The following link will take you to a portion of a talk given by Mervyn King, Governor of the Bank of England. The complete talk is below with the portion given on this video highlighter in red. I have inserted some comments in blue.
http://www.youtube.com/watch?v=Mz3VzUz8b_w
Mervyn King: Changes in the UK economy and the role the Bank of England can play in supporting them
Speech by Mr Mervyn King, Governor of the Bank of England, at the Black Country Chamber of Commerce, West Midlands, 19 October 2010.
* * *
Ladies and Gentlemen,
It is good to be back in the heart of Britain – in the Black Country – because the Bank of England has strong connections with the area. Both I and Deputy Governor Paul Tucker hail from Wolverhampton. And I am delighted that all nine members of the Bank’s Monetary Policy Committee are in the West Midlands this week on an MPC road-show to see for themselves the state of business in the region.
The Black Country is the home of the original Industrial Revolution. Too often those historic events are painted as just that – past glories of little relevance today. But there is no better place to see evidence of how the British economy can adapt than in the Black Country. Indeed, one example can be found behind this building. Dudley Canal No. 1 was part of a network of canals, central to the Industrial Revolution, along which the products made here – especially iron and steel – were transported throughout the country. At its peak, there were 5,000 miles of canals in Britain. Of course, the importance of canals as the arteries of industry later declined and by the late 1960s only 2,775 miles were navigable. But the regeneration of urban communities, and the efforts of British Waterways, have reversed this decline. The number of miles is now increasing. Last year, 13 million people visited our canals and the number of boats is actually higher now than during the Industrial Revolution. Such examples are important because our economy faces the prospect of change again. After an unprecedented financial crisis and deep recession, the UK economy needs to rebalance. Tonight I want to talk about what those changes will entail and the role which the Bank of England can play in supporting them.
The Bank of England’s key role has always been to ensure that the economy is supplied with the right quantity of money – neither too much nor too little. For fifty years, my predecessors struggled to prevent there being too much, so leading to inflation. I find myself in the opposite situation having to explain that there is too little money in the economy. But, in the wake of the financial crisis, and the sharp downturn that followed, the amount of money in the economy as a whole – broad money – is now barely growing at all. That is restraining activity and pushing down the outlook for inflation. So the Bank of England has taken extraordinary monetary policy measures – through our so-called "quantitative easing" programme of asset purchases – to ensure that the amount of money starts growing again in order to support a recovery and keep inflation on track to meet our target in the medium term.
My first speech as Governor – in 2003 – was also in the Midlands. In it, I talked about the non-inflationary consistently expansionary – or "nice" – decade from the early 1990s to the early 2000s. I argued that the next decade was unlikely to be as nice because, and I quote, "when shocks, as they will, hit our economy it is almost inevitable that there will be somewhat greater volatility of both output and inflation than the remarkable stability to which we have become used in recent years". I certainly did not anticipate the scale of the downturn in the world economy that followed the collapse of the banking system in 2008. But I did point to the need for a rebalancing of demand in the UK economy because, as I said then, "the strategy which the MPC has pursued in recent years – stimulating domestic demand to compensate for weak external demand in the face of a strong exchange rate – carries the risk that there could be a sharp correction to the level of consumer spending at some point in the future".
The counterpart to strong consumption in the past was low saving. Having averaged close to 20% in the 1960s and 70s, gross national savings fell to just 12% of income in 2009 – the lowest since the War. This was all the more remarkable because one might have expected saving to increase as life expectancy rose. In the coming years, we will have to save more, even though the immediate concern is to ensure a recovery in demand. So the case for rebalancing is even stronger in the wake of the financial crisis and recession that followed the nice decade.
To achieve a rebalancing we need to sell more to, and buy less from, economies overseas.
This is impossible because, like Canada, the USA and others, England no longer manufactures the necessary products to accomplish this; and Mervyn knows this. This means that the necessary rebalancing Mervyn says England needs will not/cannot happen. It cannot and will not happen anywhere. Are you ready for that?
To close the gap between exports and imports, more than half a million jobs will probably need to be created in businesses producing to sell overseas – compensating for fewer employment opportunities serving UK consumers or the public sector.
What Mervyn is saying here is that England must manufacture more then compete with countries like China to sell these product to other countries. This is also what Canada, the USA and every other country must do to avoid economic collapse. Who among you believes that this can happen?
Such an adjustment is unlikely to be smooth. Unless the fall in domestic spending coincides with the necessary increase in net exports, the path for the economy will be bumpy.
The products England will produce will be more expensive than what is currently purchased from China. Therefore domestic spending will/must increase. Again, this will not and cannot happen.
As a result, it is dangerous to become fixated by the precise profile of quarterly growth rates. The sensible approach is to focus on the big picture. And the big picture is that total output is roughly 10% below where it would have been had the crisis not occurred. The conditions are in place to support a rebalancing at home: in particular the past depreciation of sterling will make UK-produced goods more competitive at home and abroad.
Canada is an example of a country that has tried to keep the value of its dollar under the value of the USA. This means that as long as you're a manufacturer of products sold in the USA you win. But if you are a member of he public buying from the USA you lose. A short study will show that this policy serves no country well.
But domestic spending has already fallen before a pickup in net exports. This highlights a key role for monetary policy: smoothing the adjustment process by providing temporary stimulus to demand while the rebalancing takes place, so reducing the risk of inflation falling below the target in the medium term.
Monetary policy always involves controlling inflation by the manipulation of interest rates. Inflation of any amount leads to more debt. Read my post on this at: http://formulafordebt.blogspot.com/2010/11/2-inflation-answers-exponential-growth.html.
The biggest risk to an orderly rebalancing of our economy comes from abroad. Efforts to restore world demand are impeded by the scale of the imbalances in trade, which are beginning to grow again. If the UK and other low-savings countries are to rebalance their economies, demand for their products must increase overseas. Lower domestic demand in the deficit countries must be accompanied by strong growth in domestic demand in the surplus countries if the world economy is not to slow. That will require a change in the strategy of those countries that have built their own policies around export-led growth.
It is impossible, under our present debt based global economy for every country to sell more than they purchase. Someone must lose. Eventually the loss (debt) grows to such an extent that everyone loses. This is where we are today. As Einstein said, "Doing the same thing and expecting different result is insanity." And when it comes to money, each day we demonstrate our insanity.
In searching for a solution, some ask who is to blame. But that misses the point.
Mervyn's asking you not to look for a cause, which is the very financial system he upholds.
Before the crisis, all the main players were rationally pursuing their own perceived self-interest. Policymakers in countries like China wanted to develop via an export-led strategy, and policymakers in the low-saving countries took actions to maintain an adequate level of overall demand, consistent with steady, low inflation. But what seemed to make sense for each player individually did not make sense in aggregate, and we can see the consequences. A key lesson from the crisis is that we must find better ways of ensuring the right collective outcome.
Mervyn just said that the world got to its present situation by following the very policy he's recommending England undertake.
That challenge is clearly visible today. All countries accept that global rebalancing is necessary. But there is a clear difference between the path of adjustment desired by the surplus countries, which are faced with the need for a longer-term structural shift away from reliance on exports, and the path of adjustment preferred by the deficit countries, which are under greater near-term pressure to reduce the burden of debt in both private and public sectors. Tensions between the two groups were evident at last week’s IMF meetings in Washington where all the talk was of currency conflicts. Such conflicts are, however, symptoms of a deeper disagreement on the appropriate time path of real adjustment. Since surpluses and deficits must add to zero for the world as a whole, differences between these desired ex ante adjustment paths are reconciled ex post by changes in the level of world output. And the risk is that unless agreement on a common path of adjustment is reached, conflicting policies will result in an undesirably low level of world output, with all countries worse off as a result.
The international monetary system today has become distorted. The major surplus and deficit countries are pursuing economic strategies that are in direct conflict. And there are some innocent victims. Those emerging market economies which have adopted floating currencies are now suffering from the attempts of other countries to hold down their exchange rates, and are experiencing uncomfortable rates of capital inflows and currency appreciation. So there is more to this issue than a bilateral conflict between China and the United States.
At the G7 meeting in October 2008, I was part of the group of ministers and central bank governors who threw away the prepared communiqué, and replaced it by a bold short statement of our determination to work together. That spirit, so strong then, has ebbed away.
We told you as much in October of 2008, after the G7 meeting. Are you ready for more of the same. The only guaranteed result of the Private Debt Money System that has controlled our economy for the last century is debt and more debt.
P - (P + I) = D or Principal minus (Principal plus Interest) equals Debt was true in 1913, has been true since then and is still true today. See my blog Formula For Debt at: http://formulafordebt.blogspot.com/2010/11/formula-for-debt_09.html
Current exchange rate tensions illustrate the resistance to the relative price changes that are necessary for a successful rebalancing. The need to act in the collective interest has yet to be recognised, and, unless it is, it will be only a matter of time before one or more countries resort to trade protectionism as the only domestic instrument to support a necessary rebalancing. That could, as it did in the 1930s, lead to a disastrous collapse in activity around the world. Every country would suffer ruinous consequences – including our own. But, to borrow a phrase, in order to be tough on protectionism, we need also to be tough on the causes of protectionism.
