This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve.
We are absolutely without an honest monetary system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent people can investigate and reflect upon these days. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.
We Americans are like the passengers on the Titanic 10 minutes after the mighty ship struck the iceberg: there is virtually no evidence to those on deck or those snug in their warm cabins that everything they reckoned was safe and secure was doomed to perish. Only those who witnessed the damage below the waterline, and who fully understood the limitations of the ship's design grasped that the loss of the ship was inevitable and could not be reversed.
Our nation's current monetary system, which has been based upon fraudulent, unbacked, irredeemable, counterfeit currency that just
Thirteen Families can simply create out of thin air any time they wish, and then pretend to loan it to us at interest, doesn't qualify as "money" under any traditional definition of that word, and it's as doomed as the Titanic, and for the same reason: its flawed design.
"But if in the pursuit of the means we should unfortunately stumble again on unredeemable paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Unfunded paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Fraudulent money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." - President George Washington, in a letter to Jabez Bowen (1787)
Read | Post Comments
