April 10, 2012 § Leave a comment
Quite an important point by Faux Capitalist.
Private Money Creation is just fine, as long as it is not a monopoly used to enslave everybody with interest.
The Money Power has sprung many traps for the unwitting, and the majority of the alternative media has stepped right into most of them.
Some of their main traps are:
- Their fiat money smokescreen. The Money Power actually hates fiat money, since fiat money is money issued by sovereign governments, not under the control of the Money Power. So they re-define fiat money to be money not “backed up” by, or redeemable in, gold and silver or other precious metals.
- Their sound money smokescreen. Gold isn’t sound money when it is made legal tender, since it has historically resulted in many panics and crashes. It also isn’t sound when it is lent out at interest, since there is a ticking time bomb from the time the debt is created with interest, since the debt is created without the money to pay the interest.
Another Money Power trap…
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