RESPONSE TO BLACK MONDAY — Business Spectator’s ARTICLE, AUSTRALIAN BANK TO SHOCK WALL STREET
While on some accounts it is wise of National Australia Bank to cut losses ahead of other world banks, obviously, as NAB is in the same business, and as that business can only multiply debt in proportion to a circulation as we are forced to maintain a circulation by re-borrowing principal and interest as subsequent sums of debt, perpetually increased so much as periodic interest… just the same then, National Australia Bank’s business engenders the same consequences within Australia.
Because interest multiplies debt in proportion to a circulation, any purported economy subject to interest ultimately terminates itself under insoluble debt. As we saw from the beginning, the issue in the United States is not “sub-prime mortgages,” but that “interest” inherently and irreversibly destroys credit-worthiness by imposing ever more unserviceable sums of debt.
Which then is the horse; and which is the cart?
The only solution to inherent multiplication of debt in proportion to a circulation is mathematically perfected economy: See our article, Probability and Timeline for World-Wide Economic Collapse as a Consequence of Interest.
RELATED EXTERNAL ARTICLES
- businessspectator.com.au, NAB will shock Wall Street, 12:40 PM, 25 Jul 2008
“To find the players in all the corruption of the world, ‘Follow the money.’ To find the captains of world corruption, follow the money all the way.”
mike montagne — founder, PEOPLE For Mathematically Perfected Economy™, author/engineer of mathematically perfected economy™ (1979)