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                "Réflexion sur le prêt à intérêts"
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                "Quelque soit le système monétaire utilisé, il convient de bien réfléchir au problème du prêt à intérêt. Si l'intérêt dépasse le taux de croissance de la masse monétaire, nous sommes dans un cas où il faut récupérer plus d'argent qu'il n'en est créé, ce qui peut s'avérer mécaniquement impossible à réaliser, indépendamment de tout niveau de production ou d'échange."
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                "Regardless of the monetary system used, it is right to think carefully about the problem of loaning with interest. If this interest exceeds the money mass growth rate, we are in a case in which we must recover more money than is created, what can prove mechanically impossible to realize, independently of all production and exchange levels."
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                "Si une zone économique autonome mais non-isolée, dont la monnaie locale a été alimentée via un prêt à intérêt inital, se voit ensuite arbitrairement privée de la création monétaire associée, alors la demande du créancier est de rendre plus de monnaie qu'il n'en existe localement. Ces cas sont des conditions de faillite forcée."
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                "If an autonomous but not insulated economical zone, whose local money was fed through an initial loan with interest, and then sees itself arbitrarily deprived of the associated money creation, then the creditor's demand is to give back more money than there locally exists. Those cases are conditions of forced bankruptcy."
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                "Par exemple en France en 2010, quoique la masse monétaire ait augmenté de 8 % / an de 2000 à 2007, (7 % entre 2000 et 2010 du fait de la contraction 2007 - 2010), le taux de 22 % / an d'intérêt est un taux légal, applicable en sus aux citoyens les plus éloignés de la création monétaire, donc les moins susceptibles de pouvoir rembourser. C'est la condition suffisante pour provoquer des faillites personnelles."
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                "For instance in France in 2010, thought the monetary mass increased by 8% per year from 2000 to 2007, (7% between 2000 and 2010 due to the contraction 2007 – 2010), the 22% interest rate is a legal rate, furthermore applied to individuals who are the most remote from the money creation, so the less susceptible to be able to pay back. This is a sufficient condition to cause personal bankruptcy."
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                "Mais par ailleurs prenons le cas d'un taux de croissance monétaire global de 7 % / an, avec cette monnaie supplémentaire qui n'est pas symétriquement allouée au sein de la zone, mais uniquement au bénéfice des émetteurs centraux et de leurs affiliés au centre de la pyramide de Ponzi globale. Un taux d'intérêt local de 5 %, pourtant inférieur au taux de croissance global, sera, dans ce lieu éloigné de l'émission, supérieur au taux local de croissance monétaire qui ne sera par exemple que de 1 %. Alors il s'agit là à partir du moment de l'acceptation de ce prêt, d'un cas de décroissance locale de la masse monétaire de 5 % - 1 % = 4 % / an, conduisant à une déflation locale, et donc à des faillites forcées, indépendamment de toute notion de production et d'échange de valeur."
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                "But let's also take the case of a global monetary growth rate of 7% per year, with this additional money which is not symmetrically allocated within a zone, but only benefiting to central transmitters and their affiliates in the center of the global Ponzi pyramid. A local interest rate of 5%, although lower than the global growth rate, will be, in this remote place of from the emission, superior to the local money growth which will be for instance of 1%. Then it is at the moment of acceptance of this loan, a case of local decrease of monetary mass 5% - 1% = 4% per year, leading to local deflation and so to forced bankruptcies, independently from the notion of all production and exchange of values."
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                "On pourrait se dire que celui qui accepte le prêt devrait en évaluer les tenants et les aboutissants, et qu'il lui incombe d'évaluer son « risque », sauf qu'il se trouve en face d'un système Bancaire qui a lui l'accès à tous les comptes, et à des données financières globales. Il y a donc un accès asymétrique à l'information, qui permet que l'un prenne l'avantage sur l'autre. En fait l'avantage de l'émetteur de monnaie est incommensurable par rapport à l'emprunteur. Le premier a toute l'information et tout le pouvoir de la modifier, le second n'a ni l'un ni l'autre."
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                "We might think that whoever accepts the loan should evaluate the ins and outs, and it is his responsibility to evaluate his “risk”, except that he is behind a Banking system which has access to all his accounts, and to global financial data. So, there is an asymmetric access to information, which allows one to take the advantage over the other. In fact the advantage of the money transmitter is immeasurable compared to the borrower. The first has all the information and all power to change it, the second has neither one nor the other."
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                "Avec un Dividende Universel transparent, la croissance long terme de la masse monétaire étant connue et dense dans l'économie, le taux d'intérêt fixe d'un prêt monétaire (d'une monnaie préalablement accumulée par le prêteur) ne saurait excéder légalement le taux du Dividende Universel afin d'avoir l'assurance que les conditions générales permettent d'en payer capital et intérêts. Si le « risque » s'avère démesuré pour le prêteur, la solution n'est pas d'augmenter le taux d'intérêt au-delà des conditions maximales requises, mais de prêter moins ou pas du tout."
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                "With a transparent Universal Dividend, the long-term growth of the money supply being known and dense in the economy, the fixed interest rate of a money credit (of a previously accumulated money by the lender) should not legally exceed the Universal Dividend rate in order to have the insurance that the general conditions used to pay principal and interest are met. If the “risk” proves excessive for the lender, the solution is to not increase interest rate beyond the required maximal conditions, but to loan less or not at all."
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                "À minima ce devrait être aussi le cas dans tout système monétaire. Le taux d'intérêt d'un prêt ne saurait excéder légalement le taux de croissance de la masse monétaire. Sans cela il est clair que les conditions ne sont pas remplies pour être certain qu'il est possible de rembourser un prêt à taux supérieur, et de tels contrats devraient être déclarés logiquement irrecevables."
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                "At the very least this should also be the case in every monetary system. The interest rate of a loan can not legally exceed monetary mass growth rate. Without this, it is sure that conditions are not filled to be certain that it is possible to refund a loan at a superior rate, and such contracts must be logically declared inadmissible."
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                "Il est logiquement aberrant que la Loi n'interdise pas d'émettre des prêts à un taux d'intérêt supérieur au taux de croissance de la masse monétaire."
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                "Le même raisonnement que sur le prêt à intérêts, implique que l'impôt ne peut globalement PAS excéder le taux de croissance de la masse monétaire, sauf à donner à l'État une prérogative intenable sur l'initiative individuelle."
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                "The same reasoning than the one on the interest loan, implies that tax can NOT globally exceed the monetary mass growth rate, except if one wishes to give the State an unbearable prerogative over individual initiatives."
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                "Cela signifie que dans une économie à Dividende Universel les représentants de la collectivité, pour financer des projets collectifs par l'impôt doivent faire leur estimation en se basant sur le nombre d'individus gérés, et connaissant le facteur de croissance monétaire :math:`c` n'en prenne au maximum qu'une fraction globale la plus faible possible « f ``×`` c ». Pour le reste l'État devrait se financer par la vente libre des biens et services qu'il produit, et ne pas s'endetter au-delà du raisonnable étant donné le flux normal de revenus qu'il est censé obtenir."
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