KILL THE CREDIT MONSTER How Fiat and Fractional Currency Have Created an Over-encumbered Society by James Jaeger
Well done fellow Americans, you took a stand!
A 770 point drop in the Dow on 29 September 2007 just after the Congress announced a $700 billion dollar BAILOUT for the elite Wall Street Bankers. The largest single-day point drop in the history of the stock market. What does this mean? It means maybe the American public is FED UP! Maybe Main Street is fed up with Wall Street and the MONEY CHANGERS' constant siren for MORE CREDIT. Maybe Americans are reaching a point where they recognize that they don't NEED or WANT any more CREDIT and the enslaving DEBT that goes along with it!
A. Maybe they don't CARE if there is no more CREDIT for a new car.
B. Maybe they don't CARE if there is no more CREDIT for a college tuition.
C. Maybe they don't CARE if there is no more CREDIT for a new house.
D. Maybe they don't CARE if their employer can't borrow money to make payroll.
A - D has endlessly been threatened by the corporate media's talking heads in an attempt to get the American taxpayer to once again bail out Wall Street and the FIAT MONEY banking system it uses to rape and pillage endlessly.
Americans are sick of DEBT. Americans don't WANT any more CREDIT which leads to DEBT.
Americans don't HAVE to go out and buy another greasy, overly-complex internal-combustion-engine-car that burns yet more environment-killing oil and fossil fuels and turns our cities scummy gray.
Americans don't NEED more credit card-financed DVD players, wide-screen TVs or digital crap that's made in China with child slave labor.
Americans don't NEED a college education when all they need to do get out books and start reading MORE and watching mainstream media TV LESS.
And if they DO need any of these things, if these things are that darn important, let them SAVE for them.
Endless CREDIT made possible by endless printing of FIAT money just drives the cost of all these things up anyway. Prices fall to reasonably levels when they aren't driven up with artificial money (CREDIT) being spewed all over by the Federal Reserve bankers and their buddies on Wall Street.
CREDIT = RISING PRICES
$80,000 for a year of college?! That's preposterous!
$35,000 for a car?! That's preposterous!
$250,000 for a house?! That's preposterous!
42 cents to send a one-ounce letter somewhere?! That's preposterous!
ALL these preposterous prices are a result of endless CREDIT, endlessly destroying the PURCHASING POWER of the dollar through fiat currency and fractional reserve lending.
And the banks (and their Wall Street buddies) create all this CREDIT out of thin air and then saddle Americans with DEBT for life.
Americans may be on the verge of realizing the only good credit card is one that's been CUT in half.
All Wall Street wants to do is keep Main Street addicted to CREDIT.
MORE CREDIT = MORE DEBT.
You need more credit, they endlessly scream! Don't you want to borrow MORE money from our bogus fiat money system, they scream? Here's another credit card in the mail. Your phone rings with more credit card offers. More, more, more.
The sooner Americans realize they can SURVIVE without MORE -- more CREDIT -- the better off they will be.
The debt-peddling scum on Wall Street, and in the Federal Reserve Banking System, have American so strung out on credit and debt they don't know what to do.
So what if the market crashes! So what if it drops another 770 points or more. It comes down to this: either Americans take a stand against the debt/credit monster NOW and let the overly-consolidated banks and other corporations fail, OR the system will grow ever larger and the CRASH will be ever WORSE.
It is time to confront the CREDIT MONSTER that's eating up the nation and funding endless ill-advised wars and endless social handouts.
The only reason the banks and Wall Street REALLY want you, the taxpayer, to bail them out is because they MUST generate more CREDIT in order to continue their Ponzi scheme. Remember, every dollar they loan into circulation (as CREDIT) has debt service attached to it. In order to service that DEBT, yet MORE money must endlessly be created for the economy. But with the additional money comes additional debt service. It's a big scam, a ponzi scheme. Watch a movie on the Net called MONEY AS DEBT to get the details.
THE WORLD WILL GO ON WITHOUT CREDIT.
Let Wall Street EXPLODE on its greed and stupidity! The remnants of Wall Street and the banking industry will provide new opportunities for new people and new businesses to thrive. Just like a star going supernova provides the basic elements that make life all over the universe possible, the death of Wall Street as we now know it will present new opportunities for a better financial system.
Just like the death of the dinosaurs made way for smaller mammals and eventually you and me, let Wall Street and it's fiat money enabler, the Federal Reserve System, go the way of the dinosaur it is.
And after the banksters and ponzi scum are gone, NEVER allow them or anyone to install another FIAT MONEY system again. This means JUST SAY NO TO A GLOBAL FIAT MONEY SYSTEM. This means NO Amero. This means NO Bancor or expanded Euro.
The last time the MONEY CHANGERS foisted THEIR banking system on the American public was 1913 after a secret meeting on Jekyll Island. Don't let them do it again.
