Thanks man. I would love to hear a rebuttal against my post. I would love to know how I am wrong, if I am. I don't believe I am wrong though. Total Credit Market Debt is total debt in the system. It's that simple. Every dollar in existence represents a debt to somebody earning interest to an issuing bank. To my knowledge, interest-free money no longer exists in our economy (greenbacks and JFK issued silver dollars?). It's all debt-based money now. It's the interest costs that are killing the economy (and deindustrialization, and regulation). Ron Paul always droned on about 'too much debt in the system'. I never really understood that until I connected it with TCMD. Then had an ah ha moment. The money supply needs to vastly shrink before new growth can continue. Too much is extracted as cream to bankers who are a parasitic-elite-welfare class and prices are too high.
Solutions - Nationalize the Banking System and Print Greenbacks
- Thread starter achilles28
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Thanks man. I would love to hear a rebuttal against my post. I would love to know how I am wrong, if I am. I don't believe I am wrong though. Total Credit Market Debt is total debt in the system. It's that simple. Every dollar in existence represents a debt to somebody earning interest to an issuing bank. To my knowledge, interest-free money no longer exists in our economy (greenbacks and JFK issued silver dollars?). It's all debt-based money now. It's the interest costs that are killing the economy (and deindustrialization, and regulation). Ron Paul always droned on about 'too much debt in the system'. I never really understood that until I connected it with TCMD. Then had an ah ha moment. The money supply needs to vastly shrink before new growth can continue. Too much is extracted as cream to bankers who are a parasitic-elite-welfare class and prices are too high.
Thanks for the rebuttal. Martin didn't explain why the premise was wrong. Like you, he's against nationalization.
The whole point is our money system was always a gigantic trap, designed to enrich the banking class, at the expense of the entire country. Money has value based on the people. Our collective labor gives money value. Not that some banker has the right granted by some politician to create ones and zeros in a ledger. That's preposterous. Now, we've gone down this road a long time. Hundreds of years. Fractional reserve money systems are the establishment. However, the entire world is also quickly approaching the breaking point/end game/event horizon to this debt black hole we've created.
The idea that money is debt is the core of the problem. Money is debt because we made money debt. Money DOES NOT have to be debt. The bankers simply convinced us to make it that way to benefit them! In order for this system to work again, money has to be de-linked from debt, in most levels. Money has to be free and clear, non interest bearing notes!
Gold and silver = interest free money. Deficits can be printed with straight up money. That's what Lincoln did with Greenbacks. Debt-free money. You make it sound impossible. Its the easiest thing in the world and already been done.
The largest source of credit/money in the economy is from commercial banks. If we continue with demand-based fractional reserve banking, then the profits from that have to be nationalized, or bankers and their shareholders will continue to extract the cream from rental costs the people pay to use their money. SO nationalize profits. It's not that hard.
Granted, these are extreme changes and the people are dumb and ignorant, and nothing like this will ever see the light of day. The 1 percenters and bankers and politicians all have a vested interest in keeping this demonic system in place because they profit from it enormously and would stand to lose equally if the peoples money were returned back to them. I get it.
However, we are marching quickly towards our death and this whole system is about to implode with extreme consequences. So while we sit around and act all educated, pleased with ourselves for being erudite on the subject, all this will soon blow up in our faces and God help us what comes next.
I couldn't agree more.
Absolutely, even though financial slavery is only a small (but important) part of their plan.
http://www.youtube.com/watch?v=iFDe5kUUyT0
"Give me control of a nation's money and I care not who makes it's laws" â Mayer Amschel Bauer Rothschild.
Would you or Martin kindly explain how the premise is 'entirely wrong'?
Many people here would appreciate an explanation.
It is difficult to know where to start, there is so much wrong here. Let me comment, then, on just one aspect of what you have proposed, i.e., money printing to pay debt. This is what Zimbabwe did!
Paul Grignon's Analysis of Banking is a pretty awesome summary of how the banking system works:
The Banking System, Itself, is the ROOT CAUSE of Money System Instability:
http://paulgrignon.netfirms.com/MoneyasDebt/Analysis_of_Banking.html
Grignon created the Money as Debt documentaries.
The Banking System, Itself, is the ROOT CAUSE of Money System Instability:
http://paulgrignon.netfirms.com/MoneyasDebt/Analysis_of_Banking.html
Grignon created the Money as Debt documentaries.
... and Japan did .... and the FED did .... and China is beginning ( under a different name) .... and Argentina did .... and so on ..... and so on .....
I think the point is that by using the bond markets to push bad debt on external countries printing money ( especially base currencies) is a form of economic warfare IMO. At least with the currency being printed by the government, the costs and the benefits of printing money are borne by the same country.
There was something called the Chicago plan in the 1930s which made much the same point.
Now the choices are to default ( Argentina) bail-in (Greece), start war somewhere else to distract the citizens (Ukraine), or get 10% GDP growth for years (US). I will not include martial law and socialism. In a few years both medical and pensions for a growing percentage of seniors kick in and since the money to pay for both was essentially spent years ago ( Detroit) some bad things are going to happen. So the big question is who will ultimately pay the bill. The average worker and net worth and housing have paid in to date but the train continues to the cliff.
Or maybe I am completely wrong and the governing economic powers have a great solutions that work and they have simply been holding them back for effect? - you know the calvary rides in just when all looks lost and saves the day.
If you don't mind, let me try doing it with a question...
Imagine your ideal world where there are no banks and we're on the gold standard. Suppose that you're a wealthy apple grower, while I am a struggling manufacturer of widgets. If I come to you to borrow some money for 3 years to build a bigger widget-making machine, will you lend me the money interest-free?
P.S: Your definition of seigniorage is incorrect.
To clarify, would you give your own definition so that we can clearly see where the two definitions differ?