I have kept my mouth shut for most of the insanity of the "fiscal cliff" goofiness, the Republican debt ceiling blackmail, and the hopeless Democrat reactions. No longer.
I have hoped for many years now that the American people - hey, the world's people - would wake up to see who is exploiting them and what is causing the unending mess we are in. Let's see - there was the Savings and Loan debacle, then the Enron debacle, and finally the ongoing disaster of the "Great Recession," to mention a few obvious candidates for a wake-up call Every time the banking cartel managed to cover up the workings of their money machine, pin the blame on the victims, and skate away with even more power - yet the people didn't wake up. Well, here goes. Wake Up!
Here's the straight fast ball: The worldwide financial oligarchy and banking cartel (comprising such entities as the Federal Reserve, most central banks, the big players (i.e. Goldman Sachs, JP Morgan Chase, et al), and the branches of governments they control) create virtually all the money in the world out of thin air, call it loan it to us, and demand repayment. This includes the national debt of the USA. Except for a trivial amount of coins, all the money we are forced to use is debt money, we have been suckered into saying we will repay. No government, no laws, no Constitution (least of all the US Constitution), or any other legal nicety gave the financial oligarchy this power. They took it. Don't believe it? - read on.
Andrew Jackson believed it. Abraham Lincoln believed it. Many others did too, but all - all - have been defeated by the private financial juggernaut of private money creation. Jackson, Lincoln, and many others knew that the cure for the problem was simple - take the power of money creation from the private sector and give it to the people. Jackson tried to get us a truly national bank that would fund government with debt-free money. Lincoln funded much of the Civil War with debt-free "Greenbacks," only to be ultimately driven back to selling bonds to the private sector, and, need we mention, be assassinated. Assassinated just months after issuing a monetary policy that would have freed the American people forever. Read that policy here Lincoln's Monetary Policy
Why should the government borrow money created out of thin air by the private sector, when it could create the money debt-free itself? Lincoln knew that it was right, just, moral, and eminently practical for the government to create the money the people need. Real credit. Real money that stays perpetually in circulation. Many others do too, and it is time the American people get it clearly in their heads that this is literally the only course that will save us. No debt ceiling ever again, because there need not ever again be any national debt.
The financial world powers devote all their might and influence in government and the media to convince the world's people that debt-free money will be abused, cause inflation, and bring an end to civilization as we know it. All lies. That fact is the present debt-money system is responsible for all the ills the bankers want you to believe would be caused by public credit. The private debt-money scheme causes constant demand for unlimited growth, perpetual inflation, uncontrollable booms, inevitable busts, and it is right now leading to the collapse of civilization as we know it.
The economics behind all this is really quite simple. Every dollar created is money owed which must be repaid with interest, but the debt money machine does not simultaneously create the money for the interest. Where does that come from? You guessed it - more debt in the future. This endless borrowing is a treadmill that neither individuals, businesses, or governments can ever get off of. Private debt-money creates an endless cycle of vicious competition, overproduction , and repeated collapses as debt is finally so large as to be unpayable. If your interested in reading a real economist's explanation, read Michael Hudson. If you want the full picture with all details, read Michael Rowbotham's brilliant book, Grip of Death.
So, forget about debt ceilings and all the associated nonsense. Mint trillion dollar coins or just enter credit in the account of the people. Do whatever it takes, but pay off all the private debt with real credit created by our own governments. Remove the grip of the financial oligarchy on us and our future. The minute we stop borrowing from the financial oligarchy (translation: giving them our money - our IOUs and claim on our future earnings), their power is ended. Only then can we begin to rebuild our lives, our infrastructure, our schools, our towns, and our world with real credit, real money that will never have to be paid back, but remain in circulation as the true medium of exchange as envisioned by Adam Smith and all the great economists who followed him. Wake up, everybody.