The manifest for refraction of the interest servitude of money
with explanations provided
Dipl. – Ing. Gottfried Feder
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1 9 1 9
Publisher Jos. D. Huber, Diessen in front of Munich.
The manifest for refraction of the interest servitude of money . . 5
Execution and Justification . . . . . . . 10
The conversion of the war loan into bank balances . . . . 38
Special explanations for the legal requirement in the manifest . . 40
The objections and their refutation . . . . . . 46
Another Program . . . . . . . . 61
The manifest for refraction of the interest servitude of money.
The greed of money rule is the severe, all encompassing and rampant disease, from which our current world culture, indeed the whole of humanity, suffers. It is like a devastating plague, like a devouring poison that the peoples of the world have taken.
Under the greed of money rule means:
On the one hand, the international forces of finance capital, which towers over the right of self determination of nations, enthroned on state financial violence, the supra-national all powerful capital, the only golden international;
On the other hand, a state of mind which has seized the widest circles of the population, instilling the insatiable greed of acquisition, focusing all effort on the worldly directed outlook on life, having already led to a frightening sinking of all moral notions that will only persist.
Embodied and taken to the extreme this state of mind is driven within the international plutocracy.
The main source of strength of the greed of money rule is the effortless and endless flow of assets, which is created by the interest.
Out of the thoughtless and utterly immoral interest lending is born the golden international. From the greed of interest and usury of every kind, the moral and mental decay of society has led to the frightening emotional stagnation of the middle classes.
The utterly immoral interest lending is the diabolical invention of big lending capital, it makes possible the slow acting drone life only for the minority of all powerful money men at the expense of the creative people and the work force, it has led to deep irreconcilable contrasts, to the class hatred from which the civil war and fratricidal war is born.
A single cure which is the radical means to the recovery of the suffering of mankind.
The breaking of interest servitude of money
The breaking of interest servitude to money represents the only possible and final liberation of creative work from the secretive and tremendously destructive financial powers.
The interruption of economic servitude is a restoration of the free and independent working class, the peoples redemption from the enslavement, from the magic spell, in which the soul was caught by the greed of money rule. He who wants to fight against finance capital, must break the enslavement of interest servitude.
Where does the interruption of interest enslavement start? With loan capital.
Because the loan capital is so powerful compared to all major industrial capital that the major financial powers can only be affectively combated by completely shutting off the interest enslavement of loan capital. 20:1 is the ratio of loan capital to fight major industrial capital. More than 12 billion in interest on loan capital must the German people apply each year in the form of direct and indirect taxes and increases in the cost of rent and food, while even during the boom years of the war, the total of all profits from German companies was only 1 billion.
Possibly exceeding all human calculation, is the avalanche-like growth of the lending capital by the eternal, endless and easy flow of goods from interest and compound interest.
What blessings now brings the breaking of interest servitude for the working people of germany, for the working people of all countries of the earth?
The breaking of interest servitude gives us the ability to pursue the abolition of all direct and indirect taxes. Listen to it, people of all countries, of all states and continents, all the wealth flowing from direct and indirect sources of state revenue are flowing entirely into the pockets of big lending capital.
The income from state owned enterprises, upon being restructured and denied to international theft from the nation, are sufficient to fund all state functions necessary for upbringing, education, justice, administration and social welfare.
So long as all “true socialism” will not bring blessings to mankind, as the proceeds from the public service enterprises against the major lending capital remain tribute.
Therefore, we first require a fundamental law of the german peoples, then as the fundamental law for all those brother peoples who wish to enter into a federation of national cultural community with us, the following:
1. The war bond debts, and all other debt of the German Empire, and all other debt of the German Federal States, in particular railway bonds, and also the bonds of all the self-governing bodies be declared by cancelling the obligation to pay interest to legal tender at their nominal amount.
2. For all other fixed income securities, mortgage bonds, corporate bonds, mortgages etc. takes instead of the interest obligation, the obligation to repay; adversely 20 or 25 years is thus repaid the borrowed capital, depending on the amount of interest and the debt extinguished.
3. All real estate debt, mortgage, etc. will continue to be paid back by the registered in the land registry in installments. In this way the corresponding assets owed on house and land ownership is partly owned by the state or local government body. In this way, the state is in a position to determine the rental rates or to lower the rates.
4. The entire monetary system is under the central treasury. All private banks, likewise, the postal funds, savings banks and credit unions are to be affiliated as branch operations.
5. All real credit is awarded only by the state bank. Personal and commercial credit is left to the private banks under state license. Concession. This is issued in consideration of the need to question and prohibit the establishment of branches for particular finance houses. The fees shall be set by the state.
6. The equity securities ground repaid in the same way as the fixed securities at annual rates of 5%. the excessive profit returns will be in part paid as compensation for “risked capital” (in contrast to the fixed interest and gilt-edged secure papers) to the shareholders, while the additional surplus will be used by the right of independent workers distributed either socially or to reduce the prices of the products.
7. For all persons who are not viable for physical reasons (old age, disease, physical or mental capacity, the large youth groups) to earn a livelihood, the former possibly increased savings income from existing capital assets are, as annuities, to continue to be paid against delivery of the securities.
8. In the interest of dismantling the existing inflation with a general means of payment a highly differentiated recovery of assets was made, the pieces were rendered in war bonds or other debt securities of the Empire or States. These papers are scrapped.
9. Through intensive public enlightenment and a clear explanation to the people that money is nothing and is only an instruction in one’s work; that every highly developed economy’s use of money as a medium of exchange is necessary, but that money also has the adverse function to satisfy greed and therefore the money may be allowed by the interest, in no case a supernatural power, to grow out of itself at the expense of creative work.
Because we have forgotten how to see clearly into our greed for money delusion that the doctrine of the “sanctity of interest” is a tremendous self-deception, that the “gospel” has ensnared the only true blessed-works of labor, interest lending has involved our whole thinking about the golden networks of the international plutocracy. Because we have forgotten and have been kept studiously out of the supreme money powers, with the exception of a few money princes, the taxes of the people are purely eaten up by the interest. Our whole tax legislation remains as long as we do not have the exemption of the interest liability servant, only to pay tribute to the big lending capital, but not what we sometimes imagine as voluntary sacrifice to the achievement of collaborative work.
Therefore, the exemption from liability of the servant of the interest payment, the clear solution of the world revolution for the liberation of creative work from the bonds of supranational financial powers.
Translated by Mike Strobach