That’s pretty cool!
I think that’s because it’s still a consolidation of power garnered by free-market mechanisms (or there is no mechanism to stop it).
Noam Chomsky said the collapse of the USSR was a victory for socialism:
[youtube]https://www.youtube.com/watch?v=K4Tq4VE8eHQ[/youtube]
I am advocating a dispersal of power both in terms of governmental and financial power which precludes communistic dictators on one extreme and plutocratic dictators on the other extreme.
I think it was Chris Hedges who said liberalism was meant to be the political center, though I’ve forgotten the rationale he used and it’s buried in the midst of a 3 hour video. Anyway, the middle way seems to be the proper way.
Power consolidation will happen as long as there is mechanism to allow for it to happen:
[youtube]https://www.youtube.com/watch?v=ifyEPRvj2YI[/youtube]
So the solution is to spread power as thin as possible while still maintaining a country.
The perils of mob rule are mitigated by maintaining a robust educational system.
Communism may do ok if the whole world were communistic, but it cannot compete with a economic system that requires growth in order to survive. People say “Look at the USSR and Venezuela.” I have to wonder how much of a role the US played in keeping those places down in order to make its own system look good. I even heard this is the real reason for the caravan: that the people are pissed and feel the US owes them something.
The gold standard was the cause of the Revolutionary War according to Ben Franklin:
[i]In 1720 every colonial Royal Governor was instructed to curtail the issue of colonial money. This was largely unsuccessful. In
1742 the British Resumption Act required that taxes and other debts be paid in gold. This caused a depression in the colonies
- property was seized on foreclosure by the rich for one-tenth its value.
Benjamin Franklin was a big supporter of the colonies printing their own money. In 1757, Franklin was sent to London to fight
for colonial paper money. He ended up staying for the next 18 years - nearly until the start of the American Revolution.
During this period, ignoring Parliament, more American colonies began to issue their own money.
Called Colonial Scrip, the endeavor was successful, with notable exceptions. It provided a reliable medium of exchange, and it
also helped to provide a feeling of unity between the colonies. Remember, most Colonial Scrip was just paper money - debt-
free money - printed in the public interest and not really backed by gold or silver coin. In other words, it was a fiat currency.
Officials of the Bank of England asked Franklin how he would account for the new-found prosperity of the colonies. Without
hesitation he replied:
“That is simple. In the colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the
demands of trade and industry to make the products pass easily from the producers to the consumers… In this manner,
creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one.”
This was just common sense to Franklin, but you can imagine the impact it had at the Bank of England. America had learned
the secret of money, and that genie had to be returned to its bottle as soon as possible.
As a result. Parliament hurriedly passed the Currency Act of 1764. This prohibited colonial officials from issuing their own
money and ordered them to pay all future taxes in gold or silver coins. In other words, it forced the colonies on a gold and
silver standard. This initiated the first intense phase of the first “Bank War” in America, which ended in defeat for the Money
Changers beginning with the Declaration of Independence, and concluded by the subsequent peace Treaty of Paris 1783.
For those who believe that a gold standard is the answer for America’s current monetary problems, look what happened to
America after the Currency Act of 1764 was passed. Writing in his autobiography, Franklin said:
“In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that
the streets of the Colonies were filled with unemployed.”
Franklin claims that this was even the basic cause for the American Revolution. As Franklin put it in his autobiography:
“The Colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the
Colonies their money, which created unemployment and dissatisfaction.” [/i] archive.org/stream/TheMoneyMast … s_djvu.txt
The banks own most of public debt and private debt mygovcost.org/2017/05/15/who … al-debt-2/
If the debt goes bad, the fed will simply buy it, so the banks can’t lose. The question is what happens to the dollar relative to other countries when the fed is forced to buy the debt that no one can pay? If all central banks print en masse, then I suppose nothing happens except that the rich are made richer, courtesy of the central banks, and the people are bankrupt.
This is just a scheme to transfer wealth from the poor to the rich just like having cattle is a scheme to transfer nutrition from the ground to the rancher via the toils of the cow. The more cows we can get working for us, the fatter we’ll be. The more people paying interest to us, the fatter we’ll be. Sure, the cows have a better life, but not commensurate with their labor.
Anyway, as long at they can keep people arguing about whether a gold standard is better than debt-based money, they win either way because no one will stop to consider that we could simply issue our own money from the treasury without paying interest to anyone.