Resist by Boycotting Your Bank!

Posted: May 12th, 2012 by Militant Libertarian

Take Your Money Out of the Bank Now!

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

by Anthony Migchels, HenryMakow

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.

This article on Anthony’s website

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