There are quite a number of important political issues that are virtually screaming out for true reform, but if I had to pick the two most important, they would be (a) election reform, and (b) the subject of this thread -- monetary reform. If I had the power, I would simultaneously
liquidate all of the ill-gotten assets of criminal scam artists like Henry Paulson and Bernard Madoff, and use the resultant proceeds to help replenish whatever retirement funds they raided; and replace our current debt-based money system with a debt-free money system, whereby all new money -- instead of being loaned into circulation at interest -- is spent into circulation interest-free to fund the production of public goods everyone can see and benefit from (e.g., roads and bridges), and at a rate pegged by law to objective criteria such as population growth and the general price level. Now, since derivatives are just glorified gambling bets, and since the derivatives bubble dwarfs not only the most liberal estimate of the U.S. money suppply, but the annual productive output of the entire planet, I think it's important to stress that the monetary issue is actually composed of two logically distinct sub-issues: (a) derivatives, and (b) fractional reserve banking. In the following posts I'll address each of those sub-issues in turn. | |||
-geolibertarian
________________________
Of all the artricles I've read concerning derivatives, I've yet to see one in which the issue of "consideration" is specifically addressed. For those unfamiliar with the concept of "consideration" as it relates to finance, allow me to provide a brief introduction. First there's the following clip: http://youtube.com/watch?v=hRzHDwQUJa0 Then there's the following written explanation (which, although excerpted from a web site based in India, is nevertheless the most straightforward explanation I've seen yet): ------------------------------------------- http://business.gov.in/manage_business/contracts_elements.php Essential Elements of a Contract Minimum two parties: At least two parties are needed to enter into a contact. One party has to make an offer and other must accept it. The person who makes the 'proposal' or 'offer' is called the 'promisor' or 'offeror'. While, the person to whom the offer is made is called the 'offeree' and the person who accepts the offer is called the 'acceptor'.... Lawful consideration: A contract is basically a bargain between two parties, each receiving 'something' of value or benefit to them. This 'something' is described in law as 'consideration'. Consideration is an essential element of a valid contract. It is the price for which the promise of the other is bought. A contract without consideration is void. The consideration may be in the form of money, services rendered, goods exchanged or a sacrifice which is of value to the other party. This consideration may be past, present or future, but it must be lawful.... Lawful object: The object of the agreement must be lawful. An agreement is unlawful, if it is: (i) illegal (ii) immoral (iii) fraudulent (iv) of a nature that, if permitted, it would defeat the provisions of any law (v) causes injury to the person or property of another (vi) opposed to public policy. ------------------------------------------- As some of you may already know, an airtight case could be made for invalidating virtually all bank loans on the ground that no "lawful consideration" was made on the part of the banks, since the "money" they offer as consideration for the borrower's promise to repay doesn't really exist. (Ellen Brown explains this more thoroughly here.) I oppose invalidating traditional bank loans, however, because doing so would cause the entire money supply to collapse and the economy along with it. That's where "converting the existing volume of bank credit into actual money having an existence independent of debt" (while simultaneously abolishing fractional reserve banking) comes in. Derivatives, however, are another story. Allow me to explain, as best I can, why derivatives contracts are more fraudulent -- and many times more parasitic and destructive -- than even fractional reserve lending, and why they should be invalidated accordingly. When a regular bank loan is made, the collateral-backed IOU offered by the borrower becomes an "asset" of the bank, while the money offered by the bank becomes an "asset" of the borrower. Granted, the so-called "money" offered by the bank doesn't even exist until the very moment the loan is extended, and even then exists only as a bookkeeping entry; but at least each party is going through the pretense of offering one legitimate financial asset as "lawful consideration" for another. Such is not the case with derivatives, because these are mere bets as to whether a given asset will go up in market value. Ellen Brown explains it this way (all emphasis original): ------------------------------------------- In a 1998 interview, John Hoefle, the banking columnist for EIR [Executive Intelligence Review], clarified the derivatives phenomenon using another colorful analogy. He said:
