I was thinking about trading and buying with coins, but then again the banks do lend them to you by interest. But this idea is amazing! sounds a bit silly but what's more silly than to continue being slaves!!!! God Bless you Bill!
Very effective video, Bill. Keep on the visual aids track, because it helps the uninformed viewers understand these concepts more easily.
You and I know that your message is actually pretty simple once you think it through, but it starts to sound complicated in the conveyance of the message. That's why I feel that a strict economy of words, and putting things in everyday language, is the key to educating the masses on this topic.
Here's to a global monetary renaissance in our lifetimes!
I just want your opinion on Gold and Silver. If you think we will go on a world currency backed by gold, what price do you see Gold & Silver going to? Are you a fan of Mike Maloney and his predictions? Thanks
aftonline - you think capitalism works? Then why did we bail out banks during the GFC? If true market forces were allowed to dictate our market, then these banks would have failed, gone into liquidation and a more efficient system developed to replace a broken system.
@dmsydney -- It depends on your definition. I abhore finance or monopoly capitalism, but an incentive-driven system is absolutely needed for a productive society and maximal freedom. How do we get there from here is the question.
I just don't get this kind of thinking! They want Barney Frank printing the money instead of the FED. what kind of solution is that? If you think the FED is messing up just let the congress start printing it and you will see what hyperinflation really means.
@ForexOracle -- You don't get it because you are too lazy to spend 15 minutes understanding it. Perhaps I can spell it out in few enough words so that your limited attention span doesn't wander. 1. We HAVE to fix Congress. That's our only hope to escape serfdom. 2. We, the people, have to recapture the money system. Congress sets an inflation target, and a Monetary Policy board made up of reps from each state implements it. The Fed is out of the picture.
@bstill3 Honestly Bill I used to admire you because of your "money Changers" video. But now I see that you not only changed your mind on quite a few issues from the original video but you became one more person in denial. Would you answer me WHEN in the earths history somebody was able to set up an honest government? Are you claiming that an honest congress, senate and president is something achievable? Again I use to admire you sir. When did you start believing in fairy tales?
Really like your videos. You are quite the investigative reporter. I had never seen the red seal bills though I did see a silver certificate. Were those federal reserve notes too? Also are quarters issued by the treasury or are they fractional federal reserve note dollars? How did we get hijacked anyhow, and why can't we take it back?
Sounds like an idea Robert Mugabe would approve of. The only reason capitalism works and communism doesn't, is that capitalism takes human nature and entropy into account. You can't just print money and expect people, and the economy to still work. In the words of the 7 Dwarfs "I owe, I owe so off to work I go". If the Government prints enough money to pay the people's debts, the money will disappear and more will be needed. And no work will have been done to earn it. Hyperinflation will ensue.
@aftonline -- Here's an example of a guy who thinks he knows something, but obviously won't put in a single hour learning what's really going on. Of course you can't just print money and we all lie around eating bon bons! We need an incentive-driven society. If you want to understand my simple position, do some minimal amount of work yourself.
@bstill3 Fair comment, but another point you need to consider is, how will the government pay for the precious metals required to mint 12 trillion dollars worth of quarters. By doing another banker bailout?
@aftonline check out Bills video on "The wizard of Oz". I think your missing the point. A dollar does not have to have a green seal (federal reserve note) to be legal currency. As Bill points out the green sealed money is borrowed and the older red seal is created! The value in the red seal monies would be based on money supply. Remember supply and demand..as the supply is reduced the value is increased. This would give the Treasury dept. direct control over inflation. No need for gold
@aftonline I don't think you truly understand Bill Still's proposal. He has said nothing about capitalism or communism. What he is proposing is a currency that is spent into circulation on items of public interest (roads, bridges,education, etc)instead of borrowed into circulation as is currently done. Any economy has a need for currency to facilitate trade and there is an amount of currency that is optimal. Read Bill Stills book "No More National Debt" and watch "The Secret of Oz".
In what time frame do you think would be convenient to remove the Fed dollars with Government money? Because, one cannot replace all the old money with the new immediately, it would create huge problems for dollars holder ouside the U.S. ?
@philonqi -- Just pay off the bond (Treasuries) as they come due. Siphon off the inflationary money by raising bank reserve requirements proportionally.
