2 Aug 2012

The top 50 countries for per capita interest payments on Government Debt

I've been having fun going through the World Bank data on Interest payments on Government debt. I've already found that since 2007, more than $1 trillion is paid every year to banks in the form of interest charges. This is paying interest on money that the commercial banks create out of thin air, lend to governments at virtually zero risk, and then charge interest for doing nothing.

It's a complete con.

To round off my analysis, I took the average payments for the period 2006-2010 and coupled  the figures with the numbers with the World Bank's own population figures for 2010. That allows me to calculate the per capita cost of bank interest charges on government debt. Here are the top 50 (out of 118 countries for which numbers are available).

And the winner is....... Italy!!
Yes, every man woman and child in Italy is currently paying nearly $1600 a year to the banks for lending their government money that they create out of thin air.
But citizens of Cyprus, Iceland, Belgium, Greece, Israel and Austria all manage to fork out more than a $1000 each for the banks. Very generous.

Other countries including France, the USA, the Netherlands, Denmark, the UK and Canada are all paying over $800 per head.

But I think a very special mention should go to the population of St Kitts and Nevis who, despite their very small size, nevertheless manage to hand over $850 a year to the blood sucking vampire squids. They should get some sort of medal.

If your country is also in the list then it means that you too are being ripped off by what could easily be the biggest scam in the history of civilisation. Remember, there is absolutely no reason why governments should be paying commercial banks to create the money supply - governments could be creating the money supply directly and without debt.

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