The banking system in science fiction

Science fiction  and fantasy books are often based on day to day realities extraploated in the future or on other planets. Most of the science fiction books deal with technological aspects, and only a few with the social ones, and even  less with financial issues. The main arguments are that technology is cool, or magic for fantasy books, while finance is boring on one side, and on the other one predicting social future is more difficult than predicting technology.
As in the book, here on Earth,  the financial system is taking slowly over our society.
In the 2012 edition of Occupy Money released this month, Professor Margrit Kennedy writes that a stunning 35% to 40% of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35% to 40% cut of our gross domestic product.
That helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get progressively richer at the expense of the poor, not just because of “Wall Street greed” but because of the inexorable mathematics of our private banking system.
This hidden tribute to the banks will come as a surprise to most people, who think that if
they pay their credit card bills on time and don’t take out loans, they aren’t paying interest. This, says Kennedy, is not true. Tradesmen, suppliers, wholesalers and retailers all along the chain of production rely on credit to pay their bills. They must pay for labor and materials before they have a product to sell and before the end buyer pays for the product 90 days later. Each supplier in the chain adds interest to its production costs, which are
passed on to the ultimate consumer. Kennedy cites interest charges ranging from 12% for garbage collection, to 38% for drinking water to, 77% for rent in public housing in her native Germany.
Her figures are drawn from the research of economist Helmut Creutz, writing in German and interpreting Bundesbank publications. They apply to the expenditures of German
households for everyday goods and services in 2006; but similar figures are seen in financial sector profits in the United States, where they composed a whopping 40% of US business profits in 2006. That was five times the 7% made by the banking sector in 1980. Bank assets, financial profits, interest, and debt have all been growing exponentially.
http://atimes.com/atimes/Global_Economy/NK14Dj01.html

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One Response to The banking system in science fiction

  1. isabel says:

    It is not only in the science fiction books. Discussions about the banking system is gaining levels everywhere. News and scientific articles or science fiction books, all of them are good to spread information about what happens in our financial systems.

    Completely soon after Q3 craziness we get a bit of a available promptly with regards to story. Hopefully you will captured the main trend such as financial system influence in society. Exponential growth is unsustainable. In nature, sustainable growth progresses in a logarithmic curve that grows increasingly more slowly until it levels off. Exponential growth does the reverse: it begins slowly and increases over time, until the curve shoots up vertically. Exponential growth is seen in parasites, cancers . . . and compound interest. When the parasite runs out of its food source, the growth curve suddenly collapses. We are the food source so we will collapse.

    Bankers rule the world. It is not a fantasy but the Swiss Federal Institute of Technology study says so. It is an article written by Stefania Vitali, James Glattfelder and Stefano Battiston, and it is titled “The network of global corporate control.” Basically what the article is saying is:

    “We find that transnational corporations from a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic ‘super-entity’ that raises new important issues both for researches and policy makers.”

    The study says 147 powerful companies control an inordinate amount of economic activity – about 40%. Among the top 50, 45 are financial firms. They include Barclays PLC (called most influential), JPMorgan Chase, UBS, and other familiar and less known names.
    Twenty-four companies are US-based, followed by eight in Britain, five in France, four in Japan, and Germany, Switzerland, and the Netherlands with two each. Canada has one.

    Moreover, “top ranked” companies “hold a control ten times bigger than what could be expected based on their wealth.”

    As a result, they have enormous influence over political, financial, and economic activity.

    http://www.globalresearch.ca/bankers-rule-the-world-the-network-of-global-corporate-control/28235

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