"These oligarchic 1% parasites designed our credit and monetary systems for their own enrichment, and will never willingly engage in the factual communication that exposes how they transfer the 99%'s wealth to themselves." --Carl Herman
Richard Werner: Debt Free & Interest Free Money
Richard Werner on quantitative easing and central banks
Source: Washington Blog
Carl Herman explains working with criminal 1% at two UN Summits, monetary reform
April 18, 2012
by Carl Herman
The first 47 minutes of this video from Claremont Colleges' Center for Process Studies' conference, "Money-Creation in a Finite World," is Carl Herman's presentation to explain how credit and monetary reform, and their trillions of dollars in annual benefits for Americans, are only possible when the 1%'s criminals who manage this system are removed from power.
This conclusion is from personal experience of both parties' political leadership and corporate media involved in two UN summits: the 1990 World Summit for Children (largest meeting of heads of state in world history), and the 1997 Microcredit Summit (topic of 2006 Nobel Peace Prize). Note: the bottom-right of the video has screen options to switch screen-in-screen and full-screen options; the remainder of the video is panel and audience discussion.
The video and paper I wrote for the conference frame my contribution regarding credit and monetary reform for a sustainable economy: a 1% "leadership" commits massive "emperor has no clothes" obvious crimes centering in money and war. These oligarchic 1% parasites designed our credit and monetary systems for their own enrichment, and will never willingly engage in the factual communication that exposes how they transfer the 99%'s wealth to themselves.
With just a little attention and education by the 99%, we also recognize criminal complicity from a cartel of corporate media to lie and distract from the crimes' central facts. The 1%'s strategy seems to follow Gandhi's observation that first they ignore you, then they laugh at you; they must avoid the fight that factually crushes them.
Regarding credit and monetary reform for a sustainable economy:
The 99% must achieve factual command of the basic facts how money and credit are created, or else continue their debt-damned existence under an oligarchic and Robber Baron-era structure.
Monetary and credit reform can be understood with three simple areas of facts that are taught in basic economics and easily verified:
1. The US does not have a money supply; we have its Orwellian opposite as a debt supply. This is because the US leading banks won legal right through passage of the 1913 Federal Reserve Act to have private banks and the Fed create debt for what we use as money, and then charge the 99% for its use.Obviously, monetary and credit reform benefits 100% of humanity because it guarantees full employment, optimal infrastructure, and no government debt/interest cost. The current parasitic system benefits a 1% banking oligarchy that causes cyclical unemployment and poverty, decays infrastructure (especially as debt and interest costs accelerate as they do today), and enslaves the 99% to permanent and escalating debt.
2. The policy choice of a debt supply compounded with interest causes ever-increasing aggregate debt that can never be repaid. It can't be repaid because this is what we use for money. The US national debt now pushing $16 trillion has a gross annual interest payment over $400 billion a year; ~$4,000 per US family of $50,000 annual income (if your household earns $100,000, then your gross annual interest payment is ~$8,000 every year).
3. Monetary reform creates debt-free money that extinguishes the debt, and allows government to become employer of last resort for infrastructure investment (hard and soft). This creates full-employment, optimal infrastructure, and falling prices because infrastructure historically creates more value to the economy than cost. Credit reform allows for public loans (interest directly pays for public goods/services) as another monetary tool for stable money supply.
Americans cannot be responsible citizens without understanding this fundamental structure of money.
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