We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, September 27, 2011

The Money Masters: Behind the Global Debt Crisis

Click here to access article by Adrian Salbuchi from New Dawn. 

This Argentine author knows of what he writes because of his experiences with the banking crises in his country. His explanations about central banks and banks in general "creating money out of thin air" are very clear and helpful. However, like the folks at the American Monetary Institute, he regards this as the only problem with the capitalist system. (See this and this.) He doesn't understand that the system of capitalism, which is based on the private ownership and/or control of the economy, can never be a socially just system. The private control of money, which is the oil of any modern economy, gives a capitalist class enormous leverage in extracting their wealth. Were this scam eliminated, we would still have private control over the economy to serve private interests--not public interests.
As we assess some of the key components of today’s Global Financial, Currency and Banking Model in this article, readers will hopefully get a better understanding as to why we are all in such a crisis, and that it will tend to get much worse in the months and years to come.