Day 14

5 Responses to Day 14

1. 

   race_to_the_bottom on October 21, 2011 at 5:34 pm

   A discussion around economics is extremely important and is an area of which people are extremely ignorant. Worse, the economic profession has been bought and paid for by finance capital and does not describe reality. It outright lies. In fact its purpose is to provide a smokescreen to allow finance capital to plunder the people. it is ESSENTIAL that people in the movement develop a clear understanding of money. NO REAL CHANGE is possible until we do and it is not beyond the understanding of ordinary people, even though Wall Street propagandists insist that only they can understand economics. Do most people know where money comes from? No. Do you know? The government does NOT create our money. Our money is created by private commercial banks or the quasi private Federal Reserve. When you go to a bank for a loan, where does the money come from? From the deposit I made yesterday? Most people would say yes, but the truth is that the money was created on the spot CREATED ON THE SPOT in the bank as soon as you signed the paperwork! The same is true when you use a credit card. The money is created on the spot! It is called fractional reserve banking and this is what people should be focusing on rather than simply railing at the Federal Reserve. The Fed is merely the creature of finance capital, not finance capital itself.

   The constitution gives Congress the right to “coin money”, but only issues a few percent of the money supply. It could, if it wished, create the entire money supply interest free. It has done so in the past. It financed the Civil War this way, saving huge amounts of interest. It doesn’t not have to borrow a cent. It can issue as much money as necessary to create a full employment economy without inflation! Why doesn’t it do this? Because finance capital controls almost the entire money supply and collects interest on it. Part of the proceeds go to buy politicians, think tanks, and university economics departments.

   If we want to build a new economic order, then we must educate ourselves. We must know that there IS A WAY to retire the national debt, end most taxes, control the banks, have free medical care, and education and be prosperous beyond anyone’s imagination. It all revolves around public control of the creation of money. I am 63 years old and have always been a avid reader of economics and politics, but until recently I was unclear on this question. Then I read a book and it was like a fog had lifted and everything became very clear. I strongly recommend that you do the same. The book is WEB OF DEBT, by Ellen Hodgson Brown. There is a website http://www.webofdebt.com/. This should be required reading for everyone in the movement.

   Furthermore, there is an organization, the American Monetary Institute, http://www.monetary.org/ which has been promoting legislation to reform the monetary system to fold the functions of the Fed into the treasury and to end fractional reserve banking. After this act passes, all money will be issued by the treasury interest free. Here you can read about Dennis Kucinich efforts to introduce legislation in Congress. There is also a really heavy book, THE LOST SCIENCE OF MONEY which explains money and how we can get control of it.

   Also, if you go to youtube.com and search for “fractional reserve banking” you will find some videos which clearly explain how the scam works. This is actually a better place to start rather than the books because it is easier and will provide a broad framework. These videos are also easier to post so that we can help educate as many people as possible.

   Again, it is important that we have a clear understanding of money, finance, and taxes. If we want to build this movement, we MUST know how to speak in the language of true, classical economics so that we can explain precisely to the US people how we plan to proceed. This is because the enemy has long experience in creating an alternative reality in the minds of the people. We must help them disperse the fog which creates a completely false understanding of the science of economics and money.

2. 

   mam on October 21, 2011 at 8:33 pm

   The media is brilliant. Keep up the great work. Y’all are genius.

3. 

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