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“Whom do you Trust?”

December 23, 2013
“Whom do you trust?”
“… if it (money) is to fulfil its proper role
as the distributive mechanism of society. To allow
it to become a source of revenue to private issuers
is to create, first, a secret and illicit arm of the
government and, last, a rival power strong enough
ultimately to overthrow all other forms of
government.
….So elaborately has the real nature of
this ridiculous proceeding been surrounded with
confusion by some of the cleverest and most
skilful advocates the world has ever known, that
it still is something of a mystery to ordinary
people, who hold their heads and confess they
are “unable to understand finance “. It is not
intended that they should.”
As Frederick Soddy stated in “The Role of Money” (complete free book download- http://archive.org/details/roleofmoney032861mbp )
Perhaps,
maybe it may be discovered that where we went wrong was when we allowed Private For Profit Banks to legally ‘print’ our sovereign currency and allowed the PFPB to tax that issuance using one of the most powerful forces in the universe COMPOUND INTEREST. We allowed this to happen because of FEAR; fear that such awesome power should not be in the hands of elected politicians. We decide private for bankers were more trustworthy.
Perhaps,
maybe we should reconsider !
“Who would run it? The same bankers would weasel there way in to take it over and we would be in the same situation.” NO.
Not if we were to amend the Fed to make it an independent bank responsible to the people. All of what we know as today as banks will be deemed what they are; Private for profit banks and shall be as Keynes, Minsky, Soddy and thousands of others called for, “Separated from government”.
Use their own money for their own customers to do what they are supposed to do; maximize profits.
Excerpt from “Justaluckyfool”;
“*( Paraphrasing Frederick Soddy, “The Role Of Money”)
Actual quote,”Money now is the NOTHING you get for the SOMETHING before you can get ANYTHING”.
Money has an owner when it is in existence; someone must give up “SOMETHING” in order to get this “NOTHING”. The Sovereign Government does not own this ‘money ‘ (Nothing) it is merely the caretaker and enforcer of the redeemable rights of this sovereign nations fiat currency. If the sovereignty is a capitalistic society, all the fiat currency that it issues is by law and “good faith” redeemable into ANYTHING. The actual Wealth of the Nation is transferable into sovereign currency; stored by the government and accountable to the social group.
The entire social group owns the entirety of wealth of the nation, either expressed in its physical form (goods and services not yet produced) as well as that which has already been made fiat currency.
Every nation that has its own fiat currency, needs a banking system-a central bank that is accountable for the issuance and control of the quality and quantity of its currency.
4. The owner of the goods and services of the Sovereign Group that is a capitalistic society is the combined individuals of the society. Each one owns that portion of wealth now and until death or until they decide to GIVE those rights of exchange to anyone else.
5. A Monetary Sovereignty that is a capitalistic society is only a caretaker of the wealth of the entirety and as such should have a Central Bank that will be the accountable guardian of the Sovereign wealth.
6. As guardian, the Central Bank does not own the currency. They must control the quality and quantity for its owners-the people and must be able to redeem the NOTHING they issue for ANYTHING upon demand. The Central Bank MUST be the ONLY entity that may issue
new currency.
Read more:
Where we went wrong and how to fix it.
FREE, yes no money required. Download this book :
“The Role of Money” by Frederick Soddy (written in 1926, 1931)
http://archive.org/details/roleofmoney032861mbp
Then read this FOOLS interpretation again.
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