Stewart is editor at and

Stewart grew up on his family's farm located in NE Ohio's Summit County. In the middle of his last high-school year he asked his parents to give their permission for him to enroll, as a 17 year-old minor, in the US Naval Air Reserves "weekend warrior" O-2 training program at the Akron, Ohio Naval Air Station.

He graduated near the top of Hudson Township's 1951 class of forty-seven students. After spending part of that summer on active training duty, he commuted from home to Kent State University and to NAS Akron. The following summer his Navy Squadron flew an east coast logistical air wing based at Norfolk, VA Naval Air Station. He has fond memories of flying at 17 - 20 years of age in these Navy propeller-driven airplanes: PBY, SNJ, SNB, TBM, and R4D.

The Navy enabled him to transfer to Ohio State University and occupied his time again throughout the following summer. By December of 1955, at which time he earned his Bachelor of Science degree, the war in Korea had ended. More importantly for him, education and developing personal convictions precluded him from pursuing a military career.

He went to work within a few days of graduation, with a "Q" Security Clearance from the Atomic Energy Commission, in a laboratory at Battelle Memorial Institute, within walking distance of the college. An avid reader, by 1960 he no longer considered an academic or military career, nor a lifetime spent working in the confines of a laboratory. He took a job in Ohio with Lever Brothers Company, a large consumer products marketing firm that offered a two-year in-field sales-training program. After the two years he was promoted and transferred to New York City where he eventually participated in the introduction of new products.

He resigned from Lever after six years to triple his income, switching from marketing consumer products to industrial sales. By 1968 he had become one of the nation's top producing truck-body salesmen, selling to major truck-rental companies. After learning the techniques of successful distributor marketing, he moved on to become regional sales manager of a company for a couple of years and then the general sales manager of a division of a publicly traded company. He drove the business into a profitable position within his first full quarter's accounting period.

In 1976 he decided to go into business for himself and to return to his mid-western roots. In the course of a year he built an early Century-21 real estate franchise into the SE Ohio region's leading office in all areas: recruiting, listings, sales, and profit. Bored with that business, he began to study the way that personal financial products were marketed, especially "savings-type" or "money-back" life-insurance. These were financial contracts that he could never fully comprehend.

After sending away for The Consumers Union Guide to Life Insurance and reading it carefully, it became obvious to him that accurate information was needed from other than the industry's trained salesmen and their clever General Agents.

He then studied several books on the subject, including Norman F. Dacey's What's Wrong with Your Life Insurance, G. Scott Reynolds' The Mortality Merchants, the classic chapter #13 on life-insurance in Venita Van Caspel's Money Dynamics, and Randal A. Hendricks definitive study, "A Legal Analysis of the Sale of Life Insurance", [The Houston Law Review 810 (1969)].

He decided to recruit and train a marketing organization that would accurately inform consumers, enabling them to make financial decisions in the interest of their families rather than in those of already financially bloated life-insurance companies.

He met and joined forces with a couple of older highly successful and experienced sales executives, the men who introduced the marketing of mutual funds to the American public. Together, over the next several years, he worked with the progressive insurance companies for which they designed products his own company marketed.

In 1980 he wrote and self-published Financial Recovery. Advertised in full-page ads in "Life Insurance Selling" magazine, where it received a favorable review, thousands of copies were bought by individual agents and agencies across America where it helped to create substantial industry changes.

From 1980 to 1985 he built, owned, and managed a company that became one of the top volume diversified brokerage agencies in America, marketing selected financial products nationally, including tax-deferred single-premium annuities before the tax-law was changed from FIFO to LIFO effective Aug. 14, 1982, and selling attractive unregistered tax-sheltered investments before the IRS eliminated them with TEFRA. Before the personal computer age, he struggled to learn how to program the TI-59 in order to provide responsible agents throughout the country a means of calculating and presenting replicable and accountable financial product analyses for their clients at the point of sale.

