"The whole profit of the issuance of money has provided the capital of
the great banking business as it exists today. Starting with nothing
whatever of their own, they have got the whole world into their debt
irredeemably, by a trick.
This money comes into existence every time the banks 'lend' and
disappears every time the debt is repaid to them. So that if industry
tries to repay, the money of the nation disappears. This is what makes
prosperity so 'dangerous' as it destroys money just when it is most
needed and precipitates a slump.
There is nothing left now for us but to get ever deeper and deeper
into debt to the banking system in order to provide the increasing
amounts of money the nation requires for its expansion and growth.
An honest money system is the only alternative." | by: | Frederick Soddy
(1877-1956) British author, professor, Nobel Prize for Chemistry, 1921 |
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