Edwin is an incredible scholar of political economy. You are wise to listen.
http://vimeo.com/8602534
PeakOil is You
A Rare Speech From Edwin Vieira
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A Rare Speech From Edwin Vieira
by mattduke » Tue 09 Feb 2010, 21:34:14
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mattduke - Intermediate Crude
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Re: A Rare Speech From Edwin Vieira
by Revi » Tue 09 Feb 2010, 22:00:51
I agree with him, but the Fed has existed for almost 100 years now, so it's hard for most people to understand a system not run by the central bank. The idea of a fractional reserve is nice, but nobody has been using it for at least 50 years.
Fiat currency, based on nothing is the stuff we have.
Who really cares who is "running things".
None of us is paying back that massive debt anyway.
You can't get blood from a turnip.
Fiat currency, based on nothing is the stuff we have.
Who really cares who is "running things".
None of us is paying back that massive debt anyway.
You can't get blood from a turnip.
Deep in the mud and slime of things, even there, something sings.
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Revi - Light Sweet Crude
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Re: A Rare Speech From Edwin Vieira
by pablonite » Tue 09 Feb 2010, 23:17:07
$this->bbcode_second_pass_quote('Revi', 'I') agree with him, but the Fed has existed for almost 100 years now, so it's hard for most people to understand a system not run by the central bank. The idea of a fractional reserve is nice, but nobody has been using it for at least 50 years.
Fiat currency, based on nothing is the stuff we have.
Who really cares who is "running things".
None of us is paying back that massive debt anyway.
You can't get blood from a turnip.
Fiat currency, based on nothing is the stuff we have.
Who really cares who is "running things".
None of us is paying back that massive debt anyway.
You can't get blood from a turnip.
Not many people will be paying back the debt but maybe that is the idea? It all looks like debt slavery to me.
A bigger question than what mode of monetary system you use to grease the wheels of commerce is whether that system is debt based or credit based. Either way you can use turnips for currency if you really want to.
The biggest question though is the application of interest into a monetary system. Most people just don't understand the fundamental difference between interest and compound interest, one is linear and the other logarithmic when graphed.
You can apply interest, even compound interest to a monetary system but if it's not factored into the fundamental economic planning you get what we have today. Bankers own the world.
It is that simple, take away all the private bankers money but give them a bank and the right to create money from debt and charge interest on that debt and they will own the world again soon enough because a never ending queue of ignorant people will take their money.
Mortage means chained until death or some such thing in french, we might be quite ignorant of monetary systems today compared to even several generations ago and we're in big debt. Hmmmm.
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