"This begs the question: Why doesn't government create its own money
for its own expenses (called "non-debt based fiat currency"), instead of
giving the power to create money to a private corporation (i.e. the
Federal Reserve), which collects interest on it?"
IIRC my history correctly... Napoleon tried to do just that....
Jason C wrote:
No comments on the links I sent, eh?
*/Jason C <[EMAIL PROTECTED]>/* wrote:
Please, enough partisan talk - the Republicrats are bowling on the
same team, and they're creaming us, on the other team.
I agree with the petition. However, the MAIN reason oil prices
are going up is the HEDGE FUNDS run by Morgan Stanley, Goldman
Sachs, Citigroup, JP Morgan Chase. Why are they doing it?
http://www.financialsense.com/editorials/engdahl/2008/0502.html
--QUOTE--
"today's oil prices are really determined is done by a process so
opaque only a handful of major oil trading banks such as Goldman
Sachs or Morgan Stanley have any idea who is buying and who
selling oil futures or derivative contracts that set physical oil
prices in this strange new world of "paper oil." "
BTW the amount of capital the above top 4 hedge funds have is on
the order of EIGHT years of the USA's economic output. Yes, EIGHT.
Interestingly the same companies that own these hedge funds, are
the same top corporate contributors to O-bomb-uh and McSame. Just
look at Obama's top 10 list - in there are Morgan Stanley,
Goldman Sachs, Citigroup, JP Morgan Chase. He ain't gonna turn
his back on them:
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638
<http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638>
Now look at McSame:
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00006424
<http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00006424>
Same four hedge fund companies.
To help you understand the hedge funds and the rest of the
financial cartel, read this book. It was a REAL eye opener for me
(I used to think the gold standard was a panacea, for instance):
http://webofdebt.com
Wonderful allusions to "The Wizard of Oz". It's a stunningly good
book which goes into the lots of historical detail of money and
money politics, fiat currencies and the gold standard, from 5,000
years ago, through Europe's middle ages, and the birth of the USA
to the present, including the present subprime mortgage mess which
has the economy teetering on a precipice, as well as the currency
speculation attacks by the same Hedge Funds on the Asian "tigers"
in the 90s (Thai Baht currency crisis), and the attacks on the
Mexico and Brazil in the 70s and 80s.
The central banks create money out of nothing (aka "fiat" money),
and LOAN it to government, expecting to be repaid WITH
interest(!). (this is called "debt based fiat currency") This is
done via "monetizing the debt" by the Fed. The commercial banks do
the same to consumers and corporations via "Fractional reserve
banking". This system was invented several hundred years ago in
Europe, and was one of the causes of the American Revolution.
This system is the reason for the spiralling unpayable debt of the
federal government today.
The financial corporations that got rich off of this back then are
still alive and well today. The ramifications of this system
(debt based fiat currency) are well explained in the book. This
begs the question: Why doesn't government create its own money
for its own expenses (called "non-debt based fiat currency"),
instead of giving the power to create money to a private
corporation (i.e. the Federal Reserve), which collects interest on
it?
Several alternate fiat systems and asset backed currencies, and
banking models, and attempts at such, are discussed in the book.
Caution: if you're like me, a voracious reader, you can't put this
book down.
------------------------------------------------------------------------
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