What has broken the connection between "the blood available and the amount you can trade" is that derivatives are not assets. They are just bets on what the asset will do, and the bet can be placed with very little "real" money down. Most of the money is borrowed from banks that create it on a computer screen as it is lent. The connection with reality has been severed so completely that the market for over-the-counter derivatives has now reached many times the money supply of the world. Since these private bets are unreported and unregulated, nobody knows exactly how much money is riding on them; but the Bank for International Settlements reported that in the first half of 2006, their "notional value" had soared to a record $370 trillion. The notional value of a derivative is a hypothetical number described as "the number of units of an asset underlying the contract, multiplied by the spot price of the asset." Synonyms for "notional" include "fanciful, not based on fact, dubious, imaginary." Just how fanciful these values actually are is evident in the numbers: $370 trillion is 28 times the $13 trillion annual output of the entire U.S. economy. In 2005, the total annual productive output of the world was only $44.4 trillion.... How are these astronomical derivative sums even possible? The answer, again, is that derivatives are just bets, and gamblers can bet any amount of money they want. Gary Novak is a scientist with a website devoted to simplifying complex issues. He writes, "It's like two persons flipping a coin for a trillion dollars, and afterwards someone owes a trillion dollars which never existed." He calls it "funny money." Like the Mississippi Bubble, the derivatives bubble is built on something that doesn't really exist; and when the losers cannot afford to pay up on their futures bets, the scheme must collapse. Either that, or the taxpayers will be saddled with the bill for the largest bailout in history. -- Web of Debt, pp. 195-97 ------------------------------------------- (Note the last setence in the above excerpt -- in which Ellen Brown refers to the "largest bailout in history" -- and consider the fact that her book was published in 2007!) In light of the above, may I correctly assume that the person reading this will agree with me when I say that author Webster Tarpley was absolutely spot on when he wrote the following?
J.P. Morgan Chase, therefore, performs no useful or productive social function, and there is absolutely no reason in the world why the people of the United States should want to bail out this pernicious and socially destructive institution. It has probably been several decades since J.P. Morgan Chase created a single modern productive job. J.P. Morgan Chase's strategic commitment in favor of the derivatives bubble means essentially that we can easily dispense with most of the functions of this self-styled "bank," really a casino. Instead of being bailed out, J.P. Morgan Chase ought therefore to be seized by the Federal Deposit Insurance Corporation, and put through chapter 11 bankruptcy. In the course of that bankruptcy reorganization, the entire derivatives book of J.P. Morgan Chase must be deleted, shredded, used as a Yule log, or employed to stoke a festive bonfire of the derivatives. The world did much better when there were no derivatives, and will get along just fine without them. |
| ||||
Logged -geolibertarian
____________________________________
We need election reform, monetary reform, and for everyone to watch:
http://video.google.com/videoplay
For anyone new to this, below are five additional monetary reform measures, any one of which would be an enormous improvement over the current system:
The Monetary Reform Act
http://www.youtube.com/watch?v=nNumEm2NzQA
http://www.themoneymasters.com/mra.htm
The American Monetary Act
http://www.infowars.com/?p=4174
http://jurisvodcast.com/2008/08/30/the-american-monetary-act/
http://www.monetary.org/amacolorpamphlet.pdf <--- .pdf file!
The American Transportation Act
http://www.wealthmoney.org/solution.html
http://www.wealthmoney.org/happen.html
Ellen Brown's Monetary Proposal
http://webofdebt.wordpress.com/monetary-proposal/
Richard C. Cook’s “Greenback and National Dividend” Proposal
http://www.globalresearch.ca/index.php?context=va&aid=12932
_______________________________
The First Great Depression was caused by 3 main factors
1) The Gold Standard Combined with the FED
2) The then equivilent to Derivatives
3) De-Regulation of the entire speculation system
A Derivative, in the 1930's when Franklin Roosevelt took office was called an option. Since 1901, When Traitor Teddy Roosevelt destroyed lincolns system with the Gold Standard, the Nation began to slowly de-industrialize.
