“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” --Buckminster Fuller
Most legislation is formed in advance by “think tanks” funded by special interests, but nobody funds experts to think about how to reform the money system itself. Now, however, we have the Internet, where we can banter ideas about in “virtual” think tanks without funding. Getting anyone to pay attention, of course, is another matter; but before we even get to that stage, we need to agree on a plan. I’ve gotten a great deal of feedback on this subject by email, so am opening it up to blog comments. What should our money system look like and how should it work? Give your feedback here. Comments on the book “Web of Debt” and articles are also welcome!
Note: This page has gotten a bit long and unwieldy. Please keep entries short and to the point! Better still, please continue the debates using our new forum.
I’m not too much younger, don’t use those socialist sites.
Have been told the C.I.A. no longer need a spy network, they get most of their data from facebook and other such sites.
Of course, it is impossible to get into the media with these sorts of thoughts, so all we can do is encourage people to individually contact their local political member, advise them you will not, and will discourage everyone you know, from voting for them, unless they get of their fat, lazy butts and personally demand change in the government’s attitude.
For some of us this system now appears irreversible, but if we don’t try, we betray all our forebears fought for. FREEDOM of speech and thought.
As a non-denominational Christian, we know Scripture prophesies of what is now taking place, but at least we can try to wake the public up to what is really being done to them.
They, and we are being shafted.
Why are taxpayers not acting the same as the banks—–banks won’t reveal their betting losses—-banks have set up illegal contracts and called them binding agreements —forcing governments to steal and handover taxpayers monies —-why don’t taxpayer globally just stop paying into criminal systems instead of wasting their time and well being by perpetuating a slow death of their present.
I’m not an economist, but I do understand a little about what’s going on with the economy. I know that banks aren’t lending so the money supply is shrinking, and the government isn’t reporting accurate numbers. Ben Bernanke recently told the press that in January 2013 we may be headed of a financial cliff. That predictions about currency devaluation and possible dumping of the U.S. dollar for some other form of currency is a very real possibility in the near future. That almost anything in the financial sector could bring down the economy, such as credit default swaps, market manipulation or the same thing that brought down the economy last time, only this time it is being done with rental houses that the banks own in which they are bundling mbs. However, my take on the future of the economy is a bit different than anybody else. I’ll draw your attention to a video clip by Ali Velchi of CNN shown here: http://www.youtube.com/watch?v=azAIUgMMcaU
In 1986 U.S News and World Report published an article about Planet X and you can find it here at this link:http://www.redxpro.com/articles/usnawr_9_10_1984.html
So what I’m I saying? Is this the apocalypse? I guess for some maybe. I believe that we are at that point in history where one will be taken and one will be left behind. Some will be taken and I think there will be a large net in that respect, but for those who have been causing all the misery in terms of wars and famine the shadow elite if you will, things will come to an abrupt end. Here is another set of videos to ponder over http://www.youtube.com/watch?v=POZVate6sEs
It might also help to go over some of Zecharia Sitchin material to help understand the videos.
I’m not an alarmist, I’m just giving a heads up in a media black out in the U.S and the world. If you look at Russian outlets they aren’t covering up Planet X. As are other countries which broadcast news about it. It may sound scary, but for those who will be leaving I think it is an exciting time and also a relief.
In 2008 when the banks were about to collapse, the US Treasury could have taken a very different path and solved multiple problems with one simple program. The Treasury could have created a few trillion dollars and refinanced regular people’s mortgages at maybe 1% interest.
Think about it. First of all, all these refinanced mortgages would result in lower payments. Providing more discretionary income for families. More consumer spending improves GDP therefore less job losses.
Also, risky derivatives and their underlying mortgages would be paid off. Therefore the banks would have far less risky assets and credit markets would not have frozen.
The big insurance companies who insured the derivatives would have the policies cancelled if the mortgages were paid off.
And the pension funds, municipal governments, etc. that invested in the derivatives would have had their investments remain stable and keep their value.
The US Treasury would have simply created funds to buy mortgages, which would be paid back over 30 years. This money supply would eventually go back to the Treasury and be eliminated from supply.
If the program were implemented, the government could have charged low cost interst to only cover admin costs and enabled millions of citizens to accumulate equity/real wealth much faster. But those with the wealth don’t want to share it and will keep controlling the money supply. It’s OUR currency let’s take it back.
