The Debt Problem...
Let's imagine you were immortal.
Now, let's imagine you spent $1 million every day...
For 2,000 years...
Then another 400 years...
Then another 80 years...
Then another 16 years...
You would still be over $80 billion short of spending $1 trillion...
Now, let's imagine global debt was $272 trillion.
Well, this last part is far from imaginary.
The foreign lending trick makes developing countries dependent.
Their assets and resources often become the collateral for these loans.
Moreover, their currencies tend to weaken over time compared to developed countries.
This means that their foreign debt in domestic currencies terms goes up, then they have to service this debt with compounding interest and we can see clearly why there is a net flow of money from poor countries to rich.
Of course, the offshore infrastructure (which is also owned by the developed countries) allows corrupt officials in these poor countries to hide their stolen wealth.
It's worth emphasising the Banks of course just create the money out of nothing anyway!



SOURCES:

Audience Questions for Richard Werner, Larry Kotlikoff, William White and William Dunkelberg
   • Audience Questions for Richard Werner...  

Richard Werner at the Rhodes Forum 2015
   • Richard Werner at the Rhodes Forum 2015  

Nicholas Shaxson - Interview
   • Nicholas Shaxson - Interview  



MUSIC SOURCES:

Jake One Behind The Beat Wale "Groundhog Day"
   • Jake One Behind The Beat  Wale "Groun...  

Jake One Making of the Beat for J Cole "3 Wishes"
   • Jake One Making of the Beat for J Col...  

JUST
   • JUST  






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