I believe we should be able to write off most of the debt owed to The Fed. Of course, we should honor all debt to foreign and domestic investors. But the big banks underlying The Fed should be told "We've already paid you enough." This would knock our debt down to about half. And the debt owed to foreigners and domestic pension funds, etc. would actually bring stability to the change over to debt-free government currency. Start paying that debt down after the dust has settled a bit.
@zwizzleshire -- I've answered this many times above, but .... You would be correct IF you did NOT raise reserve requirements proportionally on the commercial banks as the new money (US Notes) paid off the old debt (Treasuries) and the Federal Reserve Notes were retired. If you replace them one-for-one, and end up with no fractional reserve lending, then M-1 remains level and you escape the debt money system forever.
This is an idea that I never heard of before---Paying the national debt off with quarters! I doubt that our government will gather up over 14 billion in change. What about those presidential "golden" dollars that people seem to not want? Maybe we can use those. What about having the debt paid off with gold and silver? I have heard of that being a possibility. What do you think will most likely happen?
@search4knowledge2000 - There is not sufficient gold and silver in the world to pay it off. I used quarters just for shock value. Most people don't understand the difference between debt-based money and debt-free money, i.e. coins and U.S. Notes. I think what will happen is we will be driven into a well-disguised international money backed in some way by gold -- a huge mistake.
Question: what would that do to M1. Would federal reserve notes be retired permanently? How would income taxes be paid if they must be paid in dollars? What would happen to credit markets and credit cards? How can you kill fractional reserve banking?
@ArgentPur -- What' the fuss here? We are simply exchanging one-for-one, one form of legit legal tender for another -- the debt-based Federal Reserve notes for the much older (and wiser -- and sounder) U.S. Notes. M-1 remains the same if you proportionally raise reserve requirements on the banks, ending at full reserve banking. The cost of lending would go way up, but that's a good thing.
@a2zhandi -- Nonsense. As long as the Holy Spirit is present, there is a way for us to succeed -- because the alternative is just to terrible to contemplate.
hey bill,with how the system is structured , wouldn't it present a negative end result if you just printed more money?If our reserve is low and we print that much money on top of the outstanding amount ,wouldn't the purchasing power of the dollar be lowered?The only way i think doing this would work is if money use to repay debt is not considered outstanding capital to be used in the calculation of the dollar's value.
@sesshoumaru3st -- I've answered this 100 times. Maybe I'd better make a YouTube just on it. It's all about being guided by an honest look at inflation numbers. Hold inflation to some agreed-upon ideal. For example, to keep per capita M-1 level, it has to increase.
Respond to this video... Yes, you just can't print money without limit. That's silly. I've answered this in these comments several times and in several ways. Remember, it's not what backs the money that is the key question; it's who controls its quantity.
While the coins aren't debt notes, they are minted by the actual federal reserve banks, aren't they? I thought that's why they had the P and D on them to mark which Fed mint they came from. But the principle sure is interesting, use NON debt notes to pay back the state debts. I like it!
American people understand that the wealthiest people in this country are becoming wealthier while their effective tax rates in recent years have declined to the lowest level in history. They know that large multi-national corporations and Wall Street firms are earning billions in profits in some cases, paying nothing in taxes. They know that military spending has nearly tripled since 1997 and that the wars in Iraq and Afghanistan drag on and on and on - at great expense to our taxpayers.
What i don't get from this kind of thinking is the assumption that Barney Frank would do a better job than the FED if the congress starts to print money. If the FED is composed of a bunch of crooks,what makes you think that the mentally impaired in congress would do a better job? If the government starts to print money how much you wanna bet that it will be the same people running the show? The problem resides in intrinsic greed not in institutions and it has been like this since the beginning.
@ForexOracle -- well then, sadly, you don't believe in the great American political experiment. There is either Plan A: fix the Congress ----- or Plan B: return to serfdom.
Here's what I understand, and correct me where I may be wrong.
Money has to be backed by goods and services to have any value. Some choose gold (i.e. goods). But simply printing money at a time of falling GDP would cause inflation. right?
How would you explain creating money to employ the unemployed? Just trying to undestand some of my own arguments.
@unholysaint666 -- That is a function of controlling the quantity. If we just resign ourselves to controlling the quantity through a group of honest folks from each of the 50 states by taking an honest look at inflation numbers, then it solves the problem.
Here's what I understand, and correct me where I may be wrong.
Money has to be backed by goods and services to have any value. Some choose gold (i.e. goods). But simply printing money at a time of falling GDP would cause inflation. right?
