Thursday, 2 June 2011
Land is expensive because of the banking system
Inflationary banking enables people to get a mortgage (to purchase land) when otherwise they would not be able to do so, provided they are willing to ‘owe’ money to the banks. This devalues all other forms of money because it becomes subsequently more difficult for those who do not take out a mortgage to purchase land, they must pay a higher price. So then, land is expensive mostly because of the banking system.
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