So what needs to be done? Let me suggest two principles for the way ahead. First, focus discussion on the underlying disagreement about the right speed of adjustment to the real pattern of spending. Without agreement on this, policies will inevitably conflict. Once broad agreement is reached, it should be easier to agree on the instruments of policy. Second, in terms of policy instruments, put on the table many potential policy measures – not just the single issue of exchange rates. That should include, in addition to exchange rates, rules of the game for controlling capital inflows, plans to raise saving in the deficit countries, structural reforms to boost demand in the surplus countries, and even the role and governance of the international financial institutions.
What is needed now is a "grand bargain" among the major players in the world economy. A bargain that recognises the benefits of compromise on the real path of economic adjustment in order to avoid the damaging consequences of a move towards protectionism. Exchange rates will have to be part of such a bargain, but they logically follow a higher level agreement on rebalancing and sustaining a high level of world demand.
A natural forum in which to strike such a bargain is the G20. But to turn the regular round of international meetings into a real agreement will require a revolution, different in nature but no less significant, than that which put the Black Country on the map. Landlocked though the Black Country may be, our local economy has always been linked to a wider world – by canal, rail, road, and air, even fibre-optic cable. So the manner and speed with which the global imbalances unwind will have a direct impact on the Black Country and the UK economy as a whole.
Such developments in the real economy are important also for the Monetary Policy Committee, because they are an important influence on our primary goal of ensuring inflation is on track to meet our 2% inflation target.
Recently, inflation has been high and volatile. It is currently above our 2% target. And the aim of the MPC is to bring it down. But as demand rebalances, we should expect some volatility in inflation as well as in the path of output. During 2008, CPI inflation rose to a peak of 5.2%, fell to a low of 1.1% in 2009, before increasing again to stand at 3.1% now. Those movements have mainly reflected changes in VAT, volatile energy prices and pass-through from the past exchange rate depreciation. Together they have pushed up on measured inflation.
Though uncomfortable, it is not surprising that inflation has been more volatile than during the nice decade. In 1998, before he joined the Bank, Charlie Bean estimated that the normal variation in the economy would lead inflation to be more than 1 percentage point away from target for around 40% of the time. And in the past three years, inflation has been more than 1 percentage point away from target in 17 months, or 47% of the time. Yet that was a period of extraordinary volatility in the economy and at the same time we managed to absorb a 25% fall in sterling’s effective exchange rate, something that historically would have created far more serious inflationary problems.
The key question is whether the current inflation rate signals that inflation will persist above target. The MPC is conscious that the continuing high level of inflation poses the risk that inflation expectations may move up. And it may be some while before inflation returns to target. But at present, there is also a risk – at least as large – that once the temporary upward influences on inflation dissipate, the influence of spare capacity in the economy will push inflation below the target. Consistent with that possibility, a range of other indicators – growth in broad money, pay, and the pressure of demand on supply, that together are likely to be a more reliable guide to inflationary pressure looking ahead – all remain extremely subdued. So not only can monetary policy play a role in smoothing the rebalancing process, it needs to do so if the outlook for inflation is to remain in line with the 2% target in the medium term.
Because there are risks on both sides of the outlook, reasonable people can disagree about the monetary policy judgement. In recent speeches, different MPC members have emphasised upside and downside risks to inflation. After the event, no doubt whichever risk has crystallised will be described by the critics as inevitable. Unfortunately, we do not have a crystal ball. So in setting policy today the only coherent approach is to balance those two risks.
The next decade will not be nice. History suggests that after a financial crisis the hangover lasts for a while. So the next decade is likely to be a sober decade – a decade of savings, orderly budgets, and equitable rebalancing. Our prospects remain closely linked to developments in the rest of the world. But we can influence the outcome, with monetary policy still a potent weapon to ensure that the amount of money in the economy is growing neither too slowly, as in the recent past, nor too quickly so as to reignite inflation. With that, and the inspiration provided by the Black Country’s example of how to adapt to economic change, I am sure of one thing. A sober decade may not be fun but it is necessary for our economic health.
I am sure of one thing. That Mervyn is aware, as I am, that we will not get through the next decade without a depression worse than anything that this world has ever seen. For that I know that you are not ready and I am afraid for you.
A pdf of Mervyns talk can be seen here:http://www.bis.org/review/r101021a.pdf
Comments to the author are welcomed. david.ealing@gmail.com.
Showing posts with label mathematically perfected ecomomy. Show all posts
Showing posts with label mathematically perfected ecomomy. Show all posts
Sunday, February 20, 2011
Wednesday, February 9, 2011
Ignorance is not Bliss
Ignorance has been described as bliss. But when it comes to the creation of money it is slavery. Not one person in ten thousand really knows how money enters our economy. Why is so little known of something that exercises so much control over our lives? When you finally understand the truth behind money creation you’ll also understand why you have learned so little about it. If you knew the truth you would be outraged.
About this Henry Ford once said: "It is well that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Two possibilities exist here. Either, Mr. Ford was wrong and the people do understand the banking and monetary system, or he was right and the fact that there has been no revolution proves that the people still don’t understand. I’ll go with the latter.
I write this because of our new ferry fiasco in British Columbia. We spend many millions of dollars for needed ferries then park them because they’re too expensive to run. And we pay David Hahn a million dollars a year to do this for us.
[Just as an aside here let me tell you that Mr. David Hahn’s pay comes to him in the form of a compensation package. We’ve all heard that before. CEOs are compensated for what they do. The reason they ask to be compensated is that compensation is not taxable. So David Hahn gets to waste our money and we don’t even get one dollar in tax back from him. Funny, doesn’t the word compensate mean that something had to be lost first. People are compensated because they suffered a loss, aren’t they. Our ignorance is certainly not bliss.]
Let me point out another area of our ignorance. How many of you are aware that our Provincial Governments could print and issue our own money rather than borrow it at interest from a private bank?
You don’t have to believe me but I’d suggest you start learning the facts rather than continuing to believe those who have lied to you for decades. How about a banker? Would you believe a banker if he told you the same thing I’m trying to tell you? Let’s see.
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with the flick of a pen, they will create enough money to buy it back again. Take this great power away from the bankers and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a better and happier world to live in. But if you want to continue the slaves of bankers and pay the cost of your own slavery, let them continue to create money and to control credit."
Sir Josiah Stamp: Director and President of the Bank of England during the 1920's and reputed to be the second richest man in England.
Start your education with the following article taken from:
http://members.shaw.ca/theultimatescam/provincialcredit.htm.
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A second option available to the provinces, failing action by the federal Government, is to set up its own mechanism to provide additional credit to British Columbians based upon the wealth of the province. The BNA Act of 1867, our Constitution, Section 92.3, the province is allowed to "borrow on the sole credit of the Province", that is to say, upon the real wealth of the province. A few short years ago, The World Bank published a report in which they estimated the worth of Canada northern territories British Columbia
What is needed in B.C. as well as the other provinces, because they face the same problem, is a Provincial Public Credit System. A mechanism whereby, the province can provide credit within the province of B.C. for its own legislatively approved expenditures, including health, education, highways, bridges, resource development and other concerns. This credit would be interest free and repaid through taxes or user fees to keep the system in balance. The key here is "interest free". Interest charges amount to a growing, significant expenditure for government, business and individuals. These interest expenditures are absolutely unnecessary!
A prime example as to how this can be utilized would be mortgages for principal residences in B.C. The province, through a system of "public" banks or credit unions, can issue "credit"(loans) to British Columbians for the purchase of a principal residence within B.C., interest free! The only necessary charge would be a nominal administration fee to monitor and process payments. (We don't need to borrow from the private banks and pay them interest!!) This single action alone would allow every British Columbian to own their own home within a few short years. No more paying for a home 3,4 or 5 times over because of burdensome interest charges levied by private banks. This single act alone would also free up hundred's of millions of dollars for consumers to spend on other goods and services, creating thousands of new jobs and giving the economy an enormous boost. Another example would be resource development. The province, through a Provincial Credit System can advance credit to companies to develop our natural resources. For example, if we needed to increase our natural gas production, the province can provide the credit needed for the private sector to construct the facility. By charging a nominal rate for the use of the Provincial Credit plus a royalty percentage based on production, the province would earn revenues to repay the credit advance and support some of the other needs of the province. In Alaska
In 1939, the Provincial Government of Alberta under William Aberhart passed a law, which was to provide exactly this. The Alberta Credit House Act was passed with the intention of providing additional credit to Albertans. This is where the network of "Treasury Branches" originated. It was the intention of the Alberta Government to provide interest free credit to Albertans and get away from the debt money system operated by the private banks. Unfortunately, World War ll brought about a suspension of this Provincial Credit System and in 1943, William Aberhart died in a car accident. The Act is still on the books but it has never been implemented.
This system would operate similar to the pictorial example of the Public Credit Money Sink. The only difference would be that the province would create credit and issue it within the province to meet our provinces needs and extinguish the advances (loans) as payments came in. The Provincial Credit Office would extend credit for authorized provincial public and private expenditures. Payments would come back in the form of a regular payment schedule (in the case of credit advances to the private sector for development of provincial natural resources) or through taxes and fees for public services to keep the system in balance.
To summarize, governments at all levels, private industry and the public at large are all under financial pressure. We see, on a daily basis, government cutbacks, budget shortfalls, reduction in services, pressure to either raise taxes or find other means to raise revenue and an increasing public debt which cannot ever be paid back under the present debt money system. Businesses either moving out of province or going under, leaving thousands of our citizens unemployed, unions striking for higher wages and benefits, injured workers fighting for support payments which are harder to come by or are reduced. More and more, wives are forced to work to provide a second income in order for families to survive, husbands are taking on second jobs, part time work or working overtime and weekends just to make ends meet. And on top of all this, personal debt has climbed to an all time high and shows no sign of stopping.
