The Bankster's mantra against debt-free money has always been that it creates massive inflation, when the contrary is true. Interest is the root cause of inflation, because we always need to borrow more to pay the interests and keep the Ponzi scheme going, otherwise everyone defaults and we go into depression.
So obviously the Banksters tried to counterfeit the debt-free legal tender to prove their ridiculous point everytime it's been tried on a large scale. But through the Bank of North Dakota, we see that money issued by government without interest works fine.
-Northern Light
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Bill...
FWIW, I thought SOZ was masterful. It is too much to digest in one or two sittings. As you know there are folks who disparage the fiat system per se some more vociferously than others for their own narrow interests. The clear historical truth presented both the ancient roman system and the later medieval "tally stick" system as evidence for their vitality. More contemporary history showed President Lincoln amazingly adept and flexible when considering his options during the civil war. That we are held hostage to larger and nefarious interests who would squeeze our common life from us is especially galling. While I intend to inform those in my circle of influence as much as I can, I truly wonder if this effort might be too little too late.
Practically speaking isn't the road to monetary reform running right through the congress? How would one propose reform without wholesale shift in the political attitude of the public AND who must also understand the idea of a debt free fiat based monetary system. The internet is a fantastic medium being so close to everyday people enough to imagine a reformation from bottom up. How do you see this practical integration of fiat system playing out.
A well respected survival blos known as "survivalblog.com" has a weekly viewer tally of over 200k visits. I'd like to post a response to a letter sent to that blog which mentioned SOZ and get your response:
JWR Replies: Mr. Still's documentary makes some valid points, most notably that debt-based currency in effect makes us slaves to the bankers. Mr. Still misses one key point: 100% redeemable precious metals backing for a currency effectively limits the quantity of paper money that is issued. This is an inherently better system that one in which politicians are entrusted to not to over-issue currency. A non-debt based currency issued by the government (not by bankers) and that is specie-backed is the best option. As our 20th President, James Garfield once wrote: "Whoever controls the volume of money in our country is absolute master of all industry and commerce...when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate. " Garfield was assassinated in 1881. OBTW, I recommend Mr. Still's previous documentary film project: The Money Masters.
The money quote here is, "Mr. Still misses one key point:....., .....is the best option."
Could you give that critique a shot?
God Bless
PE (politicaleconomy)
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| This is a very interesting thread. Gold cannot wrap arms and legs around me, look me in the eyes, and make me feel loved. Therefore, gold is just another object of the material world. Gold can be exchanged for something edible, but it cannot eaten. Thus, just like paper, it's only a means of exchange. Idolatry bad, very very bad! |
| killtheempire.blogspot.com |
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Why does Ron Paul and other Austrian school boy's choose to call it "sound money" when in it's an absolute fact they mean gold standard? It's because they know the gold standard will not do what they claim it will. They know the gold standard is discredited. So they are trying to hide the gold standard behind the nice sounding phrase sound money. It's no different than the tactic of calling the private central bank ruling over America "Federal Reserve." Same thing!
They cannot be so stupid as to not understand a gold standard would be the same as passing a law mandating perpetual depression and subjugation of national sovereignty to a monetary oligarchy. You should not be so stupid, or full of false hope, to believe they're just innocently unaware.
Ron Paul is a trojan horse. He's a fraud! He'll betray everyone just as Bush betrayed his supporters, and Obama betrayed his. If you want to be ruled by corporate global governance, then support Mont Pelerin's Austrian school boy's.
-killtheempire
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I agree with you. In fact the New Testament seems to support Sovereign money:
- KillTheEmpire
- Nov 28 2011, 02:04 AM
I've challenged gold bugs many times to prove the bible supports the gold standard. However, not one single gold bug has ever even attempted to take up the challenge.
"Show me the coin of the tribute. And they offered him a penny. And Jesus says to them: Whose image and inscription is this? They say to him: Caesar's. Then he says to them: Render therefore to Caesar the things that are Caesar's; and to God, the things that are God's. " - Matt 22:19, New Advent Version.
Jesus clearly understood money is issued by the government for the purpose of paying taxes.
As I like to say: Gold isn't God's wealth, YOU are!
All the things man considers to be wealth are merely the by-product of the human-mind. Therefore, it's insanity for people to place such faith in a metal, which depends upon mankind's knowledge to mine it.
-Kill the empire
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http://s6.zetaboards.com/Bill_Still_Reforum/topic/1177410/1/
| Here's a page talking about Paul's "sound money" plan which supposedly isn't a gold standard: http://www.nolanchart.com/article290.html The contradiction is that it says it's: 1.) A "gold backed currency" 2.) Not "price fixing" for each note to gold OK, if 1.) is true and it's truly a gold backed-currency that means if you have a dollar in your hand then by hell or high water if you go to the govt and demand $1 worth of gold they better give it to you. It used to be the gold fix was $35/oz, so that meant the govt would give you 1/35th an oz of gold for your $1. But in Ron Paul's plan it's 2.) not "price fixing". So in that case how does the government know how much gold to give you? Apparently it's whatever the current market rate of gold is. In other words if the market rate today is $1500/oz and the govt decides to go on a printing spree then tomorrow there might are twice as many dollars in circulation. Now the govt decides to only give you 1/3000th oz of gold for your $1 instead of $1/1500th. In that case no one would want to use dollars and would switch to gold coins, so that's the "safeguard" Ron Paul has in mind against excessive government spending. If the govt debases its currency then people will pay their taxes in gold coins instead. That means the govt will be forced to regulate the quantity of dollars so that the price of gold never rises in dollar terms because then people will stop using dollars. It also means that it won't let the price of gold fall in dollar terms because then it would be losing money on each transaction. That is, since the govt will have to have a huge store of gold in order to back the currency, whenever the price of gold falls it loses tons and tons of money. So if the govt can't let the price of gold go above $1500 and it can't let the price of gold to below $1500 then it has to lock the price right at exactly $1500! Ron Paul's plan is a gold standard! It's exactly what it was in the 19th century only instead of $35/oz it's $1500/oz. |
-nickn
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