My entry for the "End the Fed" video contest

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John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
My entry for the "End the Fed" video contest

A pared-down effort of an earlier vid (had a 10 minute restriction). Comments welcome Laughing

plato1965's picture
plato1965
Status: Platinum Member (Offline)
Joined: Feb 18 2009
Posts: 615
   One criticism - "Why

 

 One criticism - "Why because our government can create the money free of debt"..

 It's true, but the reference to the constitution implies that was the founders intention...

 My understanding is that the founders simply *recognised* free market, de-facto, natural money...  (gold & silver), - basing the currency on the already circulating spanish milled dollar.

 http://en.wikipedia.org/wiki/Spanish_dollar

 Similarly they *recognised* rather than created natural rights...  "We hold these truths to be self evident."

 

 

 

 

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Good point, plato1965. The

Good point, plato1965. The reference in the vid to the government creating the currency comes more from the Abraham Lincoln quote, "the government should create the currency to satisfy the spending of the government and the purchasing of the people", rather than the original Constitutional wording, which talks of 'issuing coin and regulating the value thereof', inferring that the money should be a precious metal standard.

When I first came to CM I was totally onside to return to the gold and silver standards, and after some wonderful thought-provoking interchanges, I came to see a large problem with that concept. namely, that the global private bankers and their buddies, who have captured the money creation system, now control the greatest proportion of the world's gold and silver supplies, so if we converted to the PM standard, once again they are the richest, most powerful people on the planet.

In the vid with the few slides on inflation, I try and show that if there is a balance between the money supply and the real GDP of the nation, that inflation would be eliminated. This makes a very big assumption - that government must not spend money except to maintain this balanced formula. It would mean the end to wars for example, and again a very tall order.

The assumption is to have an honest money system, there would also have to be an honest government to enforce it. If we can dream of one, why not dream of both?

I would be onside to return to a PM-based, or commodity-based money system (maybe including platinum and palladium for example) if first, the wealth is repossessed from the crimials who have stolen it for so very many years, and after a complete audit of Fort Knox and a testing of the purity of the reserves held within.

patrickhenry's picture
patrickhenry
Status: Bronze Member (Offline)
Joined: Mar 12 2009
Posts: 76
John99 Thank you for making

John99

Thank you for making this important video.

A couple of small quibbles:

At the line money = slavery, it may lead people to tune out at that point because their mind says "well, we need money".

Perhaps a better line could be "Federal Reserve Money = Slavery"

 

The line That's a Price Increase of 2,130%

A common argument to that is , that's okay because salaries go up to with inflation.

Perhaps a line in their listing how much salaries have gone up in comparison will really drive home the loss of purchasing power.

 

Thanks  again

rhare's picture
rhare
Status: Diamond Member (Offline)
Joined: Mar 30 2009
Posts: 1329
Power of money to the people, not government.
John99 wrote:

When I first came to CM I was totally onside to return to the gold and silver standards, and after some wonderful thought-provoking interchanges, I came to see a large problem with that concept. namely, that the global private bankers and their buddies, who have captured the money creation system, now control the greatest proportion of the world's gold and silver supplies, so if we converted to the PM standard, once again they are the richest, most powerful people on the planet.

John99 wrote:

The assumption is to have an honest money system, there would also have to be an honest government to enforce it. If we can dream of one, why not dream of both?

I don't believe you have to have a government to enforce the system.  In fact relying on government to manage/enforce the money supply is just as dangerous as trusting the bankers.

Thomas Jefferson (from John99's video) wrote:

The issuing power (of money) should be taken from the banks and restored to the people, to whom it properly belongs.

I don't consider government "the people" .  Why not let every individual choose what they want to use for currency?  Pretty soon a few common currencies would be used with exchange mechanism without any government intervention.  People could choose to use anything they want as currency, the only stipulation is that the individuals or companies in a transaction agree on the currency to be used.  Soon, services would pop up to handle exchanged conveniently, just look at using a credit card use in different countries.

I think that takes care of your first problem, when the rich have the gold and silver now.  If citizens can't obtain gold and silver, as long as they are allowed to choose what they use to conduct trade, then it becomes much less of an issue.  It's only when individuals are forced to use a currency, government or banker created,  that the theft can occur.

 

 

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
patrickhenry, many thanks

patrickhenry, many thanks for taking the time for your small quibbles - duly noted.

rhare: excellent points and a sad, but true observation, "I don't consider government "the people" . And as far as having different currencies, I'd have to see some examples to comment further. I did watch the short documentary on "Digital Money" and feel a system like that could well work, if the interent was fully 'open-sourced' to prevent fraud, but again, here is another system that is being tightly controlled.

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