As the time draws ever nearer to a majority wanting change, we need a new monetary system in theory.
There are many names for the present monetary system, from neo this to FIAT that, in truth though it is purely theft and enslavement by design.
Banking has been one of my favourite subjects over the years, due to the fact I know the characters inside, I have had these conmen in my close associate circles in the past, and not by accident. If you want to know how a system works, there is no better person to ask than a high ranking banker.
Owning my own companies before draws these people to you, so does having an older brother that worked in the London stock exchange, and that I certainly did have, a brother who also socialised with me at night, down our local bars. We were banker magnets.
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Henry Ford.
Funny.
I was having dinner with my bro one night, and one of his banker buddies named Charles something or other strolled over, and perched his arrogant arse on a seat, he had no problem interrupting our meal, that was the way Charles was & is.
I poured our portly banker a glass of wine, and plied him full with almost a bottle of the stuff, I wanted old Charlie boy to loosen up, and sing like a canary about banking - he did not let me down.
I asked him to explain where the money comes from, and why governments print it and want it back. Old Charlie was not shy to state as fact, we print it from thin air, and add debt to it, there is never enough money in the system to cover the debt, as every time we print more, we add more debt. Regards to the government he stated as fact, that governments have no interest in controlling the money, they want control of the people instead, and by everyone owing debt and tax, everyone has to find a way to pay it back. Old Charlie was laughing in my face.
Gold standard.
Most people will know, though I will take no chances anyway, that money used to be tied to the gold standard, so you could take back a bank note, and exchange it directly for the equivalent in gold.
https://www.thebalance.com/what-is-the-history-of-the-gold-standard-3306136
That was replaced with this FIAT system we have now, printing it from thin air, or counterfeiting more like. I have a short video I would like interested parties to watch. It is only 2 minutes long.
Canada.
Is a prime example of how to do banking, well it was anyway, before good ole Justin's dad sold the nation out to the IMF (international monetary fund). They had virtually no debt in Canada from 1934 until 1974. It was a flat line of around 4%.
“Once a nation parts with the control of its currency and credit, it matters not who makes the nation’s laws. Usury, once in control, will wreck any nation.” -- William Lyon Mackenzie King, prime minister of Canada, 1935.
How to.
I do not think it is a matter of not printing money, it is more of a matter who prints it, a bank for the people, owned by the people, that benefits all people, is a bank worth having, in my opinion, you may feel different though. I would propose this bank pays a % of all profits to all citizens, so the more it makes, the more is shared, this would get rid of the predatory banking we have at present.
In my mind all banks should be owned by every citizen of each country, the government should also have control over it, not like it is now. If they did there would be zero need to tax people, as they could print as much as they liked anyway.
A welfare state would also then not be required, as everyone would get some money from their share in the banks, I would go 1 step further and say all corporations, instead of being taxed, should also give shares away to every citizen it employs, and even ones it does not, then any lay off from said corporation, would not require government welfare, as the person being laid off has shares and can receive a yearly wage for life. Or simply sell the shares to survive.
Here is another idea, not mine, though it is feasible.
Politicians often like to point out that there is no “magic money tree”. But that raises the question, where does money actually come from? The answer is more complicated than many people realise.
If you listened to some government ministers, you might assume that there’s a fixed amount of money in the economy, or that the amount is strictly controlled by the Bank of England.
But in fact, money is being created out of thin air all the time. And this process has hugely important implications for issues like housing, inequality and the environment.
Most of the money we use comes in digital form, as the numbers we see on our bank statements. This money is created by private banks like HSBC and Natwest when they make loans. They create it by simply typing numbers into a computer – some might call this magic!
Sound implausible? You don’t have to take our word for it – the Bank of England itself has confirmed that “whenever a bank makes a loan, it creates a deposit in the borrower’s bank account, thereby creating new money.”
