Fiat money

Can Governments Save The Economy by Injecting Money Into Our Bank Accounts?

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Phillip J. Watt – There is increasing dissatisfaction across the globe with the incompetency, corruption and malpractice of the interdependent finance sector, especially after the Global Financial Crisis in 2008 that crippled national economies all over the world and sent millions of people into unemployment. Thousands also lost their homes, as well as huge portions of their superannuation, whilst the commercial banking sector was bailed out of the mess that they created with trillions of dollars of Quantitative Easing (QE) central bank cash injections.

societyInvoking more anger is that this approach hasn’t even solved the problem; it has only prolonged and amplified it. There have been no real legislative, structural or policy changes, so we are now faced with even greater threats by massive global bubbles in derivatives, real estate and assets, such as stocks. It looks like there is even the potential to have a greater reset then the great depression of 1929.

While governments and corporations remain focused on failing models of perpetual economic growth, millions of people across the world are on food stamps, dependent on government subsidies to stay above the poverty line. Income disparity has never been so vast. Profits for corporations, particularly the multinationals, are near all-time highs, whilst wages have remained stagnant. High unemployment is epedimic and is much more severe than what official figures represent. Continue reading →

The Top 1/10th Of 1% Loves A Guaranteed Minimum Income: With One Caveat

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“Why wouldn’t the top 1/10th of 1% love a central bank-funded guaranteed minimum income?” – C H Smith

CharlesHughSmithIt is widely assumed that the super-wealthy top 1/10th of 1% are against a guaranteed minimum income (GMI) (also known as guaranteed basic income or basic income guarantee) because this would somehow limit their wealth and power.

On the contrary–the top 1/10th of 1% are fine with a guaranteed minimum income for households, with one tiny caveat: as long as they don’t have to pay for it. But wait, you say: that’s the entire idea: tax the rich and redistribute the money to those below.

Ah, but you’re forgetting the magical power of central banks and treasuries of the world to create money out of thin air. As the top 1/10th of 1% understand, the GMI could be paid with freshly issued money–a method of funding that leaves the top 1/10th of 1% untouched beyond the taxes they already pay (substantial in many cases).

But wait, you say: printing and distributing helicopter money is highly inflationary. (Helicopter money refers to former Fed chairman Ben Bernanke’s famous claim that deflation could be reversed by dropping money from helicopters.)

Not only is printing money inflationary, it soon burdens the nation with crushing debts. So goes the conventional line of thinking: printing money is inflationary and borrowing money by selling bonds leads to crushing interest payments on the ever-rising debt.

But what if the conventional thinking is wrong? Consider the following thought experiment: Continue reading →

Kiting The American Financial System

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“Can this engineered Financial Destruction of the USA be stopped or is it too late? Many believe it is too late. But others believe just the opposite and are convinced that if We The People rise up, withdraw consent from these Constitutional USG practices and demand Constitutional, legal real Money (Currency backed by precious metal and real commodities) we can turn this around. But to do this we must expose and eliminate the root causes which is the fact that our monetary Production and Distribution System has been hijacked by foreign Banksters, the Rothschild World Zionists operating out of the City of London Financial District.” – P James

LittlePeoplePlayWithPawnsIt should now be more than obvious to most folks that the current spending levels of the US Congress are completely unsustainable over time, but false narratives dispensed by the Controlled Major Mass Media (CMMM) are preventing this.

In fact any reasonable analysis would conclude that the American Economic System is being “Kited” by an out of control US Congress with an elastic, unlimited checkbook.

And of course the USG’s Secret “Plunge Protection Team” uses advanced software to buy up huge quantities of US stocks in large batches at the speed of light to kite the stock market up to unsustainable highs.

And ask any Police Bunco Detective about “Check Kiting”. Isn’t this the same thing that the USG is doing with its partner in Financial Crime, the Federal Reserve System which provides it with a limitless elastic checkbook by which money can be endlessly created from nothing with no backing?

The result of this Congressional overspending from their Federal Reserve Provided Elastic Checkbook is two fold: first, it keeps money and jobs for many that would not otherwise have them, especially Government bureaucrats in a bloated, out of control Federal Government; but second, it is a very crafty covert tool to quietly steal the fruits of the labor of many American Middle Class folks as well as a great deal of their accrued wealth.

RICO Crime beyond what most can imagine.

In reality this is a most sinister system which steal hard earned wealth from We The People, and is actually a massive financial fraud with absolutely no Congressional oversight at all. In fact the Federal Reserve System has never been audited, despite recent efforts to pass such a law in Congress which failed. Continue reading →

Fiat Money: ‘A Large-Scale Fraud System’

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The Center for Financial Studies in Frankfurt reports on a recent talk given by Thorsten Polleit:  

Thorsten Polleit on the “planned chaos” of money

cartoon_moneyprintingWhat are the reasons for economic booms and busts and which reforms are necessary to create an economically viable monetary order? On 2 April, Thorsten Polleit addressed these questions in his lecture “Boom & Bust, or: Planned Chaos” referring to the Austrian school of economics. Polleit is Chief Economist of Degussa Goldhandel, President of the Ludwig von Mises Institut Deutschland and Honorary Professor at the Frankfurt School of Finance & Management.

Polleit identified the state-controlled fiat money system as a main cause of the international financial and economic crisis. This system, he said, is based on the ability of banks to create money literally out of nothing. It is, in principle, a “large-scale fraud system” because today’s money is “intrinsically worthless and not redeemable”. This has damaging consequences for the overall economic development.

Circulation credit reason for economic fluctuations

Continue reading →