Wednesday, June 20, 2018

Patrick Armstrong — Yes, Putin Once Dreamed the American Dream

Must-read. as govern

Take-Away: Some Russian leaders, including Vladimir Putin, want Russia to be a democracy and they do not think that America is one. They want a real democracy as governance of, by and for the people.
Patrick Armstrong

1 comment:

Andrew Anderson said...

Of, by and for the banks is the current reality and is rooted in the Gold Standard when fiat was backed by gold. The problem is that if enough fiat were created for all the citizens to use themselves and with additions to keep up with population growth, the price of gold would eventually become so high that ONLY the monetary sovereign could buy it - and with windfall profits to the sellers.

The obvious solution was to abandon the Gold Standard and issue only inexpensive fiat - especially since fiat is already backed by the taxation authority and power of the State, a weighty backing indeed - in sufficient quantities that all citizens could use it directly, including in the form of checking accounts at the Central Bank.

Instead, what was sacrificed was equal protection under the law when it comes to fiat use so that, except for physical fiat, aka "cash", only the banks may do so. And since banks need much less fiat (to settle account DIFFERENCES among themselves) than if every citizen could use fiat and avoid banks then much less gold was needed for increases in the money supply.

Now that the Gold Standard has been abandoned and fiat is inexpensive to create, how is it that the citizens STILL may not use their Nation's fiat except in the form of unsafe, totally inadequate for modern commerce physical fiat, aka "cash"?