Escaping from the Inescapable Casino of “Free” Market Capitalism

[O' Be Joyful]

I am surprised that hardly anybody responded to my post. I think interest free money would be excellent; Colonial Script and the Greenback are excellent examples.

Do not be too disappointed, most of us are not Greenspan worthy but merely one-handed economists.

https://www.goodreads.com/quotes/7887683-give-me-a-one-handed-economist-all-my-economists-say-on

 

[5fish]

I am surprised that hardly anybody responded to my post. I think interest free money would be excellent; Colonial Script and the Greenback are excellent examples.

I did and gave you a link to our civil war and how the South and North borrowed money and paid interest on them. The South print too much money and inflation ate them up... No interest free anything and union greenback is just paper money... Our money in our pockets is interest free...

 

[5fish]

I am surprised that hardly anybody responded to my post. I think interest free money would be excellent; Colonial Script and the Greenback are excellent examples.

The beauty of greenbacks was they were not backed by gold but by the faith of the US government... Its just cash like today's money...

Greenbacks were paper currency (printed in green on the back) issued by the United States during the American Civil War. They were in two forms: Demand Notes, issued in 1861–1862, and United States Notes issued in 1862–1865. They were legal tender by law, but were not backed by gold or silver, only the credibility of the U.S. government.[1]

 

[5fish]

Do not be too disappointed, most of us are not Greenspan worthy but merely one-handed economists.

https://www.goodreads.com/quotes/7887683-give-me-a-one-handed-economist-all-my-economists-say-on

Hey, I have one hand

Give me a one-handed Economist. All my economists say 'on hand...', then 'but on the other...

Harry Truman

But on the other hand ... I am not an economist..

 

[Wehrkraftzersetzer]

I am surprised that hardly anybody responded to my post. I think interest free money would be excellent; Colonial Script and the Greenback are excellent examples.

why did they change the system? well may have been not as excellent

 

[O' Be Joyful]

The South print too much money and inflation ate them up...

Not to mention counterfeiters.

The Counterfeiter Who Sank the Confederacy

It wasn't a superior army that vanquished the South; it was a patriotic counterfeiter and his $15 million in fake bills.

www.mentalfloss.com

 

[5fish]

Oh... I read about early colonial money and it sounds like early Modern Monetary Theory in action but @nicholls , colonial script again Its paper money not back by gold. This no interest thing has no to play in it... They print money and then tax it away... MMT...

Early American currency - Wikipedia

en.m.wikipedia.org

 

[rittmeister]

I am surprised that hardly anybody responded to my post. I think interest free money would be excellent; Colonial Script and the Greenback are excellent examples.

tanstaafl, damnit

 

[5fish]

I am surprised that hardly anybody responded to my post. I think interest free money would be excellent; Colonial Script and the Greenback are excellent examples.

Its post #164...

 

[Wehrkraftzersetzer]

Angry Hedge Fund Billionaire Is Mad at GameStop Redditors for “Attacking Wealthy People”

“The reason the market is doing what it’s doing is people are sitting at home getting their checks from the government, okay, and this fair share is a bullshit concept.”

www.vanityfair.com

 

[5fish]

Here a summary of a book called: Goliath: The 100 Year War Between Monopoly Power and Democracy.

Matt Stoller on the 100 Year War Between Monopoly Power and Democracy - Corporate Crime Reporter

Matt Stoller did not grow up in a political family. He studied history at Harvard University. He was for the Iraq war. “I trusted the New York Times, Harvard, a whole bunch of elite institutions, John Kerry and Thomas Friedman,” Stoller told Corporate Crime Reporter in an interview last week...

www.corporatecrimereporter.com

It just another person seeing what I have been showing all of you about the path America is on....

We aspirer for a Jeffersonian American but we live in a Hamiltonian America...

snip...

If you were to boil down your book, it would come down to this question of concentrated monopolies versus decentralized markets, Hamilton versus Jefferson.

snip...

“This isn’t the only axis of American politics, but it’s an important axis. America was founded out of a feudal era when we were breaking from aristocracy. There are a lot of elements of aristocracy. One of them was slavery. Another one was a kind of western imperial frame. Another was a separation of classes of people into those who are fit to rule and those who are not. Hamilton was generally more of an aristocrat. But there was a more democratic culture in America, in the colonies than there was in England. He wasn’t as overt about it. But he was far more of an aristocrat than he was a democrat. He did not like democracy. He wanted a President for life. He later on tried to organize an Army that he would control as a quasi military dictator.”

Wall Street, which was his great legacy, was designed to exclude the people from any control over the political economy or resource allocation. There were a whole series of bitter fights, including the Whiskey Rebellion, over the economic outcomes of the revolutionary war. Hamilton became this great symbol of autocracy. The Federalists did not want democracy. That’s why when they lost in 1800, they didn’t come back. The party was wiped out. They lost the debate so thoroughly.”

snip...

Jefferson by contrast did believe in more egalitarian ideas. One of the focal points between these two was their approach to banks and monopolies. It was a key difference. Hamilton wanted to amass men and capital in institutions that the better sort would govern. The Bank of the United States was a private bank. It was government chartered, but it was owned by private actors who would profit from it and allocate resources.”

“Jefferson saw this as dangerous. Similarly, Hamilton wanted a series of industrial monopolies. And Jefferson saw these as dangerous. Jefferson’s view was that we should have a broad distribution of property. This was the yeoman farmer approach.”

Snip...

And then you move forward today, and you see economists saying – we know the math. That’s another variant of aristocracy – hiding their political assumptions in the math. Call it technocracy, call it aristocracy, these are all ways of preventing ordinary people from having influence over how resources are distributed and how property is organized in America. That tension you saw all the way through the crisis and you see it today.

