Henry Ford once said, “It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Are you confused by all the talk about monetary policy, fiat money and inflation? You’re not alone. Bankers and politicians have worked hand in hand for many decades to obscure their activities from the public. They hide behind elaborate structures designed to inflate the money supply while creating the false impression that they are looking out for our best interests.
Inflation is a very simple concept to understand: More money = less value. It may seem contradictory but it’s very straightforward.
For illustration purposes, join me on a brief journey of the imagination. One beautiful morning, you wake up and realize that you own twice as much cash as you had just last night. Magic money elves entered your home and bank account and simply doubled your entire cash assets. You’re now twice as wealthy (or half as poor as the case may be).
But you soon realize that the same thing happened to everyone else in the country. The money supply (total amount of money) has doubled! It’s just a one-time event and your regular income remains the same… you just got lucky this one time. It’s okay to dream, so stay with me.
What happens next? If you’re like most people, you probably start spending. You buy things you always wanted to buy but couldn’t afford. You pay back some debts. You buy stocks. In other words, you put the new money into circulation. So do most other people in the country.
Demand for many products increases because a lot more people can afford them now. Consumers are buying so much stuff that some shortages occur. To protect themselves against these shortages, shops and businesses decide to increase their prices. They know that once prices go up, fewer people will be competing to buy the same products, and the situation will be back to normal.
As a side effect of these higher prices, shop owners start earning higher profits than usual. They have more money in their bank accounts, which allows them to increase their spending. They will invest in new stock or expand their business. They might pay out dividends to their investors and bonuses to their employees, allowing these people to buy more products as well. This additional demand puts even more pressure on other shops to increase their prices.
A few months later, prices of almost everything have gone up. Suppliers and manufacturers are faced with the same threat of too much sudden demand from their clients so they too decide to start charging more.
You went on a one-time buying spree and look what happened! Your income stayed the same, but after a few weeks you can suddenly no longer afford the products you used to buy all the time because all prices in the economy have gone up.
Naturally, you demand a higher salary from your employer. If you’re self-employed or in business, you have to charge your customers more money just so that you can maintain your standard of living. Everyone else is in the same situation. Higher prices keep spreading throughout the entire economy, and it’s getting more and more difficult to make a living.
Can you see how this lucky one-time incident which at first seemed so exciting was extremely harmful not just for you but for the entire country? You briefly had a good time but now you’re worse off than before. In our story there are now twice as many dollars in circulation, but your income remains the same and each dollar you earn is worth only about half as much as it used to be. You’re really hoping for those money elves to come back.
As a matter of fact, some people, companies and banks have managed to develop an inside connection to the “money elves”, allowing them to receive new money into their bank accounts whenever they want to. The money is officially a loan (credit), but they know they never have to pay it back… they just “roll it over”, i.e. take up even more debt. With all that easy money in their accounts, and after hearing on TV that stocks only go up and that real estate prices will continue to rise forever, they tend to get a bit lightheaded and start making bad investment decisions. They know that if anything happens to their investments they will be bailed out by the government, so they do not hesitate to take huge risks with their new found “wealth”.
Let’s stop dreaming and look at the reality of things. What if I told you that these “money elves” do exist and that they spring into action not just once in a lifetime, but every couple of weeks? And that they repeatedly give money to their closest friends, but not to you? That prices are going up because the total amount of money in circulation increases, but that you’re missing out on all the fun?
Well, that’s inflation at work. Who benefits from inflation? Only those who are at the top of the pyramid and receive all that new money directly from the source. As you might have guessed by now, the source is the Federal Reserve, and its recipients include the government which “borrows” a lot of new money each year, without any intention of ever paying it back. Another beneficiary these days are failed banks that are being “bailed out” for the good of the “economy”, or defense contractors that receive money to build up our military so we can have a constant presence all over the world and fight never-ending and unnecessary wars. There was even a huge number of small-time beneficiaries who received consumer loans and sub-prime mortgages they would never be able to pay back.
What, then, is fiat money? It’s exactly what we just talked about: money that can be inflated or increased at the push of a button at the say-so of a powerful person or organization. Nowadays most dollars are just blimps on a computer screen and it’s extremely easy for the Federal Reserve to create money out of thin air whenever they want to.
If our money were backed by gold and silver, people couldn’t just sit in some fancy building and push a button to create new money. They would have to engage in honest trade with another party that already has some gold in their possession. Alternatively, they would have to risk their lives and assets to find a suitable spot to build a gold mine, then get dirty and sweaty and actually dig up the gold. Not something I can imagine our “money elves” at the Fed getting down to whenever they feel like playing God with the economy.
As you can see, inflation and fiat money are very seductive and beneficial to those at the top, and very dangerous to everyone else and the nation as a whole. That’s exactly what Henry Ford was talking about. He knew that every country that relies too much on fiat money is ruined sooner rather than later.
There is only one possible solution to the inflation problem: Stop creating money out of thin air. But we’re already in such a mess that the only way to have a real impact on the money supply is to increase interest rates so that people pay back their loans and borrow less money from the banks, which decreases the amount of money in circulation. However, higher interest rates might very well crash the economy. So the Fed’s current “solution” to overcoming inflation is… creating even more of it.
Fiat money is a dangerous addiction. Even if the Fed found a way to stop inflation, as long as the current system persists the temptation will always be there to resume pushing the easy money button. That’s why we need to get back on the gold standard and eliminate the Federal Reserve altogether.
But that won’t happen “before tomorrow morning”, as Henry Ford said, or even this year. Ron Paul believes that the first step towards monetary freedom is to allow open competition in currencies. Once gold and silver are allowed as legal tender and can be sold without sales tax, everyone can use them to store their wealth and to pay for the things they want to buy. The Federal Reserve will finally have a very compelling motivation to stay honest and maintain the value of the dollar because if they don’t, they will simply lose all their customers.
Ron Paul has been an advocate of the gold standard and open competition in currencies for many years. He is the Federal Reserve’s most outspoken opponent in Congress and has frequently questioned Alan Greenspan and Ben Bernanke about the Fed’s actions.
Join the Ron Paul Revolution and help us put the Fed where it belongs: into the history books and out of our financial lives.
More Information
Thomas Jefferson and Andrew Jackson understood “The Monster”. But to most Americans today, the Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.
In this 1988 interview, Ron Paul talks about money, banking and the Federal Reserve, and predicts the current financial crisis.
Show: American Power Structure
Date: August 1988
Here’s an amazing introduction to the history of the US dollar:
Thanks David, Christine, and Stojan for your posts they generally lighten my day.
I think we are all in agreement that we need world wide monetary reform. What do you think of the Move Your Money campaign. It is a good idea for sure. I am joining a credit union when I can, I hope to never put my money in or borrow money from a for profit bank ever again for as long as I live. If every American did that I think it would make a difference. I really hate some of the conspiracy theory stuff out there, but what else would we call what is going on?
Half of the damn people in the department of Treasury are former bankers, there has been an almost total nullification of government over our monetary system. There is a conspiracy against the people from the banking system and also from government, a very disturbing thought indeed.
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Thank you as well Jugger, your posts have been equally enlightening.
Yeah, with all the crackpot conspiracy theories out there, the trick is being able to recognize when one is real, and the evidence of the banking power conspiracy is overwhelming and undeniabe for anyone who will simply think, examine history and look at whats going on right in front of their face. It simply boggles the mind that more people haven’t thought of, and considered what things could be like were it not for 60 – 80 % of everyone’s income being drawn out of the economies of every major city in American, month, after month, after month. The simple idea of interest should appear unsustainable as well, as when money can only come into circulation in the form of debt and be withdrawn plus interest later, the system must eventually collapse as it has. The problem is that for things like this to become apparent, a person has to think which is something that most people are simply too lazy, or afraid to do.
