We need to end banker occupation.
The commercial banks like to portray themselves in their advertisements as the great providers. They tell us they’re there with us through all our major life events – whether it’s buying a house or having a child – and just during the course of our everyday lives.
But our banking system is a cartel that maintains power of us. It does this primarily by buying the political process and by creating debt dependancy.
Under fractional reserve banking, they charge us billions in interest on money they never had, making us work harder and longer to keep them in riches. Typically, more than 97% of the money circulating our economies is debt created by commercial banks when they make loans – notes and coins only make up 2.6%.
This is an enormous wealth-extraction process. For instance, monetary reform group Positive Money estimates that, depending on the overall rate of interest, Britons pay between £90bn and £140bn a year in interest on money that doesn’t exist.
The banks drive one of the greatest transfers of wealth known to man. It extracts wealth from poor to rich; from the bottom 90% of the population – who are largely net debtors – and transfers it to the top 10% – the creditors.
It also transfers wealth by sector; from the productive sector – from people who actually make things of value – to the non-productive financial system.
And it transfers wealth by region; from the periphery to the centre. In Britain, this is largely from the regions to London.
In the process, the banking system uses its power to create money out of nothing to inflate the price of assets, such as housing, so that it becomes increasingly unaffordable. Governments – particularly those on the Left – are castigated for printing money and stoking inflation.
But our chums in the banking industry do it all the time.
End banker occupation
This has been allowed to happen because our central banks have effectively sub-contracted the supply of money in our economies to the commercial banking industry.
It’s an industry that manipulates the markets, subverts our democracies and lobbies our governments behind the scenes to shape policy in its interests. And, because of its close links with the entrenched fossil fuels industry, the banks weaken action on climate change.
But they have foisted so much debt on us that another crash is almost inevitable.
However, the debt dependancy is more than just a form of social and economic control. It’s also a motor of over-work and over-consumption that is ultimately unsustainable.
The opposition parties and campaign organisations tend to get stuck in negative arguments. They tend to come across as worthy and, ultimately, irrelevant to the need to create wealth.
The Debtors’ Cartel aims to use satire, humour and irony to expose the false morality of economic theories that support the banks and their hidden power-grab. By highlighting the issues, it aims to help ordinary people, and businesses, to defend their interests.
Initially, the Debtors’ Cartel offers merchandise – t-shirts, mugs and tote bags – featuring slogans and designs which are both political and artistic. But we also have plans to sell our own beers and run events. Watch this space.