I am not interested in arguing the point or making a case. It is too late for that.
If you and others cannot see the simple mechanics there is no point in talking about it.
It will all wash out soon enough.
The US right now is not in the position of creating any new currency--period.
Most simply do not realize how bad things are.
As far as your theories are concerned, there is no question thatUS debt-credit is a disaster that sends money to the top, both privately and through the Federal government, as Kucinich says.
That is exactly what it is intended to do, and has been intended to do from the beginning.
Yes, currency should be debt-free, but there are many different ways to manage that.
As it stands you and most of the economists and money theorists are missing a central point.
No matter what the monetarists say (they are agents of the system and say what they are paid to say, consciously or unconsciously) debt-credit quasi-currency is not a commodity, and that is not, as you hold, what the system "allows".
The collapse is a clear indication that it is not allowed at all, whatever the clowns say.
It is more complex than that, and things are much worse than you seem to think.
I might phrase your blind spot very precisely in a few words or phrases that will never occur to you in a hundred years, but if I did so you would surely tell me, as you have before, I am simply putting what you say in different words.
So why bother?
I am not against tthe gist of what you say, and agree with Kucincih, but much of the theory and analysis implied below is egregiously in error, not only historically but economically.
All the best.
EAC
L'observation consiste simplement
en l'intérêt jubilant montré par l'enfant
à la vue de sa propre image dans un miroir....
--- On Wed, 3/11/09, Geraldine Perry <healthadvantage@comcast.net> wrote:
From: Geraldine Perry <healthadvantage@comcast.net>
Subject: [PDI] Dennis Kucinich describes One Simple Reform that will fix the leading cause of world's ills
To: "Gene Costa" <costaeugene@yahoo.com>
Date: Wednesday, March 11, 2009, 5:44 PM
LESS than 1 1/2 minutes of your time:
http://www.youtube.com/watch?v=-r_-QRKyu6g
Call/contact your Congress critter today and as often as you can and demand
that Congress support Dennis Kucinich and do its Constitutional duty to coin
(create) money and regulate the value thereof.
If you still believe our money and currency should be backed by precious metals
or that it is the government (and not the banking elite) that is the root of the
problem - please CAREFULLY watch these three you tube segments, less than 25
minutes total time to watch all 3 segments, beginning with this one:
http://www.youtube.com/watch?v=9E0UPBtmTb0
Following are some of my additions/reiterations to Dale's presentation to
help dispel common myths:
1. The common myth is that debt free Constitutional money leads to mischief -
when in fact it is debt-based money that has ALWAYS led to mischief and much
worse. This is true whether metals or paper are used as money. When money is
created as debt, be it paper, or metal, it is treated as a commodity which
allows those in control to obtain monopoly power over it, and government is
turned into the servant of the money power/monopoly (as Jefferson foretold).
This is why one of the Rothschild's said "I care not what puppet is
placed on the throne of England to rule the Empire, the man that controls
Britain's money supply controls the British Empire.And I control the money
supply." This has been going on for 1000s of years!
2. Today, we have to keep reminding ourselves that although currency is printed
at the Bureau of Engraving, this is only a TINY fraction of the money supply -
and it is ONLY printed AFTER the government has in effect borrowed more
"money" from the privately owned banking system. In short - our
government does NOT create our money - the private banking system does, and the
banking system is the prime beneficiary - NOT the government! (Hence a
Rothschild scenario is in operation).
3. The money creation system I describe in my book and in the slide
presentation on my website (which is closely aligned with the American Monetary
Institute, with one important element added, as described in the intro page to
my slide presentation) minimizes, if not eliminates that kind of "you
scratch my back" scenario through transparency, extinguishment and in
response to the demand coming directly from the people's own productive and
consumptive capacity.
4. As Byron Dale said - money is a TOOL, nothing more - nothing less. I urge
you to read carefully my page on What is Money (as well as Quotes on Gold and
notable quotes pages):
http://www.thetwofacesofmoney.com/index.php/Site/WhatIsMoney
5. As to metals having an advantage because they are limited this is the EXACT
reason why they should NOT be used as money (something argued hard and often by
Franklin, Jefferson, Lincoln and others). Recall that fractional reserve
(creating money as debt) was invented at a time when metals were used as money.
6. We labor under the media-created myth that the government prints money, when
in fact money is created (mostly as computer digits) when debt is issued.
Consider that today the total outstanding debt (public and private) is FAR
greater than our money supply. Thus our total debt is $53 trillion and climbing
rapidly, while out money supply, using the broadest and now unpublished measure
of M3 is around $14 trillion (give or take a trillion). If you use Fed measures
of M1 + M2, the money supply is just $7.7 trillion.
HOW can there be too much money in the system??? There is TOO MUCH DEBT --- NOT
too much money!
As the ending segment of The Money Masters details, this fact has justified the
plunder of other people's resources all through the ages, and is the reason
countries around the world are now disintegrating.
It's well past time we stopped this travesty. PLEASE join this crusade, and
contact your Congress critters now and often on this subject.
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