How would you explain creating money to employ the unemployed? Just try to undestand some of my own arguments.
But wouldn't quarters lose all value if government is allowed to print an unlimited quantity of them? It would eventually take a hundred quarters to buy a loaf of bread, then a thousand, etc., like the Weimar Republic. If the gov were limited in the amount of quarters it could mint then that might work.
@michaelpshipley1 -- It's just a matter of controlling the quantity. If you do, you win. Don't you think if solving that one problem fixes everything else -- don't you think we could round up enough honest people to get the job done?
@michaelpshipley1 -- the control mechanism is an honest group of citizens sent from each of the 50 states to take an honest look at inflation and have in its power all the tools to control the quantity.
@heckler73 - Mr. Heckler, I can assume that you have no idea what my positions are -- or, for that matter, from whence our money comes. Your mis-use of the term "fiat" is disappointing. When we issue US bonds for sale, people buy them with debt-based money, most frequently US Dollars. "Fiat" money is any money order to be good for payment of taxes by the sovereign, not a derogatory term recently meaning non-metal money.
how do you ensure that you dont create too much money so that inflation doesnt also get created? I know debt wouldn{t be an issue but how do we ensure we maintain the buying power of our newly created paper or electronic money?
Bill, I have a question. Why not mint silver one ounce coins with the imprinted value of $1,000,000 on it and then pay off the debt in a few thousand silver ounces?
What would happen to US treasuries held by China and other foreigners? Would they continue to be honored in the new currency (with inflationary results)? Or would their value go to zero overnight?
Debt-free also doesn't solve the spending problem. Increased money expansion without increased productivity just increases the "hidden tax" burden on low wage earners.
@LordDyhalto -- it would only be inflationary if you did NOT proportionally raise the reserve ratio of the commercial banks at the same time, thereby keeping M1 even.
@LordDyhalto -- We are just exchanging Fed Reserve Notes and their electronic equivalents for U.S. Notes. As the new money replaces the old, you proportionally raise reserve requirements on the commercial banks so that M-1 remains flat.
@GtheMVP -- I understand your concern, however you are talking about giving up on the USA and fracturing into States. The MoneyMasters would love that. They always have -- they always will. It is only by the power of a rightly-formed Union that we -- and we alone -- can beat back the forces of neo-feudalism.
If the banksters are that mighty they will let no one live who tries.
But of course we only need one state run bank with accounts for all and complete control over the Money with 2/3 majority of votes. That would solve it. But they wont listen. They can not think out of the box.
Being a "johnny-come-lately" you probably already did talks on this: Just print one coin with $14,000,000,000 printed somewhere and call it done. Seems paying in quarters is a bit troublesome with all the trucks required and weight and storage. Seems though defaulting would be the same thing - to "give a coin or not to give a coin" - that is the question.
Great example using quarters. The solution is so simple yet astoundingly no one seems to get it. A question: what would happen to the IRS and taxation if the U.S. government tossed the debt-money banker system, and started printing their own debt-free money? Would there be a need for the IRS and would tax rates change?
@enginekid88 -- The IRS could be completely eliminated. Future taxation would only be necessary to remove excess money from the system, but I would not do it in such a convoluted, loophole-driven way.
Question, is it safe to deduce that taxes are an absurdity on the Federal level given that the government naturally has the ability to print its own currency, thereby rendering the perceived need for taxation useless? With the ability to print or mint its own money, why would there be a "need" to generate revenue through taxation?
I was thinking about trading and buying with coins, but then again the banks do lend them to you by interest. But this idea is amazing! sounds a bit silly but what's more silly than to continue being slaves!!!! God Bless you Bill!
Didacta10 3 months ago
Make $1 $2 $5 $10 $20 $50 $100 $1000 $10000 $100000 $1000000 $1000000000 coins, debt solved.
HWGuyEG 6 months ago
Did you disable the embedding option? If you enable embedding then you will get more views.
manilaenglish 6 months ago
Very effective video, Bill. Keep on the visual aids track, because it helps the uninformed viewers understand these concepts more easily.
You and I know that your message is actually pretty simple once you think it through, but it starts to sound complicated in the conveyance of the message. That's why I feel that a strict economy of words, and putting things in everyday language, is the key to educating the masses on this topic.
Here's to a global monetary renaissance in our lifetimes!
