How a Liberal decided that Big Government CouldnÂ’t Work
I grew up in the farm country of rural Minnesota. We have strong Democratic traditions and a strong work ethic that leads most of us to live our lives working as hard as we can. Yet, we know that we all have a social bond that brings us all together and demand that we show that responsibility through our collective sacrificeÂ…taxes. Education, health care, social security and infrastructure are very important to the utilitarian people that I grew up around. We tend to see these issues through the lens of personal and social responsibility. Everyone has the responsibility to take care of themselves and those around, but no body is a man unto themselves. We are all in this together.
At the core, I still believe this about my country. I still believe that this is a good way to shape our society, but I no longer think that it is possible. As time has gone on, IÂ’ve learned several things regarding history of banking, monetary policy, the consolidation of wealth into the hands of the few, and corruption that have changed my view. This essay will examine the history of banking, monetary policy, the consolidation of wealth into the hands of the few and how this has led to massive corruption in our government and society.
We are quickly reaching a point in this country where the lifestyle of the common person will change forever. The standard of living that most Americans enjoy is being systematically destroyed. In the near future, there will come a generation that knows nothing but debt and poverty and will never ever own a thing in their entire lives. Every aspect of this generationÂ’s future will be determined by a number that will reflect the individualÂ’s ability to procure loans. In essence, all individuals will become slaves to the rules of a bank and the state will rigorously enforce these rules at the expense of our civil liberties.
History of Money
What is money? Where does it come from? How did it get to be this way? All of these questions are the most important questions in our society. The history of a civilizations rise and fall depends on the answers to these questions. In the United States, money is directly and indirectly created by the Federal Reserve.
The Federal Reserve can create money directly by government fiat. This money is then lent to the government in order to fund deficit spending. Receipts for this debt can be purchased by other parties which may include other central banks, international government entities, or foreign national governments. Only a small fraction of money is created in this fashion.
The bulk of the money in the US is created indirectly. The Federal Reserve can create money by lending money to other banks. This money starts its life with a stroke of a pen as numbers on a ledger. Other banks can then take this money and lend it out for ten times its worth. When another bank receives this debt/money, they are allowed to lend that money out for 90% of what it is worth. And so it goes, the creation of money begins at the central bank and by government fiat, every networking bank that touches a single dollar of this money is allowed to create an exponentially decreasing amount of brand new debt money.
Through these two methods, the Federal Reserve can control the supply of US dollars for the entire world. The system isnÂ’t without flaws. Indirect money creation needs to be very closely monitored. A bank needs to be aware of where all of its deposits come from in order to make sure that it doesnÂ’t lend out more debt money then it is legally allowed to do so. Thankfully, banks can share your private loan information with other banks in order to make this process easier.
Another problem arises with the existence of actual paper money. Banks can track large amounts of paper money with relative ease because they keep track of large deposits of cash. Problems arise when small amounts of cash are slowly accumulated into large amounts of cash. ItÂ’s virtually impossible to trace where this money comes from so its gets tossed into the pot of new debt money and is lent out at the maximum rate allowed. This is why the Federal Reserve board is gradually moving toward a cashless society, so that they can have complete control over all of the money in circulation.
We are almost there. Only a tiny fraction of all the money that exists is actually represented by an actual physical form of currency.
By now it should be obvious that the Federal Reserve is an immensely important institution for our society. Since they can control the money supply, they can influence every action where an exchange of money is required. Unfortunately, the democratic traditions that provide the citizens of the US with a voice in how their society should be shaped are almost entirely absent from this institution.
The Federal Reserve is owned small group of shareholders. The list of people who own the Federal Reserve is secret. The shareholders decide who will be on the Federal Reserve board and the Federal Reserve board will present a list of potential candidates for Chairman to the President of the United States, who then appoints one candidate to serve as long as the shareholders approve.
The Chairman of the Federal Reserve board makes the decision to create money in the form of a loan to the government or to create money in the form of a loan to other banks. Both of these powers are determined by the key interest rate that is set by the vote of the board. The lower the interest rate, the more money is borrowed by both the government and other banks, hence the more money is actually exists in circulation. The higher the rate, the less money is borrowed, and the less money actually exists in circulation.
