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Thread: For a Racial Capitalism

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    Quote Originally Posted by Moody Lawless
    STANDARD: 4. The SET PROPORTION by weight of gold or silver to alloy metal PRESCRIBED for use in coinage.
    [Dictionary.com, my emphasis]
    Set by banks who compete with other banks for customers. Fractional reserve banking is possible under Anarcho-Capitalism.
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

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    Post The Wit of a Banker

    Fractional Reserve Banking: ... In the USA this system is maintained by the Federal Reserve Board.
    [Dictionary.com]
    Why are there beings at all, & why not rather nothing?
    [Leibniz/Heidegger]

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    Quote Originally Posted by Moody Lawless
    Fractional Reserve Banking: ... In the USA this system is maintained by the Federal Reserve Board.
    [Dictionary.com]
    Supposedly. The Federal Reserve notes aren't based on the Gold Standard though, so "fractional reserve" is a misnomer.
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

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    Quote Originally Posted by Moody Lawless
    Fractional Reserve Banking: ... In the USA this system is maintained by the Federal Reserve Board.
    [Dictionary.com]
    The Federal Reserve is illegitimate as it's a privately owned corporation (seriously, it's not owned by the US Government) which wields total power to manufacture currency and that currency is not based on Gold (it would be more tolerable were it controlled by the Government that did have a Gold Standard, from a Capitalist perspective). That's three points against it and the term "fractional reserve" is not applicable to it.
    All men dream, but not equally. Those who dream at night, in the dusky recesses of their minds, wake in the day to find that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams, with open eyes, to make it possible.

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    Post Fractional Reserve Banking and the Gold Standard

    There are two positions to the first case [FR-Banking under the Feds.]; one does not see the Fed. Reserve as privately owned but partly under government control, while the other does. Libertarians say the Feds. are privately owned and yet the reason they give while endorsing the Gold Standard [GS], is that governments are bad and should be done away with and contradict themselves. I'll get back to this later.

    This is a simple introduction of what people mean when they say the Fed. creates money out of 'thin air' :
    [I don't agree with all of what is said here, but it is fairly correct about some of the points it makes.]


    --------------------------------

    http://dkd.net/davekidd/politics/moneyapo.html


    1.

    Over the last 30 years, the global economy has led almost every country on Earth into escalating and irretrievable national debt. The global economy has unnecessarily inflicted unthinkable amounts of damage upon the human race and our planet in the process.

    In 1971 the ‘New World Order’ began, when changes were made to the US national currency. In 1971 the US Federal Reserve Bank severed the link between its national currency and gold. Since 1971, US currency has been created by a new method, namely through bank loans. This new kind of US currency began destabilising other national currencies, forcing them to ‘float’ their currencies, that is, change to the US designed ‘globalised’ currency system

    After the currencies were changed the illusion persisted that hard work and productivity still created money. This illusion is created because workers receive money in exchange for their labour or productivity. Money comes into our existence through our productivity, and thus it is easy to assume that is how money is created everywhere. Nothing is further from the truth. The reality is that hard work and productivity no longer have any direct link at all to creating money. Because of the way money is now created, money can no longer reflect the productivity of any industry or country.

    This new ‘global economy’ is still trading on society’s goodwill towards the old type of currency systems that no longer operate. Most people still think a dollar is a dollar, but the shift into the new economy that world governments have embraced since 1971 has turned national currencies into national death warrants.

    HOW MONEY IS CREATED INTO CIRCULATION
    Money now represents bank debt, not national wealth. When a country ‘globalises’ its economy as Australia did in December 1983, all new money that comes into circulation now does so as a debt to a bank. Money no longer comes into existence as the result of labour, production of goods or by mining gold. Nor does money come into circulation by banks lending out their customer’s deposits. These are commonly believed but dangerous misconceptions. In the new global economy, money is now created only through bank loans. Now labour and production merely redistribute the money that is created by banks.

    When banks grant a loan and a borrower’s account is credited with an amount of money, that currency is created in the same instant. It is suddenly brought into being from nothing. The money did not exist before the moment the loan was granted. When that borrowed money is spent, it is then ‘in circulation’.



    2.


    HOW MONEY IS REMOVED FROM CIRCULATION
    When a debt is repaid, the loan and the dollars, euros, yen, etc that the loan created, all cease to exist. They are cancelled out. Other loans create more currency by the same process to replace it, and so on. The repaid money is not in the bank. It is no longer anywhere and it is certainly not in circulation. All debt repayments reduce the money in circulation by that amount.

