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commodity sales to over-use their fragile soils, thus turning land to desert . The production base of other developing world areas suffers similarly both from local failures and from the workings of international economic systems. As a consequence of the 'debt crisis' of Latin America, that region's natural resources are now being used not for development but to meet financial obligations to creditors abroad. This approach to the debt problem is short-sighted from several standpoints: namely, economic, political, and environmental. It requires relatively poor countries simultaneously to accept growing poverty while exporting growing amounts of scarce resources. Inequality is the planet's main 'environmental' problem; it is also its main 'development' "problem." (20) By now according to Mr. Herrhaus, manager of the largest German bank (Deutsche Bank): "the structure and dimension of the problem defies traditional problem-solving techniques." (21)

Figure 9 Growth of the GNP in the FRG Between 1950 and 1989 Those who operate the present money system know that it cannot last, but either do not know or do not want to know about a practical alternative. Figure 9 gives at least one explanation. Compared to the Gross National Product and the increase in debt, the banks have earned a disproportionate share of the national wealth. This is in part connected with lower interest rates which offer better profits for banks, but also to the increased speculation with money, leading to an increase in brokerage fees. The bankers with whom I have discussed this issue did not know of the alternative. After I explained it, they often felt that they could not pass the knowledge on without endangering their jobs. Banks 23

Margit Kennedy (!) - Interest and Inflation Free Money  

Copyright 1995 by Margrit Kennedy) (Published by Seva International; ISBN 0-9643025-0-0; 1 2 LIST OF FIGURES:..................................

Margit Kennedy (!) - Interest and Inflation Free Money  

Copyright 1995 by Margrit Kennedy) (Published by Seva International; ISBN 0-9643025-0-0; 1 2 LIST OF FIGURES:..................................

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