Unfortunately, banks direct most of their lending towards property and financial speculation, which pushes up house prices and makes financial crises more likely. Banks prefer lending to the ‘financial’ economy than the ‘real’ economy, where most ordinary people would see the benefit. This means they do a bad job of lending to businesses which create jobs and grow the economy in a sustainable way.
And because commercial banks were slow to start lending again after the 2008 crisis, the Bank of England stepped in with its own money creation programme called quantitative easing. It’s chosen to pump this new money into the financial sector, which is pushing up the value of assets like houses, shares, and corporate bonds.
This policy has done very little for ordinary people, but the Bank of England’s own research has shown that quantitative easing made the richest 5% over £128,000 richer. So at a time when politicians are using the absence of a “magic money tree” to justify austerity, the Bank of England policies are enriching a wealthy few.
All of this exposes how dysfunctional our money and banking system is. But we know it doesn’t have to be this way. We can reform the system so that it supports a fairer and more sustainable economy.
Instead of the Bank of England pumping new money into financial markets through quantitative easing, it should be spent via the government into infrastructure, green technology, or as a cash transfer to help households pay off their debts and improve their finances.
And we need to transform our banking system so that banks lend money to support investment and jobs in the real economy. This means having a more diverse range of banks and government policies that encourage lending for productive purposes.
I honestly have no idea why I used the above picture other than I liked it.
It does though reflect the current monetary system, foggy and confusing, it does not have to be this way, it can benefit all, not just the "few" and we have to make it so, we are the knights in shinning armour, we can save us, we do not need anyone to do it for us, I am ready, if you are.
Deliberators verdict = It is so close I can taste it, freedom for all.
Deliberator = Definition of deliberator
plural -s
: one that deliberates
images courtesy of pixabay.
This post and the resulting conversation is just beautiful. So many good ideas and perspectives just jumping around on a trampoline together. Why is it so hard for most people to have productive conversations about things that matter like this? Is it really just cognitive dissonance and a life of indoctrination? Well, i guess maybe it is. I think the gift economy is a great goal, the amazing benefits of competition vs cooperation has been one of societys greatest and most succesful mindfucks imho. However, getting large groups of people to convert to that way of life does seem challenging...
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I love the way you came at this, I am not going to do quotes, though I like your style, and this whole post was to draw out differing opinions, like a think tank on the blockchain, we can all get to where we want to get to, if we continue down this route, and you my friend, just added value to this topic, thank you. Have a great week.
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you too my friend. i'll see you around the blockchain ;)
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Short circuit the bankster dystopia, keep working, stop paying.
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Agreed, though we still need a whole new banking system, regardless.
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Well, unless we refuse to play the money game at all.
It puts the havenots at the mercy of the haves, after all.
Everybody should get food, clothing and shelter just for being humans.
They can be socialized to feel a debt for this that causes them to give back more than they consume, increasing leisure for us all.
The paradigm shift alters more than just changing economics, it changes how we approach life, too.
In three generations the greedy fuck's genetics cease to exist.
The default will be loving and caring rather than get all i can any way i can.
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We still have to reform banking, you know this better than me, read the comment from @bashadow above or below, they are crippling you, we need to cripple them, and by working and still getting wages paid into these freak institutions, not working 1 day a week, not paying tax, matters not, the bankers still have our/your money, wage wars, fund both sides, we need constructive plans and ideas now, 1 day a week boycotts are not good enough for me.
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Dont reform banking, make it obsolete.
Crypto is doing that, and in turn it will have to be done with crypto, too.
The underlying problem is that crapitalism sucks regardless of the banking/monetary system or who is in charge of whatever type of markets.
The havenots are slaves of the haves.
Better to adopt anarcho-communism.
https://theanarchistlibrary.org/library/alexander-berkman-what-is-communist-anarchism
And before anybody lets the c word trigger an emotional response this should be read, too.
http://theanarchistlibrary.org/library/emma-goldman-there-is-no-communism-in-russia
And, we can do it on any given tuesday by simply continuing to do the work while refusing to pay the crapitalusts for the privilege of doing all the work.
