The New Economic Disorder
Posted 10/27/2008 3:19 PM EDT on democratandchronicle.com
I just finished rereading The New Economic Disorder written by Larry Bates, who is a former bank president as well as former legislator from the Tennessee House of Representatives. Mr. Bates' book offers much insight into the monetary problems that we are suffering from today. Although the book was written in 1994, it reads like today's headlines.
One of the first things that Mr. Bates points out to the reader is his own difficulty that he had in understanding how the economy works, despite the fact that he was an economics major in school. "I can truthfully say my own biggest obstacle to understanding economics was my formal training in it." This is not surprising when you are taught that the economy is supposed to function on several natural laws. The truth is, according to Mr. Bates, "The peaks and valleys, booms and busts in the economy...all those "opportunities to profit"... are actually the result of deliberate policy actions by policy makers in the government and the Federal Reserve. Simply put, there is a small group of people in this country and around the world who have the resources and the power to determine the direction our economy will take. They choose which investments will prosper and which will fail. That's how they transfer wealth out of your pocket, while knowing where the next profits will occur enables them to put the same money in their pockets."
I have known this for a very long time. I choose to call these people the "Illuminati". I realize that you have probably never heard of this word before but under the circumstances it may be worth looking up.
Mr. Bates goes on to say in reference to the Federal Reserve inflating the currency and increasing the money supply with new money and credit, "This is nothing more than a system of bondage that keeps the borrower always in debt to the bankers because of a dishonest system of banking, money and credit."
The Bible says it best. "The borrower is servant to the lender" (Proverbs 22:7)
The book gives a very interesting example of how compound interest works in relation to regular interest.
"One dollar loaned out at the time of the birth of Christ at 3% compound interest would be a debt of $19,342,814,713,834,066,795,298,816. At 6% interest, it would be $2,075,564,540,495,770,000,659,356,622,933,159,968,008,080,198,784. At simple interest, the interest would be$59 and $118, respectively."
Are you beginning to get the picture yet?