The Gods Of Money: How America Was Hijacked
"The government is not like a household, it's like a bank. It's one of two ways to create money, and if you don't let them create money by spending more than they take back in taxation, you have to rely on the private banking system to create the money and you therefore get private debt bubbles." ~ Steve Keen I wish William Engdahl would've talked about the difference between fiscal and monetary policy because the government DOES use its ability to create money for budget proposals and bank bailouts. The crash of '08 needed a total bailout of $29 trillion! The fiscal budget can come up with billions every year for defense spending, corporate subsidies, etc. But when it comes to investing in public purpose, the same financial myths are paraded out, applying false constraints as if we were still on the gold standard. But we do not depend on taxes for federal spending and it actually is not healthy for the economy when we balance the budget. It's much more important to balance the economy. A mixed economy of both fiscal and monetary policy is what the countries with the highest living standards practice. This is why the EU has failed, because it removed the nations' authority to issue their own currency and depend solely on borrowing from the banks. MMT (modern monetary theory) presents a clear explanation of how our economy can and should operate and it goes against the neoclassical mainstream economic thought, which is taught in most universities. Americans should research MMT, buy Michael Hudson's new book, J is for Junk Economics, which dispels the many myths in perpetuity and begin an economic revolution. Stephanie Kelton's lecture in this video is a great beginning: https://www.youtube.com/watch?v=Q1SMjeuyF-Y
Thank you thank you, Bonnie--another home run
The American people, and people living in any nation operating under a privately-owned central bank, for the most part have no idea about the importance of the "money power", monetary reality and monetary reform issues raised in this interview. William Engdahl strongly suggests nationalizing the privately-owned Federal Reserve and establishing a "national bank" operating as a public non-profit utility in its place, and owned by everyone. Private central banks controlling "the money power" anywhere on Earth are not only unnecessary, leading to the profound (record-level) wealth inequality today, but extremely dangerous because the owners will do what is necessary to maintain their absolute and immeasurable power, including world war. The path to positive worldwide monetary reform is not a straight path - the 1st task is investigating 9/11 for the 1st time, and putting the perpetrators behind bars or worse if decided appropriate by the court. . There is a good possibility the criminals who planned and carried out the 9/11 false flag, perhaps the greatest lie in world history, also either own or represent the owners of the world's private central banks. Start with solving 9/11, and solving the rest of the major problems faced by humanity follows...
I caught only part of the program this morning but it was the best 15 minutes of radio I've heard in a long time. I'd encourage Guns and Butter to continue with presenting similar, highly informative guests discussing this topic (and of course, presenting further interviews / discussions with Mr. Engdahl.