By now, IÂ’m assuming that the astute reader is picking their jaws up off of the floor. How can the most powerful organization in the United States and arguably the world, be completely owned by a few secret shareholders and have only a token of democratic control? The answer to this question seems like something out of a mystery novel. In 1913, seven men who controlled more then a quarter of the worldÂ’s wealth, met on a secret island and wrote what would become known as the Federal Reserve Act. These men became the first shareholders in the Federal Reserve and determined who would be on the board and who would be the first Chairman.
Monetary Policy
As mentioned above, monetary policy is set by the Federal Reserved Board, by their manipulation of the key interest rate. This interest rate determines how quickly and how much money is lent out to the government and other banks and, through that process, ultimately determines how much money is in circulation. Thus, the rate of inflation is directly controlled by the setting of the key interest rate.
Before proceeding, I would like the reader to consider who receives payment on both the principal and the interest of the money created by the Federal Reserve. Legally, this newly created money can be lent out by the Federal Reserve to its branch banks and to the government. Thus, the Federal Reserve itself receives payment for both principle and interest on all the loans it issues, exactly like a private bank. Since the Federal Reserve is privately owned, the profit from this exchange are earned by the shareholders in the form of dividends. Our tax money is used to pay the loans that the Federal Reserve issues to the government. Our entire national debt plus the interest on those loans must eventually be paid back in full to whoever purchased the guarantor rights for these loans.
The Federal Reserve Board can and will sell guarantor rights of the loans it issues to other banks and to the government. This is done in order to protect the shareholders from risky loans and to make large profits in a short amount of time in the form of dividends for the shareholders.
As of this moment, the bulk of our national debt is actually owned by China. They could perform what is called a Margin Call on these loans and collect the total amount of principle if they chose. To do so, would bankrupt the government, effectively ending the payments they receive on the principle and interest for these loans. It is much more profitable to continue to collect taxpayer money as payment and loan it back to us in the form of a trade deficit.
For the average American, the monetary policy of the country indirectly influences almost everything that we do. When the prices of goods inflate or deflate, every unit of power that we put in our wallet finds an increase or decrease value. In times of inflation, we see an increase in the amount of dollars available, an increase in prices, and perhaps a paltry increase in wages if there is a wage increase at all.
The end result of all this is that the inflation caused by the Federal Reserve acts like a hidden tax on the economy. If the government wants to spend more money then it receives in taxes or if the Federal Reserve wants to lend new debt money to banks that are in trouble, then we an expect to pay taxes on this in the form of the devaluation of our currency.
Ben Bernanke, the current head of the Federal Reserve has been lampooned as Helicoptor Ben for his willingness to use the printing presses to bail out Wall Street. Meanwhile, Americans pay more for food, health care, education, roads, etcÂ…
As the price of goods rise and wages remain stagnant, taxes will be forced to rise in order to pay inflationary prices for all government programs. Many people have argued that inflation is a good thing for governments in debt because the value of that debt goes down. The truth is that inflation causes government to never get out of debt. They still have to pay for things and there is no way that taxes can keep up with inflationary prices when wages do not keep up with prices
The government is forced to make up the difference in revenue with an ever increasing amount of debt...which causes more inflation because the Federal Reserve creates the money for the debtÂ…which causes the government to deeper into debt because of gaps in revenueÂ…itÂ’s a cycle that never ends.
Consolidation of Wealth
Why does this happen? The government lies about inflation. The voters expect their candidates to do something about inflation, to do something about the economy, but neither the President nor the Congress has as much of an effect on the economy as the ability to create money out of nothing rests in the hands of a private cartel. The government touts its ability to keep down inflation, but they cherry pick the data they want to consider inflation because the reality is that they canÂ’t control it. Things like health care, education, housing, and fuel prices are completely ignored by the formula that the government uses to calculate the inflation figure.
The only thing the government considers, and this is via the Federal Reserves mandate, is the price of common household goods. These are things that most people pay cash for, so itÂ’s not something that the banking system really can keep hard numbers on. Health care, education, housing, etc, those are things in which people have to take large loans out for and those are the things that are explicitly left out of any formal calculation of inflation.
One has to wonder why both the Republican and Democratic candidates for president have no plan to fix any of this. The answer seems simple, abolish the Federal Reserve, end Fractional Reserve Banking and have the elected Federal Government directly control the creation of money. This would make it the governmentÂ’s job to control inflation and the people could get rid of governments that failed to do so via their votes.
The answer to why this doesnÂ’t happen, lies within another set of question, how much money actually exists? Who has this money?
