Banks need Boundaries! Banken in die Schranken!

Petition:
Banks need Boundaries!

Anyone with less than 300,000 euros is on the losing side of our current monetary system.

Some successful companies have huge stockpiles of cash, but most are now so far into debt, that when you shop for goods and services, about a quarter of what you pay accounts for hidden interest payments. This money is funnelled to the top tenth of the population as workless income. You need over 300,000 euros before you receive more interest than you pay.

Summary: anyone with under 300,000 is losing out!

This alone increases the poverty gap. Every year, this cleft between rich and poor widens, with more and more money in the hands of a shrinking minority, versus growing debt bearing down on the many. This mechanism inherent to the system is criticised by many renowned money theorists and/or initiators of alternative regional currencies. It is time for politics to hear their wake-up call, instead of following advice from the banking lobby. There's no point in trying to keep a failed system on life-support through massive taxation. This system was dead on arrival. And when it's too late, we all lose – even the rich!


adapted from banken-in-die-schranken.org

(banken-in-die-schranken.org is running a version of the banks-need-boundaries "franchise" in Austria as a genuine "Volksbegehren" within the traditional political system. - mk)


Further reading:
Is interest the problem?
Inequality
And from our blog: What is workless income?

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