tag:blogger.com,1999:blog-6394725267741479438.post6132038691373556270..comments2014-04-21T17:48:29.158-07:00Comments on New View on Money: Column #90 WHAT DO THE BIG-THREE AUTOMAKERS REALLY NEED?Richard Kotlarzhttp://www.blogger.com/profile/11307459524674511159noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6394725267741479438.post-9259286256753385622008-12-06T06:14:00.000-08:002008-12-06T06:14:00.000-08:00Lars, I think you may appreciate the earlier blog ...Lars, I think you may appreciate the earlier blog by Richard concerning these matters. I think he presented this excellently in his "Playing Poker, Federal Reserve Style" column on Nov. 26. Article link - http://economictree.blogspot.com/2008_11_26_archive.html <BR/><BR/>Richard's key point is that as long as we, the American people and government (we're responsible for them), 'borrow' money into existence from the Fed. Reserve (privately owned), we truly do not own our money supply. I contemplated this, and the incredible difference is in "I cannot loan myself money today, charge myself interest, and say I owe me double tomorrow and am therefore in debt to myself" (this is individuals or gov't). In order for this to occur, "I" have to be split in two, either by establishing an entity outside myself such as a separate business venture, or in the case of our Gov't, by allowing the Fed. Reserve to 'own' the monetary process. Then "I can borrow money from this entity and owe a debt with interest, due and payable and subject to legal bindings."<BR/><BR/>I recall a news blurb where an individual did this through the courts - he sued himself and won? He, the employee, was injured on the job that he, the employer owned, thus owing himself. Without the split in identities, he could not have created this scenario. In my mind, it seemed as if money from one pocket was transferred to the other on the same individual, yet the legal ramifications - decreased profits, financial statements, taxes - 'debt' - occurred. Equally, if we, American people and government, truly created and controlled our own money, we simply could not "be in debt to ourselves" - this is a Constitutional mandate of gov't responsibility spelled out in the first document forming our country. It was usurped by private banking when the Fed. Reserve was established almost a century ago, and Woodrow Wilson, in hindsight, lamented "he'd started the ruin of his country". <BR/><BR/>I think you'll find the gist of this in the above-linked column, and appreciate your comments! Thank you for sharing - Richard's main goal is to create a dialogue with others concerning these matters. <BR/><BR/>Elaine Kain (blog assistant)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6394725267741479438.post-65221401214645918172008-12-05T07:38:00.000-08:002008-12-05T07:38:00.000-08:00Personally, I'm not as concerned with the interest...Personally, I'm not as concerned with the interest payments as with the special power banks have to create new money through fractional reserve lending. Interest payments and fees at reasonable levels should be allowed for banks to make profit, but their ability to create money out of thin air should be curbed. That is why our economy is contracting, as currently operating our economy requires new debt to create new money. As people become unwilling or unable to borrow more and more, less money is created and the economy contracts.Larshttps://www.blogger.com/profile/05775901119510984033noreply@blogger.comtag:blogger.com,1999:blog-6394725267741479438.post-34867324882094439812008-12-05T05:04:00.000-08:002008-12-05T05:04:00.000-08:00Very helpful articles!Debt Relief Resourceshome mo...Very helpful articles!<BR/><BR/><BR/><A HREF="http://equitydebtlink.com" REL="nofollow">Debt Relief Resources</A><BR/><BR/><A HREF="http://info-homemortgage.blogspot.com" REL="nofollow">home mortgage resources</A>Sefahttps://www.blogger.com/profile/02665067720552576381noreply@blogger.com