I would rather invest my money with people who actually do the work of creating valuable tangible goods. Namely entrepreneurs, scientists, engineers, technicians, machine operators, robots, people who make and program robots, etc. The only think banks create are debt and inflation.
I should have chosen a different word. Pioneered can imply invented. What I meant was, fractional reserve lending became more widely used because of Nathan's success with it. There were several Nathan Rothschilds. My statement was referring to Nathan Mayer Rothschild, who was born in 1777.
The amount of money circulating is thus a constant.
False. Constants don't change -- that is why they are called constants. Bank A loans out 0.9*deposit_X, which then gets deposited into Bank B. Bank B then loans out 0.9*0.9*deposit_X. Rinse and repeat say 100 times. Money_created_from_thin_air = 0.9 + (0.9^2) +... + (0.9^100) = 9*deposit_X.
The ideal currency is one whose purchasing power remains constant over time. That could easily be done using a feedback control loop, such as a PID controller. Whenever there is inflation, the government could tax. Whenever there is deflation, the government could print debt free money. Either way, the government gets money, but under this system it can get some of the money without needing to tax it away from citizens. There is no need for a middle man (Federal Reserve Bank) to take its cut and give it to its private shareholders.
since the amount of money in the economy is set by an agency whose authority derives from Congress
You mean "derived", not "derives". The Fed was created by a very few members of Congress who were paid off by private bankers back in 1913. Desribe it however you want, but control of the Fed by the public is way too indirect. Period.
Yeah, it pretty much *is* a coincidence. Those actually familiar with history know that the Government has been borrowing (and repaying) money since the days of the Revolutionary War.
If you are implying that the Government has always been borrowing money since the days of the Revolutionary War, you are wrong. Lincoln's greenbacks issued during the Civil War were debt free currency. Coins created at the US mint even today are also debt free currency.
I'll get on that as soon as I finish the The Protocols of the Elders of Zion.
Federal Reserve Act : Section 7
"Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom shall be exempt from federal state, and local taxation, except taxes upon real estate."
Any single bank can only lend out 90%, but the amount of money supply expansion ends up being roughly 900% after many deposit/lend cycles occur.
As I was saying, the value of money is determined by the quantity. According to the Constitution, the value (and hence quantity) should be determined by Congress, who is supposed to be accountable to the public, but in reality is mostly bought off by corporations through lobbyists.
If I were to print money in my basement, I would go to jail. Why then are banks allowed to do it? Banks get to create money out of thin air every time they get people to sign a loan. This is because they are allowed to loan out 9x more money than they take in from people making deposits. That is why banks LOVE it when you deposit money in your savings account because it gives them permission to loan out 9x more money. Not only can they collect interest on that money that they create out of thin air, but if you can't pay them back, they get to seize your assets!
The hand that giveth is above the hand that receiveth. Private banks are above the governments who borrow money from them. Bankers are the masters of deception and fraud. The only things they create are debt and inflation through fractional reserve lending (fraud). Both of those are bad. They create all kinds of problems (such as the "business cycle"), and force people to participate in speculative investing or else watch their savings get inflated away.
Fractional reserve lending was pioneered by Nathan Rothschild and stemmed from greed -- he wanted to lend out more gold than he actually had! Anytime a bank expands the money supply by loaning out more money than they actually have, they are stealing from you who have saved. I understand the need to expand the money supply in order to prevent deflation. However, the government, not a private central bank, should be the one to do that. If the government created money, then they could spend that money rather than having to tax it away from the citizens.
It is no coincidence that the IRS was created shortly after the Federal Reserve Bank was created. How else would the government get money to pay interest on the money it borrowed? If you are in debt, you are a slave to your creditors. In 1913, "our" government allowed itself to become enslaved by the private Fed. The power to issue currency should reside with a government who is accountable to the public. The government exists to serve We The People. We The People should never allow ourselves to becomes slaves to our government (via entitlements, welfare, government healthcare, etc) who is a slave to the central bankers. Woodrow Wilson, and the few members of Congress who were actually present in the capital building 2 days before Christmas in 1913, made the terrible decision to give the power to issue currency to a privately held central bank (that doesn't even need to pay taxes!). The Fed is not really accountable to the public. Yes, the Fed board members are appointed by the President, but that very important decision should not be left up to a single man who may be too easily corrupted.
Governments do not need to borrow money from a bank. They can create money debt free! They are supposed to be doing that according to the US constitution:
"Congress shall have the power to coin money and regulate the value thereof." Since the value of money is determined by the quantity, Congress should be controlling the quantity of money, not banks!