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I am not sure still you read my whole article, through fresh eyes, this is not about my opinion or yours, fresh eyes bro, take a read again, a bank owned by all of us, not by them.
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Lol, not interested in anything that continues this paradigm, or half measures ending it.
I get that you want to make things better through tweaks to the most egregious problems, but i want to smash the problems in one fell swoop and not take a decade to find out that my tweaks really didnt change anything.
That the new rules only required some adjustments to circumvent.
That the new boss is the same as the old boss.
No matter who owns the bank, the bank still owns you, too.
Dont pay your mortgage? Out on your ass.
Want a new used car? Jump through hoops, miss one hoop, lose your new used car, and all the money you payed.
No, id rather explain why what i offer is better than any tweaks to the system we have.
It comes with free stuff and less years working in the mines.
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If we go full on cryptos, do yo have any idea what you are signing up to? do you know how hard it is to even cash 1 crypto now, yes you do, you exchange 1 here, you send it there, then you change it for this, then send it to a bank, now you can blame that bank all you want, it took 3 steps before that to get it to the robbing bank, when we go full on this present crypto craze, your credit can and will be turned off, with a bank owned by me and you it can not, I will not champion my own downfall, no matter who tells me it is right.
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Hmmm , i did , stop paying , now my wages are taken by law directly from my employer .
Leaving me broke and going down fast . I had some hiyps running but the combined governments cryptosweep from last week took it all . I mean , i know the hyips will not last , but now there all gone at ones . Fuck ,i have vacation the next 3 weeks , i think i a gonna go rob a bank and die in a blaze of glory.
If i do , remember me as a victim of the elite banking system .
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Do what?
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High profit invest sites like BTCRush and many others , i invested about 25euro a month for the last year , a view beers a month , total value 3500 euro profit spread out over 5 programs . They all where ddos't and demonized as scam on all social media . I am not mad about my loss , i am mad about the elite bankers taking down these programs while they run walstreet tax free .
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Rule by force is the disease, who and how are symptoms.
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Fiat money and cryptocoin's are both created fiction , forced upon me to sustain my existence .
A world free of that is it i would prefer .
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Keep working, stop paying.
Ask your friends to stop accepting rule by force.
Its starts with us.
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Sadly not paying tax is a bigger crime as manslaughter to the government that rules here .
And there is no spirit among the masses to take back control .
There is no us in the place i live . Blindly they follow bogus laws that demonize my form of existence .
They just nod there head in consent when i hang from a tree . i am not a Pharisee , but the road ahead surely looks a damn lot like one of them ones took .
Us my friend is to divided and far apart these days .
My small axe is perfect for big tree's , as the mountain i face now will need a different tool .
Peace to all.
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Credit unions use to be an alternative to banks in America, but not so much anymore. They over loan, at least so far they have not got to far into the overcharging for services like banks yet, but I have noticed that is slowly changing also.
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We had some of them in the UK also, they seemed to disappear faster than they arrived, the banks bought them all up, now the UK and Poland is left with negative banking, as is most of the EU, you pay for them to keep your money every month, you get 0% interest, so in effect bank accounts are now minus % every month, and only going to get worse.
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And no doubt, like in America, you are only allowed 3 electronic transfers a month free then we charge, you are only allowed to make six withdrawals a month, and no more, you are only allowed to withdraw this amount and no more per transaction. If you use our walk up teller we are going to charge a fee, if you use our telephone service we are going to charge a fee, if you use the ATM we are going to charge a fee. So far my Credit Union does not charge a walk-up drive up or ATM fee yet. They do charge for more than the 3 electronic transfers a month, and the 6 cash withdrawals are by law, not their policy but banking policy laws.
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Oh my goodness, you have it worse than we, although my wife has a account, that charges her over $1 just to view her balance, at any ATM, robbing bastards the lot of them, be gone with them all, I say.
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Curated for #informationwar (by @wakeupnd)
Relevance: Sharing the truth.
