Best kept secrets of the Dollar

[Mr_Jefferson_24]

[KurtNYC]

1. This is "give out speeding tickets at the Indy 500" stuff

The game is the game and it belittles those who truly were/are enslaved to call credit "slavery." There are human beings chained to sewing machines in the USA right now.

No one is forcing anyone to take a 30 year home loan. If there WAS gold behind the dollar then people could moan about how gold isn't "food, clothing or shelter" and therefore has an artificial value and how we can't just turn in a dollar and get the gold so it's all a big scary "secret."

[Mr_Jefferson_24]

13. Thanks for your input Kurt.

[indie9197]

2. The source of this video is a doomsday prepper type of site.

However, it is an accurate picture of fractional reserve system set up by the Fed. I wish "we" could wipe the federal debt clean and start our own system without private banks. We never should have given the Fed control back in 1913.

[rickford66]

3. I'm no expert on history but ...

from my limited reading, haven't most or all historical "governments" financed themselves in some way by either taking wealth from their citizens or extracting "fees" for use of trade routes or shipping ports or "war booty" from their conquered foes? They in turn minted coins worth less than what was "received" and since they were the power in the area, those coins had to be accepted for payment. Has anything really changed?

[JDPriestly]

4. So how else would you organize commerce?

Coins were developed very early in civilization. The fact that they were made of metal is irrelevant. Value is measured by what a capable buyer in good faith is willing to pay for a product from a seller in good faith. Whether the payment is in corn cobs or physical labor or paper money or gold, it is the agreement to exchange one commodity for another or one action for another that determines the value.

Our Constitution grants to Congress the power to coin money.

This video is based on the misconception that money is something finite. It is only as finite as the commerce within which it is exchanged. That is my understanding, but I am not an economist.

This video, however, is based on false assumptions and unclear thinking in my opinion.

[D Gary Grady]

5. Even sillier than you suggest

The video seems aimed at those with little knowledge of economics or math. For example, the fact that one pays mainly interest in the early years of an installment loan isn't something structured by the bank; it's simple arithmetic: Interest is based on outstanding principal, so *of course* interest payments are higher until you've paid down enough principal. It takes longer to explain, but the creation of money by the banking system is an inherent property of banking. Limiting lending to a multiple of cash reserves is a restraint on that, not something that enables it. (See any decent text on the economics of banking.)

I have plenty of reservations about the Federal Reserve, but this video is crackpot nonsense rather than substance.

[JDPriestly]

9. I also have reservations about the Federal Reserve. The Constitution authorizes Congress

to coin our money, etc., and I think Congress should take up that responsibility with regard to determining or at least better overseeing the Fed in determining and issuing our money supply.

[Mr_Jefferson_24]

6. It seems some are still struggling with...

... the concepts being discussed in the OP. Our "money as debt" imposed monetary system is a crooked Ponzi scheme of usury controlled by an elite group of criminals "banksters" which enslaves ALL of us. Here's a more slow paced, in depth, animated treatment for those still having difficulty understanding -- good luck, and thank you for your responses:

[wildbilln864]

7. indeed some will deny to the bitter end.

Thank you for posting this and the main OP video.

[Mr_Jefferson_24]

8. You're very welcome Wildbill.

[miamipilot]

10. I Suppose Thomas Jefferson Was A Crackpot Too?

I don't think you understand the true nature of the Federal Reserve monetary banking system. Thomas Jefferson was concise in his early warnings to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."

The current Central-bank controlled fractional reserve and its associated fiat-based monetary system is simply not sustainable and we will find this played out sooner or later as indicated in Thom Hartman's book "The Crash of 2016".

[miamipilot]

11. Thankyou Mr. Jefferson 24

There are others in this forum who get it as well, including one of our founding fathers, Thomas Jefferson. Support the proper development and implementation of crypto currencies.

[Mr_Jefferson_24]

12. You're very welcome Miamipilot.

[snappyturtle]

14. K&R nt

[wildbilln864]

15. kick for more exposure. n/t

[Tobin S.]

16. Viva La Revolucion!