Breaking the Bondage of Interest













Usury is the “Hidden Hand” in history. It is behind wars and revolutions, booms and busts, and the travesty termed “poverty amidst plenty.” It causes civil wars and class wars. Many problems of the world could be resolved with clarity once the dust the money-lenders throw in one’s eyes is removed. The financial system is the means by which power politics functions at all levels.

As one historical example of the “hidden hand” at work: How many Anglophobic Irishmen understand the real reasons for the “potato famine”? Henry Kelliher wrote that anecdotes were told to him of the harrowing starvation of the Irish. It was subsequently that he found the Irish famine was the result not of over-population, as claimed at that time among some quarters – nor even due to food shortages, since it was only the potato crop that failed. In 1845 (while the famine was to claim the lives of 1,029,000) 779,000 quarters of wheat and flour, 93,000 quarters of barley, and 2,353,000 quarters of oats – enough to feed for a year every person who died of starvation, nearly four times over – were exported from Ireland.[24] Kelliher commented:

When the true story of Ireland is written it will be found that all that stood between starvation and the available plenty, was the crushing interest burden that had to be paid to outside money-lenders, that the country was not suffering from famine, but from what we choose today to call “depression.” A famine is the absence of food caused by a lack of food; a depression is the absence of food caused by a lack of food, caused by a deficiency in the medium of exchange – money.[25]

How many are aware that a major cause of the French Revolution, the epochal event that was one of the first victories of Money Power over Tradition, was caused not by the masses yearning to overthrow the tyranny of Monarchy, but by the economic dislocations caused by debt, when 50% of state expenditure went to pay interest to money-lenders? And so we might continue, up to the present: how much of the aggravation between Islam and the West is caused (apart from the betrayal of the Arabs dating back to the Balfour Declaration and the Sykes-Picot Agreement) by the aim of international finance to control the Islamic world, where usury is regarded as “sin,” as it once was by Western Christendom? Remove the “Hidden Hand” of usury and once the perspective becomes clear, issues might be resolved with justice between many that are presently at each others’ throats while the real culprits remain invisible.


I was aware that debt was instrumental in the downfall of the French Monarchy, I haven’t before thought about the influence of money power, interest, and usury in relation to the Irish Famine. If so, people like Gerry Adams, Martin McGuinness should be hating international finance, not the English. It seems to me that our main enemy is the banks. Almost every evil thing can be traced back to the shadowy group of obscenely wealthy men, who sit in vast palatial piles, served by swarms of servants, indulging in every perversity one can imagine, and they manage to do this by accruing money from everyone else in the world. Whether it is states that borrow and then dump the interest payments on the taxpayers, businesses who are encouraged to take massive loans to expand, or just average people who are encouraged to take out mortgages, credit cards and loans. All of these things increase the wealth of the money lenders, and increasingly leads us into deeper poverty.

It is now common knowledge that the Russian Revolution was due in large part, to external funding of various revolutionary parties. Large Wall Street and City of London bankers loaned money to the newly established Soviet state, and the banks continued to fund the Soviets throughout the Cold War, right up to the end. It amazes me how people didn’t see this, how the McCarthys who were trying to root out communism in America couldn’t see their own government lending vast amounts of money to the Soviets.

We know that Germany and Japan rejected the powerful bankers in the thirties and were destroyed. Perhaps their economic policies were only a small part of the reason for war, but I can’t imagine it played no part at all. It was these same banks who profited from the blood bath of the Great War, they made money from every war since, huge amounts of money, they have indebted almost every nation in the world, they have indebted many individuals as well. And when they make their obscene profits, they hoard the money, when they lose, as they did four years ago, they make us pay again! So we use money, much of it borrowed from the banks at interest, and we bail out those very same banks with the very same money, we lend it at no interest, and then have to figure out how to pay back the trillions we borrowed to bail the banks out, to the very same bailed out banks.

They issue their own bailout money and we have to pay interest on it! How crazy is that? How absurd!

The banks need to go.

I like the idea of Social Credit, it seems a way in which we could use money, without drowning in debt and usury, perhaps when the inevitable happens, when the economy completely implodes, perhaps something like Social Credit can be used to restore the ruins of our economy .

We Don’t Need Banks

One of the stated reasons for bailing out the banks in 2008 and 2009 was that we could not allow the banks to go under as it would cause too much damage to the world economy and lead to the bankruptcy of millions of businesses. Well, they were right, many businesses survive due to bank loans, they have a lot of business at Christmas or during the summer and scrape by the rest of the year, but did they really care that much about those seasonal businesses?

No, they were panicked. They were terrified that their world was about to end, that the banks would cease to be and that their funny money would become useful only as toilet paper or fuel. The banks are an essential part of the world as is it today, they print money, much more than any central bank, they endebt our people with false promises and control our leaders by buying them off. They pour money into political campaigns and then give retired politicians nice sinecures after retirement, Tony Blair being a prime example. This is in effect a bribe, although it is a bribe after the fact.

The power that banks wield is too much for any man or any group of men, it is the proverbial ‘ring of power’, just as in Tolkien’s work, no matter how good one is, no matter how good one’s intentions, the power of the ring moulds the ring-bearer to its own will. In the case of banks that can print infinite amounts of money, every bank will go there, because every other bank does it and makes enormous balance sheet profits. The power of the banks is dangerous, no man, bank or government should possess this power.

Now, what do normal people need banks for? They need somewhere to keep their money, they sometimes need a loan and that is about it. Considering that the banks are ripping us off at the moment, do we really need them? They are giving us almost no interest on our money, even though they are lending at upwards of 14% on some loans, and on credit cards they are charging considerably more.

Why not set up our own institutions? Why not have credit unions or co-operatives that will remain small and where each depositor is in effect a shareholder? With these institutions we could influence the investments made, make more in interest on our money and when necessary take out small, reasonable loans to invest in our businesses. We could even have credit cards, with very low limits, say £500 or so. With each town or neighborhood having its own credit union or co-operative, the big banks would soon become nothing more than the government sponsored Ponzi schemes that they are, when they collapse, we will still have our money.

The problem is that many people believe it is normal to be in debt to the tune of hundreds of thousands of pounds, they think nothing of taking out a few grand to go on holiday, or to buy some new fancy car, or to put many thousands on their high interest credit cards, the economic chaos that surrounds us is as much our fault as the banks, although the banks share a larger part of the blame in my opinion. However we need a change in attitude, we need people to stop thinking of loans and credit cards as free money and we need people to regain their common sense. It wont happen this side of a default or a run on a currency or the collapse of the banking sector, but it will happen. Then perhaps the idea of small, local and prudent institutions may become more popular.

We don’t need banks, we should not want them, as they are a cancer in our societies, we can’t put up with them for much longer and, inevitably they will, for the most part fail anyway, and when they do we should welcome it and start anew.