Yesterday I posted a link at my Facebook page to an interview with David Wolfe about our current economic situation. I really recommend listening to it. I think it’s the Best Ever, of course 🙂
The interview stirred up some emotions, some of them negative about Mr. Wolfe. Here’s my response. It was a private message, but this is an issue we need to be talking about right now, so I’m making it public.
My issue is that there is no value behind our money other than our BELIEF that it has value. The gold standard is out of order. If there was value behind our money, then “interest” would make sense because if someone has loaned this thing of value, they obviously cannot partake of its value until the thing is returned.
What’s happening now is that the Federal Reserve (a private bank) creates money which has no backing, be it gold or any other good, and they do this at will. Then they charge interest, but what interest is there really? It’s just paper. This system can create nothing but debt. Especially when you consider that the more money you print, the higher inflation goes.
Every dollar printed is immediately attached to debt. Our government borrows money from the Federal Reserve, which they create out of thin air and then charge interest for it. And then after they print the money and inflation goes up, that money is not worth what it apparently was, AND there’s interest, too. Our tax money is not paying for roads, it’s paying for interest owed to Federal Reserve.
Our money seems to have value within our current system. Perhaps a worker who has helped with basement renovations would take some other kind of compensation besides money, but he probably had to report to a boss and bring back some cash or else he would be fired and “Oh GOD, where would he be then?” The business owner needs the currency, mostly for taxes (which I won’t even go into), but a little will go to paying the employee so that he can go buy goods from other folks stuck in this system, as well as pay more taxes. All of this comes as a result of our being told that our labor or the goods we harvest have no value other than how many printed pieces of paper you HAVE to put forth for it. Creating this system gives certain people control, and it’s not us.
The stealing most obviously occurs at the highest level – the Cartel between the Federal Reserve and our Government. To us, we think “yeah, of course I need money to buy things!” We’re the pawns in this scheme and people generally don’t question it. Many people think we’re still on the gold standard and that the Federal Reserve is a government agency.
Sure, banks could go back to just banking, but I think the real issue is that our currency needs to be based on something other than private interest.