The problems are daunting but not impossible to overcome. But the promises and the remedies offered by past and present governments and politicians will not solve the problems. Provincially, we have the power to make the necessary changes. All that is required is the will to do what must be done. We need to establish our own mechanism for providing credit within the Province. A growing and expanding economy requires a growing and expanding supply of money to meet the needs of society. Under our present system, the banks supply the "money" to meet demand but extract more back in the form of principal and interest payments. This causes the constant shortfall of the money supply in the economy and results in problems such as those referred to above. Under a Provincial Credit System, the supply of "credit" will always be adequate enough to meet the needs of the people and provide for a prosperous future for all of us.
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It’s your choice folks. You can use your own money at no cost or continue to use a private banker’s money that guarantees debt. I would think the choice would be easy.
Check out our present system here:
And what could be our federal system here: http://members.shaw.ca/theultimatescam/pcms.htm.
Comments to the author are welcomed. david.ealing@gmail.com.
Thursday, January 27, 2011
The Past, Present and Future
This lengthy article will give you lots to think about. Read all five parts.
http://one-evil.org/acts_global_depression/acts_global_depression.htm
http://one-evil.org/acts_global_depression/acts_global_depression.htm
Tuesday, January 18, 2011
Virginia - HOUSE JOINT RESOLUTION NO, 557
The following has been copied in full from:
http://endtheecb.ning.com/profiles/blogs/state-of-virginia-debates-a.
It would be wise for each State and Province to follow this example. Provinces can print their own money. See: http://members.shaw.ca/theultimatescam/provincialcredit.htm
HOUSE JOINT RESOLUTION NO. 557 Offered January 12, 2011 Pre filed January 5, 2011 Establishing a joint subcommittee to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System. Report. ---------- Patron-- Marshall, R.G. ---------- Referred to Committee on Rules ---------- WHEREAS, the Supreme Court of the United States has ruled in Inre Rahrer, 140 U.S. 545, 554 (1891), that “the police power” of a State “is a power originally and always belonging to the States, not surrendered by them to the general government, nor directly restrained by the Constitution of the United States, and essentially exclusive”; and
WHEREAS, the Supreme Court of the United States has ruled in Beer Company v. Massachusetts, 97 U.S. 25, 33 (1877), that the police power of the States “extend[s] to the protection of the lives, health, and property of the[ir] citizens, and to the preservation of good order”; and
WHEREAS, the protection of the lives, health, and property of Virginia’s citizens, and the preservation of good order in the Commonwealth,depend upon the maintenance of both an adequate system of governmental finance and a sound and robust private economy; and
WHEREAS, an adequate system of governmental finance and a sound and robust private economy cannot be maintained in the absence of a sound currency; and
WHEREAS, the present monetary and banking systems of the United States, centered around the Federal Reserve System, have come under ever-increasing strain during the last several years, and will be exposed to ever-increasing and predictably debilitating strain in the years to come; and
WHEREAS, many widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future; and
WHEREAS, in the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared, the Commonwealth’s governmental finances and Virginia’s private economy will be thrown into chaos, with gravely detrimental effects upon the lives, health, and property of Virginia’s citizens, and with consequences fatal to the preservation of good order throughout the Commonwealth; and
WHEREAS, Virginia can avoid or at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System only through the timely adoption of an alternative sound currency that the Commonwealth’s government and citizens may employ without delay in the event of the destruction of the Federal ReserveSystem’s currency; and
WHEREAS, “legal tender” denotes a currency that must be accepted in payment of a debt denominated in United States “dollars” if the parties have not stipulated that some alternative currency is to be used as their medium of payment or are not otherwise required to use such alternative currency; and
WHEREAS, the Federal Reserve System’s currency has been designated “legal tender” under color of Title 31, United States Code, Section5103; and
WHEREAS, under Title 12, United States Code, § 411 and Title31, United States Code, § 5118(b) and (c), the Federal Reserve System’scurrency is not redeemable in gold or silver coin or the equivalent in bullion; and
WHEREAS, that the Federal Reserve System’s currency is not redeemable in gold or silver coin or the equivalent in bullion is being identified by more and more experts as a, if not the, major reason for the ever-increasing instability of the Federal Reserve System; and
WHEREAS, all gold and silver coins of the United States are designated “legal tender” under the aegis of Title 31, United States Code, §§5103 and 5112(h), and must be so designated perforce of Article I, Section 8,Clause 5 and Article I, Section 10, Clause 1 of the Constitution of the United States; and
WHEREAS, pursuant to Article I, Section 10, Clause 1 of and the Tenth Amendment to the Constitution of the United States, each State must make gold and silver coin a Tender in Payment of Debts; and
WHEREAS, the Supreme Court of the United States in Lane County v. Oregon, 74 U.S. (7 Wallace) 71, 76-78 (1869), and Hagar v. Reclamation District No. 108, 111 U.S. 701, 706 (1884), has ruled that the States may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated “legal tender”;and
WHEREAS, “the police power” being the primary sovereign governmental function of every State, under Lane County and Hagarevery State may adopt its own currency, consisting of gold or silver, or both,whenever necessary and proper to facilitate exercises of that power in aid of the general welfare of the State and its citizens; and
WHEREAS, under the aegis of Title 31, United States Code, §5118(d)(2), and perforce of Article I, Section 8, Clause 5 and Article I,Section 10, Clause 1 of, and the Ninth and Tenth Amendments to, the Constitution of the United States, Americans may employ whatever currency they choose to stipulate as the medium for payment of their private debts, including gold or silver, or both, to the exclusion of a currency not redeemable in gold or silver that Congress may have designated “legal tender”; and
WHEREAS, under the aegis of Title 31, United States Code, §5118(d)(2), and perforce of Article I, Section 8, Clause 5 and Article I,Section 10, Clause 1 of, and the Ninth and Tenth Amendments to, the Constitution of the United States, the citizens of Virginia may choose to employ as the medium for payment of their private debts whatever alternative currency, consisting of gold or silver, or both, that the Commonwealth may adopt in the exercise of “the police power”; and
WHEREAS, in light of the possible instability of the Federal Reserve System, proposals for states and their citizens to adopt an alternative currency consisting of gold or silver, or both, are receiving increasing attention throughout the United States, as evidenced by bills that have been or are being introduced in the legislatures of the States of Georgia, Indiana, Montana, New Hampshire, and South Carolina; and
WHEREAS, various systems of alternative currency employing gold or silver, or both, in the form of coin or its equivalent in bullion have already proved themselves in the free market, and could either be employed by the Commonwealth directly or be used as models for a new system created by the Commonwealth to meet Virginia’s unique needs; and
WHEREAS, the adoption of an alternative currency consisting of gold or silver, or both, would not destabilize the present monetary and banking systems, the Commonwealth’s governmental finances, or Virginia’s private economy, because it would not compel or commit the Commonwealth or her citizens to employ such alternative currency to the exclusion of the Federal Reserve System’s currency immediately, but would merely make the alternative currency available,and enable it to be used in competition with and preference to the Federal Reserve System’s currency, to the degree that the need for such use became apparent; and
WHEREAS, the United States Congress, the U.S. Department of the Treasury, and the Federal Reserve System have taken and are preparing to take no action to provide the United States with an alternative to the Federal Reserve System’s currency, in the likely event that the latter would be destroyed through hyperinflation; and
WHEREAS, because legislators in Virginia know or should know all of these facts; and because the General Assembly has the authority, the ability, and the duty to take timely action to deal with this situation without first seeking the approval of or assistance from Congress or any other state;and because the Constitution of Virginia provides, “That all power is vested in, and consequently derived from, the people, that magistrates are their trustees and servants, and at all times amenable to them”—for these reasons,the citizens of the Commonwealth will properly conclude that the members of the General Assembly will be primarily responsible if the Commonwealth is found to be without an alternative currency when the Federal Reserve System’s currency collapses in hyperinflation, or some other related economic calamity supervenes; now, therefore, be it
RESOLVED by the House of Delegates, the Senate concurring, That a joint subcommittee be appointed to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.
The joint subcommittee shall consist of eight legislative members who shall be appointed as follows: five members of the House of Delegates to be appointed by the Speaker of the House of Delegates in accordance with the principles of proportional representation contained in the Rules of the House of Delegates and three members of the Senate to be appointed by the Senate Committee on Rules. The joint subcommittee shall elect a chairman and vice-chairman from among its membership.
In conducting its study, the joint subcommittee shall call or hear from such witnesses and take such other evidence as it deems appropriate and shall consider recommendations for legislation,with respect to the need, means, and schedule for establishing such an alternative currency.
Administrative staff support shall be provided by the Office of the Clerk of the House of Delegates. Legal, research, policy analysis, and other services as requested by the joint subcommittee shall be provided by the Division of Legislative Services. Technical assistance shall be provided by the Treasurer of the Commonwealth of Virginia and the Bureau of Financial Institutions of the State Corporation Commission. All other agencies of the Commonwealth shall provide assistance to the joint subcommittee for this study,upon request.
The joint subcommittee shall be limited to six meetings for the 2011 interim, and the direct costs of this study shall not exceed $12,000 without approval as set out in this resolution. Approval for unbudgeted nonmember-related expenses shall require the written authorization of the chairman of the joint subcommittee and the respective Clerk. If a companion joint resolution of the other chamber is agreed to, written authorization of both Clerks shall be required.
