Feder Gottfried - The Manifesto for the abolition of enslavement to interest on money

Author : Feder Gottfried
Title : The Manifesto for the abolition of enslavement to interest on money with explanations provided
Year : 1919

Link download : Feder_Gottfried_-_The_Manifesto_for_the_abolition_of_enslavement_to_interest_on_money.zip

The Manifesto for the Abolition of Enslavement to Interest on Money. a. What is Mammonism? b. What is the cure for Mammonism? c. The nine points of the Manifesto. Implementation and Rationale 1. Because of failed promises of the German Revolution of 1918 the people are tending more and more toward Bolshevism. 2. The German folk are sick with Mammonism. 3. Mammonism derives its power from interest on loans. 4. The way to cure Mammonism is by abolishing interest on loans, especially war-bonds. 5. The vast majority of Germans holding war-bonds really lose money because of them, because they have to pay taxes to cover the interest payments; only the largest holders of war-bonds have a net profit from them. 6. Germany’s real wealth consists not in any material assets but in the productivity of the German people. 7. If the obligation to pay interest on public debt were ended, the Bavarian state could abolish all direct and indirect taxes and fund itself entirely on the revenues from state-owned industries. 8. Interest-payments are the reason why the state cannot do without taxes; those receiving the largest sums of interest pay relatively little in taxes. The Reich is financially in a much worse situation than the federal states. 9. Comparison of the affluent bondholder, the working-class bondholder, and the dependent bondholder. Expansion of social welfare for the dependent bondholder after cancellation of interest. 10. Instead of repaying the principal of war-bonds under cancellation of interest the state could simply declared the bonds to be currency. 11. For other fixed-interest assets, including mortgages, repayment under cancellation of interest is recommended. This should solve the housing problem. 12. A history of opposition to interest-slavery. a. Curtailment and prohibition of interest before the 19th century. b. Enshrinement of interest under the developing global order during the 19th century. c. Cancellation of interest will dissolve the interestcommunity within Germany and enables the German nation to unite against the Gold International. The Conversion of War-Bonds into Bank-Credit. Rather than simply declare war-bonds to be currency, a better idea is to require that they be surrendered for conversion into bank-credit. Special Comments on the Demand for Laws in the Manifesto. Elaboration of the nine points. The Objections and their Refutation Objections from various perspectives are addressed. a. Three objections based on a failure to comprehend how conditions would change under abolition of interest-slavery. b. A question from the perspective of a large bondholder. c. How is depriving investors of interest supposed to help the worker? d. What about the importance of inheritance in holding families together? e. Three objections from officials of the current system. f. The Communist complaint that abolition of interest will not abolish economic inequality. g. Social-Democracy is doomed because it is based on Marxist ideology, which does not recognize the radical difference between industrial capital and loan-capital. Social-Democratic government, as a moderate application of Marxism that fails, paves the way for Communism. h. The contemptible bourgeois and two objections from the bourgeois perspective. Won’t abolition of interest adversely affect savings? No. Is big loan-capital really not in some way productive? Only labor is productive. Further Program. a. Abolition of interest-slavery is the prerequisite for establishment of the social state. b. Reconstruction of the German state according to the true spirit of socialism. c. Liberation of the entire world from Jewish control. ...

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