Credit Union sounds good, i’m intending to switch over to one myself shortly. The bank i was dealing with was workable from a business standpoint, but now they’ve been gobbled up by Chase, who seems to be 50 times the cheat and the scam artist that the former bank was. At least in theory, the profits made by the credit unions are supposed to stay local, so that’s a start. Ultimately that won’t even come close to solving the problem though, as we still have the 60 – 80 % of most peoples incomes being bled out of the economy every month, while the banks are putting nothing back in terms of credit . The end is here, its here now, and if something isn’t done about this within the next few months, it will be too late.
I’ve said this before, and i’ll say it again. Short of an armed revolution, which would probably be corrupted by the banking system by the time it was done, as was the first one, the only solution i can see is for the majority of the population to simply stop making their payments to the banks, and then stop paying all federal taxes. The banks only exist because people are stupid enough to pay them, and if everyone stops at once, they can’t foreclose on every house in America, and we would have collapsed the entire system in less than one month. In ceasing to pay taxes, we would force the government to actually begin producing currency on behalf of the population in order to be able to fund their own operations, and if they didn’t, they would collapse along with the banks leaving us free to establish a government that would. Again, they simply can’t foreclose on every home, or arrest everyone in America for not paying their taxes, and if they tried, they would have a war on their hands that they couldn’t win, as we still have the means to wage it at this time. This is guaranteed to work, and it can’t do anything but work. Furthermore, regardless of any repercussions from this, in one month the economy would be booming simply as a result of one months worth of bank interest being spent into circulation and used to buy something useful. There would instantly be 3-5 times the amount of currency in circulation as there was the previous month.
The insurmountable problem, is figuring out a way to try to motivate and organize a large enough portion of the population to act collectively and together for their own benefit, and ensure that there would be enough other people doing the same thing for this to work that each would risk doing it themselves. I tried an email campaign to this effect awhile ago, but the circulation was nowhere near enough to make this happen, and i’m sure that everyone who received it was too afraid to be one of the first ones to try. If i had 100,000,000,000 to put into a mass advertising campaign to accomplish this i would, but i wouldn’t be able to do it as the banks control the media and they would never run the ads. If the problem is going to be solved, this is the only way i can think of that it will happen, the problem is figuring out how to do it, if it could be done at all. The majority will still be too lazy or afraid to think, and will want to be told what to do, but if somehow someone could be telling them to do something that would benefit them instead of destroy them, that would be a start. The problem is overcoming the established power that would prevent this. If you have any ideas i’d love to hear them, as would the rest on here as well.
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Mr. longshotlui, if noncredit money is emitted according to the cited formula, inflation cannot exist: dM = kM ; k = (supply – demand)/demand ;
k = 5% for example. If is so, inflation is zero.
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Noncredit money as gift whose cost is zero can measure and by real cost and real price. Credit money whose cost is debt cannot measure and buy real cost and real price. Credit transforms real cost and real price in nominal cost and nominal price.
Nominal cost (price) = real cost (price) + debt.
Credit money as debt can buy out only debt.
Real cost (price) cannot be sold. There is not enough money to sell goods and services at market price.
Credit money is never sufficient. Therefore inflation and crisis.
Noncredit money as gift is money without inflation. It is real money.
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Wrong, if it were a simple matter of money inflation than wages would rise in conjunction with prices. Guess what, only prices have risen, NOT WAGES.
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You are still confusing yourself.
Have you decided whether there has been inflation, or not?
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IF there is an increase in money supply then the effects would be increased prices AND wages. Guess what cheeseface, wages haven’t risen.
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So there has been no increase in the money supply?
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If it were a simple matter of inflating the fiat money supply than wages would increase in conjunction with prices, hurting savings.
But wages are not increasing.
Try thinking with that bulbous thing on your shoulders.
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So there has been an increase in the money supply?
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Have wages inflated here in the US?
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Answering my question with a question is no more productive than when you simply avoided the questions.
Your desperate.
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You always answer a question with a question. Boy you’re desperate.
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epic fail
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“Bachmann also warned that any health-care plan should not add to federal or state deficits. She shared the following charts printed in the Feb. 2 issue of Congressional Quarterly Today revealing that the federal deficit under the Obama administration is expected to widen to a record $1.6 trillion in fiscal year 2010 – exceeding 10 percent of the total output of the economy for the first time since World War II: (see chart!)
http://www.wnd.com/index.php?fa=PAGE.view&pageId=126034
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The Geography of a Recession
http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html
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Description of a Banker (from Wikpedia). For those who have met one, you have seen the same, as to be one required the complete and total absence of any form of heart, soul, conscience or humanity. I have seen this “look” and most of you probably have as well.
____________________
An anonymous contemporary described Nathan Rothschild at the London Stock Exchange as “he leaned against the ‘Rothschild Pillar’ [...], hung his heavy hands into his pockets, and began to release silent, motionless, implacable cunning”:[7]
“Eyes are usually called the windows of the soul. But in Rothschild’s case you would conclude that the windows are false ones, or that there was no soul to look out of them. There comes not one pencil of light from the interior, neither is there one gleam of that which comes from without reflected in any direction. The whole puts you in mind of an empty skin, and you wonder why it stands upright without at least something in it. By and by another figure comes up to it. It then steps two paces aside, and the most inquisitive glance that you ever saw, and more inquisitive than you would ever have thought of, is drawn out of those fixed and leaden eyes, as if one were drawing a sword from a scabbard. The visiting figure, which has the appearance of coming by accident and not by design, stops just a second or two, in the course of which looks are exchanged which, though you cannot translate, you feel must be of most important meaning. After this, the eyes are sheathed up again, and the figure resumes its stony posture.
During the morning, numbers of visitors come, all of whom meet with a similar reception and vanish in a similar manner. Last of all the figure itself vanishes, leaving you utterly at a loss…”[8]
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I refer to them as empty shells. A sad existence. They say this is why they pay CEO of these mega corporations so much because they have to be sociopaths to do the job. They can’t care about the people if they are to do the job with the expected outcomes for the corporation. We’d be better off working for and buying from the “little guy”. Create alliances with people who do care.
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Hi Christine. Yes, sociopaths is right and a person has to be one in order to perform said functions. It’s interesting that you bring our large corporations into this and appropriate as well, as Jefferson along with other founding fathers definitely associated them with the banking industry and regarded them as equally evil.
Here is what they have done.
I have an old metal shaper in my shop, that was manufactured in 1899. It’s a huge 3,500 lb. machine, American made, which i bought at an auction sale. Lol none of the farmers at the sale knew what it was, and i wouldn’t tell them, so i ended up bidding against a scrap dealer and picked it up for $ 150.00. It still had the old flat belt pullies on it from when they ran a central steam shaft through the shops and powered the entire shop from a single steam engine outside. The machine was very well worn when i picked it up and had obviously seen a lot of hard use. I cleaned about 80 years worth of dirt and crud from it, and built an electric drive in order to power it. I didn’t expect any great performance from it, but i figured for the price i paid, if it would plane a flat surface within 1/100th of an inch or so, and make it “look” smooth, id have gotten my money’s worth. I clamped a block of steel to the table and made a test cut with the machine, then i put it on the surface plate with the dial indicator to see what i had, and i was flat and parallel to within 2/10,000th of an inch. You can’t buy a CNC milling machine today for a million dollars that will even come close to that and whenever i need extreme accuracy, i go back to that old machine. Its one of the most useful machines i have in my shop, it will keep working for the rest of my life, and if whoever ends up with it after me takes care of it, there’s no reason why it wont keep working for the next 500 years or so. It was built by a company that was owned by one man, who had his heart and soul in the business, and the product was a reflection of who both he, and the employees that worked on it were as a person, according to the old philosophy that a man was worth exactly as much as the quality of his work. At that time people in Europe and the rest of the world, were prepared to pay many times as much for an American product as they were for anything produced domestically, as it was well known that American production was the best in the world.
