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CRISI DEL SISTEMA MONETARIO: LE NOSTRE PROPOSTE

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 Non pagare il pizzo del signoraggio è una questione d'onore e di dignità.

Attualità
Petizioni

Appuntamenti
Riassunto del sistema




Attualità      
(Lo sapevate che il petrolio costa oggi meno che negli anni 1980? Chi sta barando sul prezzo della benzina?)
See also: Oil Aid, tracking subsidies to the international oil industry: ITALY
 
ms08 SCEC NEWS aprile 2008:  (Arcipelago Lombardia sarà ancora su STUDIO 1 il 12 maggio dalle 18.30 alle 19.10)

E' online la prima puntata sugli SCEC trasmessa da STUDIO UNO (video) - 24 aprile 2008

Veste grafica deii neonati TalenTO-SCEC di Torino - 24 aprile 2008

TRENTO: ARRIVA 'SCEC' NUOVA MONETA LOCALE - ANSA, 2008-04-24

Arcipelago Lombardia presenta lo SCEC
sul canale STUDIO TV1 di Treviglio - 21 aprile 2008, dalle 18.00 alle 19.15
Nuove monete, economie più eque - Monete complementari: i progetti attivi in Italia - Marco Saba, Il Consapevole n.15, aprile 2008
I buoni di solidarietà debuttano a Oste: in parrocchia questa sera ne spiegherà l'uso Arcipelago Toscano - Il Tirreno, 17 aprile 2008
Arriva la nuova moneta contro il caro vita: Il 25 e il 26 aprile la prima distribuzione dei buoni Thyrus - Arnaldo Casali, Il Giornale dell'Umbria, 12 aprile 2008
Realizzazione di un video sullo SCEC e  le possibili ricadute sulle piccole e medie imprese - 18 aprile 2008
L'Avv. Marco Della Luna al MEETUP di Beppe Grillo a Mantova - Aprile 17, 2008
Incontro con Don Claudio Visconti della Caritas Diocesana Bergamasca - 17 aprile 2008
An open money Tutorial for the unMoney Convergence - Eric Harris-Braun, April 16, 2008

e-SCEC: sottoscritto un protocollo di collaborazione tra ESSEBI, CSM e Arcipelago Lombardia - 14 aprile 2008

Regolamento Operativo per la gestione dei Buoni Locali SCEC
Da oggi, sul sito dello SCEC, potete scaricare e stampare il nuovo numero delle PAGINE AUREE (contenente le attività commerciali aderenti al circuito):
Pagine Auree

LA MONETA COME STRUMENTO DI DOMINIO e le possibili alternative al vigente sistema monetario - Di Piero Sanna (Con la preziosa partecipazione di Pierluigi Paoletti e Giuseppe Littera)
Photo Album: ARCIPELAGO SCEC, la sottoscrizione dell'atto costitutivo e dello statuto
Nasce Arcipelago Lombardia: Coordinamento regionale dei buoni locali di solidarietà SCEC - 11 aprile 2008
La Povertà in Italia e la fame nel mondo - di Andrea Tronchin, CriticaMente, 10 Apr 2008
Lo scorso fine settimana ero a Napoli per la fondazione di Arcipalago SCEC, questa neonata associazione ha stampato e distribuito alle prime realtà che stanno per adottare il sistema SCEC (Solidarietà ChE Cammina) 1 milione e 200 mila SCEC in totale