He made the stupid mistake by entering politics. A couple of friends and Stewart picked a slate of state-wide candidates after helping the new Libertarian Party gain Ohio ballot access. He ran for the Ohio Senate, campaigning on rejection of the state income tax, repeal of the federal income tax, and audit of the Federal Reserve System. He put a sign on the back of his motorcycle's seat that read, "Stop the Federal Income Tax". It got a lot of approving honks. In retrospect, he realizes how politically naive he was at the time. He did relatively well at the polls but unexpectedly generated personally destructive and formidable enemies.

His brilliant younger brother Bob, a PhD geologist living in Florida, had for years been encouraging him to move south. In January 1986, during a particularly cold Ohio winter, he relocated to Sarasota, Florida, a community which he loves today as much as he did the first day he found it. He hopes to live peacefully there to age 100 among interesting neighbors. He is best contacted as Stewart in

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Quantitative Easing and Qualitative Solution

by Stewart Ogilby


Central banking systems were creatively and brilliantly designed to facilitate invention, trade, and profits. They rely today upon integrity and honesty of those to whom control has fallen. Those who decry the establishment of controlled currency systems ought to consider mankind’s historical conditions during feudal and pre-feudal epochs.

The nature of our increasingly controlled free market required a “sea change” in 1998 and then again, massively, in 2008 due to erosion of that premise upon which financial interactions of corporate profits, borrowing, investing, bank lending, private investing, risk, and reward are founded: integrity and honesty. The system’s financial team, our boys on Wall Street, schemed to create and then marketed fraudulent mortgage backed derivatives. That scam, as huge as it was, has turned out be only the tip of the systemic iceberg. Instead of being behind bars for fraud, they continue to run the show. The cat is simply out of the bag. No amount of alternative “quantitative easing” and periodic “tapering” will ever put it back.

The system itself is based upon the ingenious creation and control of currency, the solvent that permits humans to interact beyond primitive barter and force. Today’s solution combines massive currency infusion with full control of interest rates by governments’ central banks. This method is that upon which those managing the system are dependent to prevent total collapse of economies worldwide. It is new and subject to experimentation and continuation if economic Armageddon is to be avoided. No one really knows either how long it will “work” nor whether viable alternatives can be designed and implemented. The most frightening aspect is that of its effect upon currencies themselves should the system’s guardians lose control of interest rates.

The last vestiges of a free market economy are gone. Our financial future is in the hands of those guardians of our system of currency and banking, whether we are close to the land or in the city. Decisions made by individual investors must be based upon new considerations.

All thinking persons must now struggle to understand that, as Thomas Jefferson told us, integrity and honesty are critical in those entrusted with what he termed “the reins of the Republic”. That idealistic and enigmatic redhead left us a blueprint for public education and helped to establish a new form of government based upon
political philosophy. It was self-serving to its upper class founders in a nominally new classless society, as pointed out by Charles Beard and others. Its mythology provided the masses unrealistic aspirations, later termed “The American Dream”, which both H.L. Mencken and George Carlin lampooned hilariously.

An increasing number of pundits predict the upcoming necessity of governments to invade privately held investments, a terrifying prospect. Observers of a conspiratorial bent will view the entire scenario as evidence of an age-old scheme of evil manipulators, obsessed with money and power, to dominate the human race. My own view is that those in control, regardless of personal ambitions and personality quirks, are now riding a wild horse and struggling to stay in its saddle. The results for the rest of us will be the same, regardless. Its riders, by nature, will never become accountable to other citizens. That being the case, the necessity is now here for the change we can all really believe in. Unfortunately, few understand how that change can be effected. Years ago I posted online a video at – the time to study it has come.


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Posted by on September 20, 2014, With 925 Reads Filed under Economy & Business. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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2 Responses to "Quantitative Easing and Qualitative Solution"

  1. Worker Bee  September 21, 2014 at 4:26 pm

    “An increasing number of pundits predict the upcoming necessity of governments to invade privately held investments, a terrifying prospect.”

    Not if the people take back the government first, and it takes only the money gained by fraud and usury.

  2. Tiu  September 20, 2014 at 6:35 pm

    It’s very simple. Organized crime has hijacked several key strategic governments. Now that the governments have been hijacked it’ll be very difficult to dislodge the hijackers.
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