Occupy the Money System: Coffee with Joe 12-1-11

[starlight1946]

When you look at the other Republican candidates only Ron Paul gives us hope compared to the others who are warmongers.

[starlight1946]

Jobs leaving the US going to China and all the billions given to the Defense that robbed the people. That could of been used to keep this Land still working out for all. Useless Wars how much did the Iraq War cost and now they are preparing to have a war with Iran. Bring the troops home, do it how Ron Paul wants it done. Vote for Ron Paul.

[EconomicStability]

@starlight1946

Paul's conservative credentials on foreign policy is impeccable, and his policy positions are especially commendable.

His opposition to Free Trade stands in a bit of contrast to his free-market philosophy - the free movement of capital and all that.

He and Johnson are my faves among Republican candidates.

But his position on money is off base.

Not because it is Austrian.

Because saving the planet NEEDs permanent money, issued debt-free.

Beyond the rhetoric.

Thanks

[TheAtheistPaladin]

There is not a lot of democrats I like but Dennis Kucinich is one of them.

[88roro11]

i find it kinda funny that our economy is leveraged 1:1..

[joebhed]

@88roro11

Would that be debt-to-money?

In a debt-based money system, there is always more debt (P+I) than money (P).

That's why it's implausible.

Thanks.

[88roro11]

@joebhed yyea... im just referring to gdp vrs debt.. but you are correct my friend.. i personally feel we should spend money in to existence vrs borrowing it in to existence

[charronfamilyconnect]

I see that the leaders want to do the best thing for themselves and that means spending others money without any work behind it.We need a monetary system that is backed by production, goods, and collective effort of a positive productive innovative society. That is if you believe in the state system. I also believe that people have a right handed to them by god to be free from a system of tyranny.They can choose their own will as opposed to collective will. In other words have choice to choose

[joebhed]

@charronfamilyconnect

I think a nice Local Exchange Trading System would work very well for you.

My daughter is very much involved in one, and loves it.

Very good luck with that.

Joe

[charronfamilyconnect]

Do you guys support someones god given right to be their own self sovereign being free of the state, but morally responsible for his actions, and answerable only to god the mighty under gods laws? You guys have a problem with someones choice to be free from a state system? Thanks!

[joebhed]

@charronfamilyconnect

1. We don't discuss gods, their rights or their laws.

2. We ask you do the same.

Thanks.

[PersianPaladin]

How about we follow the Iceland model without all the pain. Repudiate the debt outright and put the fuckers in jail, seize assets and use them to pay off American bond holders and then other bond holders if anything is left. Free the banking industry and money production industry. Anyone owing debt in federal reserve notes should be able to pay them off with ease as they will be available by the truck load for a pocket full of silver.

How's that for a reset?

[joebhed]

Paladin

Like Pete said, were William Black the AG, a bunch WOULD be in jail.

Icelanders repudiated debt because they legally could.

A lot of the debt-industry (financial services) debt is in the shadow banking sector and they are going down.

History.

Please don't slam the door.

That's good enough for me.

Joe

[PersianPaladin]

‎"(a) Government Acquisition of All Net Assets of Federal Reserve System- On the effective date, the Secretary shall purchase on behalf of the United States all net assets in the Federal Reserve System, including the Federal reserve banks, according to the rules specified in the Federal Reserve Act (12 U.S.C. 288) for this purpose."

This will cause chronic inflation because the Fed system includes excess claims to underlying real assets.

[joebhed]

Paladin

Now I'm REALLY surprised.

How will a change of ownership of net assets from private to public hands cause inflation.

Most of those "excess claims to underlying assets" are in the shadow banking system.

Commercial banking assets will require some agreement on the "Net Asset Value" in order to make the purchase.

Also some "adjustments' to underwater mortgages.

Why is that a problem?

[PersianPaladin]

@joebhed

Actually, the leverage-fraud has impacted the entire commercial system.

[PersianPaladin]

Which says... CLEARLY... THAT ONE WAY YOU ARE GOING TO TRANSITION THE CURRENCY... IS BY BUYING ALL THE FEDERAL RESERVE STOCK... and pay it, over time... changing nothing.... as we still are in debt and paying them... on taxation and the backs of debt lending... which is still debt servitude.

[joebhed]

@PersianPaladin Wow! A little surprised there, Paladin. First, don't we need to buy back the stock in which the private banks invested? Second, why do you think they would "pay it, over time" ? It's a simple straightforward stock purchase. Credit the accounts of the Member banks. Done. We OWN it. We are NOT paying debts through taxes. We DO end this debt-servitude. The purpose of Sect. 301 IS to "change everything". How do you say this changes nothing? Really. Joe

[PersianPaladin]

2) SEC. 201. ENTRY OF UNITED STATES MONEY INTO CIRCULATION.

The Secretary shall cause United States Money to enter into circulation by and through any of the following means:

(6) Any purchase of stock in a Federal reserve bank from a member bank and of any other assets as prescribed under the Federal Reserve Act as required to accomplish the purposes of section 301.

[joebhed]

@PersianPaladin

Today we have a private bankcorporate system. The stock of the 12 Regional Fed BankCorprations are owned by their members.

We want to take back their money-creation powers, NOT their stock.

We cannot 'take' these assets.

On the part of the government, that would require the creation/issuance of new United States Money.

Is there a problem?

Thanks.

[PersianPaladin]

Monetary reformer Bill Still (who I greatly respect) has criticised Kucinich's NEED Act as being too centralised in terms of who does the decision-making and how long their terms are. His alternative is more interesting and is seriously worth a look. I think you guys should talk to Mr Still. I also have a friend in finance who advocates monetary reform - but is concerned that the NEED Act has some loop-holes that would still allow for fractional reserve banking via the backdoor.

[joebhed]

@PersianPaladin

Thanks.

Where are Bill's criticisms, please.

I have spoken to him many times before his presidential-bid.

He said a great deal of positive stuff about the Kucinich Bill back then.

His alternatives for Monetary Authority members/terms may be better.

Please give your friend my email address so he/she can explain HOW fractional-reserve banking can come about under H.R. 2990.

It is NOT possible.

Thanks.

[PersianPaladin]

@joebhed

SEC. 106

(c) Rule of Construction- No provision of this Act shall be construed as preventing the Congress from exercising its

constitutional authority to borrow money on the full faith and credit of the United States.

[joebhed]

@PersianPaladin

While the Act does prevent the government from borrowing, it also does not remove the Constitutional prerogative of any sovereign government to borrow.

This just clarifies that we are not turning to UN-Constitutional measures.

Thanks.