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| Joined: | Mon Nov 21st, 2005 |
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by Chris Floyd
Goading Xerxes: A New Tactical Twist in the Coming War on Iran
An American strike on Iran is coming closer. It probably won't take place in the next few weeks, because Bush is on vacation and will not want to be disturbed. And it probably won't take the form that many have expected (including this writer).
Just for your information:
The effort to injure innocent Iranians is motivated by the power struggle over monopoly control of currency.
Who has the power to print legal money?
If you can't understand this yet, then, think about your own power to print money and imagine having the power to print money on a global scale.
Is that a power worth killing innocent people over?
Case in point:
http://www.lewrockwell.com/orig8/wallach1.html
Market volatility in recent days prompts one to ask, "Just what is going on here?"
The quick answer is that Federal Reserve manipulation of the money supply causes these crisis periods when previously available Fed money is no longer available.
My rough calculation suggests that over the last two days the Federal Reserve has pumped in enough new reserves to increase the money supply by somewhere between 10% and 15%.
The quotes above come from an "Austrian Economics" professor. This type of professor involves two main camps. One camp intends to fraud and force their agenda upon everyone else and the other camp intends to accurately identify the facts and utilize the facts in a manner that can produce prosperity for posterity. If you don’t know which camp the professor is in, then, it may be a good idea to find out.
I’ll send him an e-mail linking this page.
In an effort to help identify the split in 'camps' among the Austrian Economists I can link one such explanation:
http://www.power-independence.com/view_topic.php?id=123&forum_id=3&highlight=ludwig+
And this:
http://www.lewrockwell.com/north/north512.html
WHAT IS THE SOLUTION?
In theory, there are two possible solutions, neither of which has any possibility of being implemented in my lifetime or yours.
One solution is free banking. This was Ludwig von Mises’ suggestion. There would be no bank regulation, no central bank monopolies, no bank licensing, and no legal barriers to entry. Let the most efficient banks win! In other words, the solution is a free market in money.
Another solution is 100% reserve banking. Banks would not be allowed to issue more receipts for gold or silver than they have on deposit. Anything else is fraud. There would be regulation and supervision to make sure deposits matched loans. This was Murray Rothbard’s solution. The question is: Regulation by whom? With what authority?
There would be no government-issued money. There would be no government mint. There would be no legal tender laws. There would be no barriers to entry into coin production.
There would also be no free services. There is no such thing as a free lunch.
Anything other than free banking or 100% reserve banking is a pseudo-gold standard or silver standard. It is just one more invitation to confiscation.
There is no organized movement today to establish either free banking or 100% reserve banking. There has never been a movement to impose 100% reserve banking. It has been well over a century since a handful of economists and pamphlet writers recommended free banking.
Anyone who tells you that it would be easy to switch over to a gold standard has either no understanding of the politics of money and banking or else has been smoking some funny-smelling leaves.
To switch by official decree to a non-governmental banking system would require the wholehearted co-operation of central bankers, commercial bankers, politicians, academic economists, and political parties, all of which have a vested interest in controlling the money supply at the expense of the public. They fear above all the depositors’ ability to bring down the entire international cartel through bank runs.
These bank runs would create massive deflation, international depression, and the collapse of the division of labor.
This:
One solution is free banking.
The above is an example of currency. The sentence above is currently being re-issued, re-published, and currently transferring from the source of the issue to the new receiver (reader) of the currency. What does that currency say – exactly?
That sentence says something exact. It says something specific. It contains no falsehood whatsoever. There isn’t any room for misunderstanding.
NO FALSEHOOD.
Compare that to this:
Another solution is 100% reserve banking.
To each their own. The reader will choose either A or B.
Again:
This is choice A:
One solution is free banking.
This is choice B:
Another solution is 100% reserve banking.
To each their own and beauty is in the eye of the beholder.
Make no mistake concerning my 'eye', my 'own', and into which 'camp' I belong.
The solution to the problem is FREE BANKING.
The problem is choice B.
Make no mistake. If you choose A you allow B. If you choose B, and get this straight, you fraud and force A into a STATE of discredit; you "outlaw" choice A.
If you choose A, then, B can compete JUST like any other free bank. If you choose B, then, you set in motion the force required to destroy choice A.
Is this not simple?
Last edited on Sun Aug 12th, 2007 01:53 pm by Joe Kelley