Monday, December 5, 2011

Of Interest: The Collapse of the American Dream

Explained in animation! An excellent watch.

The rundown:

Money = Debt

The Federal Reserve isn't actually part of the government.
We do best with money backed by actual capital - gold, for instance.
The IRS and FED appear to be synergistic in nature.

The FED orders the US Mint to print money.
The FED loans this money out to other banks at interest.
(Note that there isn't a requirement for more gold/capital to exist)
The loans go to borrowers at higher interest.
The loans get paid back (one way or another).

The money then goes to the owners of the banks.


The animation has a lot of history written into it, and a bit of conspiracy theory, too.

In short, one of the most striking points for me was something said by Jefferson -
"If the American people ever allow private banks to control the issue of their  currency, first by inflation, then by deflation, the banks…will deprive the people of  all property until their children wake-up homeless on the continent their fathers conquered."  
I'm concerned about this nation's well-being.

1 comment:

  1. to be fair monsieur, it would be highly unreasonable for the country to buy and sell the amount of gold to back such a large global economy such as ours. Money in itself is based upon it's scarcity and largely built upon trust rather than actual artifacts. The gold standard may have been okay back when the US was much smaller, but nowadays it would be ludicrous, and still the fact remains that gold's value is just as meaningless as that of paper in the grand scheme of things, and gold's value is determined by the market (which is far to volatile to back a currency), and paper is much more in our control. another fallacy is that the Fed is a completely private institution. Rather it is a quasi public system.


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