Snip... You can read the book for the rest of the story but the book goes over the players who gave us the Oligarchy of today...

 

[Mike12]

Well, I liked the article and 10 pages... It did end with a sudden push a "egalitarian society". This supposed casino of capitalism and we need 'egalitarian society'. I fell into a trap! Yes, go look at the Gross Domestic Product of countries around the world, per capita. Oh look at that money they earn in russia, a year, 11,000. I read Bob Hope's "I Owe Russia 1,200 dollars" similar shock laughs. Don't talk about debt in Britain. In the middle of "Rose's coming out" on Downton Abbey is a very Bob Hope American... Maybe the Russian is reading a Gross Communist Product... Look at the American he is only getting 11,000 likes a year...? A Gross HouseWife Product , they note other shortfalls... They tend to call us the "Free World" back there.... Not that a particular one of the systems of allocations of limited resources explains the billions of deaths and what-not.

Yes Germany was in an economic catastrophe where they burn fake-government-money for fireplace warmth, and it would be ignorance to say they "recovered"? What they "recovered"? The Nazis centered on the extremely poor and Hitler was a beerhall speech maker. The Fascist social Nationalist took over... The contemporary "Cabaret" had way too much fun on the German transformation...

 

[rittmeister]

The Nazis centered on the extremely poor and Hitler was a beerhall speech maker. The Fascist social Nationalist took over... The contemporary "Cabaret" had way too much fun on the German transformation...

1. nonsense, the nazis where bankrolled by the filthy rich. a certain henry ford managed to have his picture hung up in the neue reichskanzlei (or whereever adolf set up shop). the filthy rich are not interested in the extremely poor - you really want to reed up on that.
2. everybody in bavaria did that, beerhalls where the places to make big political speeches. i don't know what you think a bierhalle or bierpalast (that's literally beer palace) is but the putsch of 1923 (nobody calls it bierhallenputsch, btw but marsch auf die feldherrenhalle or hitler-ludendorff putsch) started right here.
3. if you want a video quote from cabaret to understand the predominant mindset in those times take this

 

[Mike12]

1. nonsense, the nazis where bankrolled by the filthy rich. a certain henry ford managed to have his picture hung up in the neue reichskanzlei (or whereever adolf set up shop). the filthy rich are not interested in the extremely poor - you really want to reed up on that.
2. everybody in bqavaria did that, beerhalls where the places to make big political speeches. i don't know what you think a bierhalle or bierpalast (that's literally beer palace) is but the putsch of 1923 (nobody calls it bierhallenputsch, btw but marsch auf die feldherrenhalle or hitler-ludendorff putsch) started right here.
3. if you want a video quote from cabaret to understand the pre dominant mindset in those times take this

I'm not sure on the rules of the forum on trading "accurate" Nazi propaganda, nevertheless... Well my Economics professors gave me 2 semesters to here that the kind of "equality" of $15 wages and studied egalitarian economics was the only thing money was for anyway. What is it, a ration coupon? Without a labor-to-dollar ratio, its a government coupon for rations.

 

[rittmeister]

I'm not sure on the rules of the forum on trading "accurate" Nazi propaganda, nevertheless... Well my Economics professors gave me 2 semesters to here that the kind of "equality" of $15 wages and studied egalitarian economics was the only thing money was for anyway. What is it, a ration coupon? Without a labor-to-dollar ratio, its a government coupon for rations.

it's not accurate nazi probaganda it's art - and trust me i do know those rules

 

[5fish]

This supposed casino of capitalism and we need 'egalitarian society'. I fell into a trap!

We are in the trap since 1980 and a new economic vision took hold "greed is good" and the inequality is the out come in todays America... Read the article shows every market forces wealth of many to the few... You need to to read through the thread and learn why you fell poorer than the father generation...

 

[5fish]

And divide us over race.... the wealthy...

 

[5fish]

Here is another scam of the wealthy: philanthropy...

Billionaire philanthropy is a ‘PR scam,’ says CEO who raised his workers’ minimum pay to $70,000

'In reality, the amount [billionaires] donate is a fraction of what they would pay if their tax rates were in line with the working class,' Gravity Payments...

www.marketwatch.com

 

[5fish]

@Jim Klag , @rittmeister , @O' Be Joyful , @jgoodguy , @Wehrkraftzersetzer , @Mike12

Here an article more of an interview with this lady about the FED reserve board adding greatly to the inequality in our nation. Yes, the Fed. Low interest rates raise asset values like stocks, everytime the Stock market starts to tank the Fed steps in so there no true risk in our stock market.... the top 1precent own half of all the stocks... Rising assets...

Did the Federal Reserve make economic inequality worse? - Marketplace

Karen Petrou, author of "Engine of Inequality," laments that investors win and savers lose. She says the Fed can reverse inequality with targeted policies.

www.google.com

 

[O' Be Joyful]

@Jim Klag , @rittmeister , @O' Be Joyful , @jgoodguy , @Wehrkraftzersetzer , @Mike12

Here an article more of an interview with this lady about the FED reserve board adding greatly to the inequality in our nation. Yes, the Fed. Low interest rates raise asset values like stocks, everytime the Stock market starts to tank the Fed steps in so there no true risk in our stock market.... the top 1precent own half of all the stocks... Rising assets...

Did the Federal Reserve make economic inequality worse? - Marketplace

Karen Petrou, author of "Engine of Inequality," laments that investors win and savers lose. She says the Fed can reverse inequality with targeted policies.

www.google.com

Up Down, Upside down, Twisted around...

It does matter...top-rail is almost always on top.