Bill Still's Money Masters

Discussion in 'Economy' started by akelch, Dec 31, 2012.

  1. akelch
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    akelch Senior Member

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    I have watched Bill Still's Money Masters and the Secret of Oz and I think they are both very well done. Though I am not a economist, I think his solutions to solve our debit money system seems logical.

    Here is his 3.5 hour documentary of Money Masters.



    I would love to hear your thoughts on his solution to our monetary system.
     
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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    The Solution being going back to a Constitutional Money System and getting rid of the Banksters.

    I'm all for it!

    A Revolution is gonna' have to happen first because out Congress is totally corrupt and captured by the Banksters.
     
  3. akelch
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    akelch Senior Member

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    I agree...a reeducating of the public about the Federal Reserve is also needed.
     
  4. Toddsterpatriot
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    Toddsterpatriot Gold Member

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    He's a silly man. His videos are full of errors. Don't waste your time.
     
  5. akelch
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    akelch Senior Member

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    For those of you that do not have time to watch the 3.5 hour movie..in short....Bill's idea is to abolish the Fed and transfer all money creating to the National Treasury Department. Money then would be created (debit free fiat currency) using a formula in order to control the quantity. Plus, outlaw fractal reserve banking. Banks will then need to have 100% reserves.

    Again...I am not a economist but this does sound viable. I believe Milton Friedman came up with a monetary formula back in the 80's that would do exactly this.
     
  6. akelch
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    akelch Senior Member

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    Please point out some errors....I want to know.
     
  7. Toddsterpatriot
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    Toddsterpatriot Gold Member

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    100% reserves? How would that work? How would you borrow?

    What does debit free mean? I don't pay interest on my FRNs, do you?
     
  8. Toddsterpatriot
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    Toddsterpatriot Gold Member

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    He said the Fed isn't Federal and has no reserves.

    Of course it's Federal, it was created by Congress and signed into law by the President.

    As far as reserves, they hold $1.6 trillion in Treasuries, $940 billion in insured MBS and almost $450 billion in gold. I could go on, but do I really have to?
     
  9. akelch
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    akelch Senior Member

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    The Fed is not owned by the government. Congress doesn't control it. Nor can it audit its books. It is a banking cartel that is disguised as part of the federal government.

    The Fed creates money from nothing then leans it out with interest. Thus, every dollar has debt associated with it.

    If Bill has his way....the Treasury department would create the money then spend it into the market....debt free.

    As far as the 100% reserves....In order to get the new Treasury money in circulation ... You would slowing supply the banks with cash and lower the fractal reserve amount until they have 100% reserve.
     
  10. Toddsterpatriot
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    The Fed is not owned by the government.

    Sure it is.

    Congress doesn't control it.

    Not the day to day operations, but they created their dual mandate and could pass a law tomorrow giving Congress direct control, if they wanted.

    Nor can it audit its books.

    They're audited every year and release their balance sheet weekly.

    The Fed creates money from nothing then leans it out with interest.

    They buy bonds with it. So?

    Thus, every dollar has debt associated with it.

    They could create money from nothing and buy wheat or oil or gasoline with it. So what?

    If Bill has his way....

    Great idea, let the government fund spending with the printing press, what could go wrong?

    As far as the 100% reserves....

    Why is 100% reserves better? And how would you borrow?
     

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