Article I, Section 8 & 10 of the U.S. Constitution warns Americans that MONEY must be GOLD and SILVER and the ONLY paper currency that's permitted is paper that is redeemable in GOLD and SILVER. That means BACKED by gold or silver. A backed currency is supposed to be a check and balance on the elite bankers that would print up too much currency to lend to too many sub-prime borrowers.
IF AMERICANS BAIL OUT THE SCUM ON WALL STREET NOW FOR $700 BILLION, THEY WILL HAVE TO BAIL THEM OUT FOR $1.5 TRILLION OR MORE LATER ON.
Do the math. It is mathematically IMPOSSIBLE for a FIAT money system to last more than a certain amount of time. Every FIAT money system that has EVER been established in the history of the World has ended badly. Watch MONEY AS DEBT and FIAT EMPIRE, both docs on the Net for free.
Don't play the CREDIT game!
Don't need DEBT!
Don't bail out Wall Street Banksters!
Remember, only about 5% of the American people are significantly involved in the stock market. After the last TECH-STOCK BUBBLE burst, many got the message and left the stock market. The message is this: ONLY insiders, brokers and investment bankers consistently win at the stock market. Read EMPIRE OF DEBT by Bill Bonner for substantiation of this statement as well as to get a full picture of the DEBT BUBBLE Wall Street and the Federal Reserve System have created. Again, watch a documentary film entitled, FIAT EMPIRE (www.FiatEmpire.com) to get further details from Ron Paul and other experts that are ACTUALLY looking out for the folks.
Let the CREDIT MONSTER die.
You don't NEED that new car or 5th TV set right now. College tuition is WAY too high anyway and the curriculum taught at most colleges is designed to produce yet more clone employees for the current debt-ridden system. You don't need college at this time.
And the threat that your employer MUST have credit so s/he can make payroll?! Well if your employer is this much on the edge, maybe you should look for new job. Any employer that can't set aside enough cash to meet a fixed-and recurring-expense like PAYROLL, isn't very good at financial planning. And if your employer needs DEBT to meet payroll, maybe he's hired too many people and it's only a matter of time before THIS company goes belly up. Get out before you get burned and most of all, don't let apologists of the Wall Street DEBT system scare you with PAYROLL threats.
Capital Formation and Store Credit:
If you are hopelessly addicted to buying things NOW and paying for them LATER, encourage a system of STORE CREDIT or VENDOR CREDIT. Stores and vendors (the people and companies you buy things from), can and will offer to DEFER payment for their goods and services, thus, offering you a form of credit without a BANK MIDDLEMAN. If the economy were based less on BANK CREDIT, and more on NO CREDIT or STORE CREDIT, the money you and I spend on INTEREST and DEBT SERVICE could be retained by Society in the form of SAVINGS and CAPITAL FORMATION. The endless trillions we all hand over to BANKS for interest-bearing CREDIT could be retained by us and the companies that provide us with products.
As long as an electronics store, auto dealer or home builder is receiving monthly payments for their products, they can use this cash-flow to pay for the production of their future products and thus stay in business. Their customers will actually be BETTER "credit risks" because they won't be ENCUMBERED with interest-bearing BANK DEBT. You remove the BANK middleman and his INTEREST payments from the equation and EVERYONE in society has MORE wealth. THIS is the way things were prior to the formation of the nation's third central bank in 1913. Business was doing great, so well in fact no one needed to borrow money to expand. Savings, known as CAPITAL FORMATION, made it possible for American industry to self-finance. The only ones suffering were the predatory banks on Wall Street. Thus, they created artificial PANICS and bank runs in order to scare People into demanding the government do something, BAILOUT them out. Sound familiar? Thus, the Federal Reserve System was secretly planed by the New York bankers and ushered through Congress - in a similar way as the Patriot Act and the current $700 Billion "Rescue" Act. When will people learn that the government and its enabling MONEY CHANGERS use the same tactics century after century, millennium after millennium, yet little changes when their tactics are employed? Let the CREDIT MONSTER die.
The Federal Reserve BANK then did what all central banks do: got busy setting the groundwork for FIAT CURRENCY and FRACTIONAL RESERVE LENDING. Gradually it weaned the nation off gold- and silver-backed currency so that it could print up all the FIAT currency it wanted and lend this paper out to industry at ARTIFICIALLY low interest rates. Artificially low interest rates are made possible because FIAT currency -- not backed or based on anything of value -- can be created in any amount, out of thin air. Thus the banks have the LATITUDE to lend at interests rates BELOW THE MARKET VALUE OF MONEY THAT REPRESENTS REAL VALUE, value as a result of human effort and production. Value as a result of being backed by gold or silver. Value as a result of being made of sweat labor and equity. Thus, by flooding the capital markets with FIAT currency, the New York banks were able to remove all the incentives for capital formation and savings. As industry stopped saving and forming its own working capital, it began borrowing fiat money from the Fed banks. It stopped self-financing (in a similar way Americans have stopped self-governing). It did this because the interest rates were artificially low. But in exchange for "cheaper" money, industry had become a DEBT SERVICE SLAVE. Now all industry and almost all Americans are also DEBT SERVICE SLAVES.