    In ‘good times’, as people pay off their debts, they are in fact drying up the amount of money flowing around in circulation. This creates a shortage of money and thus everyone in society must have less of it. Everybody tries to understand how they can be working so hard yet have so little cash in their pocket, and businesses lay off workers or go bankrupt.

    The only way to replace currency in the present global economy is to take out another loan. This is why governments now “borrow their way out of debt”. As there is no other source of money, a country’s overall ‘debt’ must always remain unpayable and must continually grow as the economy ‘grows’. This is why national debts have escalated in the last three decades.



    3.

    THE FATAL TRAP - DEBT IMPLIES INTEREST THAT IS UNPAYABLE
    The global economy has a designer-flaw built into it. Interest is the planned spanner in the works that sabotages the global economy by ensuring there can never be enough money in circulation for everyone to have sufficient. When each loan is repaid and disappears, it leaves a residual deficit of interest that accumulated from the loan.

    This is the key point to understand. In order to pay that interest more currency must be found than, by definition, can ever possibly exist. Not enough money exists to pay off the interest after the debt itself has been cancelled out. The only way to get more money to pay the interest is to borrow more through another loan.

    By the end of the second loan, the first loan’s interest has been paid off, but now there is not enough left to even pay off the second loan, let alone pay its interest. A third loan must be made, and as this cycle is repeated, the amount of residual debt created by interest mounts up to impossible levels. It is as simple as 100 – 110 = –10. For every ten steps the economy now goes forward, it must take eleven steps backwards in the form of national debt.

    A single loan never creates enough currency to enable it to be paid back with interest. No loan on Earth ever creates enough currency to pay back its capital and interest. All loans on Earth have created a global economy that can never have enough currency in existence to pay out the loans. This is by design, since 1971. The global economy is a pyramid sale, a planned time bomb, designed to reduce the world and the human race into a global catastrophe. The ‘global economy’ makes it inevitable that every national debt must eventually become large enough to cause national bankruptcy.



    4.

    IN THE GLOBAL ECONOMY, ‘CREDIT’ NOW REALLY MEANS ‘DEBT’
    In the new global economy the word ‘credit’ has taken on a new and deceptive meaning. Most of society thinks of ‘credit’ in the old way. Consider making a purchase from a shopkeeper using two different methods of ‘credit’.

    In the first way, the shopkeeper gives you $100 worth of goods on credit. A year later you pay the shopkeeper $100, plus $10 interest and you are even. In the second way you get $100 of ‘credit’ from a bank (say by using a MasterCard), which you use to buy $100 worth of goods from the shopkeeper. A year later you pay back the bank $100, plus $10 interest and you are even.

    The two methods of payment seem identical at first but there is a huge difference. When you get credit from a shopkeeper and you pay off the debt, the $110 of cash is still circulating in town. However, when you get credit from a bank and you pay the bank back the debt, only $90 of cash is left circulating in town. The $10 of interest had to come from the $100 that the MasterCard generated. There is nowhere else it could come from. The globalised economy is like a sleight of hand card trick.

    The shopkeeper method of credit is real credit, that is, an extension of goods. The bank kind of ‘credit’ only represents an extension of a debt. Most people still think modern bank ‘credit’ is like the shopkeeper credit.

    When the world changed over to the ‘debt money’ economy, it became impossible for wealth to accumulate as it could in the old economy, because now the money keeps disappearing from circulation as it is used. Wherever you see the word ‘credit’ concerning banks or finance, it can accurately be replaced by the word ‘debt’.

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    Post Fractional Reserve Banking and the Gold Standard

    Continuing :

    5.

    INTEREST IMPLIES COMPETITION
    In the current economic system, which is based upon the principle of ‘not ever enough to go around’, the players are forced to compete by grasping at the dollars that are left. The cruellest, meanest, most selfish and most dishonest players get the available money while the more decent members of society are eliminated altogether.

    The surviving players who provide products and services to the marketplace are not the ‘best of the best’ sorted through competition in excellence. They are merely the players that fight hardest and dirtiest to get the insufficient dollars available. Consumer choices, prices and quality of goods are dictated by how much is left for actually making the product after the research and marketing wars are over.

    The sociological effect of the Western run economy dictates that there be competition between every facet of society. The new way of creating money forces members of society into conflict and competition with each other against our better natures and judgement. This keeps society divided and unable to unite effectively on any issue.

    When society is structured around the rule that there can never be enough to go around for everyone, its citizens live in an ongoing terror of not having enough personally. As a result, society seems to mostly consist of citizen against citizen. After a while people in a society like this would have no choice but to be convinced it was human nature to be viciously cruel and competitive. Most of the human conflict and environmental devastation in our modern world would disappear if the global economy ran to a policy, which made financially possible that which is physically possible.



