Debt, bankrupcy, recessions

David Pelly Author; What Money?

The truth about Money, debt, bankruptcy, and recessions.

Presented the topic; Why the economy really collapsed.

The economy collapsed due to the credit money supply system.

This simply means that all money enters the economy as debt, when someone goes to the bank  and gets a loan. This is principal is spent and becomes our currency. All the money in existance is principal. Principal is backed by colateral.

There is no money created to pay for the interest.

This creates a deficit that grows with interest and over a period of seven years grows  larger than the new loans being borrowed.  This deficit is tied to collateral. This deficit uses up most of the collateral in the economy, therefore restricting the ability to borrow more money, This is the cause of a recession. Until this problem is fixed, the economy will not recover untill we have about $2 trillion worth or bankruptcies.

The credit money supply is a fraud, that systematically bankrupts a country over a period of seven years.

whatmoney@execulink.com

www.whatmoney.org