By Philipp Bagus, Andreas Marquart
Money doesn't come from the country! truly, not anyone believes that assertion. yet they need to. that's simply because the US, like several different kingdom on the earth, has a natural paper cash method, within which new funds is created out of skinny air. Andreas Marquart and Philipp Bagus exhibit you the way cash arises and why our present cash is undesirable funds. you are going to find out how vital strong funds is for an economic system and what effect undesirable funds has on each person in society.
What position does the nation, govt, and politics play in redistribution in desire of the super-rich? Why is a naive religion within the nation whatever except an exceptional process for the longer term for every person citizen?
Anyone who hasn't ever rather relied on politicians - no matter if it began as just a intestine feeling - will locate affirmation during this publication that this intestine feeling was once correct all alongside. a simple to appreciate creation to the query of why cash is liable for such a lot of difficulties in our society.
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Additional info for Blind Robbery!: How the Fed, Banks and Government Steal Our Money
They don’t even need paper and ink, as Anne from our imaginary city did. The central banks inject this electronic money into the banking system to support the creation of credit and to “improve liquidity,” as it is expressed in official press releases. Central banks are akin to modern day gold prospectors producing at virtually zero costs. ” However, the main effects for central bank money creation are two. First, central banks save and support the banking system, which indirectly finances the political class and their favorite policy schemes.
The logical consequence of Anne’s business methods is that they serve to increase the local money supply. Not only do we have in circulation the warehouse notes that were originally issued when gold was deposited, we now also have the warehouse notes that were created in the process of issuing loans and for which there is no corresponding gold in the vault. We will go into the consequences that come from this later. One thing is clear: the loans made by Anne represent a misuse of the assets deposited with her by her customers.
Old coins at least have the value of the metal in them! What is the reason people throughout history have repeatedly chosen precious metals as money? ) Going back in time, when we look at commodity money we find that in the beginning goods used for this purpose were simply regular trade goods (commodities). And because these goods were frequently traded, just as in our story, they suddenly became money or commodity money, entirely without the involvement of any government or state authority. But what characterizes this money (which we will call good money)?