    6.


    INTEREST IMPLIES CONTINUAL ‘GROWTH’
    In order for the global economy to stay viable it must continually expand. It was a necessity to ‘develop’ third world countries so that the markets of the first world countries could survive via economic expansion. Third world ‘development’ is simply the transferral of the unrepayable interest debt from the first to the third world, to benefit the first world at the expense of the third.

    The third world ‘development loans’ were used to generate enough currency globally, to allow the first world to pay off its debts and interest. After the third world countries’ environments and lifestyles have been irreparably ravaged, instead of prosperity they are left with unmanageable debts that can never be repaid.



    7.

    WHO OWNS OUR MONEY?
    It often comes as a surprise to learn that national governments do not own ‘national’ currencies. Even Federal Reserve Banks are privately owned corporations (despite their misleading names). Due to the changes that were introduced into the new global economy, multinational banks actually own and control ‘national’ currency now.

    The person with whom legal custody of a commodity resides can be termed its owner. Before 1971, money represented an existing commodity, namely a chunk of gold stored in a bank.

    All the money now brought into existence is borrowed by an individual, an industry or a nation from a bank somewhere. It was not given nor earned anywhere, it was loaned and it must be given back one day. Thus, whoever holds this borrowed money, only holds it in trust. Nobody really ‘owns’ money as they used to, and still think they do.

    The bank that created the money against a debt is the ultimate owner of it, because a contract says the money must eventually be given back to that bank, which only ‘loaned’ it in the first place. You cannot lend what you do not own. Ironically, the banks only ‘own’ money while you hold it, because once the bank gets ‘their’ money back it vanishes.


    8.


    PLANNED SCARCITY – GOING WITHOUT IN THE MIDST OF PLENTY
    At the end of each cycle of production, our present economy guarantees that there will always be more goods produced than can ever be sold. Governments regularly make up the inevitable shortfall of income to multinational industries as grants, bribes, subsidies, tax breaks and free infrastructure.

    This extra funding for multinational industries artificially gives them the appearance of being profitable because they can afford to sell their goods for less than the goods really cost to produce. Nationally owned businesses cannot compete with multinationals on such a non-level playing field. If multinational industries worked to the same rules as the national businesses that are taxed to support them, the multinationals would go bankrupt. Global fishing and forestry industries illustrate this point well.

    It usually comes as a surprise to realize that prosperity causes recession. In ‘prosperous’ times when society reduces its debt by paying off its loans, the amount of money in circulation dries up as a result. Shops may be over stocked with goods and people may want to buy them but they do not have money to do so. There may be many who want to employ people or become employed but without enough currency in circulation - nothing moves. The only way out of recession is to borrow more debt-dollars to circulate, which increases national debt further.

    More than half the world goes without because of insufficient currency in circulation. ‘Debt created’ national currency restricts a population’s ability to produce enough for themselves, even if there is a desperate national need for products or services.

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    Post Fractional Reserve Banking and the Gold Standard

    9.

    EXPORTING ONLY MAKES DEBT GROW LARGER
    In many people’s minds the key to reducing national debt is to increase exports over imports, thus making a net profit to pay off debt. There are two flaws in this dangerous notion.

    Firstly, if virtually every country on Earth is in debt, as they are, then how can trade ever balance the global economy? One nation’s profit is another nation’s loss. A group of bankrupts cannot balance their books by trading amongst themselves.

    Secondly, imbalance of trade did not create national debt so it cannot solve national debt. National debt is created by the planned and unnecessary shortage of currency in circulation. Trade imbalances appear to be the cause of national debt, only because the shortfall created by interest payments always ensures that nations appear to have a negative trade balance long-term. This is why so much global trade produces so much global debt. The debt-dollar economy guts trade of the ability to ever create overall profit.

    Blaming national debt on balance of trade keeps society focused upon the red herring of ‘salvation through export’, and conveniently keeps society ignorant, and looking elsewhere from, the real cause of their social poverty and environmental destruction. As export industries borrow more money to expand, they are, in reality, further strangling the very people they claim to be saving.

    Over 50% of global export trade is reciprocal where exactly the same goods are exchanged between countries. How can a can of tomatoes be cheaper if we unnecessarily ship it across the world before putting it on the supermarket shelf? In the modern global economy, creating new export markets is simply a dishonest front for creating more loans. Exporting is not about making people’s lives better, nor about balancing national debt. How can exporting, a system that creates more debt, ever be expected to get us out of debt?



    10.