Con ArcipelagoSCEC la solidarietà si avvicina - di Pierluigi Paoletti, 7 aprile 2008
Nasce ufficialmente ARCIPELAGO SCEC e sorge l'idea di uno SCEC POINT
- 5 aprile 2008
Nasce ArcipelagoSCEC all'ombra del Vesuvio - CasertaNews, 4 Aprile 2008
Il 5 e 6 di aprile, a partire dalle 11, la Federazione Territoriale Città del Monte, diretta da Paola Acampa, ospita e promuove, nella splendida cornice del Fiume di Pietra nel parco naturale del Vesuvio, la costituzione del l'associazione ArcipelagoSCEC (la Solidarietà ChE Cammina), ovvero il coordinamento nazionale dei Buoni Locali SCEC
International Journal of Community Currency Research - Volume 11, 2007
MONETE ALTERNATIVE E RIFORMA MONETARIA IN ITALIA - Marco Della Luna, Aprile 2, 2008
Documentario sulla Banca WIR (video, sottotitoli in italiano)
Fase di stampa degli SCEC, il sistema più economico per restituire il potere d'acquisto al popolo SOVRANO:
Sei povero? Stàmpateli!

ALTRE NEWS aprile 2008:                              DOSSIER SUL CASO "FORD AFFAIRE"

Denis Robert e Marco Saba, a LeccoLa Giustizia II: una fotografia per tabelle - di alberto bisin, 24 Aprile 2008

Financial Analysts Offer To Talk About Recession For $5 - The Onion, April 21, 2008

To Defeat Famine: Kill the WTO (pdf) - by Marcia Merry Baker, Executive Intelligence Review, April 25, 2008

Oil jumps to near $120 a barrel - BBC News, 22 April 2008

JP Morgan sees £37bn capital gap in Big Four UK banks - TIM SHARP, The Herald Tribune, April 22 2008

Why Gold Was 'Hacked' Friday- and How - By: Alex Wallenwein, Apr 19, 2008

Lo squalo Carlyle divora ancora - Maurizio Blondet, Effedieffe, 22 aprile 2008
La battaglia degli squali continua, anche se il livello dell’acqua nell’acquario si è parecchio abbassato. Evidentemente, c’è ancora chi fa credito a queste operazioni, anche se ha cessato di far credito ai proprietari di case gravate da mutuo

Le prossime vittime del crack: tre milioni di pensionati USA - Monica Semprini, Effedieffe, 22 aprile 2008

Nasce il nuovo ordine mondiale. Non quello voluto - Maurizio Blondet, Effedieffe, 21 aprile 2008
Alcuni Paesi hanno rigettato le ricette del liberismo e dei suoi custodi globali («privatizza, liberalizza, svaluta») per adottare politiche economiche nazionali, «disapprovate» dal FMI: e stanno crescendo meglio dei vicini, e anche più del Vietnam e della Cina. I Paesi liberati sono: Argentina, Bolivia, Brazile, Cile, Salvador, Messico, Uruguay

04/22/08 - 8 Million Golden Reasons - by The Mogambo Guru
"A lot of people have a lot of theories as to why gold is going down, when the theory and the entire history of economic mankind say it should be going up, and most of them are right, to one degree or another, as there are as many reasons for acting as there are actors, and there are eight million stories in the naked city."

04/21/08 - Disproportionate Derivatives - by The Mogambo Guru
"The total value of the existing global gargantuan globular glut of derivatives is estimated to be more than $700 trillion! Compare this stupefying fact to the associated fact that global GDP is only about a lousy $50 trillion!"

Turbulent times announced for the Eurozone - by Bruno Odent, L’Humanité, April 22nd, 2008
European trade-unionists took to the streets of the EU’s current leader Slovenia’s capital, to demand real salary rises after years of pitiful salaries, and to condemn falling purchasing power and worsening vulnerability

British government bonds May Be Hit by Bank Bailout - By Ambrose Evans-Pritchard - The Telegraph, April 22, 2008
Goldman Sachs has advised clients to take out "short" positions on British 30-year Gilts before a rash of new issues by the Government floods the bond market

Cara politica come ti compro! (2) - Danielle Martinelli, 22 aprile 2008

GATA went to Washington - by: Alex Stanczyk, 21 Apr, 2008
Desperate people start to ask questions, and shortly thereafter that, assign blame. If our politicians want a long and successful career ( or life ) they should be aware of this

Edwin Vieira Jr.: Silver and gold guarantee freedom - Gata.org, 2008-04-21

System-Kollaps laut Grübel nur knapp vermieden: Ex-Credit-Suisse-Chef zieht Vergleich mit Kuba-Krise - NZZ Online, 21. April 2008