No recommendation of the joint subcommittee shall be adopted if a majority of the House members or a majority of the Senate members appointed to the joint subcommittee (i) vote against the recommendation and(ii) vote for the recommendation to fail notwithstanding the majority vote of the joint subcommittee.
The joint subcommittee shall complete its meetings by November30, 2011, and the chairman shall submit to the Division of Legislative Automated Systems an executive summary of its findings and recommendations no later than the first day of the 2012 Regular Session of the General Assembly. The executive summary shall state that the joint subcommittee intends to submit to the General Assembly and the Governor a report of its findings and recommendations for publication as a House or Senate document and shall specify the date by which the report shall be submitted. The executive summary and the report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports, and shall be posted on the General Assembly’s website.
Implementation of this resolution is subject to subsequent approval and certification by the Joint Rules Committee. The Committee may approve or disapprove expenditures for this study, extend or delay the period for the conduct of the study, or authorize additional meetings during the 2011 interim.
It may be an idea to send this to all Provincial Premiers and Finance Members. The more they receive, the better the chance that they'll know that we demand they're prepared for any future economic event. I assure you that when (not if) the federal Reserve fails so will the Bank of Canada.
http://endtheecb.ning.com/profiles/blogs/state-of-virginia-debates-a.
It would be wise for each State and Province to follow this example. Provinces can print their own money. See: http://members.shaw.ca/theultimatescam/provincialcredit.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
State of Virginia debates a currency as an alternative for when the FED system breaks down.
2011 SESSION
11102035DWHEREAS, the Supreme Court of the United States has ruled in Beer Company v. Massachusetts, 97 U.S. 25, 33 (1877), that the police power of the States “extend[s] to the protection of the lives, health, and property of the[ir] citizens, and to the preservation of good order”; and
WHEREAS, the protection of the lives, health, and property of Virginia’s citizens, and the preservation of good order in the Commonwealth,depend upon the maintenance of both an adequate system of governmental finance and a sound and robust private economy; and
WHEREAS, an adequate system of governmental finance and a sound and robust private economy cannot be maintained in the absence of a sound currency; and
WHEREAS, the present monetary and banking systems of the United States, centered around the Federal Reserve System, have come under ever-increasing strain during the last several years, and will be exposed to ever-increasing and predictably debilitating strain in the years to come; and
WHEREAS, many widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future; and
WHEREAS, in the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared, the Commonwealth’s governmental finances and Virginia’s private economy will be thrown into chaos, with gravely detrimental effects upon the lives, health, and property of Virginia’s citizens, and with consequences fatal to the preservation of good order throughout the Commonwealth; and
WHEREAS, Virginia can avoid or at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System only through the timely adoption of an alternative sound currency that the Commonwealth’s government and citizens may employ without delay in the event of the destruction of the Federal ReserveSystem’s currency; and
WHEREAS, “legal tender” denotes a currency that must be accepted in payment of a debt denominated in United States “dollars” if the parties have not stipulated that some alternative currency is to be used as their medium of payment or are not otherwise required to use such alternative currency; and
WHEREAS, the Federal Reserve System’s currency has been designated “legal tender” under color of Title 31, United States Code, Section5103; and
WHEREAS, under Title 12, United States Code, § 411 and Title31, United States Code, § 5118(b) and (c), the Federal Reserve System’scurrency is not redeemable in gold or silver coin or the equivalent in bullion; and
WHEREAS, that the Federal Reserve System’s currency is not redeemable in gold or silver coin or the equivalent in bullion is being identified by more and more experts as a, if not the, major reason for the ever-increasing instability of the Federal Reserve System; and
WHEREAS, all gold and silver coins of the United States are designated “legal tender” under the aegis of Title 31, United States Code, §§5103 and 5112(h), and must be so designated perforce of Article I, Section 8,Clause 5 and Article I, Section 10, Clause 1 of the Constitution of the United States; and
WHEREAS, pursuant to Article I, Section 10, Clause 1 of and the Tenth Amendment to the Constitution of the United States, each State must make gold and silver coin a Tender in Payment of Debts; and
WHEREAS, the Supreme Court of the United States in Lane County v. Oregon, 74 U.S. (7 Wallace) 71, 76-78 (1869), and Hagar v. Reclamation District No. 108, 111 U.S. 701, 706 (1884), has ruled that the States may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated “legal tender”;and
WHEREAS, “the police power” being the primary sovereign governmental function of every State, under Lane County and Hagarevery State may adopt its own currency, consisting of gold or silver, or both,whenever necessary and proper to facilitate exercises of that power in aid of the general welfare of the State and its citizens; and
WHEREAS, under the aegis of Title 31, United States Code, §5118(d)(2), and perforce of Article I, Section 8, Clause 5 and Article I,Section 10, Clause 1 of, and the Ninth and Tenth Amendments to, the Constitution of the United States, Americans may employ whatever currency they choose to stipulate as the medium for payment of their private debts, including gold or silver, or both, to the exclusion of a currency not redeemable in gold or silver that Congress may have designated “legal tender”; and
WHEREAS, under the aegis of Title 31, United States Code, §5118(d)(2), and perforce of Article I, Section 8, Clause 5 and Article I,Section 10, Clause 1 of, and the Ninth and Tenth Amendments to, the Constitution of the United States, the citizens of Virginia may choose to employ as the medium for payment of their private debts whatever alternative currency, consisting of gold or silver, or both, that the Commonwealth may adopt in the exercise of “the police power”; and
WHEREAS, in light of the possible instability of the Federal Reserve System, proposals for states and their citizens to adopt an alternative currency consisting of gold or silver, or both, are receiving increasing attention throughout the United States, as evidenced by bills that have been or are being introduced in the legislatures of the States of Georgia, Indiana, Montana, New Hampshire, and South Carolina; and
WHEREAS, various systems of alternative currency employing gold or silver, or both, in the form of coin or its equivalent in bullion have already proved themselves in the free market, and could either be employed by the Commonwealth directly or be used as models for a new system created by the Commonwealth to meet Virginia’s unique needs; and
WHEREAS, the adoption of an alternative currency consisting of gold or silver, or both, would not destabilize the present monetary and banking systems, the Commonwealth’s governmental finances, or Virginia’s private economy, because it would not compel or commit the Commonwealth or her citizens to employ such alternative currency to the exclusion of the Federal Reserve System’s currency immediately, but would merely make the alternative currency available,and enable it to be used in competition with and preference to the Federal Reserve System’s currency, to the degree that the need for such use became apparent; and
WHEREAS, the United States Congress, the U.S. Department of the Treasury, and the Federal Reserve System have taken and are preparing to take no action to provide the United States with an alternative to the Federal Reserve System’s currency, in the likely event that the latter would be destroyed through hyperinflation; and
WHEREAS, because legislators in Virginia know or should know all of these facts; and because the General Assembly has the authority, the ability, and the duty to take timely action to deal with this situation without first seeking the approval of or assistance from Congress or any other state;and because the Constitution of Virginia provides, “That all power is vested in, and consequently derived from, the people, that magistrates are their trustees and servants, and at all times amenable to them”—for these reasons,the citizens of the Commonwealth will properly conclude that the members of the General Assembly will be primarily responsible if the Commonwealth is found to be without an alternative currency when the Federal Reserve System’s currency collapses in hyperinflation, or some other related economic calamity supervenes; now, therefore, be it
RESOLVED by the House of Delegates, the Senate concurring, That a joint subcommittee be appointed to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.
The joint subcommittee shall consist of eight legislative members who shall be appointed as follows: five members of the House of Delegates to be appointed by the Speaker of the House of Delegates in accordance with the principles of proportional representation contained in the Rules of the House of Delegates and three members of the Senate to be appointed by the Senate Committee on Rules. The joint subcommittee shall elect a chairman and vice-chairman from among its membership.
In conducting its study, the joint subcommittee shall call or hear from such witnesses and take such other evidence as it deems appropriate and shall consider recommendations for legislation,with respect to the need, means, and schedule for establishing such an alternative currency.
Administrative staff support shall be provided by the Office of the Clerk of the House of Delegates. Legal, research, policy analysis, and other services as requested by the joint subcommittee shall be provided by the Division of Legislative Services. Technical assistance shall be provided by the Treasurer of the Commonwealth of Virginia and the Bureau of Financial Institutions of the State Corporation Commission. All other agencies of the Commonwealth shall provide assistance to the joint subcommittee for this study,upon request.
The joint subcommittee shall be limited to six meetings for the 2011 interim, and the direct costs of this study shall not exceed $12,000 without approval as set out in this resolution. Approval for unbudgeted nonmember-related expenses shall require the written authorization of the chairman of the joint subcommittee and the respective Clerk. If a companion joint resolution of the other chamber is agreed to, written authorization of both Clerks shall be required.
No recommendation of the joint subcommittee shall be adopted if a majority of the House members or a majority of the Senate members appointed to the joint subcommittee (i) vote against the recommendation and(ii) vote for the recommendation to fail notwithstanding the majority vote of the joint subcommittee.
The joint subcommittee shall complete its meetings by November30, 2011, and the chairman shall submit to the Division of Legislative Automated Systems an executive summary of its findings and recommendations no later than the first day of the 2012 Regular Session of the General Assembly. The executive summary shall state that the joint subcommittee intends to submit to the General Assembly and the Governor a report of its findings and recommendations for publication as a House or Senate document and shall specify the date by which the report shall be submitted. The executive summary and the report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports, and shall be posted on the General Assembly’s website.
