Good article explaining how most of the money in circulation is created by private banks out of thin air. The only major inaccuracy I found relates to the outdated claim (which originated with Adam Smith) that money developed out of barter. David Graeber and other anthropologists have totally debunked this myth. Barter was extremely rare in most primitive societies. As described in the Old Testament, ancient credit/debt schemes preceded the development of coinage and are the true origin of our current money system. See Debt
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Going to bartery or a gold standard means absolute austerity in a so-called developed country. Pie in the sky nonsense. Especially in an overpopulated, shithole like mureca. Why not nationalize the bank, get rid of the parasitic zionist bankers, and develop a more economically and environmentally sustainable economy?
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Agree totally with your views on the gold standard, Mic. And with nationalizing the banks, getting rid of parasitic bankers, etc. I suspect the author of the article also agrees with you.
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And now the owner class in america, wants absolute austerity and no commons, for most. They want, permanent war, and slaves to build bombs and.continue to line their pickets. We could get out of the fed, and not borrow money from zionist bankers or be influenced by zionest bankers and cancel the debts. But nooooooo! That would be too much. More war, austerity, blood shed, environmental catastrophe, nuclear and chemical hell.
Another insane war, trillions will be blown, millions killed and displaced. The trump fantasy, completely discredited. Meanwhile 10 million americans go homeless. Many are working poor, living out of cars because, the owners have jacked up their rent and stagnated their wages so much, the cannot affort decent shelter.
https://www.counterpunch.org/2018/05/08/with-unemployment-so-low-why-are-wages-stagnant/
Like monopoly, if a few own all the property and jack up rentals prices everyone loses! Only this time there are no go to jail cards, for the rich. There are no luxury taxes for the gulpers!
Little or no decent medical care access, for most of the 80 percent of americans. If ya get sick enough, you will probably go homeless and die in the streets.
75 percent of murica owned by absentee landlords, and the upper 10% of america.
Finally, a journalist says the truth and calls the crash of 2008 for what it is a great depression
https://www.counterpunch.org/2018/05/08/teachers-class-struggle-defiance-inspires-millions/
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Doug, according to Michael Parenti, whom I greatly admire, this is all the ruling class have ever wanted – everything.
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Bankers, politicians, oligarchs, generals, war-lords are sociopaths, psychopaths narcisists. They do not care. People are brain-washed to worship them and their ostentatious lifestyles. There is a way for out for us and them. Its is to respect nature and life. To have compassion. To find a spritual path. It is hard for some. It is possible though.
Dalai Lama
In today’s materialistic world there is a risk of people becoming slaves to money, as though they were simply cogs in a huge money-making machine. This does nothing for human dignity, freedom, and genuine well-being. Wealth should serve humanity, and not the other way around.
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Real unemployment is more like 23%. Wages have been stagnant for 40 years, as the article I am commenting on, states.
https://www.paulcraigroberts.org/2018/03/08/make-believe-america/
1% own 40-50% or more of everything in america, so america is now in another great depression. America, is in a rentier quagmire, as Michael Hudson points out
https://www.counterpunch.org/2018/05/04/creating-wealth-through-debt-the-wests-finance-capitalist-road/
The 2008 crash is not a great recession, like the lying, neoliberal republicans and hillcrats, would have us, repeat in unison, over and over again, with them.
It is a Great Depression! The teachers that are striking, across the country know it! The nurses that are striking in California know it!
What is worse, is that there are 10 million homeless and that numberis growing!
2.5 to 3 million in jails, and prisons! 80 percent of americans living from paycheck to paycheck, with poor access to decent healthcare and, no access for many!
https://www.counterpunch.org/2018/05/08/teachers-class-struggle-defiance-inspires-millions/!
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This is the article am am refering to commenting on talking about stagnant wages, from the above comment.
Wages have been stagnant for 40.years. If unemployment is so low, why are wages stagnant?
https://www.counterpunch.org/2018/05/08/with-unemployment-so-low-why-are-wages-stagnant/
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Ken, I think we both know why wages have been stagnant – because the economy continues to shed jobs and the government rigs the unemployment figures to cover it up.
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Teachers, middle class, poor, nurses, working poor, poor me, are wising Dr Bramhall. The crash of 2008 did not preciptate a great recession as all the liars, criminals, politicians talking heads, phoney economists like neoliberals krugman and fox fools THIS IS THE SECOND GREAT DEPRESSION. that is the truth. Everyone needs to say it now.
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Just curious, Ken, have you seen the Secret of Oz? Bill Still says the bankers squeezed something like 40% of the money out of the economy in 2008. They have a long history of doing this – because it does cause depressions and allows them to foreclose on land and increase their wealth. It’s a long movie but well worth it:
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