BRYAN351 7 months ago
I just want your opinion on Gold and Silver. If you think we will go on a world currency backed by gold, what price do you see Gold & Silver going to? Are you a fan of Mike Maloney and his predictions? Thanks
MalibuLimo 7 months ago
@MalibuLimo -- They will continue to go up. As far as Maloney -- never heard of him.
bstill3 7 months ago
aftonline - you think capitalism works? Then why did we bail out banks during the GFC? If true market forces were allowed to dictate our market, then these banks would have failed, gone into liquidation and a more efficient system developed to replace a broken system.
dmsydney 7 months ago
@dmsydney -- It depends on your definition. I abhore finance or monopoly capitalism, but an incentive-driven system is absolutely needed for a productive society and maximal freedom. How do we get there from here is the question.
bstill3 7 months ago
I just don't get this kind of thinking! They want Barney Frank printing the money instead of the FED. what kind of solution is that? If you think the FED is messing up just let the congress start printing it and you will see what hyperinflation really means.
ForexOracle 7 months ago
@ForexOracle -- You don't get it because you are too lazy to spend 15 minutes understanding it. Perhaps I can spell it out in few enough words so that your limited attention span doesn't wander. 1. We HAVE to fix Congress. That's our only hope to escape serfdom. 2. We, the people, have to recapture the money system. Congress sets an inflation target, and a Monetary Policy board made up of reps from each state implements it. The Fed is out of the picture.
bstill3 7 months ago 4
@bstill3 Honestly Bill I used to admire you because of your "money Changers" video. But now I see that you not only changed your mind on quite a few issues from the original video but you became one more person in denial. Would you answer me WHEN in the earths history somebody was able to set up an honest government? Are you claiming that an honest congress, senate and president is something achievable? Again I use to admire you sir. When did you start believing in fairy tales?
ForexOracle 7 months ago
@ForexOracle -- Then to whom would you entrust the power of we, the people? The bank? The "Market"? Wake up.
bstill3 3 months ago
Thanks Bill for taking the time out to answer my questions and keep up the great job of bringing the truth to the masses
popawilli 7 months ago
According to the US Mint website:
The United States Mint has eliminated the credit and debit card purchase of $1 Coins through its Direct Ship Program effective JULY 22, 2011.
Julia4a 7 months ago
$1 Billion [in dollar coins] That Nobody Wants
NPR story
Why is the Federal Reserve 'storing' dollar coins? These are US treasury minted coins and I assume they are the same as Mr. Still's quarters.
Anyone have an answer?
Julia4a 7 months ago
Really like your videos. You are quite the investigative reporter. I had never seen the red seal bills though I did see a silver certificate. Were those federal reserve notes too? Also are quarters issued by the treasury or are they fractional federal reserve note dollars? How did we get hijacked anyhow, and why can't we take it back?
ArgentPur 7 months ago
Sounds like an idea Robert Mugabe would approve of. The only reason capitalism works and communism doesn't, is that capitalism takes human nature and entropy into account. You can't just print money and expect people, and the economy to still work. In the words of the 7 Dwarfs "I owe, I owe so off to work I go". If the Government prints enough money to pay the people's debts, the money will disappear and more will be needed. And no work will have been done to earn it. Hyperinflation will ensue.
aftonline 7 months ago
@aftonline -- Here's an example of a guy who thinks he knows something, but obviously won't put in a single hour learning what's really going on. Of course you can't just print money and we all lie around eating bon bons! We need an incentive-driven society. If you want to understand my simple position, do some minimal amount of work yourself.
bstill3 7 months ago
@bstill3 Fair comment, but another point you need to consider is, how will the government pay for the precious metals required to mint 12 trillion dollars worth of quarters. By doing another banker bailout?
aftonline 7 months ago
@aftonline -- I use quarters for shock value. The gov could mint up 14 one-trillion dollar coins.
bstill3 7 months ago
@bstill3
Why not a one 14 trillion dollar coin?