When you print up money that's not backed by gold or silver, you can print up as much as you want. This "FIAT" currency, created out of thin air, when lent at ANY interest rate, creates almost an unlimited PROFIT margin for the Federal Reserve member banks. You have thus effectively distorted the entire ECONOMY and "free market" because, while every other industry must work hard to create real products with real effort, fiat money-issuing banks, and their Wall Street enablers, live the good life by charging interest on financial "products" created out of thin air. With such an undue advantage over all other industries, is it any wonder their is a bank or two on almost every major intersection in America? Is the excess we see on Wall Street, and amongst the corporate plutocracy, really any mystery?
Don't use BANK credit generated by fiat money and fractional reserve banking. Use, and promote, STORE CREDIT if you are a hopeless credit addict.
The Bottom Line:
MAIN STREET DOES NOT NEED CREDIT TO SURVIVE AND PROSPER.
WALL STREET DOES NEED CREDIT TO MAINTAIN ITS PONZI SCHEME AND SURVIVE OFF YOUR BLOOD.
Don't give any more blood.
Let Wall Street crash and burn.
Why should every taxpayer have to be personally responsible for shelling out over $5,000 to bail out the scum on Wall Street that have done nothing but live high and mighty on FIAT money the past decades?
Remember, the multinational corporations that out-sourced YOUR job (or the job of your family or friends) buy and sell their stock on Wall Street. These multinationals have hired cheap Chinese slave-labor to replace YOU and YOUR job so THEY, and their Wall Street stockholders could get rich. The obscene profits they have made have gone to such things as Gulfstream G550s and CEO salaries 350 times higher than the average wage they pay to their employees. Then when these Benedict Arnold-CEOs leave their companies, even after setting the entire place on financial fire, they usually receive "GOLDEN PARACHUTES" worth millions or tens of millions in severance pay. Meanwhile their employees, such as was the case with ENRON, not only get laid off, but lose their retirement funds and often the homes (because they can't keep up their Fed-member bank mortgage payments).
DON'T BAIL THIS SCUM OUT! Let their parachutes fail. Let them get a real job back on Earth. Let them put the $350,000 they paid for their RAPE & PILLAGE college "education" to some other use.
America will be better without credit and endless debt.
Let the national health crises be remedied by liquidating Wall Street. Americans' health is more important than 100,000 Wall Street bankers' acquisition of a 3rd, 4th or 10th car and/or a second, third or fifth house. Liquidate Wall Street to pay for Main Street. These elites on Wall Street do NOT own the wealth of America. YOU do. It's YOUR wealth. YOU worked for it. YOU pay for your living with real MONEY, not FIAT money created by accounting tricks. Why should you pay debt service on money created out of thin air and lent to you as CREDIT?
Don't let your congressman off the hook. If s/he votes to bail out Wall Street, make it clear his or her voting days are numbered.
Never bail out Wall Street; they have never offered to bail YOU out! They just take your houses, cars and life as collateral to unjustly enrich their lives -- while they allow you to sink into oblivion.
To hell with more Wall Street, Federal Reserve-infested bankers. To hell with the additional CREDIT they are begging you to take on and thus be saddled with additional DEBT. Take a stand now. Kill the CREDIT monster or it will kill YOU and YOUR America.
Since this was originated, a $700 billion bailout passed Congress. It is now incumbent on every citizen to note which of their Congressmen and Congresswomen voted for this insane bailout and make absolutely certain they do NOT vote for that Congressperson in the next election. Note that BOTH Obama and McCain voted FOR the bailout, demonstrating how loyal they are to the Establishment and their buddies on Wall Street that have provided the financing for their campaigns. These two political abortions now have the gall to claim they represent CHANGE for regular Americans. Dream on! The ONLY candidate that would have actually CHANGED anything was RON PAUL, and the corporate media disposed of him as fast as it could.
This corrupt and unconstitutional government -- more friendly to its buddies on Wall Street and the Media than its constituents on Main Street -- MUST be overthrown. Vote them out! Go independent. Vote Libertarian. Don't vote for ANY incumbents. The Democrats and Republicans (DemGOPs) are there to PREVENT CHANGE. See an article entitled, "OVERTHROWING THE CORPORATE GOVERNMENT - How The People Can Regain Control Over Corporate Interests That Have Hijacked Congress" at http://www.jaegerresearchinstitute.org/articles/overthrow.htm for details on the advantages and strategy rationale.
Originated: 29 September 2008
Revised: 19 October 2008
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Don't forget to watch FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution so you will have a better understanding of what we believe fuels most of the problems under study by the Jaeger Research Institute. Also, if you support a constitutional republic engaged in free-market capitalism, you might be interested in watching the progress of our current film production, ORIGINAL INTENT, at http://www.OriginalIntentUSA.org or http://www.FiatEmpire.com/producers
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