Triffin's Dilemma -- Why the U.S.Has Gone Broke With Fiat Money.

gboudx said

Like you've said before, "Debt = slavery". Except now we could be talking about countries being in debt. Interesting indeed.

Click to expand...

The reason the idea of "the bankers" as the the real string pullers in the world keeps popping up is that they have their fingers in every country. You can connect the dots of ownership and control and find the same overlapping groups that ultimatelty own the investment banks and central banks of most major countries.

But if you get to the point where they can just cut out all the overlap and duplication of effort across countries and control one central bank for the world, that increases efficiency and profit for the world's bankers.

Keep an eye on this effort.

You can argue all day for some kind of currency that is backed by real assets vs. fiat money. But if you want to do fiat money, then why are we allowing a private entity to manage it and profit from it? The profit motive will trump public interest every time.

There are examples from the past of government issued fiat money that arguably were better adminsitered but ultimately pressure from the bankers shut down the government control of the money supply.

Lincoln and greenbacks....