So that was just an example, other products have had the same inflatory treatment. Everything is multiple times more expensive for Europeans, than before it was enforced. It is not like a local weirdness, but a statistical fact, a norm as they call it.
The rent too, the banks make big profits on keeping infrastructure expensive in order to claim having some real assets. Not some derivatives, shorts or such, Real Resources. So anyone who has a loan for a house does not own it. One missed payment, and bank claims it.
Debt slavery is more efficient than the old school one, before the slave masters were ordered to provide the basic necessities for the peons. Not anymore!
Exactly. I don't see this spoken about too often.
It is obvious why debt is such a big thing in Europe and the Western world. Everything revolves around it. You can pretty much get anything on credit starting from the education system.
Even before you get gainful employment you are already in debt, interest rates of over 5%, you will probably need a car, then you want a home and you have to get a mortgage.
Similarly countries like mine, Kenya, are indebted now more than before. A vicious cycle that we will probably never get out off due to the corrupt nature of the government which is why crypto is such a big deal over here and more notably in the populous nation of Nigeria.
Crypto is currently my safety net and projects like Hive and Leo alongside my freelance work are the reason why I am confident of a prosperous future.✊
One benefit of the cryptospace is, that communities can have all the economic tools to use for free, without the need of FIAT-currencies. Timebanks and such community exchanges are a way to work outside the old system, Now with tools for local direct democracy etc.
Thats why resource-based solutions are superior, but most just go with the one they are grown up in. A country cannot go bankrupt, so that "debt" is just an excuse to steal more. I had an experience where a "rich" Nordic country Finland was impoverished in few decades, gifting away the natural resources and polluting the waterways.
It is global trade, so the robbers work globally. Same mining companies destroying the nature, same food corporations have all the food, so far we have gone from something remotely intelligent 😄