The Invention of Debt
by James Jaeger
The invention of DEBT inevitably truncates expansion. Had the United States stayed out of debt from 1913 to the present, we would see growth rates in excess of 25% per year with exponential expansion on the horizon ... in other words, we would see growth rates that could be called the Singularity. But, because of the choices we have taken as a nation, this is now unlikely.
Debt is what brings life to the banks, while it is what brings death to everyone else.
Debt is the fictitious remedy for scarcity.
People, or governments, that use debt do so because they want NOW, what they only deserve to have LATER. Thus, the entire concept of debt is actually a violation of universal causality. Worse, it inevitably causes a reversal of the timeline. In otherwords, the EXCESS energy that everyone should have in the future (as a result of collective productivity), has been preempted by the beneficiaries of debt. Thus this places the lender into the future, whereas it places the borrower into the past -- inevitably causing a reversal of the timeline.
Had society not sold out to greed -- TAKING more than what one deserves at a GIVEN time -- Society would not have needed the invention of DEBT to get along. Debt is a TECHNOLOGY just like any other technology. It was invented by people known as MONETARY SCIENTISTS. Hundreds of years ago, these greedy psychopaths figured out a way to use mathematics to eventually enslave all of civilization after bleeding away its assets.
Is it any wonder that the largest debtor nation that ever existed -- the United States of America -- is one of the poorest nations in mathematical academics? You think this is just a coincidence?
If the citizens of the U.S. had made the choice to use capital formation (savings) to finance expansion, most of the excess productivity from industry could have gone into R&D and further expansion. The gargantuan increases in productivity as a result of intensively funded R&D, would have ignited an exponential curve of advancement because all of the money allocated to interest payments (and debt service) would have been available for R&D as well as expansion. It would have taken us longer to have arrived at a 1960s technology level, but by now, 2007, we would be at a technology level that we may not see even in 2050. As it is now, the criminal violators of the Constitution that came up with fiat money(1), have absorbed most of this expansion and wealth. They have thus preempted the long-term productivity of every man, woman and company in the nation, exactly as Thomas Jefferson warned they would do if the money supply were not backed.
If the American people ever allow private banks to control their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered. -- Thomas Jefferson
So there you have it. You have been suppressed and so has your Singularity. The people and agents that have duped you are the same people that are behind the Federal Reserve and all earlier central banks that rely on a) fiat money and b) fractional reserve banking. Remove these criminals from society and restore all monetary systems to free market systems (without the fraud of fractional reserve) and the COST of money will naturally decrease and productivity will increase exponentially. Temporal causality will restored and values will return because the energy of civilization will be allocated by democratic markets, not by a bunch of greedy administrators that sit on some Federal Reserve Open Market Committee.(2)
And since science and technological advancement run on funding, we will have a Singularity only after the invention of debt, and its parasitic consequences, are brought under control.(3)
(1) See the movie FIAT EMPIRE at http://www.FiatEmpire.com. Also see http://www.realityzone.com/creature.html
(2) This committee operates in secrecy as it doesn't publish its minutes until some time after the fact. Hardly an "open market" as its name deceptively implies.
(3) By saying the above, I am NOT saying that all forms of lending are negative. I am saying that only FRACTIONAL RESERVE LENDING and FIAT MONEY are negative. The practice of fractional reserve allows bankers to lend out money they don't have and the practice of fiat money allows the government to inflate the money supply beyond what's prudent. Both practices destroy the purchasing power of the money we all use. The lost purchasing power then accrues to an elite set of bankers who are involved in the schemes established by the monetary scientists many years prior.
21 November 2005
Revised 18 August 2007
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