Europe and it's individual countries have been enjoying the US taxpayer paying for most of their security for the last many decades. I've long thought that the US should only have a few strategic bases in partnership with the host country and that would go a long way to help spending being cut in the US. However, Europe's version of socialism would cost significantly more if they had to foot the bill for defense that currently the US is paying for and has for quite a while.
(Red colorization mine.)
The 50 years of war left England in financial ruin. The government officials went begging for loans from guess who, and the deal proposed resulted in a government sanctioned, privately owned bank which could produce money from nothing, essentially legally counterfeiting a national currency for private gain.
Now the politicians had a source from which to borrow all the money they wanted to borrow, and the debt created was secured against public taxes.
You would think someone would have seen through this, and realised they could produce their own money and owe no interest, but instead the Bank of England has been used as a model and now nearly every nation has a Central Bank with fractional reserve banking at its core.
These central banks have the power to take over a nations economy and become that nations real governing force. What we have here is a scam of mammoth proportions covering what is actually a hidden tax, being collected by private concerns.
The country sells bonds to the bank in return for money it cannot raise in taxes. The bonds are paid for by money produced from thin air. The government pays interest on the money it borrowed by borrowing more money in the same way. There is no way this debt can ever be paid, it has and will continue to increase.
If the government did find a way to pay off the debt, the result would be that there would be no bonds to back the currency, so to pay the debt would be to kill the currency.
(Red colorization mine.)
“Tax revenue” is a form of collateral for the loans provided to governments by central banks.
