On November 11th on “It’s Our Money,” Ellen spoke with Bill Still on how to pay off the national debt; and Walt spoke with Dr. Margaret Flowers on ominous developments involving the Trans-Pacific Partnership (TPP). Listen to the archive here.
The Still interview was prelude to an American Freedom Alliance event on November 17th at 7:30 pm at the Luxe Sunset Blvd Hotel in Los Angeles, at which Ellen and Bill will be addressing the topical question —
“Can the National Debt Be Paid Down and If So, Who Will Pay It?”
Public invited. Details here.
Also now in the PRN archives is the enlightening October 28th interview of UK Prof. Thomas Marois on public banking developments around the world. Listen here.
Filed under: Audio, Ellen Brown Articles/Commentary | Tagged: federal debt, public banking, TPP |
WEB OF DEBT BLOG 
complex problem…perhaps not the platinum coin, etc. I would adjudicate each case of fed printing for validity as to honoring the work ethic and valid investments, especially in infrastructure; the same as would happen with no-debt money generated by government to be fair to all. The most abusive forms of money generation would not only be declared null and void and unconvertible to new currency, but the perpetrators of such acts would be tried and convicted under law like Iceland did, via at least art. 1, sec. 8., par. 6.
thx Ellen!
From: WEB OF DEBT BLOG To: archives2001@yahoo.com Sent: Saturday, November 14, 2015 8:23 AM Subject: [New post] “Can the Debt Be Paid?” — Bill Still and Ellen Brown in Los Angeles Nov 17; Bill Still, Margaret Flowers, and Thomas Marois on “It’s Our Money.” #yiv1087892606 a:hover {color:red;}#yiv1087892606 a {text-decoration:none;color:#0088cc;}#yiv1087892606 a.yiv1087892606primaryactionlink:link, #yiv1087892606 a.yiv1087892606primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv1087892606 a.yiv1087892606primaryactionlink:hover, #yiv1087892606 a.yiv1087892606primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv1087892606 WordPress.com | Ellen Brown posted: “On November 11th on “It’s Our Money,” Ellen spoke with Bill Still on how to pay off the national debt; and Walt spoke with Dr. Margaret Flowers on ominous developments involving the Trans-Pacific Partnership (TPP). Listen to the archive here.The Still” | |
Simple contract and criminal law proves there is NO national debt to pay off. There are only RICO criminals to prosecute.
Reblogged this on TwistedPolitix.
“Debt”-based money is a legacy of the bankers who designed the Fed. Not every nation creates “debt” as it creates currency (as we do now, in effect, through our central bank).
In fact, the U.S. created currency without “debt” during the Civil War. Lincoln issued greenbacks without “debt.”
When he withdrew the greenbacks from circulation, it deprived the economy of currency, and the South, which had just lost its own currency (Confederate dollars), the flower of its youth, all its banks, and one of its biggest assets (slaves) was impoverished as a result.
This had the effect of turning the South into a giant pawnshop, said one historian. It was the origin of a struggle of farmers to get control of credit…a struggle they lost to J.P. Morgan, leading to the Guilded Age, during which the plutocrats extracted all economic surplus, and crushed the South *again*….
See Goodwyn’s “The Populist Moment” for this story.
We could pay off the national “debt” next week with a few trillion-dollar coins. This would not cause inflation, either.
Inflation might occur if government and the private sector got into a bidding war, since government has unlimited dollars at its disposal. In other words, government would have to spend the money chasing limited goods and services.
But retiring liabilities doesn’t spend the money. When you get a mortgage, the spending occurs at the initiation of the debt. It’s the same for national “debt.” So no spending occurs when liabilities are retired, and no inflationary effect occurs.
History bears this out. The Cato Institute recently published a study of 56 hyperinflations throughout human history. How many were initiated by government “over-spending” or central banks run amok?
Zero.
The typical scenario involves a shortage of goods and/or a balance of payments problem. The Rhodesian farmers left, and a country that had previously fed itself had to import food. A food shortage / balance of payments problem caused Zimbabwe’s hyperinflation.