Implementation of this resolution is subject to subsequent approval and certification by the Joint Rules Committee. The Committee may approve or disapprove expenditures for this study, extend or delay the period for the conduct of the study, or authorize additional meetings during the 2011 interim.
~~~~~~~~~~~~~~~~~~~~~~~~~
It may be an idea to send this to all Provincial Premiers and Finance Members. The more they receive, the better the chance that they'll know that we demand they're prepared for any future economic event. I assure you that when (not if) the federal Reserve fails so will the Bank of Canada.
Tuesday, January 11, 2011
Economic Viability
Part One - The Problem, and
Part Two - How We Cause Debt
Part Three - The Solution
They say a picture is worth a thousand words. My hope is that the one below is worth a complete encyclopedia. This picture is not the way most would consider starting an article on Economic Viability. But once one realizes how the economies of the world operate, one quickly sees that the situation expressed in this photo is the best - the absolute best - humanity can hope for; its slow and agonizing consumption by vultures. Sadly, this picture expresses another reality; humanity's ignorance of the imminent danger lurking behind it.
It was a picture similar to this that made me stop and ask how and why this could happen. My search for answers lead me to conclude that all of us had a hand in this child's gruesome suffering and probable demise. I have been talking about that ever since. I feel it's time to revisit this conclusion; not to change it but to have it reconfirmed. You see, if this child didn't die on this day in 1994, ten thousand did. And since that day an average of fifteen thousand (15,000) children a day have starved to death. That's five million, four hundred seventy five thousand (5,475,000) a year! And during the sixteen years since this picture was taken eighty seven million, six hundred thousand (87,600,000) children have suffered the very cruel and lengthy death of starvation. That's just under two and a half times the total population of Canada! And today, January 11, 2011, over thirty thousand (30,000) will join them. And still, the world doesn't know why this happens.
And the world really doesn't want to learn why. What it wants is someone or something out there to blame. It's the famine, it's civil war, it's corporate greed, it's global warming, it's government corruption, it's the bankers, etc. The last one on this list (bankers) may be the closest to the truth but it's not the whole truth. The truth is it's our use of a private bank's "money" that's the partner in their insidious scheme. Whatever the banker's ultimate goal is, it cannot be realized without our participation.
Years ago most of us could have claimed ignorance of the inevitable result of borrowing "money" at interest, but not today. Humanity has been cautioned against this practice (usury) for thousands of years; virtually every religious text speaks against this practise. Yet virtually every religious person has entered one contract or another agreeing to participate in an economy that demands usury. Louis Even's The Money Myth Exploded, http://www.michaeljournal.org/myth.htm, at least as far back as 1932 pointed to the problem of paying interest on "money" printed against a barrel of rocks (thin air). Today many sites on the inter net point to the problems that stem from usury and a few even mention "solution".
But of all these there is only one that can model the present system's inevitable collapse as well a as model solution and that's Mike Montagne's Mathematically Perfected Economy. Mike has put out an 18 part video in which he presents these models. To see the models that show the inevitable collapse of our present economic system start at the 5:00 minute mark of Part 02A reached by the following the first link below and then continue with the full 9:05 minutes of Part 02B. By watching these two a few times you will see that inevitable economic failure is awaiting humanity.
Part 02A, 9:20 minutes:
http://www.youtube.com/watch?v=VmXlQ1Q8e1I&feature=related
Part 02B, 9:05 minutes:
http://www.youtube.com/watch?v=RJZOfsqpdMM&NR=1
The following link models the effects of moderate rates of interest.
Part 03, 2:21minutes:
http://www.youtube.com/watch?v=VrGKfxdmotU&NR=1
The following link models how high interest rates escalate failure.
Part 04, 0:56 minutes:
http://www.youtube.com/watch?v=XwkEiD2fWz4&feature=related
Why interest rates are necessarily reduced in the later stages are modeled in the following two links.
Part 05A, 7:00 minutes:
http://www.youtube.com/watch?v=t2bZOierVzs&feature=related
Part 05B, 4:48 minutes:
http://www.youtube.com/watch?v=GYDhlsWKlwI
The information gained from these six links should bring you to a position of knowledge concerning our present economic system. Economic viability does not exist anywhere within this system. It never did, doesn't now and never will. Study the information presented on these links and you should have no problem in seeing humanity's place in the above picture. We have been lead to believe that with enough effort we can reach the sanctuary represented in this photo by the United Nation food camp just a kilometer away. But, as is the case with the child in this picture, the energy to accomplish that no longer exists. In the case of our economy, at no time did it ever exist.
So where are you in the above picture? If you're reading this you're not one of the millions represented by the child. At thirty thousand a day it will take only another thirty-four days for the next one million children to starve to death. And that's just the children. All of these children are starving today and they will starve until they die.
But where are you. Are you well enough financially so that you don't have to worry about how the rent or mortgage will be paid next month? Or is it becoming harder to fulfill that obligation. Do you sense the vulture closing in behind you? And if not you, then how about your friends and neighbours. It's impossible today not to see the effects of our present debt producing economy. Debt is the final and only result of borrowing "money" from a private bank; a bank that merely prints our promises to pay; a bank that has no money; a bank that has already taken your neighbours two hundred thousand dollar home in exchange for $29.99 worth of paper and ink.
It is imperative that you listen to the information on the above links. If you don't you wont understand what's happening when they come for your home or your landlord is finally saying, "Please move out."
The collapse is inevitable. That means that no matter how secure you feel today, that security will vanish almost over night. No one will be unscathed. And we've seen the wheel barrow full of money it take to by a few groceries once hyper inflation hits. Don't be too sure it can't happen to you.
Part Two - How We Cause Debt
Photo by Kevin Carter
It may be hard for all who strive to improve their economic position to see how that activity contributes to conditions that lead to the stark contrast in the above photo. But contribute they do.
Recently I told a friend that I don't like my life. I saw my life being so much better if we all had the ability to create an abundant life for ourselves. My life has become uncomfortable because of the experiences that came as I looked for the cause(s) that created the effects reflected in the above pictures.
I have become saddened at what I found. It seems that most prefer to turn a blind eye to the problem and exercise a great sense of denial that anything they are doing could possibly be causing any discomfort to others. Or they throw up their hands and claim the problems too big and besides, nothing they can do would have any effect. Others say they'll only focus on the positive - seeing only the good and ignoring the rest. These people always have a smile on their face.
To them I plead, "Take your blinders off."
How many remember the song "Man in Black"? Not to compare myself with Johnny Cash but he saw problems that others seemed to ignore. He saw too that ignoring them does not make them go away. Here's the lyrics in case you've forgotten or never heard them.
"Man In Black"
Well, you wonder why I always dress in black,
Why you never see bright colors on my back,
And why does my appearance seem to have a somber tone.
Well, there's a reason for the things that I have on.
I wear the black for the poor and the beaten down,
Livin' in the hopeless, hungry side of town,
I wear it for the prisoner who has long paid for his crime,
But is there because he's a victim of the times.
I wear the black for those who never read,
Or listened to the words that Jesus said,
About the road to happiness through love and charity,
Why, you'd think He's talking straight to you and me.
Well, we're doin' mighty fine, I do suppose,
In our streak of lightnin' cars and fancy clothes,
But just so we're reminded of the ones who are held back,
Up front there ought 'a be a Man In Black.
I wear it for the sick and lonely old,
For the reckless ones whose bad trip left them cold,
I wear the black in mournin' for the lives that could have been,
Each week we lose a hundred fine young men.
And, I wear it for the thousands who have died,
Believen' that the Lord was on their side,
I wear it for another hundred thousand who have died,
Believen' that we all were on their side.
Well, there's things that never will be right I know,
And things need changin' everywhere you go,
But 'til we start to make a move to make a few things right,
You'll never see me wear a suit of white.
Ah, I'd love to wear a rainbow every day,
And tell the world that everything's OK,
But I'll try to carry off a little darkness on my back,
'Till things are brighter, I'm the Man In Black.
I tell you that as we strive to fill our bank accounts or even just to pay the rent, we are the creators of the debt that causes the poverty suffered by others. You can say that there is no choice, the rent must get paid and to that I would agree. But we need to see the cause of starvation before it can ever be eliminated. To see the cause we must look at the suffering.
By the 1960s in North America we started noticing problems within the environment. These problems were traced back to our use of DDT. Even then it took until 1990 until they were completely banned in Canada. Today the problems that were caused by our use of DDT are receding. The eagles are no longer on the endangered list and the amount of DDT residue in our food has greatly diminished.
But to correct that particular problem we needed to actually examine it. We couldn't just say I'm just going to look at the good that's in the world. Having looked at the problem we could then follow the evidence back to the cause. And the cause was us.
And once again the enemy is us. By looking at Mike Montagne's models in the links above you will see that the use of a private banks money results in debt. The use of DDT resulted in egg shells that broke as eagles sat on them and the enemy was us because we put the DDT into the environment. The use of a private banks money causes debt because we put those notes into circulation at interest. The DDT didn't get into the environment on it's own and a private banks debt causing notes don't get into circulation on their own. In both cases, "We have met the enemy and he is us."
Economic viability within our present financial system is at best an illusion and at worse, a tragedy.
Next Week - Part Three - The Solution
The solution may be to take back control of our money but there is one major process that must happen first. We must learn and really understand the need to do so. Until the problem is clearly seen, the solution,the solution will never be implemented.
