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And a nice take it was. Simple yet explanatory.
From everything I've read, Wilson's famous confession is unverifiable. Maybe he said it, maybe he didn't, but no one that I've come across has been able to produce written proof or sufficient witness testimony to 100% confirm it. If you you look at the discussion page on Wilson at wikipedia, they won't allow that quote for those reasons. That's probably why it wasn't in that list of quotes I posted. Nevertheless, the accuracy of the statement is true, whether or not Wilson himself ever said it.
I've wanted to start a comprehensive Fed thread for awhile, but I guess I never got around to it. I guess I might as well start one soon. But my take on the Fed goes way beyond skepticism. The Federal Reserve is a privately owned co-op of banks that is allowed to issue our money with no backing. That is no conspiracy theory; you can find that info in any money and banking textbook. Almost everyone thinks that the government issues our money; they don't. The dollar is a bank note issued by a group of private banks collectively known as the Federal Reserve - more info that is in any textbook on the subject.
People think that banks make all their money by charging interest on loans. They do not. Banks make money by, literally, making money. They do then charge interest on that money, but the bulk of their profits come from having the legal right to create credit, or money.
Imagine if you and a group of friends owned a printing press and the government told you that you can issue the money of your city. You then print money and and loan all of it out at interest. Pretty good business you have there. That is central banking. Then, the goverment allows you to loan out 10 times the amount of actual paper money that you posses in the form of credit that only exists in a database. If you posses $1 million dollars in paper money, you can loan out $10 million dollars worth of credit. That is fractional reserve banking.
That is how the banking system works, except it operates on a much, much larger level across the whole country and beyond. If you put these facts in front of someone who supports this system, they will tell you that, yes, the owners of the system gain from all of that, but so does everyone else because it is the best way to run the economy. Economic theory tells me that if someone is telling you that everyone is getting something for nothing, they are either lying or they are ignorant. Everything has a price; the question is who is paying it. That's my short take on the Federal Reserve.
As long as the Fed runs things, the value will be decreasing. Perpetual inflation is essential to keeping the system going.
And a nice take it was. Simple yet explanatory.
Zeitgeist: Addendum
Much more focused on money, corruption and dreams of Utopia.
Once again, this film has ruined my month.
I just watched a few night ago, all I can say is wow, but what the can I as an individual do without being pegged as a quack? I'll just sit here and take it like everyone else I guess.
This movie has got me thinking some very violent thoughts that Im not quite sure who to direct them towards.
did jean paul sarte write this thread ? or actually, i feel like i am reading something from samuel beckett.
It should be noted that Peter Joseph has backed off of his stuff about 9/11 which is in addendum.
Fresco is an amazing guy, the common sense just oozes out of his pores. If you want to see more (couple good presentations/lectures with both Peter and Fresco) go here... http://www.thezeitgeistmovement.com/...php?Itemid=50#
The thing for me with this stuff has always been the implementation of this "resource based economy". The world is going to have to melt down before any of this stuff could ever take place. The monied interests which control the world (and it's militaries) will never let this happen. Their end-game just isn't possible within the next few generations, IMO
The thing about all the monetary policy and currency stuff is this: it is, and has for a very long time, been a socially constructed reality.
That is, the entire monetary structure of the planet has been predicated on all of us agreeing (or being too ignorant or powerless for our disagreement or rejection of it to make a difference) that these pieces of paper stand for what we say they stand for. As long as all the currently powerful nations of the world buy into the reality, the rules are predictable and enforceable. And we all live or die by those rules.
But now there is China. And God help us all.
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