The Shotgun Blog
Saturday, April 05, 2008
Help Wanted: Experienced counterfeiter needed for liquidity crisis
What was once a tactic for Nazi sabotage is now central bank policy. That’s what I took away from the new independent film, The Counterfeiters.
Based on true events, The Counterfeiters tells the story of the conscription of a Jewish money-forger to mass produce counterfeit British pounds and US dollars for the Third Reich. The Nazi scheme was designed to destroy the economies of England and America with hyperinflation.
Before the war ended, the counterfeiting operation produced the equivalent of almost 250 million US dollars.
The Allied victory ended this diabolical scheme to flood the West with worthless paper money...or did it?
In a column “On Money, Inflation and Government,” congressman and Republican presidential candidate Ron Paul wrote:
These past few weeks have provided an unfortunate opportunity to discuss inflation. The dollar index has reached new all-time lows. The total money supply, M3, as calculated by private sources, is growing at a disturbing 17% rate. The Fed is pumping dollars into the economy at an alarming rate. Just recently the Fed announced new loan auctions totaling $100 billion. That is new money created from thin air. If these money auctions, combined with the bailout of Bear Stearns, continue to be the trend, we are in for some economic stormy weather. The explanation lies in understanding the basics of money, and why it is dangerous to give government and big banks control over it.
With the current rate of global money expansion, not even a brilliant counterfeiter like Salomon Sorowitsch could keep pace today.
Rather than prosecuting counterfeiters these days, they should probably all be given jobs at the Fed to help with the so-called liquidity crisis.
Posted by Matthew Johnston on April 5, 2008 | Permalink
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The Fed tries to base money supply on the basis of everything. Sometimes it screws up. But basing it on gold is nonsense. Gold is nothing but part of everything. Jon Paul seems to be barking up the wrong tree.
Posted by: dewp | 2008-04-05 12:44:10 AM
High interest rates create money by lending money.
Where is the productivity behind the money that increases simply because of interest?
Is it really impossible that China, the land of the "knock-offs" isn't madly printing the money of capitalist nations?
Money has it's value as a medium of exchange between those who are productive and as long as those who are productive in a society have confidence in the currency and the government that supposedly issues it, and the productive segment of the population isn't too badly outnumbered by the unproductive segment, then the currency stands.
The U.S. government is merely doing what the Canadian government did, protecting it's dieing manufacturing sector by making it's goods cheap to purchase abroad by devaluing the U.S. dollar.
In the end, they'll fail because the Unions have made the manpower factor in production prohibitively expensive and the only thing that will slow the manufacturing sector's decline is for the Unions to die first.
Posted by: Speller | 2008-04-05 1:42:45 AM
China is probably the only productive nation on the face of the earth at the moment. I'm not sure they have time or inclination to be wasting their green ink.
Posted by: D | 2008-04-05 9:22:51 AM
>"China is probably the only productive nation on the face of the earth at the moment. I'm not sure they have time or inclination to be wasting their green ink."
D | 5-Apr-08 9:22:51 AM
China most productive?
They make a lot of stuff for import but what are their unemployment levels?
You don't know and neither do I.
You aren't sure China has the inclination to"waste green ink" but you are so sure China has a high productivity level?
"The best way to destroy the capitalist system is to debauch the currency."
There is the inclination right there for "wasting" green ink.
Posted by: Speller | 2008-04-05 9:49:36 AM
I believe, most societies go haywire when they lose their moral compass. We are seeing the results now in the economic system. SJG
Does the Moral Collapse Precede the Economic Collapse?