For this the media offers no help. We will never hear or see the cause of debt clearly outlined on CBC, or any of the national news media for that matter. Like all the major media in the States the owners of all media in Canada benefit from the current system of "Money creation". Nor will any member of our Government honestly inform the public that the debt that's slowly burying them is caused by the interest charged on a private banks money.
We wont get into the debate of whether or not the Bank of Canada is publicly owned or is private. That topic, as well as how the Bank of Canada operates as a private bank, has been covered in these posts.
http://formulafordebt.blogspot.com/2010/11/look-at-bank-of-canada.html
http://formulafordebt.blogspot.com/2010/12/bond-is-simply-promise-to-pay.html
http://formulafordebt.blogspot.com/2010/12/bond-is-simply-promise-to-pay-part-two.html
At least two members of our Federal Government must be aware of how our national debt is caused; our Prime Minister and our Finance Minister; but they don't and wont tell you.
Once again, we bring your attention to our formula for debt. This formula illustrates the guaranteed end result of just one loan. But as all money circulating within our economy has been borrowed and is thus part of a specific loan, this formula, by extension, can be applied to all of it. An explanation and illustration of the proof of this formula can be found in these posts.
http://formulafordebt.blogspot.com/2010/11/formula-for-debt_09.html
http://formulafordebt.blogspot.com/2010/12/all-for-one.html
If no help is forthcoming from Governments, corporations or the media it becomes necessary for individuals to do their own due diligence in finding the cause of debt. We're not asking that you believe our claim that interest guarantees an un-payable debt. What we're asking is that you take the time and attempt to prove the formula for debt wrong. Your falure to prove it wrong should indicate to you that what it shows is true. And that is, for every dollar circulating within our economy there will result a debt equal to the interest charged on that dollar. Simple math shows that the more money we borrow, the higher the debt will be.
Having learned the truth about interest charged on money and seeing that the problem can only worsen if we continue on this insidious path of borrowing money from any bank at interest you must act. At first that action only needs to be sharing that knowledge with others. And that may only entail directing them to this Blog. Ask people if they can prove this formula wrong. As more and more people become aware of the truth their voices will join in a call for control of their money. Eventually that call will become so loud that it cannot be ignored. No matter what party you belong to, or if you belong to no party at all, our call should be united. The government simply must take back control of our money. One thing is assured if no voice rised with this call. Things will remain the same and the debt that will enslave our children will grow to enormous bounds.
So this simple solution involves two steps. First, you must learn. Second, you must speak.
The prosparity of future generations depends on this. Without your voice they are enslaved.
There is only one road to economic viability. We retrieve our right to issue our own pronise to pay.
Comments to the author are welcomed. david.ealing@gmail.com
Part Two - How We Cause Debt
Part Three - The Solution
~~~~~~~~~~~~~~~~~~~~~~~~~
They say a picture is worth a thousand words. My hope is that the one below is worth a complete encyclopedia. This picture is not the way most would consider starting an article on Economic Viability. But once one realizes how the economies of the world operate, one quickly sees that the situation expressed in this photo is the best - the absolute best - humanity can hope for; its slow and agonizing consumption by vultures. Sadly, this picture expresses another reality; humanity's ignorance of the imminent danger lurking behind it.
It was a picture similar to this that made me stop and ask how and why this could happen. My search for answers lead me to conclude that all of us had a hand in this child's gruesome suffering and probable demise. I have been talking about that ever since. I feel it's time to revisit this conclusion; not to change it but to have it reconfirmed. You see, if this child didn't die on this day in 1994, ten thousand did. And since that day an average of fifteen thousand (15,000) children a day have starved to death. That's five million, four hundred seventy five thousand (5,475,000) a year! And during the sixteen years since this picture was taken eighty seven million, six hundred thousand (87,600,000) children have suffered the very cruel and lengthy death of starvation. That's just under two and a half times the total population of Canada! And today, January 11, 2011, over thirty thousand (30,000) will join them. And still, the world doesn't know why this happens.
And the world really doesn't want to learn why. What it wants is someone or something out there to blame. It's the famine, it's civil war, it's corporate greed, it's global warming, it's government corruption, it's the bankers, etc. The last one on this list (bankers) may be the closest to the truth but it's not the whole truth. The truth is it's our use of a private bank's "money" that's the partner in their insidious scheme. Whatever the banker's ultimate goal is, it cannot be realized without our participation.
Years ago most of us could have claimed ignorance of the inevitable result of borrowing "money" at interest, but not today. Humanity has been cautioned against this practice (usury) for thousands of years; virtually every religious text speaks against this practise. Yet virtually every religious person has entered one contract or another agreeing to participate in an economy that demands usury. Louis Even's The Money Myth Exploded, http://www.michaeljournal.org/myth.htm, at least as far back as 1932 pointed to the problem of paying interest on "money" printed against a barrel of rocks (thin air). Today many sites on the inter net point to the problems that stem from usury and a few even mention "solution".
But of all these there is only one that can model the present system's inevitable collapse as well a as model solution and that's Mike Montagne's Mathematically Perfected Economy. Mike has put out an 18 part video in which he presents these models. To see the models that show the inevitable collapse of our present economic system start at the 5:00 minute mark of Part 02A reached by the following the first link below and then continue with the full 9:05 minutes of Part 02B. By watching these two a few times you will see that inevitable economic failure is awaiting humanity.
Part 02A, 9:20 minutes:
http://www.youtube.com/watch?v=VmXlQ1Q8e1I&feature=related
Part 02B, 9:05 minutes:
http://www.youtube.com/watch?v=RJZOfsqpdMM&NR=1
The following link models the effects of moderate rates of interest.
Part 03, 2:21minutes:
http://www.youtube.com/watch?v=VrGKfxdmotU&NR=1
The following link models how high interest rates escalate failure.
Part 04, 0:56 minutes:
http://www.youtube.com/watch?v=XwkEiD2fWz4&feature=related
Why interest rates are necessarily reduced in the later stages are modeled in the following two links.
Part 05A, 7:00 minutes:
http://www.youtube.com/watch?v=t2bZOierVzs&feature=related
Part 05B, 4:48 minutes:
http://www.youtube.com/watch?v=GYDhlsWKlwI
The information gained from these six links should bring you to a position of knowledge concerning our present economic system. Economic viability does not exist anywhere within this system. It never did, doesn't now and never will. Study the information presented on these links and you should have no problem in seeing humanity's place in the above picture. We have been lead to believe that with enough effort we can reach the sanctuary represented in this photo by the United Nation food camp just a kilometer away. But, as is the case with the child in this picture, the energy to accomplish that no longer exists. In the case of our economy, at no time did it ever exist.
So where are you in the above picture? If you're reading this you're not one of the millions represented by the child. At thirty thousand a day it will take only another thirty-four days for the next one million children to starve to death. And that's just the children. All of these children are starving today and they will starve until they die.
But where are you. Are you well enough financially so that you don't have to worry about how the rent or mortgage will be paid next month? Or is it becoming harder to fulfill that obligation. Do you sense the vulture closing in behind you? And if not you, then how about your friends and neighbours. It's impossible today not to see the effects of our present debt producing economy. Debt is the final and only result of borrowing "money" from a private bank; a bank that merely prints our promises to pay; a bank that has no money; a bank that has already taken your neighbours two hundred thousand dollar home in exchange for $29.99 worth of paper and ink.
It is imperative that you listen to the information on the above links. If you don't you wont understand what's happening when they come for your home or your landlord is finally saying, "Please move out."
The collapse is inevitable. That means that no matter how secure you feel today, that security will vanish almost over night. No one will be unscathed. And we've seen the wheel barrow full of money it take to by a few groceries once hyper inflation hits. Don't be too sure it can't happen to you.
Part Two - How We Cause Debt
Photo by Kevin Carter
It may be hard for all who strive to improve their economic position to see how that activity contributes to conditions that lead to the stark contrast in the above photo. But contribute they do.
Recently I told a friend that I don't like my life. I saw my life being so much better if we all had the ability to create an abundant life for ourselves. My life has become uncomfortable because of the experiences that came as I looked for the cause(s) that created the effects reflected in the above pictures.
I have become saddened at what I found. It seems that most prefer to turn a blind eye to the problem and exercise a great sense of denial that anything they are doing could possibly be causing any discomfort to others. Or they throw up their hands and claim the problems too big and besides, nothing they can do would have any effect. Others say they'll only focus on the positive - seeing only the good and ignoring the rest. These people always have a smile on their face.
To them I plead, "Take your blinders off."
How many remember the song "Man in Black"? Not to compare myself with Johnny Cash but he saw problems that others seemed to ignore. He saw too that ignoring them does not make them go away. Here's the lyrics in case you've forgotten or never heard them.
"Man In Black"
Well, you wonder why I always dress in black,
Why you never see bright colors on my back,
And why does my appearance seem to have a somber tone.
Well, there's a reason for the things that I have on.
I wear the black for the poor and the beaten down,
Livin' in the hopeless, hungry side of town,
I wear it for the prisoner who has long paid for his crime,
But is there because he's a victim of the times.
I wear the black for those who never read,
Or listened to the words that Jesus said,
About the road to happiness through love and charity,
Why, you'd think He's talking straight to you and me.
Well, we're doin' mighty fine, I do suppose,
In our streak of lightnin' cars and fancy clothes,
But just so we're reminded of the ones who are held back,
Up front there ought 'a be a Man In Black.