Although we still have many privately owned businesses in this country, who’s objective and philosophy is identical to that of the people who built that machine, the majority of business and production in this country has been taken over by these large “mega” corporations whom our banks have put into place, who’s only objective is to make a profit any way they can, and who are prepared to cheat the consumer in any possible way that they can in order to do this. They build cheap products with very short life spans, and they pay their engineers to figure out how to make them break a very short time after the very short warranties expire so they can keep selling the same thing to the same person, over and over and over again. This has gone to the extent where half of any engineering course in our universities consists of teaching the young guys how to accomplish this, meaning that any one of them is completely worthless to me or anyone else who actually cares about what they produce as they have been educated in designing things not to work. The corporations don’t make much profit and they will generally spend about 95 cents to make a dollar, whereas it costs me about 30 cents to do it right, but they have grown so big that even at those small profit margins they can dump hundreds of millions of dollars into advertising. People are stupid enough to buy their crap because its cheap, and end up having to replace it every year or 6 months, and keep paying for the same thing over and over again for their entire lives, when they could just spend twice as much once, and have something that would last for the rest of their lives. The scam works magnificently, as between them and the banks, they are managing to very systematically put most of the real, independently owned business in this country, who’s objective is to provide good, useful and lasting production in return for payment of what that production is worth, out of business. The end result of this, is that if you mention American production to anyone from anywhere else in the world today, they will laugh and say “made by Mickey Mouse and Donald Duck”, as its these corporations who have established that reputation, and based on their production, it’s justly deserved as well.
Again, the objective is accomplished, as between the banks manipulation of the currency, the takeover of American business by the large corporations they have put into power, and the stupidity of the American people in allowing the banking system to exist and buying into the corporate pre-programmed obsolesence scams, within a few more years, they will have completely eliminated any form of free enterprise which ever existed here, and have established complete, total and absolute control over every aspect of our economy, political system, and our lives as well. This is the “New World Order”, where the banks and corporations will be the lords and the rest of us the serfs, and the new dark age will be such a wonderful thing for them as they will have absolute power to inflict as much suffering and misery on humanity as they can possibly imagine, so that each and every one of them can make themselves “FEEL” like a great and powerful person in being able to do so, and for no other reason than just that. This is after all, the definition of a “sociopath” and what a “sociopath” will inevitably do, as their craving for that “feeling” of power is single and only motivating force in their lives, and each and every one of their actions is directed toward trying to fulfill that terrible craving which can never be satisfied.
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A well written statement about what incrementalism has done to us over time.
This video addresses the number of governments as well as the number of corporations that are effecting great changes to our world and how we’ve come to look at the world (and each other) as a market, and it’s this market that we have to deal with.
Of the 100 largest economic units 49 are countries, 51 are corporations. Corporations are the driving force of decision making today. Corporations are not concerned with human rights.
http://www.youtube.com/watch?v=qCnWZncHH2Y
I like what this says about following someone and common sense.
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Libertarian ideology empowers the banking industry. Pat yourselves on the back.
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Yeah, in terms of economics i would agree with you on this. For the most part i am in full agreement with most of the Libertarian ideology, especially in terms of small government and minimum interference in our lives, but when it comes to public commodities which are used by absolutely everyone, such as the national currency, these must be under public control and administered for the benefit of the entire population as well.
We have the perfect example of what happens when this is not the case today, in that private interests, the banks, have managed to establish complete and total control of both our economic and political system, at great cost to the people or this country, both in terms of our prosperity and individual freedoms, and short of mass action by the entire population of this country, i expect that within 5 more years there will be no prosperity nor individual freedoms left, as the banks have managed to establish the absolute power that they need in order to make it so, and we will be back to the old feudal system with them as the lords and us as the serfs, which has been the intent all along.
According to the standard Libertarian economic philosophies, even if the individual freedom they seek were to be temporarily re-established, it would only be a matter of a very short time before the private interests (banks) seeking control over our economy and political system would have re- established that control and we would be right back where we started. They are completely ignoring the root cause of each and every threat we have experienced to our freedom since the establishment of this country, and they seem to be adamantly opposed to properly securing the freedom they would wish to establish. Were it not for this, they would have my complete and total support, but until they reach an understanding of this, instead of simply believing the Austrian bullshit which would simply maintain the power for the same banking industry that are in the process of destroying the last good place left in the world today, there is no major political movement whom i can support.
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Personally I don’t care much about the banks. If banks become to big it’ll be like the Robber-baron era, and they’d be broken up as monopolies, i’m not really worried about banks. They are a “service industry”, they are suppose to “service” something which doesn’t exist anymore cause these free traitors destroyed manufacturing.
Although those huge bank bailouts are kind of creepy.
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The creepy part is the relationship of big banking and big government.
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“The creepy part is the relationship of big banking and big government.”
Libertarians have no problems when local governments give tax breaks to bring business into their area.
“Big banking”
“Big government”
political buzzwords that have no meaning.
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No meaning to those that have not recognized the daisychain of debt.
Are we now comparing local government to the incestuous relationship between global banking and federal government. That would not even reach the apples/oranges status.
Maybe the donuts/oranges status.
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“Are we now comparing local government to the incestuous relationship between global banking and federal government.”
Blah blah blah blah
BLAH BLAH BLAH BLAH
blah blah blahblah
So you Libertarians would have no problem with a local tyrannical government, cause it’s not the tyrannical Federal Government.
Blah blah blah blah
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Desperation leaps.
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Non-credit money as a gift is the only way for solving the economic crisis. China emit non-performing loans. It is non-credit money as a gift.
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Debt Dynamite Dominoes: The Coming Financial Catastrophe
Assessing the Illusion of Recovery
http://www.globalresearch.ca/index.php?context=va&aid=17736
lengthy article with lots of details.
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By Kennedy’s Executive Order 11110 (on June 4, 1963), Kennedy emitted the cash money free of debt and free of interest. It was a non-credit money as a gift. Kennedy’s E.O. 11110 was never rescinded. So, the E.O. still stand.
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Greece is on the verge of financial collapse. If it goes, then so do several other countries. “When the eurozone has collapsed, the energy and banking cartel can go on a buying spree of historical proportions.”
“Goldman Sachs has been blamed for creating the Greek debt crisis and undermining the euro by enabling the government to hide their mounting debts by the New York Times.”
“It is time to open an inquiry into Goldman Sachs and the role of the Bilderbergers in the artifically-created crisis currently gripping the eurozone that is being artificially prolonged by key Bilderberg politicans like Germany’s Chancellor Angela Merkel. T
It is reasonable to ask whether there are factors motivating Merkel and Issing to promote a course of action that is so obviously against the real interests of their own country because if Greece defaults, it could destablise the entire eurozone, including Germany’s economy already battered by the banksters machinations.”
Video: Greek Protests Mount as Parliament Passes Budget Cuts
http://www.nationalpolicyinstitute.org/2010/03/07/video-greek-protests-mount-as-parliament-passes-budget-cuts/
Iceland braces for consequences of Icesave vote
http://www.forbes.com/feeds/ap/2010/03/06/general-eu-iceland-financial-crisis_7412494.html
dam.d IMF…once it comes in, the country goes into further debt and then they lose control of and financial benefit from their own country’s resources. The work of the Builderbergers – to gain control of the world’s resources and banking cartels. Listen to what Ron Paul has to say about them…
Ron Paul-Bilderberg Group
http://www.youtube.com/watch?v=plo-1rLZ3Jo
Isn’t having control over our country’s monetary system a large part of us regaining our freedoms? Yes!
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Do you really have any idea what you are copying and pasting? Do you even think before you hit “Ctrl-C” and “Ctrl-P”?
What do you mean by ‘artificially created crisis’? As in someone just created this from nowhere? Some evil group targeted one of the smallest countries in the Eurozone that also has some of the most entrenched union-based principles?
Are you saying the protests are bad or the aggressive deficit-cutting measures being taken are all orchestrated by the “Builderbergers” (sic)?
Apparently you have never been to Germany, France, or Greece and have no idea about the tensions or complexity that is involved here.
