The Parliamentary Paper of 1909 on the need for a peoples Bank...
High rates of interest rapidly increase the indebtedness of the people, their wealth is soon transferred to the few privileged capitalists who are enabled to control the rate of interest, and consequently the market value of Government bonds and property.
King O'Malley As wealth gradually concentrates in a few hands owing to high rates of interest, employment grows less and less, more men are thrown out of work, and with no wages are unable to purchase the produce of the farms.
In all ages of the world's history, high rates of interest have enabled the monopolies to gather the accumulations of the many without work.
High Interest rates are entirely unneccesary as the very nature of Banking allows tremendous profits to be realised without the need for excessive rates.
Collecting multiple Interests provides incredible profits at the expense of the community who collect equally incredible Debt.
