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“How do you democratically have a “Capitalistic Economy For The Betterment Of The People” ?

April 18, 2016

“How do you democratically have a “Capitalistic Economy For The Betterment Of The People” ?

Quote Bernie Sanders, “We have got to break them up so that they do not pose a systemic risk and so that we have a vibrant economy with a competitive financial system.”

QUOTE, Clinton Vs. Sanders on Big Banks
http://therealnews.com/t2/index.php?option=com_content&task=view&id

“…You’r talking about a fundamental tension in our democracy. Between a representative democracy and a capitalist economy. Our market cares about profit. The government cares about people. And there is a built in tension between a representative democracy and a capitalist economy, which only cares about profit and really doesn’’t care about its effect on people.”
Quote Alan Greenspan,
“In testimony before Congress on October 23, 2008 Alan Greenspan said that he had overestimated the ability of free financial markets to self-correct and he had missed the possibility that deregulation could unleash a destructive force on the economy. Greenspan then added “I still do not fully understand why it happened, and obviously to the extent that I figure it happened and why, I shall change my views”.(Greenspan stated: “This crisis, however, has turned out to be much broader than anything I could have imagined…. In recent decades, a vast risk management and pricing system has evolved, combining the best insights of mathematicians and finance experts supported by major advances in computer and communications technology. A Nobel Prize was awarded for the discovery of the [free market] pricing model that underpins much of the advance in [financial] derivatives markets. This modern risk management paradigm held sway for decades. The whole intellectual edifice, however, collapsed.”)”THE KEYNES SOLUTION: THE PATH TO GLOBAL ECONOMIC PROSPERITY VIA A SERIOUS MONETARY THEORY” by Paul Davidson, 2012.

JUSTALUCKYFOOL asks,
“How do you democratically have a “Capitalistic Economy For The Betterment Of The People” ?

” Even if we broke up every big bank, reinstated Glass-Steagall, and put the speculators who created the 2007-2008 crash in jail
I’m not certain we can save the nation from financial collapse.”
Yes, because breaking up the ‘size’ of the too big to fail doesn’t cure the disease.

The disease of “systemic failure” and “monetary collapse” can only be cured by:
‘Separation of Private For Profit Banks’ from being the recipients of special privileges and protections granted by the state, and by taking away their legislated privilege of being allowed to issue our currency and poisoning that issuance with a taxation called ‘interest’.

‘ Reverse an economic recovery program that has privileged the recovery of financial markets and corporate profits has fueled the increase in wealth inequality, in the United States and across the world.’”
Take back from the Private For Profit Banks (PFPB) what we have legislated as an entitlement, “The issuing of our own money and charging “We The People” interest
on that issuance .”
Allow them to fail for they no longer will be a ‘systemic risk’ or be able to cause
‘monetary failure.’ Allow them to be subject to civil and criminal laws.

The sole right of issuance belongs to the people.

“Capitalism is the best system to date devised by mankind. As it is administrated, perhaps, is where the ‘flaw’ is manifested. If capitalism used its Central Bank properly, with honesty, accountability and transparency for the betterment of the common good, with equality and justice for all, capitalism could be the
one of the greatest achievements of mankind.”

Quote Mises (1998, 440): “Only free banking would have rendered the market economy secure against crises and depression. [And] [t]here is no reason whatever to abandon the principle of free enterprise in the field of banking.”
“Free banking means banks operate in an environment in which banks are subject to the general rules of commercial and civil law and are not the recipients of special privileges and protections granted by the state; placing “the banking business under the general rules of commercial and civil laws compelling every individual and firm to fulfill all obligations in full compliance with the terms of the contract.”

QUOTE: Soddy, “…indeed it is now a truism was that nothing useful can be done unless and until a scientific money system
takes the place of the one now always breaking down. The corollary, however, is never likely to be popular with our professional politicians…
It was that, if such a thing were done, little else in the way of arbitrary interference with and government control over the essential activities
of men in the pursuit of their livelihood would be required.
Indeed, just as now not one in a thousand understands why the existing money system has such power to hurt him,
so, if it were corrected as here outlined, not one in a thousand would need to know or, indeed, would know,
except by the consequences, either that it had been rectified or how it had been rectified…”

Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth
and the continuous flow of goods and services throughout the nation, money has become the life-blood of the community,
and for each individual a veritable licence to live at all…

A very slight knowledge of our actual existing monetary system makes it abundantly clear that,
without democracy knowing or allowing it, and without the matter ever being before the electorate
even as a secondary or minor political issue, the power of uttering money has been taken out of
national hands and usurped as a perquisite by the moneylender. Practically every genuine
monetary reformer is unanimous that the only hope of safety and peace lies in the nation
instantly resuming its prerogative over the issue of all forms of money…”

Comments by Justaluckyfool ( http://bit.ly/MlQWNs )
( “You are always welcome to share, copy, plagiarize, improve, etc..any comments.)

Read and challenge: DESTROY, EDIT OR ENDORSE. “SODDYISM”

… every monetary system must at long last conform, if it 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.”

Frederick Soddy writings, namely “The Role Of Money”
(Entire book as a free download…) http://archive.org/details/roleofmoney032861mbp ;

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