{"id":2954,"date":"2016-12-07T00:00:00","date_gmt":"2016-12-06T11:00:00","guid":{"rendered":"https:\/\/ourplanet.org\/don-richards-our-parasitic-banking-system-makes-its-money-by-getting-people-into-debt\/"},"modified":"2023-05-11T19:15:31","modified_gmt":"2023-05-11T06:15:31","slug":"don-richards-our-parasitic-banking-system-makes-its-money-by-getting-people-into-debt","status":"publish","type":"post","link":"https:\/\/ourplanet.org\/greenplanetfm\/don-richards-our-parasitic-banking-system-makes-its-money-by-getting-people-into-debt\/","title":{"rendered":"Don Richards: \u201cOur parasitic banking system makes its money by getting people into debt!\u201d"},"content":{"rendered":"
Each time a bank makes a loan, it essentially creates money as debt. <\/strong>\n<\/p>\n This system results in problems such as increasing levels of household debt and inflating property prices.<\/p>\n It ensures a rapidly widening income gap.<\/p>\n In New Zealand we are allowing our children to go into debt slavery!<\/p>\n First they have student loans; then they may have a mortgage, and then they are expected to save for their retirement.<\/p>\n If we continue with this system we will fail as a society.<\/p>\n In this interview Don Richards, co- founder of Positive Money New Zealand, talks with Lisa Er about the problems and the solutions.<\/p>\n