RangerMcFriendlie 7 months ago
@aftonline check out Bills video on "The wizard of Oz". I think your missing the point. A dollar does not have to have a green seal (federal reserve note) to be legal currency. As Bill points out the green sealed money is borrowed and the older red seal is created! The value in the red seal monies would be based on money supply. Remember supply and demand..as the supply is reduced the value is increased. This would give the Treasury dept. direct control over inflation. No need for gold
excxflyr 7 months ago
@aftonline I don't think you truly understand Bill Still's proposal. He has said nothing about capitalism or communism. What he is proposing is a currency that is spent into circulation on items of public interest (roads, bridges,education, etc)instead of borrowed into circulation as is currently done. Any economy has a need for currency to facilitate trade and there is an amount of currency that is optimal. Read Bill Stills book "No More National Debt" and watch "The Secret of Oz".
agamemnon960 7 months ago
In what time frame do you think would be convenient to remove the Fed dollars with Government money? Because, one cannot replace all the old money with the new immediately, it would create huge problems for dollars holder ouside the U.S. ?
philonqi 7 months ago
@philonqi -- Just pay off the bond (Treasuries) as they come due. Siphon off the inflationary money by raising bank reserve requirements proportionally.
bstill3 7 months ago 2
I believe we should be able to write off most of the debt owed to The Fed. Of course, we should honor all debt to foreign and domestic investors. But the big banks underlying The Fed should be told "We've already paid you enough." This would knock our debt down to about half. And the debt owed to foreigners and domestic pension funds, etc. would actually bring stability to the change over to debt-free government currency. Start paying that debt down after the dust has settled a bit.
CornFlu 7 months ago
pay them back in 2007-2011 Presidential Golden Dollar coins.... worth about $7.65 for every $100.00
sammysmithazt 7 months ago
@zwizzleshire -- I've answered this many times above, but .... You would be correct IF you did NOT raise reserve requirements proportionally on the commercial banks as the new money (US Notes) paid off the old debt (Treasuries) and the Federal Reserve Notes were retired. If you replace them one-for-one, and end up with no fractional reserve lending, then M-1 remains level and you escape the debt money system forever.
bstill3 7 months ago
This is an idea that I never heard of before---Paying the national debt off with quarters! I doubt that our government will gather up over 14 billion in change. What about those presidential "golden" dollars that people seem to not want? Maybe we can use those. What about having the debt paid off with gold and silver? I have heard of that being a possibility. What do you think will most likely happen?
search4knowledge2000 7 months ago
@search4knowledge2000 - There is not sufficient gold and silver in the world to pay it off. I used quarters just for shock value. Most people don't understand the difference between debt-based money and debt-free money, i.e. coins and U.S. Notes. I think what will happen is we will be driven into a well-disguised international money backed in some way by gold -- a huge mistake.
bstill3 7 months ago
Question: what would that do to M1. Would federal reserve notes be retired permanently? How would income taxes be paid if they must be paid in dollars? What would happen to credit markets and credit cards? How can you kill fractional reserve banking?
ArgentPur 7 months ago
@ArgentPur -- What' the fuss here? We are simply exchanging one-for-one, one form of legit legal tender for another -- the debt-based Federal Reserve notes for the much older (and wiser -- and sounder) U.S. Notes. M-1 remains the same if you proportionally raise reserve requirements on the banks, ending at full reserve banking. The cost of lending would go way up, but that's a good thing.
bstill3 7 months ago
Not that it matters a whole lot, but would those tractor trailers be 48 or 53 footers?
Spectre8282 7 months ago
@Spectre8282 -- if memory serves, the average 18-wheeler can carry about 60,000 pounds. That's what I based it on.
bstill3 7 months ago
Thanks for having our back!
organichik 7 months ago
great report. But I'm afraid it's a little too late.
End game is just around the corner
a2zhandi 7 months ago
@a2zhandi -- Nonsense. As long as the Holy Spirit is present, there is a way for us to succeed -- because the alternative is just to terrible to contemplate.
bstill3 7 months ago
@bstill3 feds are currently closing access roads to public lands in the mid west. Colorado, Uta, idaho, Montana....
The UN is moving in!! Next there will be a nation wide spontaneous gun sweep. Hello NWO
That is NOT nonsense. It's reality. And in our very near future.
