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Resist by Boycotting Your Bank!

May 4, 2012

banks.jpegTake Your Money Out of the Bank Now!

People don't understand how
they are fleeced through interest
on fictional debt.








by Anthony Migchels
(henrymakow.com)


The current austerity program is an assault by the Money Power.

What is worse: even without the credit crunch, we are paying trillions per year in interest for absolutely nothing.
 
The solution is simple: quit their banks.

The Money Power's goals are obvious. It is not just the massive multi trillion wealth transfer that is under way. It is about bringing the West down a few notches. The US seems strong with a nominal $30,000 per capita GDP, but when the dollar devalues against the Brazilian Real and the Chinese Yuan, things will quickly look different. It will also be the end cheap raw materials.

The reason this crisis exists is because the banks, politicians, the media and economists are colluding in fooling the many into believing we need banks for our money supply. Most of them probably even believe this is true themselves.


They say we need the banks, because otherwise the real economy would have no money to trade with.

All this is complete and utter rubbish, of course. If banks can create credit, then anybody can. That's just common sense.

Just imagine: we are led to believe that we need to cough up trillions just to have a means of exchange that is completely paper/computer based. I.e., almost free of cost.

Banking is part of the Babylon Mystery and bankers believe we are still enthralled with their 'fractional reserve banking' sleight of hand.

And they are right. Although people are waking up, they still don't get it.

 A good example of this is the 'take your money out of Bank of America' of last October. Bank of America decides to rake in an extra $60 per year with a silly fee. This upsets people.

While they are paying $300k interest over 30 years on their $200k mortgage. Which the bank created out of nothing the moment they borrowed it.

Meanwhile, 45% of our disposable income is lost to pay for capital included in the prices we pay for our daily needs.

In other words: Penny wise, pound foolish.


People still don't understand how they are fleeced through interest on fictional debt.


FACING REALITY


Of course, it was good to see people finally showing some teeth.

Boycotting the banks is the blindingly obvious approach. If somebody is enslaving you with interest and fractional reserve banking while destroying the economy by not lending why would you patronize his business?

To say this is irresponsible as it will worsen the crunch is ridiculous: propping up a system that only exists to enslave us is irresponsible, not disconnecting from it.

But only few even within the Free Media are willing to accept this simple conclusion.

The fact of the matter is: many are still enthralled with the 'magnificent edifice of international finance', as Rothschild mouthpiece the Economist once called it.

It is unfortunate that there is still widespread misunderstanding about both money and our real problem with it.

People do not yet understand how pervasive the enslavement through interest really is.

That's why they fall for the notion that Gold will solve our problems. But what does it matter whether we pay all this interest for Gold or for paper based credit? The Money Power owns both and all the interest will end up in the same place.

The mind control of the rich, the social conditioning to accept the current order and its despicable 'morality', to defend it at the cost of oneself and one's loved ones is very profound and pervasive in our beliefs. They are not easily uprooted, not even by the 'Internet Reformation'.

In the mean time we are ignoring the real solution: interest free money. Either debt free, in the form of Social Credit, which would work out like a 'Citizens Dividend'.
Or interest free credit, through Mutual Credit.

These solutions are real and we can implement them today.

We would no longer pay interest on a mortgage, which would also mean much lower rent.

We would pay 45% less for what we need, because there would be no  capital cost included in prices.  World Government would be dead and Big Business would face the competition of well funded small business.

Washington and Brussels are owned by the Money Power in the City of London. But the main reason we are not doing this is the people don't understand the problem and therefore the solution.


FIGHT BACK!


We don't need to wait for reform on a national level. We can create our own currencies. High powered currencies, not just the simple barter units that are now starting to float everywhere in the world. We can create extremely effective, interest free credit based units, convertible to dollar or euro providing us with a printing press with which we can buy back the world interest free.

But these will take time to build up. Meanwhile, the obvious thing to do is pull our money out of the banks.

We should not have one dime in that system. Every dollar we put in the banking system gives them a dollar income per year. Remember that. The system, through fractional reserve banking, multiplies your dollar by ten and takes interest over each of them.

Real interest rates (including credit cards) are probably close to 10% and that means they make a dollar per year over every dollar you have in your account.

And you can maintain an account for monthly payments, just keep its balance at almost zero. Pay your bills and take out the rest.

Force the FED and ECB to print ever more for bailouts.

Pay cash only. Don't support their cashless society. Liquidate all your paper assets, both to blow up the system and to minimize your own exposure to the implosion.

Let them squirm and lie ever more transparently with every new bailout that they need to force upon us. Let them show their hand. We're not going to 'repay' odious debt.

We're not afraid. We don't need them.

Let them eat cake.

Related:
The Swiss WIR, or: How to Defeat the Money Power
Mutual Credit, the Astonishingly Simple Truth about Money Creation

Understand that the Banking System is One


This article on Anthony's website


Makow comment:  If the government represented us, it would take over the national bank and spend the money into existence or loan it interest-free.








Scruples - the game of moral dillemas

Comments for "Resist by Boycotting Your Bank!"

Tony B said (May 13, 2012):

Anthony is so right about quiting the banks. As a young man I had a brother-in-law who insisted that I needed to "establish my credit" and open a bank account, which I did reluctantly as I had, from the beginning, dealt in cash without any problems and couldn't see how banks could give me anything better, simpler and more logical. Shortly, my checks for bills owed were returned with notice of no funds. I had deposited my paycheck on Friday and written and mailed the checks on the following Monday. After forcing the bank to make the bills and late charges good I closed my account - forever. If that is "establishing one's credit" they can have it. I'll take care of my own debts, and my own gains, thank you.

Later in life, when I studied money and met with and discussed the issues involved with a goodly number of similar thinking "patriots" I was still the only one that dealt strictly in cash without having any contact with banks other than the cashing of checks others dropped on me, such as payroll checks when I could not force my employers to pay me in cash. Even Liberty Lobby and later AFP operate through establishment banks and issued me checks. At one time my signature was even on the payroll checks of Liberty Lobby as the proper officer of the corporation. Those facts are literally insane and very discouraging as to ever making proper corrections. If right thinking people will not live what they know to be true and proper economically, there is absolutely no hope politically as they, too, just like those in complete ignorance, finance their own destruction by dealing with and accepting the criminal theft of a portion of their gains or just earnings by bankers.

Of course it is not easy to deal only in cash anymore, the banks have made certain of that. However it is a necessity for anyone who would be economically free. Patriots, quick to whine about every gain they thus furnish their enemies, need to put their wills where their mouths (pens, keystrokes?) are. Only then will they have less to whine about politically.


Henry Makow received his Ph.D. in English Literature from the University of Toronto in 1982. He welcomes your comments at