11 Choosing the right track
11 Choosing the right track
Let me use the “ Modest Proposal ” for strategic considerations .
11.1 On state debts crises
State bonds are no capitalist credits but usury money granted by moneylenders in pre-capitalist , medieval times . A bank normally grants loans after having been convinced of the profitability of the business it is assigned for . By subscribing for government bonds finance institutes grant funds without asking what they are meant for as long as they get security for the return of their money plus due interest payment . Without being asked or noticing the working tax paying population is misused as security . Every single citizen is burdened with a considerable sum of money . His future income is also pawned to overseas investors , centres of international finance power , or private banking syndicates . The peoples have to pay annually huge sums of interests out of the state budgets to private debtor corporations . This tax money has been raised to pay for the costs to organize the community of the citizens and administer the public life , not to end on the accounts of big banks and rich investors . The “ normal ” high state indebtedness is a specific method to additionally enrich the rich at the sub-classes ’ expense . The level of state debts is held high by repaying due bonds by new ones . In times of crisis , if the gross domestic product and tax revenues shrink and unemployment rises paying back old loans or replacing them by new bonds results inevitably in austerity policies .
It is essential to realize : The peoples are not answerable for oligarchical nation states ’ governments issuing state bonds and for nation states ’ debts . They can ’ t be made responsible by pseud-democratic procedures and a phoney national “ WE ”. A policy to phase out state debts is reasonable . Those who have perpetuated the debt situation and profit from it have to be called to account : Banks , their lobbyist stooges , their politician addressees and interest groups ; those to whom was paid the people ’ s money for interests ; and also those institutions and interest groups that implemented a currency that chases economies into debt traps ; those privateers who profited from tax evasion and tax exiles , those major enterprises and multina-
57