A Derivative is essentially a mass of toxic unpayable mortgages or (futures of mortgages) that are worthless. They are "Exotic investment vehicles" That the private banking sector promised tremendous returns on, in todays case a mass of unpayable mortgages.
There is a 1.5 Quadrillion Dollar bubble of these Derivatives in the system today. This means there is 1.5 Quadrillion dollars of unprinted financial obligations that must be either A) Printed and paid off or B) Frozen
So, in regards to 1920-1932, this was a tremendous bubble that was blown out over the course of 13 years under the Treaury Secretary Andrew Mellon in which the Federal Reserve issued 100 Billion dollars in Gold Convertable FED Notes with only 4 Billion in Reserves. The bubble was created, by the private sector and on the Gold Standard, thus, by the time FDR took office, the entire system was collapsing and there was no way to rebuild the nation that had been de-industrialized for decades after the destruction of the Greenback / Credit system.
When FDR took office in 1933, the entire system had failed after "Free Marketeer" Herbert Hoover pumped banks full of money and accomplished nothing but destroying the United States Banking system. When FDR was inuagurated people were unable to cash checks or make cash withdrawals at most banks. He immediately put the entire system into bankruptcy as opposed to "Bailing out banks, and allowing the markets to correct themselves"...................
Eventually after freezing many speculations and using the bankrupt FED to monetize federal loans and rebuild the nations basic infrastructure, he signed a law banning all Derivatives, or "Options", which are nothing more then speculations meant to destroy the economy and allow bankers to loot the Nation.
Contrary to the Austrian myth that the Private Sector can never make a mistake, and an invisible hand will swoop down and fix the system, on this occasion and every prior occasion a domestic Gold Standard was implimented in the United States, it resulted in an uncorrectable Depression which required Government Intervention. This is a historic fact that they will continue to ignore until the 9th gate of hell opens.
Either way, as for your question in particular, Reagan was put into office after 15 years of Monetarism, which is simply the beleif that money can be printed (in the form of gold or paper) with intinisic value and that all Government Regulations are bad for the economy. This is an idea based on the concept of a "Post Industrial Society" and a "Consumer Economy", which is a myth as well. Prior to reagans election, there was a depression caused by Nixon/Kissinger's Vietnam War, followed by Jimmy Carter and Paul Volker by raising the FED prime rate to 23% and destroying the industrial base of the United States, hence the Reaganites came in and de-regulated the financial markets to substitute for physical production. This lasted for 20 years until the bottom of the system fell out and we are now experiancing the ramifications of
A) Monetarist De-Regulation, specifically in the form of Derivatives (Speculations)
B) A Nation without updated Infrastructure, that is literally collapsing, which is required for a productive economy to function (Bridges, Freight Trains, Mass Transit, Roadways, Water Treatment Plants, Power plants).
C) A Private Bank issueing our currency with no Congressional or Treasury Control that colludes with the Treasury. This is Fascism in reality, because the Treasury Secretary is colluding with a Private Bank (The Federal Reserve)
So, we are now dealing with a Post Industrial Wreckage field of an economy, of which the basic infrastructure is collapsing and the entire system is bankrupt. Some people advocate we "Allow the system to collapse", but neglect to realize that if we do indeed follow these insane methods, it will blow the entire world economy out overnight and the economy will grind a complete halt. We will literally end up, in the stone age - you will probably have to hunt for food , that is if you can get around the military who will surely be called in to quell the chaos of an economic collapse in the form of Martial Law.
The proposals in this thread are alternatives to the insane methods, that would not result in genocide on a scale never before witnessed.
-Revolt 426
http://video.google.com/videoplay
For anyone new to this, below are five additional monetary reform measures, any one of which would be an enormous improvement over the current system:
The Monetary Reform Act
http://www.youtube.com/watch?v=nNumEm2NzQA
http://www.themoneymasters.com/mra.htm
The American Monetary Act
http://www.infowars.com/?p=4174
http://jurisvodcast.com/2008/08/30/the-american-monetary-act/
http://www.monetary.org/amacolorpamphlet.pdf <--- .pdf file!
