Brazilian Republic, 117 years; alienation or development?
Benjamin Franklin in his
"A Modest Enquiry into the Nature and Necessity of Paper Currency" (1729)
he demonstrated for his contemporaries and the posterity that a state is ridicule to take loaned money, having been he himself charged to print pounds at Philadelphia.
Another old observer wrote:
The national indebtedness that is, the alienation of the state (...) it has printed its mark in the capitalist age. As for the touch of a magic pole, [ the public debt ] it confers to the barren money capacity to multiply itself and, with this, it transforms it into capital, without the necessity of that it exposes itself to the problems and non-separable risks of its aplication in the industry or even in usury.
The creditors of the State, they do not really yield nothing, therefore the loaned amount is transformed into public headings, easy to negotiate, that they can continue functioning in their hands as the sounding money would do itself.
Hidden under the mantle of the service and the refinancing of the internal debt, almost five hundred billion Reals (near 200 billion american dollars) had been transferred in 2006, from the social sectors that pay taxes (preponderantly the wage-earners), for bankers. This comes happening year after year since “age FHC”.
So that the reading friend has an idea:
service of the internal debt (Interests and amortizations) 205.849.725.418,00 *
refinancing of the internal debt 285.164.251.806,00 *
hospital and ambulatorial attention in the only system of health 18.883.300.358 *
PSDB of FHC and Aécio Neves created this terrible situation…Until when it will persist?

* Brazilian Senate: siga.senado.gov.br/siga/scripts/login/webiHome.jsp