Surviving Capitalism (Not) : Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Thursday, August 5, 2010

Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia

by Ellen Brown from Global Research.

Ellen Brown is a very good source of information in order to clear up the contrived mysteries of banking and money perpetrated by private banking interests. For further information about this subject I recommend her book, Web of Debt. Although I don't agree with everything she writes in that book, I believe she is entirely accurate when she sticks to the topic of banking.

President John Adams is quoted as saying, “There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” The major conquests today are on the battlefield of debt, a war that is raging globally. Debt forces individuals into financial slavery to the banks, and it forces governments to relinquish their sovereignty to their creditors, which in the end are also private banks, the originators of all non-cash money today.