Re: Max Keiser interviews Damon Vrabel (our strabes)
Damon said in the interview:
“…Today, the Wall Street empire controls both the private and public sector…So, by attacking government, he’s attacking the only hope we have of changing the system…we need to return to a republic form of government.”
An important point for sure…we need to return to the rule of law (republic) and limited government authority as opposed to rule by whim. Understandably, people have lost confidence in government as our nation has become a client state of the international banking cartel under the franchise of the Federal Reserve.
The age old question continues to loom over us…are people capable of governing themselves as a sovereign nation? An integral part of that is the ability to govern our finances; the issue and control of money. “Whoever controls the volume of money in any country is absolute master of all industry and commerce” – President James A. Garfield.
It seems to me that alternatives to our financial and political problems may have been more commonly understood prior to the 1920’s. The sovereign issuance and control of money was a more widely discussed topic. Somehow, we are suffering a collective amnesia. For example, the Westminster Review published a paper entitled “The mint and the Bank of England” in 1873:
“In breaking this monopoly of the bank we should be taking a great stride toward the attainment of that ideal system of currency which Sir Robert Peel must have had in his heart when he passed his currency laws; a system under which the state shall be the sole fountain of issue, under which no money shall circulate on credit, or, if it does, shall circulate on the credit of the state, all bank-notes, as well as coins, bearing the image and superscription of the head of the state, and under which all profits upon the issue of money shall form part of the imperial revenue.
The power of issue is, and ought to be, a sovereign right…The power of issue now exercised by the Bank of England, and by the English, Irish, and Scotch banks, is a relic of feudalism, and of those rough and rude times when every prelate and noble set up a mint under the shadow of his palace or castle, coined money in their own names as grantees of the king and appropriated the profit of their mints as they appropriated the rent of their estates.”
Prior to 1900, the U.S. government basically paid for itself primarily through seigniorage and tariffs. Seigniorage is a fee on the issuance of new money. This type of system could eliminate fractional lending while maintaining a flow of money consistent with the needs of the people and commerce.
By issuing our own money, we can eliminate all income and employment taxes and the national debt would cease to exist. The national debt has always been a national fraud.