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SR 23: 6-Step Pathway to Economic Freedom

by Bill Still • 6,993 views

Unveiling a new 6-Step pathway to free ourselves from the shackles of the national debt system.

@MrCrouchback -- a per capita amount was mentioned by Milton Friedman in a phone conversation he had to me, but ultimately, he believed that the final determinant should be an honest assessment of inflation -- which we certainly don't get today. Keep the inflation rate to basically match population growth. This is all in the realm of fine tuning and I don't pretend to have the expertise to do that.
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Do you think that eliminating national debt will also put inflation to rest and protect the purchasing power of our money when it can be freely printed by the government? Also how to we put a tap on excessive Money printing by the government if money can be created into thin air(only there is no debt attached to it) Just curious of your opinion? Thanks!
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Your monitary reform sounds like such a simple and great idea. Why aren't the politicians talking about this? Have you heard Romney say anything? I haven't. Even Ron Paul is confused about this ( wanting to go back to a gold standard). Is there any prominent politicians out there that get this idea that we can prop up?
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you're fully right...we can be worriless like these birds :-)
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Glad to see you are Still working for monetary justice, keep up the good work, but I think you need a vacation, and so do I.
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@robhdg -- It doesn't make a lot of common sense to me, but I admit my ignorance. Basically my position is that I don't mind competing currencies -- even gold coin. To quote the great UK monetary reformer, Dr. Bob Welham, "in order to serve the public interest effectively, money must be valueless ...." If there were no profit built into the competing currency, it would have some expense built into its use and therefore be more expensive to use.
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@Iusedtohavemojo You have plenty to be happy about, except maybe immigration. i hope Croatia doesn't join the EU, but we're being forced.
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@charronfamilyconnect -- Please watch all of SR 23. I explain that.
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@charronfamilyconnect -- At least we, the people would have the final say. Right now, we have zero say.
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Thanks Bill! Always clear and constructive.
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With regard to my previous comments I have one question to Bill Still. How about commercial lending ? In your view fractional reserve lending would be reduced because of increasing of obligatory reserves of commercial banks. Wouldn't it have a negative impact on GDP and country development because of less commercial lending?
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@search4knowledge2000 -- I'm not so sure about hyperinflation. This is looking like a deflationary scenario; just as all the worst depressions. I think probably the baseline driver is the price of your home. Is it going up or down? When it starts to rise again, then worry about hyperinflation.
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How do we control the money supply without creating inflation when many people have different ideas about how much is enough and who should get what and who deserves what etc.....
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It's going to be upon the next generation to institute something like this. The old generation aren't exposed enough to this information.
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@uploadJ -- Well, I'm sure it works pretty well for bankers. However, being able to charge interest on 10 to 50 times the money you actually have is fraud in my book.
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@bstill3 it works well for bankers because there is no risk on their part and there is zero MARKEToversight. if peoples money was at risk, they would take a lot more notice what the banks were doing with their money. they might also CHOOSE to deposit their money in a money warehouse or keep it under their mattress if they were unhappy with the risk. understanding how the deposit guarantee kills the little man is counter intuitive therefore the banks will continue to rape us forever!
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I agree with all of it, especially "Fair Trade". I'm a big Ron Paul supporter but that is one area where I disagree with him (I'll still vote for him over anyone else every time). I look at trade in tiers. Domestic, regional & international. We have reversed the paradigms on the domestic & international. We need to massively deregulate domestic trade and implement a non political fair trade system on the international tier. I have some ideas for how to do this. -
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@bstill3 how cost effective it is, is anyones guess. I think these currencies would be useful where shortages of FRNs occur. The only reason I bring this up is because I doubt we will make any progress against the Fed. It may be inefficient but I think it's important for individuals and communities to have an alternative to Fed notes
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This man is full of wisdome. It's good to have him among us and speak freedome. His documentary the money masters opened my eyes.
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(Cntd. from previous post.) On the other hand no more national debt could cause that the existing/old debt would rise in price pushing further down interests. Why? Because central and primary banks would be cut off of the fresh debt and interests supply. No fresh supply of debt any more could make the old debt very precious. And even US dollar (red stamped) could rise in value because the world would know that reckless borrowing had ended. Lili.
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@perkywa07 - I agree, but it would be more difficult to get a Congress to pass that because 40% of the debt is owned by pension funds, etc. -- average people.
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@asbestosicould -- Yes, but we can't be diverted by the silly goldbug argument. Remember, most of world "good deposit gold" is held by the banks and central banks.
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@58robbo -- don't agree. I'm not against interest! Interest is an absolute necessity because of the time-value of money. If interest were not allowed, there would be no lending. It's charging interest on money that is created by mere bookeeping entries that is the very definition of usury and is a fraud and should never be allowed.
