Comment 62849

By Kiely (registered) | Posted April 29, 2011 at 08:51:57 in reply to Comment 62844

The problem is money and the economy aren't REAL. If I go to a bank and take out a $100K mortgage they don't call the mint and order up more bills. The "money" simply comes into existence as debt. That debt is the "money". The bank can sell that debt.

The entire system is designed to make real wealth for a select few off of the increasing debt load of the majority. The system cannot stop creating debt or it risks collapse.

We can free-market our asses off that isn't going to help us. The list of philosophers, intellectuals, politicians, ex-presidents, even some economists and bankers that have warned us about this system and its inevitable dire results is a long one... but don't worry, just believe in the "invisible hand".

We need to educate ourselves about what "wealth" is, how "money" comes into being... what is "The Economy", who benefits when it grows and who doesn't. If anything is going to change for working people, for the "average" family, we need (at minimum) election and banking reform. But reform born from ignorance, like money born from nothing, isn't going to help us.

It is well enough 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." - Henry Ford

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