Dear Friends of the American Monetary Institute
(Please forward!)
You're invited to attend 3 free monetary seminars at AMI Chapters in
Massachusetts and New York City. *Please forward* this invitation to
friends in those areas. We'll discuss what caused the money crisis and
how to fix it!
_*N.Y. City, *__*Monday December 1st,*_*_ 6 to 8 PM_* at the Henry
George School at 121 E. 30th st. Conversation from 5:00 PM; talk starts
at 6PM. Late arrivals OK.
(Please call 224-805-2200 to confirm time, and so we can arrange
refreshments). *
*_*Shelburne Falls, (North Western) Mass., *__*Sunday, December 6th*_,
at the Arms Library, Main and Bridge Street, 6:00 - 8:00 PM.
Come and join us. Light refreshments are served and we'll have a good time!
_*Sherborn, Mass. (Boston Suburb) Saturday, December 7th*_, 2:00 - 4:00
PM at
The Peace Abby, Two North Main Street*.*
_*
*_And Here is a brief essay on the recent G20's Official Report:
_*The G20's Continuing *__*Free Market Disease - a Religious Saga?
*_What do you get when a religion masquerades as a science?
You get what's know today as "Economics!"
Why do we identify it as a religion?
Because it is a belief system based on faith,
Where enshrinement of those beliefs is independent of evidence, pro or con;
Where its bad effects are regularly dismissed as "anecdotal;"
Where it's high priests, the economists, such as Ludwig Von Mises,
assert that their theories (beliefs) cannot be dis proven by mere facts (!);
And where they actually get away with those statements that are so
destructive to sound thinking methodology.
A recent example is the official 18 point statement released by the G20
group of countries after their emergency meeting last Weekend (Nov. 15th
and 16th). Lawmakers and citizens should regard it as an insult to the
intelligence of all thinking and working Americans.
Most of its' 16 points refer to actions that common sense and decency
would have required them to have already been performing, especially
over the past lawless decade. So it all reads much like closing the
gates after the thundering herd has run off. The first reaction to it is
therefore "yeah sure," followed by a big yawn. But its worse than that.
Particularly points # 2 and # 12, quoted below from the
official G-20 Statement on Financial Markets and the World Economy:
"2. Over the past months our countries have taken urgent and exceptional
measures to support the global economy and stabilize financial markets.
These efforts must continue. At the same time, we must lay the
foundation for reform to help to ensure that a global crisis, such as
this one, does not happen again. Our work will be guided by a shared
belief that market principles, open trade and investment regimes, and
effectively regulated financial markets foster the dynamism, innovation,
and entrepreneurship that are essential for economic growth, employment,
and poverty reduction."
*This is horrible. They are saying that one of the main causes that
facilitated the problem -- the notion of so called free market ideology
-- must still reign unchallenged. This while the only reason anything is
still standing in their ridiculous financial world is because of our
government.
*
And they do it again in point # 12:
**
"12. We recognize that these reforms will only be successful if grounded
in a commitment to free market principles, including the rule of law,
respect for private property, open trade and investment, competitive
markets, and efficient, effectively regulated financial systems. These
principles are essential to economic growth and prosperity and have
lifted millions out of poverty, and have significantly raised the global
standard of living. Recognizing the necessity to improve financial
sector regulation, we must avoid over-regulation that would hamper
economic growth and exacerbate the contraction of capital flows,
including to developing countries."
*
There's that old destroyer again -- "Free market principles." Its their
heavy artillery in the class warfare those who these people represent
are committed to. You see how desperate they are to bolster this
ideology. But Greenspan has effectively destroyed it (Thanks Alan!). See
or request my recently sent essay on Greenspan's Admission of
Methodological Error.*
Well a week later the *_Asia Pacific Economic Co-operation_* group
meeting in Lima Peru, issued a two page statement, that continued to
promote this failed market religion. It included these two pledges,
which continue to ignore and evaluate the negative effects of the
theory, in order to support the religious belief in the market as God:
"We reiterate our firm belief that free market principles, and open
trade and investment
regimes, will continue to drive global growth, employment and poverty
reduction."
and:
"We reaffirm our commitment to the Bogor Goals of free and open trade
and investment in the Asia-Pacific as a key organizing principle and
driving force for APEC."
But reading their statement, the only proposed actions that make sense
are those promising greatly increased regulation, rules and governmental
oversight. In other words, with curtailing the religious free market
experiment. That is hopeful.
Friends, its interesting that many of the free market people, being
libertarian oriented, would probably qualify as agnostics or atheists,
when it comes to the mainline religions. Yet their great need to kneel
and worship the market God, demonstrates a powerful, if misplaced
psychological need for a religious experience. They even conjure up
"holy ghosts," and call them invisible hands!
The first step in eradicating a sociopaths destructive behavior is to
recognize the problem. Sad to say, the G20 and the APEC have not yet
done that. Lets hope President Obama receives better advice and Counseling!
As Congressman Dennis Kucinich said in his election victory speech:
*"We have to look at the role of the Federal Reserve...That isn't a
Democratic or Republican issue.Its an issue that relates to whether were
going to control our own government. The Banks took over the government
with the bailout. We borrowed money from the banks to give to the banks
so they could offload their toxic debt or hoard the money or use the
money to buy other banks! Our country is in jeopardy because of this and
_/the only way out/_ is to take a new look at the way we create money in
our society...we have to not only prime the pump of the economy the way
Roosevelt did but we also have to look at the structures in our society
that are causing this acceleration of wealth upwards."
*See the inspiring 3 minute conclusion at
http://www.youtube.com/watch?v=x2Xez11JfVM
Sincerely,
Stephen Zarlenga
Ami
http://www.monetary.org
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