Free Market Not Failing
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The free market did not fail. Neither is the free market in the process of failing. This economic collapse is simply because we are not, and were not, operating in a free market system. Summarily, we are not free.
In 1913 our government allowed a handful of banks to own, and thus control, the Federal Reserve. These private banks determine how quickly currency is created and injected into the economy and how quickly currency is removed. They also determine by whom and on what terms the money is received. Put another way, J.P. Morgan Chase, Citibank, and their ilk, control whether the economy is booming, flat, or in recession. They also determine what segment of society becomes economically “privileged”.
The supply of Federal Reserve notes (United States dollars) is controlled by only a few private banks. When people choose to use something other than Federal Reserve notes, the institution of government will be used to persecute them. People are persecuted even if they try to use something as sound and time-honored as gold and silver, and both parties in the transaction are in agreement. The market is not free. It can best be described as authoritative and coercive.
What is happening today is entirely predictable. Consider this quote from Thomas Jefferson “If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”
To remedy the problem, we need to wrest back from these bankers the power to force the use of their money. While the 1776 American Revolution proved it can be done, it is no small feat.
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KJDYATTA, this is an excellent summary of what’s going on right now. We have a system built on deception and a media that seeks to deceive us about that deception. You’re right to say that we’re not free.
You are very right. It is evident that too few banks hold and control most of the money that American’s possess. This is a monopoly on our nation’s wealth and a very bad situation for all of us to be in. Whether it was greed or a coordinated effort to humble Americans, this predicament is a direct cause of the current state of the economy. Its amazing how right Jefferson was all those years ago in the early days of the United States.
Good point Jeff, Jefferson was right precisely because he had experience with the deception of the central ‘reserve’ banking system of Europe through the tyranny of the British Empire.
Fractional reserving is very abusive too
yes, fractional reserving is one of the abusive tools of the abusive federal reserve which is owned by abusive corporations which are in turn owned by abusive people. I totally agree.
Also look at honorable man like Abraham Lincoln who fought the fed and also Andrew Jackson who “killed the bank”. It is inspiring to understand what they did to help break these people down. Without debt money can not be created by these bankers but with the consent and the good credit of americans paper money can work as long as it does not bear debt and interest in its usage.
legalizing competition is the smartest thing to do
I like it. Every state should have their own bank again. Interstate commerce should always involve the swapping of different types of currency. Moving would be so easy. You just have to sit on the state border and hope people would swap your NY money for their CT money. And if you couldn't, well, you can't move.
I like it. Every state should have their own bank again. Interstate commerce should always involve the swapping of different types of currency. Moving would be so easy. You just have to sit on the state border and hope people would swap your NY money for their CT money. And if you couldn't, well, you can't move.
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