Episode-218- The Federal Reserves Shell Game
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Today’s we take a look at what we can learn from primitative societies that used shells as a form of currency. Today’s show notes are brief due to massive delays in my morning commute cause by flooding, survival podcasting indeed.
Very interesting related post on the LewRockwell.com blog today:
http://www.lewrockwell.com/blog/lewrw/archives/027232.html
Money-debt and the shell game what a interesting cycle.
The question I have to ask regarding this ‘shell game’ when it was instituted way back when, what was the benefits for this introduction? Using the US as the example? How did the idea of introducing this system could be seen as an overall benefit besides it being a benefit for just a minor few? How was it spun to seem like a good idea?
This was an awesome show Jack! This show inspired me to start bartering when i can. You are an inspiration to us all.
How was did such a horrible idea ever become law? It was passed during Christmas vacation when hardly any senators were still in Wash. D.C. Then it was improperly ratified without a majority. It was a stick up from the get go.
Thanks for another great podcast, Jack.
This one made me appreciate the barter system even more.
@Canadian Nomad
Awesome question, tomorrow I am going to do another Q&A show, tune in, I will make this one of the questions I answer.
Excellent show. I get it. It raises three questions for me though…
1) How much are the Member’s Support Brigade dues when paid with silver? Think this through. The value of TSP is tied to the US dollar. Why not instead tie the value of this show to hard currency? Say $.10 face value in pre-1965 silver per week or $5 face value in pre-1965 silver per year (I am just making numbers up here). Then index the US dollar price of the show relative to the spot price for silver. As silver goes up in price (ie: the buying power of the dollar goes down), then the US dollar cost of membership goes up & vice versa.
2) As I was pondering question #1, a second question occurred to me. What is to stop us from creating our own currency? As far as I know, it is completely legal & tax free to barter in our society. I will trade my apple for your orange, and we pay nothing to the government. What if each of us create a ‘bank’ and issue certificates which we back by silver & gold. Any time you want to show up at my bank and exchange your certificate for hard silver/gold, you can do so. As long as you are willing to accept my certificate in exchange for your product, then we should be good to go, right? We are just bartering goods & services for hard currency in the form of gold / silver certificates. If both of us agree to such an exchange, then we should be immune from inflation and free from taxation as we are not using the government’s currency.
(Yes, such a premise is based on an inherent trust – that my bank has not created more certificates than it has gold / silver reserves. I was at my credit union last night. On the counter is a sign indicating my deposits are “backed by the full faith and credit of the United States Government”. Frankly Jack, I trust your bank to honor its gold / silver certificate more than I trust the US Government.)
3) If they whole private bank thing doesn’t work, what it to stop us from simply reverting to pre-1965 silver for all our transactions? It won’t be very convenient (think check, debit card, credit card), but it sure as heck will carry a true value rather than our current fictitious one.
@Marty McFly:
please check out wired.com, they have an article this week on e-gold and how they were shut down by the feds. Looking at the Liberty Dollar people may also be useful.
Scot
Good ep Jack. I do have to say that the way you described this in ep 55 was a bit easier to understand.
I just saw a show on Federal Prison. Cigarettes used to be smoked and used as currency in prisons until smoking was banned. Now, the inmates have been found buying sardines in large quantities…Why? For currency for trade, of course! It’s actually built into human nature to give “value” to something.
Man we don’t even get offered “the Red Pill” in this Matrix.
There’s an entire issue of “WhistleBlower” magazine dedicated to “The Federal Reserve: Fraud of the Century”. That explains this in detail. It’s available at http://www.wnd.com as a back issue. Volume 15, No 7 Dated July 2006.