Nooo, it’s all so simple. Save us some time going forwards please, use the conspiracy generator:
http://www.wired.com/magazine/2010/02/pl_print_conspiracy/
I look forwards to the Biderberger/HAARP conspiracy next, that should be an illuminati, ooops I meant ‘illuminating’ doozy.
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You say nothing informative about Greece’s financial situation and what has contributed to it. Very serious situation. Instead of trying to sound cocky like you know something, or have some superior insight, say what you know or don’t waste the space.
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While I debate the usefulness of entertaining questions from someone who can truly believe that “When the eurozone has collapsed, the energy and banking cartel can go on a buying spree of historical proportions.”
My take is that Europe, which has suffered a deeper recession than the United States in 2009, and as is inextricably linked to the wake of post-financial crises, has simply been exposed to a combination of lax spending habits (but remember it was not that long ago that Greece had a budget surplus) but more importantly a sheer drop in tax revenue. To reiterate, sovereign default is a common theme following financial crises, but this is the first test the Euro has faced. While Greek public debt comprises a mere TWO PERCENT of total Eurozone GDP, this would then serve more as a figurehead crises where this situation is serious, yes, but not exactly unprecedented.
Naturally, there are many complicating factors and most involve cultural difficulties that stretch back far further than the advent of the United States. Germans don’t want to pay for Greece’s bailout, nor do the French. However, that two percent will far outweigh any type of harm should the market completely lose faith in their united currency. The Irish are pissed because they voluntarily assessed austerity measures, as thus if they watched Greece get a bailout it would introduce moral hazard and worsen relations in the Euro zone – again testing market resolve. Ramifications via the Maastricht Treaty notionally prevent a direct bailout, however protecting the markets favorable view is of utmost importance and any bailout would more than likely have severe austerity requirements and undermine Greek pride.
In addition, bond spreads and credit default swaps are giving a divergent assessment of risk which is simply reinforcing the fact that absolutely NOTHING is absolutely for certain and the market summarily is rejecting your notion that these Bilderbergers exist and will, with 100% certainty, succeed in destroying this country and then go about looting and pillaging.
In addition, the austerity measures adopted recently have been summarily applauded. They seem to be muddling through it and acting in response to crisis. Not ideal, but also not this crackpot Bilderberger ‘rape and pillage the country by inventing and masterminding every crisis’.
Greece did this to themselves, and under watch of the EUC, not the Bilderbergers.
But hey, that would be my $0.02 since you had asked.
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After bumping into my ass every time I stopped here, now you want to avoid me?
Ok, Ok, so you don’t want to talk about mysterious deaths. I understand.
In light of that, I offer a gift.
Proof that 9-11 truthers are dangerous:
http://www.washingtonsblog.com/2010/03/proof-that-911-truthers-are-dangerous.html
Meet me half way?
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How To Destabalize Countries Legally .Economic Hitman Part 1
http://www.youtube.com/watch?v=R6WstddMJZQ
When the IMF comes in to bail them out, they actually go further into debt, owing a debt they cannot repay. Then when the IMF collectors show up, and they cannot pay them, they must turn over their resources or offer them at a low cost…losing more of what riches they had. The Bilderbergers want control over the earth’s resources.
There are videos about how this has occurred in Iceland with American corporations coming in with Alcoa Aluminum, taking that countries resources and enriching themselves. Jamaica has been hit. Vids on that too. Haiti no doubt is in this predicament and worse. America has been hit by financial terrorists, most definitely.
I work in real estate with foreclosures for just one county in the pacific northwest. Weekly I start out with around 256 homes lined up to go to auction for sale. A few are saved and the sale is called off. The sale date on some are pushed into future months, giving the homeowner some more time to dance with the banks who are not helping, nor is the government with job creation that would help them make their mortgage payments and keep their homes. And after the sale on Friday, each week a few are bought by 3rd parties, but the majority of these homes are reverting back to the bank.
This spring, very soon, 2 more bad loan types are due to reset with new interest rates and new payment amounts homeowners will be unable to afford. More foreclosures. Some abandon their homes with the contents in them for the neighbors to pick through or to be hauled off. Commercial loans for struggling businesses will not be extended and businesses will close their doors, more people will be joining the unemployment lines creating yet more foreclosures when they can’t make their mortgage payments. Aside from this, those who are renting will be unable to afford their rent.
“Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. ”
~Thomas Jefferson
Tell me what kind of government allows this to be the case for its people and then tries to convince us that they are concerned about our health and healthcare and our national security from terrorists? What could be more terrorizing than what I have just described?
Of course, they want us to look to them, the government, to “fix it”. This is the same mode of operation they practice to implement things we would never agree to (always includes loss of freedoms)…Problem, Reaction, Solution. They create the problem, we react and say fix it, and they deliver “their” solution. This time, I hope Americans are wise enough to NOT look to the same people who are causing the problems for any solution whatsoever. They are incapable of thinking like Americans. We must rise up and think on our own. Land of the brave, home of the free, remember?
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Germany did want to help Greece but was threatened.
France has agreed to help Greece. google it.
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That is all anyone has done so far – offer vague reinforcements there hasn’t been any official word yet that the market has embraced. I am sure they are all trying to figure out what to do should the markets stop viewing this as a solvable issue and Greece then enter into a liquidity crisis.
The fact remains, the governments are trying to determine how best to approach this. It isn’t a conspiracy, it is just how this world works.
“With German public opinion strongly against aiding Greece, Chancellor Angela Merkel’s government has been reluctant to offer any concrete monetary assistance, beyond a vague pledge that it will take action “if needed” to protect financial stability in the euro zone.”
“Media reports in Germany and France have suggested governments in the 16-country euro zone might offer aid worth a total of 20 to 25 billion euros to Greece. Officials have declined to comment on the size of any aid plan.”
That is it, speculation.
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The IMF is hovering over it’s prey.
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Christine, i’m definitely going to come to your defense here, i was reading Forrest’s reply both prior to and after this posting of yours, and it’s absolutely laughable.
The simple fact that there is a global economic crisis is hard and conclusive evidence of a conspiracy, and it simply would not, and could not exist, had private banks in control of our currencies not simply removed all of the money from the system that people need to trade with. The possibility of economic crisis simply has not existed in the few instances in history where the banks were removed instead.
The simple fact that banks perform absolutely no useful function and simply have managed to secure the power to manipulate the worlds money supply at the expense of its population, can only be accomplished by conspiracy and through no other means.
Forrests statements in his second post seem true enough but again, each and every one of these events and consequences is a result people and governments being stupid enough to allow the conspiracy of the banks in manipulating our national currencies.
Absolutely one thing is absolutely certain, and that is if we can get rid of the parasites who are have been conspiring to, and are, manipulating our global economies for the sake of their own power, there will be very few problems once this is done and our prosperity will then only be contingent on what we are able to produce, which is considerable. The world would be a very wonderful place to be, were it not for the efforts of half a dozen or so families who own and control the banking industry. The problem is that the vast majority of its population are too stupid and lazy to think, and simply listen to people like Forrest because he can make it appear that the problems are naturally occurring and not ones that can be resolved, and will never figure it out how simple it would be to do so, until its too late to be able to do anything about it, in most places it is already.
