Again -
"Section 8 - Powers of Congress
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"
So first what is Congress supposed to be but the representatives of the people.
That being so does anyone deny that the government is the source of money?
If so doesn't it release it into the economy making it the bank to end all banks? Isn't it the only bank that literally create it's own money?
What again does it do with the money it creates? It releases it (gives) into the economy. Is that sound practice? Well if it serves to make something of value for the people, to create "Life, Liberty and the Pursuit of Happiness" and "to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity", those things, when pursued wisely, reciprocally create the value ("regulate the Value thereof") for the money the government created, then yes.
But is it better banking practice to just give money for good works or to lend it? If you just give and ask nothing in return, for reinvestment let's say, isn't that poor regulation of monetary value? Banks require repayment with interest, generally waived in bankruptcy when the borrower goes broke. The federal government regulates that process too. When banks go broke the government bails them out. It's true that both happen all the time but we profit collectively and individually on other good investments and loan forgiveness is a last but necessary resort.
The "founding fathers" were by in large much more sophisticated than many members of Congress and the general public today. They were aware of the issues of how commerce is regulated along with the underlying absurdity as well and a put a hell of a lot in those few clauses about the monetary and taxation powers of government.
They knew the government is the goose that lays golden eggs, it should not be killed and that no other goose should be allowed.
They knew that a great deal of power had to be vested in the federal government, not least of which was control of the monetary supply and that taxation as means of regulating it as type of interest payment on the money it loans or gives is needed to keep us from simply becoming a nation of dissolute borrowers, either individual or corporate, even though ultimately the government does and should simply create money from nothing as appropriate to match the real wealth the people of America create. This is basically true of all governments.
What we have recently seen and are now living through is the end result of the progressive unbalancing of the financial system where a small number of banks and individual investors have created and accumulated money for themselves not through coinage but by creating credit bubbles and leaving the government to clean up the bankruptcies they create while walking away with the money they took in at the start. The process is repeated over and over again saddling governments with debt and accruing power to the elites.
It is all a house of cards or Monopoly money as I like to think of it. The wealthy have always spent a great deal of money, though usually not more than they have to, to convince the rest that this is all natural; in ancient times part of the divine right of kings, now the workings of the free market There is much that is unnatural about it, it isn't all that free, and it certainly doesn't just sort out when left to itself.
We were given the greatest form of government ever created by the founders of our nation. We should strive to have the intellect to deserve it.
"Section 8 - Powers of Congress
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"
So first what is Congress supposed to be but the representatives of the people.
That being so does anyone deny that the government is the source of money?
If so doesn't it release it into the economy making it the bank to end all banks? Isn't it the only bank that literally create it's own money?
What again does it do with the money it creates? It releases it (gives) into the economy. Is that sound practice? Well if it serves to make something of value for the people, to create "Life, Liberty and the Pursuit of Happiness" and "to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity", those things, when pursued wisely, reciprocally create the value ("regulate the Value thereof") for the money the government created, then yes.
But is it better banking practice to just give money for good works or to lend it? If you just give and ask nothing in return, for reinvestment let's say, isn't that poor regulation of monetary value? Banks require repayment with interest, generally waived in bankruptcy when the borrower goes broke. The federal government regulates that process too. When banks go broke the government bails them out. It's true that both happen all the time but we profit collectively and individually on other good investments and loan forgiveness is a last but necessary resort.
The "founding fathers" were by in large much more sophisticated than many members of Congress and the general public today. They were aware of the issues of how commerce is regulated along with the underlying absurdity as well and a put a hell of a lot in those few clauses about the monetary and taxation powers of government.
They knew the government is the goose that lays golden eggs, it should not be killed and that no other goose should be allowed.
They knew that a great deal of power had to be vested in the federal government, not least of which was control of the monetary supply and that taxation as means of regulating it as type of interest payment on the money it loans or gives is needed to keep us from simply becoming a nation of dissolute borrowers, either individual or corporate, even though ultimately the government does and should simply create money from nothing as appropriate to match the real wealth the people of America create. This is basically true of all governments.
What we have recently seen and are now living through is the end result of the progressive unbalancing of the financial system where a small number of banks and individual investors have created and accumulated money for themselves not through coinage but by creating credit bubbles and leaving the government to clean up the bankruptcies they create while walking away with the money they took in at the start. The process is repeated over and over again saddling governments with debt and accruing power to the elites.
It is all a house of cards or Monopoly money as I like to think of it. The wealthy have always spent a great deal of money, though usually not more than they have to, to convince the rest that this is all natural; in ancient times part of the divine right of kings, now the workings of the free market There is much that is unnatural about it, it isn't all that free, and it certainly doesn't just sort out when left to itself.
We were given the greatest form of government ever created by the founders of our nation. We should strive to have the intellect to deserve it.
