A money & banking model to study

[g222]

The inner workings and machinations of our money and banking system is, BY DESIGN, so confusing that few – including most in congress – understand it. The more confusing something is to the masses, the more likely that acceptance is assured. Now, it’s gotten out of hand and needs fixing. And just who’s trying to fix it??? The congress. And what happens when you try to fix something when you have no clue how it works in the first place?? We’ve just witnessed it.
To make matters worse, the congress has created such a din with all their bickering and finger-pointing, they can’t hear any of us. We can’t get the congress to turn its collective head to respond to the people. The congress seems to have created an impenetrable wall to hide behind while they go thru the motions of hiding their lack of common sense. And we keep banging our heads against the massiveness of this wall at the national level instead of focusing on loosening one brick at a time at the local level. At first glance, this might indeed seem like an effort in futility, but the constituency in one state appears to have pointed the way. Granted it’s not a cure-all for each facet of our current cancer, but the model for the Bank of North Dakota certainly offers an opportunity clear the mystique that has blinded our vision and misguided our own common sense, bringing us all to where we now find ourselves.

http://motherjones.com/mojo/2009/03/how-nation’s-only-state-owned-bank-became-envy-wall-street

 

[Big Kahuna]

Try putting this out there and avoid it being called socialist.

 

[g222]

Quote from Big Kahuna:

Try putting this out there and avoid it being called socialist.

So true, BK, but consider the source. The greatest opposition to the BND model comes from the private banking sector. But the model has, for decades, proven its merit and it’s long past the time that we draw a line in the sand. In the face of the well-known brevity of the public’s memory, the old adage: “do me once, shame on you; do me twice, shame on me,” belies a toothless threat. The bankers have ‘done it’ to us – “the inferior social stratum” as they like to call us – over and over and over again. Their disdain for the public is exceeded only by their disdain for a level playing field – clearly evidenced by their eagerness to act as catalyst in all our depressions and, shamefully, too many of our wars. After this latest debacle, enough is enough!!!

At the state level, others have been dissecting the BND model to find what could be adapted elsewhere. Hopefully, their efforts are sincere and will produce positive results.

At the national level, the private banks have been ruthless. I have to agree with Jefferson: “I wish it were possible to take from the federal government the power to borrow.” The issuance of money ought to be a function of government, not the function of private banks, because as Garfield put it: “…whoever controls the volume of money, controls the government.” We’ve allowed the fox to guard the hen house for much too long, now. During those times in history that governments took back from bankers the issuance of their monies, economies experienced unprecedented growth and prosperity. So, let’s see … bankers in control = boom and bust; government in control = boom … hmmmm. Something needs to be looked at here … d’ya think???

Of course, there’s this fractional reserve lending thing, too – aka legalized gouging and counterfeiting.

 

[Ricter]

Aside from their actions as a "mini fed" for ND, how are they much different from a credit union?

 

[g222]

Quote from Ricter:

Aside from their actions as a "mini fed" for ND, how are they much different from a credit union?

Excellent analogy. In the end, they both operate for the benefit of their owner(s)/depositor(s) ... what a concept!!!

 

[Ricter]

Quote from g222:

Quote from Ricter:

Excellent analogy. In the end, they both operate for the benefit of their owner(s)/depositor(s) ... what a concept!!!

It's an important distinction about owners and depositors. The private banks also have owners, but those owners may not be depositors. This bank appears to operate analogously to worker-owned businesses. But the most important thing of all is the attitude of management, since any structure, with good principles or bad, can still be ruined with poor management. It seems that team has made profit a necessary, but not sufficient, part of their model.

 

[g222]

Here’s another thought for ya:

Few times in our history has the congress so openly displayed their disdain for the people. Sure, outwardly they show empathy. After rehearsing in front of a mirror, the members give us the sad faces and puppy-dog eyes while always pointing their fingers and blaming the other guy. But inwardly, they each know to whom they have to answer in the end: big, powerful banking interests. Because without the direct and indirect financial support from this “den of vipers”, they could never get into office. They owe … but they don’t owe you and me.

They mollify and condescend. Spending is out of control, so if they scream about spending cuts, they know we’ll all stand up and applaud. But how many in congress have stood up and presented a list of their OWN spending bills that eliminated?? How many have stood up and pointed to the other guy’s stuff, instead?

Then they mollify, condescend and talk out of their collective asses. Without a clue as to how the current monetary system works, they have would have us believe they can fix it. And when we hear them shout ‘we have to slash the debt’, we again stand up: “YEAH!!” But keep in mind – they SUPPORT that system. They support that system because – and ONLY because – that’s what the powerful banking interests want. You see, under this system, the vast bulk of our money in circulation is debt money … borrowed into existence. When you cut the debt, you reduce the amount of money out there that’s available for the people. When you reduce the amount of money available, you have depression and people can’t pay their bills – their mortgages. The banks can then foreclose. It’s really simple … not to mention profitable for the banks. So … let’s slash the debt and dry up the money supply??? No. Let’s eliminate federal debt altogether. The issue of currency should be a function of the government, “a right which ought not to be delegated to private corporations (banks)” There is no reason we, as a sovereign nation, should not be able to print our money and spend it into circulation thru the normal channels of public works projects. We’ve done it the past – as have other governments – with unprecedented growth and prosperity, and we should do it again. Of course … it would really piss the banks off … wouldn’t it?

 

[g222]

Quote from Ricter

It's an important distinction about owners and depositors. The private banks also have owners, but those owners may not be depositors. This bank appears to operate analogously to worker-owned businesses. But the most important thing of all is the attitude of management, since any structure, with good principles or bad, can still be ruined with poor management. It seems that team has made profit a necessary, but not sufficient, part of their model.

Right on it again. Their profit goal is solvency.

In the private banking sector, staff for the most part are just a bunch of schmucks like the rest of us. They really have no clue about what's going on, either. My chastizement of bankers is indeed focused on a surprisingly small group of people who are in total control. The two 'Masters' of this country owe all that they have to the family of ONE man ... the ruler of the world ... the man who let the Genie our of the bottle - Amshall Moses Bower. Notwithstanding his influence on European history, his touch was felt on our Revolutionary War, the War of 1812, The Civil War, numerous presidential elections, presidential assinations (and an attempt), and each of the Feds since the first. It's difficult to imagine how so numerically small a group has had so profound an effect on every human being since their time.