As of 2008, there were 829 billion in paper US dollars in circulation around the world. Most of the paper money, two thirds, is exchanged overseas. This is the amount the Federal Reserve will tell you if you ask them how much money exists. However, as we learned before, the amount of paper money is nowhere near the total amount of money in existence. Since most money exists as numbers on a ledger, the real amount of dollars that actually exists is closer to 70 trillion dollars. To get an idea of how much money this is, if someone were to forcibly redistribute all of this wealth to every US citizen, every man, woman and child in the United States would receive a check for about $200,000 dollars.
This is a lot of money, but even that is a fraction of the total amount of money in the world. To get an idea of this amount imagine that there is a standard unit of wealth that you can convert every unit of currency in the world. This is an impossible task since there is no standard unit, but this number is important when you consider how wealth is consolidated in the global community.
In the US, the top 1% of households have 40% of the financial wealth. This number is calculated in US dollars and does not take into account the accumulation of international currencies. As far as the world is concerned, 2% of the worldÂ’s population has 50% of the worldÂ’s wealth. For the individuals for whom these statistics collide, we are looking at total accumulations of wealth that absolutely stagger the imagination. There is no real way to calculate this number as no world standard of wealth exists.
There is one thing that we know for certain. All of this wealth translates into political power. Individuals who accumulate vast pots of international wealth have inordinate amount of influence in the political spheres they operate. They are more able to bend the political reality of a country around their interests.
Corruption
To sit down and document the ways in which the wealthy dominate the political sphere would be an effort that would culminate in a tome so large that it would rival the Oxford English Dictionary. The reality is that whenever politics and vast sums of money connect, corruption always ensues. If money equals power, then vast sums of money equals a massive amount of power.
What can be done, within the span of a few paragraphs, is that the reader get idea as to the scale of the corruption of our government. WeÂ’ll start at Jeckyl Island with the creation of the Federal Reserve. As mentioned above, seven men who represented more then a quarter of the worldÂ’s total wealth, met in secret to write what would become known as the Federal Reserve Act.
These men designed a system that creates money and puts everyone in debt in order to get money. Every single dollar created after 1913 is a debt to these men. It must be paid back with interest. Think about that a moment. How much wealth would you accumulate with scheme like that? How much power would that wealth give you?
You could buy every government program. You could control every institution. You could control every political party. You could shape society however you saw fit. The numbers of books that have been written about examples of this are legion. There is no way within the scope of this essay that I could recount the details of everything. However, I think that if one considers the scope of the scam that was created by the men at Jeckyl Island, you will be faced the reality of the scale of corruption this nation faces.
I often wonder, at what point does a person have so much money that it becomes meaningless? What do you do with your life when you can get anything that you want? What do you do with your life if you can create enough money to buy the entire world? What could possibly be important after all that?
Power?
Conclusion
ItÂ’s tempting to pretend like none of this exists. ItÂ’s tempting to seek solace in many of the illusions that have been crafted around us by those seeking power. ItÂ’s also equally tempting to think that there is nothing you can do, nothing that anyone can do, to fix the problems all of this causes.
At the very least, I think that everyone can see that something needs to be done. The system doesnÂ’t work for us and that has to change.
In my honest opinion, I think we need to think differently about politics and money and I realize that this may cause me to eschew many of the cherished beliefs I was raised with. Things like universal health care, free education, and social safety nets are all coming with the strings of the elite attached. When someone seeks to have power over you, they need to reduce the amount of freedom that you have. They need to be able to tell you what to do and make you think that they know what is best for you. This is the tune in which all social programs are marching.
In a time of corruption you have to limit the power of the government in order to limit the influence of that corruption on your life. This means limiting the size of government. We canÂ’t afford the cost of big government in the form of taxes and we canÂ’t afford it at the expense of our freedom.
At the same time, I think we need to reform our financial system. The system was designed to put everyone in debt. It was designed to gather wealth at the highest levels and keep it there. It was designed to limit competition and keep everyone in their places.
We need a new kind of money. The Federal Reserve needs to be abolished. Fractional Reserve Banking needs to end. The people of this country need to control how much money exists not shareholders in a private bank.
I canÂ’t tell you how all of this is going to happen. I canÂ’t tell you if itÂ’s even possible to change this course. The cards are stacked against it, yet I think that itÂ’s something that has to happen if any of us are going to have any kind of freedom or prosperity in the future. Maybe when some of these problems are dealt with, our society can begin to think about some kind of social contract, but until then, I think itÂ’s only going to make the real problems worse.
