Why do we need credit????

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I'm miffed, I have been do much research recently in to how finance and the economy work. I find it all very farcical, and the question begs why do we need credit? Currency that is traded on the open market is fiat currency, it has no commodity backing it and therefore in effect is worthless. It is only given worth by the trading and the fact that we choose to accept it. The acceptor creates the value not the producer. Credit can only be created with a signature, your signature, until you signed the contract those zero's did not exist. Also it isn't necessary for them to actually have the "money" to cover your "loan". Every heard of the matching principle? The matching principle allows the organisation to record that loan as an actual asset, not future money or monthly money as you would expect. That means then they can lend the money you just created to someone else. We also have the fractional banking rule at play allowing them to multiply this up to 9 times. I have had my UK building society confirm that they use both of these Generally Accepted Accounting Principles (GAAP). It's a license to print money so to speak! So where does the money come from to pay them back? If there wasn't the money in circulation in the first place then there is in effect no debt either. As we can only use a promise to pay (yep that bank note) then why is it acceptable? Again if our governments borrow money (generally on a glit system), they are asked also to pay interest, hold on a sec haven't we just been there? Where do they get the extra to pay the interest. Once upon a time a glit was only payable in precious metal(yes that stuff that use to back our money, money of commodity). Remembering that the banks (private organisations) print the notes, so why would they want those back? So surely lending is what creates the problem in the first place? Having more pretend money in circualation drives up the price of goods, or if you look at it another way actually devalues the note in effect. What concerns me is the bail outs going on over the world, the phrase is tax payers money. This money is used by the banks to pay off the bad investments they have made, that is the private investments they have made, not our failed debt payments. The question on my lips is my mortgage company has received millions and more, so why would I or anyone still owe anything on this said debt if they have been bailed out with our money? Hold on again there one second, we didnt have money for the hospitals or the schools, the roads or any public service we would expect to be upheld, but we suddenly had lots of tax payers money to give to these organisations. If my debt isn't going to be wiped out by these "cash" injections, then where is my share certificate so I can start earning from these organisations? I personally feel they saw profit without thinking of the future, so why don't all these high earners, bonus takers and CEO's dig in to all that "cash" they've taken and prop up their own mistakes? Btw CASH is just another accounting term, nothing else, do check it out. We do not need credit folks, we need a proper system that allows a balanced market to allow everyone to live how they should and not been enslaved to work for something that doesn't exist and cannot ever be repaid. The only thing left in a fiat currency that has any worth is our labour, we all have the ability to trade our labour and use a commodity based monetry system to everyones advatange so no one has to suffer, no one should have to to work all the hours sent to receive nothing but intrinsically valueless paper. If anyone has the mind too Ludwig Von Mises The Theory of Money & credit is available on google books, if you only read the chapters on money you'll find it interesting enough. http://www.econlib.org/library/mises/msTContents.html There's also a great paper I found at harvard http://www.wcfia.harvard.edu/node/571 Also I think that the reason why these organisations have no thought of the future is generally because the are of limited liabilty, what does that mean they can close and write everything off on a whim! Also when the bank illegally sells you debt to another organisation they get to loose all the debt, clearing their accounting and they then record the small amount they make from doing this as a profit! Remember your contract was with the original provider, the contract cannot be transferred without your permission. Wow why the double edge sword???? I really could go on but hope other with raise some good comments to carry on the dicussion. Good or bad it's always great to hear what others have to think.