Posts tagged fiat
A simplified explanation of the US monetary system
A good review and explanation of the monetary system, by way of video, that should be easy to understand and be shared. I first saw this posted by Nick on againstcronycapitalism.org and finally had a chance to watch the video. Why all the “End the Fed” rallies?, this may explain. The video below was published by whygoldandsilver.
The best, simplest, explanation of the US monetary system (debt, currency, money, taxes, what’s really going on) that I’ve ever seen. An important video.
Many people are mystified by the kids at the Ron Paul rallies screaming “End the Fed!”
They ask themselves, “Why should we end the Federal Reserve? The Fed helps maintain economic stability right? Every country has to have a central bank. These “End the Fed” kids are nothing but “Paulbots.” The people on CNBC and Bloomberg tell me that the Fed acts in my best interest. I think the people on Bloomberg and CNBC ought to know what’s right for me and my money. Harry Reid is right. Those hard money people and kids at the Ron Paul speeches are nothing but a bunch of anarchists!”
But the main reason many people feel this way is because they fundamentally don’t understand what the “End the Fed” people are really saying and why they are saying it.
Monetary policy, QE, bond buying, bond issuance, taxes, the Treasury, fractional reserve banking, interest rates, the money supply, all seem maddeningly opaque. Most people just give up. If they try to understand what’s going on at all. And this is understandable. Monetary policy is a challenging subject. But it is not cosmological physics.
If only someone were to explain things in an understandable, straightforward way.
Well you’re in luck.
The below video does an excellent job of explaining the bulk of American monetary policy in simple terms. The graphics and language used are clear and easily understood. Jargon is kept to a minimum.
Invest 1/2 hour in the video. You will see how and why the Federal Reserve is at the very heart of our current crony capitalist economy. It will be well worth your time.
By Tyler Durden
In just under 30 minutes, Peter Schiff and Doug Casey muse on many facets of the crumbling edifice of the status quo that is our current world.
From Gold’s relatively imminent rise to $5,000 and beyond, to investor ignorance of reality, Casey & Schiff swing from discussions of the US as political entity going forward to ‘escape from America’ plans for personal and wealth assets, and the realization that the biggest casualty (of US indebtedness), aside from individual liberty, is the value of the dollar – as taxing the middle class is unpopular with both parties – leaving only one route for the government – the inflation tax. Owning gold, silver, and foreign assets is preferred and while the rest of the world is also printing, the US is likely to beat them all.
People “are clueless with respect to the true state of the global economy,” with regard to inflation, fiat currencies, and specifically what will happen to the dollar. The conversation is wide-ranging and absolutely must-see as they remind market-watchers that “the whole thing is artificial,” as you can’t just keep printing money and monetizing debt without the dollar imploding with monetary policy descending (along with its trillion dollar coin) into ‘Three Stooges’ comedy.
The conversation weaves to some endgame discussions which bring Peter to discuss his father, who he sees as a political prisoner, and his views on the future…
“the biggest change that is coming to the global economy is a realignment of global living standards.”
There is something here for everyone…
The topic of inflation seems to be a difficult one for many to grasp. Many do not follow economic cycles, rising market booms and the predictable busts that follow, fiat currency and the constant devaluation of the US dollar by the privately owned Federal Reserve banking cartel. Understood, as we are too busy to deal with the financial world while busy working 10 hours a day for 7 hours of wage, taking care of a family, keeping the car running, walking the dog and finding the almighty TV remote hidden behind the jumbo sized box of Twinkies (now a collectors item!).
One simple to understand example should at least cover the basics of inflation. Remember, we buy the stuff we need with US printed dollars, which is physically worth nothing, but, okay, backing up. If a farmer grew apples and you fixed cars you could trade your services for the farmers goods, barter, but, backing up.
Bottom line, if you used cats as currency and wanted to purchase a loaf of bread yesterday and then wanted to purchase another loaf tomorrow this is how much cat you would need.
Disclaimer: Prices vary per market location. Cat tolerances are ± 0.5″ length, ± 0.25″ width, adjusted for camera angle and relative humidity per photo. Past drought conditions not factored in for potential wheat damage AFFECTING BREAD PRICES, etc.
Thanks to @Snarky_B
Published on Nov 11, 2012 by LibertyAus
Government intervention – not the rigours of the free market – is the cause of financial mayhem.
Chris Leithner speaking at the Festival of Dangerous Ideas (http://fodi.sydneyoperahouse.com/) on Letting Banks Fail, and in particular how Central Banks already have.
Whereby government intervention – not the rigours of the free market – is the cause of the financial mayhem on Wall Street that becomes economic crises on Main Street. The Global Financial Crisis shows that it is not ‘capitalism’ (Karl Marx’s insult of choice) or ‘extreme capitalism (Kevin Rudd’s) that has failed but the ‘mixed economy’. To stop these crises, we need to free the market and allow it to do its job. In a free society, no bank is so big or important that we shouldn’t let it fail.
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This is my daughter. She gave this speech at a businees meeting in front of 600 people. Her eyes have been opened to a scam that is being perpetrated upon Canadians and the rest of the world.
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Please also see these great resources for more information and people who are trying their best to enact the necessary change in our country and the world:
Documentary (really good)
Bill Abram;’s mini documentary (really good)
The Case against the Bank of Canada (lawsuit to have the BOC reinstated as our lender)
Torie’s Interview with Dan Dicks from Press For Truth:
Michael Badnarik spoke to NE Tarrant Tea Party on the Federal Reserve System and fiat money.
G Edward Griffin, author of “The Creature From Jekyll Island,” is our guest this week on http://www.FinancialSurvivalRadio.com to talk about the corrupt origins of the Federal Reserve, why the US Dollar is just “one big scam,” and the 3 things you can do right now to prepare for the coming hyperinflation and US Dollar collapse.
To hear the entire show, go to http://www.FinancialSurvivalRadio.com and listen to episode number 12.
Judge Napolitano attacks the wisdom of central banking.
Now more than every we need the Champion of the Constitution that has been trying to defend We The People from the central Banks!
Please visit Ron Paul’s official campaign site by following the link below and donate today!