James A. Garfield
” Whoever controls the volume of money in a country is ABSOLUTE
MASTER of industry and commerce. When you realize that our entire
system is very easily controlled by a few powerful men at the top, you
will not have to be told how periods of inflation and depression originate.”
—-This quote was taken from President Garfield’s inaugural address
Two weeks later he was assassinated !!!!!
ECONOMICS = Management of Resource
It’s not nearly as complicated as they make it . In today’s society we use DOLLARS to manage the resources.
An abundant dollar supply equals a thriving economy and conversely if you are absent an adequate money supply you’ll have a depressed economy. This begs the question; What is money, and where does money come from? Money is a technology enabling barter through a means of exchange. What gives money it’s value is people being productive and belief in the currency. Where does money come from? Money doesn’t grow on trees, money is created out of nothing on computer screens. Contrary to what people assume, government has absolutely nothing nothing to do with the creation and maintenance of the dollar supply in our country. The dollar supply is created and maintained privately by the banking system as a whole entity without any outside oversight what so ever.
This dollar supply is created and maintained by FRACTIONAL RESERVE BANKING. Anytime any bank gives out a loan to anyone, anywhere, that bank has just created DOLLARS—POOF! This is a breakdown of how fractional banking works. A deposit goes into the bank reserves and the bank is allowed to loan out, at current rates, ten times the amount of the money in their reserves. The fraction of loans to reserves is ten to one.
This brings up an interesting question; Is all money created out of debt? Yes! All money is created out of debt. For example: Right now in America our national debt is 16 trillion dollars. Public, private and corporate debt is 38 trillion dollar. So the total American debt owed to banks is 54 trillion dollars. Now consolidate all the dollars in America, rich poor and corporate–all American money in existence, not only would you fall short of paying back the debt, but when all the dollars dried up there would still be an enormous debt owed to the banks due to the interest on all loans that were never created in the dollar supply.
It is important to note that the system was designed by those at the top–to filter wealth to the top. When banks give out lots of loans the dollar supply grows and economies prosper. When banks stop giving out loans the dollar supply dries up quickly and economies suffer. When banks decide to reign in the dollar supply, it is those with debt that get their possessions foreclosed on. Banks cause depressions by reigning in the dollar supply and make out like bandits foreclosing on hard working people, as these people struggle to find a way to pay their debts from a depleting dollar supply. Factories and businesses close not because resources vanish, but simply because there are no dollars to get the resources where they need to go. Depressions are completely avoidable. With a dollar supply created and maintained for the public interest, depressions would be a thing of the past.
Now, how our system should work and how to fix our dollar system virtually overnight. The first thing to do is audit The Federal Reserve and find out that their a criminal organization praying on the people, and absolve any debt owed to them. Then pay back the rest of the treasure bonds with newly created government notes. Then exchange Federal Reserve Notes to Government notes at a one to one rate. Now a new dollar supply has been created and now the government is completely out of debt.
So what you have is government control of the dollar supply. But without careful oversight and transparency a governmental control of the dollar supply could be just as bad as the banks. The idea is to maintain a certain amount of dollars in an economy while promoting the use of the dollars and discouraging the hording of money. As money disappears from the economy due to taxes or other reasons the government can create new money and spend it into the economy for the public good to maintain the dollar supply. Also government can institute new programs to serve the public good with new dollars as long as government later taxes this new money out of the economy. Failure to tax new dollars out of the system would later result in inflation. These changes would result in creating a sustainable capitalistic economy.
by LINCOLN BROOKS