Credit where Credit is due

This excellently and superbly written article by the author of Web of Debt, Dr. Ellen Brown has the subtitle “The Direct Approach to Fixing the Credit Crisis”.

It illustrates not only the difference between private and public banks but also highlights the international bank of central banks as the culprit: the Bank of International Settlements in Basel.

This is distinctly the tool that would educate all of the journalists and politicians who need this level of education. But would they act on it???

2 responses to “Credit where Credit is due

  1. Ellen brings up many fine points and has some interesting insights.
    Her latest evolution recommends that instead of the banks loaning the money, that the government should loan it.

    This type of policy leaves the people without a permanent money supply, requiring the people to be in debt to have a medium of exchange and does nothing to teach the society that loaning money into circulation is an evil and not a virtue.

    Better to monetize the production of the people. That is really why gold worked – and all other forms of wealth money – not because it was yellow or a metal or easy to work with or rare, but because it was wealth. They required that someone do some work before there was money created.

    Infrastructure is the obvious first stop as it benefits everyone – even those that do not drive, as every product arrives via some form of transportation infrastructure. And we desperately need it.

    The better, safer and frankly, at this point (over $100 trillion in debt to pay off), the more expensive the infrastructure (with the obvious quality controls and oversight), the wealthier the society becomes as its production serves as the support for creation of the medium of exchange.

    No debt. Better society. Plenty of jobs. Non inflationary. Cost of doing business decreases as interest and taxes are wrung out of the equation. Do the work and get paid, instead of do the work and pay.

    Now, you do the work and the money eventually goes back to the bank in the form of a loan payment – either outright or in taxes.

    For some answers: Money As Wealth

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