30 Responses

  1. In reply to her question “What is a financial crisis?” Jamie Dimon told his daughter it’s just something we have to have every 5 to 7 years.
    We should have had another one already, but central banks have flooded the world with oceans of cheap money to make damn sure that we don’t, because the next one, thanks to the Quadrillion plus dollars of derivatives out there will finally do it: Armageddon. Blow the world to hell. No coming back.
    Let us not forget that the Fed was formed to promote and serve banks (See The Creature from Jekyll Island by G Edward Griffin).
    The sin in all this is that no-one wants to face up to it, wrap their minds around it, because it is a fate too horrible to contemplate.

  2. Peter …. How do you know for an absolute fact that the FED was formed to serve banks and not the whole economy ? Might it be that you only think of a dollar as being a debt-based currency and nothing more ? It’s actually a servant to gold, but few realize this.

    • Lise, if you want any further proof that the FED was formed to serve the Banks, look no further than the crisis after 2008. The money “printed” under the banner of QE has gone only to the American and European Banks that OWN the FED. Hundreds of American regional Banks have been allowed to go Bust, because they received not 1 cent in QE funds.
      And the American people who lost their equity in their homes after the residential property crash, have not received 1 cent either.
      The Banks that were behind the crash, are the only ones who have been compensated. It is the greatest theft in history, and the American people have been robbed blind.

      • Perhaps you don’t recognize a necessary evil when you see one ?
        What you stated is evidence , not proof. There’s a bigger picture going on here. Now that debt-free assets can be monetized, circulating debt-free assets would purge debt currency right out of circulation. That prospect of asset circulation had to gain some aspect of liquidity, however. FIXED values cannot work. The old asset standard of using a weight (gold or silver) at a fixed value created a demand for more and more weight as the demands for liquidity grew. That’s a dead end prospect since bullion weight is a limited and finite resource. Since the formula for asset liquidity in this case amounts to the product of (weight x trade value/unit weight), the only thing that was feasible was to allow the FIXED trading value of the monetary asset to rise. The problem was the FIXED peg on bullion weight , not the bullion. We witnessed FIXED bullion values (as money) during Bretton Woods and beforehand. The peg had to be severed to set the value of bullion free. The real prize development that the floating USD (depegging) brought about was the floating tool of USD/oz. That’s a transactional measuring tool. That’s a fact, not an opinion. This now allows debt-free assets to have real-time , scalable , demand driven liquidity, all in real-time. The USD is NOT a currency within this gold based monetary paradigm. It’s a transactional element , only, within the real-time “bridge”/ measurement tool of USD/oz.. We can now make settlement for debt with asset based , real-time value (weight) that now features fully scalable real-time liquidity.

        The problem , since, is/was that the debt genie escaped from the same bottle when the real-time genie was set free. The irony is that it’s only the real-time genie that has the ability to safely return the debt genie to its bottle to seal it up.

    • Read The Creature from Jeckyll Island by G Edward Griffin

  3. Does the Fed serve the Private For Profit Banks ?
    IF, the Fed served the people since 1913, it would have raised over $100 trillion revenue FOR THE PEOPLE.
    YES, by backing the PFPB by allowing them to ‘print’ our money and to TAX that money (calling it compound interest) that is the amount the PFPB have claimed as profit (they call it-“Interest Income”).
    Read more:http://bit.ly/MlQWNs

    • What I can suggest is that you stop looking at the dollar as money and discover its true function & value.

      • I suggest you’re out of touch with reality. I go buy groceries with dollars. They’re money.

        • That’s not all the dollar is, however. It represents much more than a currency. Its role as a currency is but a stop-gap measure in economic history. The process is still incomplete.

          • Please tell me , what is the role of money? Why are the PFPB allowed to issue it, that is actually allowed by law to create it out of thin air
            while at the same time TAX it so as to gain 100% to 200% of that issuance as “INCOME PROFIT”.
            How long would it take you to be a trillionaire if the Feds allowed you to lend out $500 billion of sovereign currency that you would be allowed to print, say for 4% for 18 years? Answer: You would receive $1 trillion back in payments for a profit of $500 billion, so do it again and gain $1 trillion. If you believe that it is not exchangeable for $1 trillion in goods and services; feel free to send that ‘money’ to me.

