windwalker wrote:The United States (and most of the world) has a monetary system that generates profits by using the tool of money to steal value from labor, ie. it is usurious and therefore immoral.
Profits?
How do those countries fund the cost of maintaining the conditions that allow those in business
and others who provide the labor for business to do so in an environment that allows for it?
I didn't mean profits in that sense. The profits from a business that does labor are a positive and moral creation without indebtedness and obligation that leads to debt slavery.
The overall point I am making is that profit should come from the value created by labor, but as things work now profits primarily come from using money to steal value from labor: "Wall Street eating Main Street."
For example, the essentially unlimited ability of Wall Street to create profit from money that is leveraged in order to create more money through elaborate and exotic financial instruments, such as collateralized debt obligations—that have almost no regulatory limitation or regulatory accounting—is immoral and was partly based on the real value of people's homes, which were forfeited when the scheme collapsed in 2008. The theft of value from money creating money resulted in people losing their homes.
The monetary system in the USA from the Federal Reserve Act of 1913 is a system where money is generated from thin air, as debt from its very inception so that its creation generates profits through interest for central banks. These profits are not based on labor and come at the expense of the nation that pays that interest on the creation of that money. Income tax is just the cash flow mechanism to keep the scheme liquid. On top of this, debt money is multiplied through the use of fractional reserve banking (at a rate of at least 9:1) in order to benefit the banker without value being created by labor. All three of these mechanisms are immoral and completely unnecessary, and they did not exist in the USA before 1913, or in Canada for a much longer time afterward.
By some coincidence, the Middle Eastern countries we have bombed to smithereens in the past 20 years do not want to participate in this system, and neither do China, Russia, Iran, or North Korea. Is that what makes them part of the Axis of Evil?
These could be changed and wealth retained by the laborers who create value that is now stolen by an immoral system.
stolen, immoral system )
Feel free to point to another system as an example
or suggest ways to address the immorality, and refund what was stolen[/quote]
I am saying money should be created from thin air directly by a government without attaching an interest-bearing debt to it from its inception.
One suggestion is for the government to create money and spend it into existence in order to fund infrastructure projects. This is similar to what actually happened in the USA during the Great Depression with the WPA and TVA where jobs and projects were funded directly by the government, but the government could have less involvement by just creating the money and spending it through private firms to build bridges, roads, hospitals, schools, etc., instead of borrowing it from The Fed.
Controlling the balance of the money supply with the value of labor in the economy (preventing too much inflation or deflation) is always susceptible to the temptation of theft and concentration of wealth and power, but if the government were in control of that it could be 100% transparent and influenced more by elected officials than private, international, central bankers.
Central banking and income tax are planks of the communist manifesto. Capitalism without morality is usury and debt slavery. We should have a system that achieves balance, and such a moral system would develop enough wealth for everyone to be independent, but that is contrary to the ideology of debt slavery that is the greatest overall influence in society.
Last edited by Michael on Sun Jul 21, 2019 4:19 pm, edited 1 time in total.