Gold bugs use the word ‘fiat’ as if it’s a dirty word, and yet as Bill Still has pointed out gold itself is a fiat currency the instant it’s accepted as payment for taxes. The problem with money isn’t whether it’s fiat or not, but whether its value is manipulated to the benefit of a very few shadowy bankers at everyone else’s expense.
What we need is a list of the REAL dirty words which should make people’s hair raise when they hear it. Then when these same words are used in the mainstream media it will be easier for people to see who is an economic saboteur and who is part of the solution, simply by listening to what words they use.
1.) To start out with: “fractional reserve” anything is a dirty concept because it is ponzi scheme by forgery and counterfeit.
Fractional reserve lending identical to counterfeit and should have the same legal penalties. When a bank lends out money that it doesn’t have, it has to counterfeit the new dollars into existence.
Banks call this “fractional reserve” lending as if that somehow makes it OK, but it has exactly the same negative effect on the economy as if the banks hired a team of master forgers to start spewing out fake $100 bills into the economy and debase the currency.
2.) “Independence” of Federal Reserve Corporation
The Constitution itself states that ONLY Congress has the power to create money and nowhere in the Constitution does it say that Congress has the right to give up that power to anyone.
This is for a reason. The power of money creation is a property of the people, just like Federal highways are public property. So the “Federal” Reserve Act is unconstitutional because the only way that Congress can cede its money creating authority that was stated in the Constitution is with an Amendment, which the “Federal” Reserve Act is not.
Fed Corp is a private company with no Constitutional authority, so not only should it not be “independent” of Congress, it shouldn’t even exist. Any time Ben Bernanke starts crowing about how the American people “want” Fed Corp to remain independent, fists should be thrown in the air and letters should flood into congress demanding a return to Constitutional money.
3.) (Thanks David) “The left/right wing media/schools/politicians caused the problem”
The mass media is controlled by a very few companies (“There Were 88 Media Companies… Now There Are 6″ http://www.rense.com/general90/media.htm ) which are in turn own by the banks, as are both main political parties. The cause of the problem is that the source of power, the money supply, is controlled by unelected bankers and not by the politicians who we are told have power by the media.
4.) Central Banks “Setting Policy”
This is a dirty phrase because it really means “price fixing” and “collusion”. In any other industry, when supposed competitors get together behind closed doors to fix prices it’s grounds for legal action by the Federal government’s anti-trust lawyers to haul them into court and possibly break the companies up.
However, for some reason people think it’s perfectly fine for banks to price fix the interest rate of money. The whole concept of banks setting policy needs to raise a red flag in people’s mind that the any time the banks get together and plot behind closed doors that they’re plotting some new scheme to screw everyone else out of their money.
6.) The “Business Cycle”
The mythical business cycle has nothing to do with business and everything to do with bankers rowing the economy back and forth by ratcheting the supply of money up and down. Because they know when they’ll make money scarce or plentiful before anyone else, they know when to buy and sell in other markets so they can always buy low and sell high.
The perfect example is the situation we’re in now. Never before in all history has there been better technology, freer access to information or more efficient transportation. The businesses of the world have more than done their job to create immense value in the economy. And yet we’re told that everything is falling apart and this is the reason for repeated financial crises.
The problems are not because of anything businesses have done, but because bankers have artificially manfufactured the situation like they’ve done many times in the past. By eliminating fractional reserve lending and debt based money, the “business cycle” will vanish and the economy will expand and prosper naturally without being weighed down by the greed of a very few greedy bankers.
7.) Protectionism Is “Bad”
We have no problem protecting ourselves with military force, why can’t we protect ourselves economically? The US had its greatest growth spurt during its most protectionist period. See “America’s Protectionist Takeoff 1815-1914″ http://www.amazon.com/Americas-Protectioni…d=2V13PREXRZOEI
Under Thomas Jefferson there were no Federal direct taxes, the entire Federal government was funded by tariffs and as a result ran a surplus year after year. By shifting the tax structure to tax foreigners and remove taxes on ourselves like sales and income taxes, we can return to the economic expansion rather than facing economic disaster.
Related posts:
Could not have said it better myself.
Great article.
You may be interested in this YouTube channel on Banking Reform
Http://www.YouTube.com/user/bankingreform
Simon Dixon