Les Leopold on “It’s Our Money”

les leopoldYou’ve Been Strip Mined! That’s how Ellen’s guest Les Leopold describes what has happened to the constructive role of capital, such as investment in research and development, expansion and improvement of services and industries. He calls it “economic strip-mining” in which capital speculators like hedge funds strip the equity of companies, countries and consumers to feed their insatiable desire for short term profits – outcomes be damned. We also introduce the new national project and campaign called “What Wall Street Costs America” – the start of a national conversation revealing the massive extraction of public dollars by Wall Street interests. And Matt Stannard reviews presidential politics and bank reform on the Public Banking Report. Archived here.

Next up: Prof. John McMurtry on the Trump phenomenon and the Cancer Stage of Capitalism.

18 Responses

  1. Dr. Anthony Horvath, author of CAPITALlessISM. published recently
    PLEASE!!! please!!! lets stop just lamenting about our present economic system and lets come up with solutions…. tentatively OVERALL SOLUTIONS not only partial solutions. As a wobbling chair has four legs, it is futile to fix only one. Our economy requires global solutions :
    (1) institute a public banking structure under a democratic government’s coordination (2) create a network of public-private banks, cooperating with the national development goal, under the umbrella of this public bank (3) declare national ownership over the capital creation process /called ”fractional reserve banking” / which is presently under the unilateral control of private banks, for the last 300 years, and which allows them to create over 100 new dollars for every dollar in their reserve/ (4) licence back to cooperating private banks the usage of this new national capital creation process, and share the created new capital with the nation, in the spirit of a true public private partnership. Thus allowing financing massively social & development programs while still cutting drastically all our income taxes. (5) examination of the nature of our national debts and recalculation of its the true size. Then based on this, recalculate retroactively the true amount of interest owned by the nation. (6) these measures will allow financing Roosevelt’s solutions, as his envisioned second bill of rights which calls for democratic capital access to all and sustain basic survival needs for all /jobs, shelter, education, heath care, decent old age security etc./
    Please read more about our solutions http://www.capitallessism.com…. I would appreciate your comments. thank you

  2. These solutions would indeed work for us, the people, and could be accomplished. However, one point is missing: 0) establish a government that is willing to implement these solutions. This is what would have to be fulfilled first.

    • The point is that we don’t need the government to implement any of this. Nothing sounds illegal. Of course they’ll try to destroy those efforts since they are against ‘our interests’.

  3. If it were our money, we wouldn’t be paying interest to use it! The Fed is a private banking system that has been given the right to loan money to the US government at interest. It’s their money, not ours…

    • True, we just need to get out of the system like moving to gold and silver.

      • We need to take back the right to coin and print our money as specified in the US Constitution. If we had been doing that all along, there would be no national debt.

        • The fed needs to go away along with this fraudulent debt.

