between_the_lines Says:
December 18th, 2010 at 11:46 am
The Eupopean Central bank that issues the Euro is privately owned. It is owned by the central banks of member countries, which in turn are privately owned. This is an exact parallel to the US where the central bank (the “Federal”-Reserve group) is privately owned and issues the “Federal”-Reserve banknote the world mistakely thinks of as “the US dollar”.
Neither the EU nor the US issue currency, they only issue interest-bearing bonds and pledge them as collateral to borrow the private currency of the owners of their central banks. And those owners are the same group of International Bankers in both cases – the EU and the US. And in both cases, when the bonds come due, the government prints up more bonds to borrow even more of the International Banker’s currency, and uses the proceeds to pay off the capital plus interest of the earlier loan, and spend the rest on government projects to increase the nation’s money supply to kepp pace with economic growth. And so on ad-infinitum (or until the natives revolt).
It is a massive Ponzi scheme and it guarantees that a nation’s total debt to the International Bankers will always exceed the total money supply. And it’s not just the EU and the US either, MOST countries in the world have been infected with the same parasite.
Having the EU-member nations print their interest-bearing bonds collectively rather than individually, will not solve the problem. The solution is for each nation(in the EU and the world) to print its own government-issued debt-free currency again, instead of printing interest-bearing bonds. If a nation can print bonds it can print money.
ALSO..
Another defacto way of creating currency is: banks lending more of the currency than they have in reserve (the fractional-reserve system). And we need to end that too or the bankers will start cloning the new government currency the same way they cloned the old private currency.
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MORE INFO:
[how international bankers gained control of america]
[it is now mathematically impossible to pay off the u.s. national debt]