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Originally Posted by mikey_the_redneck
It has very little to do with the political leaders and alot more to do with international central banking practices of these nations. The bankers flat out own most if not all of the G20 nations.
If the "leaders" want to make a real difference they should stay home and change their domestic banking laws to make it so we don't have to create money through private banking cartels, putting us in debt with compound interest.
Institutions like the IMF/World Bank, and WTO should be disbanded forever. They favor nothing but banks and corporations.
The planet as a whole is about 52 trillion dollars in debt to the banks of this world.......and it doesnt have to be this way.
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Bankers, especially central bankers are subordinate to their respective governments' laws. Evidence of this is found in how several of the G-20 governments are planning on changing bank regulations and are planning to or are raising taxes against that industry.
There isn't some grand conspiracy here. People elect governments whose platforms support the economic status quo and do not elect parties who propose radical change such as the NDP. If you want things to be different, you have to start by convincing a lot of people who disagree with your position.
As for waving a wand and abolishing government and personal debt, I have yet to hear a proposal for how anything would get done without access to capital. I could not afford my house when I bought it so I borrowed capital, paying a price to do so. Government revenues are hugely variable from year to year and thus they need access to capital to operate in lean years, lest they create worse inefficiencies by slashing spending when incomes aren't good.
If banks (and through them shareholders) don't have something to gain by lending capital then none will be lent.
I'm keen to hear how you think that economies would operate without compound interest.