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That’s true my friend. No other way than a conspiracy. The problem with words, especially the word conspiracy, is associated quickly in the mind with “theory” to devalue the importance of it. Part of the mind control game. I suppose you can say they are practicing risk management in their minds so they can continue to do what they do to destroy everything. Various people respond to this information, to the truth of the financial disaster, 9/11, etc., in many different ways and are at different levels of understanding. Some feel vulnerable so the typical response is to sound tough or to ridicule. It’s wasted space to me even tho I understand it. We are misled enough by the govt, we certainly don’t need to be doing it to each other. We are strong together by uniting under the meaning conveyed in our constitution, the American heart and soul. What Americans really feel is not being represented in Washington. I’ve said it before and I’ll say it again… It is like Washington D.C. is a country to itself, one that we need to attack to defend our liberties, freedoms and national security. When I hear Pelosi say, “We are doing this for the American people” it is as if she doesn’t consider herself one. You know what I mean? With all these wars and govt actions causing hostility and unrest purposefully, we need to look honestly at the source and do what I call “getting chiropractic”, to get at the root cause of the problem and eradicate it by replacing it with something else like the declaration of independence speaks of….. when the govt gets destructive, it is our obligation …. good to read over all of the reason they wanted to establish America. May ring some bells.
http://www.ushistory.org/declaration/document/index.htm
“That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”
You know they are not concerned with our safety and happiness in Washington…so when this time comes, we the people (not lawyers) need to institute a government that represents us again and respects individual rights and our God-given freedoms that we value so highly.
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Hehehehehehehe
We have to get a sitcom for MattForest so we can laugh at him on television.
We”ll call it, ‘No Damn Conspiracies’. He can chase the Conspiracy Kids out of his yard with his cane, and worship Soros at the shrine that he built in the bathroom. Oh wait, he will be chasing the Kids out of other peoples yards.
Next time you are up for a rant, MattForest, try this one out
http://www.youtube.com/watch?v=bvay28lZiHU
This should be a hoot. C ya soon.
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It’s nice to know I have friends. Thanks Louie. There is so much on 9/11. There is so much, period. It’s taking way too long to make the proper arrests of those who orchestrated it. It would be a cleansing, a healing for our country. Every see the movie Wall-e? The guy at blockbuster recommended another movie on the same order… “Idiocracy”, said to watch that one first, then Wall-e.
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Two words …. Planned Obselesence
Could it have been a conspiracy?
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I have had a change of heart, MattForest.
You are correct.
How could it be a conspiracy if it’s no longer a secret?
Not secret = No conspiracy
Thx for setting me straight.
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“When the eurozone has collapsed, the energy and banking cartel can go on a buying spree of historical proportions.”
You are very correct in this statement; however, the buyers are not limited to a ‘zone’ — they are international entities by nature. (ie: JP Morgan, Goldman Sacs, IMF etc.) It has already happened during the Argentinian collapse of 2002 — the VERY same thing by the VERY same financial and energy companies that are not ramping up for the Greece collapse. It is NOT a conspiracy theory as Forest Monkey poster suggests — it is real and it has been occuring for over ten years now.
We are in the most significant global power grab in all of world history. OB performing land grabs on areas rich in petrolium and setting them aside as wildlife refuge. OB admin grabbing up large swaths of coastline in LA and MS to gain control of state lands and state access to the ocean. OB working with the IMF to establish/ratify international treaty to supercede the 2nd Amendment and register/confiscate guns. OB admin taking over 17% of U.S. economy via Health Care price control and heafty tax levying. EPA grabbing control of industry so as to regulate “CARBON DIOXIDE EMISSIONS” (for Christ’s sake!) OB admin and Congress having the audicity to loan fiat money that it printed up, to the very banks/institutions that will now suck the wealth from Greece (and other countries), and then turn around and say that WE are part of that debt by using the lame excuse that it is “taxpayers’ money”. No, the Gov’t stole our wealth, paycheck by paycheck, and now claims that the wealth was preserved in the faux dollars that it printed up and loaned to the banks. In truth, the gov’t just wants to get its claws deeper into the banking/mortgage/healthcare/automotive…. industries and printing up money and loaning it to them is just how it does it. Taxpayer’s didn’t bail any instution out…they only got raped a portion of their wealth by paying taxes. The taxpayer’s wealth was destroyed as soon as its dollars hit the IRS office. It is a fantasy to think that the gov’t is ‘on our side’ by making sure that the banks pay back taxpayer money. If the gov’t was truly on our side, it would give us the money back, that it took from us, and stop printing more dollars so that the returned money would grow in purchasing power.
We can go on and on…fact is, we are all facing a ‘world of hurt’ coming very soon. I suggest that you don’t have your head in the sand when it hits. The bursting of this ongoing POWERGRAB bubble WILL be ugly.
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I’d like to see the day when we don’t use money, when everyone recognizes that these little sheets of green paper are meaningless and worthless. I’d like us to cause a social change (something the elite fear we might do) and get beyond thinking we need them and that they represent power and control. These sheets of paper have been created, assigned a value, by someone, who knows who? Just like someone assigns a value to a secretary versus a doctor’s salary. Who are these folks? As free thinkers, we can assign them a “zero” value before the FED does. So all those folks who have amassed all these worthless sheets of paper are actually like the wizard of oz when we pull back the curtain…psychopathic humans, sociopaths…not powerful and not, not in control of everything and everyone. As we believe, it is so.
We need to start thinking about creating a society that allows for us to meet our human needs in ways we have never allowed ourselves to have them met, to flourish and prosper in many ways, no lawyers, no money, no poverty or elitism. This society emphasizes the enjoyment of and respect for all life. Positive-minded, using our personal energy in ways that enrich our lives instead of destroying it. We the people need to do this, even if it started in community round tables. We control our own lives. We take back the responsibility of creating healthy societies.
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Lol well ive said it before Christine, your a woman after my own heart, if only this could be made to happen.
What your describing here sounds very much like what Ben Franklin and the colonial governments had instituted prior to the revolution, they had no banks and no money, and simply printed what they called “colonial script” which represented a certain value of goods or services, and distributed it among the people for them to trade with, resulting in the greatest per capita prosperity that the world had ever seen and many times that of the mother country. With our technology and production capacity today, the results of something like this would be absolutely phenomenal.
We do need something to allow a diverse range of people to trade with each other for their mutual benefit, but as long as this means is produced and supplied for the benefit of those people and not for the power of banks, this would be accomplished. The impossible task is eliminating that power so that we will be free to do it, and as usual, and as has been throughout the course of human history, evil is always rewarded and good is always punished. If only people were wise enough to make it happen while they still can, i guess we can still hope for a little while longer.
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You’ve got it Susan, and a very clear perspective on things too. As an immigrant to this country i’ve seen this happen before and i just hope and pray that people here figure it out before the banks have manipulated them into a position where they can no longer do anything about it. Whether there is any hope or not of that is debatable.
#1 The banks gain control of the political establishment and put those in power who will serve their interests, and there can be no arguing that in view of our past several presidents.
#2 The banks create economic crisis, and force the governments to tax the people to pay the banks, per the 750,000,000,000 dollar Bush and Obama bailout and more.
#3 Banks through loan refusal and creation of economic crisis, and government through taxation and regulations destroy all small business leaving control of the countries industry in the hands of a few large corporations they can control.
#4 Through all of this the people are forced into a position of abject poverty, leaving them completely and totally dependent on the banks and the state, thus ensuring that they will be completely and totally subject to them, then the banks and governments institute gun control in order to ensure that it will remain that way as well, after which suicide (which was the leading cause of death where i came from) remains the only option, as it is the only way a person will ever get free of these bastards power.
Power and Freedom cannot exist in the same space, and power is on the verge of eliminating every single freedom that could possibly make our lives worth living. The solution today would be very simple, and it would be for the entire population to simply stop making all their bank payments and to stop paying taxes all at once. That would collapse the banking industry and force the state to start producing and distributing a public currency to fund their own operations, and even one months worth of bank payments and taxes remaining in circulation and being spent at this point would already go a long way to restoring the economy, but the vast majority of the population is still much to stupid and lazy to think and figure out that this needs to be done, and then co-operate with each other for their mutual benefit. So much for the land of the free and the home of the brave, it was the single and only place left in the world where life could actually be a tolerable thing, but its days are at and end. Unfortunately, it won’t be lack of a desire of freedom or the willingness to defend it that will finish it off, but simple stupidity, where the people won’t realize who their enemy is until they have already been defeated. As you say, it will be ugly, and far more so than anyone here is capable of imagining right now. Then we could say “i told you so”, but they will have put all those who object to their power in prison so that we can’t be heard.