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Sorry Bill, have to disagree with you here. there is nothing wrong with fractional reserve banking!!!! there is only something wrong with GOVERNMENT GUARANTEED FRACTIONAL RESERVE BANKING! as a libertarian, i believe that gambling should be legal and unregulated. it is up to the gambler to make sure that the bookmaker can meet his obligation.
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This is great and all but congress doesnt listen to us so how do we get the ball rolling? Im sure theyre going to make sure ron paul isnt elected and most americans dont know this federal reserve stuff. The president is a puppet of the banks so what do we do?
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very good, I totally agree! Creating awareness is not enough I am afraid. How can you change things when the people in power are mafia types paying themselves 100 million per year (R. Rubin), when most politicians are corrupt to the core. They do not want change.
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I´ll use more coins. Thanks bill!
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@mikemcdonald113 -- The debt is is the form of US Treasury bonds. Read my book.
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Bill, with many people saying that our paper money, aka federal reserve notes, eventually becoming worthless, maybe the American people should focus on saving all their quarters and spare change. I have a jar that I am going to use to fill it up with change that I am saving. What do you think about Americans saving up their spare change to prepare for a hyperinflation and depression? I have stocked up on silver, a few months worth of food and now I am planning on stocking up on change.
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@uploadJ agreed, there is nothing wrong with fractional reserve banking. the problem is government guaranteed fractional reserve banking! if someone wants to earn interest they have to assume the risk of acquiring that interest. otherwise what they need is a fee based money warehouse!
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This video is very astute in its observations and solutions. Our current system is genius if you think about it. How do you create a monetary system that fully 'captures' the non-elite populace whether they are spend thrift debt hogs or savers? Just create a currency in which every bit of paper currency IS debt and has interest associated with it. No different from European feudalism of the past; substitute farmland/food for debt money.
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When congress increased the debt ceiling, congress just stole $1.5 trillion from the savings of grandma who keeps her money in a savings account. Ending the fed may force interest rates higher, preserving her saving. Step 5, seems to cover it. Some inflation may actually be good even Milton Friedman recommended a 3% inflation rate. Thus if the debt/money supply is $10 trillion, congress would get a check from the treasury of $300 billion for the next year. The auto-fed seems best.
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@58robbo -- Again, your gambler analogy does not hold. This is not about risk; it's about counterfeiting a national money and thereby stripping the wealth of the nation without risk. The only thing that has brought the big banks down is pure greed. As the head of Citi said in Cong. testimory, "when the music is playing, you gotta get up and dance." Banks have a no-risk advantage with fractional lending. It's not fair.
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Sparrows are smart little birds. Years ago, I raised an orphaned sparrow that I found under a tree for a month before it was mature enough to venture out on her own. I was amazed at the intelligence and emotions exhibited by that little "Trinket," which is what I named her. Yep, too bad politicians aren't as smart, or as precious. Hell, if they had found out about Trinket, they probably would have arrested me for keeping a wild animal as a pet.
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I feel bad for bstill because he is burdened with so much knowledge. He is a genius in his own right and nobody else can or will know what he knows unless he teaches others. Therefore he has to make movies and hope people watch them or else his will be alone with his knowledge forever.
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What are your thoughs on time based currencies Bill? I think that people have the power to create their own currencies. The problem is that we have become so used to using FRNs and we are too lazy to do anything different. I think that community type currencies could also solve major labor disputes. If the workforce is semi-subsistence, labor rates have to make it worthwhile to match their informal income. Don't know if that makes any sense to you?
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@davetek490 -- a very astute comment. Boy, the comment "hits" are pouring in. I think I've finally started to break out of the small monetary-reform-vs-goldbug-community. These are very interesting comments and arguments.
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-Money is the means of trade and should never be made scarce. It´s the lubricant of the whole machinery. In the future we will probably have a global fiat-currency. (and plenty of it) ...is that a part of your new fair-trade-concept? Population-growth + global-trading = money-sacristy. ...lots of growth is needed for the poor. If the value of dollars goes down more perhaps the US will stop bombing people! (destroying markets) Than again poverty kills more than war. Any thoughts on that? PEACE!
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Hi, i am a big fan of yours and i explain everything to my wife and friends. Do you know anything about the Norwegian money system? The goverment here decides the inflation level but the Norwegian central bank "prints" the money. However the state owns the central bank in Norway. There are only optimists here and i think about 99% of population dont think Norway has debt because its NEVER discussed in media.We are in 8 place worldwide in external debt according to CIA factbook. Any comments?
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WHY do "we" have to pay off a debt to Banksters that was created by an illegal and unconstitutional system? The BEST course would be to VOID the debt and THEN issue Treasury Money.
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Don't they already do this through the federal reserve, i.e. printing money, is this debt based money, if so who holds the debt?