Cara politica come ti compro! (1) - Danielle Martinelli, 21 aprile 2008

World recession 'worst since 70s' - BBC, 21 April 2008
Singapore's cash has bailed out cash-strapped Western banks recently

Bank details £50bn lending boost - BBC, 21 April 2008
The Bank of England has announced details of a plan to widen the credit crisis causing more damage to the UK banking system and economy

Traders bet on more falls to come for banks - Renée Schultes, Financial News, 21 Apr 2008
Andrew Wilkinson, senior market analyst at Interactive Brokers, said put buying on financials intensified again in the early part of last week with news of Wachovia’s first-quarter loss and $8bn capital raising. He said: “People are beginning to understand how big the iceberg is, but there is still an overwhelming sense of fear out there

RON PAUL WANTS IRS DEAD - By Mark Anderson & Pat Shannan, AFP Issue # 17, April 28, 2008
Candidate tells crowds at Tax Day rally the money we earn should be our own

Fool's Gold - by Michael Fox, April 20, 2008

UN chief calls for int'l action on rising food prices - AFP, April 20, 2008
Hunger
Protesters march behind police with a banderole reading, "Hunger justifies the means"

BOE Foolishly Follows Fed Footsteps - Michael "Mish" Shedlock, April 20, 2008

Usury and the Church of England - By the Rev. Henry Swabey, cesc publication, april 2008

The Political Economy of Moral Hazard - by Jörg Guido Hülsmann, mises.org, 4/19/2008
Economists agree on the positive role that "good" incentives play to increase production. They also agree that "perverse" incentives have an opposite impact. One of these perverse incentives is called moral hazard, the subject of our present essay

GALLONI SUL CALO DI PRODUTTIVITA' DEL SISTEMA ITALIANO - AgenParl, 9 Aprile 2008

William Shepherd, Why Banks?,  DISCUSSION DRAFT - Spring 2004

Accoltellato per un posto letto alla Caritas - di Stefano Vladovich, Il Giornale, 20 aprile 2008

Caritas: i numeri dei poveri a Rimini - RTV S. Marino, 19/04/2008
L’80% delle persone che chiedono aiuto sono straniere, il restante 20% è italiano

Famiglie che con la crisi economica non arrivano alla terza settimana. CARITAS: NUOVI POVERI SONO GLI IMPIEGATI MINISTERIALI - AGI, 17 aprile 2008
Quello che oggi viene chiamata la sindrome della quarta settimana - spiega Di Tora all'Agi -, e che colpisce molte famiglie che, con i loro stipendi non arrivano piu' alla fine del mese, si e' certamente spostata alla terza

Guido Rossi: "Tremonti non ha tutti i torti" - La Stampa, 20 aprile 2008
Come spiega Krugman non siamo solo di fronte a una gravissima crisi finanziaria, ma anche di una crisi che sta distruggendo a ritmo veloce le riserve di materie prime in cerca di sostituti per il petrolio. Altro che distruzione creativa! E dal punto di vista finanziario la crisi è peggiore di quella del '29 non solo per le sue dimensioni, ma anche perché il capitalismo si autodistrugge

IMF may have no gold at all but Fed has gold secrets - gata.org, April 19, 2008
The Federal Reserve, in response to GATA's freedom-of-information request for access to documents involving gold swaps, has confirmed that it has such documents, that some of those documents contain secrets about gold, and that the Fed plans to keep these secrets...

Investors applaud decision of Société Générale chief Daniel Bouton to step aside - By Nicola Clark, IHT, April 18, 2008

There are no markets anymore, just interventions - Remarks by Chris Powell, Secretary/Treasurer at GATA, April 18, 2008
The Washington Agreement on Gold, made by the European central banks in 1999, was another admission -- no, a proclamation that central banks were working together to control the gold price. The central banks in the Washington Agreement claimed that, by restricting their gold sales and leasing, they meant to prevent the gold price from falling too hard. But even if you believed that explanation, it was still collusive intervention in the gold market...