I wear it for the sick and lonely old,
For the reckless ones whose bad trip left them cold,
I wear the black in mournin' for the lives that could have been,
Each week we lose a hundred fine young men.
And, I wear it for the thousands who have died,
Believen' that the Lord was on their side,
I wear it for another hundred thousand who have died,
Believen' that we all were on their side.
Well, there's things that never will be right I know,
And things need changin' everywhere you go,
But 'til we start to make a move to make a few things right,
You'll never see me wear a suit of white.
Ah, I'd love to wear a rainbow every day,
And tell the world that everything's OK,
But I'll try to carry off a little darkness on my back,
'Till things are brighter, I'm the Man In Black.
I tell you that as we strive to fill our bank accounts or even just to pay the rent, we are the creators of the debt that causes the poverty suffered by others. You can say that there is no choice, the rent must get paid and to that I would agree. But we need to see the cause of starvation before it can ever be eliminated. To see the cause we must look at the suffering.
By the 1960s in North America we started noticing problems within the environment. These problems were traced back to our use of DDT. Even then it took until 1990 until they were completely banned in Canada. Today the problems that were caused by our use of DDT are receding. The eagles are no longer on the endangered list and the amount of DDT residue in our food has greatly diminished.
But to correct that particular problem we needed to actually examine it. We couldn't just say I'm just going to look at the good that's in the world. Having looked at the problem we could then follow the evidence back to the cause. And the cause was us.
And once again the enemy is us. By looking at Mike Montagne's models in the links above you will see that the use of a private banks money results in debt. The use of DDT resulted in egg shells that broke as eagles sat on them and the enemy was us because we put the DDT into the environment. The use of a private banks money causes debt because we put those notes into circulation at interest. The DDT didn't get into the environment on it's own and a private banks debt causing notes don't get into circulation on their own. In both cases, "We have met the enemy and he is us."
Economic viability within our present financial system is at best an illusion and at worse, a tragedy.
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Next Week - Part Three - The Solution
The solution may be to take back control of our money but there is one major process that must happen first. We must learn and really understand the need to do so. Until the problem is clearly seen, the solution,the solution will never be implemented.
For this the media offers no help. We will never hear or see the cause of debt clearly outlined on CBC, or any of the national news media for that matter. Like all the major media in the States the owners of all media in Canada benefit from the current system of "Money creation". Nor will any member of our Government honestly inform the public that the debt that's slowly burying them is caused by the interest charged on a private banks money.
We wont get into the debate of whether or not the Bank of Canada is publicly owned or is private. That topic, as well as how the Bank of Canada operates as a private bank, has been covered in these posts.
http://formulafordebt.blogspot.com/2010/11/look-at-bank-of-canada.html
http://formulafordebt.blogspot.com/2010/12/bond-is-simply-promise-to-pay.html
http://formulafordebt.blogspot.com/2010/12/bond-is-simply-promise-to-pay-part-two.html
At least two members of our Federal Government must be aware of how our national debt is caused; our Prime Minister and our Finance Minister; but they don't and wont tell you.
Once again, we bring your attention to our formula for debt. This formula illustrates the guaranteed end result of just one loan. But as all money circulating within our economy has been borrowed and is thus part of a specific loan, this formula, by extension, can be applied to all of it. An explanation and illustration of the proof of this formula can be found in these posts.
http://formulafordebt.blogspot.com/2010/11/formula-for-debt_09.html
http://formulafordebt.blogspot.com/2010/12/all-for-one.html
If no help is forthcoming from Governments, corporations or the media it becomes necessary for individuals to do their own due diligence in finding the cause of debt. We're not asking that you believe our claim that interest guarantees an un-payable debt. What we're asking is that you take the time and attempt to prove the formula for debt wrong. Your falure to prove it wrong should indicate to you that what it shows is true. And that is, for every dollar circulating within our economy there will result a debt equal to the interest charged on that dollar. Simple math shows that the more money we borrow, the higher the debt will be.
Having learned the truth about interest charged on money and seeing that the problem can only worsen if we continue on this insidious path of borrowing money from any bank at interest you must act. At first that action only needs to be sharing that knowledge with others. And that may only entail directing them to this Blog. Ask people if they can prove this formula wrong. As more and more people become aware of the truth their voices will join in a call for control of their money. Eventually that call will become so loud that it cannot be ignored. No matter what party you belong to, or if you belong to no party at all, our call should be united. The government simply must take back control of our money. One thing is assured if no voice rised with this call. Things will remain the same and the debt that will enslave our children will grow to enormous bounds.
So this simple solution involves two steps. First, you must learn. Second, you must speak.
The prosparity of future generations depends on this. Without your voice they are enslaved.
There is only one road to economic viability. We retrieve our right to issue our own pronise to pay.
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Comments to the author are welcomed. david.ealing@gmail.com
Sunday, January 9, 2011
Words in Favour of Republic, Freedom and Liberty
Anyone who trades liberty for security deserves neither liberty nor security. Benjamin Franklin
In a Republic the people retain supreme control – they remain sovereign – sovereign over themselves and sovereign over their government. What a word, sovereign. It simply means the one in control, the one who has jurisdiction or authority; a wonderful thing for people to have.
My first memory of the word where it was anchored in my mind comes from the movie, The Alamo, with John Wayne. Watch clip: http://www.youtube.com/watch?v=xaPA8fGeRUc
Historians could write an interesting essay regarding the similarities between historical Rome and America Rome United States Rome and the United States United States
As a Canadian living under a Parliamentary Democracy I have always felt that the few are in control of my country. I’ve been taught that democracy is the best form of government possible (by those who control our democracy) but I’ve always seen that once elected, Members of Parliament seldom listen to those who elected them. Then I heard of a court case where the final decision rendered by the judge stated that there was no legal duty on an elected representative at any level of government to consult with his constituents or determine their views. The judge also adopted a statement from a previous trial that stated:
It is of the essence of our parliament system of government that our elected representatives should be able to perform their duties courageously and resolutely in what they consider to be the best interests of Canada
Note: Underlining added.
I think most Canadians would be shocked to find out that Members of Parliament have no obligation to represent them once they’ve been elected. And, that the courts agree that they should be free from any worry of being called to account by those who elected them. Imagine putting servants in charge of your estate only to find that you cannot call then to account. Something’s wrong with this picture.
The Littlechild Case
Proceedings taken in The Court of Queen's Bench, Docket # 9012000725
Law Courts,
10th December, 1990
The Honourable Mr. Justice, E.A. Marshall
Justice of the Court of Queen's Bench of Alberta
E. Molstad, Esq.
For the Defendant
F. Wall
For the plaintiffs
Official Court Recorder
THE COURT: Thank you. Well, as you suggested and conceded Ms. Wall, it appears clear to me that the Statement of Claim must be struck out -- that legal proceedings are not the correct forum to seek the relief which has been sought. Counsel for Mr. Littlechild has outlined the law. The Statement of Claim alleges a failure on the part of Mr. Littlechild to consult with the constituency members and a failure on his part to account to them, further failing to ascertain their views in voting for the government's goods and services tax and failing to adequately represent their views in his voting for the government's goods and services tax. It appears that the action is a claim of a breach of duty on the part of the M.P. of the Plaintiffs. It seems clear on the authorities and I note in Roman Corporation which has been cited, that if I have any doubt on this application, as to whether the plaintiffs have a cause of action, I must give the benefit of that doubt to the Plaintiffs and refuse the application and leave the matter to be decided at a trial. However I am satisfied the Plaintiffs have no cause of action against the Defendant. I know of no legal duty on an elected representative at any level of government to consult with his constituents or determine their views. While such an obligation may generally be considered desirable, there is no legal requirement. I adopt the quotation from the trial in the Roman Corporation case, where he said:
"It is of the essence of our parliament system of government that our elected representatives should be able to perform their duties courageously and resolutely in what they consider to be the best interests of Canada, free from any worry of being called to account anywhere except in parliament."
So, it appears to me that the only remedy existing for the Plaintiffs is the remedy provided by our Constitution in the right to vote in a future election. I note also that the prayer for relief gives some difficulty. They request an Order of the Court recalling the Defendant to account to the Plaintiffs in his constituency for his actions in parliament. I would be inclined to strike the Statement of Claim on that paragraph as well. But I note they do make a prayer for such other relief as the Court shall deem just which probably is general enough that the action could not be struck out on that account alone. So I am satisfied that no court can compel the Defendant to account to his constituents and just to show you what really occurs in this application, Ms. Wall, what I am really assuming for the moment is that everything you have said in the Statement of Claim is correct. Even if that is all true the Court can't give you assistance because in the drafting and the exercise in the use of our constitution through the decades, it has been the wisdom of our Fathers of Confederation and others that M.P.'s must be given a right to carry out their duties without any worry about being called to account during their term of office. That is the way our constitution was drafted and I must take judicial notice of the Act - - which relates to Members of Parliament, the Parliament of Canada Act, that the members of the House of Commons enjoy all the privileges and immunities of Members of Parliament, Parliament of the United Kingdom. So, under the circumstances I am dismissing -- or I am allowing the application to strike but the Statement of Claim and it will be struck out accordingly.
The remainder of the transcript deals with court costs (snipped)
***************************************************************
In the above transcript, the case referred to was “Roman Corporation Limited vs. The Hudson Bay Company”, both corporate entities. The reference itself does not refer to a “roman incorporation - roman person”; however, that case referred to the limited liability status of Members of Parliament - showing that Parliament is considered to be a “make-believe ship” - an incorporation in the Roman Empire style, whereby the crewmembers (of real or imaginary ships) are considered to not be responsible for their own actions, but are totally subservient to the captain and officers of the ship.