The American Transportation Act
http://www.wealthmoney.org/solution.html
http://www.wealthmoney.org/happen.html
Ellen Brown's Monetary Proposal
http://webofdebt.wordpress.com/monetary-proposal/
Richard C. Cook’s “Greenback and National Dividend” Proposal
http://www.globalresearch.ca/index.php?context=va&aid=12932
_______________________________
The First Great Depression was caused by 3 main factors
1) The Gold Standard Combined with the FED
2) The then equivilent to Derivatives
3) De-Regulation of the entire speculation system
A Derivative, in the 1930's when Franklin Roosevelt took office was called an option. Since 1901, When Traitor Teddy Roosevelt destroyed lincolns system with the Gold Standard, the Nation began to slowly de-industrialize.
A Derivative is essentially a mass of toxic unpayable mortgages or (futures of mortgages) that are worthless. They are "Exotic investment vehicles" That the private banking sector promised tremendous returns on, in todays case a mass of unpayable mortgages.
There is a 1.5 Quadrillion Dollar bubble of these Derivatives in the system today. This means there is 1.5 Quadrillion dollars of unprinted financial obligations that must be either A) Printed and paid off or B) Frozen
So, in regards to 1920-1932, this was a tremendous bubble that was blown out over the course of 13 years under the Treaury Secretary Andrew Mellon in which the Federal Reserve issued 100 Billion dollars in Gold Convertable FED Notes with only 4 Billion in Reserves. The bubble was created, by the private sector and on the Gold Standard, thus, by the time FDR took office, the entire system was collapsing and there was no way to rebuild the nation that had been de-industrialized for decades after the destruction of the Greenback / Credit system.
When FDR took office in 1933, the entire system had failed after "Free Marketeer" Herbert Hoover pumped banks full of money and accomplished nothing but destroying the United States Banking system. When FDR was inuagurated people were unable to cash checks or make cash withdrawals at most banks. He immediately put the entire system into bankruptcy as opposed to "Bailing out banks, and allowing the markets to correct themselves"...................
Eventually after freezing many speculations and using the bankrupt FED to monetize federal loans and rebuild the nations basic infrastructure, he signed a law banning all Derivatives, or "Options", which are nothing more then speculations meant to destroy the economy and allow bankers to loot the Nation.
Contrary to the Austrian myth that the Private Sector can never make a mistake, and an invisible hand will swoop down and fix the system, on this occasion and every prior occasion a domestic Gold Standard was implimented in the United States, it resulted in an uncorrectable Depression which required Government Intervention. This is a historic fact that they will continue to ignore until the 9th gate of hell opens.
Either way, as for your question in particular, Reagan was put into office after 15 years of Monetarism, which is simply the beleif that money can be printed (in the form of gold or paper) with intinisic value and that all Government Regulations are bad for the economy. This is an idea based on the concept of a "Post Industrial Society" and a "Consumer Economy", which is a myth as well. Prior to reagans election, there was a depression caused by Nixon/Kissinger's Vietnam War, followed by Jimmy Carter and Paul Volker by raising the FED prime rate to 23% and destroying the industrial base of the United States, hence the Reaganites came in and de-regulated the financial markets to substitute for physical production. This lasted for 20 years until the bottom of the system fell out and we are now experiancing the ramifications of
A) Monetarist De-Regulation, specifically in the form of Derivatives (Speculations)
B) A Nation without updated Infrastructure, that is literally collapsing, which is required for a productive economy to function (Bridges, Freight Trains, Mass Transit, Roadways, Water Treatment Plants, Power plants).
C) A Private Bank issueing our currency with no Congressional or Treasury Control that colludes with the Treasury. This is Fascism in reality, because the Treasury Secretary is colluding with a Private Bank (The Federal Reserve)
So, we are now dealing with a Post Industrial Wreckage field of an economy, of which the basic infrastructure is collapsing and the entire system is bankrupt. Some people advocate we "Allow the system to collapse", but neglect to realize that if we do indeed follow these insane methods, it will blow the entire world economy out overnight and the economy will grind a complete halt. We will literally end up, in the stone age - you will probably have to hunt for food , that is if you can get around the military who will surely be called in to quell the chaos of an economic collapse in the form of Martial Law.