I grew up in the farm country of rural Minnesota. We have strong Democratic traditions and a strong work ethic that leads most of us to live our lives working as hard as we can. Yet, we know that we all have a social bond that brings us all together and demand that we show that responsibility through our collective sacrificeÂ…taxes. Education, health care, social security and infrastructure are very important to the utilitarian people that I grew up around. We tend to see these issues through the lens of personal and social responsibility. Everyone has the responsibility to take care of themselves and those around, but no body is a man unto themselves. We are all in this together.
At the core, I still believe this about my country. I still believe that this is a good way to shape our society, but I no longer think that it is possible. As time has gone on, IÂ’ve learned several things regarding history of banking, monetary policy, the consolidation of wealth into the hands of the few, and corruption that have changed my view. This essay will examine the history of banking, monetary policy, the consolidation of wealth into the hands of the few and how this has led to massive corruption in our government and society.
We are quickly reaching a point in this country where the lifestyle of the common person will change forever. The standard of living that most Americans enjoy is being systematically destroyed. In the near future, there will come a generation that knows nothing but debt and poverty and will never ever own a thing in their entire lives. Every aspect of this generationÂ’s future will be determined by a number that will reflect the individualÂ’s ability to procure loans. In essence, all individuals will become slaves to the rules of a bank and the state will rigorously enforce these rules at the expense of our civil liberties.
History of Money
What is money? Where does it come from? How did it get to be this way? All of these questions are the most important questions in our society. The history of a civilizations rise and fall depends on the answers to these questions. In the United States, money is directly and indirectly created by the Federal Reserve.
The Federal Reserve can create money directly by government fiat. This money is then lent to the government in order to fund deficit spending. Receipts for this debt can be purchased by other parties which may include other central banks, international government entities, or foreign national governments. Only a small fraction of money is created in this fashion.
The bulk of the money in the US is created indirectly. The Federal Reserve can create money by lending money to other banks. This money starts its life with a stroke of a pen as numbers on a ledger. Other banks can then take this money and lend it out for ten times its worth. When another bank receives this debt/money, they are allowed to lend that money out for 90% of what it is worth. And so it goes, the creation of money begins at the central bank and by government fiat, every networking bank that touches a single dollar of this money is allowed to create an exponentially decreasing amount of brand new debt money.
Through these two methods, the Federal Reserve can control the supply of US dollars for the entire world. The system isnÂ’t without flaws. Indirect money creation needs to be very closely monitored. A bank needs to be aware of where all of its deposits come from in order to make sure that it doesnÂ’t lend out more debt money then it is legally allowed to do so. Thankfully, banks can share your private loan information with other banks in order to make this process easier.
Another problem arises with the existence of actual paper money. Banks can track large amounts of paper money with relative ease because they keep track of large deposits of cash. Problems arise when small amounts of cash are slowly accumulated into large amounts of cash. ItÂ’s virtually impossible to trace where this money comes from so its gets tossed into the pot of new debt money and is lent out at the maximum rate allowed. This is why the Federal Reserve board is gradually moving toward a cashless society, so that they can have complete control over all of the money in circulation.
We are almost there. Only a tiny fraction of all the money that exists is actually represented by an actual physical form of currency.
By now it should be obvious that the Federal Reserve is an immensely important institution for our society. Since they can control the money supply, they can influence every action where an exchange of money is required. Unfortunately, the democratic traditions that provide the citizens of the US with a voice in how their society should be shaped are almost entirely absent from this institution.
The Federal Reserve is owned small group of shareholders. The list of people who own the Federal Reserve is secret. The shareholders decide who will be on the Federal Reserve board and the Federal Reserve board will present a list of potential candidates for Chairman to the President of the United States, who then appoints one candidate to serve as long as the shareholders approve.
The Chairman of the Federal Reserve board makes the decision to create money in the form of a loan to the government or to create money in the form of a loan to other banks. Both of these powers are determined by the key interest rate that is set by the vote of the board. The lower the interest rate, the more money is borrowed by both the government and other banks, hence the more money is actually exists in circulation. The higher the rate, the less money is borrowed, and the less money actually exists in circulation.
By now, IÂ’m assuming that the astute reader is picking their jaws up off of the floor. How can the most powerful organization in the United States and arguably the world, be completely owned by a few secret shareholders and have only a token of democratic control? The answer to this question seems like something out of a mystery novel. In 1913, seven men who controlled more then a quarter of the worldÂ’s wealth, met on a secret island and wrote what would become known as the Federal Reserve Act. These men became the first shareholders in the Federal Reserve and determined who would be on the board and who would be the first Chairman.