Hedge fund managers get billion-dollar paydays - By Jenny Anderson, Herald Tribune, April 16, 2008

Angle mort 1, 2 et 3 - Denis Robert, 19.4.08

Ex-Refco president Tone Grant convicted of securities fraud - Dow Jones Newswires, 18 Apr 2008
The conviction comes nearly two months after former Refco chief executive Phillip Bennett and Robert Trosten, the company's ex-chief financial officer, pleaded guilty to criminal charges in the matter. Bennett is expected to be sentenced in May. Joseph Collins, a longtime lawyer for Refco, also is facing criminal charges in the matter. Austrian bank Bawag PSK reached a deal in June 2006 to settle US Justice Department and US Securities and Exchange Commission charges that the bank helped Bennett and others conceal Refco's true financial picture

How Safe is My FDIC-Insured Bank Account? - By: Dr_Martenson, Apr 14, 2008

[panico] Juncker a Berlusconi: «Non c'è necessità di ritornare sul mandato della Bce» - Corriere della Sera, 17 aprile 2008
«Non c'è più alcuna possibilità nè del resto necessità di ritornare sul mandato della Bce. Il Trattato è il Trattato», ha aggiunto Juncker...

Oil reaches $117 for first time - BBC News, 18 April 2008
Oil prices touched $117 a barrel for the first time after a militant group in Nigeria said it had attacked a Royal Dutch Shell-operated pipeline. The dollar has been tumbling since last September when the first signs that the slumping housing market threatened to wipe out profits at some of the world's largest banks became apparent

CRISIS IN EGYPT: The Daily Struggle for Food - By Ulrike Putz, Der Spiegel, April 18, 2008
Rising global food prices have plunged Egyptians into a desparate daily struggle for survival. Many are unable to feed their families, and the hungry have taken to the streets. Is more violent unrest to come?

Global food crisis looms as Asia's rice bowl empties and world price soars - By Raju Gopalakrishnan, The Scotsman, April 18, 2008
The unprecedented surge, which some analysts said is going to continue, posed a growing threat to regional governments worried about the prospect of hoarding and social unrest

Food: The silent tsunami - The Economist, Apr 17th 2008
Food prices are causing misery and strife around the world. Radical solutions are needed

Merrill and Citigroup wield axe as 3,500 City jobs set to be cut - By Philip Aldrick and James Quinn, The Telegraph, 18/04/2008

The REAL cost of inflation: The Mail's Cost of Living Index reveals food prices rising at SIX times official figure - By SEAN POULTER, Daily Mail, 18th April 2008Net yourself some extra income online
The Mail's index finds that food costs alone are rising at 15.5 per cent a year - more than six times the official rate. And there are double-digit increases in other "must-pay" essentials such as petrol, gas and electricity. Many families need to find more than £1,200 extra a year just to stand still


Esiste davvero un Governo Ombra Mondiale ? - Svetlana Kuzina, Вернуться на главную, 18 aprile 2008

Is there a secret world government? - by Svetlana Kuzina, Вернуться на главную, 02 aprile 2008

European authorities losing patience with collapsing dollar - By Ambrose Evans-Pritchard, The Telegraph, April 18, 2008
European industry has managed to live with the high euro so far, but the damage of major currency shifts can take years to surface. "The moment will come where the exchange rate level will start to cause serious harm to the European economy," said Mr Juncker

Panic Time at the Fed - Steve H. Hanke, FORBES, 04.18.08

Public opinion about the economy erodes rapidly
The percentage who hold a negative view of the economy is up 33 points over the past year, and the pNet yourself some extra income onlineercentage who rate the economy "poor" has increased 13 points in the past two months. That is the quickest 60-day decline since The Post and ABC started asking the question, in 1985

Citigroup to cut 9,000 jobs after posting loss - By Jonathan Stempel and Dan Wilchins, Reuters, Apr 18, 2008

Citirgroup Earnings, Downgrades and LIBOR - The Financial Ninja, April 18, 2008

04/18/08 - Inflation of the Third Kind - by The Mogambo Guru
"My God! This is all inflation news that is beyond terrible, but it seems so much less than that after the 73% rate of crude goods! But the reality is that we're freaking doomed, whether it seems like it or not!"