Read up on Bill Still's ideas for monetary reform in his book "No More National Debt". If you don't want to read, then watch these films:
The American Dream
Money as Debt
The Money Masters
The Secret of Oz
Inside Job
This astronaut risks his life to go to the moon, and now the government isn't even letting him keep a little piece of garbage (essentially, that is what it is) that he brought back as a memento. How incredibly lame.
What about the rights of the fetus? There is already legal precedant establishing those. If you kill a pregnant woman, you get charged with the death of both the woman and the fetus. As far as abortion is concerned, the States should decide what is legal and what isn't, not the Federal government.
Mod parent up. His testing was flawed. Look at the photo of his "controlled" experiment. Notice how the shadows from a nearby tree are cast onto his experiment. Notice how there are more shadows cast onto his flat array than his artificial tree collelector. He should have placed his experiments out in an open field where the shadows cast from nearby objects would not have interferred.
msauve do you work for a bank? The bank create money from nothing ever time they practice Fractional Reserve Lending. The Federal Reserve Bank creates money out of nothing when it LOANS it to the government at interest. The government should issue its own currency not private banks who are not accountable to the public! The banks have been inflating away the value of our currency since 1913 when the Federal Reserve Act was snuck through Congress by bank stooges on Christmas Eve.
Debt based currency vs. Debt free currency
on
Debt Deal Reached
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· Score: 1
You do realize that putting 2 trillion into the economy will have the same effect in terms of inflation regardless of whether or not that money is borrowed at interest or created debt free. The problem with borrowing it is that the government has to pay interest to the banksters, which means you are subjected to higher taxes and the government has less money available to pay its bills. The banksers (who are shareholders of the private Federal Reserve Bank) just take all that cash the government pays them in interest and uses it to buy hard assets like land, gold, corporations, and to gain influence via bribing elected officials and paying lobbyists.
You do realize that the reason nobody in mainstream media ever discusses the advantages to givernment (not private Federal Reserve Bank) issued debt free currency is because the mainstream media is OWNED by the banksters and if anyone ever breathed a word of it they would lose their job!
Fractional Reserve lending should be abolished since it is essentially legalized fraud that only banks can practice.
I wouldn't place the blame on soley Jews since there are many banksters who are not Jewish. I don't think JP Morgan was Jewish, and neither was the Rothschild family of banksters.
Going further in to debt is not a good strategy to becoming debt free. A person can't drink themselves sober, and economies can't borrow themselves out of debt. The US government should have minted two $1 trillion dollar platinum coins, thus creating debt free currency, deposited that into the Federal Reserve Bank, and then wrote checks against it. Instead they're going to borrow $2 trillion from the private Federal Reserve Bank. Now the US is going to have to make interest payments on that borrowed money. The US spends 500 billion dollars a year on interest payments. If they had created the money at the mint, they wouldn't have to pay interest on it. Watch the recent Still reports to learn more about this: http://www.youtube.com/user/bstill3
Creating DEBT FREE currency even if it is in the form of coins is much better than borrowing money at interest from the private Federal Reserve Bank. The only thing the government needs to be careful of is not minting too much coin. This is a step in the right direction.
NPR just aired a great story about the problems with some patents including software patents. It is nice to hear this stuff in mainstream media because it means more people are getting informed. That will hopefully result in more action to clean up this mess. http://www.thisamericanlife.org/radio-archives/episode/441/when-patents-attack Check it out.
When you claim that the bailout worked, do you factor into your conclusion that 2011 dollars are worth about 20% less than 2008 dollars, due to inflation? Oh, and don't believe the CPI values that the government comes up with -- those are manipulated lower so that the government doesn't have to increase Social Security payouts.
What we need is a fiat monetary system (not the gold standard, which will just make the depression worse due to natural scarcity of gold) where the amount of currency in the system (and hence its value) is controlled by a computer. The computer simply raises the tax rate in order to "destroy" currency and prevent inflation, or issues new currency in order to prevent deflation. The computer could simply use an HONEST CPI value that is continously measured in order to decide whether or not to create or destroy currency. Fiat currency could be "destroyed" (removed from the system) through taxation, which would raise money for the government, and then the government could spend it to pay for its expenses and also to prevent deflation.
It should be forbidden in our constitution to BORROW money that is created out of thin air by a privately held organization such as the Federal Reserve Bank (which pays no taxes BTW!). That is simply insane. Woodrow Wilson was incredibly naive and foolish to sign the Federal Reserve Act of 1913.
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I would rather invest my money with people who actually do the work of creating valuable tangible goods. Namely entrepreneurs, scientists, engineers, technicians, machine operators, robots, people who make and program robots, etc. The only think banks create are debt and inflation.
I should have chosen a different word. Pioneered can imply invented. What I meant was, fractional reserve lending became more widely used because of Nathan's success with it. There were several Nathan Rothschilds. My statement was referring to Nathan Mayer Rothschild, who was born in 1777.
