Sunday, January 28, 2007

Sit back and conspire…

Fiat Empire - A Closer Look at the Federal Reserve

Hour-long programme about the Fed, fiat currency, and the US constitution. Of no relevance to us? Think again. Some interesting contributions, particularly from congressman Ron Paul. The film is spoilt, however, by the appearance of vain bogeyman, Edward Griffin.

Posted by harold @ 09:40 AM (2909 views)
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One thought on “Sit back and conspire…

  • I agree with the sentiment but it isn’t just a question of if there is enough gold in the world. Someone owns that gold and the minute we return to it, they will be rich at all of our expense. For that reason, it isn’t practical. Much better to establish true independence (if there is such a thing) so that the government can’t print all the money it likes.

    Apart from the devaluation of money, the economy is still based on the trade of various things like food, and clothing. These goods are still produced no matter how much paper is in supply. It is this fact that gives me a belief that the world will survive tomorrow. (Now someone will bring up the massive migration of industries to other countries) So the trick is to understand that money is backed by nothing, and have investments in things that will retain value. Even gold isn’t necessarily inflation free.

    During the 1800s or so (my dates are terrible) England had an industrial revolution. Goods were produced in greater quantity for the betterment of all. Meanwhile, Spain was off conquering the new world and bringing boatloads of gold back. Spain had loads of gold chasing few goods, so they ended up with loads of inflation. England went on to establish an empire.

    Also during the American gold rush, the miners would think their dreams had come true when they struck it rich by digging in the mud all day. Only to find that when they got back to town, the innkeeper and the prostitute, who had spent the day serving drinks and laying on their backs respectively, had seen them coming and raised prices.

    A good economy is about productivity, not paper money. Even the GNP is a poor measure, since it is polluted by the government employing so called ‘non-jobs’. Our technological level is such that there is no reason for one half of the family to stay home and look after the kids. Take food for example. It takes 2% of the population to produce enough food to feed everyone. So why aren’t the rest of us sitting in the garden of eden, smoking shisha pipes (and since we have brith control) having the time of our lives?

    I think its because of our interpretation of society. We start by having a problem with our neighbours, so we invent laws. Pretty soon the guys who are good at this sort of thing notice that the more unintelligible the laws are the more they are needed, so they can be richer than everyone else. Unfortunately for them, everyone else has a similar trick; from the stock broker, to the advertising people (who needs the damn adds anyway?) to the journalists (what ever happened to bird flu?) So the lawyers, who used to have a fancy trick, aren’t rich anymore, cause they need to pay the stock broker, and the advertising person, etc, etc for all their fancy worthless tricks.

    Thats where the other 98% of the people are: trying to make enough money to have a little more food than the rest.

    Time to go live on a farm methinks!!!

    Umm, seemed to have gone a little off topic….

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