There are only 2 basic choices for who issues a nation’s money:
1. we the people; or
2. banks.
The second alternative -- believe it or not -- is the case today -- for nearly every nation on earth.
Think about this. Which do you want?
The issuance of the nation's money is the most important power – even the very definition of sovereignty.
• Without it, a nation CANNOT be sovereign.
• Without it, a nation must borrow.
• Without it, a nation must borrow all its money from bankers; and yes, they do charge interest on it.
Remember what Proverbs warns:
”… the borrower is servant to the lender.”
That’s why nations can never get out of debt under this system, because all our money is borrowed from bankers. To reduce the National Debt is to quite literally reduce the national money supply; in other words, create a money shortage. Politicians tend to ignore – or don’t understand - this embarrassing fact.
Governmental “austerity” measures will not work. Why? It’s the interest – the interest on the U.S. National Debt is growing faster than any likely cutbacks in spending. This never-reported fact is what is overwhelming every governmental budget everywhere around the planet. That's why 2011 in the U.S. will be the year of municipal and possibly even the first State bankruptcies in American history. Why? Because as interest rates rise on municipal bonds, interest payments owed by States are going to skyrocket. This is in addition to declining state tax revenues and certain reductions in Federal contributions to state budgets.
In 2011, we will reach the tipping point. Nothing can fix this short of a basic restructuring of our debt-based money system. No More National Debt.
From Bill Still's book page.
Showing posts with label Fractional Reserve Banking. Show all posts
Showing posts with label Fractional Reserve Banking. Show all posts
Wednesday, 30 March 2011
Bill Still's Speech at Bromsgrove 2010
Opening remarks from Bill Still at the Bromsgrove Monetary Reform Conference 29th October 2010.
Wednesday, 17 November 2010
Time for Monopoly Money
The Hayek Lecture at the LSE, where Professor Huerta de Soto shamelessly promoted his books, Socialism, Economic Calculation and Entrepreneurship
and Money, Bank Credit, and Economic Cycles
but told us little we didn’t already know.(Although he did have the good grace to acknowledge to the audience that there was nothing stopping us as a nation from paying off our debts simply by handing back the money we owe, once we had pulled our fingers out and printed it.) Lecture transcript.
and Money, Bank Credit, and Economic Cyclesbut told us little we didn’t already know.(Although he did have the good grace to acknowledge to the audience that there was nothing stopping us as a nation from paying off our debts simply by handing back the money we owe, once we had pulled our fingers out and printed it.) Lecture transcript.Then last week the Channel 4 documentary “Britain’s Trillion Pound Horror Story” about the monstrous size of the national debt, in which I counted four previous Chancellors, none of whom said anything about who has the power to create money in this country. Indeed Geoffrey Howe’s only worthwhile contribution was to claim to have read Adam Fergusson’s book When Money Dies: The Nightmare of the Weimar Hyper-Inflation
. An hour and a half of prime time television which wasted 45 minutes looking at the philanthropic building works of 19th century industrialists in the north east of England. The presenter asked us to marvel at what had been achieved when the cost of the public sector only accounted for around 15% of the national economy. One wonders if the “1947 Town and Country Planning Act” might have been a better choice of subject for this program.
. An hour and a half of prime time television which wasted 45 minutes looking at the philanthropic building works of 19th century industrialists in the north east of England. The presenter asked us to marvel at what had been achieved when the cost of the public sector only accounted for around 15% of the national economy. One wonders if the “1947 Town and Country Planning Act” might have been a better choice of subject for this program. Thursday, 21 October 2010
Money as Debt
Paul Grignon's 47-minute animated presentation of "Money as Debt" tells in very simple and effective graphic terms what money is and how it is being created. It is in 5 YouTube Sections.
Financial Crisis and Economic Recession Lecture
London School of Economics Lecture on Fractional Reserve Banking
Date: Thursday 28 October 2010
Time: 6.30-8pm
Venue: Sheikh Zayed Theatre, New Academic Building
Speaker: Professor Jesús Huerta de Soto
A growing number of people are realising that our current money system, which gives commercial banks a monopoly on the supply of money to the economy and throws much of the population into unnecessary debt, is defective and urgently needs reforming. This was the main plank of my General Election Campaign here in Newbury.
On Thursday 28th October the following lecture is being held at the typically mainstream London School of Economics, and is worth attending if you're in the area. It's free.
Date: Thursday 28 October 2010
Time: 6.30-8pm
Venue: Sheikh Zayed Theatre, New Academic Building
Speaker: Professor Jesús Huerta de Soto
A growing number of people are realising that our current money system, which gives commercial banks a monopoly on the supply of money to the economy and throws much of the population into unnecessary debt, is defective and urgently needs reforming. This was the main plank of my General Election Campaign here in Newbury.
On Thursday 28th October the following lecture is being held at the typically mainstream London School of Economics, and is worth attending if you're in the area. It's free.
Subscribe to:
Posts (Atom)