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Message Subject Get rid of the money system, then get rid of goverrments
Poster Handle Anonymous Coward
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“Credit as a Public Utility:
The Solution to the Economic Crisis”

A Video in Six Parts

Written and Produced by Richard C. Cook

Part Three of Six Parts: Credit As A Public Utility: The Solution to the Economic Crisis

“The Collapse of the Financial System”

The collapse we are seeing today began in the financial system, not the producing economy. The crisis started with the housing bubble which the Federal Reserve created by cutting interest rates and then brought own by raising them. The trigger of the 2008 bank meltdown was refusal by European banks to purchase any more “toxic” U.S. debt based on mortgages and sold as securities. Now, with the decline in equity values, the burden of debt in our economy has grown even larger. Thus a renewal of bank lending will not solve the problem, while the economic stimulus program of the Obama administration is likewise insufficient to restore economic health.

[link to video.google.com]

Part Four of Six Parts: Credit As A Public Utility: The Solution to the Economic Crisis

“What is Credit and Who Should Control It?”

Fractional reserve banking is the process by which banks create credit out of thin air. But despite abuses of the system, credit is still a crucial part of modern economics. An enlightened concept of governance would view credit as a public utility. This means that government must take back the control of credit from the private financiers.

[link to video.google.com]

Part Five of Six Parts: Credit As A Public Utility: The Solution to the Economic Crisis

“The Gap Between Prices and Income”

One of the most important and least understood concepts in modern economics is the existence of a gap between prices and purchasing power. This gap results when a portion of prices must be set aside as business and private savings. The money is then used by the financial system for lending and speculation. Keynesian economics takes control of some of the savings through government deficit spending but is still a compromise with control of the economy by the financiers. In fact Keynesian economics has helped cause the collapsing debt pyramid. A better system would be to provide consumers with a National Dividend as a way to monetize the continuous appreciation of the producing economy.

videoplay?docid=3035089455833762689

Part Six of Six Parts: Credit As A Public Utility: The Solution to the Economic Crisis

“The Greenback and National Dividend Solutions”

The U.S. should convert to a system where the money supply is created by the federal government by being spent into circulation without government borrowing or taxation as was done with the Greenbacks. The Federal Reserve should no longer be a bank of issue. Additionally, a National Dividend should be paid directly to the people. The “Cook Plan” calls for the initial distribution of vouchers in the amount of $1,000 a month plus a new system of community savings banks. Greenbacks combined with a National Dividend will create a non-inflationary democratic currency and transform the economy of the United States.

[link to video.google.com]
 
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