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David Ortiz: Addition to Infowars and great focus on the Fed

September 8, 2012

Here is another article I am now posting on my web blog and will no longer be posting on planetinfowars.com because of what appeared to be a rewriting of an original article I wrote emphasizing a covered story I obtained from yahoo.com

To Mr. David Ortiz, good luck down there in Austin, TX. You already appeared freaked out by some of the goings on from what I observed when you were presented live on air.

David Ortiz: Addition to Infowars and great focus on the Fed

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September 6, 2012 in Economics

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I think it’s great that the newest addition of infowars, David Ortiz is focused on the shortcomings and grave danger of an unchecked central bank…the Federal Reserve and it is my hope that he covers this because all talk about the dangers of big government and the loss of liberty is inadequate if the negative impact of the money masters is not addressed.

Money used to be of the scarce commodity type such as gold and silver. Gold and silver cannot be manufactured by any government. More of us need to understand the history of money and the history of central banking in the United States beginning with Richard Morris and the Bank of North America followed by the First and Second Bank of the United States and of course the latest central bank whose charter will be up next year, the Federal Reserve with the power to print new money. The ability to create money out of thin air allows government to pay for wars and welfare, but it also generates economic instability with booms and busts. I bet you thought like me, that booms and busts comes from living in a capitalist system. This is what we were all taught in school and our teachers and professors were wrong. It is this ability to create an endless amount of money that results in an unchecked expansion of the state and a brutal and long inflation that has reduced our living standards in deceptive ways.

The colossal size of the derivatives market, a crisis yet to be resolved, could not have occurred without a Federal Reserve and the moral hazard its policies generate. We need to be clear that the Fed is to blame for most of our economic problems.

I have stopped taking out student loans in the middle of a master’s program because to continue to do so is like playing the stock market in the sense that we are supposed to commit to a certain amount of money that’s already thousands of dollars above what we can afford in the hopes that someday we will have a job that pays enough money to pay it off. Let’s be honest with ourselves. If you are working on a degree that is going to help you earn ten thousand dollars more than what you already earn, do you really think this will help you pay down your student loans in a quick and comfortable fashion? I imagine you want you increase in pay to be used to improve your quality of life. Get a bigger place to live, get a decent vehicle to drive. How are you going to accomplish that if two-thirds of your income will go to paying down debt? It’s hard to believe that reasonable people believe this. An individual is not better off by assuming more debt in the hopes that in the future it will be paid off. This is exactly why our nation is way over its head in debt that we have no hope of ever repaying and our government has made it clear to its creditors that it will never repay during the debate over raising the debt ceiling. What they in effect were telling their creditors was, you either give us more money or we will just default.

I would like to see the dollar be as good as gold again. I would like to see our banking system be more honest and be clear whether they operate on fractional reserve or full reserve. I would like to see a banking system carry on as a free enterprise without a central bank. I would like to see competitive currencies emerge on the market and be permitted to thrive. That means if we don’t want to do business in U.S. dollars we should not have to do so. All these solutions are possible, but politics gets in the way. Fiat money is a drug for politicians in Washington just like it was to the French during the period of it printing the assignats. They said they would only print a certain amount for one time but once it was spent they would print more and then more and more. I believe in that the solution is in the F.A. Hayek book called Choice in Currency: A Way to Stop Inflation. The politicians in Washington, DC need to get out of the way and allow the free markets to emerge with a new system based on choice.  We have to educate ourselves on monetary theory and get behind any policy that has to do with allowing competitive currencies and repealing legal tender laws.

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From → Economics

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