Chaos Chronicled: THE WORLD FINANCIAL CRISIS  - By : Alf Field, 24hGold, 04/17/08
- Money - its origins and the various forms into which it has evolved;
- The Fractional Reserve Banking system;
- The International Monetary System;
- The development of derivatives, especially the Over The Counter (OTC) derivatives market;
- How the various inputs melded into the difficult crisis that the world is now facing.

04/17/08 - Heart Attacks and Tax Codes - by The Mogambo Guru
"Already beset by demons of my deteriorating mental and cardiac capacity, the idea that the capital gains tax was already 5% and I hadn't even noticed had me in a panic! What else wasn't I aware of? I shuddered to think!"

MESSAGE IN A BOTTLE - By Amanda Martinez, Good Times Magazine, March 19, 2008
Trash twice the size of the continental United States is collecting in the North Pacific, but here's the kicker: most of it is made to last forever

Net yourself some extra income online - The Telegraph, April 17, 2008

Bankers Cast Doubt on Key Interest Rate Amid Crisis - By Carrick Mollenkamp, The Wall Street Journal, April 16, 2008
To hide desperation for cash, banks may be falsifying interest rate reports

McCain’s Rightwing Economics - By Matthew Rothschild, The Progresive, April 16, 2008
These tax breaks would go disproportionately to the very rich. “Half goes to people making over $200,000 a year—that’s the top 4 percent,” Aron-Dine says. “A little more than a quarter goes to the top 1 percent.”

Credito Valtellinese breaks the 'step-up' taboo - Financial Times, 17 aprile 2008

Worldwide Hunger Catastrophe! Produce Food, Not Biofuels! - by Helga Zepp-LaRouche, Executive Intelligence Review, April 18, 2008
What's happening now was totally foreseeable: There is an explosion of disastrous hunger and food riots in 33 (!) nations in Africa, Asia, and Ibero-America. Without doubt, the world is standing at the brink of a hunger-tsunami, which is the direct result of the attempt by the central banks to postpone the collapse of the hopelessly bankrupt world financial system

[OGM] Les multinationales de l’agrogénétique industrielle se font la malle… - Posté par Aurel le 16/4/2008
Présentes dans les listings 2001 de Clearstream, révélés par le travail de Denis Robert, Cargill première entreprise exportatrice au monde de denrées transgéniques, en partenariat avec Monsanto, et inondant les ports français de soja et de colza transgéniques, ainsi que Unilever multinationale de l’agroalimentaire, ont ainsi utilisé (et continuent d’utiliser ?) les réseaux financiers de la chambre de compensation Clearstream

Bergamo: Coperti quintuplicati negli ultimi 5 anni alla mensa per poveri dei frati Cappuccini (pdf)  - DNEWS, pag.11, 17 aprile 2008
Secondo la Caritas, sono 13.000 le famiglie povere nella bergamasca

FALLISCONO LE BANCHE - 16.04.08
Dal settembre 2007 a metà marzo 2008, l’indice di insolvenza è raddoppiato, le azioni delle banche hanno perso mediamente un 50%, i fondi di investimento sovrani il 30%, l’indice di volatilità azionaria Vix è ai livelli del 1938 – la vigilia della II Guerra Mondiale. Ma nessun parlamento e nessun governo discute pubblicamente questa emergenza.

04/16/08 - The Monetarist School of Economic Assassins - by The Mogambo Guru
"On a stand-still basis for foreign exporters, we would have to pay prices that are 20% higher for our imports, just for them to break even when converting dollars back into their native currencies! Hahaha! We pay more for things! Welcome to the hell of a falling currency!"

