by Steven Kelso
This is my primary political issue. All other crises stem from the centripetal velocity of debt-based currencies and systemic usury.
The entire planet has been under the control of a global financial dictatorship for quite some time, now. Most people don’t recognize it, because they are like a fish in water, so immersed in the thing so as not to recognize it. Chris Martenson, Damon Vrabel, and Mike Maloney have done excellent videos explaining the nature of the bond market. In fact, there’s no shortage of information on how money works, yet people still remain ignorant.
If you’ve read my definitions of western Authoritarianism (the store is always open), then you’ll respect why I don’t have much hope for organized resistance.
The average American (and most first-worlders) could not imagine life without the following:
- Bank Account
- Credit Card
- Mobile Phone
- Free/Pay Television (including Netflix, et al)
- Internet
- Online Retailers
- Social Media
All of the above are luxuries. If you don’t think so, you’re the proverbial fish in water. As these are luxuries, you should be able to consciously walk away from them. I use cash for every IRL purchase. But even if I was a mattress stuffer, I’d still be a slave to the bond market.
The Bitcoin crowd doesn’t get it, either, in my opinion. I’ve asked how they use it without access to energy? Crickets. I’ve asked how it avoids the systemic usury and centripetal velocity? Again, crickets. Guess what? Nunya Bitcoin enthusiasts have as much as the whales do (which are now countries, btw).
So what is money? North Dakota has the only state-owned bank in the U.S. This enables them to control interest rates at the state level, so they can run counter-cyclical policies accordingly. This is how they were the only state in the union still in the black during the 2008 subprime sabotage. And people may wryly point at the oil production there, but in truth, the farmers kept their farms because of the policies of a socialist bank. Cue bogeyman.
Local Communities also have local currencies, which is technically unconstitutional. These currencies may only be spent in a specific place, but systems like these, again must preclude global industrial civilization. Those gigantic human endeavors aren’t being paid for with Mountain Hours.
Then we have the states just doing what the Fed does. The Minnesota Transportation Act was a law to simply print money to repair their state’s roads and infrastructure. Novel concept for some. Not sure what the ultimate fate of this bill was.
Money is an abstract utility. There are concepts of currency like positive money and modern monetary theory (which, nobody on the internet understands, btw) that attempt to understand money in a different way. Just to clarify the earlier comment, the Fed’s QE4EVA approach is not MMT. Think the Minnesota Transportation Act: Printing money and building roads with it, instead of WMDs and wars. You have to create physical, tangible wealth from the money printed.
What are your thoughts on money?