Thanks
a2zhandi 7 months ago
Brilliant !
carlosobscure 7 months ago
Thank you Bill!
eyewitness043 7 months ago
hey bill,with how the system is structured , wouldn't it present a negative end result if you just printed more money?If our reserve is low and we print that much money on top of the outstanding amount ,wouldn't the purchasing power of the dollar be lowered?The only way i think doing this would work is if money use to repay debt is not considered outstanding capital to be used in the calculation of the dollar's value.
sesshoumaru3st 7 months ago
@sesshoumaru3st -- I've answered this 100 times. Maybe I'd better make a YouTube just on it. It's all about being guided by an honest look at inflation numbers. Hold inflation to some agreed-upon ideal. For example, to keep per capita M-1 level, it has to increase.
bstill3 7 months ago
Respond to this video... Yes, you just can't print money without limit. That's silly. I've answered this in these comments several times and in several ways. Remember, it's not what backs the money that is the key question; it's who controls its quantity.
bstill3 7 months ago
Respond to this video... I've responded to this a bunch of times.
bstill3 7 months ago
4 mindless idiots voted
warisbs 7 months ago
While the coins aren't debt notes, they are minted by the actual federal reserve banks, aren't they? I thought that's why they had the P and D on them to mark which Fed mint they came from. But the principle sure is interesting, use NON debt notes to pay back the state debts. I like it!
brown55061 7 months ago
@brown55061 -- no, they are issued under the authority of the Treasury through the Bureau of the Mint.
bstill3 7 months ago
@brown55061 - No. They are minted by the Bureau of the Mint -- under Treasury.
bstill3 7 months ago
National Debt: Insert Coin Here.
whahas 7 months ago
American people understand that the wealthiest people in this country are becoming wealthier while their effective tax rates in recent years have declined to the lowest level in history. They know that large multi-national corporations and Wall Street firms are earning billions in profits in some cases, paying nothing in taxes. They know that military spending has nearly tripled since 1997 and that the wars in Iraq and Afghanistan drag on and on and on - at great expense to our taxpayers.
STEEEVVYZ 7 months ago
your a wise man bill!
pkimrey 7 months ago
the treasury could issue notes
drakeallen55 7 months ago
Keep them coming Mr. Still! Great, wonderful work! God bless you!
thepostman1 7 months ago
Best idea to freedom, employment and allowing grandma to stay in her home ;)
yaahme 7 months ago
The US should just come out with a million dollar coin. Canada has a few of them.
ASilversVoice 7 months ago
When we elect Ron Paul as president, he needs to appoint you as Secretary of the Treasury!
ZeroFossilFuel 7 months ago
i love your vids, Bill~
999silverhk 7 months ago
What i don't get from this kind of thinking is the assumption that Barney Frank would do a better job than the FED if the congress starts to print money. If the FED is composed of a bunch of crooks,what makes you think that the mentally impaired in congress would do a better job? If the government starts to print money how much you wanna bet that it will be the same people running the show? The problem resides in intrinsic greed not in institutions and it has been like this since the beginning.
ForexOracle 7 months ago
@ForexOracle -- well then, sadly, you don't believe in the great American political experiment. There is either Plan A: fix the Congress ----- or Plan B: return to serfdom.
bstill3 7 months ago
WAKE THE HELL UP AMERICA! --- Join the Revolution
-
Read “Common Sense 3.1” at ( w*revolution2.osixs.org )
-
We don’t have to live like this anymore. "Spread the News"
FIGHT THE CAUSE - NOT THE SYMPTOM
MorpheusX001 7 months ago
Useful for those who say all money is debt
axis4peace4 7 months ago
Don't furlough the U.S. Mint employees. Let's get busy making Susan B. Anthony dollar coins and pay off the $14 Trillion in Federal Reserve Notes.
TonyUnplugged 7 months ago
if only
ThisIsNotPictureTube 7 months ago
Good job Bill!
cabl3guy2012 7 months ago
But Bill wouldnt that debase the currency?
Here's what I understand, and correct me where I may be wrong.
Money has to be backed by goods and services to have any value. Some choose gold (i.e. goods). But simply printing money at a time of falling GDP would cause inflation. right?
How would you explain creating money to employ the unemployed? Just trying to undestand some of my own arguments.
unholysaint666 7 months ago
@unholysaint666 -- That is a function of controlling the quantity. If we just resign ourselves to controlling the quantity through a group of honest folks from each of the 50 states by taking an honest look at inflation numbers, then it solves the problem.
bstill3 7 months ago
But Bill wouldnt that debase the currency?
Here's what I understand, and correct me where I may be wrong.
Money has to be backed by goods and services to have any value. Some choose gold (i.e. goods). But simply printing money at a time of falling GDP would cause inflation. right?
