also see ” Money as Debt ” video – In the US , banks are allowed to lend further 10 percent of the money they lend. Also , as the money lended is freshly created money on which they sometimes make comfortable interests , it will most probably come back into a bank account within the banking system , allowing the bank to lend even more money – as banks in the US have the right to lend 9 times more as the amount of money ( ones and zeros ) they have on their accounts.
Also , as there is interest on money created , to be able to pay off theinterest , ever greater amounts of money need to be created , and therefore lended from private banks , leading to a unlimited system of enslavery to the financial system. All banks need to do to take over on the whole economy , is to stop to process of new money creation through new lending of money , to trigger a endless domino fall of bankrupcies , which then fall into the control of the banks. But even when it is not so , more and more of the population ends up into debts it can not repay , and only the biggest and most powerful corporations and those that have the most money and can use this money to get even more money , can survive. The rest will eventually sink into debt , end up being enslaved into the system , untill , eventually , they loose everything but their skills , and eventually end up into wage slavery , if there is still a job for them : http://en.wikipedia.org/wiki/Wage_slavery
It is time to develop new economics , new priorities for our society !
a text of mine : beyond self actualization ? Now !