Monetary Policy
As mentioned above, monetary policy is set by the Federal Reserved Board, by their manipulation of the key interest rate. This interest rate determines how quickly and how much money is lent out to the government and other banks and, through that process, ultimately determines how much money is in circulation. Thus, the rate of inflation is directly controlled by the setting of the key interest rate.
Before proceeding, I would like the reader to consider who receives payment on both the principal and the interest of the money created by the Federal Reserve. Legally, this newly created money can be lent out by the Federal Reserve to its branch banks and to the government. Thus, the Federal Reserve itself receives payment for both principle and interest on all the loans it issues, exactly like a private bank. Since the Federal Reserve is privately owned, the profit from this exchange are earned by the shareholders in the form of dividends. Our tax money is used to pay the loans that the Federal Reserve issues to the government. Our entire national debt plus the interest on those loans must eventually be paid back in full to whoever purchased the guarantor rights for these loans.
The Federal Reserve Board can and will sell guarantor rights of the loans it issues to other banks and to the government. This is done in order to protect the shareholders from risky loans and to make large profits in a short amount of time in the form of dividends for the shareholders.
As of this moment, the bulk of our national debt is actually owned by China. They could perform what is called a Margin Call on these loans and collect the total amount of principle if they chose. To do so, would bankrupt the government, effectively ending the payments they receive on the principle and interest for these loans. It is much more profitable to continue to collect taxpayer money as payment and loan it back to us in the form of a trade deficit.
For the average American, the monetary policy of the country indirectly influences almost everything that we do. When the prices of goods inflate or deflate, every unit of power that we put in our wallet finds an increase or decrease value. In times of inflation, we see an increase in the amount of dollars available, an increase in prices, and perhaps a paltry increase in wages if there is a wage increase at all.
The end result of all this is that the inflation caused by the Federal Reserve acts like a hidden tax on the economy. If the government wants to spend more money then it receives in taxes or if the Federal Reserve wants to lend new debt money to banks that are in trouble, then we an expect to pay taxes on this in the form of the devaluation of our currency.
Ben Bernanke, the current head of the Federal Reserve has been lampooned as Helicoptor Ben for his willingness to use the printing presses to bail out Wall Street. Meanwhile, Americans pay more for food, health care, education, roads, etcÂ…
As the price of goods rise and wages remain stagnant, taxes will be forced to rise in order to pay inflationary prices for all government programs. Many people have argued that inflation is a good thing for governments in debt because the value of that debt goes down. The truth is that inflation causes government to never get out of debt. They still have to pay for things and there is no way that taxes can keep up with inflationary prices when wages do not keep up with prices
The government is forced to make up the difference in revenue with an ever increasing amount of debt...which causes more inflation because the Federal Reserve creates the money for the debtÂ…which causes the government to deeper into debt because of gaps in revenueÂ…itÂ’s a cycle that never ends.
Consolidation of Wealth
Why does this happen? The government lies about inflation. The voters expect their candidates to do something about inflation, to do something about the economy, but neither the President nor the Congress has as much of an effect on the economy as the ability to create money out of nothing rests in the hands of a private cartel. The government touts its ability to keep down inflation, but they cherry pick the data they want to consider inflation because the reality is that they canÂ’t control it. Things like health care, education, housing, and fuel prices are completely ignored by the formula that the government uses to calculate the inflation figure.
The only thing the government considers, and this is via the Federal Reserves mandate, is the price of common household goods. These are things that most people pay cash for, so itÂ’s not something that the banking system really can keep hard numbers on. Health care, education, housing, etc, those are things in which people have to take large loans out for and those are the things that are explicitly left out of any formal calculation of inflation.
One has to wonder why both the Republican and Democratic candidates for president have no plan to fix any of this. The answer seems simple, abolish the Federal Reserve, end Fractional Reserve Banking and have the elected Federal Government directly control the creation of money. This would make it the governmentÂ’s job to control inflation and the people could get rid of governments that failed to do so via their votes.
The answer to why this doesnÂ’t happen, lies within another set of question, how much money actually exists? Who has this money?
