How can a country be sovereign if their government must borrow money to pay their bills? Worse yet, in order to create money the State must go to the central bank and pay interest for every new currency that is created out of thin air. The two key elements that explain the absurd foundation of the global debt pyramid are simple, 1) Fractional Reserve Banking. 2) Legal Tender Laws. Central Banks are owned and controlled by private interests. The interest they charge governments needs to be paid with new money that is created into existence by an accounting entry, again at additional interest.
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