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Just in case you haven’t seen the latest from Max K
http://www.brasschecktv.com/page/821.html
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Mad Max has such a way about himself. No rhyme or reason to this financial mess, just terrorism. Random acts of terrorism (instead of kindness). They really do need to find something more productive to do…behind cell walls. Maybe they could learn origami.
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Prince William follows Charles’ footsteps into political arena with call to end poverty and homelessness in ‘broken’ Britain
http://www.dailymail.co.uk/news/article-1254897/Prince-William-follows-Charles-footsteps-political-arena-end-poverty-homelessness-broken-Britain.html#ixzz0h7MtMhu2
…and we need the same kind of compassionate speaking up for Americans!
I swear, animals treat their own kind better. We have systems that do not work and we put up with them. They work for a few, but not for the many. It’s time for a cool change.
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Christine,
I completely agree that UK poverty and homelessness is a bad thing. I might suggest that the UK governemnt drastically cut its absolutely ridiculous tax rates because, it is very clear that, even with all the money it rakes in from its poor citizens, it cannot help them with even the basics. Perhaps if all these poor and homeless people and more money available to them, then they would not be in the situation in the first place! Perhaps they need to band together and shrink their monitarily oppressive government, in order to retain more of their wealth. Makes perfect sense, yes?
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We tend to run parallel with the UK, so closely connected with the King and Queen you know. If you read my post above, you know that I work in real estate, particularly foreclosures, here in the pacific northwest of America so I see the numbers, and for just one county in the all of America, it’s shocking to me that this continues to go on for all of our American families. We are not too different from the UK, joblessness, homelessness, business losses, all on the rise. Yes, smaller government so we the people are not affording more paychecks and benefits, the likes of which we do not receive!
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Let me know what you think of this research.
The U.S. is Still A British Colony
http://www.civil-liberties.com/books/
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Dear Friends, there is real cost. If money is emitted as a gift, whose cost is zero, money as a gift can determine the real cost. Opposite to, money as a credit has cost equal to debt which is added to real cost. Nominal cost (real cost + debt) is always greater than real cost. In credit money system inflation is necessary and real money cannot exist. Real money is money as a gift. Only mathematically perfected economy is formula: dM = kM ; k = (supply – demand)/demand ;
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Are you saying don’t charge interest on borrowed money?
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When it comes to the FED Reserve that must be handled wise as a serpent and gentle as a dove.
It can be done but not with precious metals
According to the founding fathers, government should be no larger than 14% to 17% of the population taken by the census.
In addition, the framers wrote that European, communist, or monarchy style legislation is unconstitutional.
The Vice president is the most important part of our government because he/she is chair of the senate.
The senate must stay in constitutional order. The Vice President must be setting in on all sessions to keep the senate in point of order, and break any tie vote.
These types of legislation should never get out of the senate, European, communist, or monarchy. These bills must be sent back to the house to be reworked.
Should it get out of the senate and through the committees and to the president’s desk the president must turn to the people and read the legislation to the them and explain the type of legislation and get the people to get their house to remove that legislation or he will veto the bill.
How many Vice Presidents and Presidents has adhered to the founding fathers wishes since the ratification of the Bill Of Rights?
I submit to you, not one.
Think about it.
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Thomas Jefferson got rid of the 1st Central Bank. Andrew Jackson got rid of the 2nd Central Bank. Who is going to get rid of the FED 3rd Central Bank?
“If the American people ever allow private banks
to control the issue of their money,
first by inflation and then by deflation,
the banks and corporations that will
grow up around them (around the banks),
will deprive the people of their property
until their children will wake up homeless
on the continent their fathers conquered.”
Quote by: Thomas Jefferson
(1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President
Source: in 1802 in a letter to then Secretary of the Treasury, Albert Gallatin
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Sound money would be debt free money issued by government, not credit from private banksters.
http://www.monetary.org/32pageexplanation.pdf
The ultra-hard core commondity money crowd is incapable of understanding the money not need have any intrinsic value. Arguing with them is like arguing with flat-earthers and creationsists. They have already decided what their conclusion is and they warp the facts to meet that conclusion.
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Hi Jugger;
Yeah, again we think very much alike and this seems to be common to all those who are willing to think, instead of just trust and believe. Its such an incredibly simple thing as well. All we need is for a public currency to be issued simply as a means to faciltate trade, and in quanitities which will allow that trade to operate at its maximum capacity, instead of as debt for the purpose of killing off that trade and enslaving the worlds populations as it is now.
In regards to the commodity crowd, well all of human history is the evidence they don’t seem to be able to accept. I can’t recall anything but very brief periods of temporary prosperity which always came to an end very quickly while America had been on the Gold standard. Prior to that, it was the Kings, Queens, the lords and the Roman Catholic Church, that had the gold and the remainder of the worlds populations existed in abject poverty, and served no other purpose than to function as their “victims”. Then the bankers came along and cheated them out of their gold and then even they didn’t have it anymore. No matter how hard you look, you simply can’t find one instance in human history where gold or silver as a currency has ever brought any significant benefit to all but a very small percentage of the population, however Franklin’s colonial script brought great prosperity to the entire population, which would have never come to an end, except that it was outlawed by the British banks and the population forced to use pounds “stirling” instead, which they had control of.
Would seem to be a simple thing to figure out, but as you say, to many have “faith” in what they’ve been told.
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A very detailed blue print for monetary reform please read it and circulate it. Tell us what you think.
http://www.jamesrobertson.com/book/creatingnewmoney.pdf
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Agree that greatly increasing the money supply disconnected to actual increases in economic output is bad policy. Disagree that the gold standard would solve it. Who would control the gold? The Fed. As an old joke once put it, how would we know there’s any gold in Fort Knox?
A lot of these problems would be solved by putting the Fed under civilian control and setting some reasonable limits on Fed interest rate movements. Going back to the gold standard would not by itself solve any major problems with money supply or the economy. Tying the money supply to the supply of gold would also be a drag on growth, which was one of the reasons the US went off of it in the first place. The gold standard worked for industrialized countries once upon a time largely because colonial hegemony allowed them to obtain gold cheaply (sometimes no more than the cost of the military deployment necessary to insure the supply) from less developed countries. How well would that work now?
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Sacramento California, 2010 – unemployment 12.4% and the median home price has fallen 60% since 2007… Big monopolistic lenders and investors are still neglecting these problems after saving themselves by changing the economic rules in 2008. Our monopoly game is over. Perhaps it could have worked out better… if our government had heeded the 60% of Americans whom opposed the emergency bailout by Washington giving great economic strength to a few Lenders and companies at an oppertune time. These companies cheated. They did not play by their own rules….they grew their monopolies, thriving at the expense of their competitors. Americans are not stupid. Our government failed us. Washignton is in bed with a few hogs… and they are eating all of our assetts. When economic rules are re-written…. propoganda and spin doctors can not stave off the truth for long. Now the hogs and their corrupt officials… must be eliminated.
There are plans by Tea Party members to reform America… and our states – even California is ready for real reform… Citizens can strike. Mass default by citizens on all loans owed to the cheating benefactors of TARP – aka 2008 Washington assett redistribution act… This was passed by corrupt officials. The theives whom banged it through called it – the saving of America. We promissed them we would end their careers … This is how the Tea Party was born. We responded to those illegal changes to our economy… by our government. Our government showed us they are not able to lead America. Today Reform is required… if America is to survive the decade. Changes in government must include: 1) Career term limits and collusion prevention, 2) required audits every year for all elected and appointed officials, 3) audits of Federal Reserve officials and their activities, 4) audits of Treasury Department members and activities…. These four changes can reform America. They are a beginning. They are the demands of reasonable citizens. Reforms pave the way for America to create new economic rules for a solid economy. Then can we produce a good budget plan… America must profit her citizens. Citizens are her stockholders… We have many educated citizens whom can easily replace those few hungry, greedy families… now in control of both political parties, the media, the economy, and the government. Wake up America and smell the roses – take action. We deserve a smaller, smarter, non corrupt government… and this kind of military too… cleaner and leaner institutions can produce great results for her citizens.
