I liked this comment from an earlier post on usury so much that I think it deserves its own space. Here it is:
"The Federal Reserve Back creates ALL Dollars in circulation, and the individual banks assist in creating digital Dollars through fractional reserve banking. 100% of all Dollars created, whether printed by the Department of Treasury, or created digitally by banks, are interest bearing documents (hence the name Federal Reserve Note), which must be repaid only with more Federal Reserve Notes. This is a very important distinction.
"Because of the Federal Reserve Act, ALL Dollars (FRNs) are perpetual debts without the ability to pay back in full, since all interest on the Dollars borrowed can only be paid with more Dollars, each bearing interest payments. More plainly, not only are the Dollars debt, but the interest payments are also debt.
"ANYONE (especially politicians) who claim they will reduce the debt, are either lying, ignorant, or both, as the Dollar based debt can NEVER, EVER, EVER, be repaid. It can only be defaulted upon. But since the bankers who control the Federal Reserve Bank are in control of most western governments, including the US, this nation will only become more indebted until The People revolt and ensure the Dollar debt is defaulted upon. But until more people realize how Dollars are created and used, and that 100% of all Sixteenth Amendment Income Taxes are used only for interest payments (not SS, Medicare, Defense, etc.) towards Dollar debt to the privately owned Federal Reserve Bank, little will change."
Surely someone's getting very rich through this ponzilike scheme of ad infinitum usury. But feel free to disagree.
In other news, I got a haircut, like a depositor in a Cypriot bank. Short's the word.
Your old buddy,
LSP
