It is pretty amazing… i still remember the times when “the state” has debt of 10.000 Deutschmark per Capita… and i thought “What the f****? What did they do with that money? And why should i pay for debt that others created for me?”
There is a “pakt” between “private” (?) completely undemocratic Banks like FED and ECB and the state their currency “belongs to” or “controls” – in order to avoid inflation (because private “experts” are believed to be better at that) – the money-creation monopoly was to 90% shifted to private institutions – but they need to guarantee that the state financially never fails.
The ECB and FED seem to have forgotten about their part of the deal.
State deficit explodes – despite almost 0% interest. Isn’t that a contradiction?
So why is the debt there?
If you could take a new loan to pay all the old loans… with an almost 0% interest?
Money should be there to allow people’s dreams to be realized.
Of course the “dream” should somehow make sense and allow people to live a healthier, more sustainable and self-sufficient life – but actually banks do not like to fund such projects.
It should be a responsible – ecological – socially just dream that you want to realize not like “i want to buy 100000000x donuts” – and then what? Ship them to Africa? That would be actually interesting 😀
The “elite” only cares about their own dreams of more and more power – (everybodys nightmare by the way) of complete rule of the planet – world-domination and world-exploitation and world-enslavement – without any limits – regardless the social and environmental costs.
“It was created on December 23, 1913, with the enactment of the Federal Reserve Act in response to a series of financial panics (particularly the panic of 1907) that showed the need for central control of the monetary system if crises are to be avoided.[list 1] Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s led to the expansion of the roles and responsibilities of the Federal Reserve System.”
“The data also suggest that many of the rescue efforts organized by J.P. Morgan may have been motivated by self-interest.”
Source: Harvard: Financial-Crisis-1907-Federal-Reserve-Act-JP-Morgan-Carola-Paper.pdf
|% of GDP|
|1||United States||19,643,000,000,000||31 March 2016||60,340||114|
|2||United Kingdom||9,591,672,000,000||31 March 2014||146,244||569|
|3||France||5,750,152,000,000||31 March 2014||86,317||222|
|4||Germany||5,546,869,000,000||31 March 2014||68,720||145|
|5||Luxembourg[note 1]||3,472,282,000,000||31 March 2014||3,696,467||3,443|
|6||Japan||2,861,488,000,000||31 March 2014||24,000||60|
|7||Italy||2,651,413,000,000||31 March 2014 est.||43,621||124|
|8||Netherlands||2,526,895,000,000||31 March 2014||226,503||316|
|9||Spain||2,305,648,000,000||31 March 2014||52,045||167|
|10||Singapore||1,766,401,000,000||13 November 2015||226,930||408|
|11||China||1,680,000,000,000||30 June 2015||1,195||16.2|
|12||Switzerland||1,610,897,000,000||31 March 2014||193,939||229|
|13||Canada||1,491,000,000,000||4 May 2016 est.||37,165||92|
|14||Australia||1,395,638,000,000||31 March 2014 est.||52,596||95|
|15||Belgium||1,286,918,000,000||31 March 2014||113,603||266|
|16||Hong Kong||1,231,233,000,000||31 March 2014 est.||105,420||334|
|17||Sweden||145,154,804,082||30 September 2016||145,585||34|
|18||Austria||820,010,000,000||31 March 2014||90,128||200|
|19||Norway||61,455,264||30 June 2016||12||0.02|
|20||Russian Federation||599,819,000,000||31 March 2014||3,634||23|
|21||Denmark||593,221,000,000||31 March 2014||101,084||180|
|22||Portugal||548,800,000,000||30 June 2011||47,835||223|
|23||India||485,600,000,000||2 July 2016 ||46||6|
|24||Brazil||428,300,000,000||31 December 2012 est.||1,608||15|
|25||South Korea||425,353,000,000||31 March 2014 est.||7,567||37|
|27||Greece||360,000,000,000||30 June 2015||47,636||174|
|28||Mexico||352,900,000,000||31 December 2012 est.||1,956||20|
|29||Indonesia||324,203,000,000||31 July 2016 est. ||1,250||36.77|
|30||Ireland||263,967,288,631||30 September 2014||52,227||103|
|31||Malaysia||230,870,491,803||15 March 2015||7,829.11||63.7|
|33||Hungary||202,000,000,000||31 December 2012 est.||14,821||115|