What would happen if....:
The Government took a snapshot of all bank accounts in the USA...(the recent 2 1/2 hour '$0 balance' fiasco shows it's possible).
Then walked troops into the Fed, and smashed their printing press. And burnt the stacks of bills they found.
Then announced the creation of a new currency, backed by a commodity such as Gold....(future devaluation would have to be explicit).
Then told all the banks too big to fail to eat it.
Then declared the US dollar void, with an offer to honour up to 500 thousand in bank accounts dollar for 'newbuck', and cash swapped at par for three months...no questions asked.
Then compensated foreign governments for direct out of pocket expenses related to the switch (ie, transfer debt into new currency at agreed upon rate, but ONLY on a government to government basis...banks and other 'persons' can again, eat it.)
Then encouraged their biggest trading partners to do the same....rather than collapse economically.
In short, what if WE ripped off the Banksters this time around? And what if we did it (I say 'we' because Canada would have no choice but to follow suit) and then thrived because of it (like Iceland is doing right now)?
Sure, a lot of folks would take a massive haircut on retirement savings. But notice I made no reference to banks being compensated for outstanding debt, or being able to transfer those debts from dollars to 'newbucks'. This is because I want those debts to all vanish...poof...into thin air.
Maybe a Law ensuring the Bank doesn't have legal title to mortgaged homes would be needed...
I'm not an economist and stuff, but I'm genuinely curious why we don't just do this, rather than allow the ultra-elite to own us and generations of our children? Can the consequences be all that bad, especially if enough countries agree to do it, that trade between them satisfies all their needs? After all, trade is nothing more than a means to supply to your citizens what cannot be produced locally.
Anyway, just another one of those thought experiment thingies....have a good weekend.
The Government took a snapshot of all bank accounts in the USA...(the recent 2 1/2 hour '$0 balance' fiasco shows it's possible).
Then walked troops into the Fed, and smashed their printing press. And burnt the stacks of bills they found.
Then announced the creation of a new currency, backed by a commodity such as Gold....(future devaluation would have to be explicit).
Then told all the banks too big to fail to eat it.
Then declared the US dollar void, with an offer to honour up to 500 thousand in bank accounts dollar for 'newbuck', and cash swapped at par for three months...no questions asked.
Then compensated foreign governments for direct out of pocket expenses related to the switch (ie, transfer debt into new currency at agreed upon rate, but ONLY on a government to government basis...banks and other 'persons' can again, eat it.)
Then encouraged their biggest trading partners to do the same....rather than collapse economically.
In short, what if WE ripped off the Banksters this time around? And what if we did it (I say 'we' because Canada would have no choice but to follow suit) and then thrived because of it (like Iceland is doing right now)?
Sure, a lot of folks would take a massive haircut on retirement savings. But notice I made no reference to banks being compensated for outstanding debt, or being able to transfer those debts from dollars to 'newbucks'. This is because I want those debts to all vanish...poof...into thin air.
Maybe a Law ensuring the Bank doesn't have legal title to mortgaged homes would be needed...
I'm not an economist and stuff, but I'm genuinely curious why we don't just do this, rather than allow the ultra-elite to own us and generations of our children? Can the consequences be all that bad, especially if enough countries agree to do it, that trade between them satisfies all their needs? After all, trade is nothing more than a means to supply to your citizens what cannot be produced locally.
Anyway, just another one of those thought experiment thingies....have a good weekend.
>In short, what if WE ripped off the Banksters this time around? And what if we did it (I say 'we' because Canada would have no choice but to follow suit) and then thrived because of it (like Iceland is doing right now)?
ReplyDeleteI think the problem is that the people and the government are very separate.
The people sign up for the Marines, get their legs blown off, and come home.
Some of the people ascend through various ranks - whether in the Marines, the school system, the civil service - and prove that they have an attitude of servility toward the banksters. The ones that are very good at licking boots are put into the government.
So the government is comprised of the most corruptible fraction of the people. And the banksters bribe the government. And the beat goes on - until some unforeseen crisis causes a problem big enough to sink the ship.
And of course, the Media is wholly owned by the same folks, ergo the people don't even know what's really happening, let alone have the ability to form an opposition to it. I hear you on that...
DeleteBut, this is the Age of the Information Superhighway and all... I'm not saying it's likely, or even possible...but it's something I almost never see discussed. Who do we owe all this money to? If it really is a tiny fraction of people, why don't we tell them to piss off? What would the 'harmful effects' of such a strategy be?