Web of Debt - An Interview with Dr. Ellen Brown (excerpt)

[adamcrookedsmile]

I wonder if the gold standard is really the solution to the following problem:

The money supply cannot be increased without creating debt.

[jackson32]

If you want to see a complete debunking of Ellen Brown and Web of Debt google "Ellen Brown's Web of Debt Is an Anti-Gold Currency, Pro-Fiat Money, Greenback, Keynesian Tract. Here, I Take It Apart, Error by Error"

[AwakenFromTheSlumber]

@jackson32 It would not be feasable to have a gold standard, if all currencies in the world had to be backed by Gold, where is all the gold comming form?.

[powerbunZ]

Ellen commits a logical flaw without realizing it. Gold and Silver are market created money that cannot be counterfeited by governments. Any government created paper money is instantly vulnerable to corruption and inflation. Her solution to the problem of government abuse of money is MORE CONTROL OF MONEY BY GOVERNMENT! They ignore the regulations already (Article one, sec. 10 U.S. Constitution), why would they suddenly pay attention to new rules? This interview shows that Ellen is very Naive.

[powerbunZ]

Why not remove the government from money altogether and let people trade whatever and however they want? Let the market pick the best medium of exchange. Do you think people would choose pretty pirces of paper backed by worthless government promises, or gold and silver coin?

[DecentralizedByGuilt]

In the rest of the interview she talks about how Abe Lincoln printed interest free money separate from the FED called "greenbacks"

I wish she would have also mentioned that JFK also printed interest free money in the treasury department, separate from the fed. look up JFK dollar. (there might be a special name for them, but i forgot what it is,lol)

[17Spartacus76]

Nationalizing the Fed does nothing to solve the problem, which is money created by government fiat. Whether the notes are issued by a private bank, or the treasury, is inconsequential. The problem is with the arbitrary expansion of the money supply and the havoc that unleashes on interest rates. That's why gold and silver became money in the first place. They have a built in mechanism to regulate this. The idea that there isn't enough around is nonsense.

[DecentralizedByGuilt]

@17Spartacus76

Nationalizing the FED absolutely would help. It would do away with the interest being charged for use of our own money.

Fiat money is not the problem.

Trade debts to foreign central banks is the problem. You do not have enough gold/silver to pay the current debt to foreign central banks, and the US is running up an additional trillion dollar a yr trade debt on top of the trillions she already owes to foreign central banks.

[robkim55]

How do we reduce these Trade debts? or how do we settle these trade debts to foreign central banks?.

[DecentralizedByGuilt]

damn good question!

We could pay them off little by little. we can pressure congress and the senate to have only balanced trade agreements. and tell everyone you know to buy USA made products as much as possible.

[DecentralizedByGuilt]

The US has more fiat out there than she has in gold or silver. So right out of the gate the value of gold would be reduced by 400% Because of the fiat and all the debt/credit floating around. So not only would the gold standard reduce the value of gold, but by running up a trade deficit of a trillion a year, even if you had enough gold/silver to pay the current debt, which you do not. You would still go broke with such outrageous unbalanced trading. a trillion a year in trade debts

[DecentralizedByGuilt]

The US has had a trade deficit for 36 years straight. The unbalanced trade allows the US to buy up the world's resources, labor, and companies for a debt that will never be paid. Sir. Regardless of what money system the US uses, she will always be broke because of her unbalanced trade debts. Only equal balanced trade, will solve the long term problem. Balanced equal trade creates jobs on both sides. It's unbalanced trade debts that cause our own dollar inflation, the spreading of debt.

[DecentralizedByGuilt]

There are more dollars out there than the US has in gold. Going on a gold standard to cover the amount of dollars floating around, it reduces the value of gold by 400%

I said that before, but you don't seem to understand it. anyway...

[DecentralizedByGuilt]

You do not have enough gold to pay the current debt to foreign central banks. With the free trade agreements you will continue to have trillion dollar trade debts. So, you not only have to give all your gold to foreign banks right away, but you have to keep digging for more gold, a trillion a year, to pay for your foreign products.

The US went off the gold standard so as to not give all her gold to foreign banks form the debt acquired from the Vietnam war.

[DecentralizedByGuilt]

You're asking for a lot of very wealthy people to take million (in some cases billion) dollar loses. bec there is more fiat currency than gold. It will never happen. you're chasing a pipe dream that can in no way work whatsoever. Not the way things are now. Gold is a bankers tool. He who has the gold makes all the rules. The real value has always been production and consumption. Gold is not a necessity Mr Midas touch!

seriously dude. You have to look at the world today, not a long time ago.

[17Spartacus76]

I have a little experiment for you, Mr Fiat Touch. Why don't you try printing your own money and paying for things with it?

That's what you want right? Or do you want government to write on it's own pieces of paper and threaten people with death or imprisonment if they refuse to take them?

Those are your options. If you have something else, then I'd love to hear it.

