Author Topic: Economic Permazero - vindication of Church teaching on usury.  (Read 367 times)

Offline Xavier

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Economic Permazero - vindication of Church teaching on usury.
« on: February 13, 2018, 03:10:08 AM »
In Rerum Novarum (p.3), Pope Leo XIII condemns usury, "The mischief has been increased by rapacious usury, which, although more than once condemned by the Church, is nevertheless, under a different guise, but with like injustice, still practiced by covetous and grasping men." And it's quite clear this guise is usury on a macroeconomic perspective, i.e. of fractional reserve central banking, which even some economists have said "was conceived in iniquity and born in sin". This is confirmed by Quadragesimo Anno (p. 106) "This dictatorship is being most forcibly exercised by those who, since they hold the money and completely control it, control credit also and rule the lending of money. Hence they regulate the flow, so to speak, of the life-blood whereby the entire economic system lives, and have so firmly in their grasp the soul, as it were, of economic life that no one can breathe against their will." And it has to be noted here that the "no one" can sometimes include the Roman Pontiffs themselves, who can be bullied into silence or only indirect condemnations; since it's not an exaggeration to say central bankers can plunge whole nations into unpayable debts, start world wars, or consign millions of people to poverty and hunger, as the current system does. Central banking is one of the tenets of Marx and Engels, President Lincoln fought against it; the Fed was only established in America in 1913. Central banking began only after nations had fallen from the Church, and England, in 1694 (Sweden in 1668 is insignificant in comparison) was its major victim. From there, it spread throughout the world like a cancer, till today almost the whole world has fallen under the sway of this fundamemtally Marxist error of central planning and central banking. Central banking robs sovereign nations of the power to control their own money supply, and fractional reserve banking compounds the injustice. Banks create money as a debt that society supposedly owes them and that usually can never be repaid using even all the money units in circulation put together. https://www.zerohedge.com/news/2017-06-29/global-debt-hits-new-record-high-217-trillion-327-gdp This is part of the reason why world debt exceeds world gdp many times over. https://www.michaeljournal.org/articles/social-credit/item/banks-create-money-as-a-debt

FRB was invented by goldsmiths who found it easy to make money with gold locked up for protection, without ever putting it to any productive use, by charging usury on it; soon, usurers found out they could illicitly make millions more than they ever dreamed by falsely pretending central banks were necessary. It's commonly taught even today that with a "reserve ratio (fixed by the central bank) of 5%" (meaning, the central bank, the supposed "lender of last resort" requires banks to hold only 5% of its initial deposits, say 100, lends the remaining 95 to bank A, which does the same to bank B - so that only 100 actual dollars in the economy seems to be 100+95+(95% of 95)+ ... until everybody realizes the whole sysyem is a Ponzi scheme, and bank runs and credit crunches, such as the Great Depression and Great Recession, are engenderd) $100 can become, theoretically, $2000=100/(0.05)

Warren Buffett intuited some years ago "If the government absolutely said interest rates are going to be zero for 50 years, the Dow would be at 100,000,"  https://www.cnbc.com/2016/05/02/buffett-says-if-the-government-did-this-the-dow-could-hit-100k.html the main reason they will not do it (keep interest rates at permanent zero) is because more and more people will then start to question why the fed is even necessary in the first place. Thus, these hucksters, as soon as the economy starts to perform in any measure comparable to its actual capacity, will claim the economy is "overheating" (using a false engine analogy) and that it needs to be "cooled" (in other words, the Fed deliberately will ensure the economy grows less than it could) and deviate from permazero. http://money.cnn.com/2018/01/11/news/economy/ny-fed-economy-outlook-2018/index.html Bankers have followed this policy for decades. We have to credit President of St. Louis Fed James Bullard for having the honesty and decency to admit "This contrasts sharply with conventional wisdom and central bank rhetoric, including much of my own" https://www.stlouisfed.org/news-releases/2016/03/18/st-louis-feds-bullard-discusses-zero-interest-rate-policy

Thanks in large measure to him, permazero is now an absolutely solid and well established idea in the academic literature of economic journals. Hopefully, the abolition of the Fed will be the next logical step.

How best can we end central banking or at least lower to zero or close to zero the usury that it causes forever?
Mary, our Heavenly Mother, implores those who receive Holy Communion Daily, or at least Weekly, to Offer their Lives. TEXT OF THE LIFE OFFERING: "My dear Jesus, before the Holy Trinity, Our Heavenly Mother, and the whole Heavenly Court, united with Your most Precious Blood and Your Sacrifice on Calvary, I hereby Offer my whole Life to the Intention of Your Sacred Heart and to the Immaculate Heart of Mary. Together with my life, I place at Your disposal all Holy Masses, all my Holy Communions, all my good deeds, all my sacrifices, and the suffering of my entire life for the Adoration and Supplication of the Holy Trinity, for Unity in our Holy Mother Church, for the Holy Father and Priests, for good Priestly vocations, and for all souls until the end of the world. O my Jesus, please accept my life Sacrifice and my offerings and give me Your grace that I may persevere obediently until my death." Amen. https://www.avemariamaternostra.com/life-offering-promises.html It is recommended that you make this Life Offering as soon as you feel ready, and to renew it from time to time.

Please read the Blessed Mother's promises in the link: those who make it seriously will face no Purgatory (promise 5) since they would have completed it here, will have all their loved ones released from Purgatory the day they offer their life with intent to persevere (promise 4), and can save the souls of all their family members in due time by their life offering (promise 3). It will benefit all souls who have ever lived until time's end (promise 2) A simple effective way for thousands of us to save millions of souls. You will have your name written in the Hearts of Jesus and Mary forever (promise 1).
 
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Offline james03

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Re: Economic Permazero - vindication of Church teaching on usury.
« Reply #1 on: February 13, 2018, 10:53:13 AM »
Quote
since it's not an exaggeration to say central bankers can plunge whole nations into unpayable debts, start world wars, or consign millions of people to poverty and hunger, as the current system does.

First off, I hate fractional reserve lending, central banks, and usury.  That being said, what you wrote IS an exaggeration if you don't make distinctions.  Central Banks CAN'T plunge whole nations into unpayable debts.  CB's ENABLE leftist governments to run government programs on debt.  That distinction is important.  For if you get rid of CB's (a good thing), and turn the printing press over to the government, you get Venezuela, because you haven't eliminated the leftist mindset.
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Offline mikemac

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Re: Economic Permazero - vindication of Church teaching on usury.
« Reply #2 on: February 13, 2018, 01:18:06 PM »
How best can we end central banking or at least lower to zero or close to zero the usury that it causes forever?

You touched on it in another thread recently.

https://www.michaeljournal.org/articles/social-credit/category/in-this-age-of-plenty

I know the Tea Party was seriously looking at this; until the libertarians took over that movement.

Social Credit ran a successful government in Alberta from 1935 to 1971.  One of the longest unbroken runs in government at the provincial level in Canada.  In May 2017, the party changed its name to the Pro-Life Alberta Political Association following the election of anti-abortion activist Jeremy Fraser as leader.
Like John Vennari (RIP) said "Why not just do it?  What would it hurt?"
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