Corporativism in money and banking has led america to fascism

[FONT=Georgia, Times New Roman, Times, serif][Address to the Annual Spring Meeting of the Committee for Monetary Research & Education Union League Club, New York City, 17 May 2012][/FONT]​

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In his State of the Union Message to Congress of 11 January 1944, President Franklin D. Roosevelt warned that[/FONT]
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CONTINUE . . .
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Bump......

 

Part two

[FONT=Georgia, Times New Roman, Times, serif]In the area of money banking, in particular, corporativism leads inevitably to all-around fascism. This is because banking organized on corporative-state lines is inherently unstable, for at least three reasons:[/FONT]​

[FONT=Georgia, Times New Roman, Times, serif]First, fractional-reserve banking amounts to a Ponzi scheme. The banks promise to pay their depositors on demand money they do not keep in reserve. Therefore, if withdrawals exceed reserves, they must pay earlier depositors with later depositors’ money, or with proceeds from outstanding loans which themselves may or may not be fully paid.[/FONT]
[FONT=Georgia, Times New Roman, Times, serif]Second, a government’s reliance on a central bank to monetize public debt will amount to a Ponzi scheme, too, at the point where new debt must be incurred simply to service old debt.[/FONT]

[FONT=Georgia, Times New Roman, Times, serif]Third, a currency unit based upon debt will tend seriously to depreciate in value over time, even when it starts out redeemable in gold or silver.[/FONT]​

[FONT=Georgia, Times New Roman, Times, serif]Faced with these problems, to keep its head above water the Federal Reserve System has been compelled constantly to expand the set of those individuals and institutions who or which use, or are forced to use, its currency and to incur debt. Having established its currency as national “legal tender” in 1933, having removed the restraints of required redemption in gold in 1933 (domestically) and 1971 (internationally), having tied the Treasury of the United States to a policy of endless monetization of public debt, having obtained the ability to manipulate and loot domestic markets in the guise of making what is euphemistically called “monetary policy”, and even having assumed the imperialistic rôle of a “world central bank” emitting a “world reserve currency” which has enabled it and its clients to loot markets across the globe—having done all this, nevertheless the Federal Reserve System now finds itself confronted with serial crises, for which only one solution appears workable: an even greater expansion of fiat currency, bank credit, and United States Treasury debt, to be dumped on a world increasingly less willing to accept it, in exchange for valuable natural resources and cheap human labor.[/FONT]


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[FONT=Georgia, Times New Roman, Times, serif]Average Americans, of course, may not understand why all this is happening—but they do realize that it is happening, and that their own livelihoods, standards of living, and hopes for a decent education, long-term employment, and a comfortable retirement are in jeopardy. The 99% are not blind to which the 1% are doing. They observe the big bankers and their cronies being bailed out financially, immunized from prosecution politically, and infused statutorily with even more abusive powers “unknown to our law and * * * utterly inconsistent with the constitutional prerogatives and duties of Congress”—while the common man receives nothing in the near term and in the long term will be forced pay for all the bail outs, quantitative easings, and other financial chicanery through increased taxation, inflation, and austerity.[/FONT]
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[FONT=Georgia, Times New Roman, Times, serif]If not stopped and punished, this naked looting of the economy and massive redistribution of wealth from the middle class to le gratin financier can only inflame the populace, leading first to social unrest, then to civil disobedience, and finally to violent resistence. But the banking cartel and its allies have no intention of attenuating their avarice. So, domestically, a nationwide para-military police-state apparatus must be—and even as I speak is being—put into place at breakneck speed, in order to clamp down on dissenters and compel the common man to accept whatever economic stringencies are necessary to save the banking system.[/FONT]


http://www.newswithviews.com/Vieira/edwin251.htm

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[FONT=Georgia, Times New Roman, Times, serif]Noticed any of this going on lately?[/FONT]

 

What ever we choose to call it it's still fraud on a massive scale.

 

Or any other country caught up in this fraudulent global system.

Iceland didn't bail the bankers out it put them in jail or booted them out the country and now it's economy is recovering nicely.