Where does it say that the Fed must pay all income back to the Treasury? I read the text of the entire Act and missed that part.
The amount of money circulating is thus a constant.
False. Constants don't change -- that is why they are called constants. Bank A loans out 0.9*deposit_X, which then gets deposited into Bank B. Bank B then loans out 0.9*0.9*deposit_X. Rinse and repeat say 100 times. Money_created_from_thin_air = 0.9 + (0.9^2) + ... + (0.9^100) = 9*deposit_X.
The ideal currency is one whose purchasing power remains constant over time. That could easily be done using a feedback control loop, such as a PID controller. Whenever there is inflation, the government could tax. Whenever there is deflation, the government could print debt free money. Either way, the government gets money, but under this system it can get some of the money without needing to tax it away from citizens. There is no need for a middle man (Federal Reserve Bank) to take its cut and give it to its private shareholders.
since the amount of money in the economy is set by an agency whose authority derives from Congress
You mean "derived", not "derives". The Fed was created by a very few members of Congress who were paid off by private bankers back in 1913. Desribe it however you want, but control of the Fed by the public is way too indirect. Period.
Yeah, it pretty much *is* a coincidence. Those actually familiar with history know that the Government has been borrowing (and repaying) money since the days of the Revolutionary War.
If you are implying that the Government has always been borrowing money since the days of the Revolutionary War, you are wrong. Lincoln's greenbacks issued during the Civil War were debt free currency. Coins created at the US mint even today are also debt free currency.
I'll get on that as soon as I finish the The Protocols of the Elders of Zion.
I've never heard of that book. Did you read it?
Federal Reserve Act : Section 7 "Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom shall be exempt from federal state, and local taxation, except taxes upon real estate."
Any single bank can only lend out 90%, but the amount of money supply expansion ends up being roughly 900% after many deposit/lend cycles occur. As I was saying, the value of money is determined by the quantity. According to the Constitution, the value (and hence quantity) should be determined by Congress, who is supposed to be accountable to the public, but in reality is mostly bought off by corporations through lobbyists.
If I were to print money in my basement, I would go to jail. Why then are banks allowed to do it? Banks get to create money out of thin air every time they get people to sign a loan. This is because they are allowed to loan out 9x more money than they take in from people making deposits. That is why banks LOVE it when you deposit money in your savings account because it gives them permission to loan out 9x more money. Not only can they collect interest on that money that they create out of thin air, but if you can't pay them back, they get to seize your assets!
The hand that giveth is above the hand that receiveth. Private banks are above the governments who borrow money from them. Bankers are the masters of deception and fraud. The only things they create are debt and inflation through fractional reserve lending (fraud). Both of those are bad. They create all kinds of problems (such as the "business cycle"), and force people to participate in speculative investing or else watch their savings get inflated away.
Fractional reserve lending was pioneered by Nathan Rothschild and stemmed from greed -- he wanted to lend out more gold than he actually had! Anytime a bank expands the money supply by loaning out more money than they actually have, they are stealing from you who have saved. I understand the need to expand the money supply in order to prevent deflation. However, the government, not a private central bank, should be the one to do that. If the government created money, then they could spend that money rather than having to tax it away from the citizens.
It is no coincidence that the IRS was created shortly after the Federal Reserve Bank was created. How else would the government get money to pay interest on the money it borrowed? If you are in debt, you are a slave to your creditors. In 1913, "our" government allowed itself to become enslaved by the private Fed. The power to issue currency should reside with a government who is accountable to the public. The government exists to serve We The People. We The People should never allow ourselves to becomes slaves to our government (via entitlements, welfare, government healthcare, etc) who is a slave to the central bankers. Woodrow Wilson, and the few members of Congress who were actually present in the capital building 2 days before Christmas in 1913, made the terrible decision to give the power to issue currency to a privately held central bank (that doesn't even need to pay taxes!). The Fed is not really accountable to the public. Yes, the Fed board members are appointed by the President, but that very important decision should not be left up to a single man who may be too easily corrupted.
Governments do not need to borrow money from a bank. They can create money debt free! They are supposed to be doing that according to the US constitution:
"Congress shall have the power to coin money and regulate the value thereof." Since the value of money is determined by the quantity, Congress should be controlling the quantity of money, not banks!
Read up on Bill Still's ideas for monetary reform in his book "No More National Debt". If you don't want to read, then watch these films:
The American Dream
Money as Debt
The Money Masters
The Secret of Oz
Inside Job
This astronaut risks his life to go to the moon, and now the government isn't even letting him keep a little piece of garbage (essentially, that is what it is) that he brought back as a memento. How incredibly lame.