By Stephen J. Gray
“History fails to record a single precedent in which nations subject to moral decay have not passed into political and economic decline. There has been either a spiritual awakening to overcome the moral lapse, or a progressive deterioration leading to ultimate national disaster.” Douglas MacArthur
The Moral Collapse: (some examples)
We have seen the disaster of moral collapse happening before our eyes. We kill our young and call it “choice.” We have men “marrying men” and women “marrying women.” This corruption of words is called “same-sex marriage.” The politicians pass a “law” saying this is “legal.” Now the people know the meaning of the saying: “The law is an ass.” A lifestyle that brings disease and death to many of its practitioners is described as “happy.” Politicians march in parades of “pride” and some of the people in the parades are naked and make obscene gestures. Corporate logos can be seen in the parades as supporters of this debauchery. And the corporate media give pride of place to these disgusting parades on the evening “news.” Some of the representatives of law and disorder, oops, I mean law and order march in these naked outdoor spectacles and try and recruit some of the participants for the “police force.” A judge declares that criminals are “morally worthy” to vote. An “esteemed” judge declares orgies are okay as long as no “harm’ is done and another “respected” judge says a pervert’s work has “artistic merit.” Another judge says that anal sex is "a basic form of sexual expression for gay men,"
A political “leader” meets in secret with two “gay men” one is described in the media as the “husband” of the other man.” These two people want; “Queer History” taught in the schools. Thousands of parents protest against this, and this political “leader” makes himself unavailable or goes into hiding. Meanwhile the scientists are not hiding, and in one country, are in the process of creating half human, half animal hybrids. Is this a world engulfed in its own madness? Is there a virus out there eating brain cells? Or has the abnormal now become “normal?” And is that old saying coming true? “Those whom the gods wish to destroy they first drive mad.”
The Money Collapse?
There is now monetary madness in the marketplace. Those who trumpet the virtues of the free market are now receiving government welfare. Billions of taxpayers dollars from a number of countries central banks are being pumped into the system to stave off economic collapse. And some of the CEO’s whose firms made massive losses get paid multi-million dollar severance packages. A news article had this to say, “some corporate executives have made huge profits from the country's mortgage crisis.” Therefore, one has to ask the question: “Was the monetary system used and abused by financial shysters selling debt, packaged in fancy names? A number of these “ financial institutions” were selling this useless paper while bailing out of it at the same time, and some made huge profits from it. Now some of these same financially “respected” institutions are circling like vultures, the homes of the evicted people, looking to pick them up at dirt cheap prices. Ah, the “morals” of the marketplace! But hey, these are “financial experts” and “pillars” of the financial community. And now some of these “pillars,” are being bailed out by taxpayers dollars. And some of the taxpayers lost their homes. No bailouts for them! Billions in profits were made but the people only hear about the losses.
When money speaks, the truth keeps silent. - Russian Proverb
Truth has indeed been silenced and the monetary losses of financial conglomerates are called “write downs.” The only people who are not allowed “write downs” of their debt are the ordinary taxpayers. But, they are the ones who will pay for this financial chicanery in the long run. Those who trumpeted the slogan: “Get the government off the backs of the people.” Are now receiving government money from the peoples tax monies.
Money is invested by multi-national corporations (who shut down plants in democratic countries) in a communist dictatorship that rips the organs from its own people. Some of the people are used as slave labour and the corporate money manipulators make massive profits. This is called the “free market” at work in a dictatorship. But never mind the dictatorship is hosting Olympic Games and the logos of the monied corporate elites will be flying proudly as sponsors under a communist flag.
Some of the people of this communist land have been kicked off their land to make way for the games and Tibetan protesters are bloodied, beaten and killed. And an Olympic spokesman says, “silent diplomacy” is taking place. Which translated could mean: “Speak no evil of the games.” Meanwhile, the financial games are still being played out world wide. The race never ends in the pursuit of money that has no allegiance to any country. Offshore tax havens house the riches of many ill-gotten gains and the ordinary people are told to “tighten their belts,” because a recession or depression is coming and there is no money. The old saying: “Money is the root of all evil” is surely apt. I believe, we are seeing economic and moral collapse, and I believe, it is best summed up by the quote below.
“Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned; The best lack all conviction, while the worst
Are full of passionate intensity.” - William Butler Yeats
Stephen J. Gray
[email protected] website: http://www.geocities.com/graysinfo
Posted by: Stephen J. Gray | 2008-04-05 3:48:18 PM
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