Sounds good but there is no aspect of this system or any private sector that is not totally criminal as we are seeing with the latest Libor and its other global counterparts. Private corporations are now just as predatory in their undermining of various governments’ public sectors through illegal trade deals (eg, TPP). We should all simply opt out and structure a new taxpayer based system where transparency and taxpayer directed laws are given supremacy. I am surprised that taxpayers haven’t withdrawn their money in ways to confront these current corrupting actors.
It’s now obvious that the fear propaganda stirred up over the UN, one world government was preperation for the one world government of the world banks and corporations. Why not push for the UN to enforce a rule that no private entity can have more economic power than any government?
According to a World Bank document, historically one of the reasons that governments have nationalized banks is that private banks have gained so much power that they have overwhelmed the political process and taken over. Mexico is given as an example. That’s what we have in the US and Europe — bank control. It appears to be collusion between government and banks against the people, but clearly the banks and other private entities are calling the shots for their own benefit and governments are subordinate. I’d rather have democratic sovereignty be regained by the people in the US. I like the UN idea, but I don’t see much likelihood of it happening, since the UN supports globalism and this would be a move to support national sovereignty.
Some are now coming to the conclusion that large banks/corporations and government have fused to further each others goals and gains. They further believe that their adversaries are the rest of us powerless taxpayers. Having no base or real support it will take much more than protesting to balance taxpayers rights. A tax movement and other similar ideas are now being considered. Public banking is another positive means of giving the general public something they haven’t had —choice.
Scripture says that if a man asks of you for your coat give him your cloak also.
Banks are applying this principle in spades, being of the devil, as they want not only your coat, your cloak, your home, your future, your soul, in fact to commit their borrowers into irrepaparable debt for the term of their natural life.
This, in true terms, is called larceny; (felonious taking away of another’s personal goods, with intent to convert them to one’s own use.)
The citizens are not allowed, by civil law, to commit larceny against society, so why does not the Government, (the supposed voice of the people?) commence legal proceedings against ALL banks and get the citizens’ money back?
Banking fundamental principles are based on legalized theft. Governments, of all professed leanings, have allowed the banks to blatantly steal not only our money, but our very lives, our future, and still we sit around, yapping like mad dogs at a cat show, and fail to ACT, to pull our money out of the banks, apply for government funding to cover our loses and laugh all the way to debt freedom.
Don’t talk…DO!
Welcome to the United Socialist State of America.
Amen.
The Ugly Socialist State of America has already established total world control, she only starts wars here and there to keep the public paranoid and suppressed.
Besides, as Orwell wrote in 1984, war is the most logical way to maintain an artifically high production program to fool the masses and keep the proles busy.
War is good as it means we have to mass produce weapons, etc., which are made solely to be destroyed, so we always have a high demand for materials and workers.
America is technically now nothing more than the HIt Squad, with her strings being pulled by those manifesting spiritual wickedness in high places.
Sadly the citizens have fallen for the two card trick again, and the price to be paid is slavery.
That various splinter groups, or individual radicals, have the audacity to put what we perceive on line, and can access global attention is good, but it will change nothing, as Joe and Joess Citizen have been de-educated and brain washed into happy mindlessness through the machine.
Our citizens are filled with toxic chemicals, from food sources, medication, alcohol, nicotine and other such drugs, and are no longer capable of independent, intelligent thought processes.
The New World Order is already in place, those running it just haven’t
used the mass media to advise the public of how they have been screwed.
Obama is a dictator, a socialist traitor and the second most dangerous man on the planet, but you all will elect him again, because, as you stated, Alicia, the victims of the Pavlov’s dog program, are only interested in hearing the bell, not being concerned over how many people they have to kill to get their paltry reward.
Yes, it is all Scriptural, but, be warned, the devil is the most religioius critter on the planet, and he looks so close to the real God, that he will deceive all but the very elect. Mat.24:24
All we can do is stand for truth and try to warn our fellow citizens to flee from the wrath soon to come.
Ugly maybe, but not socialist. To say it is socialist slanders the word “socialism”.
In fact what Mr Nolan is describing is the effect on the USA of the right wing of the Republican party and has nothing at all to do with socialism. In fact what Obama seems to be is a liberal centre right politician when viewed from across the Atlantic. Perhaps he wants all Americans to benefit from Americas wealth and not just the wealthy minority who propagate the above nonsense.
