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Love of Money

- "Progress" -

28/3/2005 

Keep your lives free from the love of money, and be content with what you have; for He has said, "I will never leave you or forsake you.   [Heb 13:5] 

For the love of money is a root of all kinds of evil, and in their eagerness to be rich some have wandered away from the faith and pierced themselves with many pains. [1 Tim 6:10] 

“Money opens all doors”, the saying goes. With money you make the ‘impossible’ possible – just like in politics. But that is another topic for another time. 

I have always been puzzled by money but, like most ordinary folks in this world, I never understood what money is, and how banks create it. I only knew how to spend it.  

However, the focus of this writing is not to explain in details how the banks create money or what they do with it. I have already written on that angle [see: “Government and the central bank system” – part one and two] as have many other writers. 

I want to write about the illusion that money [itself created out of nothing] can create on people’s mind.  

For many years now in our materialistic society “progress” has been accepted by most people as the new sacred-cow. Progress means development, growth, advancement, step forward, movement, evolution, and so on. 

It is common knowledge that no country in the world better epitomizes progress than America. Yet, the irony is that America, apart from the present quagmire she is in with the war in Iraq, and her $7 trillion dollar debt, she is in such deep economical trouble, that not only will she never be able to pay her debt completely, but she never recover from imminent disaster[1] at all levels. 

Not only America, but also England, Japan, the Netherlands and Israel are even more deeply in debt. Why? 

The following article below might shed some light on it.  

Internal debt[2] - Britain of Japan

Mon 21 Mar 2005 from: rainesco@earthlink.net

Britain is the fourth-most indebted country in the world, with higher aggregate borrowings than Argentina, which had to undergo a debt refinancing, and the US, where the budget deficit has been dragging the dollar down to historic lows.

According to a study by economists at ING, the Dutch bank, if you take into account borrowing by companies and individuals as well as government debt, the UK is borrowing nearly twice its annual GDP.

Only Japan, the Netherlands and Israel are more deeply in debt. The US, by comparison, has total borrowings of around 125 per cent of GDP while Argentina, which caused a world crisis when it said it could not pay its debts in 2002, has only borrowed 70 per cent of its annual GDP.

http://news.independent.co.uk/business/news/story.jsp?story=621785 ====

Standard & Poor's, the credit ratings agency, says if fiscal trends prevail, the cost of ageing populations will fuel downgrades of France, the US, Germany and the UK from investment grade to speculative, or junk, category France by the early 2020s, the US and Germany before 2030 and the UK before 2035.
 

The debt ratios of these countries are set to reach levels not seen since the second world war, S&P says.

[...] the general government debt ratios of France, Germany and the US will surpass 200 per cent.

S&P said last year the debt ratio of Japan, the most heavily indebted
industrialised country, was set to surpass 700 per cent of GDP by 2050.

http://news.ft.com/cms/s/3460ab64-9982-11d9-ae69-00000e2511c8.html ===

Beginning March 15, 2005 the Bank of Russia has set the following structure of the bi-currency basket: 0.2 euros and 0.8 U.S. dollars, the Bank said in a statement.

http://www.mosnews.com/money/2005/03/21/cbeuro.shtml

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This is a very ‘black picture’ of the western world indeed, where progress started a few centuries ago but seemingly is ‘progressively’ going downhill. 

If we admit that we are living in an illusion, then ‘progress’ is leading us sooner or later to our self-destruction. I do not believe that this happened by chance or by wrong choices made by politicians. 

Who is really behind this and who orchestrated it?  

The banks and those who control them. 

If you care and want to understand what is going on, here is an article by Henry Makow Ph. D. [28/8/02]: “Making the World Safe……for Bankers” - http://www.savethemale.ca/280802.html.

As well as that, there is a very interesting book, "The Confessions of an Economic Hit Man", by John Perkins, which explains how corporations, multinationals, I.M.F and the World Bank are all linked together in shoddy and dirty business in order to indebt developing countries to their total demise.

Please, click here to read an interview with the author of the book, " The Confessions of an Economic Hit Man", John Perkins.

Till next time then.

Nadir Martello

Contact: nadir@sheddinglight.info

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