How would you explain creating money to employ the unemployed? Just try to undestand some of my own arguments.
unholysaint666 7 months ago
@unholysaint666 -- Completely not correct! I've produced two documentaries on just this point plus a new book. I'm not going to repeat it here.
bstill3 7 months ago
@unholysaint666 -- Not if it is spent into the real economy instead of the big bank's economy.
bstill3 7 months ago
LOL Right on the money!!!
ChrisnStarry 7 months ago
Congress should start paying the bills with all those idle dollar coins sitting in vaults!
addbball 7 months ago
Wouldn't $10 coins be easier? There is nothing stopping Congress from making higher denomination coins! :)
TheBullionBull 7 months ago
@TheBullionBull -- Yes, exactly. I just used quarters for shock value. You could pay with pennies, or billion dollar coins. Whatever.
bstill3 7 months ago
But wouldn't quarters lose all value if government is allowed to print an unlimited quantity of them? It would eventually take a hundred quarters to buy a loaf of bread, then a thousand, etc., like the Weimar Republic. If the gov were limited in the amount of quarters it could mint then that might work.
michaelpshipley1 7 months ago
@michaelpshipley1 -- It's just a matter of controlling the quantity. If you do, you win. Don't you think if solving that one problem fixes everything else -- don't you think we could round up enough honest people to get the job done?
bstill3 7 months ago
@michaelpshipley1 -- the control mechanism is an honest group of citizens sent from each of the 50 states to take an honest look at inflation and have in its power all the tools to control the quantity.
bstill3 7 months ago
Mr. Still,
I am assume you haven't caught-on to the ideas of Modern Monetary Theory (or Neo-Chartalism).
Operationally, sovereign gov'ts don't "borrow" fiat money; they SPEND it into existence.
There is a difference between a currency issuer, and a currency user.
Currently, the problem with gov'ts is their inability to comprehend these fundamental principles, which can lead to austere mistakes.
It is as if the world is still stuck in the gold-standard mindset.
heckler73 7 months ago
@heckler73 - Mr. Heckler, I can assume that you have no idea what my positions are -- or, for that matter, from whence our money comes. Your mis-use of the term "fiat" is disappointing. When we issue US bonds for sale, people buy them with debt-based money, most frequently US Dollars. "Fiat" money is any money order to be good for payment of taxes by the sovereign, not a derogatory term recently meaning non-metal money.
bstill3 7 months ago
Excellent.
iknownothingnow 7 months ago
I just viewed your Secret of Oz video. You make a lot of sense.
hargieboo 7 months ago
They still mint dollars and half dollars
mahavira108 7 months ago
@mahavira108 -- Of course. I used quarters for shock value. You could use pennies, or billion dollar coins.
bstill3 7 months ago
Let's print up some $1,000,000 bill "Greenbacks" and save on money printing and on shipping
BigBearHuskyMusher 7 months ago
how do you ensure that you dont create too much money so that inflation doesnt also get created? I know debt wouldn{t be an issue but how do we ensure we maintain the buying power of our newly created paper or electronic money?
charronfamilyconnect 7 months ago
good to see you smile
BTinHD 7 months ago
I LOVE YOUR IDEA BILL...........Treasury could issue a "Special Kennedy Dollar", made of clay, and painted silver.
anolmec 7 months ago
Funny but I like it
cfosnock 7 months ago
why not use the 2 dollar bills
canyonrafters 7 months ago
@canyonrafters -- That would work even better. The point is I used quarters for shock value -- plus, they jingle.
bstill3 7 months ago
Bill, I have a question. Why not mint silver one ounce coins with the imprinted value of $1,000,000 on it and then pay off the debt in a few thousand silver ounces?
nmreich 7 months ago
@nmreich -- that'll work fine. I used quarters for shock value.
bstill3 7 months ago
I'm just trying to play devil's advocate here.
What would happen to US treasuries held by China and other foreigners? Would they continue to be honored in the new currency (with inflationary results)? Or would their value go to zero overnight?
Debt-free also doesn't solve the spending problem. Increased money expansion without increased productivity just increases the "hidden tax" burden on low wage earners.
