Bankism: The Unseen Force Wreaking Havoc On Our WorldApril 7, 2022
On nearly every block, in every city, you’ll find a bank. They’re everywhere. One might initially think, “how convenient!” However, the saturation of banks throughout our communities is also an indication of how banks are involved with every aspect of our lives; it represents a growing reliance on the products that banks sell, which is debt. We all live in a debt driven economy run by and for the benefit of banks—what I call Bankism.
Some might think Bankism has been around for a long time, so how bad could it be? Let’s notice that banks may be responsible for a short-term burst of progress. However, as debt payments come due, progress slows down even more than the debt hurried things up.
But debt is like that shiny object that people can’t avert their gaze from; it’s the new houses, streets, and businesses built on the loans (debt) doled out by these banks. It seems like it’s worth it—after all, look at how easy it is to use a credit card. But discern a little more critically and you will see people working longer hours, households needing two incomes, and parents providing housing for their kids into their thirties. What’s even worse is that there really aren’t any choices in this Bankism environment; not using debt is a bad idea. Interest rates are so low that getting a mortgage can be financially beneficial.
Debt is used to acquire everything from cars, to houses, to billion-dollar businesses. Governments rack up debt nationally and locally. The problem is that this debt increases the cost of living so that people must work harder and harder to get by. The harder they work the fewer kids they have. The higher the debt, the lower the birth rate. It also means that millions of children go to bed without food, which stunts their growth and prevents them from ever reaching their potential.
Debt is also how housing is built. But it’s built for people who can get a mortgage, meaning housing today is built for wealthy people. So, if poor people can’t afford housing, it only makes sense that homelessness persists.
Bankism also controls the job market. If inflation sets in, interest rates are raised to stifle inflation by reducing the demand for employees. This means people get fired and lose their jobs. In other words, poverty is a permanent feature of a debt-driven economy. Who is responsible for the poor?
That job is left to the government. And the only way the government can pay for taking care of these people is either through higher taxes or taking on further debt from banks. Well, taxpayers hate taxes because they already have enough bills as it is, and the rich who can afford high taxes already pay the vast majority of taxes and can easily claim they are not getting their money’s worth. Meanwhile, banks love issuing debt, as that’s how they make money. So, debt winds up being the only option left to a politician who wants to be reelected, and this is not actually a choice at all. With Bankism, there is no choice.
It’s a vicious cycle, a vicious system; one that is all-pervasive. Every time a person uses money, the banking system controls every aspect of the transaction yet is hardly seen or noticed. It is the cause of the rise in cost of living while income and standards of living stagnate. It is the reason governments are so overwhelmed with debt. It is the reason our leaders seem to have no effect on things like global warming or even healthcare and its laundry list of issues, including cancer, diabetes, and obesity. And it is the reason we all feel so handcuffed in our daily lives.
We’ve all been convinced that this is how it must be. The truth is that’s not true. Learn about the solution to the greatest challenge humanity has ever faced which is Bankism. Knowledge is power that can put an end to Bankism.