Americans may have never thought about where money comes from and its main drawback. When money is created, there is no “money” for the interest that is tagged to borrowing it (usury). Eventually, societies have to perpetually increase the money supply simply to pay the interest on increased borrowing, and the fan of inflation has begun.
There are different ways to create money, for example, one way is to take the “money” a foreign country earned by selling the U.S. oil or cars, such as Saudi Arabia or Japan, and borrow it back so we can buy more oil and automobiles. That is what then Secretary of State Henry Kissinger negotiated with Saudi Arabia, the so-called Petro-Dollar.
Again, for example, the US does this by issuing to Japan a US Treasury Note (IOU). Japan now holds $1+ trillion of these IOUs (which appears will never be paid back). We pay Japan ~2% interest for this borrowed “money.” Where does the 2% come from? It doesn’t exist.
Human societies need more money to grow their economies, and at least to supply money to a growing population, + interest. Printing more paper (fiat) money never covers the cost of interest to lend and borrow it. That is why interest on US Treasury Bonds are ~2% and the target inflation rate is ~2%.
In a recent commentary David Lifschultz addresses the above question with a remedy – – – gold-backed money. Since there is only a measured amount of gold, on a supply-and-demand basis, the value of gold rises with its demand, and now you have a true asset-backed currency plus money to pay interest. You have enough gold to grow your economy because it just rises in value. The more borrowing the higher the value of gold. But that is in the next world, not this one. The spot price of gold is manipulated so as to never compete with fiat.
You drive your society to ruination by adding interest, printing more and more paper money, which is the present situation (Congress is forced to perpetually vote to increase the debt limit, and by so doing generates inflation.)
Adding more money to the pile w/o increasing productivity or assets simply dilutes the value of existing “money,” and plentiful money results in makers of goods and services realizing they can charge more (what the market will bear), which is another form of INFLATION.
That is all that Congress is doing now – – creating a loss of the purchasing power of your money. Intentional? Well, yes, because government can’t pay back money taken from the public for future medical care or pensions without fully inflated (worth less) dollars.
For the seventh time, I present by example, Social Security that paid $321 average in 1980 and now pays, on average, ~$1437/month to pensioners. But if factored for inflation, it should be more like $7617/month! (ShadowStats.com inflation calculator). This is how they make up for the interest, by paying you back in worth-less dollars!!! No one catches on to the shell game.
Imagine you were paid back your Social Security in those tin pennies they now produce (they don’t even sound metallic when you drop them), but you originally paid into Social Security with copper pennies. You would feel cheated, right? That is what is going on today. Debasing the currency.
To make matters worse, interest on your banked money is less than 1% and inflation is around 15% (source: ShadowStats). About 7 in 10 Americans have savings accounts that are losing value. Not a soul dares to bring this topic up in Congress. Silent bank robbery by another name.
Americans are mindless because they read their savings account passbook and it still has $10,000 in it. But it won’t buy what it did just a short time ago. That is called purchasing power.
In the 1920s the U.S. considered building a public works project, a hydro-electric dam at Muscle Shoals on the Tennessee River in Alabama. The project would cost an estimated $40 million. Congress was reticent to raise taxes or issue bonds (30-year bonds at 4% interest) at the time to fund the project. At the end of 30 years the project would cost an additional $48 million in interest!
Ford and Edison proposed a new monetary system whereby workers and manufacturers would be paid for public works projects directly from the US Treasury, rather than running it through the Federal Reserve central bank + interest. The money would be backed by the goods and services created, in their example, electrity.
Ford and Edison were not critical of banks in private and commercial lending, saying banks play a useful role there. But in public works projects, this made no sense because the central bank (Federal Reserve) does nothing and earns, in this example, $48 million (in 1920 dollars). It does pay some of that back to the federal government the people), but it takes its cut for doing nothing.
Edison and Ford never posited that the increased value of gold would make up for the interest as Lifschultz does. But their idea was only sound for public works.
This is what John F. Kennedy realized in 1963, that America was headed for financial ruin by printing more and more paper (or electronic) money and running it through the Federal Reserve Bank to lend out to community banks so Americans could buy houses and cars. But there was no provision for interest added. We were letting a guy (Fed Reserve) get a cut of the action by charging interest for doing nothing (not adding any value to the money).
