| Pay The Piper! Call The Tune!
by Elan (12/22/2011)
The debt-money system generates serious problems. One of these is that private banks can create only the amount of the loan; they cannot create the money needed to pay the interest on that loan. There is never, therefore, enough money in the system. This makes growth imperative. The system must grow or die. Debt and the interest on debt grow faster than money and income because debt is the only way to create new money. If the money supply cannot keep up to the cost of debt and interest, the economy will stall. When the burden of debt exceeds the capacity of debtors to pay, or the willingness of lenders to lend, the system must fail. |  |
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| | Our Enemy, the State
by Albert Jay Nock (10/01/1935)
Originally published in 1935, this elegant essay on the nature of the state shows the important distinction between state power and social power. "Every assumption of power, whether by gift or seizure," Nock writes, "leaves society with so much less power; there is never, nor can be, any strengthening of State power without a corresponding and roughly equivalent depletion of social power." | |
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