As of 2008, there were 829 billion in paper US dollars in circulation around the world. Most of the paper money, two thirds, is exchanged overseas. This is the amount the Federal Reserve will tell you if you ask them how much money exists. However, as we learned before, the amount of paper money is nowhere near the total amount of money in existence. Since most money exists as numbers on a ledger, the real amount of dollars that actually exists is closer to 70 trillion dollars. To get an idea of how much money this is, if someone were to forcibly redistribute all of this wealth to every US citizen, every man, woman and child in the United States would receive a check for about $200,000 dollars.
This is a lot of money, but even that is a fraction of the total amount of money in the world. To get an idea of this amount imagine that there is a standard unit of wealth that you can convert every unit of currency in the world. This is an impossible task since there is no standard unit, but this number is important when you consider how wealth is consolidated in the global community.
In the US, the top 1% of households have 40% of the financial wealth. This number is calculated in US dollars and does not take into account the accumulation of international currencies. As far as the world is concerned, 2% of the worldÂ’s population has 50% of the worldÂ’s wealth. For the individuals for whom these statistics collide, we are looking at total accumulations of wealth that absolutely stagger the imagination. There is no real way to calculate this number as no world standard of wealth exists.
There is one thing that we know for certain. All of this wealth translates into political power. Individuals who accumulate vast pots of international wealth have inordinate amount of influence in the political spheres they operate. They are more able to bend the political reality of a country around their interests.
Corruption
To sit down and document the ways in which the wealthy dominate the political sphere would be an effort that would culminate in a tome so large that it would rival the Oxford English Dictionary. The reality is that whenever politics and vast sums of money connect, corruption always ensues. If money equals power, then vast sums of money equals a massive amount of power.
What can be done, within the span of a few paragraphs, is that the reader get idea as to the scale of the corruption of our government. WeÂ’ll start at Jeckyl Island with the creation of the Federal Reserve. As mentioned above, seven men who represented more then a quarter of the worldÂ’s total wealth, met in secret to write what would become known as the Federal Reserve Act.
These men designed a system that creates money and puts everyone in debt in order to get money. Every single dollar created after 1913 is a debt to these men. It must be paid back with interest. Think about that a moment. How much wealth would you accumulate with scheme like that? How much power would that wealth give you?
You could buy every government program. You could control every institution. You could control every political party. You could shape society however you saw fit. The numbers of books that have been written about examples of this are legion. There is no way within the scope of this essay that I could recount the details of everything. However, I think that if one considers the scope of the scam that was created by the men at Jeckyl Island, you will be faced the reality of the scale of corruption this nation faces.
I often wonder, at what point does a person have so much money that it becomes meaningless? What do you do with your life when you can get anything that you want? What do you do with your life if you can create enough money to buy the entire world? What could possibly be important after all that?
Power?
Conclusion
ItÂ’s tempting to pretend like none of this exists. ItÂ’s tempting to seek solace in many of the illusions that have been crafted around us by those seeking power. ItÂ’s also equally tempting to think that there is nothing you can do, nothing that anyone can do, to fix the problems all of this causes.
At the very least, I think that everyone can see that something needs to be done. The system doesnÂ’t work for us and that has to change.
In my honest opinion, I think we need to think differently about politics and money and I realize that this may cause me to eschew many of the cherished beliefs I was raised with. Things like universal health care, free education, and social safety nets are all coming with the strings of the elite attached. When someone seeks to have power over you, they need to reduce the amount of freedom that you have. They need to be able to tell you what to do and make you think that they know what is best for you. This is the tune in which all social programs are marching.
In a time of corruption you have to limit the power of the government in order to limit the influence of that corruption on your life. This means limiting the size of government. We canÂ’t afford the cost of big government in the form of taxes and we canÂ’t afford it at the expense of our freedom.
At the same time, I think we need to reform our financial system. The system was designed to put everyone in debt. It was designed to gather wealth at the highest levels and keep it there. It was designed to limit competition and keep everyone in their places.
We need a new kind of money. The Federal Reserve needs to be abolished. Fractional Reserve Banking needs to end. The people of this country need to control how much money exists not shareholders in a private bank.
I canÂ’t tell you how all of this is going to happen. I canÂ’t tell you if itÂ’s even possible to change this course. The cards are stacked against it, yet I think that itÂ’s something that has to happen if any of us are going to have any kind of freedom or prosperity in the future. Maybe when some of these problems are dealt with, our society can begin to think about some kind of social contract, but until then, I think itÂ’s only going to make the real problems worse.
. 
