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You are careful with your finances and pay your credit cards on time to avoid interest charges? Don’t be too smug. Every time you purchase a train ticket; buy a pair of shoes or use public services roughly 40% of your spend will have gone into the vaults of the international banking houses.
According to Ellen Brown, chairman of America’s Public Banking Institute, bank interest charges are regressive. This means the poor are constantly milked to further enrich the rich.
A public banking sector such as enjoyed in National Socialist Germany and other ‘rebellious’ nations would discount up to 40% off everything we buy or use. This is the reason why the private banking system fear and challenge nationalised banks like those of Russia, China and Iran. It explains America’s $23 trillion debt.
Agriculture, manufacturers, services and transportation costs are dependent upon bank credit. Each in the supply chain must invest in their business, use premises, engage labour, buy materials and use transport, etc. This before the end product is available. This bank credit is accumulative and variable.
German Professor Margrit Kennedy reveals that 35% to 40% of everything we buy goes on bank interest. Each time local government and ordinary purchasers spend €100, 40% is siphoned off by the banking conglomerate’s accumulative interest rates.
Dr Kennedy discovered that even in fiscally prudent Germany bank interest adds 12% to the cost of refuse collection. When we receive a water bill presume an eye-watering 38% of the invoice value will go directly to the vaults of the private banking sector. In Germany, a breath-taking 77% of rentable public …