Yes, Comrade Obama sounds to be pushing the same glorious doctrines of sharing the nation’s, (and banker’s) wealth with the poor people, the average citizens, as did Stalin, Trotsky, Idi Amin, Adolf Hitler, Ghengis Khan, et al.
These outstanding citizens spoke compassionately about balancing the books, sharing the wealth, helping the little people to survive, to give them the freedom and power to enhance their lives and welfare.
The U.S.S.A is the pistol packing power which will introduce and enforce the global slavery her boss is currrently proposing.
If the U.S.S.A. was interested in helping the poor people, in introducing peace, she would stop the wars against humanity she is waging.
She would stop making weapons of mass destruction, put that incomprehensible pile of money used to manufacture products with a severe built in obsolesence and short life expectancy, into providing means for all her citizens to get work, making things not purely for war/destruction.
She would use her phenomenal ingenuity and wealth to provide means for the poor to get self respect building employment, contributing constructively to their communities.
Possibly she would consider paying compensation to the nations she has assaulted in her self manufactured WAR on TERROR, and would behave like a sane, moral global citizen, wouldn’t she?
people like you tend to forget that the USA has a Congress that seems to outsiders to spend a lot of time doing very little to help the average US citizen, Or the citizens of other countries come to that – or so it seems to outsiders!
Yes, we older citizens apparently, in the eyes of younger readers, forget how we have been continuously betrayed, screwed, shafted by every government, every president, every prime minister since Abraham Lincoln.
Maybe our experience is something the younger ones could learn from.
All politicians, all leaders are nothing more than subservient dogs running at the heels of their voracious masters, the bankers.
Yes, you all have a congress which is supposed to control the lunacy and keep the tyrranical attributes, lusts of your leaders, under control.
Sadly the senate too keep their voting hands carefully hidden beneath their large, bribe fattened butts as they watch the citizens going down the gurgler.
You can always tell when politicians are lying, they have their mouth open.
Unfortunately, the majority of readers, voters, display a political and moral naievity which betrays their big words about changing the system.
No one actually does anything except whinge.
To change the economic collapse into a positive upward curve we have to nationalize the banks, put creation of credit back under control of the government, not in the hands of greed driven bankers and investors.
Community banking, as demonstrated in various states, is the only viable alternative, as you will never eliminate greed from the bankers and politician’s curriculum.
Send this site link to your local member and tell them you want change.
Tell them, unless you see change they won’t get your vote. That is the only threat we have to suppress their madness.
While I am by-no-means an atheist, what ever happened to the concept of “separation between church and state?”
It’s fine to bring Christian (and many other) sets of values into our physical world and our daily lives I must admit to being put-off by sermonizing contributors who use this site to reinforce their own, personal doctrines.
There’s an old, Scottish ejaculation: “Sweet Jumping Jesus!” which is not a curse, but a reference to the time wherein Jesus upset the tables of the money-changers in a temple’s vestibule. Get it?
The American constitution was written by Christian men who based their principles on the Ten Commandments.
It is only since America, and other once titled ‘Christian’ nations, have abandoned the moral codes, principles set forth in the Commandments, that our slide into decadency, depravity, immorality, and social bankruptcy has begun.
My position, as a Christian is not to tell any reader what they should believe, I really don’t care, it is a personal issue.
What some contributors have striven to exemplify is how we, as a society, need a set of standards by which to judge our social progress, our humanity, and for many, the Ten Commandments, NOT churches, seem to be an internationally accepted standard.
Jesus is sitting on my shoulder right now. He is whispering into my ear: tell them that the root of all evil isn’t money nor the love of money – the root of all evil is the love of having the chance to get other-earned money, aka overpay, aka money they did not earn by their own work, he says tell them that humans have climbed the ladder of success and found all evils, they must lay the ladder flat to have the picnic that was always intended for them, they must return quickly to the natural justice of each man reaps the whole of his labors – which is equal pay for equal sacrifice to working since we embarked upon our community project known as division of labor – he says fairpay justice is the only thing that is not subversive of peace, happiness, safety, prosperity, freedom from tyranny, liberty, security, fraternity, equality, sustainability – all the good things – he says fairpay justice is the only thing that makes any sense at all – he says fairpay justice is the non-negotiable price of human and planet survival.
Ahhh yes; people like me tend to forget, (what was it you said?)