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YOU ARE RIGHT THE BROKERS AND BUISNESMAN IN WALL STREET AND OTHER BANKERS ARE DESTROYING OUR WORLD
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@mossylog8 -- because you PROPORTIONALLY raise bank reserve requirements so that in the end, you end up with no national debt and full reserve banking. OPEC will have no choice. The only thing that will change to the eye is the currency will have the red seal instead of the green seal. Red is debt-free $; green (Fed Reserve Notes) is debt-based. The U.S. dollar (red-seal) will remain the reserve currency.
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I was thinking about your "valueless money" idea. I thought that if this was accepted , it was so important for Congress not to overspend that there would have to be a new amendment to the Constitution whereby Congress can't spend what they don't have. But history shows that banksters will go so far as to instigate wars just to ensure that such an obligation could not be kept, such as the instigation of the Civil War with the help of Albert Pike.
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@davetek490 Yes, Genius current system. So Genius that our governent had to bailout every major bank in 2008. If they hadn't done that, every major commercial bank in the world might have gone down. Failure of Capitalism, by pure greed!
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@charronfamilyconnect How does your body know how much blood to make to keep your body going? How does it know to make more blood as you grow? It's as simple as filling a cup to the top without overflowing.
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Great episode Bill. You are truly an original thinker. Actually I think the idea of paying off the national debt in 25 cent coins is rather elegant. It will get the job done and also treat the central bankers with the contempt they deserve. The sooner the better.
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I don't think signing executive orders for monetary reform is good for the President's health. This also means the executive order can be quickly "overturned," and therefore not good for the nation's health (JFK). A large group such as Congress enacting legislation is a safer option with more lasting results
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How can paying off the national debt with newly created money (14 plus trillion) NOT be inflationary? I don't understand. Will OPEC even accept this money in exchange for oil, and what currency will become the reserve currency in which commodities are priced?
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Thats right we don't need a national debt!
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@mishuuae1 -- the cost would be higher, but that's a good thing. We all are too much in debt on too thin a margin.
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I love your line, "I'm still reporting on the state of the economy". Love your videos, keep up the great work!
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Those birds are really cute! About paying the debt - would this not put the new currency on a bad start? I mean, couldn't the President or Congress simply declare that the former system was simply a FRAUD, and not repay any of the banks, and only repay debt to non-banking creditors? I mean the debt is already so high beyond anything reasonable, re-paying it would basically mean giving in to a fraud and even reward the banksters, right?
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Without debt they can not own you and they will be without excuse for your enslavement to them
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@richco7773 -- No, I just can't stand the crazies who spew profanity. I have 4 kids. They read this stuff.
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@Iusedtohavemojo - Norway has a relatively high national debt - 60% of GDP - but it is very healthy because it has a huge export positive of about $60 billion per year, probably primarily because you have oil. Also, your government maintains a budget surplus -- income is bigger than expenses -- of almost $40 billion. In addition, you did not join the EU, so you still have your own sovereign money. This is very good.
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Comment pending approval. No first ammendment hear. Bye bye American Pie!!!
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Make all the banks have a limit of banks to five. Make all the mega-bank executives tellers. The private Federal Reserve send all of the to the FEMA Camps. Seize all there personal assets under the Rico Act. Raise the tariff's and bring back the jobs. make a law that anything sold to the government be American made. Flat tax lay-off the IRS. End the War folley's and put the soldiers on both borders.
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I once tried to explain the current financial system to a friend of mine. I tried to explain that banks create money (A) out of nothing and demand interest (B) on top of it, and since the sum of the existing money is always less than the outstanding debt, a loser is always predetermined - the guy who looses his house of company to the bank. The system basically amounts to theft or a pyramid-scheme. Guess what - we even watched "money as debt" together, but he still could not grasp the flaw.
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You are the MAN! I loved that whole thing on the Fed and banking you did 20 years ago! I'm glad to see your still at it!
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@MrCrouchback - oops, missed your other question. U.S. Notes would replace Federal Reserve notes on a one-for-one basis basically. As you pay off the Treasury bonds with U.S. Notes, you destroy an equal amount of Federal Reserve Notes.
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I fully support idea of no debt on national level by money creation as Bill stated. No debt means no costs of interests for such a debt mostly payable to foreign banks. It also means probably lower interests because one chain of competition for debt would be broken. National money printed/created by Treasury (not by FED and commercial banks) could boost public and business confidence which would improve social mood necessary for any permanent recovery. ( to be cont.....)
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@TheHorsenation -- True, but from a practical political perspective probably a non-starter. Your idea is the Jubilee and it's a good one and has been around for 3,000 years -- battle tested.
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Hmmm ... actually, fractional reserve banking works pretty well, except, when fraud is sponsored like congress passed the CRA (Community Reinvestment Act) and federal authorities threatened the banks if they DIDN'T make those sub-prime loans ... So, we need to work on congress and stupid laws, not the Federal Reserve System ...
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I'm "Still" reporting on the economy.. haha, get it? ba-da-ching
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