Weimar Germany already had a balance of payments problem having to pay reparations for WWI, but the French took over the Ruhr–one of the most productive areas in Germany–and the goods shortage led to the Weimar inflation.
Money is not a commodity; it’s a social construct, like the score in a ball game. We’re not running out. We never can.
I believe Bill Still is on the right track with his suggestion of QE for Main Street, or helicopter money. This money could be created by government fiat and issued to the public to pay down private debt to banks first. Others without debt could do as they wish with the same money; spend,invest or save. This would help alleve this worst of debt saturations. The same could be done with goverment debts and would in Still’s words “be a national blessing”. This is much akin to Steve Keen’s proscription of a debt jubilee. Great discussion which I enjoyed very much.
Just say NO to helicopter, inflationary money ! Currency must be backed by something for surrender value, and at present “we, the people” are unfortunately the “backing” of our currency through our labor and taxes…the worst and most abusive form of backing, when it would be much better to back it with what we all value….items of prosperity…which might include gold, etc. as available, from a list IMO.
EB (WoB)
What is the National Debt??? What is 1% of Zero? What is 100% of Zero? That’s right, Nothing!, because that’s exactly what Federal Reserve Notes are, Nothing!. There is no substance, they are simply instruments or more correctly symbols of debt pulled out of thin air. The Fed uses these debt symbols to pay for everything it steals (under the guise of buying), such as the bonds backed by substance which it “buys” from the U.S. government (i.e., the good and trusted credit of the people of the united States), or for the FDR gold hoard stored at Ft. Knox that that traitor Roosevelt and his elite banking cartel bosses stole from the American people, and moreover in all likelihood the title to all that gold through secret purchases of it using those same zero value Federal Reserve Notes.The silver was even easier to steal, simply by taking it out of circulation through their Federal Reserve banks and replacing it with debased tin plated copper and copper plated aluminum coinage.
Oh! by the way, it (Federal Reserve currency) is not our money, its theirs. It belongs to the Federal Reserve – And it says so on each bill, regardless of denomination: they say “FEDERAL RESERVE NOTE”.
It is clear that most fundamental and vile criminal acts have been and are perpetrated here against the American people, and that the criminals in both sectors, public and private, need to be called into question and prosecuted to the maximum extent of penalties under the natural or common law. But here’s where there is the real question, “How do you prosecute governments which have denigrated into corrupt criminal organizations, or those who have caused those governments and their agents to be so denigrated into such corruption by the very instrument of that corruption – the fraudulent or counterfeit money created thereby? The government controls the grand juries who have the power to inquire and institute prosecution, and the President controls the military who are bound by a Constitution that requires they follow the orders of whatever traitor or pretender that sits in that office.
If you want to get real serious about the money in this country, then think about what I have just said.
IS
True, we have been duped about money since…Hamilton as you must know ? and seemingly few in government still understand debt-free, sovereign money as Ben printed for the colonies that was the true reason for Britain declaring war on the colonies. Abe picked up on the idea to save the nation, instead of borrowing…the major mistake always made by whole countries for war making as the bankers know well how to perpetrate to their own gains. Abe’s effort ended in the usual way like the Kennedy’s, Garfield, etc. and even old Hickory didn’t understand debt-free, sovereign money as he paid off the so-called (counterfeit) national debt !…BUT, we must be careful IMO and adjudicate each case of fed printing for honoring the work ethic and our great documents so as to preserve those “investments” that are valid and totally disallow for conversion to new currency all of the especially “QE” type printings and go from there….which would start a war of course….but what are we in the midst of now ?
[…] Source: WEB OF DEBT BLOG On November 11th on “It’s Our Money,” Ellen spoke with Bill Still on how to pay off the national debt; and Walt spoke with Dr. Margaret Flowers on ominous developments involving the Trans-Pacific Partnership (TPP). Listen to the archive here. The Still interview was prelude to an American Freedom AllianceRead more… […]