You owe it to yourself to educate yourself on what is happening
- Thread starter ProfitTakgFool
- Start date
Money Masters is next on my list. I just have to find 2 hours to watch it. I'm gonna lock the kids in the closet this weekend and have at it 
I watched Money Masters the other day - full of interesting history. Knowing the history of the system is very useful. Like for example, the goldsmiths and the start of FR banking.
I wish that everyone in the country would watch the video, but with one exception: I would take out any editorial or moralistic opinions, and present the raw facts only. That way, people can come to the conclusion on their own that they're being screwed. If you say to people "You're being screwed", they'll often react like "no I'm not, you must be wrong". But if you present the raw facts to them, they can come to the conclusion "Hey, I'm being screwed!" and they'll really believe it.
I believe people need to realize what's going on, but they need to feel that they came to the realization on their own. Otherwise, they'll be resistant to it.
How did you come to this conclusion? Whose opinion do you base this assessment on? The Fed was blamed for making a bad situation worse when they tightened credit and most economists since that have studied the era agree with that assessment. Because of the Fed's mistake, what started out as a recession spiralled into a depression that took a decade and the enormous expenditures of a world war to shake off.
You are subscribing to classical economics which was the dominant school of thought from Adam Smith up to the Great Depression. The Great Depression is the reason it was abandoned for a generation and was only able to be resurrected again decades later under Reagan/Thatcher conservatism. Know its weaknesses.
When arteries are clogged, is that when you take away the oxygen? Isn't that the time you're supposed to supply more?
The Fed is the doing the correct thing. It is pumping more liquidity precisely because the pipes are clogged.
Sorry for the newbie question: in a part of the 'Money As Debt ' video, there is the animation that shows the principal+interest increasing... increasing.. increasing until covers the whole earth.
Does this mean that a few men (the bankers) will own all the money of the men/women on the earth and so enslaving us -- since the money represents essentially debt of the rest of us?
Does this mean that a few men (the bankers) will own all the money of the men/women on the earth and so enslaving us -- since the money represents essentially debt of the rest of us?
Yeah, there is a lot of emotion in it. Same in DebtMoney video.
And it's fine. We have an ability To Think (not the same as How To Think), so use it.
The Mises Institute paper is exceptionally good because it points out the legal precedents to fractional reserve banking. That practice used to be fraud and back back in the day, groups & families used to be run out of villages & countries for playing the money game. I would go more into it, but that's a touchy subject, especially here.
It's important to note the different solution offered. Gold versus Silver versus free competitive banking.
When presenting "just the facts"...
There is a discretionary selection of the set of facts, as well as a general understanding among the population based on the education and mass media of a nation... so therefore "just presenting facts" is not necessarily useful, you need to provide some explanatory structure as well - because sadly people are not equipped with knowledge to understand the "free information", however "unbiased".
There is a discretionary selection of the set of facts, as well as a general understanding among the population based on the education and mass media of a nation... so therefore "just presenting facts" is not necessarily useful, you need to provide some explanatory structure as well - because sadly people are not equipped with knowledge to understand the "free information", however "unbiased".
The first thing you have to realize is the monetary system is a house of cards. If you can't grasp that point then there is no point in continuing. Credit is created from credit, not savings -- that's a bubble. If you agree with that point then we can continue.
The credit bubble burst because too much debt was created from other debt. Now that the bubble has popped the Fed is trying reinflate it with more debt. A system of excessive debt is being fixed with even MORE excessive debt. How can this continue? The Fed of 1929 tightened credit because they new adding more credit to a bubble that was created by excessive credit would make things worse. The Fed is only prolonging the eventual depression and because they are inflating the bubble even more than it currently is the crash will be even harder because the bubble will have more hot air in it.
Just think about this.....today's loan can only be created if yesterday's loan was created and tomorrow's loan can only be created if today's is created, and so on and so on and so on. All those loans are created from absolutely nothing. Where does it end?
The credit bubble burst because too much debt was created from other debt. Now that the bubble has popped the Fed is trying reinflate it with more debt. A system of excessive debt is being fixed with even MORE excessive debt. How can this continue? The Fed of 1929 tightened credit because they new adding more credit to a bubble that was created by excessive credit would make things worse. The Fed is only prolonging the eventual depression and because they are inflating the bubble even more than it currently is the crash will be even harder because the bubble will have more hot air in it.
Just think about this.....today's loan can only be created if yesterday's loan was created and tomorrow's loan can only be created if today's is created, and so on and so on and so on. All those loans are created from absolutely nothing. Where does it end?