We tend to forget the reality that congress is an interesting term, and maybe, if you have a look at the Karma Sutra you will discover a whole new meaning for the word ‘congress’.
I think it is also particularly applicable to American citizens, and what their politicians are doing to you.
It is congress which is now over ruled by the emergancy powers the president has made available to himself, isn’t it?
Is it congress who have allowed the government to take control of your food production and distribution, your communications systems, etcetera, isn’t it?
America was once a great nation, but, she, like all others, is in decline, as greed, perversion, immorality, violence, impropriety in high places has undermined your constitution and is leading you into socialist dictatorship.
But, I don’t remeber, did I really say that?
First of all I think this article and this blog as well as everyone on it are all AMAZING! You all give me hope that we can and will spread the word and re-educate the nation to stop being divided and conquered by 1% while the other 99% (1/2 Democrats & 1/2 Republican) blames each other for what 1/10 of the 1% did to us! God Bless you all, and I want to say a special “Thank You” to Ellen Brown, for a job well done!
I think that what needs to be done is simply “NATIONALIZE the FED,” and just 2 or 3 changes in policy and 95% of our financial woes will vanish in less than 5 yrs. Leave everything in tact, just simply take over the FED, and since about 80% of the Treasuries are owned by Banks that owe money to the FED, they’ll simply retire their debt to the Fed with the Bonds (Actually, the FED would simply cancel the obligations and retire the bonds that were purchased with the phantom money lent by the Fed).
About 80% of the domestically held debt will be gone just as it was created…”POOF” (Magic)! As far as the foreign held Treasury Bonds, just end the $400 Billion in Oil subsidies and in 10 yrs that $4 Trillion will retire that debt.
So what do we have left, about $4 Trillion in debt? We should reduce the corporate income tax to 25%, raise the Capital Gains back to 20%, and eliminate the government sponsored Tax Evasion (Policies) that rewards offshore manufacturing with Tax Free Earnings. , Both the exporting of jobs will stop as well as the hoarding of money, and their will be tax dollars flowing with plenty of domestic manufacturing jobs.
Lastly, reinstate the Glass-Steagall Act of 1933, and the Taxpayers will not have to ever “Bail Out Banks” again. Let Investment Bankers start underwriting for the “Small Business Sector and Entrepreneurs again, and there will be more jobs and an emerging middle class again as well as a booming economy.
As a direct result of deregulation and the repeal of Glass-Steagall Act of 1933 (Which is what separated the Banks from Wall St., and Insurance businesses), banks went out of the banking business and went into the Gambling Business with NO RISK. As things are still, if their bets work out the bankers pay themselves Bonuses. If the bankers bets don’t win, either the government bails out the bank (With our money) or they bail out all the “Depositors” (Through the FDIC). The bankers have “No risk…”
Glass-Steagall was created to separate the risk investments from Banks so that the banks would stay safe for depositors, and by doing so the government was able to create the FDIC which guarantees deposits, and rarely has to do so because the banks were simply not allowed to gamble. That was 2what “Investment Banks were for, and why the SEC was created (To regulate Wall St firms). Since the banks were allowed to take over Wall St. (As of 1999 when Glass-Steagall was repealed), they blew up the stock markets, the Bond markets, and created a financial melt down as they did back in 1929, which led to the Great Depression and WWII.
After the markets melted down in 2001, as they were then controlled by the Banks for less than 2 yrs (Along with further restrictive legislation that hurt the small independent Wall St firms), 99% of the small firms which underwrote small businesses went out of business or were acquired by the larger firms then owned by Banks. As a result, the small business sector, “The largest sector of Employment of our nation” was shut off from Capital. Small business employed 75% of American workers from WWII until 2001; so how were they going to replace those jobs when large corp’s were being rewarded with “Tax Free” advantages if they moved manufacturing jobs offshore? That’s what happened to American jobs…
Simply put, if 6 people play Monopoly and only 2 people get to collect $200 when they pass “Go,” then shortly after the game starts, everyone other than the two people collecting Capital to buy properties will be bankrupt (Out of Money), and only 2 people will own everything. Capitalism works just fine, as long as “Everyone” has access to Capital!
We’re only talking about a handful of changes, and everything else will fix themselves… In less than 5 yrs our nation would be “Debt Free!”
Without a constitutional mandate, the United States does not have a legally enforceable currency in circulation other than government issued coins.
