Hi everyone!
I have not taken part in these discussions before, but Bucky put me into the email loop anyway originally, and I have been receiving the emails. By the way, Bucky, I am getting two copies of everything.
My opinion is that paper money needs to be based on something of value, like gold or silver. It used to be, and our country was better off with that. Paper is worthless. President Kennedy tried to lessen the control of the FED by starting the “silver certificate” which was issued by the U.S. Treasury. One dollar was redeemable at any bank for a silver dollar. Knowing the power of the privately controlled FED, I would not be surprised if that had something to do with his assassination.
Dennis Kucinich was on CSPAN yesterday on the call in show. He was asked about the FED, and his comment was that the FED should be placed under the control of the U.S. Treasury! Not privately held. That would be Constitutional.
The Secretary of the Treasury would determine monetary policy (with direction from the White House) rather than some FED Chairman.
I believe capitalism without regulation is unworkable. Capitalism by its very nature gravitates to what we have today. Unregulated companies grow and merge until our current situation happens. And with their power, they also control government and everything else. Small business is eliminated. I have written much at ETP along these lines in the past. I see Dennis Garwitz made similar comments in this exchange.
Donald Grbac
-- Stop government corruption with democracy! Vote for the National Initiative. (www.ni4d.us)