All the services you mentioned differ in key ways, making your comparison not apples-to-apples.
What about the rights of the fetus? There is already legal precedant establishing those. If you kill a pregnant woman, you get charged with the death of both the woman and the fetus. As far as abortion is concerned, the States should decide what is legal and what isn't, not the Federal government.
Ron Paul doesn't want to do any of that stuff you mentioned.
It is called the "Network Effect" http://en.wikipedia.org/wiki/Network_effect . It is the same reason why so many people use eBay.
Let me rephrase --- we not only need fewer taxes, but also lower taxes. The government needs to downsize in a major way.
We need fewer taxes and a smaller government. If you want a job to be done late, overbudged, and sub-par, just get let the government do it.
Mod parent up. His testing was flawed. Look at the photo of his "controlled" experiment. Notice how the shadows from a nearby tree are cast onto his experiment. Notice how there are more shadows cast onto his flat array than his artificial tree collelector. He should have placed his experiments out in an open field where the shadows cast from nearby objects would not have interferred.
msauve do you work for a bank? The bank create money from nothing ever time they practice Fractional Reserve Lending. The Federal Reserve Bank creates money out of nothing when it LOANS it to the government at interest. The government should issue its own currency not private banks who are not accountable to the public! The banks have been inflating away the value of our currency since 1913 when the Federal Reserve Act was snuck through Congress by bank stooges on Christmas Eve.
You do realize that putting 2 trillion into the economy will have the same effect in terms of inflation regardless of whether or not that money is borrowed at interest or created debt free. The problem with borrowing it is that the government has to pay interest to the banksters, which means you are subjected to higher taxes and the government has less money available to pay its bills. The banksers (who are shareholders of the private Federal Reserve Bank) just take all that cash the government pays them in interest and uses it to buy hard assets like land, gold, corporations, and to gain influence via bribing elected officials and paying lobbyists.
You do realize that the reason nobody in mainstream media ever discusses the advantages to givernment (not private Federal Reserve Bank) issued debt free currency is because the mainstream media is OWNED by the banksters and if anyone ever breathed a word of it they would lose their job!
Fractional Reserve lending should be abolished since it is essentially legalized fraud that only banks can practice. I wouldn't place the blame on soley Jews since there are many banksters who are not Jewish. I don't think JP Morgan was Jewish, and neither was the Rothschild family of banksters.
http://www.youtube.com/user/bstill3#p/a/u/1/Rq8s0JShs7o
Going further in to debt is not a good strategy to becoming debt free. A person can't drink themselves sober, and economies can't borrow themselves out of debt. The US government should have minted two $1 trillion dollar platinum coins, thus creating debt free currency, deposited that into the Federal Reserve Bank, and then wrote checks against it. Instead they're going to borrow $2 trillion from the private Federal Reserve Bank. Now the US is going to have to make interest payments on that borrowed money. The US spends 500 billion dollars a year on interest payments. If they had created the money at the mint, they wouldn't have to pay interest on it. Watch the recent Still reports to learn more about this: http://www.youtube.com/user/bstill3
Creating DEBT FREE currency even if it is in the form of coins is much better than borrowing money at interest from the private Federal Reserve Bank. The only thing the government needs to be careful of is not minting too much coin. This is a step in the right direction.
NPR just aired a great story about the problems with some patents including software patents. It is nice to hear this stuff in mainstream media because it means more people are getting informed. That will hopefully result in more action to clean up this mess. http://www.thisamericanlife.org/radio-archives/episode/441/when-patents-attack Check it out.
I think he meant to say scarcity leads to deflation not inflation.
When you claim that the bailout worked, do you factor into your conclusion that 2011 dollars are worth about 20% less than 2008 dollars, due to inflation? Oh, and don't believe the CPI values that the government comes up with -- those are manipulated lower so that the government doesn't have to increase Social Security payouts.
What we need is a fiat monetary system (not the gold standard, which will just make the depression worse due to natural scarcity of gold) where the amount of currency in the system (and hence its value) is controlled by a computer. The computer simply raises the tax rate in order to "destroy" currency and prevent inflation, or issues new currency in order to prevent deflation. The computer could simply use an HONEST CPI value that is continously measured in order to decide whether or not to create or destroy currency. Fiat currency could be "destroyed" (removed from the system) through taxation, which would raise money for the government, and then the government could spend it to pay for its expenses and also to prevent deflation.
It should be forbidden in our constitution to BORROW money that is created out of thin air by a privately held organization such as the Federal Reserve Bank (which pays no taxes BTW!). That is simply insane. Woodrow Wilson was incredibly naive and foolish to sign the Federal Reserve Act of 1913.