From the website Links Page which will soon be phased out as this blog takes over that function:
“In Europe during the Middle Ages – the 10th to 13th centuries – local currencies were issued by local lords, and then periodically recalled and reissued with a tax collected in the process. Again, this was a form of demurrage that made money undesirable as a store of value. The result was the blossoming of culture and widespread well-being, corresponding exactly to the time period when these local currencies were used.
Practically all the cathedrals were built during this time period. If you think about what is required as investment for a small town to build a cathedral, it’s extraordinary.
The question arises: with similar currencies, what would the cathedrals of the 21st century look like?“
Margrit Kennedy famously established that 45% of prices are related to capital costs. The more capital intensive an industry is, the higher this percentage becomes and no industry is more capital intensive than construction.
The incredible facts are these:
1. In construction a whopping 75% of prices are related to costs for capital. Meaning that if we buy a new $100,000 home, $75,000 is lost to banks and other financiers.
2. When we buy the house with a mortgage, we will not only pay $100,000 for the house, but an additional $150,000 in interest over 30 years.
3. So we pay a total of $250,000 for a house that actually costs no more than $25,000 to build.
The case against Interest can be no clearer than this. We get absolutely nothing in return for all this money.
http://www.youtube.com/watch?feature=player_embedded&v=q7HMt5MgsDg#! The Crime that is the Canadian Banking System. Every citizen should watch this!
The Case against the Bank of Canada. http://comer.org/index.htm The Committee on Monetary and Economic Reform.Press Release of their case last year: http://comer.org/content/COMER_CourtCasePressRelease.pdf ; The Court Filing: http://comer.org/content/COMER_CourtCaseFiling.pdf
Related video: http://www.youtube.com/watch?feature=player_embedded&v=TN2USVC6QYQ Also: http://pressfortruth.tv/ a Canadian alternative media site, on which we find a 12-year old Canadian ‘patriot’: http://www.youtube.com/watch?feature=player_embedded&v=4YaDD3Dx0FA
Related: http://www.youtube.com/watch?v=iiHC-sRD_t4&feature=related “Oh Canada, our Bought and Sold out Land!”.
All this (unfortunately) is all too relevant to a humble organic baker’s blog because part of the reason local food production, especially from the family farm, has been virtually destroyed by the modern economy, is because the credit system in place favours large, para-local, para-national organisations – aka corporations – over small, individual and local enterprise. Moreover, the huge burden for all this is on all of us – from the interest debt, including both that generated by governments and that generated by large multinationals who can mount multi-million dollar operations with basically no money down, driving the little guy under.