When someone else gets a cut for doing nothing, that is what we call mafia. That is what the central bank is — the mob, with a fancy building in Wash DC as cover for mobsterism.
In 1963 JFK went around the “money changers” and printed $4 billion of silver-backed money. The fiat money boys (central bankers) would have none of it…… JFK was assassinated. The silver-backed dollars were quietly withdrawn from circulation. How anyone dare challenge the bankers (mob) and go around them.
The BAB lending is a whopping $6 trillion over a decade of public works projects. A 20-year bond @7.4% interest yields some unholy total, grillions in interest. While this is denied, this is going to burden Americans with tax increases.
To make matters worse, in the past decade or two almost all of the increased value in our modern society has been captured by the oligarchs, the billionaires. The top 10% owns 70+% of everything. Now Congress just has oligarchs fund stuff instead of voting in Congress. Private enterprise launches satellites. Bill Gates funds vaccines. In case you didn’t know, this cozy relationship between business and government is called FASCISM.
The masses are groveling around, losing their shirt regardless of how hard they work. The more they make, the more they stuff in the bank, the more those gains are ruined by inflation. Americans need to learn to own assets and gold and silver.
It has been said, the rich buy stocks and the poor lottery tickets. If the poor purchased one US Silver Dollar every paycheck, after 40 years of labor, they would hold a liquid asset that has far more value than a pile of lottery tickets. And they would, as a class, increase the value of their own investment by increased demand for silver! A sure profit!
Well, cryptocurrencies do get the bankers mitts off everybody’s money. Cryptocurrency is posed as a store of wealth given its self-limited supply. But economist and historical commentator David Lifschultz says cryptos may be finite, but that is not true for the sector. Since 2013 cryptocurrencies increased from 26 to 7,877. As Lifschultz says: “At least with gold, they are not adding any new elements to the periodic table.”
Government can no longer meet its social contract with the people. The final solution is to eradicate these “useless eaters” as they call them. The planned-demic is the answer for all of the life insurance companies and public pension plans that can’t possibly pay back to people who are living longer. A virus that kills off oldsters arrived just in time.
The US Federal Government now spends ~$7 trillion a year and collects ~$4 trillion a year in tax revenues. America has stolen money from its future by borrowing. America is living a lifestyle it hasn’t earned. Some Medicare and Social Security payments now come out of the General Fund, not the depleted Medicare and Social Security Trust Funds. The US plans to make up for that $3 trillion revenue shortfall by raising the amount of reportable income.
But then Americans then won’t be able to make their house or car payments. Precisely. That is why the Great Reset promises you will own nothing. Government and the mob will own everything. The amount of money you will have left after taxes (called disposable income) will buy you bubble gum.
A new twist. The $7 trillion asset management company Blackrock is poised to fuse fiscal (interest rates, money supply) and monetary policy (price stability, full employment) into a single weapon deployable by the Central Bank, given that Central Banks have no tools left to boost the real economy after lowering the cost of money to zero! All that does is create a false bubble in the economy.
It is Blackrock that proposes direct deposit of money into the public’s accounts. The pandemic stimulus was a trial run.
Under the “reset,” banks financial health would be placed ahead of people in a financial crisis. This has happened in Lebanon where banks have seized accounts, limit withdrawals to $300, and control purchases. This is why wealth has to be withdrawn from banks before it is seized. This will be accomplished by declaration or by inflation.
Governments are going to intentionally crash economies to gain the upper hand and force in draconian measures. They will feign a pandemic to do this.
If the people tolerate the growth of private power to the point where it becomes stronger than their democratic-elected state itself, then it becomes fascism. Right now, government has engineered the growth in the economy to be captured by a few while the populace is left penniless.
Put in the 5G to run the robots, roboticize America, and the US doesn’t need to outsource jobs to China (cheaper labor, so we can buy cheaper goods) and the US will need 40 million less workers. These “useless eaters” are then placed on guaranteed income, and everybody is happy, right?
You don’t need to work, you don’t own anything (the Great Reset), you have no wealth or property (you rent everything from the mob), but you have no bills to pay because government took it out of your paycheck automatically. And that my friend is what is called loss of freedom. There will be no risks, but also no gains.