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Yes! More people need to wake up to these criminals controlling our lives. I had to borrow from the bank to buy a small business, and in order not to struggle more than necessary with monthly repayments, the period of repayment is the maximum, which means I'll be paying back double the original loan due to the interest rate. And why!!! As you say, they just print it from thin air and add debt to it.
I wish I hadn't taken this loan ..... too late she cried!
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You took that loan, they created 10 X that money, and did it all over again, it does not have to be this way, and by the time I leave this rock, it is not going to be this way, 1 way or another. I aim to fix this shit. Excuse my language.
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I would love to fix this shit, it's the most frustrating and infuriating of all the crimes, this financial hold on people. I just don't know where to start, and how to free myself from it.
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An interesting study on economics could be had looking at Germany in the years leading up to WW2. They went from an enslaved country by the Versailles treaty (that ensured there was to be another war) that had hyperinflation to a country that the citizens were the beneficiaries.
Of course, in a one world scenario with no borders, I am unsure of the feasibility as those in far reaches of the world could care less about what goes on locally here.
A side gripe of mine are those who think mistakenly that crypto in its current state somehow is freeing us from the bankers. As long as crypto is not used as cash and is tied to the bankers fiat, there is no freedom. I believe (and posted on this a couple months ago) that the massive pump on Bitcoin last winter was caused by bankers creating fake money, pumping it into crypto, then selling off once enough bought into the hype. Leaving many holding overinflated coins.
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I agree entirely, especially the latter, as the Winklevoss twins manipulate bitcoin as they bought millions of them, they only need to keep sending them to each other to increase the price, bankers encouraged people to invest in btc via always mentioning btc via their prestitute agencies, then they sold them off, robbing the poor as they tend to do with shares, add in the fact that btc is required to even cash sbd or steem, and most other cryptos, and you have the perfect strangle hold.
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Great article, @deliberator. Your level of knowledge and depth of your articles is outstanding.
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I take that as a massive compliment, thank you very kindly, you just made my night, along with a few other people.
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Fortunately, we already have such a thing in place.
They are called crypto currencies and the blockchain.
They are a bank, by and for the people.
Reddcoin actually pays all the people who hold their coins and keeps their wallets open to handle all the transactions. The only thing missing is for stores to start accepting it. And that will be far easier than these CC machines.
BTW, if you actually started your own bank, you do not have automatic access to the swift system or CC or debit cards. Unless you bow before the IMF, the money in your bank is not allowed into any of their banks.
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The cryptos at the moment seem to be in the control of the same vile bankers, I respect your opinion, and your thoughts, now can we work on the "how" to rid ourselves of the IMF and get cryptos free from "them"
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Yep, don't invest in bitcoin.
Look into projects. Bitcoin has forked mostly to get away from IMF control.
Things like Litecoin and BitcoinCash are going to be great decentralized coins.
Veritasium is going to change everything about wall street. (probably after it implodes)
But, seriously, even bitcoin is a HUGE step up. Even if it was run by the banks as the banks can't print more bitcoin.
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I love your enthusiasm, and hope you are right, time will tell, and I am an old fart anyway, I hope I get to see the epic changes, I can smell them, I would love to see them.
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Governments owning anything is a disaster. Always is and always will be. Government is run by human beings and those in control are not Saints. They have the same basic desires of all humans (largely to improve their own standard of living). Their version of acquiring wealth through taxation and wealth redistribution hurts the rest of us.
Corporations have had their problems also but at least we as consumers can choose those we wish to support and are not forced to buy their products.
The correct solution is decentralized money either in the current blockchain form or some superior form down the road.
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I wrote a book regards to government being everyone, and everyone having responsibility, then I realised how few would actually care, or want to have a say, and there in lays the problem, the majority seem happy with masters, one day maybe the majority will be willing to put some effort in, and make their own crypto coins, maybe one day, thanks for a top class comment, have a great week.
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First challenge of successful Author is finding a profitable niche that people actually want to read.
Best of luck.
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Indeed, have a great week.
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