    THE GLOBAL ECONOMY DESTROYS THE ENVIRONMENT
    The present global environmental destruction is directly related to the debt-dollar financial system. For over half a century scientists and research bodies worldwide have been warning of impending environmental disaster, and we are now beginning to suffer from the disasters we were warned about. Human society and Earth’s biosphere are suffering from our monetary system. We usually dare not take into account the damage we inflict on society or the environment as we fight to survive in a rigged economy.

    During the decade of the 1990’s, debt-dollars demanded that the global economy grew at about 4.3% per year. At a growth rate of just 4% per year, in 100 years the global economy would be 50 times larger than today, and Earth is already falling apart from the demands of the present sized economy.

    Watchdog and protest groups from local organizations right through to the international bodies such as Greenpeace continually petition socialist and conservative Governments to impose restrictions on waste discharge from government and corporate industry. They appeal for a curb on greenhouse gas emissions into the atmosphere and the dumping of toxins into waterways. On a daily basis naïve protesters fight the endless symptoms rather than address the root cause of all the problems: the new global economy.

    Human greed is sold back to the protestors as being the underlying cause of the problems, but the problems caused by economic scarcity are really the underlying cause of the human fear and greed. In reality, the global environment is being raped by a world population that is crippled financially by nothing other than the new global method of creating money.

    The cost of curbing and cleaning up greenhouse gas emissions and other industrial pollutants is financially impossible in the present global economy. The ability to clean up the environment, and the desire of society to do so are evident, but the scarcity of dollars means environmental care is an economic impossibility.



    11.

    SOCIAL CONTROL THROUGH ‘NATIONAL CURRENCY’
    Creating money as a debt and thus as a rare commodity for which we must compete, has spawned a society that sees money as humanity’s most essential commodity. People’s first waking thought and daily preoccupation are now largely focused upon money as the most important consideration. The Western lifestyle has become obsessed with money as though money is the single key to all opportunity and happiness in life.

    Banks can create financial expansion or contraction with a mere flick of the interest rates. As such, the banks control our economic, social and environmental fate. We may pay taxes to the Government, but it is the global financiers that dictate our future. For example, if citizens complain too much about the environment, the banks can ‘punish’ a nation. Keeping money supply low for a while will usually shift public concern from the environment to personal survival.

    This subtle switch in creation and ownership of money is a new feature of the global economy. Before 1971 society could indeed create and own its own wealth. This new method of currency creation, which started in 1971 is a bid by banks to stealthfully take ownership of everything on Earth. It is currently only a matter of time before that is the case.

    -------------------------------------------


    You all can read the remaining there.

    Now for the Libertarians and the GS.

  8. #58
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    Post Libertarians and the Gold Standard

    The general libertarian belief is something like that presented in the following view espoused by Rothbard/Rothbardians, "under the best gold standard, there would be no central bank, gold coins would circulate as freely as their substitutes, and rules against fraud and theft would prohibit banks from pyramiding credit on top of demand deposits. So long as we are constructing the perfect system, all coinage would be private. Banks would be treated as businesses, no special privileges, no promises of bailout, no subsidized insurance, and no connection to government at any level.

    This is the free-market system of monetary management, which means turning over the institution of money entirely to the market economy. As with any institution in a free society, it is not imposed from above, dictated by a group of experts, but is the de facto result that comes about in a society that consistently respects private-property rights and encourages enterprise." (http://www.lewrockwell.com/rockwell/goldstandard.html)


    They base their reasoning on the fact that Gold is limited and will therefore check any inflation, but check out where they head with this in the last para -

    "The amount of gold in the market is limited by the profitability of mining it out of the ground. The quantity of money, therefore, is controlled by the market forces of supply and demand.

    But the mistake these friends of freedom made was that they still believed that governments had to be given the authority to manage the gold standard, even while that gold standard was meant to check governmental abuse of the money-creation process. The fox was assigned the role of watching over the chicken coop. As was to be expected, the system failed. The 20th century has seen tidal waves of inflation in various countries as governments found ways to circumvent the trust assigned to them under the gold standard and then rationalized the issuance of vast amounts of paper monies — all done in the name of the "national interest."

    Money must be separated from the State. The Federal Reserve System must be abolished; all legal tender laws prohibiting individuals from using and contracting in whatever money they desire must be eliminated. The market — which means all of us in our roles as consumers and producers — should be left free." (http://www.fff.org/freedom/0290b.asp)



    Money must be separated from the State - meaning, currency becomes another commodity, instead of indicating money in fact is only a transference of wealth, it is not wealth per se.