Then government doesn’t just control how much you are paid, it also completely controls how much you spend and what you spend it on. Donations to churches might be rejected because they are deemed to be racist, non-equitable, terrorist groups. Purchase of a gasoline-powered automobile would likely be rejected, with battery-powered vehicles the only alternative.
On that topic, the auto industry is being driven to electric automobiles. But that is a ruse. Most Americans can’t afford battery-powered automobiles. The White House says it wants to take millions of drivers off the road, entirely. This isn’t about cleaner cars and trucks.
Another $2 trillion was just added to Americans bank accounts in the pandemic bailout. Every American ought to be out spending every dime they have in the bank before its value erodes even more. Buying something durable and that has utility, and can be traded or bartered, would be advised.
The velocity of money (how fast we spend money) is at an all-time low. People’s bank accounts soared as the Federal government gave away bailout money for doing nothing. Americans paid down credit cards or saved their new-found money, they didn’t spend. Bank reserves increased by $2 trillion and the requirement for banks to hold 10% of their loans in reserve were dropped. The Federal government gained public goodwill, but in effect gave the money to the banksters. The naïve public is none the wiser.
You can lead a horse to water but you can’t make him drink. You can funnel money directly to people’s bank accounts, but you can’t force them to spend. In a consumer economy, spending is important for growth.
In the past, in an effort to jump-start their consumer economy, Japan gave everybody $2000, but they stuck it in their savings account rather than spend it.
Soon government will just take your money out of the bank and force you to pay for something, such as carbon credits. There you go! They fixed the problem of hoarding (saving) money.
Negative interest rates do the same (you pay interest on money you keep in the bank and don’t spend). Negative interest rates are in Europe and probably coming to the USA.
Twenty-five percent of Americans have no emergency savings; 51% have less than 3-months worth of emergency savings. The top 10% own 70% of America’s wealth. The remaining target is to crush the remaining “wealthy” middle class to control Americans monetarily and erode their freedoms to the point of non-existence. Big business will then own everything. It’s one thing to be poor, it’s another to be kept poor.
We saw what happened when the Federal government issued checks directly into workers bank accounts. They stopped working and that brought down many American businesses (110,000 restaurants). (Intentional?) Small independent businesses were throttled.
Pay no attention to the bankers behind the curtains and you will fall for their false life preserver as did Dorothy to the Wizard Of Oz. Americans confuse courage with wisdom, as did the Lion in that movie. Stop picketing in the streets. Americans aren’t going to tweak the conscience of banksters. They have none.
Just say no! Take your money out of the large banks and put it into community banks and credit unions and into assets and precious metals before inflation robs you of what little wealth that remains. And stop buying lottery tickets.
With high inflation there is no way to get ahead unless a worker gets a 15% pay raise every year. People who own their own business have no cap on their income. Be entrepreneurial, if not by choice, then by coercion. It is only fear that keeps you from venturing out on your own. A paycheck is a crutch. There is money all around you. Success is the sweetest revenge.
Be cunning. Use guerrilla tactics to beat big business. Inch your way to success. Know what to do with money after you make it. Cash flow is king. Bartering is something that cannot be taxed.
A US Silver Eagle coin is worth whatever you negotiate at the local egg ranch or farm, not the manipulated spot price controlled by bankers.
You may be able to recite important historical dates, like when the Magna Carta was signed (1215 AD), or how to write a clear sentence, or know what a hypotenuse is. But head knowledge is of little or no value. Cling to those lessons that add value to your life, that other people will pay you for.
Skills count. Saving money (using coupons to buy stuff at a discount) is one thing, making money is another.
Bankers are using your money to become wealthy. Why are we lending it to them for next to nothing?
Your real wealth is between your ears. Make your wealth what you know how to do, not what you put in the bank.
Remember what Winston Churchill said: “The blessings of capitalism are the unequal sharing of its productivity. The reward of socialism is the equal sharing of misery.” Find your way out!
Don’t allow fear to run your life. Fearful of the virus? Remember, you need to be infected to develop immunity against Covid! 99% of people became immune w/o a vaccine. So why are you vaccinating? Then you have needlessly submitted to fear.
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