While I try to untangle the webs of mystery created by bankers over money matters, I always try to stick to well qualified sources of information. This writer does not appear to meet that test. However, based on my current studies of money matters and the influence of Stephen Zarlenga on his views, I feel that he knows a lot about the subject. Moreover, in contrast to most writers on this bankster-obscured subject, he writes in a language that ordinary people can understand.
Since 97% of the money in the world is created from debt, any loans paid off decreases the amount of money in circulation. And when no further loans are given, the circulating money stock falls dramatically, adversely affecting businesses and the economy at large. This intentional reduction of the money supply leads to widespread business failures, high unemployment, foreclosures on property, and severe hardship within the community. On the other hand, great wealth is transferred from defaulting borrowers to the banksters. It is an act of gross criminality and systematic fraud.