2010 – Liberty begins in our hearts and minds… she moves amoug us speaking truth and courage.
Mike Jaeger Live
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I work with a foreclosure company for one county and the banks are eating up the foreclosed homes, so many going back to the lender, more rarely do 3rd parties buy them at auction. What do these banks plan to do with all these foreclosed homes that were once inhabited by freedom loving Americans? How can they afford to keep so many foreclosed homes on their books? This should not be happening here!
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Mike, you are right people are fed up. Incidentally it was not a tax on Tea that caused the American revolution it was that the PRIVATE Bank of England made it so we could not issue our own currency much like the FED!
From wikipedia:
The Paper Bills of Credit Act 1763, also, more commonly known as the Currency Act was an Act of the Parliament of Great Britain (citation 4 Geo. III c. 34) which prohibited the American colonies from issuing paper currency as legal tender
Check out the American Monetary Institute website http://www.monetary.org if you have time, and spread the word. We need monetary reform now before we slip into a deflationary death spiral.
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I’ll second Christine and Jugger here. Great post Mike and i couldn’t agree more.
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Somewhere in here is some good advice for true Americans! The folks who run the white house are not Americans.
Why Greece should declare its sovereignty, set up a new currency, and prepare for a better future outside the eurozone
http://www.theflucase.com/index.php?option=com_content&view=article&id=2827%3Awhy-greece-should-declare-its-sovereignty-set-up-a-new-currency-and-prepare-for-a-better-future-outside-the-eurozone&catid=41%3Ahighlighted-news&Itemid=105&lang=en
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Sound money. Is there such a thing? I’ve been yakking about money being worthless sheets of paper, a mere belief in someone’s idea and illusion of an economy for sometime now and then I read this… satire yes, but then again, maybe not.
http://www.theonion.com/content/news/u_s_economy_grinds_to_halt_as
We are what is of real value! You and me. When we can pull our heads out long enough to see that we are humans with human needs (nutritious food, a home, clothing and a way to express our gifts and talents to be shared with our communities), then we will be able to design a natural system that supports all of humanity instead of destroys it. Scarcity is an illusion. It is created by politicians and greedy elitists who seek to have an overt control over others, when what they need to learn is self-control and respect for everyone. I mean, who raises a child to one day grow up to terrorize others and say “I want to own the world’s resources, to control everyone and everything”? If we stop believing money has power and look at it as meaningless sheets of paper with no real value….what happens to those who think money gives them power and control over others? Game over.
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@jack
It doesn’t appear that you really know what you are talking about. Your website reads like an MLM scam site with little more than buzz words and lots of meaningless text.
Murray Rothbard explains the Great Depression very well in “America’s Great Depression.” If you disagree with the Austrian Business Cycle Theory, please show (coherently) why that is. Simply claiming that Austrians did not, and could not, predict a boom and bust cycle is ridiculous on its face. Especially considering that there is plenty of documentation in the form of books and articles showing you to be incorrect.
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I’m not sure what to make of this, It’s hard to know rather is important to do something when thing are going bad, or simply the question can be redefined; is it bad? Is a matter of perspectives?
I would look at this as a necessary process, allowing the economical system to fail under the climate pressure; this will obligate people all around the world to function under a resource base economy, not to mention that we are under the constant threat of overpopulation … so the climate effect as horrible as it can be, could be seen as a natural and necessary process.
For those interested in the history of “money” here’s a link that might provide some information:
http://www.youtube.com/watch?v=YLYL_NVU1bg&feature=player_embedded
After viewing many of the aspects of the monetary system, I noticed that many variables have not been in question, these have a profound effect in our present time; the intervention of technology.
So first we have to make many questions to understand the direction that we are taking.
Why do we work?
To make money, money provides us with the means that covers our basic need: Food, Shelter and others.
But we need phones and laptops, it’s nice to have not just good clothing but cool clothing, and money provides the mean to purchase this.
So who is making phones, clothing…? and who is providing us with food… Farmers?
Well we used to have many farmers and several assembly teams, but these were substituted by an employee that never gets tired and is accurate every time and doesn’t care for money, and not to mention his productivity is thousands times greater than any other person. He’s known as “machines”.
So is easy to understand that we can solve the employment problem by eliminating the machine production, and returning to the inaccurate and inefficient labor.
I guess that most people don’t feel like going back to that… so what does that tell us?
As technology appears we humans will lose our working places… Does that mean that in a future we will have nothing to do?
Well… you can take child’s as an example. They are constantly doing things, and their brain works like a sponge… and they are doing all this without the motivation “money”. They can do this because their basic needs of food shelter and all the other things that you could add to the list are being taken care of by their parents.
So we could say that parents are the “machines” for the kids.
Many I met in my childhood wanted to study robotics and designee, some of them wanted to be musicians, not because they wanted to be rich, but because they were interested.
In the following I’ll invent some statistics: I guess that 99% of the world has seen less than 3% of the world.
I make this guess out of the fact that only 1% of the ocean has been explored.
I guess that less than 1% of the world has seen a rhinoceros in real life.
I make this assumption because I have never seen one.
I could continue with the list… what I’m getting to is that apparently there’s much more to do in life, than work, and acting like slaves that smile under meaningless rewards; mostly when literally speaking we could LIVE; hard to top that reward… eh?
I hope that this scrip offers an alternative direction and enlighten creative solutions for it.
Thanks for reading
Thor
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Hi Thor;
You make some very valid points here, which offer some good food for thought, and it looks like your seeing the same solution that seems apparent to many of the rest of us here as well. All of these problems were figured out and solved a long time ago by people like CH Douglas and others, and the only thing preventing the solution from coming into effect has been the worlds banking system, which maintains and builds its power by destroying our lives and economies instead of building them as it would be without them.
In regards to machines and technology replacing people, this should be a very good thing. The bottom line here is that some of us are in business for ourselves, and survive by producing useful goods and services in return for payment. Far more are employed by those like us, and the wages they receive are far below the value of the goods they are involved in producing, as otherwise it would be impossible for a business to function. The production is all trying to compete for the same dollar, as there has never been anywhere near enough in order to pay for everything that can be produced, as whatever form of currency is injected into the system first of all has to be earned by those doing some sort of useful work, the total of which is far below the value of the potential production, and then the banks take back the majority of that in interest payments, and governments in taxes, leaving them only a small percentage of what they actually earned in order to buy any form of useful production. This the system must continue to collapse on itself, as the majority of the effort is going toward feeding parasites who make absolutely no contribution to the benefit of our society, instead of going to that society for its benefit as it should be.
The single and only solution here is simply to produce and administer a public currency for the benefit of the American people, and hopefully eventually for the worlds population, and distribute it in such a manner that there was enough in circulation in order to actually pay for our entire production capacity. This would mean either massive amounts of public spending, to the extent where virtually all of the things we are paying through the nose for now were free, or huge injections of capital into the hands of the population, in order to enable them to purchase the full volume of our production capacity, and i think the choice of the people would be the latter. Everyone’s basic living could be paid with this, above and beyond what they were able to earn with the truly free enterprise system which would be established. As machines and technology replaced workers, our production capacity would be increased meaning even more currency being injected into the population to pay for it, with everyone having more and needing work less as the process continued. I believe i recall a number of this countries founding fathers making statements to the effect of “studying science, agriculture, engineering, military strategy, etc., for the purpose of building our nation to where their descendants could immerse themselves in the arts”. All that has prevented this from happening a long time ago already are Banks and the corporations they establish to serve their power.
