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January 30, 2008

Usury
by Ceri Shepherd

A system of feudal debt usury has been created by Wall Street and the City Of London over the last few years for most of the inhabitants of the western world and particularly Great Britain and America.

I am from Great Britain which by now should have been renamed Great Bankerland. Back about 120 years ago we used to put women and children down the coalmines, and we would work them for up to 18 hours a day, 7 days a week in conditions of absolute depravity. At the end of the week not only would they be paid pittance, if at all, but they were often paid in tokens to be used in the company shop.

As a nation we eventually gained a conscience and we passed laws to deem that although this was the free market at work, it was morally wrong.

Why can't I sell crack Cocaine to your children during their school breaks? I would make a fortune, many of them would provide me with a demand, and I would have the supply, the free market at work. Or maybe a slavery business? I cannot run my new free market businesses, and this is quite correct, because I would be a menace to society and it is morally wrong. This is an instance whereby we need a judgement over a free market.

Roll forward to 2008 in Great Britain an average house now costs £190,000 and the average person earns about £24,000 per annum. So it costs nearly 8 times the average annual earnings in Great Britain to afford the average house. You will lose approximately 25% of your average annual earnings in Income Tax and National Insurance contributions so you will be left with £18,000 or about £1500 per month in your pocket.

Assuming the usual 5% deposit to purchase the average house and a mortgage at the average of 7% it will cost you £1052 IN INTEREST per month to have a basic home.

JUST TO PAY THE INTEREST ON THE AVERAGE LOAN FOR THE AVERAGE HOUSE IN GREAT BRITAIN WILL TAKE IN EXCESS OF 70% OF YOUR TAKE HOME WAGE.

Please remember this is just the interest you are not actually paying any of the mortgage or "Death loan" back. This is usury and it is just as morally wrong as putting women and children down the mines, or selling crack cocaine to your children. It is also just as damaging to society as crushing debt load is one of the major factors in broken families and substance abuse, so it should either be outlawed or very strictly controlled.

Nobody minds working hard to achieve success for your family, that is the hope and dream of a free capitalist society, but is it right that the vast majority of your income needs to be handed across to greedy bankers to provide a very basic human right a home? Have the bankers earned this money?

The reality in Great Britain is that people work hard earning money in the real economy to pay usury payments to the new feudal lords and masters of our country the international investment Banks WHO DO NOTHING, PRODUCE NOTHING, AND ADD NO VALUE TO SOCIETY. These tribute payments consume just like they did in feudal times the majority of a persons income.

The City Of London and the Government are now acting like hardcore Communists and are trying to install some wacky form of command and control manipulated economy as their debt, deck of cards collapses. They are already nationalising one of the worst usury offenders Northern Rock these clowns were lending up to 125% of a properties appraised value!. The City of London want the big fat fees and profits and bonuses during the boom and they want pure Communism during the bust, they want the Government and the taxpayer to sort out the mess that was 100% of their own making, they took a business judgement to lend all this funny money, that was their judgement and theirs alone, if as time now proves it was the wrong judgement then they should bear the consequences.

Can you believe that they are now lowering interest rates which caused this very mess in the first place, in a desperate attempt to try and keep the bubble inflated !!. Our own Government is doing everything it can to keep the population in debt to the Investment Banks, as this we are told is the solution. Can it really be a solution to try and keep us all in as much debt as possible?

A far more elegant solution and far fairer solution would be for the very simple free market to work its time proven magic and mean revert. This would mean that people who have been sensible and saved can afford to buy a basic human right a home as prices fall. Those people who have taken on sensible mortgages would also be just fine. Unfortunately those who have not been very sensible with their borrowing and greedy speculators would receive a very valuable lesson in what happens when you buy into an overpriced illiquid market, using far too much margin. The merchants of Usury the Banks who lent this speculative margin would also get a hard lesson in basic risk and credit management.

The real tragedy of this orgy, this feeding frenzy of speculation that has existed over the last few years is the REAL ECONOMY which has now been so inflated that a whole new word has been invented to describe the inevitable effects to our industries, that word is called OUTSOURCING. The real economy has now been exported offshore to less inflated economies. We are left with crippling debt for vastly overpriced houses and a Government and financial sector hell bent on trying to keep this calamitous and desperate state of affairs going in a futile attempt to try and stop the market completing a natural mean reversion.

I am no Socialist that has a 100% historical failure rate, As Winston Churchill remarked "The tragedy of Capitalism is that the fruits of labour are unfairly divided, the tragedy of Socialism is that everybody gets to share the misery"

I believe in capitalism, the free market, initiative and innovation, together with sound money, balanced budgets, small Government, and true freedom for the individual if I was an American I would not hesitate to vote for Ron Paul. However the free market needs some basic rules otherwise we revert back to children working in the mines, and my proposed crack cocaine/slavery business would become a reality.

I suggest that the City Of London AND Wall Street mend their ways and fast, they are the minority and we are the majority. Major revolutions and change have always sprang from the disgruntled masses, who find themselves once again at this particular point in history lied and cheated to by the International Bankers, and their subservient lap dogs the British and American Governments. Maybe the time is rapidly approaching when we need something like our own Polish Solidarity to force real change on our own communists!

Ceri Shepherd
www.trendinvestor.info
http://trendinvestor.blogspot.com/

Copyright © 2004 - 2009 Ceri Shepherd

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