When the Supreme Court ruled five to four that the mandate is unconstitutional under the Constitution’s commerce clause, it opened the door to far greater problems than those in the healthcare legislation. Furthermore, house Republicans are on record emphatically supporting the Supreme Court’s ruling, reinforcing the limit on Congress’s power to issue such mandates requiring citizens to buy products and services from commercial enterprises.
As it turns out, the Federal Reserve banking and monetary system is commercial enterprise, a cartel, consisting of the Federal Reserve Central bank in Washington, D.C., the twelve regional Reserve banks, all banks holding national charters and some banks holding state issued charters, its making trillions in annual profits from interest on its currency.
With the exception of coins, all currency in the U.S. economy is issued by the Federal Reserve System as the principal of loans, its central banks making them to the government, and commercial banks making them to corporations, institutions and individuals using fractional reserve lending procedures and rations. The system creates 99.92% of all U.S. currency and someone’s debt.
Federal Reserve currency can only function with this congressional mandate found on all Federal Reserve notes: “this note (currency) is legal tender for all debt both public and private.” If someone owes a debt, Federal Reserve currency must be accepted as payment, under the law. The law requires that even the government must accept their currency as payment of the taxes.
Here is the rub: if Congress does not have the authority to require the purchase of health insurance or broccoli, it does not have the authority to require citizens accept Federal Reserve currency as legal tender for the payment of public and private debt.
So, the United States does not have a legally enforceable currency in circulation other than government issued coins.
On the other hand, Congress does have the enumerated power to issue all the American currency we need or want.
There are many things we “should” do to free ourselves from debt slavery but the problem is TPTB won’t let it happen, because then we wouldn’t be slaves anymore. Taking a wider perspective, what we are seeing is a repeat of the intergenerational social cycles like Kondratiev waves that involve a prosperous middle class becoming complacent in its prosperity due to a few generations separating it from the struggles of previous generations that established the institutions to make this prosperity possible. This complacency allows the public’s institutions to be taken over by the 0.01% elites and the plundering to begin. This increasingly impoverishes the masses as economies and social order break down, until the point that it’s no longer functional and a revolution occurs. This tends to happen every few generations.
But the problem now is that there aren’t enough natural resources left to restart another Kondratiev cycle and return to growth and prosperity.
What should we do? Well, of course we must eliminate fractional reserve banking because it requires economic growth and this is not possible anymore. In fact, there is now no need for banks at all since economic growth is finished and therefore credit is no longer required. Get rid of the Fed and restore the power to issue money back to the government as a debt-free, interest-free currency. We need to constitutionally ban interest (it was banned for much of human history for good reason) because without economic growth, it implies wealth concentration.
Unfortunately the future does not look good, I don’t have very good news on that front. The world is now at Peak Oil and the US hit it in 1970. It’s only the status of the US dollar as reserve currency enabling the American Empire to continue importing half of its oil since then that has allowed US economic growth to continue. We are witnessing the end of an empire.
We will soon be entering a Malthusian Collapse because our parents did nothing to make a transition to renewable energy (95% of the energy the world uses still comes from burning dead things that used to be alive). It will not be possible to maintain 8 billion people without the energy inputs from fossil fuels.
http://markbc.net/dont-expect-miracles-from-fossil-fuels/
Markbc. Yes what you are saying is particularly relevant, especially in relation to interest. If only a specific amount of capital is produced, according to the will of the bankers, where does the money, the extra 10%, (in fact 20%, ) come from? It does not exist as it has never been manufactured, put into circulation, therefore can NEVER be paid. I am not familiar with the Kondratiev cycle. I have trouble with a push bike, but the only way to restore civilization is to nationallize the banks, take control of the creation of credit out of the hands of thieves, (the reserve bank and her ghoulish, blood sucking spawn, private banking) and put the money back into the hands of the people whose work produces the wealth. By the way, for the CIA operatives listening in, this is NOT a communist plan, nor an attack on America’s sovreignty, but a statement of fact. It is time the people ran the nation, not the multinational corporations, the banking syndicates and the religious lunatics now controlling far too much of politics. Yes, money, using the Douglas Credit banking system, WOULD be created as a CREDIT to the community, not a debt, and it would only be a short time ’til the community got out of debt, decided not to have wars anymore and to get on with being HUMAN, not slaves to the capitalist scum bags who are now controlling our lives.
