I was recommended this book somehere!
I am as McDonald’s say “luvin it!”
My degree includes Economics and it is wonderful to read something that brings together many loose threads and discusses myriad illogicalities.
Rowbotham uses the phrase “debt based financial systems.”
I just checked wiki and the government only creates 2% of the money in circulation in Britain M0, whilst banks, wonga et al create 98%, all of which involves interest charges…..
It has always puzzled me how come it is more profitable for a Post Office to stop using a building it paid for years ago and then rent a space in a WHSmith, how come companies are better off taking out huge debts to hedge funds, why mortgagees are still paying for properties that were built and paid for fifty, a hundred years ago….
Similarly, developing country farmers are told they must by seeds, fertiliser, diesel, pesticides with loans…..
Why? The potato park in Peru didn’t have that – the Aztecs didn’t actually have money.
I am a strong gnostic atheist – I know there are no gods except the flying spaghetti monster, (bless her noodliness), the invisible pink unicorn and the dark goddess of chocolate.
I did not realise how religious the world is with their god mammon, its holy spirit of the free market and its saviours the hedge fund and the banker!