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| Still Report SR70: State Of The Economic Union in forum [Market-Ticker]
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Satindoll
Posts: 27
Incept: 2011-10-20
Banned
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The Money Masters - a very good though very long docummentary narrated by Bill Still has created a paradign change for me in how I view politics and the economy. Glad to see Bill Still has an online site.
It is horrifying to realize that a few elites control everything because they have huge amounts of money and thus the power over our lives.
Is a revolution really necessary? Or can the message be disseminated through the internet sufficiently to effect change through the ballot box? With this online site I hope there is broader knowledge about how our monetary system works, and exactly who are pulling the strings of this puppet President of ours.
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Ruaslave
Posts: 108
Incept: 2012-06-30
Republic of Texas
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We are not voting our way out of this so forget the ballot box. Like the eternal laws of nature, I expect the Math to be the wake-up call for the people. Whether a revolution results or not remains to be seen. But history shows us the outlook is grim.
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Math is a Bitch and she don't care. - R.U.A. Slave
My idea of non-partisanship is not that there are politicians who just have different ideas of what is best for the country. My non-partisanship is they are ALL crooks and liars.
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Steelhead23
Posts: 2037
Incept: 2008-09-09
Portland OR
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I love this guy. You know Gen, I have learned a lot about monetary policy over the past few years of blogging, but I do not yet have a strong grasp of how sovereign coinage would work. Still argues that Congress should assert its authority over the issuance of currency, issue as much as necessary to conduct government business, and never have either debt or payments on that debt. I happen to think this is a great idea - but, there are these folks in Congress that seem to have prodigious appetite for spending. Spend too much money into the economy and there would be inflation. So, how could we get the damned banks (including the Fed) out of our business by having the gov. issue currency directly and yet avoid significant inflation? And I don't believe politics could control the situation - because the control of the purse would tend to make our pols even more of a Santa Claus than they currently are.
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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Bertdilbert
Posts: 2650
Incept: 2008-12-22
CA
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Great video Bill.
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Dear Euroland: Relax, Germany has a plan for your money!
Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
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Hogman
Posts: 7874
Incept: 2008-02-18
Derby City, USA
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Yep thanks
-Bill
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Sjobthom
Posts: 1
Incept: 2011-06-10
Netherlands
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I don't understand when ppl say there is no money printing. How exactly does fed get the money for 85 Billion worth or asset purchases every year?
They don't borrow money from the big banks for that. They create it out of thin air.
Besides, it is true that the Govt uses the big bank networks to do smooth treasury auctions. But how much of it do they actually hold? Isn't the vast majority of these bonds held by parties other than the big banks?
Blaming the banks alone is not correct. The banks and the Govts are joined together at the hip. Both are equally responsible. Who elects the Government? How many people will vote for a candidate who will take away their 'entitlements'? Breaking the banker-govt nexus is not independent of entitlement cuts. The former will result in the later (rather quickly).
We get what we deserve.
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Nuke_engineer
Posts: 2698
Incept: 2007-08-19
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As much as I agree with Bill Still, he's just a dying voice in the wilderness of media. He sounds like an old whining man, unfortunately. We need a dynamic, hard hitting spokesman with credentials. The political and media equivalent of guerrilla marketing needs to happen to wake up enough people to get the ball rolling, otherwise we're just flapping some noise into the winds of opinion in this country.
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Trading and investing is understanding about people, emotions and corruption of government, corporations, banks and people using propaganda, lies, mathematics and bankster logic working against you.
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Susanjbear
Posts: 417
Incept: 2010-06-10
Salt Lake City, Utah
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Our politicians and the media have been bought off - which I was aware of already - and the mere field of economics is beholden to the Federal Reserve - which I have not really thought about before. We need alternative media and alternatives to the traditional education path here in this country now, more than ever. Quote:We need a dynamic, hard hitting spokesman with credentials. I remember George Carlin asking where are all the bright honest people who will step up and lead. They don't and they won't. Politics attracts the worst people. Quote:We are not voting our way out of this so forget the ballot box. If and when the asset markets crash again things could get interesting real quick.
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Susan
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Satindoll
Posts: 27
Incept: 2011-10-20
Banned
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To Sjobthom
Our government should print our nation’s money, not the privately owned Federal Reserve Bank.
Step 1. The Fed Open Market Committee approves the purchase of U.S. Bonds on the open market.
Step 2. The bonds are purchased by the New York Federal Reserve Bank from whomever is offering them for sale on the open market.
Step 3. The Fed pays for the bonds with electronic credits to the seller’s bank, which in turn credits the seller’s bank account. These credits are based on nothing tangible. The Fed just creates them from thin air.
Step 4. The banks use these deposits as reserves. Most banks may loan out ten times (10x) the amount of their reserves to new borrowers, all at interest. This is called Fractional Reserve banking.
In this way, a Fed purchase of, say a million dollars worth of bonds, gets turned into over 10 million dollars in bank deposits. The Fed, in effect, creates 10% of this totally new money and the banks create the other 90%.
[Step. 1, Step. 2, Step.3, Step.4, and the above paragraph are from the documentary The Money Masters.]
But these Federal Reseve Notes are debt, from the American people to the owners of the Central banks. And people wonder why the U.S. is so deeply in debt?
What Bill Still is advocating is what President Lincoln did during the early 1860s; print US government greenbacks. This would shut out the Money Masters, who hide their identities behind companies owning central banks and banks controlling the IMF and International Bank of Settlements.
Reason: Unattibuted source correction.
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Pietertvl
Posts: 3587
Incept: 2007-12-05
NFA
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I agree with Congress spending money into existence, rather than borrowing it.
Steelhead still has a legitimate question though. How would you keep Congress from spending like drunken sailors? And how would you handle wars, if you couldn't keep the country out of them -- (which is how the bankers would propel the country back to private central banking, of course).
A couple of ideas -- tie Congressional salaries inversely to a spending cap, at 15 or 12 or 10% of GDP. Go over it, and their salaries fall proportionately. Or set salaries inverse to the CPI. If prices go up, salaries go down.
Defense spending over x% of federal budget must be financed exclusively by taxes. In theory, that should make the nation think twice about foreign adventures.
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"All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." ~ John Adams
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Blurtman
Posts: 563
Incept: 2009-01-24
Banned
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Kill the bankers!
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I have a reading comprehension problem and the owner banned me for repeatedly displaying it after being warned.
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Smacktle
Posts: 1358
Incept: 2009-01-20
Texas
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The real problem is you have to have a solution everyone agrees upon.
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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
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Gweedo
Posts: 97
Incept: 2010-11-12
Florida
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Sometimes I wish I took the blue pill...
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