  4. WILE ALL THESE COMMENTS ARE GREAT AND ELLEN AND MR.LEOPOLD HAVE IMPORTANT THINGS TO SAY.NOTHING GOING TO CHANGE FOR A MULTITUDE OF REASON.1;YOU HAVE TO LOOK AT THE GRAND PLAN/CHESS BOARD.THE DESTRUCTION OF THE AMERICAN MIDDLE CLASS .THE ELEVATION OF THE WEALTHY THROUGH WEALTH TRANSFER AS MR.LEOPOLD DESCRIED.2;THE MILITARIZATION OF THE POLICE AND PROPAGANDA PROMOTING THE MILITARY AS HEROS DURING SPORTING EVENTS ETC3;THE CORRUPTION IN OUR POLITICAL SYSTEM IS IRREVERSIBLE ,AND ANY ONE FOOLISH ENOUGH TO THINK THAT ANY GRASS ROOTS MOVEMENT WILL GET TRACTION IS KIDDING THEM SELVES.JUST LOOK TO HOW THE MEDIA HAS DEMONIZES SEN SANDERS BY CALLING HIM A COMMUNIST/SOCIALIST.AND IN THE WEAK MINDS OF AMERICANS, SOCIALISM IS THE SAME AS SOVIET COMMUNISM.THERE IN LIES THE REAL PROBLEM””THE AMERICAN PUBLIC”‘WILE THERE ARE SOME WHO GET IT ,MOST ARE LAZY UNCARING UNEDUCATED{{MEANING WHAT IS REALLY HAPPENING NOT THEIR ACTUAL EDUCATION}}.DEVICE ADDICTED SPORTS/ENTERTAINMENT/MOVIES/TV/ETC.ALL PART OF THE DUMBING DOWN OF SOCIETY.AND UNTIL THAT IS ADDRESSED YOU CAN SAY/TRY AND FORM THESE GRASS ROOTS ORG.AND IT WILL NOT HAPPEN.THE WALL STREET [[SO-CALLED]] BANKING WARMONGERING NEO-CONS AND SO-CALLED HEDGE FUND OPERATORS ARE THE RULERS OF THIS NATION.JUST TO MAKE THAT POINT .MORE PEOPLE THINK OF AND ARE ENROLLING IN COLLEGES IN WALL STREET COARSE S THAN ARE ENGINEERS ETC, THE ENTIRE SOCIETY IS THE REAL PROBLEM AND UNFORTUNATELY MR LEOPOLDS IDEA OF 30,000 EDUCATORS IS JUST NOT GOING TO CUT IT.

    • Please stop shouting!

  5. Reblogged this on Dreams of Liberty and commented:
    Its up to usthe people.

  6. Research and development was taken out of the private sector and given to the military to manage – for example cold fusion which was proven. I understand that we now have cold fusion, hot fusion and everything between. This was confirmed as the next generation of submarines will be fusio, Rissia is announcing fusion, and so is China. A relative of mine in No. Carolina says he has been offered a billion $s for his investment in fusion. But we are on the petro-dollar which would be worthless without petroleum. Saudi Arabia is spending $2 trillion on “post petroleum” technology and we have wasted all our money on arms and war which has been highly counterproductive. This is a big deal, actually.

  7. Dr. Brown, I commented on this article saying our government is delaying fusion technology because of the petro-dollar. This is actually a very big deal. I could writing further on this subject if you are interested. Thanks, Jim G

    Sent from my iPhone

    >

  8. Going cashless is about accountability. Cash is the friend of terrorists, criminals, tax evaders, black marketers, human traffickers, drug and gun runners.

    Law abiding citizens are virtually cashless now, paying with checks, credit cards, online, …

    • I disagree. Cash is about privacy, freedom, and not being controlled by corporations. I am law-abiding and believe in cash. It’s not the banks’ or government’s proper role to keep tabs on everything I buy or sell. I think you’re much too trusting of banks and government if you think it is. Total corporate and government control of money is totalitarian.

      • I fully understand the concern about privacy and about potential abuse of information. However I am willing to take that risk to reduce human trafficking, to reduce crime, to reduce tax evasion, drug running .. and terrorism.

        We accept seatbelts, vaccines, airport security, … as a tradeoff for other goals.

        We accept the regulation of prescription drugs, restaurants, health care workers, and so many other elements of our lives to ensure the integrity of those regulated activities.

        • I disagree completely with your comparisons and tenet.

    • I am a law-abiding US citizen, but, as I see it, once cash (and all other forms of independence) are gone, we will be living in a totally totalitarian state.

      • I fully understand the concern about privacy and about potential abuse of information. However I am willing to take that risk to reduce human trafficking, to reduce crime, to reduce tax evasion, drug running .. and terrorism.

        We accept seatbelts, vaccines, airport security, … as a tradeoff for other goals.

        We accept the regulation of prescription drugs, restaurants, health care workers, and so many other elements of our lives to ensure the integrity of those regulated activities.

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