Financial Meltdown: U.S. Treasury Regulatory Reform Proposals: Hapless, Helpless, Hopeless - by Richard C. Cook, Global Research, March 31, 2008

Genova, tre donne decidono di donare un organo in cambio di un aiuto per sopravvivere - Il Messaggero, 16 aprile 2008

Salute: Dental trips, il dentista è low cost oltre confine! - La Stampa, 9/4/2008

Pena di morte per disordini: Chiediamo il referendum sul Trattato Europeo di Lisbona - Larouchepub.com, 16 aprile 2008

Asse Parigi-Roma contro l’euro forte - Maurizio Blondet, Effedieffe, 16 aprile 2008
Ma Jurgen Stark ràntola: «Raccomando ai leader politici europei, i neo-eletti e i rieletti, di leggere le leggi europee sulla Banca Centrale». (...) In questo vuoto d’alternative, i banchieri - ossia i responsabili del disastro - vengono invocati (in Europa da Gordon Brown) perchè trovino le soluzioni al disastro, mentre dovrebbero essere fucilati sulla pubblica piazza. (...) E a proposito di banche: il Telegraph avvisa che il Credito Valtellinese (performance: - 27,61% in un anno) «è diventata giusto ora la prima banca europea a memoria d’uomo a saltare la redenzione di una sua obbligazione redimibile, sollevando allarme su possibili più gravi problemi nel sistena finanziario italiano».

U.S. housing collapse spreads overseas - IHT.com, 16 aprile 2008

Chinese GDP grows at 10.6% in first quarter - The New York Times, 16 Apr 2008

JP Morgan predicts credit pressure to last a decade - Renée Schultes, Financial News, 16 Apr 2008

Citigroup Wins Dismissal Of Many Parmalat Claims - REUTERS, April 15, 2008

Activists win victory at Washington Mutual - Shanny Basar, Financial News, 16 Apr 2008
A board director at Washington Mutual, the US regional bank, has resigned following a campaign led by CtW Investment Group, an umbrella body that represents union pension funds, against banks that have written down billions of dollar related to the credit crisis

Inflation uptick highlights ECB policy dilemma - By William L. Watts, MarketWatch, April 16, 2008

- April 15th 2008 Global Strike: join with the millions of Americans who now know about the IRS fraud

- unMoney Convergence Conference
- Seattle, WA, April 14th-16th, 2008


British Destabilize Africa: Food Riots Spread as Hunger Deepens - EIRNS, April 9, 2008
The London Guardian newspaper listed the worst food unrest, most recently, as threatening the stability of Egypt, Haiti, and Ivory Coast, but also the riots in Cameroon in February; in Mauritania, Mozambique, and Senegal; and protests in Uzbekistan, Yemen, Bolivia, and Indonesia. UN staff in Jordan also went on strike for a day this week to demand a pay raise in the face of a 50% hike in food prices

Bear Stearns Buy-Out... 100% Fraud: Bank robbed by insiders, loss covered by taxpayers - by John Olagues, 16 April 2008

Liars, Wall Street & Your Gold - Jim Willie CB, 321gold, Apr 16, 2008

Zimbabwe inflation hits 165,000% - BBC News, 16 April 2008

Fresh jump in eurozone inflation: Goods are getting more expensive across Europe - BBC News, 16 April 2008
Surging food and fuel prices pushed up annual inflation in the eurozone to a record 3.6% last month, official figures have shown

Government plans to help UK banks - BBC News, 16 April 2008
Vince Cable, deputy leader of the Liberal Democrats: "I am very concerned that in addition to all the costs associated with Northern Rock, the government is going down the disastrous road of bailing out the banks and leaving the taxpayer with the liabilities."

