MONEY: Honest money; not “social justice”

http://www.masternewmedia.org/economy/debt-and-interests/money-creation-by-private-banks-Money-Castaways-story-20070804.htm

August 4, 2007

How Money Is Created As A Debt By Private Banks – The Money Castaways

Robin Good
Be Smart, Be Independent, Be Good
Edited by: Luigi Canali De Rossi

***Begin Quote***

The story I present to you here today has nothing with to do with web 2.0, new media or how to make money with your site. Today’s story is all about waking up. Realizing that something you have given for good and granted since you were born, may actually deserve some heavy rethinking ASAP.

This is the story of how private banks force most of us into the vicious, enslaving circle, in which you have long been feeling trapped. Working your ass off for six days a week only to be able to pay the rent, the gas, the bills and very little more. If getting a mortgage to buy a house means signing a slavery contract for the rest of your life, maybe THERE IS something deeply wrong with the economics of our system and the way create debt out of money THEY DO NOT OWN.

But you know what fucks us bad?

Our ignorance.

***End Quote***

Now I’ll need a little help here. I’ve sent out the “bat signal” to real Austrian economists. This cartoon doesn’t seem right to me. But, I’m an injineer, not an ekkynonnnymist.

I suspect that it is in the quick way it whizzes by the transformation from bartering goods to creating a fiat currency. But, I think it makes some big leaps to an unsustainable conclusion (i.e., money for social justice).

One must always read extra careful when you see stuff by the “social justice” crowd. They are usually Socialists at best and Communists at worst.

While they will criticize the “banker” in their little morality play, they ignore conveniently that the division of labor made possible by free markets and capitalism. We can support more of us with everyone doing “their thing” in liberty. The free market allows us to peacefully decide who “needs” what and to satisfy those needs in an incredibly complex calculus. Thousands of needs all integrated and aligned to come up with the “best” solution. Markets with prices allow everyone to decide what is best for them. It came about organically from the barter economy. And, is singularly responsible for human progress in that it allows needs to be peacefully satisfied.

Money, whether it be those big wheels of the Yap Islands, the tikis of some other island, or gold coins, makes the world go around. Money allows prices. Prices induce people to change their behavior — forgo, substitute, or conserve. Some need is expensive; maybe it’s a want as opposed to a need. Steak is “too expensive”; eat “cheaper” chicken. Maybe for an expansive good, I can use less. The marketplace automagically aligns all these calculations. Prices allow people to adjust.

I agree with the conclusion about “ignorance”. We’ve become too “smart” for our own good.

When gooferment was given the monopoly over “money” that’s where the dead old white guys made their mistake. And, we have been paying for it since 1913 when the Federal Reserve was created. They should have stood silent on what constituted money and allowed the marketplace to decide.

imho

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