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We have the same problem In the UK, and the same cure would be ideal. however the politicians are blind to any other way out other than the disaster we are going through right now. while banks etc are in charge nothing will happen, money will concentrate and not be spread around as it should.
WANTED: a constitutional attorney, a real gunslinger willing to take on the banking establishment, to file an injunction barring local, state and the federal governments from accepting unconstitutional currency as legal tender for the payment of taxes.
The Supreme Court recently ruled that federal mandates requiring citizens to buy, use or accept the products of commercial enterprises is beyond the power and authority of Congress. The Federal Reserve System is a commercial enterprise, producing 99.92% of currency circulating in the U.S. economy. It is a cartel, consisting of the Federal Reserve Central bank in Washington, D.C., the twelve regional reserve banks, all banks holding national charters and some banks holding state charters that purchased shares in the Federal Reserve System. Federal Reserve currency has a congressional mandate requiring citizens and government to accept it as ‘legal tender for all debt, public and private.
Without that mandate, Federal Reserve Currency has no legal standing in court, leaving the United States without a constitutionally legal currency.
Quote: “The Federal Reserve System is a commercial enterprise, producing 99.92% of currency circulating in the U.S. economy.”
Are you saying that .08% of our currency is counterfeit?
Yes, if the citizens forced the government to make these changes, to nationalize the banking system, to implement Credit Banking, America, every nation in debt, would be free of financial slavery in 24 hours.
Then natioins would be able to spend their money on their people, on hospitals, roads, creating local jobs, building schools, restoring self worth, self respect to their citizens.
We could stop these idiotic, economically devestating wars on each other, as we would all be eating well, able to enjoy our miniscule moment in eternity here, and could tell our politicians that, if they want a war, they could go fight it, themselves, we’re doing alright..
Unfortunately that is not going to happen, as our (for want of a nother name) leaders are intent on serving their master, satan, as they lead us, push us into hell, and the masses have been duped by BIG MOTHER’S media machine and education system into believing we are incapable of instigating change.
Wake up people before your government declares war on YOU!!!!
re “introduction” from book seen at webofdebt.com, and” the government(s) are broke”. they’re not broke, not even. aee cafr1.com and cafrman.com. thanks, margaret.
thnx
i especially emphasize these “state of..,city of… county of….etc.” municipal corporatiopns are NOT bankrupt!. their budgets say empty, but their comprehensive annual financial reports (cafr’s) say “surpluses”. they can run deficits and surpluses at the same time.
i protest the use of the word (s) “bankrupt”, “broke”, etc. in reference to tthem. using those words is self-deceiving. truth.
I go from disgust to amusement with the people who talk about the US going “bankrupt” when the government owns and operates the only machine which produces legal dollars. The issue is not bankruptcy but money supply in the economy and that is a very interesting subject at the present time. The total dollars in circulation in the world is about 2.6 trillion, up from about 1 trillion before the start of the Bush depression. Now, the amount in circulation in the USA is about 1 trillion. So how can the debt of 16 trillion ever be paid? If all of the cash in the world were confiscated it would only pay a fraction of the debt. Any comments from those who have gotten beyond Economics 101?
Ellen Brown, I admire your work. The best writen and most easily understood articles/book on the world of finance that I have read.
It may interest readers unfamiliar with how Australia rode out the GFC. We adopted the Bernanke helicopter option and a modest infrastructure program. Money was put directly into every tax payers bank account and every school was ‘upgraded’.
There was barely a blip in unemployment (still only a shade above 5 %) and we were well positioned to take advange of the various stimulus packages appearing around the world, improving our trade position. There was no significant local economic crisis diverting our financial resources and efforts.
Australia still seems to insist on pump-priming the housing sector and we do have a bubble that when burst, will be very loud. The financial packages are targeted at first home owners building a new house. The young are very exposed and highly leveraged.
The gold standard – this is an interesting debate.
The detractors insist that supply is the issue – there is not enough gold to go around. All that means is an increase in the value of gold. Why do we have to peg money to a quantity of gold? This has been the problem with any commodity-based currency where the metal value becomes higher than the denomination attached to the metal. Solution – do not attach a currency value to the metal.
