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  1. #1
    Senior Member AirborneSapper7's Avatar
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    LESSONS FROM THE JAPANESE: STOP BORROWING MONEY AND START PR

    LESSONS FROM THE JAPANESE:
    TIME TO STOP BORROWING MONEY AND START PRINTING IT

    Ellen Brown, November 23rd, 2009

    http://www.webofdebt.com/articles/lesson_japanese.php

    “We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon.â€
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  2. #2
    Senior Member Hylander_1314's Avatar
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    The trouble is, we have an unsound banking system. The Central Bank, or Federal Reserve is a privately owned corporation set up in a cartel structure, which is inconsistant with the Constitution. As Article 1 Section 8 Clause 5 states, Congress shall have the authority to coin money and regulate the value thereof, and of foreign coin, and fix the standard of weights and measures, Article 1 Section 10 Clause 1 states that, No state shall coin money emit bills of credit (what we call paper money) and, make anything "but" gold and silver coin a tender in payment of debt.

    Here's where they play word games. These jerks in Congress are of the atitude that if the Constitution doesn't prevent them from doing something, they can do it. Even Greenspan used this to shut people up. But what one must do, is look at the Articles of Confederation, as that was a previous Constitution, where all the authority was in the hands of Congress. There was no Judiciary, or Executive. And in the Articles of Confederation, Congress had the authority to emit bills of credit (paper money). And one must remeber that these men who were in charge of the states under the Articles of Confederation were also present for the Constitutional Convention from 1787 to 1791. But the thing that is important, is to look to the notes taken by James Madison. He had taken very maticulous notes of the Convention, and the original wording of Article 1 Section 8 Clause 5 was a carbon copy of the original Articles of Confederation where it said shall have the authority to coin money, and emit bills of credit.

    After a rather long and arduous debate, this phrase "emit bills of credit" is scratched out. Why? As I stated earlier, These men were in charge of the states under the Articles of Confederation, during the War for Independence. And during the war the states and the Congress emitted huge quantities of paper money known as Continentals. So much was printed that it became worthless. Why? It had nothing of value backing it. Remember, there were no Georgia gold fields, Colorado gold fields, or California gold fields. The Colonies had very little precious metals to work with, so the currency was backed by nothing. Hence a true fiat currency. This is where phrase "not worth a Continental" comes from. It was debased to the point that George Washinton has been qiuted as saying, that a wagon load of Continentals would scarcely purchase a wagon load of supplies".

    So after a long debate it was decided not to use paper money. Nor could the congress or the states set up a bank to do their bidding for them, hence the Federal Reserve. And since the Federal Reserve is really a cartel structure, between the big Wall Street banks and the government, it is inconsistant with the Constitution, and the ruling of the Supreme Court. In 1929 we had the crash. In 1932 FDR got elected, and after taking office on the 4th of March 1933, one of the first pieces of legislation to go through congress was the Nation Industrial Recovery Act. Also known as the NRA. What the NRA did was form all industries into a cartel structure, with a board of governors at the top called the National Recovery Administration. All the miners were in one group, farmers in another, and so on. In 1935 the NRA's constitutionality was challenged and went to the Supreme Court. The Court ruled, that Congress did not have the authority to delegate this kind of power to anyone, and the NRA was dismantled.

    Yet to this day, even though the Federal Reserve operates in the same basic structure of the NRA, it has never gotten that question to the supreme court.

    So printing more money isn't the answer either. The answer is, to stop borrowing money, but congress has to reign in spending first. This is just maddness as it stands. Stop printing money, as it only debases what's there already, as the by-product of flooding the market place is what we know as inflation. Open up a market to let gold and silver coin to compete with the paper, and start to take away some of the "special privilages" the Fed has, and let it compete with a free market, and eventually the Fed will have to close it's doors, as the free market will always out perform government privilage. But the banks also have to stop what is called "fractional reserve banking". That will return us to sound banking, and prudent investing.

  3. #3
    ELE
    ELE is offline
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    Greed, C orruption and Arrogance are at the root of this

    Hylander your response to this article is very well done. Right on.
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  4. #4
    Senior Member Hylander_1314's Avatar
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    Thankyou ELE. I guess my studying for the last 15+ years on this stuff is starting to finally pay dividends.

    I know what these folks are saying, but it is within the confines of the current structure, which is a debt based system. In otherwords, there will never be enough money in circulation to pay the interest and the principle. And the international bankers, or financiers as some call this love this type of system, as they always reap the benefits of the societies they plague.

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