Posted by: graemebird | October 12, 2008

Willpower/World Financial Markets Up For Grabs/We Can Take It.

Fractional reserve corrupts. Once it starts it undercuts honest business and undermines honest dealings. But in the past this corruption proceeded more on a decadal level. And it was fundamentally only to do with cash.

Now fractional reserve precedes in its corrupting influence at warp speed. Now everyone knows I am a supporter and well-wisher of the Americans virtually to a fault. But I’m telling you that you can barely tell apart their finance system from a mob racket. And these people were fine when they were all making mega-millions for indirectly raiding US wealth and destroying their pricing system. Now that they stand to go under they will morph towards the ruthless racketeers that their activities suggest.

This is a bit like what happened to banking in Medieval Europe. Once fractional reserve took off banking and government became indistinguishable. So their was the Medici and the Pazzi in Florence running things.

After a dimunition in direct political power from the banks over the last few decades they have made a dramatic comeback with the Paulson coteries entry into Treasury which basically unites the policy of the incredibly secretive Federal Reserve and the Treasury which used to be dodgy and leftist sure. But not corrupt.

Now its not just some small coterie we are talking about though. Its the systemic corruption of virtually every broker, banking bigshot, gold dealing operation,  and on and on in the country. This is not so much character failure as the very logic of fractional reserve. And now we have fractional reserve EVERYTHING.

Everything is fractional reserve. And it has totally corrupted all of the financial markets of the United States. And the rot has spread here. Why this has spread with such contagion and at warp speed is that the fractional reserve EVERYTHING has been made vastly more possible by the existence of all these computers and the existence of derivatives.

If we aren’t scared of these people, and if we can collar our own financial types who this very moment are in the evolutionary throes of creeping, or galloping, corruption, and if we have the willpower, we can grab the world financial markets, and hog all the custom to ourselves, far more comprehensively and effectively than little Holland did so in the early 1600’s.

Now we won’t DO this. But it is very important, if we want to deal with our problems to understand that we have the CAPACITY to do this. We have the technical capacity to grab hegemony of financial markets if we are willing to take it and if we will not allow ourselves to be undermined by desperate multi-millionaires and bureaucrats.

Now we are basically talking about the phasing of my program. And we are talking about deregulation but winding up with a few more regulations than some idealistic libertarian setup. Since we need to cut off every last possibility or appearance or they very thought of the potential of fractional reserve in any of its forms.

Than one of the things we need to do is make honest-speculation-storage-and-loaning of 100% backed commodities an entirely non-taxeable industry. So if someone is storing gasoline and lending it out at 20% interest as measured in gasoline…. no taxes. If someone is storing gold and providing digitalized or coined money, and loans on 100% backing….. no taxes. All the way down the line.

There would be some pretty severe regulations involved. Take the Perth Mint. It buys into the lying fractional reserve price of Gold around the world although I myself am pretty satisfied that its clean and does not sell fake gold and take derivatives to cover the gyp. But if they sell gold at a price that does not allow them to make delivery that very day then they are letting the fractional reserve fraud set the price. No good for the program I’m talking about.

We would simply have a situation where no-one could compete with us. We would have the whole hedging by storage, trading and lending of real commodities, totally backed, to ourselves.

The Americans are going to lose out. Their markets are totally corrupt which is the reason for these outlandish salaries that have been going on lately. We technically have the ability to take over if we had the will to do so.

 

 

More Later

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