Sunday, October 25, 2015

Watch Iceland. End the debt!

Since 2008 the monetary reform issue has been brewing well in Iceland.

"In theory, banks are only supposed to lend out 9 times the amount of cash they actually have in reserve. Yes, they get to counterfeit 900% of the money they actually have and charge us interest on it. That's outrageous. This is the very definition of the word 'usury'. Fractional reserve banking is practiced worldwide now. Over 90% of all new money in every nation on earth now is created by banks in the loan-making process."

"This debt-money system is nothing but legalized counterfeiting of national money. It is worldwide in scale. It is slowly breaking the backs of the economies of every nation and will eventually lead to an even larger worldwide banking system collapse."

"Many Americans, in the wake of Ron Paul's influence, believe that ending the Federal Reserve system is the answer. It's not. Yes, the Fed tries to control the quantity of money in the American system. But who are they really trying to control? The banks. Especially the biggest banks. The banks are in total and complete control of how much money there is, because they create all of it, except coins and paper money which is less than 10% of the money supply in America."

"Gold-backing would make zero difference."

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