I think it’s pretty obvious banks and the military now have more power than the president in the states… we were all deceived… unfortunately, Obama is as brainwashed as anybody else
OK, tell me why the U.S. government can’t do what the Fed is doing with one exception, the government does not charge itself interest. Fiat money is fiat money. Come on people. We know the dollar is worth maybe a nickle. We know that credit is created out of thin air using the fractional reserve lending system. We know that the Federal Reserve is monetizing bank debt at zero interest rates. We know that the Plunge Protection Team is manipulating currency, gold and leading indicator stocks trying to make silk purses out of pigs asses. We know the Fed’s backdoor operations pushed $23.4 trillion into domestic and international banks in just the last 12 months through direct investment, guarantees, and loans.
We don’t need to know how many angels can dance on the head of pin, or other comparative data.
We simply need to get Americans briefed on the crap that the Fed is doing and how it puts us all in the poor house today and forever. Ellen Brown’s “The Web of Debt”, may not have all the answers, but it’s a starting point. Clearly, if scrip and Greenbacks and JFKs Silver Certificates were viable alternatives in their time as replacements for debt currency, what makes those alternatives infeasible today?
A variant: We have 20 million unemployed/underemployed Americans and maybe millions more who don’t report. The Administration needs to issue debt free dollars for public infrastructure rehab, greening projects, etc. to absorb these idle resources. If it takes a $trillion over ten years, that’s what it takes. At the same time the Fed will need to issue that trillion without charging interest. For that matter the Fed should be forced into a ten year moratorium on interest charged to the Federal Government. We’re talking about ledger entries made with mouse clicks. The Treasury can do this just as easily as the Fed. The difference is the Fed has to pay its bondholders. The Teasury doesn’t
Simultaneously, as the Fed redeems debt it needs to liquidate those instruments and not roll them over as is current practice. Liquidating these instruments eliminates inflationary pressures.
Davos,
Did you know N. Dakota is the only state with 2010 budget surplus attributed to its conservative monetary policy operating through its state owned bank, the BND?
Appears to be something other states would want to emulate. Since they can convert state assets to capitalize a bank and use fractional reserve principles to monetize state debt, buy local bonds, and collaborate with commercial banks to buy down interest rates on just about anything financed in the state.
Robbarian,
First off welcome to the CM website, somebody should have given you a gift basket and a warm welcome after your first post… but if they didn’t oh well… its still a great community.
Your post was excellent and strikes a chord with alot of people around here… the key phrase being ‘people around here’. very few people outside of this site are aware of what is going on and the unemployed and underemployed are blaming there problems on the symptoms, not the cause.
The national federal debt in 2003 was around $5.5T and in 2009 it is over $12T. It has more than doubled in the span of 6 years and is expected to double again in the next 5 years! The question we have to ask is will this matter? Will the system break? And if it does matter will the cause of the crisis (answer: an exponential monetary system) be diagnosed correctly or will it be blamed on some other country, person, or political party?
Does it really matter if you or I convince one other person of the importance of this issue? I don’t think it will but it won’t stop me from trying and I ask that you to do the same. Too many people on the internet are bangin’ thier fist on the internet and not doing anything else, what good does that do? I say its a worthless effort…
My advice to you (since you seem very educated and ‘you get it’) is to get out and teach others. I am motivated by my children to get out there, find out what motivates you and do it.
Steve
raised on x-mas eve/day…just like you guessed…good call Dr M, I guess it is no surprise though
So, to raise it to 12.4T seems absolutly pointless, especially now that health care is being rammed through…what do you all think is the reason? I mean,right now we are at almost 12.2T right now. We are averaging 200Billion a month almost.
They will just need to raise it again in about 2 months.
Any thoughts?
It's because we have had it so good, and even now most people have no clue about what's going on. I was one of the oblivious masses until recently when I needed to rollover a 401K to and IRA and I started to do research on what to invest in. I had seen a couple of links to Peter Schiff and started to reseach investments, read his book and really became alarmed. For the next 6 months I did a huge amount of research into liberty issues, monetary issues, political issues, etc. I was awake and terrified at what I was finding. I was aimed at the "Crash Course" by someone at a Ron Paul event. Since then I have been trying to educate friends, family, neighbors, co-workers, business owners at business that I frequent.machinehead wrote:Supposedly the average American has about 14 years of formal education. It isn't working. People who can't figure out that we're going backrupt, after forgetting to demobilize for 64 years after the world war ended, are functionally retarded. And such a discussion is not even on the political radar screen.
I think people will surprise you once they awake. Some will come around slowly, as the first step as Chris points out is denial. I have friends that after 6-8 months of thinking I was a complete lunatic have begun to take action. You have to plant the seed, let it fester as they see headlines and begin to think about all those issues most of us have ignored and viewed as just a foot note in the latest news article (Fed, monetary policy, interest rates, …). I think Chris is right in that there will be a sudden “oh shit” moment when a vast number of people will realize the game and if you aren’t prepared before then, you will be trampled in the stampede.