Debt is a concept created ‘out of thin air’

The Central Bank of England and the German Central Bank have both said that debt is not loaned by commercial banks but is created ‘out of thin air’.

Many of us have being saying this for years, but I am not moved to trust this sudden ‘honesty’.

Austerity was rammed down countries’ throats because someone, somewhere, was out of pocket — or so we were told.

This was not true, and the implementers of austerity knew it wasn’t true, so they are guilty of treason. The answer is simple. Reset everything, remove money creation from bankers, and return it to the people.

Have one flat, truly benign tax, best done as a sales tax of roughly 10% on consumption, which would be enough to balance the books. Outrageous inflation, caused by the creation of money ‘out of thin air’, would disappear, thereby reducing the need for most taxation. Currently, it is all done by consent.

Everything. Your silence signifies to them that you consent. If you think property tax is onerous now, wait until it is €10,000 per year, all rammed down your throat to pay your ‘creditors’. How long more will the people silently consent to being abused?

Barry Fitzgerald

Lissarda

Cork