Our monetary system is based on credit or debt, and without constantly continuing issuance of debt, the whole thing falls apart. Our system of ‘fractional reserve banking’ gives commercial banks a licence to literally create money out of thin air – and then charge interest on the money they created. Fractional reserve banking is the cause of spiralling debt.
The biggest public campaign has started to abolish fractional reserve system. Visit POSITIVEMONEY website and JOIN the CAMPAIGN!
In case of Greece it was because gov borrowed too much ?? I always thought that Greece is in crisis coz they lied about their public finances (critical budget and debt along with enormous corruption level). That's the reason why they are in economic problems on the top of this they even didn't know how much do they actually owe.
Just the mere thought of the EU crashing makes me smile :). We may once again be a self determining sovereign nation as we have been for over a thousand years :) happy days!
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Pref4n 3 months ago
Our monetary system is based on credit or debt, and without constantly continuing issuance of debt, the whole thing falls apart. Our system of ‘fractional reserve banking’ gives commercial banks a licence to literally create money out of thin air – and then charge interest on the money they created. Fractional reserve banking is the cause of spiralling debt.
The biggest public campaign has started to abolish fractional reserve system. Visit POSITIVEMONEY website and JOIN the CAMPAIGN!
PositiveMoneyUK 7 months ago
I'm so glad that the UK avoided joining the Euro. Things are tough here now, but it'd be even worse if we'd joined.
paulph12002 8 months ago
In case of Greece it was because gov borrowed too much ?? I always thought that Greece is in crisis coz they lied about their public finances (critical budget and debt along with enormous corruption level). That's the reason why they are in economic problems on the top of this they even didn't know how much do they actually owe.
streetway00 1 year ago
Just the mere thought of the EU crashing makes me smile :). We may once again be a self determining sovereign nation as we have been for over a thousand years :) happy days!
eyeswideopennimrod 1 year ago 3