Posts Tagged 'debt'

Still wrong

Bill Still. A name that deserves it’s own complete sentence. What can I say about Bill. A true legend in educating people about the history and nature of money.

Bill’s got some intersting ideas, which seem so simple, yet so powerful, with regards to significantly reducing the problems that stem from the current financial system.

The main problem that Bill focus’s on, is that of (so called) sovereign governments borrowing money from private bankers. Bill argues that if this situation ended, then a great destructive force would stop wrecking national economies and most importantly the suffering of the man on the street, would diminish.

By borrowing money from private banks (or the bank of the private bankers, like the US federal reserve), interest becomes payable upon it. While the USA was able to plunder resources of other countries, it was able to use those resources to offset (some in excess) the cost of borrowing money. But it’s become harder and much more expensive to wage those wars of theft. Hence the problem of borrowed money has (“sacred”)spiralled out of control. (All to plan of course).

Anyway, the problem with Bill is that his proposals are only a half-way house. Sorry, that’s unkind, let me re-quantify. Bill proposals are perhaps a “90% way house” in his favour, but Bills proposals will also ultimately cause problems.

Why? Because bill is an advocate of creating money, by creating/printing/minting debt free notes and coins (from materials that do not reflect the actual value of what they are constructed from). Although Bill has correctly identified a principle element of usury – the borrowing of money against which the amount due for repayment is greater (in monetary terms) than the principle (initial) amount borrowed. Bills call to creating money is simply a second dimension of the same usurious beast, even though it would result in lesser severity and have the associated problems occur over a longer time span.

The best form of money has as it’s prime property that of intrinsic (inherent/fundamental/inescapable/within itself) value*. If I am to sell an object, say a sheep, I want an object or token of payment that actually reflects the value of the sheep. e.g. a gold coin. What if that gold coin could be bought for $253. Which would I be happier to receive? – the gold coin or $253? I’d much prefer the gold coin. Why? Because the gold has intrinsic value but the value of the note is nominal i.e. the note has a purely fictional value given to it. and not a real value at all. By accepting the note, I’d be selling my sheep for a temporary illusion of value.

Yes, there’s a part of the value/cost of gold that is nominal, but the nominal amount is nowhere near as significant as for the note. The intrinsic value makes it have ‘value durability’. No matter that nominal fluctuation imposes itself upon the gold, the intrinsic value remains. This is not the case for nominal fiar currency. The value of the nominal value paper note is demonstrably unstable and subject to devaluation via inflation. As mentioned, Bill Still says that currency devaluation is largely because government borrow their money, But even if a government did print it’s own money, it would be creating money out of nothing i.e. ‘making money’ (which is almost exactly the same as the outcome of lending money on interest!) and then it would have a nominal value imposed upon it, subject to the political needs of the government. So Bill’s idea is in fact just a mini-me version of the current reality. Creating money is in itself inflationary robbing those who earn from the trade of their goods and services of the results and rewards of that trade. Robbing everyone of degrees of hard earned financial security; A scandalous rip-off.

And before you write in mentioning hyper inflation in Hapsburg Spain, realise that situation was much different from what would be the case today. It’s actually poetic justice that the gain of gold based on exploitation plunder and tyranny was self-destructive. In an ideal world where fair and honest trading takes place, I simply cannot believe large amounts of gold would a) be able to accumulate in such amounts b) that there would be no healthy economic ‘sink’ for that gold to be spent. In today’s world, there are many potential costly sinks today e.g. helping the 1 in 7 on the planet that do hungry each day, cleaning up pollution, providing decent housing / regeneration and health care, construction of mega projects such as PV arrays, irrigation or arid lands, research into sustainable energy etc etc etc. None of which were available in Hapsburg Imperialist Spain.

So Bill, you are still wrong. Gold is the ultimate in currency. Your solution, although it would reduce the severity of what we see today in global finance, would still cause more problems than is the case for the use of Gold and silver.

Bill has said why would you want a currency whose quantity is restrictive – I believe I have answered his query above. Bill (and others) also argue that it’s not the token that’s important, but who controls it. Again, I think I’ve scotched that ‘concern’ above.

I am NOT saying that the common man will be utterly free of the evil manipulation of money if gold and silver were to the principle form of money. What i am saying is there is no system that is better than the use of sliver and gold. The maximum number of people would benefit and the least amount of people would suffer.

