We need to change bank system

Economist Jim Power says the ideas of independents and those who question austerity, etc, scares the living daylights out of him (Irish Examiner, May 28). He hopes all will return to normal and by 2016 the people will continue to go with the status quo of political parties.

In 2008, when the bankster-engineered crash hit, not all of the people retreated into a shell of helplessness and fear. Some learned about money, money creation and economic management. What they found horrified them, but equally it empowered them greatly as they realised it was all a great scam and a giant Ponzi scheme.

After all, how can one square that all money in circulation was created as a debt? That said debt has interest demands and the interest component does not exist? That banks create all money out of thin air at the point of a loan being made and hence there are no legitimate creditors? That governments ceded all power to create money to private banks and see nothing wrong with this? That banks create repeated boom/bust cycles by either releasing massive credit like during the Celtic Tiger or stopping all credit flow like the engineered crashes of 1929 and 2008? That modern banking is a long range game designed to slowly seize the physical assets of people and countries?