The proposals in this thread are alternatives to the insane methods, that would not result in genocide on a scale never before witnessed.
-Revolt 426
__________________________
I come up with it from doing REAL research as opposed to being a "GOOGLE" Researcher. Here , go educate yourself instead of posting nonsense propaganda from the AMERICAN LIBERTY LEAGUE:
http://coat.ncf.ca/our_magazine/links/53/all-both.html
http://www.tarpley.net/29crash.htm
PART 7
BRITISH FINANCIAL WARFARE: 1929; 1931- 33
HOW THE CITY OF LONDON CREATED THE GREAT DEPRESSION
by Webster G. Tarpley
December, 1996
____________________
Hey Clearmyst, FDR was surely not perfect however, the New Deal was an expermental process. Things were done right, things were done incorrectly.
There are MASSES of Dis-Information on the net about FDR, it would require going to an actual bookstore or amazon and ordering a detailed book on him , and reading his quotes to actually understand his intentions. A fellow by the name of Shayler has written a complete book of BS about FDR and it is circulating around the world/net. I would suggest reading about his history has a Naval officer, there are some interesting things to be read.
It is absurd to call FDR a fascist ( i am not saying you did this, nor is this directed at you, however it is a common theme to associate FDR with Keynes, which is nonsense, infact they argued throughout the entire Bretton Woods Conference about a 1 world currency) considering a group of fascist bankers header by JP Morgan tried to assassinate and overthrow him.
The key thing to understand about Roosevelt's Infrastructure policy is, it was not Spending money - it was Federal Credit, or simply an investment for the Nation based on Lincolns economic policy.
Aspects of the New Deal / FDR that were correct things to do considering the crisis:
1) Put the insolvent FED into Bankruptcy for the issuence of 100 billion dollars in Gold Convertable Currency in the prior 2 administrations with only 4 Billion in Gold Reserves (This leads to the de-coupling of gold from the dollar , quite obviously)
2) Using the FED during bankruptcy as a Federal Credit Window to the ECONOMY, not the Commercial Banking system for the sole purpose of investing in high tech infrastructure
3) Enacting some Social programs to stop elderly people from starving to death
4) The Bretton Woods System, an International Fixed Rate system anchored by gold, which in reality prevented speculators from creating bubbles from 1944 to 1971 when Kissinger and Nixon collapsed it.
Things FDR Did that were wrong:
1) Price Fixing in the Agriculture markets to fight Deflation
2) Allowing Congress to stomp on his Infrastructure policies in 1936 and caving into them, hence allowing the economy to re-collapse to some extent in 1937
3) (I cannot accuse him of caving into the FED because he died in 1944 before the war ended, his intentions were to take the machine tool capabilities of the War and convert them into Physical goods and infrastructure. However, if you must go there - He did not get rid of the FED.
As i said, the new deal was an experiment, based on Lincolns "Science Driver" economic policies of investing federal funds directly into infrastructure - there were some programs that ended up being detrimental to the country however as a whole, the New Deal actually in REALITY did save the country from complete economic melt down, contrary to the idiotic assumption that WW2 saved the US economy *LAUGH* we are in 2 wars right now, is it saving the economy? I Wish!.
-Revolt 426
__________________________________________
REALITY:
A select few people in this forum are completely delusional and think they can grasp history by using the CIA RUN GOOGLE SEARCH ENGINE, Including the person who has an obsessive fettish with lambasting FDR when he hasn't the SLIGHEST CLUE what FDR actually did, which is avert a TOTAL ECONOMIC COLLAPSE, which means MARTIAL LAW and the END OF THE UNITED STATES. So, now as we FACE A FAR GREATER DISASTER, 3 Famous People in American History have been SLANDERED to prevent people from LOOKING at what they ACTUALLY DID, including Alexander Hamilton, Abraham Lincoln and Franklin Roosevelt, who ALL USED THE SAME ECONOMIC POLICY.. So you have some kind of Anti-FDR Fettish based on LIES, the very same LIES that presume Andrew Jackson was a HERO when infact he wiped out the US economy and paved the way for the Civil War, the Very same LIES that accuse Hamilton of being a British Traitor, the Very same LIES that slander LINCOLN.
