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The Crisis Legislation on the Promissory Notes
international |
worker & community struggles and protests |
opinion/analysis
Saturday February 09, 2013 18:36 by Caoimhghin Ó Croidheáin
Promissory Notes to Government Bonds The recent bonds-for-notes overnight legislation Austerity is a sham. Debt is economics for the ‘little people’. If the people produce the wealth then why are they always poor and/or paying back debts? Because the national and international wealthy lend us back the money (with interest) they have taken out of society in the form of profits to fill in the gap they created in the first place. Thus we are triply exploited: We are taxed on wages, alienated from wealth created (profits) and we pay interest on the money borrowed from the wealthy to pay for the capital and current expenditure needed for the maintenance of society. |
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