Kucinich: Federal Reserve No More "Federal" Than Federal Express!

[LargoWinch]

Re: Kucinich: Federal Reserve No More "Federal" Than Federal Express!

Woa. Thanks Rajiv.

Too bad no solutions are proposed...

[D-Mack]

Re: Kucinich: Federal Reserve No More "Federal" Than Federal Express!

interest free lending is not what it appears to state prima facae. It does not mean that there are no charges for lending money -- there are charges -- look again at Silvio Gisel's work -- also Margrit Kennedy's -- All it means it that in long term lending, charges cannot accumulate beyond a certain point.

It also forces savers to enter into profit sharing partnerships with entrepreuners -- profit sharing partnerships are not "interest" -- Successful ventures result in profits, while unsuccessful ones lead to losses for both the investor and the entrepreneur.

Margrit Kennedy

Four Basic Misconceptions About Money

I hear Hudson talk about the magic of compound interest all the time.

Does anybody know what he proposes as an alternative?

[ricket]

Re: Kucinich: Federal Reserve No More "Federal" Than Federal Express!

ricket, I still respectfully disagree with you.

While my ideas may be a little idealistic, the basic reality is this...

Banks loan money (which is created the moment the loan document is signed) of which only the principle is created. The "interest" is never created which makes it mathematically impossible to pay back any modern interest bearing loan (if you factor in all the loans in the entire closed system of monetary lending --this is what actually causes the boom+bust cycles).

Not sure what your religion is, but you should read up on "usury" and what it actually is. The bible is interpreted that even 1% interest on loans is considered usury. In my opinion, I think this serves a moral purpose that goes much deeper than most people realize.

I do feel that people should be rewarded for taking risks with their own capital, but not at the expense of the one who is actually doing the work, because without that entrepreneurial spirit, money would just be money and no one would do anything with it, and it would be worthless anyways. It's only the belief in the money and the willingness of those to try and use that money to create new goods and services that benefit society that actually cause human civilization to progress.