The US has the solution in their pockets but ass about face. The nickel has a value of 5 cents or 1/20 of a dollar. Allow the nickel to float then a nickel will be worth 10 cents tomorrow or 10 to the dollar. Pegging the nickel to 5 cents is the problem. A nickel should be a nickel at whatever value it has in dollars on a given day. This can apply to gold or any other commodity used. A car can be bought for dollars or a quantity of nickels on any given day. Locally the car may maintain a fixed dollar value based on domestic pricing but the value would change in a macro sense (nickels) with the ebb and flow of GDP, trade or economic health and wealth.
In this way a country can maintain the relative value of a currency-commodity based on money supply.
It would be an interesting country if inflation was zero, interest rates stable but reasonable (to prevent hoarding nickels) and finacial planning was real, rather than a guessing game.
Does it matter if gold goes to $100,000 an oz? You pay for your house with 3 golds, 8 silvers and 5 nickels. This is not inflation in the price of commodities but the relative value of fiat currency.
The basket of currencies currently used to determine ‘value’ would dissapear and all currency values would be relative to how much of a currency is required to purchase an oz of gold, silver or other (specified?) trade commodity.
Play games with the local currency and there would be a flight or hoarding of commodities – real value.
If you think that the US dollar is a floating fiat currency, think again. It is attached to a different commodity – OIL. When this attachment to a commodity is broken then the US dollar is in dire straits as dollars return to the nest. Your economic masters could not allow the dollar to ‘float’ in a real terms. This will be the likely cause of your next major war.
Trade specified in US dollars is the straw and if/when that stranglehold is released, progress and prosperity will return to the world.
I am a keen supporter of Ellen and want to do what I can to help the cause. One area I can contribute is through alerting you to some new technology we have developed. This is a little hard to explain in a few words, but basically it is a link that can get legacy systems talking to each other. amd has the potential to handle every financial transaction on the planet for a tiny fraction of what it currently costs. The benefits being linked into this system offfers public banks range from making them far more efficient than private banks to giving money an electronic signature that makes corruption and counterfeiting extremely difficult. This system has no private bank investors and so currently there are no conflict of interest issues. Please get in touch if you would like more information
I stand by my original opinions, taxpayers have been passive non participants during this entire financial manipulation. Soon investor focused trade agreements are going to circumvent the very governmental laws and regulations that sovereignty is supposed to guarantee—- accountability. What are taxpayer/citizens going to do when local and provincial governments are made irrelevant by the investor/shareholder rights to benefit monetarily as an absolute condition to any of these trade agreements? There are no cited taxpayers yelling out to all of us about how much they benefited. All anyone has finally ended hearing is how they have suffered. Either taxpayers start to get off their knees and stop hoping the media hype will translate into reality and begin to demand the control they yearly pay for. I mean how dumb can taxpayers be to believe that they can trust politicians that demand their money while saying we don’t trust them enough to not keep all aspect of these trade negotiations secret from them but totally not only inform financial/corporate interests but allow them direct input (if not the right to write their own controls and means of suing any governmental effort to act legally). Look only to the outstanding legal obligations NAFTA left us —we are on the hook for 1.8 billion dollars for shareholder lawsuits based on any attempt to enforce safety or environmental laws that are constitutional acceptable. Does that sound like we live in a sovereign and democratic nation or not?
I have yet to read your book and ideas, but one such comes to mind as THE solution feared by most if not all but a handful of people; why don’t we just ELIMINATE money! It seems to be the root of all our evils.
Imagine a world where every human put in his/her 40 hour week during his year of work and received in return access to an equivalent expense account of 250,000!
Everyone would have all their needs covered and NO ONE would be able or have the need to amass anything.
Too god to be true!
It would definitely eliminate the need for greed, taxes,and the present system!
Without money, how do propose to determine what work needs to be done? Money is the medium of exchange and the free market determines the most valuable ways we can work for each other. You should read Web of Debt. If you do you will find the evil isn’t money. It’s the absence of money and the private credit that has replaced it.
G’day Ellen:
Hello from downunder.
I’m half way through your book and am in awe of your astounding research, the quality of your material, your writing style and your book’s comprehensiveness.
Web of Debt is easy to read yet packed with useful material and technical content. It should be difficult to read yet is not.
Yours is an authoritative work.
I’m ordering 30 copies to send to friends and to reps in Australia’s national parliament.
Well done.
Much appreciated.
Malcolm Roberts
Brisbane, Australia
thank goodness someone in some position is at last taking notice of the necessity for change. All we need now is for the rest of the world to take notice particularly the city of London.