If you are unable to do anything other then copy/paste horse s__, then i think people will realize this.
There is HOARDS of disinformation all over the internet, and consiquently we have COPY/PASTER researchers whom haven't the slightest IDEA what they are yapping about, since they are copy/pasting SOURCELESS OR PROPAGATED information. In particular AMITY SHLAES, a character from the CFR and American Enterprise Institute
REALITY:
SOCIALISM: When the Government SEIZES MEANS OF PRODUCTION
REALITY:
FDR NEVER DID THAT
REALITY:
The ALTERNATIVE to the TRADING WITH THE ENEMY ACT was the COLLAPSE OF THE UNITED STATES. The FEDERAL RESERVE, ON THE GOLD STANDARD, issued 100 BILLION dollars in Gold Convertable Notes with 4 Billion in Gold. There was a RUN ON THE FED SYSTEM, People were HOARDING GOLD, and it HAD TO BE PUT INTO BANKRUPTCY and DECOUPLED FROM GOLD;
Quote
public right to know. Read the following Congressional quote:
"My investigation convinced me that during the last quarter of a century the average production of gold has been falling off considerably. The gold mines of the world are practically exhausted. There is only about $11,000,000,000 in gold in the world, with the United States owning a little more than four billions. We have more than $100,000,000,000 in debts payable in gold of the present weight and fineness. . . As a practical proposition these contracts cannot be collected in gold for the obvious reason that the gold supply of the entire world is not sufficient to make payment."
-- Congressional Record, Congressman Dies, March 15, 1933.
REALITY:
FDR HAD NO INVOLVENMENT IN PEARL HARBOR, which was orchestrated by the BRITISH and MOLES in the NAVY.
http://forum.prisonplanet.com/index.php?topic=88303
Webster G. Tarpley Debunks Pearl Harbor Myths (And British Spy Ring EXPOSED)
REALITY
AN ECONOMY cannot FUNCTION without INFRASTRUCTURE (Without a ROAD you cannot TRANSPORT goods, WITHOUT POWER you cannot have a FACTORY).
FRANKLIN ROOSEVELT put ALL INSOLVENT BANKS into BANKRUPTCY after his FIRST DAY IN OFFICE, including the FEDERAL RESERVE and USED IT to monetize FEDERAL LOANS to rebuild the NATIONS INFRASTRUCTURE, which had been DESTROYED from 1901 to 1932.
Example; The Tennesse Valley Authority provided power to rural farms when the PRIVATE SECTOR WAS BANKRUPT, and RE-INDUSTRIALIZED the AREA.
REALITY:
The AMERICAN LIBERTY LEAGUE, Funded by JP Morgan, The DuPonts, The Rockefellers and the gang, attempted to assassinate and OVERTHROW FDR.
Link WITH SOURCES
http://www.larouchepub.com/other/2006/3332morgan_coup_plot.html
The Morgan Fascist Coup Plot
and How FDR Defeated It
REALITY:
FDR Argued with Churchill over British Imperialism on numerous occasions, here is ONE witnessed by FDR's SON ELLIOT ROOSEVELT;
http://www.larouchepub.com/eiw/public/2007/2007_1-9/2007_1-9/2007-7/pdf/7-8_707_feat-2.pdf
REALITY:
The American Liberty League , EXPOSED BY SMEDLY BUTLER quite obviously did NOT COOPERATE with FDR, considering they tried to KILL HIM.
LINK WITH SOURCES:
http://coat.ncf.ca/our_magazine/links/53/all-both.html
Lurking in the background behind the plot to oust FDR was the American Liberty League, a pro-business think-tank and ultra-right wing lobby group. Its treasurer was Jerry MacGuire’s boss, Grayson Murphy, a leading J.P. Morgan broker. One of its top donors was Robert Clark, who also tried to recruit General Smedley Butler into the conspiracy to oust President Franklin D. Roosevelt.
