In the following table, I have ranked the countries in terms of the average amount paid between 2006 and 2010. As you can see, the $952 billion figure that I calculated as an average value is my previous post is seriously below the actual numbers for each of the four years from 2006 to 2009.
Here are the numbers. Enjoy....
Again, it's the USA that wins the competition. They provided no less than $312.6 billion in interest payments in 2007. Don't forget that the US Treasury could perfectly well print money interest free, as Abraham Lincoln did when he printed $450 million in Greenbacks during the Civil War. In other words, the $312.6 billion can be thought of as a racket in which the banks extort money from US taxpayers.
But the most eye-watering figures are the total value of the interest payments for all the 119 countries in the table. This value exceeded $1 trillion in for every year since 2007 where it peaked at over $1.1 trillion. Anyone care to guess what has happened in 2011? Given that the markets are now charging Eurozone countries like Greece over 27% interest, I think we can safely say that the numbers are going to be well over $1 trillion a year and climbing.
Now do you see why all governments are having to impose massive austerity on their populations? Given that a trillion dollars a year is being sucked out of the economy every year (and sent to private accounts in offshore taxhavens?), it is not surprising that 99% of the population is struggling.
The solution? Take the power to create money away from commercial banks, and use central banks to create the money governments need directly, and without interest. The first thing to do would be to create enough central bank money to allow all governments to pay off their loans. If the central banks offered the same low rates offered to commercial banks, this massive siphoning operation would end. And, in fact, the central banks could perfectly well offer zero interest rates if they so wished. No more austerity. No more ratings agencies. A return to sanity.
It really is that simple.
Is there a politician out there who wants to win the next elections? You know what to do....