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 bigeye.com/eliminate_federal_reserve.htm – the time to study it has come.
Posted by Stewart Ogilby 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.