General Butler testified to the MacCormack-Dickstein Committee that when he asked whether anything was “stirring” with regards to Jerry MacGuire’s wealthy backers’ plans for a “superorganization” to coordinate the coup against FDR, MacGuire predicted the American Liberty League’s emergence, saying: “Yes, you watch; in two or three weeks you will see it come out in the paper. There will be big fellows in it. This is to be the background of it.”
-Revolt 426
_______________________________
Notice how the above post, once again is SOURCELESS NONSENSE..... A pattern emerges again... What a Suprise.
I would advise people to do their OWN research from actual BOOKS on Franklin Roosevelt.
Everything This clown has mentioned has been debunked and he reposts the same crap each and every instance, for what reason?
I haven't the slighest idea.......
He appearently is in a CULT?... or Perhaps he has an Anti-FDR fettish ,
However, if you are to call FDR a communist, you are also calling Abraham Lincoln , Benjaman Franklin, Alexander Hamilton , John Quincy Adams and Henry Clay COMMUNISTS.....
And , As we all know, None of the above ever seized markets, which is precisely what Communism is.... So, the slander of Roosevelt continues - a shame that one of about 4 Presidents in the last Century who was NOT controlled by the London/Wallstreet Fascists is slandered to prevent people from even glimpsing at what he actually did, which i mentioned in prior posts.
SOURCES ARE IMORTENT, Anyone can go ahead and re-write history, as shown by Lord Edward Cokes absurd insinutations....... "FDR did this, FDR did that" with absolutely NO PROOF.....
And too add to this, he is using Amity Shlaes, a Rupert Murdoch asset from the CFR and American Enterprise Institute as one of his ONLY sources for history - that is quite sad.
I've noticed you tend to change the subject everytime you are proved wrong. Is this a mental condition or are you just in denial?.
If you cannot understand that the FED sucks cash out of the US economy and destroys it with it's interest rates because it's a PRIVATE BANK, then you should probably go work in another area, economics is not for you. Where do you think the interest goes? do you think the Federal Reserve gives it to the Government to pay down the National Debt? No, actually ..... it's called a defacto inflation tax which allows the jackals to maintain domestic purchasing power of the dollar by sucking currency out of the physical economy (The PEOPLE) and allowing the banks to transfer the majority of profits to themselves , since the FED does indeed LEND money to the BANKS at X% Interest, and the BANKS in turn LEND MONEY to the "alleged" businesses that are supposed to produce goods at Y% Interest.(Or they use to, now they are insolvent). Y% Interest is far greated then X% interest in our case, so the banks indeed are sucking money from the economy and hoarding it, and the FED is indeed sucking money from the economy and destroying it.
And as for your economic text books, that is appearently your problem. You are just as educated as the jack____ at Harvard , Yale and Columbia that put us into this mess (Such as LARRY SUMMERS).
___________________
And the Bankers control 80+% of the Gold Supply , not to mention the 100 other problems associated with the Gold Standard including putting a Cap on population levels and horrid deflation. So the best way to do this is a State issued currency that is not capped but invested or spent directly into infrastructure to faciltitate the expanding population. The Water treatment plant example is one of the biggest necessities aside from updating our transit systems that are collapsing.
The destabalization of the 1930's was caused by the Gold Standard and a 30% Contracton in the money supply due to systematic bankruptcy.
The Destablization in the 1970's was caused by the collapsing of the Bretton Woods system (The international Gold Standard that fixed exchange rates) and the Vietnam war.
The most crucial issue that you do not address is the fact that this is a world wide systemic collapse of proportions never before witnessed by humanity and the insistance that cutting taxes and spending is going to rebuild the collapsed infrastructure system that drives the physical economy is absurd
-Revolt 426
-Revolt 426
http://forum.prisonplanet.com/index.php?topic=84736.40
________________________________-
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