This little known decision should be delivered to every Canadian; probably to everyone under a monarch controlled Parliamentary Democracy. It seems that when we elect Provincial or Federal Government members all we’re doing is filling the Board of Director’s seats for one of the Queen’s foreign corporations known as Canada
Before a duly elected Member may take his or her seat and vote in the House of Commons, the Member must take an oath or make a solemn affirmation of allegiance or loyalty to the Sovereign and sign the Test Roll (a book whose pages are headed by the text of the oath). When a Member swears or solemnly affirms allegiance to the Queen as Sovereign of Canada, he or she is also swearing or solemnly affirming allegiance to the institutions the Queen represents, including the concept of democracy. Thus, a Member is making a pledge to conduct him-or herself in the best interests of the country. The oath or solemn affirmation reminds a Member of the serious obligations and responsibilities he or she is assuming.
The obligation requiring all Members of Parliament to take the oath is found in the Constitution Act, 1867, with the text of the oath itself outlined in the Fifth Schedule. [207] The Act states: “Every Member of the … House of Commons of Canada shall before taking his Seat therein take and subscribe before the Governor General or some Person authorized by him … the Oath of Allegiance contained in the Fifth Schedule to this Act …” The wording of the oath is as follows: “I, (Member’s name), do swear, that I will be faithful and bear true Allegiance to Her Majesty Queen Elizabeth the Second.” [208] As an alternative to swearing the oath, Members may make a solemn affirmation, by simply stating: [209] “I, (Member’s name), do solemnly, sincerely, and truly declare and affirm that I will be faithful and bear true allegiance to Her Majesty Queen Elizabeth the Second.”
Although the above states that: Thus, a Member is making a pledge to conduct him-or herself in the best interests of the country. It doesn’t state, however, that the member is making a pledge to conduct him-or-herself in the best interest of the people of Canada
What the above indicates to me is that Canadians live under the Dictates of a Monarch. Monarchists would disagree but in this day and age Monarchs are totally unnecessary. They serve no useful purpose. The day has long since passed that any person be born into a position of authority over others. That one person should be required to lower their head to another is in itself an injustice. That someone, through birth, expects or demands that should be an insult to all. That human beings have been conditioned to embrace the sovereignty of another rather then their own is a crime. And I rue the day that any sovereign Canadian is required to swear an oath of faithfulness and true allegiance Charles or any of his heirs. Nothing he has done has earned him that honour and birth should not grant it.
Republic
Now that you know what I don’t want let me reveal what I strongly desire. I desire a Republic where all are sovereign. Where each person is allowed to live as they decide as long as they fulfill three conditions.
1. That they harm no other person.
2. That they break no one’s property.
3. That they commit no fraud in their contracts with others.
What makes a republic great is the limits it places on government and the freedoms it leaves in the hands of the individual. All other forms of government (democracy included) have a way of dominating the individual as they gather more and more power unto themselves.
The American Declaration of Independence is a powerful document but it’s in need of some improvement. Its wording left doors open that allows for the deceitful usurpation of power by groups motivated solely by what would benefit themselves the most. As an example, look at these lines from that document.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty
Three points are presented here.
1. Individuals have the unalienable Rights of Life, Liberty
2. Governments are instituted to secure these rights.
3. Governments derive their power from the consent of the Governed.
These three emanate from the true seat of power; the consent of the Governed. But where the founding fathers thinking about vocal consent or was tacit consent included? I would submit that it has been tacit consent that slowly eroded that true seat of power and placed it firmly with the few; the oligarchy.
An example of tacit consent happens after each election. Shortly after an election all constituents of a riding will receive a notice in the mail. This notice will be from the person who received the most votes in the election. It will be a notice of introduction and will say, “Hello, I’m ____________. I’m your new representative.”
Most people don’t recognize this as an offer. The elected person is making an offer to represent the constituent in Parliament. There is then a period of time after the constituent receives this notice and the time the elected person takes the oath of office. This is an important time for it’s the only time the constituent has to say, “No, I don’t accept your offer to represent me.” The constituents’ failure to respond is taken as their tacit consent that the elected person can act as their representative. Having received no negative responses, the elected person can now claim to have the consent of 100% of the constituents of the riding.
I have heard people say, “That person doesn’t represent me. I never voted for him or her. The truth is, if you didn’t say no, you said yes.
Another example: I have a friend who worked all her life and made a fairly decent income. Due to illness my friend became unable to work and over time was forced onto government assistance. When my friend learned how little she would receive her comment was, “How do they expect a person to live on this.” I told her that she had previously agreed that it was a fair amount. I explained that the government had passed an Act in the Provincial Legislature stipulating the amount that a recipient of benefits would receive. Again, they waited an appropriate time, usually thirty days, before making it Law. Those thirty days were my friend’s opportunity to voice her opposition to the Act. Failing to do so was her tacit consent. With no opposition to the Act, the government could now pass it into Law. My friend had given her tacit agreement to the Act and thus, had lost her opportunity to complain.
I don’t believe the founding fathers looked at this possibility. If they had I’m sure that they would have stipulated that consent must not be gained through tacit means. I do believe, however, that Monarchies have only given up control with the knowledge that control can be regained through tacit consent.
With the tacit consent of the people of the Republic the American oligarchy now claims to be a democracy, a word that cannot be found in the Declaration of Independence or the US Constitution. And it is this Democracy they intend to spread to the rest of the world. They’re not intending to spread a Republic. I wonder why.
It is said that when Benjamin Franklin exited the Constitutional Convention a woman asked him, “Sir, what have you given us?” To which he replied, “A Republic Ma’am, if you can keep it.” Through tacit consent, it was lost.
Once one sees how individual rights can be eroded by the manipulation of our own tacit consent it becomes evident that liberty and freedom can only be had through a consciously retained Republic. One in which the scope and power of the government is limited. The sole purpose of the American Bill of Rights was to safeguard individual rights by limiting Government power. The whole document is about what the government “Shall not do”. I watched a video yesterday where the narrator stated that the tenth amendment basically says, “If we forgot anything, you can’t do that either.”
The powers not delegated to the United States
As a Canadian I vote that we pursue a Republic form of government. I urge all people everywhere to pursue that end. Until we have that we will have slavery.
With the present forms of governments around the world a very few in each country lead the many into confrontations and war for their own gain. Hermann Goering, Hitler’s number two man probably said it best with the following:
“Why of course the people don’t want war. Why should some poor slob on a farm want to risk his life in a war when the best he can get out of it is to come back to his farm in one piece? Naturally the common people don’t want war neither in Russia , nor in England , nor for that matter in Germany
Goering was commenting on how to generate public acceptance and enthusiasm for the mass slaughter that is war. Next read Julius Caesar’s comments; they sound somehow familiar.
“Beware the leader who bangs the drums of war in order to whip the citizenry into a patriotic fervour, for patriotism is indeed a double-edged sword. It both emboldens the blood, just as it narrows the mind.
And when the drums of war have reached a fever pitch and the blood boils with hate and the mind has closed, the leader will have no need in seizing the rights of the citizenry. Rather, the citizenry, infused with fear and blinded by patriotism, will offer up all of their rights unto the leader and gladly so.
How do I know? For this is what I have done. And I am Caesar.”
The only defence that the people have over these forms of lies is a consciously held Republic. To do that the people need to firmly grasp the knowledge of what rights are theirs. They must constantly be on guard to protect these rights for without them they become slaves. They must never forget that with freedom comes responsibility; not only the responsibility to protect their own freedom and liberty but the responsibility to protect their neighbours as well.
Much more could be written but I’ll close with something written and published previously.
Be careful of this word "freedom", especially if you want freedom from responsibility. You should know that there are those who are more than willing - in fact they are eager to embrace that which you cast off. And years later when your grandchildren become adults they will be docile followers of those who picked up what you left behind.
Today the world is full of docile people. They know that responsibility for their children's education rests with the school board; that the responsibility for hospitals and medical care rests with the health "authority"; that the responsibility for law and order rests with the police; (they're even cautioned, "don't get involved. Call the police.") They know that the responsibility for their country's economy rests with the central bank and they know that their relationship with the people of other countries rests with the government.
But slowly, painfully slowly for some, there is an awakening going on today. That awakening is the realization that all the above mentioned responsibility rests not with any authority; it rest squarely on the shoulders of the people. The people have elected and appointed servants, not sovereigns. Sovereignty's rightful place rests with the people; always with the people. The people forgot for awhile, but now memory's return journey has begun.
Today the world is full of docile people. They know that responsibility for their children's education rests with the school board; that the responsibility for hospitals and medical care rests with the health "authority"; that the responsibility for law and order rests with the police; (they're even cautioned, "don't get involved. Call the police.") They know that the responsibility for their country's economy rests with the central bank and they know that their relationship with the people of other countries rests with the government.
But slowly, painfully slowly for some, there is an awakening going on today. That awakening is the realization that all the above mentioned responsibility rests not with any authority; it rest squarely on the shoulders of the people. The people have elected and appointed servants, not sovereigns. Sovereignty's rightful place rests with the people; always with the people. The people forgot for awhile, but now memory's return journey has begun.
Remember freedom. Remember liberty.
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Comments to the author are welcomed. david.ealing@gmail.com
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