In spite of the holy promises of people to banish war once and for all, in spite of the cry of millions "never again war" in spite of all the hopes for a better future I have this to say: If the present monetary system based on interest and compound interest remains in operation, I dare to predict today that it will take less than twenty-five years until we have a new and even worse war. I can foresee the coming development clearly. The present degree of technological advancement will quickly result in a record performance of industry. The buildup of capital will be fast in spite of the enormous losses during the war, and through the oversupply [of money] the interest rate will be lowered [until the money speculators refuse to lower their rates any further]. Money will then be hoarded [causing predictable deflation], economic activities will diminish, and increasing numbers of unemployed persons will roam the streets ... within these discontented masses, wild, revolutionary ideas will arise and with it also the poisonous plant called "Super Nationalism" will proliferate. No country will understand the other, and the end can only be war again.--Silvio Gesell (1918)
Posted on: Fri, 27 Sep 2013 18:56:43 +0000
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