Debt Traps - There is a reason why you should care...

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Simon Dixon here and welcome to one of our accompanying videos for Chapter Two of my book 'Bank to the future'.

The book combines fiction and nonfiction and takes you on a time travelling journey through real life financial events that we learn from to fix our broken financial system.

At the same time we learn how to protect our future on this journey without boring you to tears with financial jargon written for anybody to enjoy and understand.

So what is the debt trap?

There are three little known facts about banking that have grave consequences in terms of economic stability, equality and sustainability.

There is a reason why your country has taken on huge debt on your behalf for you or your children to repay.

There is a reason why you pay so much tax.

There is a reason why you have to borrow more to buy your house than your income may be able to support.

There is a reason why everything feels expensive to you right now.

There is a reason why people you know, companies started by your friends and family, countries you live in and your government are struggling to pay their debts.

There is a reason why they try to pay off debt by taking on more debt.

There is a reason why the economy fluctuates and is never stable.

There is a reason why our economy crashes when banks decide it is time to stop lending.

There is a reason why banks are 'too big to fail'.

There is a reason why your money is pooled with billions in taxpayers' money in order to bail out banks.

There is a reason why banks make so much money.

There is a reason why some bankers get paid such huge bonuses even after a bailout.

There is a reason why the developing world is stuck in poverty.

There is a reason why money is made available to create 'weapons of mass destruction' and to drill for more oil when alternatives exist.

There is a reason why laws are being created across the world to make it easier to take your money deposited at a bank as was recently the case for Cypriot people through bank bail ins.

There is reason why our financial system is inevitably and predictably guaranteed to crash.

And there is a reason why you should care.

In fact there are three reasons.

Firstly, when you deposit your money with a bank, the bank becomes the legal owner of your money.

Secondly, when they becomes the legal owner of your money they spend it as they wish by deciding who they issue loans to.

Finally, banks create money. 97% of all money in our economy has been created as debt by a private bank.

We were delighted to see the Bank of England confirm this in a recent YouTube video for the first time in over 300 years and even more delighted to see the IMF investigate the consequences of these facts leading to a historic articles by Martin Wolf in the Financial Times.

In Chapter Two of 'Bank to the Future', we investigate our debt trap in detail and how it affects you.

Welcome to the debt trap and enjoy the chapter. Order your copt here:

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