LordDyhalto 7 months ago
@LordDyhalto -- it would only be inflationary if you did NOT proportionally raise the reserve ratio of the commercial banks at the same time, thereby keeping M1 even.
bstill3 7 months ago
@LordDyhalto -- We are just exchanging Fed Reserve Notes and their electronic equivalents for U.S. Notes. As the new money replaces the old, you proportionally raise reserve requirements on the commercial banks so that M-1 remains flat.
bstill3 7 months ago
you are a wise man..... its a shame everyone is so damn stupid that they cannot understand what you are taliking about..
keep up the good work
masterplumbermark 7 months ago
THe only problem Bill is that we can't trust a small group of people to look out for our best interests, look where it's taken us.
We need to start moving away from the state, there's little difference between the federal reserve printing funny money than congress.
A very simple solution is allowing for competing currencies.
I'd lvoe to get you and Stefan Molynuex together
GtheMVP 7 months ago
@GtheMVP -- I understand your concern, however you are talking about giving up on the USA and fracturing into States. The MoneyMasters would love that. They always have -- they always will. It is only by the power of a rightly-formed Union that we -- and we alone -- can beat back the forces of neo-feudalism.
bstill3 7 months ago
They will never do it!
If the banksters are that mighty they will let no one live who tries.
But of course we only need one state run bank with accounts for all and complete control over the Money with 2/3 majority of votes. That would solve it. But they wont listen. They can not think out of the box.
pcuimac 7 months ago
Great explanation Bill! I'll be sharing the heck out of this one.
RJazz117 7 months ago
LOL...I was wondering how you could have missed the measuring cup in the frame
Didn't realize the coins were not federal reserve "debt" money.
Too bad the banks own the govt...
flahr1 7 months ago
"big banker vultures sucking the life out of the american economy" - INDEED!
wtfbollos 7 months ago
Can't wait to read your new book No More National Debt. Lets keep the pressure on the Critters in DC.
CALTECH007 7 months ago
Brilliant - Bill!!!!!
xeppo 7 months ago
Brilliant! How about "electronic quarters"? :D
darkartproductions 7 months ago
ive always wonder why our coins never has that debt saying on it...
docdoom714 7 months ago
I sure do like how you explain things. So simple, even a politician can understand it.
westernciviliznation 7 months ago
Genius
IrelandbyDefault 7 months ago
lol a trillion dollars in quarters..pretty cool
etzel33 7 months ago
Ahah ben you Are amazing! Greetings from italy
Valdris1987 7 months ago
Being a "johnny-come-lately" you probably already did talks on this: Just print one coin with $14,000,000,000 printed somewhere and call it done. Seems paying in quarters is a bit troublesome with all the trucks required and weight and storage. Seems though defaulting would be the same thing - to "give a coin or not to give a coin" - that is the question.
olecodjur 7 months ago
@olecodjur -- Well, that's why I said -- tongue in cheek -- "now, weight may be a problem."
bstill3 7 months ago
Great example using quarters. The solution is so simple yet astoundingly no one seems to get it. A question: what would happen to the IRS and taxation if the U.S. government tossed the debt-money banker system, and started printing their own debt-free money? Would there be a need for the IRS and would tax rates change?
enginekid88 7 months ago
@enginekid88 -- The IRS could be completely eliminated. Future taxation would only be necessary to remove excess money from the system, but I would not do it in such a convoluted, loophole-driven way.
bstill3 7 months ago 2
I didn't know the US 2 dollar bill was printed by the government , very interesting.
hablerz 7 months ago
So the problem is that the banks and governments can manipulate debt? Or maybe the value goes down if we print w/out debt?
lhooq21 7 months ago
great reporting , keep them coming!
iossysm 7 months ago
Brilliant! I'll pitch in every quarter I can get my hands on! Thanks much...
BourneAccident 7 months ago
What about those Presidental $1 coins? At least it would take fewer truckloads. Great ideas Bill, I just hope soon they will listen.
trademarc66 7 months ago
@trademarc66 -- You are correct. Quarters was my little joke.
bstill3 7 months ago
Please, Please God, make Bernanke look at this video!
MrJizez 7 months ago
Question, is it safe to deduce that taxes are an absurdity on the Federal level given that the government naturally has the ability to print its own currency, thereby rendering the perceived need for taxation useless? With the ability to print or mint its own money, why would there be a "need" to generate revenue through taxation?
jmcclellan54321 7 months ago
@jmcclellan54321 -- A sovereign only needs taxes to remove excess money from the system, not to keep the people in servitude.
bstill3 7 months ago
thank you bill
badaboomrock 7 months ago
Great video Mr. Still. Thank you for posting these
seks03 7 months ago