Ebony Bennett (The funny business of inflation CT 17/2/24, p.26) says corporate profits contributed far more to Australia’s rise in inflation than wages and other employee costs.
Inflation is NOT “funny” & wages & other employee costs DO NOT contribute to inflation at all. They are solely a consequence of DECREASES in the value (purchasing power) of bank issued fiat currency.
Letters Editor,
Ebony Bennett (The funny business of inflation CT 17/2/24, p.26) says corporate profits contributed far more to Australia’s rise in inflation than wages and other employee costs.
Inflation is NOT “funny”!
Moreover wages and other employee costs DO NOT contribute to inflation at all. They are solely a consequence of DECREASES in the value ( i.e. purchasing power) of fiat currency (i.e. pretend money) that is excessively issued by banks.
Australia’s Treasury refuses to do its primary job which is to issue real money and currency backed by the full faith and credit of the nation. Instead it criminally grants to privileged corporations the exclusive right to PRETEND to create and issue virtually all of the nation’s money (actually fiat currency) AND to charge interest on that counterfeit currency.
Inflation results because banks charge interest on their counterfeit fiat currency BUT never create or issue any fiat currency to pay the interest they demand that their clients must pay for the imaginary “money” they pretend to lend. THAT means there’s never enough of the banks’ ’imaginary money’ in circulation to enable “borrowers” to pay back their so-called loans PLUS interest. To keep their PONZI scheme going the banks MUST issue ever more loans for ever larger loan amounts because if they don’t the system collapses because of insufficient fiat currency being in circulation.
Eventually the system collapses anyway (usually within 50-55 years) because the population cannot afford to take out and repay with interest any more fraudulent bank loans. These systems last about 50-55 years before collapsing. The current system started in the US in 1971. It is collapsing NOW.
References:
https://ronchapman.substack.com/p/cosmic-consciousness-and-its-energetic
https://ronchapman.substack.com/p/cashless-society
https://ronchapman.substack.com/p/there-are-two-ways-to-conquer-and
Sincerely
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