Quote from: Erdogan on July 30, 2015, 10:53:24 AM

Re the first link: Please note that this is not the magic of the free market, rather it is the state subsidizing the robots. In their wisdom, they have decided that robots can better do the work, and they use scarce capital confiscated from the public to do it.

The market would only do it, when wages are so high that the capital expense would be lower than keeping the workers, the price of labour signaling that it is so valuable that it could better be used elsewhere.

Citizens provide collateral: when there is no need of collateral (i.e., when a nation's lenders have become its government [i.e., under plutocracy]), there is no need of We the People (United Sates).

Quote from: username18333 on February 16, 2015, 12:00:23 AM

Quote from: Peaceful Revolution Network link=http://www.xat.org/xat/moneyhistory.html

The 50 years of war left England in financial ruin. The government officials went begging for loans from guess who, and the deal proposed resulted in a government sanctioned, privately owned bank which could produce money from nothing, essentially legally counterfeiting a national currency for private gain.

Now the politicians had a source from which to borrow all the money they wanted to borrow, and the debt created was secured against public taxes.

You would think someone would have seen through this, and realised they could produce their own money and owe no interest, but instead the Bank of England has been used as a model and now nearly every nation has a Central Bank with fractional reserve banking at its core.

These central banks have the power to take over a nations economy and become that nations real governing force. What we have here is a scam of mammoth proportions covering what is actually a hidden tax, being collected by private concerns.

The country sells bonds to the bank in return for money it cannot raise in taxes. The bonds are paid for by money produced from thin air. The government pays interest on the money it borrowed by borrowing more money in the same way. There is no way this debt can ever be paid, it has and will continue to increase.

If the government did find a way to pay off the debt, the result would be that there would be no bonds to back the currency, so to pay the debt would be to kill the currency.

(Red colorization mine.)

Tax revenue is a form of collateral for the loans provided to governments by central banks.