For anyone who thinks this would be impossible, simply look at the combined annual profits being generated by America’s Banks. Then consider that between 60 and 80 % of everyone’s income in every major American city is being consumed in mortage interest, each and every month, and withdrawn from the economy before it can generate any form of useful production or serve any other purpose than to just make the bank grow bigger and the rest of us smaller.
Anyone who is too blind, ignorant, or stupid to figure this out, simply isn’t worth wasting time talking to, and unfortunately this still constitutes 99 % of the population, as they still believe the bullshit that the money belongs to the bank and that the bank is doing them a favor by loaning it to them and making them a slave to payments for the rest of their lives. The term “mortgage” comes from the French, with “Mort” meaning death, indicating that they will be paying, and paying, and paying again, until they finally die. That alone should be enough to tell these idiots whats being done to them, but they would rather just trust and believe in something that does not, cannot, has never, and will never work.
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I 100% agree that the Fed has to be gotten under control of the voters! Inflation can be abused to steal from the productive people, just like the destructive income tax of the IRS.
But as the population of earth grows, production, goods and property increase as well. This is why the money supply must increase or the day will come when people cannot buy. Compare:
Capitol Hill Baby-Sitting Co-op
If money must be backed by precious metals, which are limited resources, an artificial restriction is put on the natural growth of economy. It also makes a nation dependent on the people who control these precious metals. Yet another type of slavery.
Therefore I think it would be a huge mistake to go back to the gold standard.
Abolish income tax, remove all regulations that make it hard to run a small business and break the money lending monopoly of the big banks, who seem to have exclusive access to newly printed dollars. Then the economy will recover.
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Bingo !, you’ve got it, as do many others here. Any way you look at it, money is simply an artificial means of exchange which enables a diverse range of people to trade with each other. Until now, the manipulation of this public asset by the banks has accomplished nothing but to create hardship and poverty for the people producing the useful goods and services. Basing the currency on a rare and scarce commodity would again accomplish exactly the same thing as has already been accomplished. There would never be enough to pay for what we could produce, and eventually it would all be accumulated by the banks in interest. Since the banks couldn’t create credit under these circumstances, our demise would happen even faster than it has under the former conditions.
To do what Ben Franklin and the colonial governments did prior to the revolution and establish a system of artificial currency and credit run for the benefit of the population who are producing the useful goods and services, and then supply enough to pay for what they can produce, with the state funding its own operations by collecting interest instead of taxes, is the only solution which can possibly result in any form of lasting freedom or prosperity for the population. The very few instances in history where this has been done, are the only instances in history where money has done anything other than create hardship and misery for people, as it was not controlled by those who wished to inflict the same for the sake of establishing power for themselves, and could also be supplied in adequate quantities. Unfortunately, by the time the revolution was done, the British banks had gotten their hooks into Alexander Hamilton, who got them re-involved in our economic system, which was the primary reason for the revolution in the first place, so if we manage to survive this, and ever wish to prosper, it will involve going back to a true American economic system, such as was in place prior to it being outlawed by King George and the British banks. Currency is a public asset used by absolutely everyone who is a member of the public, and it needs to be under public control. We’ve all seen the effects of allowing it to be manipulated by private interests at the public’s expense and should know better, but most still don’t.
Bottom line, we as a population are capable of producing an awful lot of useful goods and services, and the more we can produce, the better off everyone will be, and this is all that matters. You can’t eat money or credit, nor will it keep you warm in the winter time, but a cow, a chicken and a house will do both. The only thing we need money for, is for the guy who builds the farmer’s tractor to pay the guy who supplies the iron and steel, who then can use that money to pay the carpenter to build him a house, who can all use the money they earn buy food from the farmer so that he can afford to buy the tractor that gets it all started. If that was the only purpose money served then it would be a good thing. We just have to produce the currency and credit for the benefit of those producing, and not for the purpose of establishing progressively more power for parasites who neither build anything, fix anything or feed anyone. It is indeed a simple thing, if only the general population were smart or wise enough to think and figure it out, instead of wanting to be told what to do, with the banks having the money and power to do the telling, then it would accomplish exactly this.
What we have now, is the carpenter goes hungry, because the guy at the steel mill can’t afford to pay for the house he needs, because the guy who builds the farmers tractor can’t by the steel to make it from him because the farmer can’t afford the tractor, because the rest of them aren’t buying his food, because the F’ing banks have drained all the money from the system and there is nothing left to pay for any of this. Yet 99 % of the population of this country is still too damn stupid and ignorant to figure out that United States currency belongs to them and not to the bank, and that they, through their elected representatives, can and should be creating it for their own benefit and no one else’s.
Oh what a bunch of stupid sheep we are.
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[RP quote]
¨In this 1988 interview, Ron Paul talks about money, banking and the Federal Reserve, and predicts the current financial crisis.¨
First of all, Mike formally published the theses of inevitable failure in 1979: a) that any pretended economy subject to interest inevitably terminates itself under insoluble debt; and b) that there is one and one only integral solution to the categoric faults of the imposed systems: 1) inflation and deflation; 2) systemic manipulation of the cost or value of money or property; and 3) inherent, irreversible multiplication of artificial indebtedness by interest.
Secondly, he furnished the Reagan Administration with computer models which projected the present failure, proving the first thesis (a) — which models c) you can still download, complete with source code from our pages; d) run 1980s data; and e) still project that the present failure will occur at approximately 2010 AD.
Thirdly, it is utterly preposterous that any Austrian “economist” could have projected the present failure; and every person here with the least familiarity with this pseudo science knows why:
The Austrians routinely reject mathematics; and they in fact exalt interest — the very cause of failure!
The reason nonetheless that Austrians and Hayek in particular exalt interest (with no mathematic or rational defense whatever), Hayek himself tells us: It makes “banking” (obfuscating the promissory notes of the people) “an extremely profitable business.” (See Mises page, reproducing Hayek’s article: “A Free-market Monetary System.”)
“Freedom” is Hayek’s first lie, for there is no freedom even from terminal exploitation, when the purported “Free Market Monetary System” is imposed upon the people despite political promises to the contrary, and when it can only multiply artificial indebtedness in proportion to capacity to pay, as the unassenting subjects are forced to maintain a vital circulation by perpetually re-borrowing principal and interest as ever greater sums of artificial debt, perpetually increased so much as periodic interest on an ever greater sum of debt, until of course the sum of artificial indebtedness exceeds their (finite) capacity to pay, destroys their credit-worthiness to maintain a vital circulation — and you have what you have right now, everywhere around you.
That’s freedom, Mr. Austrian “economists?”
In fact the lie of your pretended economy can only multiply artificial cost!
Now, to say you predicted the present failure, even as it is the one possible fundamental consequence of the interest you advocate — that is one of the greatest lies in history.
But it won’t fly.
http://endtheecb.ning.com
http://www.perfecteconomy.com
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Dear Stojan,
For a presentation of Mathematically Perfected Economy (MPE), by Mike Montagne please visit this link:
http://endtheecb.ning.com/video/mathematically-perfected
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Dear Mr. Jack, the answer is formula: dM = kM ; k = (supply – demand)/demand ;
k = 5%. If 5% is right, inflation cannot exist. If is not, little correction is sufficient. It is all.
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Dear Stojan,
This is the very set of principles — and the only set of principles which ensure the immutable value of money across its lifespan — a perpetual 1:1:1 relationship between remaining value, remaining *obligation*, and currency in circulation — what is an “Austrian economist” doing complaining about the preservation of value of money, that they can take unearned and unjustified profit?
Well… obviously, that’s the point of being an “Austrian economist” — and it’s just why they argue so ignorantly, and reject all accountable argument — because it comes back to their lack of principle. They are the problem.
There is no mystery to projecting the pattern of failure engendered by any purported economy subject to interest. Everything around you can be understood from the obvious consequences.
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Austrian Economics is not the answer. Gold is not the answer. Ron Paul´s idea´s are not the answer.
JOIN THE DISCUSSION HERE:
http://endthefedusa.ning.com/forum/topics/austrian-economics-is-not-the
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