deposit in your checking account. Somehow you are supposed to find aditional money to pay the interest. It has always been an accepted magic just like religion. Walk on water raise the dead, stop the sun, water from a rock, interest from money, it is all the same magic, says Loco Lola.

Enough of Loco. I press the good Prof C More Books. He is wise and all knowing on everything. He says the concept of money interest on a national debt has expired, just like the god Mithra fizzeled away at the end of the Roman.  empire. Eventually money interest like all previous religions becomes conceptually and practically obsolete. Too much absurdity to capture the mind of subsequent generation.

As a practical matter the money spinners self destructed with the 2008 mortgage swindle. The existence of fake mortgage and credit card loans was impossible to be paid according to the accepted market conventions. The legitimizing of this fake swindle by allowing the central banks to acquire this fakery at its full fake price has now loaded central banks with trillions of dollars. At zero interest rates, there is no cost. If interest rates go up to say 6%, it would be impossible for the national treasury to collect enough taxes to pay the interest on the fake loans stashed at the central bank without impoverishing all the people. In fact the system has become impossible.

This means that the legend of investing at interest for retirement is a fiction. The entire financial mechanism is on the cusp of auto destruct if the belief persists that money can pay interest. The era of Money as the global religion has dawned and passed concealed in the thunder and wonder of wars far and wide. The Prof says read; MONEY The 12th and FINAL RELIGION and THE AMERICAN CALIPHATE of BIZWOG.