DO YOU KNOW HOW MONEY WORKS?
written in the spirit by The Good Reverend Roger
Most Americans have no idea how their monetary system works...and if they did, they'd never get a good night's sleep again. That's how ridiculous the system really is. Understanding it automatically causes you to lose faith in it...And, given the fiat nature of our currency, when people lose faith in it, it stops working.
Obviously, this sort of thing is seditious as hell. Therefore, if you are a Good American, you'll stop reading NOW. Crumple this up & toss it away, or turn it in to the authorities. Good doggie.
Okay, for those of you who are still reading this, relax: This isn't going to be some dry lecture on economics...you can get that on teevee. This is the actual nuts and bolts of how our currency "works".
On a dollar bill, there are three odd things. The first two are the eye and the pyramid, and the Star of David formed by stars over the eagle's head. These are red herrings, totally meaningless. The important thing is the phrase "This note is public tender for all debts, public and private."
This is a legal term, meaning a promise to pay. Until the federal reserve, this meant that you could exchange that dollar for a dollar's worth of silver, at the going rate. This system is actually required by the constitution, but is ignored. What the dollar actually is now, is a promise to pay another dollar, just like it.
But wait! It gets weirder! When the fed wants to increase the money supply without inflation, they have to add value to the economy to do so. So what they do is loan the US government up to eight times their own value. With me so far? Good. The government guarantees the loan with a bond, representing the "full faith and credit" of the US government.
What gives the loan value? The bond. What gives the bond value? The loan, of course. This is, obviously, the economic equivalent of grabbing your own feet and hauling yourself three feet into the air. It's a fiction, a social convention that only works because nobody thinks about it.
So now you know. It might not bug you just yet, but it will. And now that you know, you can't un-know, no matter how hard you try. You can only spend the rest of your life trying to pretend that our economic system isn't a gigantic sham.
Sleep tight.
Or Kill Me.
This may be the scariest thing you have ever written. What aboiut the bit about the office that sounds like it's a part of the US government but it is actually.....wtf was that again?
Quote from: Eldora, Oracle of AlchemyThis may be the scariest thing you have ever written. What aboiut the bit about the office that sounds like it's a part of the US government but it is actually.....wtf was that again?
1. Thanks. :lol:
2. The Federal Reserve? It's neither fish nor fowl. It is a private organization whose chief is appointed by the president. It's a collection of private banks that has actual control of the "government's" currency.
Federal Reserve, that's the one. That is the stuff of nightmares :shock:
Quote from: Eldora, Oracle of AlchemyFederal Reserve, that's the one. That is the stuff of nightmares :shock:
Ho ho! It gets even weirder, still.
The fed is owned by the banks. The banks are owned by principle investors, which are usually large corporations. These corporations basically own the government through lobbies and campaign contributions.
And the politicians name the fed chief.
Round and round it goes.
Why do you think I call it The Machine,Ñ¢?
Yeah, I was already worried about the fiat money system and all.
But I didn't quite know about the bond and loan money system.
Wasn't the first fiat money printed in China?
Quote from: Eldora, Oracle of AlchemyThis may be the scariest thing you have ever written.
I concur; it is a very effective piece.
I've know this for a while now, and it really bothers me.
What bothers me even more is when people just shrug it off.
Quote from: Buddhist_Monk_WannabeI've know this for a while now, and it really bothers me.
What bothers me even more is when people just shrug it off.
I'm not sure why this should bother me.. I mean, it's not like there is much being produced in the States these days, and more of it's manufacturing is being done elsewhere.
Flames, answers, links, any explanation?
I have no clue what's so bad about it.
Quote from: deetQuote from: Buddhist_Monk_WannabeI've know this for a while now, and it really bothers me.
What bothers me even more is when people just shrug it off.
I'm not sure why this should bother me.. I mean, it's not like there is much being produced in the States these days, and more of it's manufacturing is being done elsewhere.
Flames, answers, links, any explanation?
I have no clue what's so bad about it.
Plenty is manufactured in America. Some of the finest cluster bombs in the WORLD are manufactured in America.
The real issue is that - manufacturing or not - America IS the world's economic hub. When America gets a cold, economically, the world sneezes.
And when America collapses under her own weight, she'll drag the whole world into a dark age. That's not "arrogance" talking, that's cold, hard fact.
Quote from: The Good Reverend RogerQuote from: deetQuote from: Buddhist_Monk_WannabeI've know this for a while now, and it really bothers me.
What bothers me even more is when people just shrug it off.
I'm not sure why this should bother me.. I mean, it's not like there is much being produced in the States these days, and more of it's manufacturing is being done elsewhere.
Flames, answers, links, any explanation?
I have no clue what's so bad about it.
Plenty is manufactured in America. Some of the finest cluster bombs in the WORLD are manufactured in America.
The real issue is that - manufacturing or not - America IS the world's economic hub. When America gets a cold, economically, the world sneezes.
And when America collapses under her own weight, she'll drag the whole world into a dark age. That's not "arrogance" talking, that's cold, hard fact.
I'm taking a small leap of logic here, but this is what I'm getting:
1. Average American citizen says "Holy fuck. My money is worthless."
2. Stops spending.
3. Stock market crashes, because Avg American gets scared easily.
4. China says "Holy fuck. All our investements are now worth less."
5. Japan, Saudi Arabia, etc. follows.
6. Nobody says "Wait a minute, we have an assfuckload of gold." and jumpstarts the system?
edit: upon reflection, while washing dishes, I have realized something.
I'm not going to get it; it's just money.
deet,
has no knowledge of economics.
Economics and economies are driven by scarcity. Real and fictional. The Economy reacts to this scarcity, real and/or fictional.
Example:
Holy Crap. A Hurricane is coming and Iran is in a right snit about something again.
Result:
Some guy in a blue jacket in Chicago starts panicing about oil scarcity.
You wake up and that Shell gas station down the road just upped its per gallon price on gas by 30 cents.
Whether or not there is an actual scarcity the fear of it spikes the price of oil and gas.
Society is so scared of running out of stuff. It's these reactions and fears that drive us to borrow money when we think we don't have enough. But, the individual members of society know damn well that irrationality pervades the human condition and that it will never go away.
The Good Rev. is right. If everyone really understood what was going on there would be an immediate scarcity of liquor and sleeping pills.
deet,
no-one wants to go back to gold standard. You know why? Because China and Russia have huge quantities of gold and America sold all theirs off to very secretive private investors, because of its apparent stability in the market over the long term making it a good investment choice after real estate. America would be raped economically by what the policy wonks see as second rate countries if it happened.
Have any of you read The Creature from Jekyll Island by G. Edward Griffon?
Welcome, tygrr.
Are you a fan of William Blake?
isn't everyone??
Yes, I'm William Blake. Have you read my poetry?
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