Amen!

Just found it! Since you started this discussion I was trying to relocate this 30 minutes youtube video that explains very simply how the current economic system works : From the Government, to US treasury, to Banks, to Federal Reserve, IOUs are exchanged, Currencies is created, Governement spends these, the spending of these are then redeposit into banks to create fractional reserve lending(creating more IOUs), then portion of these deposit are relend multiple times magnifying the currency exponentially, then we work for these numbers and are taxed, we pay tax to the IRS who turn these numbers to the US Treasury that pays the principle and interest on Bonds to the Federal Reserve, and then the stockholders of the Federal Reserve takes their 6% cut.

The current economic system is purposely complex so the people will not detect the scam. So to have it explain like this video does well, helps us understand how it works and see the scam more clearly.

If you are pressed with time there's a recap of the system from the 18:20 to 22 min mark.


The Biggest Scam In The History Of Mankind - Who Owns The Federal Reserve? Hidden Secrets of Money 4

I was familiar with most of this already. My only real issue with his position is the importance of gold and silver. I believe our cash value should be supported by the value of our labor and accomplishments.

Except for that, I found that video to be excellent.

I said, "work".
You said, "I believe our cash value should be supported by the value of our labor and accomplishments."

Is that the same thing?


Is it true you can "pay down or pay off any debt" by righteousness? Was Israel in debt? Are these questions and comments even related? Mark was addressing the thread title, but I got the impression you thought it answered the above question. Am I wrong.

(bold emphasis mine)

I don't know if you mean it quite like I do?

I mean the value of our dollar, our currency, or this one currency anyway, should be based on the combined labor and achievements of our entire society! Each person and family have their own local application as well, but, I was talking about the value of the dollar as it applies to the nation as a whole.

Did you mean it that way as well?

No. And yes. The reason our nation is in debt is because our nation is made up of individuals. Just like individuals cannot borrow their way out of debt, nations cannot either.

I'm not sure what you mean by "should be based on the combined labor and achievements of our entire society!". That sounds a little like socialism.

The problem with individuals, local government, state government, our nation is the attitude of "I can't afford it now, but I want it now, I'll pay for it later".

(bold emphasis mine)

What do you mean by socialism? I attribute socialism to the economy of Russia and the Soviet Union.

Socialism.
Promoted: Everyone shares equally for everyone's benefit.
Reality: Everyone pays for the benefit of the few. And certain people on the "don't like list" pays more.

= Russia and the Soviet Union.

No. That is not at all what I am saying.

kland wrote;

"Just like individuals cannot borrow their way out of debt, nations cannot either." (bold emphasis mine)

I agree completely that you can't borrow your way out of debt. So, can someone pay down and pay off that debt? Of course! But, what does that take? Hard currency or cash.

I can't see it any other way.