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. In fact, our schools and universities teach a “mythological story of what banks do” according to Lord Adair Turner, a former bank regulator. Read this for the truth: positivemoney.org/2014/04/former-bank-regulator-adair-turner-says-economics-textbooks-teach-mythological-story-banks-full-transcript/?mc_cid=eea141e381&mc_eid=21bfea1594. Also, 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.“ Read this and fall off your chair: theguardian/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity Even our own High Court Judges did not believe us (or did not want to believe us)! 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. And thanks to laws like section 33 of the Reserve Bank Act, they get away with it in absolute secrecy. 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! Loans are created from nothing! Then interest is charged up front on that money, putting the people into debt slavery. This is not necessary, but there is a solution: full economic transparency and the creation of a People’s Bank. 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.
Posted on: Sun, 29 Jun 2014 01:26:54 +0000
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