Why are you broke?

CAREFUL with your finances and pay your credit cards on time to avoid interest charges? Don’t be too smug.

Every time you purchase a train ticket; buy a pair of shoes or use public services roughly 40 per cent of the outlay will have gone to the banking industry’s vaults.

According to Ellen Brown, chairman of America’s Public Banking Institute, bank interest charges are regressive, which means the poor are milked to gratify the rich.

A public banking sector would discount up to 40 per cent off everything we buy or use. This is the reason why the private banking system can’t ultimately challenge nationalised banks like those of Russia, China and Iran.

It explains America’s $21 trillion debt. Farmers, manufacturers and transportation costs are dependent upon bank credit. Each in the supply chain must invest, use premises, engage labour, materials and transport, etc.

This before the end product is available. This credit is accumulative and variable.

German professor, Margrit Kennedy reveals that 35 to 40 per cent of everything we buy goes on bank interest.

Each time local government and ordinary purchasers spend €100, 40 per cent is siphoned off by the banking conglomerate’s accumulative interest rates.

Dr Kennedy discovered that even in fiscally prudent Germany bank interest adds 12 per cent to the cost of refuse collection.

When we receive a water bill presume an eye-watering 38 per cent of the invoice value will go directly to the e-vaults of the private banking sector.

In Germany a breathtaking 77 per cent of rentable public housing goes in private bank interest.

American citizens need not smirk; compound interest on most mortgages amounts to 80 per cent of what they pay for home or business premises.

The home of the free is actually the home of the free ride if you are a bondholder, banker or financier.

The noted German researcher and analyst draws heavily on the findings of economist, Helmut Creutz.

His findings are based on the German economic model. However, if you are not German don’t get too excited; the same corrupt banking system is in place throughout the European Union and United Kingdom.

Financial sector profits comprise an incredible 40 per cent of the price of whatever Americans purchase.

This may go some way to explaining why 1 per cent of Americans own 42 per cent of the national wealth.

Only 5 per cent of America’s wealth is shared between those making up 80 per cent of the population.

If we had a financial system that transferred private bank interest back to the public purse 35 per cent could be lopped off the price of everything we buy.

That means we could buy three items for the price of two; our salaries would go 50 per cent farther than they go today.

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