This helped shed some light on a few grey areas of economics. There is a degree of propaganda and falsehoods in there. For one, it was the Dutch not the English that introduced credit not tendered (not existing as gold) by the bank. Thats what made the British Empire so successful, that and tea.
Before the net, you would have had to research and study for a year to get the gist of what this little video was about. Nowadays there are several good videos like this that expose the smoke and mirrors behind our economic system but you have to ask: will they change anything?
I don’t think so. After the shock and awe dies down everyone will go back to where they were because deep down we realize that our own little empires are built on the same thin ice as the money men. To undermine the big crooks also undermines our own property, shares, jobs and numb little lives. That’s the brilliance of the capitalist system.
Well no, a debt based monetary system inherently leads to inflation (which is not necessarily apparent in headline indexes) to the benefit of bankers and to the detriment of households. It is a loose wheel which cannot continue rolling for too much longer (public debt is now over 9 trillion $), before there is a major setback. On the history of the Federal Reserve Act: http://www.the7thfire.com/Politics%20and%20History/Secrets_of_the_Federal_Reserve/secrets_of_the_federal_reserve_TC.htm
With the destruction of the current global monetary system we would see free energy come to the forefront, as it’s this current system which is holding it back for the sole reason that it would destroy the power of those who benefit from it (not you or me, or 99% of the population).
When people see how good their own quality of life can be, and also see that it will not be at the expense of someone else, but rather at the expense of some benign cosmic void of unlimited potential, they will not be content with the current paradigm.
They will no longer be accustomed to being crammed into this mental circle hole when we’re clearly triangles.
If you’re saying a financial collapse will trigger a new economic system, then I might agree with you. But until everything is washed away by an economic tsunami, I simply cannot see the populace voluntarily giving up their hard-earned nest egg for some pie-in-the-sky vision of utopia. I would love to be proved wrong.
The day will come when China and Japan will stop financing US external debt.
Woodrow Wilson unconstitutionally handed over the power to create money to private bankers (headed by Warburg) in 1913. The income tax was introduced in parallel to pay for the interest on Fed loans to the government. If the power to create money is given back to the government they will not have to pay interest on that money and hopefully they would make decisions which are more based on the peoples best (financial) interests.
i think you are underestimating the relationship between capital and the state
i thought the video was pretty good, but found out it was made by lifeboat news, who seem to be closet anti-semites emmersed in 9/11 consipracy theories
I kinda agree with oisleep in respect to the video, it was informative yet slightly narrow or leaning towards a ‘Message’ later on. In respect to economics it left alot out, one more important aspect being that an economic formula that works has never been found. The smart money is away from the crowd; like horse racing. Plus the so called experts, economists, have been predicting an economic-housing-price-bubble index crash for the last 8 years. It still hasn’t materialised.
I have seen the Money Masters. I think I only watched part of this one.
Well, when you keep creating money, it certainly keeps the economy afloat. But one day the dam must break. By the way, the Fed discontinued publishing the broader measure of money supply (M3) in march of 2006. Not a good sign.
Again, I agree with the sentiment but perhaps (?) not the prognosis.
You could hardly find two countries more dependent on U.S. virtual money than these two. China (and others like Saudi Arabia) have been selling dollars for a while now to lessen the impact on their countries when the dollar collapses but… selling dollars makes the collapse more likely. So what do you do?
It’s like an economic MAD (Mutually Assured Destruction): The first guy to pull the plug is the least likely to get hurt but will almost certainly trigger a collapse that will have other ramifications like destroying your biggest market and thus your own economy.
All of this and having to fund an unnecessary war-without-end, oil producers switching to Euros, and the burgeoning health and welfare costs of millions of retiring baby boomers. Meanwhile, in the wings, an anti-christ is awaiting his queue to enter as ‘saviour’
That’s a big ‘hopefully’. What is more likely to happen is that you’d have a state economic dictatorship (instead of a corporate one), which would make very little difference to the average person in terms of their actual ownership of their possessions and produce and their subsequent quality of life.
My point is that bankers have a vested interest in a monetary debt based sytem, which is inflationnary and thus does not benefit the average citizen. Plus, government would no longer pay interest (and ultimately principal) on loans from the central bank (since it would be creating money directly). True, I was thinking in theoretical terms.
Nope, the best way is for there to be as little governement involvement as possible. They regulate certain things, and enforce banking dept while spending as little national GDP as possible. Less government is more. Like Hong Kong before Chinese rule.
On your link on M3. It appears that the damn does brake from time to time because Central Banks dont keep an eye on money creation.
What do those on ILP believe about the Fed?
Do you believe the people/government should take back the power to create money?
Why do we still allow the control of our economy to be controlled by a private organisation?
Why have I never heard about this? (I was a Finance major in university)
Maybe I was too busy having a good time to pay attention in class, but I don’t remember hearing anything about the history of the war between the government and the private bank as to who controls our economy and makes money.
It seems crazy to me that a private organization gets to create money out of thin air!
They flood us with it when they choose creating a boom and spending then, when it is their ‘responsibilty’ to stabilize the economy, choke they money supply! (This was the ultimate cause of the great depression)
