Within a meditation I was asked to imagine having vast amounts of money and I could not do it. It simply did not feel right for me and this is why:
Who pays the interest if somebody has taken out a loan? This 'somebody' is maybe a craftsman and I take up his service. In order for the craftsman to pay the interest he adds it on the price for his services. So in the end it is the citizens paying for the interest. The interest costs are included in every daily payment like rent, clothes, food, etc. The settlement of the interest costs comes from real values. This is not considered within the money creation process.
Very simplistic example: Farmer A produces milk. Farmer B produces potatoes. Farmer A exchanges 10 litres of milk for 10 kg of potatoes from farmer B. Now the barter business is replaced with money.
Farmer A borrows 10 euros from the bank to buy carrots from farmer C. To be able to pay back the interest of 1 euro he must produce 11 litres of milk which he sells to farmer B hoping that farmer B wants more milk now. Otherwise farmer A must convince farmer B that it is a lot healthier to always drink one litre milk additionally from now on.
Growth is needed for the payment of interest. If we consider exponential increase rates in the compound interest system then at some point no more growth can be produced and the entire system needs a crash, or a war is needed. Everything gets redistributed. Maybe farmer A is expropriated after his work was substantially exploited because a good citizen must pay back his interest (compound interest). But then everything can start from the beginning except that the rich man is even richer now. This happens approx. every 80 years. Enough time so that the actual generation cannot remember the last reset any more.
Who profits from this system in the end?
Approx. 1% of humanity owns approx. 40% of the world property (in
the year 2000). And this 1% is not satisfied with having 40% but wants
to possess even more. It is entirely about power and rule. The richest
10% own 85% of the world property. 50% of the world population owns
only 1% of the worldwide property.
It is said that the interest income exceeds the interest expenses if one does have one million euros or more. This might be true or not but let us just guess the threshold was one million euros. As the folk saying goes it is the first million that is the most difficult to earn. Further millions are earned automatically then. We are told the money does the work for us then. But money never works it is always the people who raise the interest. It is always the entire society that pays in the end, or rather the ones who own less than a million.
How about imagining living in a system without money or at least in a system without interest and compound interest. A system where all people on this earth have at least so much that they can cover their basic needs like lodging, food, water, clothes, or mobility. Would this not mean a new form of wealth could originate from that?
A system where each profits from the wealth of the other one instead of taking away from others in order to have more than they do. Such a system can originate if it is considered in the consciousness of the people at least as a valid possibility. Our reality will sooner or later become a mirror.
But instead we are programmed to hold on to profit and competition thinking. Growth at all costs. The brainwashing lets us respect millionaires: 'Wow, this person made it. I want to be like that'.
Of course we all want to get to a place where we have safety, freedom, independence and a lot more, briefly we all want to live in abundance. However, do we get there if we take away things from others, are envious, or greedy?
No redistribution of wealth or income e.g. by taxes, can balance the ill system. Within such an ill system there is always hatred, envy, avarice, injustice etc. No matter how it is redistributed the interest will always be missing. We need a complete system reboot.
We might want to start with such a new system within our consciousness peacefully. Peace is the only way which promises lasting change. A war can never be peaceful. That is a contradiction in itself.
If more and more people share this philosophy than it is a matter of time until the system has to follow and reflect that thinking.