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Everything Purchased Could Be 40 Per Cent Cheaper If Banks Were Nationalised by Michael Walsh

Most money in circulation isn’t real money; it is high interest digital credit. Most people are shocked to learn that bank interest now makes up 40 per cent of the cost of everything they buy. This was revealed by Margrit Kennedy, a German researcher. Bank interest is extracted at every stage of production of whatever we purchase. Like indirect taxation you don’t see it but it hurts the family budget. We would all be better off by 40 per cent if it were not for bank interest built into everything from building schools to visiting the hairdresser. Before you purchase anything, it goes from producer to distributor to retailer. The process throughout is dependent on a score of support mechanisms; transport, labour, materials, factory, storage, marketing etc. Each of these support services borrows to finance their operation; bank interest is loaded. By the time you take it home 40 percent of what you pay goes to the banks in interest repayments through that chain. For government funded projects, Kennedy estimates the average cost of bank interest to be 50 percent. Nationalise the banks, as did Adolf Hitler, and your $50 million public building costs just $25 million.

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