            • Justaluckyfool …. You’re asking a question that emulates from the debt-currency paradigm. My reference to the dollar being more than just a currency in its usage does NOT emulate from the debt-currency paradigm. The dollar only functions as a currency within the debt-currency paradigm. It has another vital use , however, but that other use is in the debt-free gold-as-money paradigm where PM’s are the settlement currency. The mission statement of the dollar is not ultimately to only act as a currency. It’s use as a currency is but a means to an end. You must understand that the floating dollar also acts as a component within the real-time measurement tool of USD/oz. This allows bullion with a floating value to have full scale , demand driven liquidity, something gold with a FIXED trade value does not have and could never have. I’m introducing a different function for the use of the dollar that has not likely been brought to your attention. The dollar is not just a currency. It’s a bridge of transition from debt-currency pricing to debt-free payment. You can now buy a peanut or a Ferrari using debt-free gold (or silver) and do so with instant global liquidity. ….. even if the product is priced in a fiat currency, any fiat currency. The floating value of USD/oz serves a purpose in establishing the correct weight of bullion by which to settle the purchase with. In that transaction, it’s a trade of a product for the ownership of debt-free money. The use of the dollar is not that of a currency in this instance but is now used in the “translation” from fiat currency pricing to payment/settlement weight.

              • Hmmph! Nations have a right to sovereign credit, so it is better look at gold as the has-been transitional thing. You seem to be overlooking this alternative to debt-to-private-bankers money. Read Web of Debt to understand.

                • You assume a great deal. Gold as a currency is already being used. It doesn’t change anything in the established system in so much as it adds to the solution. Capitalism is incomplete. Are you looking for a top-down solution ? There isn’t one. You cannot purge debt with more debt. The question you might want to ask yourself is should we be using debt, exclusively, as a currency ? Adding asset based liquidity to the existing system doesn’t change what countries or banking institution already do. It adds economic support (liquidity from the market) but because it’s debt-free, it allows existing debt currency to be freed up to find the hands that need that debt-currency so they can return it to its creator to have it destroyed. It goes back to “nothingness”. Too many people seem to forget about the economy when they do these thought provoking analytics. This is how assets in circulation purges debt that is already in circulation…… and does so without economic collapse. Think of debt-free currency as an added “supplement”. I read Web of Debt, also. Ellen is a top-down thinker in her philosophy, IMO. I find that a wee bit of an irony because in this video, she supports people protecting themselves with precious metals. http://www.youtube.com/watch?v=Vtv6RBo3Pzo

                • Nations have absolutely no right to sovereign credit. They have a privilege that can be agreed upon by contractual consent. That is not a right. That is only by agreement between two parties. To call that a right is misleading or very slick marketing, something that would not surprise me if it originally came from a national government or a central bank.

              • So you see, justaluckyfool, it’s all perfectly clear. Why can’t you understand?

        • Right on, Ernie…………………

  4. hi. i liked the interview you did that i heard broadcast on pacifica wbai this morning. i also liked your interview with greg hunter. i think the austrian school has made some valid criticisms of the fiat currency system but they rarely get an honest debate from someone who is closer to the neo-keynesian school (sorry for the stereotyping). i’m noticing that big govenrnment believers (left) are coming to the same conclusion about the cause of our financial problems as the small government libertarians (right). your ideas about public banks are spot on and should appeal to both ends of the spectrum.

  5. Total collapse and liqiuidation of the US corporation is the only logical solution … regardless of it being North Dakota or Coasta Rica,
    the system is trapped under the liability of dollars…
    M ZERO is being reduced to facilitate (force) the American sheeple
    into a 100% cashless currency.
    This woman and others who beleive we can continue our “comfotable
    ways” by making some adjustments, are delusional.
    There was, is, and will be , no effort to preserve our way of life.
    The 33 year formula to devistate theis nation is nearly complete.
    The ONLY hope for the American people was to prepare for thsi
    disaster in the midst of bubble eurphoia… instead , the sheeple
    chose “freedom intoxication” over common sense.

  6. Reblogged this on America:Losing the Empire and commented:
    It;s time to wake up and smell the stink! Listen closely to this presentation and then it is incumbent upon you to take appropriate action NOW! Like we wrote in The World is NOT Your Oyster, this government is NOT for the people, at least not WE the people…

    • Tetrahedron, thanks for the link. There’s nothing wrong with the USA that a complete cleanout of it’s rulers wouldn’t fix. The American people are being trampled, and treated with contempt by these clowns.

      • Easier to change the structure. If you leave it the same, the same power seeking psycho types will climb back in , in search of a power fix at the apex of power where its focused. The apex is like a light to moths when attracting power mongers. Besides, you’re not going to change human nature. We can change structure, however. Look , first, where you actually have power to make change.

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