Bullshit Economics

All our lives, the most repeated statement regarding economics is that "it's all about supply and demand", which on the surface, seems quite agreeable with common sense. It is reasonable that if the supply of a particular commodity is low and demand for it is high, then one would expect to pay a premium for that commodity. Likewise, the inverse, there being a more than adequate supply of a commodity and not much of a demand for it, would not require a premium and be less expensive.
Many would perhaps think that an 'ole farmer wouldn't be much more versed than the above regarding this subject. But, I am here to say "bullshit!" I realize, of course, that "the shit I know, is all I know" however, I do know some stuff and I will share some with you in this post:
(1) I know that our economy has evolved into a consumerist pig trough enabled by available credit.
(2) I know that the flow of credit is, at best, stagnant and that we are collectively 10s of trillions of dollars in debt.
(3) I know that we are allocating several more trillions of dollars in an attempt to revive the very same debt based consumerism that recently blew up in our face.
An 'ole farmer need not go much further in knowledge to recognize what is happening with our economy makes no sense what so ever. It's like having stuck a finger in the garbage disposal,then going to the ER and having it sewn back on, so as to stick it in the disposal again. It's hard to believe that these congress folk with Harvard degrees don't know the problem lies in the false premise that an economic system can develop on the basis of debt. Isn't that something like a multilevel marketing scam, or one of those ponzi schemes in the news lately? So, I thought I'd Look into it a bit.
Seems as though since at least 1864 we have been operating on a Debt based banking system. Well, hell, that's our real problem right there. Who's stupid idea was it to allow banks to loan more money than they actually have- theirs, I'm sure. But, how is it possible for a bunch of 'ole farmers to agree to allow such non-sense as the basis of a national economic system. I'll tell you, confusion and deception. Deception is evil.
Almost a hundred years back a bill passed in the senate called "the Federal Reserve Act of 1913" seems as though most folks in the senate were deceived by thinking business was put on hold 'till after vacation. When they returned, they found that technically , the session had not been officially closed, and that a handful of senators unanimously passed a bill into law, effectively giving control of the nation's monetary system to a bank. This bank named itself the Federal Reserve Bank; further deception so as the 'ole farmers would associate the word Federal with Government- so for almost a hundred years, most all the people have assumed the Federal Reserve is a government entity. It is not. It is a private,for profit bank with shareholders and all that good stuff. Further deception is added by the President appointing two folks to the Board of the Federal Reserve. The thing is, however, there are seven members on the Board, thus making the nation out numbered by the stock holders.
Here is a farmer's version of how our monetary system works, and keep in mind whatever faction controls the system, ultimately, controls the economy:
Our government needs money to operate. We get this money by issuing bonds and selling them. These bonds are backed by only our good word that we will honor the debt, the full faith and credit of the United States. So, we sell them to other countries and private factions. When we need money fast, or there is not enough market for the amount of money needed, we sell bonds to the Federal Reserve Bank. The Federal Reserve Bank pays for the bonds with nothing more than an "entry" into the books- with their full faith and credit. They then are allowed to loan back to our government 10 times the face value of the bond which they purchased for nothing out of pocket, and the government pays this amount back with interest to boot! Thus the need for income tax on the people. This is so absurd that most folks can't even accept it as true, however, sadly enough, it is.
Here is what Representative Charles Lindberg said about the Federal Reserve Act of 1913 back in the day. "This Act establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the monetary power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed...the worst legislative crime of the ages is perpetrated by this banking bill."
In the more recent past, Sen. Barry Goldwater said, "Most Americans have no real understanding of the operation of the international money lenders...the accounts of the Federal Reserve System have never been audited. It operates outside the control of congress and...manipulates the credit of the United States." Just recently we know that they won't even say "where the monies went or how it was spent" We as tax payers have allocated over 9 trillion dollars to "fix" the economic problem with only about 2 trillion voted on by congress or talked about- that leaves the remainder unaccounted for. I ask a simple question; Who is running this show? Certainly not congress, and certainly not 'ole farmers.
Most folks, even having knowledge of this slight of hand absurdity, come to the conclusion that there is not much to be done about it. However, as simple as the scam is, so too, the solution.
All that needs to happen to relieve our dire economic situation is to pay off the debt (bonds) with debt free notes that are printed by the U.S. Treasury rather than the Federal Reserve Bank. We need to abolish fractional reserve banking. As the debt is paid off, the reserve requirements of all banks and financial institutions would be raised proportionally at the same time, thereby curbing the resulting inflation from the influx of all the new money. Keep in mind, that at present, a bank only has to have 8 percent of the money on their books in reserve. Thus, we could pay off debt until banks had 100 percent reserve, without inflationary risk.
Of coarse, we would also need to repeal the "National Banking Act of 1864" and the "Federal Reserve Act of 1913", since they delegate the money power to a private banking monopoly - they must be repealed and the power be transferred back to the Department of Treasury as was under President Lincoln. Also, we should withdraw from participation in the World Bank and the International Monetary Fund, as they operate along the same debt based ponsi scam.
So, it could all be that simple. I will leave it to the reader to surmise why this isn't debated or implemented.