"Restoring the Mother Condition" - the Sumerian Phrase for a Cyclical Time Economy: Michael E. Hudson against exponential compound math

 Webinar with Michael Hudson: a 4000-year perspective on economy, money and debt

 Interest was brought to Greece and Rome by 750 BCE by Phoenician (Syrian) traders.

The doubling time of a loan was five years. Rome used the 12-based number system.

Creditors did not LEND out cattle or grain but rather lent out "time" as the New Moon - the debts were owned at the New Moon.

Silver = Grain equivalence with Silver as the Lunar currency!

fascinating. 

Without Kings as Tyrants to Cancel the Debts then you have the Aristocratic Oligarchy take over after the Democracy....

So the Oligarchs killed any popular leader tyrants that tried to cancel the debts.

So the Free Market Creditors took control - to "get rid of government power."

So the planning of the economy is by the banks now instead of the government.

We're not going to permit interest on debts but we will permit foreign exchange banks to do foreign exchange trading. so they can send money to the kings and nobility that are on the crusades - to outfit themselves, to buy food, they can lend against the land. So all of a sudden you have the Main Borrowers were not the poor peasants losing the land, they were the Rich Nobles. And the people they were borrowing from weren't civilian creditors, they were the Church - the main church orders themselves: The Knights Templar and also the Hospitallers. ... The poor could only borrow from the Jews...they couldn't borrow from the Christians. Only the rich people could borrow from the Christian bankers. You would have kings borrowing to go to war. You have to borrow because all wars are fought with foreign exchange because you want to fight the war on foreign soil.... So Silver and to a lesser extent Gold was the form of money.

 London and England were looted by the Italian bankers - give us your mines, give us your forests, give us your land, give us your money. Essentially the Kings outside of the Italy became Client Royalties to the Papal group that were funding them. Until finally, the French King decided to arrest all the Templars, kill them, accuse them of devil worship and grab all the money back.  The Kings kept their royal treasure in the temple... just as in Babylonia and Sumer - the savings were kept in the Temple.

 More of the Commons (the forests) were forfeited to the creditors....We'll create a monopoly (East Indian company) as a debt settlement for debts that could not be paid....

Economic Rent is UNearned income instead of profits.

The difference between Value and Price is Economic Rent, this UNearned income. You've got to restore the concept that NOT all income is EARNED. Some income is a transfer payment, it's parasitic.

 Because the Eurozone debt is limited to 3% that means the Pentagon controls Europe to keep the US Dollar as the Debt financing currency for the PetroDollar.

25 percent

At best, this simple “not elsewhere classified” approach to price movements suggests that speculation could account, at most, for 25 percent of observed oil price variations. The question has been subjected to more rigorous analysis in the form of structural vector autoregressive (SVAR) models.