Leave it to a banker who steals the deposits of its customers and then has the arrogance to call it a "haircut." It has been reported in the various media that if Greece doesn't refinance their debt, that the banks will have no choice but to give its customers a "haircut" of 30%. So, the people who worked hard for their money, being responsible for their own financial well-being will have to pay for the failures of the banking system. And the failures of all of the modern banking systems are self-evident. This is one of those evil features of communism as the bankers want people to pay for their screw-ups.
The worst mistake in modern banking is the use of usury or interest. This practice has always been considered stealing, and being true to form, these bankers are planning to steal the depositors monies
because they want someone else to pay for the banks failure to practice intelligent money management. All banking systems as we know them today are extremely flawed and the continual charging of interest is completely unsustainable. While I'm not an economic expert, I do understand that the charging of interest doesn't work and it always produces instability. That, along with uncontrolled spending by government always leads to financial chaos with boom and bust cycles.
Central banking is a communist-socialist idea
Since all governments in the western civilization are essentially communist in nature, we can see that without competing currencies, it is the bankers (moneychangers)who control the world's political leaders. These leaders must always bow down to the bankers in order to get anything accomplished.
In the Communist Manifesto, we see the following: Fifth Plank: Centralization of credit in the hands of the State. Most countries of the world have this kind of system and there's little to no competition by having alternative currencies. Even the founders of the "government" of California saw the threat from banking. In the Constitution of California 1849, we see the following: Sec. 34. The Legislature shall have no power to pass any act granting any charter for banking purposes; but associations may be formed, under general laws, for the deposite of gold and silver, but no such association shall make, issue, or put in circulation, any bill, check, ticket, certificate, promissory note, or other paper, or the paper of any bank, to circulate as money. Sec.35. The Legislature of this State shall prohibit, by law, any person or persons, association, company, or corporation, from exercising the privileges of banking, or creating paper to circulate as money.
What most people miss is the whole point of communism. Communism isn't for the "people." Communism is an organized monopoly which steals the resources from the land and from the people. Communism eliminates competition and establishes a monopoly wherever it can. In observing the history of communist governments, we can see that they have no problem in committing genocide in order to get their way with people. And in the case of Greece, they have no problem stealing 30% of their depositor's money in order to pay the phony debt. A good portion of that debt is accumulated interest that is impossible to pay off.
A "haircut" is an euphemism for grand theft. This is no different than going into a bank and the teller pulls a gun on the customer and then steals his money. This idea of a "haircut" is like amputating someone's body parts. Since the money in these accounts reflects the time and effort of the people who earned it, it is an abomination to steal that money from them. And I believe that this is one of the reasons why the people who wrote the California Constitution of 1849 made banking as we know it today illegal. But this shows the futility of government itself as it can't stick to its own "laws." Of course, they were also trying to protect the gold and silver trade which was a major economic factor in the early days of California. But the lesson here is to understand is that governments are not capable of providing free and fair trade or a peaceful society. The government is the problem and not the solution. No one can really argue otherwise. Abuses will always come from banking as we know it today and it is banking that causes most of the world's problems.
Elimination of usury-interest is essential for a prosperous economy
Not only should interest be forbidden in any economy, the central banking system needs to be changed so that competing monetary systems will be able to provide alternatives for all of the transactions. There should be no central banking system because we can see that it doesn't work. Of course, those who try to make this happen usually wind up in prison or they are assassinated. Those people who have viable alternative ways of providing an alternative money system are persecuted because they threaten the monopoly. So the next time you go get a haircut think about the people in Greece who are having their savings taken from them.
Walter Allen Thompson is the author of The Grace of Repentance: Keeping God's Commandments