[DecentralizedByGuilt]

Balanced trade creates jobs on both sides.

when you don't owe foreign central banks trillions of dollars in promises. why you get to buy up te world's resources with a paper debt that will never be paid.

I

[DecentralizedByGuilt]

say the solution, is not gold, fiat, or w/e

the solution has always been fair trade (bartering)

You dint have enough gold to pay the current debt, and you wouldn't have trillions more each year to keep on paying in gold/solver for the products you purchase. because you live in a consumer nation. a jobless consumer nation. fun fun fun

[DecentralizedByGuilt]

Gold is what got us into this mess in the first place. Because you have been programed, like everyone else, to believe that success is measured by hoarding- money, resources, property -in a world of abundance. We can do so much better than worshipping greed markets and it's exploitation of land, resources and people.

Whatever money system you have, without fair trade agreements you go broke. Canada does not have balanced trade. In fact there are not many countries that do.

[17Spartacus76]

In order to debate, you have to support your opinions with facts. So far all you've done is blame our crisis on a currency that wasn't even in circulation. Call me names, and avoid the subject with rants about greed and exploitation.

Face it, you're way out of your element here. If all you can do to defend fiat money is rant and rave then you've already lost the debate. I've actually done the research, you might want to try it too.

[DecentralizedByGuilt]

Don't flatter yourself.

I have a ton of videos on economics. Many with economist Micheal Hudson.

I've been around the block a few times.

You seem to ignore how it's the debt to foreign central exchange banks from the US being a now consumer nation and not a producer nation, is the root cause. For job loss, and inflation.

[DecentralizedByGuilt]

wrong. The private FED charges interest on our own money.

This is why JFK printed money in the treasury department interest free. Abe Lincoln did it to.

The problem does not lie in bubbling your own economy to keep your own people fed and working. The problem comes with you use a debt to purchase products from foreign countries! They want something, other than bad assets.

[17Spartacus76]

Sorry, but you're wrong. 94% of the Fed's income gets reimbursed back to the treasury. That is a fact. Whether the central bank is private or public is inconsequential, you have yet to refute that. The greenbacks caused the recession of 1873, JFK tried to re-start the coinage of silver because he understood what real money was. You are shilling for central bankers.

Canada has a trade surplus, but you fail completely at defending your opinion.

[DecentralizedByGuilt]

Sure they reimburse the treasury department.And bailout all their buddies to. And don't even take the debt away. Look dude, the reason te FED went privately owned with the help of JP Morgan and Wilson, was the old argument of you don't want the government to have full control of the money. There are many respectable people on each side of the argument.

[DecentralizedByGuilt]

My personal theory is a little different. But i see no point in explaining it to you. since i must be shilling for the bank,lol and there's really no way to make my theory happen. So lets stick with reality.

The reality is you don't have enough gold or silver to pay the current debts, or to cover all the money the US has out there. and with trillion dollar a year trade debts, you will always e digging a hole regardless of what you think your money coupons for goods and services are backed by.

[DecentralizedByGuilt]

The US once produced 80% of what she consumed. Canada is a producer nation, mostly to the US, how silly of them, the US doesn't back her dollar by gold, so all Canada has is fiat computer numbers, but hey, keeps people working and fed, to bad they are destroying their land for resources at such an alarming rate!

and yes the greenbacks did cause a big mess. at the time. but the whole country was i a mess at the time.

[DecentralizedByGuilt]

The point in mentioning JFK and Abe was that legally and constitutionally it can be done.

[17Spartacus76]

"The problem comes with you use a debt to purchase products from foreign countries! They want something, other than bad assets. "

Congrats, you just made an argument for the gold standard!

What do you think gold is? It's definitely not debt. This whole 'it's a bankers tool' is utter nonsense and your own statements prove it.

[DecentralizedByGuilt]

congrats! you just gave away all our gold to foreign countries, some of them even have nukes pointed at us. go china!

[MrDuffy81]

End the federal reserve AND the federal government.

I'm sick of the American Empire, and I KNOW that I'm not the only one...

Power to the people and to the states.

[DecentralizedByGuilt]

@MrDuffy81

@MrDuffy81 Step One: Constitutional Direct Democracy. Read About it at: vote. org

24 states already have it, the rest will have it, ad one day we will have it nationally. why? Because people want to vote on the issues, and not for the politicians. CA has it, this is why the people voted on medical marijuana and not the politicians. We have it here in NV. this is why prostitution is legal here.

[MrDuffy81]

So...ever fucked one of those whores???

[DecentralizedByGuilt]

u kiss ur momma with that mouth?

[MrDuffy81]

just on the cheek...

[michaelispan]

Machiavellian Machinations

[MrDuffy81]

What does that mean, please...?

[michaelispan]

Read " The Prince"

by Nicolo Machiavelli

[klard]

Yes she is right on. The Congress of the United States should just take over the Federal Reserve. That is what the Constitution mandates. This entire Federal Reserve enterprise has been illegal for 97 years now.