If we all used gold and silver there would be little currency speculation, bolstering G&S’s retention of value even more.

* It has intrinsic properties because of its physical properties of being rare, soft and inert/indestructible, all of which make it perhaps the most desired material for jewellery/ornamentation/beautification as well as being physically useful.

P.S. Max Keiser is also wrong, for a similar reason. He advocates using interest as a financial control. Ellen Brown is also wrong. She advocates borrowing more money to spend her way out of some of the current economic troubles in the US (and wider) economy. Inflation causes a diseased economy. I posit the way to kill any Hapsburgian type problems would simply be to give a fair chink of gold and silver to the poor (perhaps from mass employment – putting the gold aside only to cater for payment of the labour of the poor). I suggest at a stroke that such a thing would have nullified any such negative Hapsburgian pressures.

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Apocalypse soon. Has the pretence that ‘debt isn’t out of control’ finally vanished?

http://iraqwar.mirror-world.ru/article/217832 reproduces an ICH published report. Here’s a quick extract: ZeroHedge: — For Greece, with on and off balance sheet liabilities at over 800%, it’s game over. For the Eurozone, with the same ratio at about 500%, it is also game over. For the US, at 500%+, it is, you guessed it (sorry Joseph Stiglitz), game over.

Here’s more news: Germans say euro zone may have to expel Greece

And more news: Spain’s deficit has soared to 11.4 percent of its gross domestic product amid its deepest recession in decades, but the government has pledged to cut the gap back to a eurozone limit of 3 percent by 2013 by cutting 50 billion euros in spending… unemployment running at 20 percent. Underscoring those doubts, the premium demanded by investors for buying Spanish rather than German government bonds ES10YT=RR has risen in recent weeks and the cost of insuring Spanish bonds against default by the government has also risen

If I read that right (and I’m not an economist), people are shorting Spain and taking credit defalut swaps on the Spanish government.

And more: Greece: “From 1. Jan. 2011, every transaction above 1,500 euros between natural persons and businesses, or between businesses, will not be considered legal if it is done in cash. Transactions will have to be done through debit or credit cards”

Europe and the Euro is going belly up, The UK public purse is in a dire situation (the killers in the Downing Street cabinet should have nationalised Barclays, not Northern Rock) and Goldman Sachs has already done spectacularly well with nearly God knows how many hundreds of Billions granted to it by the US govt to leverage and make new scam packages like it’s never scammed before, oh, and line the pockets of the already filthy rich. Iceland doesn’t want to pay the UK and the dreadful charities who invested in oppressive fraudulent Icelandic ‘financial instrument’ houses. Ireland is up the swanny, Italy? well it’s the gangster economy that it always was, Singapore, seems to be going down (and will take Indonesia Thailand and Malaysia with it)

And the supposed Alt A and Option ARM crisis hasn’t fully crashed in yet.

http://www.youtube.com/watch?v=KhEsqLcWHyA

Worried? I can understand so.

Surprised? You should be. E-MONEY is the game (see above Greece’s bizarre announcement that Reuters reported).

I’m wholly unapologetic for believing this is the plan. E-money has been on the cards for a while. Whose cards you might ask? Quiz the supremacists (if they are willing to speak to you – being an animal to serve their purposes that is) Those supremacists who firmly believe they, and they alone, hold an unconditional covenant handcuffing God are getting their way. What’s happening is in ALL serious philosophies. The end times are rolling on up. To these rather nasty people it doesn’t matter because remember, it was their Rabbi who defeated God in an debate. It’s them, not God who are calling the shots. They might throw God some manna occasionally and might allow God to run in the yard for 30 minutes each day in-between water-boarding, kicking grit in his ‘eyes’, putting him in stress positions and shouting at God that He’s an anti-Semite for destroying Zion after they altered Deuteronomy so that they can lend on interest. God, Islam tell us, declares WAR against whose who engage in usury.

As for the God fearing Jews: brothers, (or perhaps more accurately: cousins) we’re going down! All of us. Why is it this likely new purge of good Jews a is being predicted (e.g. Alan Hart and others) has continuously come as a result of those who perverted your faith. At least we can have some weird sense of justice when they realise ‘God in cuffs’ was simply an illusion they were allowed to see.

Oh Boy.

 


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