PLEASE INFORM ALL SOUTH AFRICANS: ECONOMICS AND SCHOOL TEXTBOOKS THAT TEACH BASIC ECONOMIC THEORY ARE INCORRECT. The banks have finally admitted that the text books are wrong and that NewERA is correct. Because of massive pressure from lobby groups, The Bank of England has officially confirmed what NewERA has been desperately trying to show and prove: The principal way in which [money is] created is through commercial banks making loans: whenever a bank makes a loan, it creates a deposit in the borrower’s bank account, thereby creating new money. This description of how money is created differs from the story found in some economics textbooks. Even our own High Court Judges did not believe us when we tried to show this! Did you know that the activities of the privately owned South African Reserve Bank are totally secret? The ANC, DA, and other political parties are funded by the banks. The banks will continue their reign of terror because most banksters themselves do not understand how money is created. They were taught incorrectly at school and in University. They believe that banks make loans from their deposits. This is a huge educational problem. Please understand something. Unless we change the money system, you are wasting your time going to the voting booths. You are merely shuffling deck chairs on The Titanic. You must vote for a political party who will take the banks to task. Our land and resources are being sold to foreign countries because we think we need their money. More police and resources are being diverted to collecting fines, e-tolls and selling out to massive multi-national corporations because we think they need money. Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits Money is created out of nothing! Then interest is charged on that money, putting the people into debt slavery. This is not necessary and there is a solution: full economic transparency and reform. Please read the article below and send it on. We must stop private banks from creating private money, charging interest on this money and then deciding in secret how it will affect the people of South Africa. newera.org.za/our-economic-textbooks-are-wrong-says-bank-of-england/ theguardian/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity
Posted on: Sat, 29 Mar 2014 09:42:11 +0000
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