Politician Spock
Footballguy
For the same reason that Coke and Pepsi are the primary soft drinks sold around the world just like they are here in the states. They are in the business of manufacturing soft drinks, and their market is not just the United States. It's the entire world. Likewise banks are in the business of manufacturing money, and their market is not just the United States. It's the entire world. The banking industry is a cartel. Before you respond with the
, I'm referring to the Bank of International Settlements (BIS). http://en.wikipedia.org/wiki/Bank_for_International_Settlements All banks that utlilize a central bank that are a member of the BIS must comply to BIS policy. Just as you can get "Mexican Coke" in Mexico which uses different ingredients than Coke made here in the United States, both are manufactured complying to Coca-Cola's policy. Likewise, money manufactured by the central bank in China uses different ingredients than money manufactured by the Federal Reserve, but both comply to BIS policy.Well, as PT Barnum supposedly said, "There's one born every minute". We've been sold this money manufacturing service, just like we've been sold Coke and Pepsi goods and services. If it's possible that people have been stupid for buying Coke and Pepsi's services for their lifetimes and will suffer the health consequences of having done it, then it's just as possible that we've been stupid for buying the BIS cartel's money services for our lifetimes and will suffer the financial consequences of having done it.
And Coke and Pepsi have proven to be the best choices in what people want from a soft drink. They want to be refreshed. They want to enjoy the taste, etc, etc.... They meet those desires better than the other alternatives. But as we are now learning, they have serious negative health consequences. We weren't told about that by those companies. We had to discover it the hard way.Likewise, currency generated via interest bearing debt has proven to be the best choice in what people want from a currency. It expands to the market, and allows for capital growth, etc, etc... They meet those desires better than the other alternatives. But as we are now learning, they have serious negative financial consequences. We weren't told about that by the BIS. We had to discover it the hard way.
There are a lot of alternatives, and discussing them wouldn't just requires a new thread, but a lot of new threads. But yes, banks would no longer generate loans, expcept by loaning out money the bank owns. And it would be a 1 to 1 loan of those dollars they own. The banks could loan out other people's money, but it would essentially be a brokering service, like peer to peer lending services such as Prosper are. Your deposit in the bank would not be readily available for withdrawal, because it would be loaned out. You and the bank are then sharing the interest being generated on the pool of loans you approved for your deposit. The creation of money would as such need to come from somewhere other than banks. Throughout history those sources have been from nature and from government. The BIS has worked hard over the centuries to eliminate those other sources of money, as they are competition to their method of currency manufacturing. If you look at the list of members of the BIS on the link above, you'll see that many of the countries experienced life altering wars before they joined the BIS and began a central bank complying to the BIS. You also notice countries such as Afghanistan, Iraq, Iran, Syria, Lybia, Sudan, Egypt, North Korea, Cuba, Venezuela, etc, etc... are not BIS members, yet also happen to be where the vast majority of war and international polictical friction exists in the world. But in know way am I insinuating a conspiracy is behind that.
As I said before there are a lot of options, which could produce a ton of new thread discussiing them, so I'm hesitant to suggest an alternative. But I believe Thomas Edison should have enough credibility on inteligence to deserve a shout out of his idea regarding where money should come from instead of the banks. http://prosperityuk.com/2000/09/thomas-edison-on-government-created-debt-free-money/
What he is suggesting is exactly what President Lincoln did during his presidency. Instead of having his US Treasury print interest bearing bonds out of thin air and exchanging them with banks for dollar notes that they print out of thin air, he instead had his US Treasruy print dollar notes out of thin air and spent them on his army to fight the civil war. He pretty much had to, because the banks wanted well over 25% interest on their bond swap method, and Lincoln thought that was ridiculous (and rightfully so). Lincoln generated $450 million of those US Treasury issued debt free/interest free dollars, and they worked just like Thomas Edison says the system should work.
In the BIS policy, any time a country wishes to add to the national wealth they are compelled to add to the national debt. This generates profit for the international banking cartel. However, if the government is allowed to get into the business of manufacturing money, the banks not only get no business, they then have competition for the demand for their money creation services.
If the US government were able to compete with the internation banking cartel in the manufacturing of money, then it's quite possible that we could continue to let the banks fractionally reserve lend it out. Because that process would have compeition from the government for the demand for dollars. It would be an even more competitive market if nature were once again allowed to be in the manufacturing of money (gold and silver). If people could get money manufactured from multiple sources, it would be a true captilistic system with real market competition for money creation services. Today we don't have that at all. It is a monopoly. It is a cartel. Even our own government is subject to it and suffers from it.
Having said all that, it would seem so simple that congress just give the executive branch the power to create money again (it took it away after Lincoln exercised that power because the banks lobied congress to get the government out of the money creation business). But I honestly believe that it would result in World War 3. While the BIS and the US Federal government are healthily seperated from each other to some degree, the BIS is deeply ingrained in the government operations of other countries. And if we began to compete with the BIS cartel, war with quite a few other countries would soon follow.
You really think the rich are going to let this happen? Tax cuts will continue and the debt ceiling will be raised.
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Please, please let us know when you start buying, and don't get banned again before that happens.
+ 518 points
