This will only take you a couple of minutes. The results might surprise you!
Which of the 9 statements below are TRUE and which are FALSE?
If a government wants to increase its spending it must either a) raise taxes, or b) borrow. TRUE or FALSE?
Responsible governments try to balance the budget and not spend more than they collect in tax. TRUE or FALSE?
Increasing international trade increases global prosperity. TRUE or FALSE?
Some day in the future, if we all work hard enough, the government will be able to pay off the National Debt. TRUE or FALSE?
The richest people are the biggest creators of wealth. TRUE or FALSE?
The money in your bank account is Legal Tender. TRUE or FALSE?
Rising houses prices are due to too many people seeking too few houses (supply and demand). TRUE or FALSE?
Commercial (too big to fail) banks are a necessary part of an economy. TRUE or FALSE?
Banks first need to have the money before they can lend it. TRUE or FALSE?
RESULTS . . .
If you believe ALL of the Statements above are TRUE - you have been financially brainwashed.
If you believe Only Some of the Statements above are TRUE - you have been partially financially brainwashed.
If you believe ALL of the Statements above are FALSE - there is no evidence that you have been financially brainwashed.
See below to find out why All These Statements Are False.
1. If a government wants to increase its spending it must either a) raise taxes, or b) borrow. FALSE. A government can legally create all the extra funds it needs without going into debt.
2. Responsible governments try to balance the budget and not spend more than they collect in tax. FALSE. In a debt-based monetary system, balancing the public budget shrinks the real economy and rewards the financial sector – the very definition of irresponsibility and betrayal of the majority by favouring the few.
3. Increasing international trade increases global prosperity. FALSE. International trade is financial warfare. Some nations / regions gain at the expense of others. As a competitive ‘race to the bottom’ , it depresses wages for the majority.
4. Some day in the future, if we all work hard enough, the government will be able to pay off the National Debt. FALSE. The UK National Debt was created in 1694 and has only grown since. Due to the nature of compound-interest, the debt can never be repaid, its burden will only grow (unless we change the rules of modern debt-based finance).
5. The richest people are the biggest creators of wealth. FALSE. The richest 1% in our society are wealth extractors - not wealth creators. Real tangible wealth is created by real tangible work and natural resources.
6. The money in your bank account is Legal Tender. FALSE. The money in your bank account is digital bank credit and only exists because you, or someone else, went into debt to create it. Only notes and coins are Legal Tender.
7. Rising houses prices are due to too many people seeking too few houses (supply and demand). FALSE. Rising house prices are a direct consequence of bank credit creation via mortgages. As banks create larger mortgages, houses prices rise to absorb the available credit - placing us ever deeper in debt.
8. Commercial (too big to fail) banks are a necessary part of an economy. FALSE. Commercial banks have grown like a cancer in our economy (especially since deregulation in the 1980’s). The activities of commercial banks drain our economy and need to be curtailed or dispensed with in order for our economy to regain health.
9. Banks first need to have the money before they can lend it. FALSE. Banks create money by lending it into existence – and then charging interest on this newly created money. Almost 98% of the UK money supply has been created through this deceptive activity.
Note: Although these facts are based on the UK Sterling pound zone, they generally applicable to all major fiat currencies in the world including USD and EURO
For more information on how the money system really works, and how it will continue to collectively impovrish us untill it is reformed, see: The brutal truth about money and wealth we are not supposed to know