    BECAUSE Gold is limited, creating wealth means you have to mine more gold. The annual production of gold would need to tally with the cummulative salaries of all the people in that nation. But because you are left with a fixed supply of gold, it becomes less valuable by the hour and wages are paid again without any backing up. You are again left with the problem of inflation.

    Also, under libertarianism, anyone can buy anyone up. Today, the corporations that mine the gold are mostly under the control of the Rothschilds, etc. By privatizing gold, non-Euros could very well control not just the economics but the politics of the country. Libertarianism was written up for people who are already successful; it has no relevance to the concept of "Becoming", it is for the ones who have Become. It is static in this sense.

    If you look up to point no. 5 above - "the players are forced to compete by grasping at the dollars that are left. The cruellest, meanest, most selfish and most dishonest players get the available money while the more decent members of society are eliminated altogether.

    The surviving players who provide products and services to the marketplace are not the ‘best of the best’ sorted through competition in excellence. They are merely the players that fight hardest and dirtiest to get the insufficient dollars available." - the Libertarians are only proposing a substitution of Fiat money for Gold while all the rest remains the same.

    When you privatize gold and tie a 'national curency' to this GS, you are in fact introducing the same conditions as above - to openly bid for it!

    This is a pit-fall, and all racialist gold-bugs must question what the Libertarians are upto. Its why Mahathir said -

    "I mention all these because society must be protected from unscrupulous profiteers. I know I am taking a big risk to suggest it, but I am saying that currency trading is unnecessary, unproductive and immoral. It should be stopped. It should be made illegal. We don't need currency trading. We need to buy money only when we want to finance real trade. Otherwise we should not buy or sell currencies as we sell commodities." [Mahathir]

    Easy way of understanding this is to see what happened to Argentina.


    Argentinian pesos were pegged to the International USD. When their currency started to devalue, they needed to buy their debt back using dollar-reserves. Now what happens when they run out of dollars? Their currency crashes. Its the same situation when you peg any currency to gold. When the gold runs out, your currency is done for. This is how Soros annihilated some economies. In there, you have the biggest myth of the free-market economy. All libertarians know this but they push it anyway.

    The Libertarians want just this. Why? Because their economics is tied with their Politics of a one-world-state. Sure, it seems like they are opposing all authority, but that is the point. They oppose so that they are finally the ones who dominate and control. By 'they', I mean the Jews and enemies of our Europe. Its inevitable to think otherwise because it is they who own all the property now. Libertarians uphold the law and emphasize so much on natural rights, precisely because they are against law-enforcements! Its anarchy dressed up respectably. We'd be wise not to fall for it.

    The GS is only a tool. You really don't need to back your currency up - Hitler didn't. Hitler tied his Fiat money with the worker's productivity; a national-racialist state would / should automatically have confidence in its own currency without any psedo-backing up with gold, etc. Because our people are our real resources. In my view, Fiat money under a leash by sound racialist laws of a government, can still give free-play for pvt. corporations to be competitive while at the same time not have the destructive effects of global free-trade.

    Also, I think the Fed. Reserves are partly under government control; they are not entirely privately owned as is the popular opinion.

    Later.

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    Post Re: Libertarians and the Gold Standard

    Chart of who owns the Federal Reserve -

    http://www.save-a-patriot.org/files/view/whofed.html

  10. #60

    Post Re: Racialism & Capitalism

    Oh yes, we have perfected Racialism and Capitalism to perfection in the USA. In case you Europeans want to get started here, let me give you the successful game plan.

    You move to the USA with a little money. You start in business, any business. You save the best deals for others of your ethnicity. You can identify others of your race by their sir-names or simple asking them if they are a "Landsman" over the telephone. After meeting them, you get together and devise ways of entering the financial community (banking). Once you do this, you and your racial brothers start bribing politicians (campaign contributions) so they will change laws for you and your brothers. You then aquire the bank that actually prints the money. You and your fellow bankers loan the paper you have just printed and called "money" to the citizens of the USA at whatever rate of interest you desire. You then further bribe the politicians into borrowing money to finance goverment programs from your bank. As an aside, you loan "investment banks" that you and your brothers own money at the very lowest rate so they can gamble on the stock market. Then you realize that you don't need to gamble, you can sell the stock you bought after the stock market closes by back-dating the transactions. The sun never sets with your investment bank owning stock. Your race controls the interest rate on trillions of dollars of national debt and can manipulate the stock market at will---as well as the price of gold and the commodity markets. At this point you can tell Presidents what to do or tell them how their military should be run and where it should be sent next. Or, in the words of one Landsman, Bob Dillion: "Steal a little and they throw you in jail, steal a lot and they make you king".

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