Steep rise in Chinese food prices - BBC News, 16 April 2008

COPS AND FORMER SECRET SERVICE AGENTS RAN BLACK OPS ON GREEN GROUPS - By James Ridgeway, MotherJones.com, April 2, 2008
A private security firm has been spying on Greenpeace and other environmental groups for corporate clients

Remarks by Under Secretary David H. McCormick to the CFA Society of Chicago: The International Response to Financial Market Turmoil - US Treasury, April 16, 2008

Assistant Secretary David G. Nason Testimony before the House Committee on Financial Service Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises - US Treasury, April 16, 2008

Testimony of U.S. Treasurer Anna Escobedo Cabral before the House Committee on Financial Services - US Treasury, April 15, 2008

Credit Default Swaps: Derivative Disaster Du Jour - by Ellen Brown, OEN, April 10, 2008

Prices soaring as biggest grain exporters halt foreign sales - By Javier Blas, Isabel Gorst, and Lindsay Whipp, Financial Times, April 16, 2008

PRODI LASCIA PD E POLITICA - Di Giulio d'Andrea, julianews, 16/04/2008
L'aquila di Scandiano

[naked short on silver] Super Concentration - By: Theodore Butler, 15 April, 2008
There is only one fail-safe method to insure real metal exists - the serial numbers. We are fortunate that all 1000 oz silver bars have a unique serial number and hallmark and specific weight. Use your common sense and get those serial numbers on every bar stored for you. No exceptions, or excuses or alternative explanations of any kind for any type of storage program. To not insist those unique characteristics be provided to you is simple personal negligence on your part. If you can’t get the serial numbers, I assure you that the silver does not exist...

IN JUSTICE SHIFT, CORPORATE DEALS REPLACE TRIALS - By Eric Lichtblau, New York Times, Apr. 9, 2008
In 2005, federal authorities concluded that a Monsanto consultant had visited the home of an Indonesian official and, with the approval of a senior company executive, handed over an envelope stuffed with hundred-dollar bills. The money was meant as a bribe to win looser environmental regulations for Monsanto's cotton crops, according to a court document. Monsanto was also caught concealing the bribe with fake invoices...

Reforging Adam Smith: Currencies Beyond the Gates of Self-Interest - John Bloom, April 03, 2008

04/15/08 - Melting a Grammy for the Gold - by The Mogambo Guru
"I hope you have a good grip on your hat because it is going to fly up off of your freaking head when I tell you that right now the S&P500 is sporting a P/E of 21, and the freaking Dow is so overly-valued that it is selling at a P/E of 53!"

THE CASE FOR NEUTRON EMISSION FROM DEPLETED URANIUM - by Elaine Hunter, Apr 15, 2008

The Madness of Ben Bernanke - By Gabor Steingart, Der Spiegel, April 14, 2008
Banksters

Venezuela sends 364 tons of food to Haiti - www.chinaview.cn, 2008-04-14

Londra consiglia: ricette di guerra - Maurizio Blondet, Effedieffe, 15 aprile 2008

04/14/08 - Cursing the Loss of Purchasing Power - by The Mogambo Guru
"This amazing phenomenon proves either that the government's Plunge Protection Team exists and is massively operating to intervene in the markets, or that people are truly idiots. Or maybe delightful little fairies guard our dreams and protect us in life!"

Carla Del Ponte dénonce un trafic d'organes qui implique l’actuel Premier ministre albanais - L'investigateur, 14/04/2008

Analysts predict credit crunch fallout will hit Europe hirings - David Bain, Financial News, 14 Apr 2008
Wealth managers say they are hiring at record levels but headhunters and analysts believe there are indicators that show the boom may be drawing to a close as the credit crunch begins to affect wealth creation

Is An International Financial Conspiracy Driving World Events? - By Richard C. Cook, rense.com, 4-11-8
Average family income in the U.S. has steadily eroded while the share of the nation's wealth held by the richest income brackets has soared. Some Wall Street hedge fund managers are making $1 billion a year while the number of homeless, including war veterans, pushes a million
David Rockefelle

Avatars, Virtual Reality Technology, and the U.S. Military: Emerging Policy Issues  - Clay Wilson, CRS Report for Congress, April 9, 2008

(clearing & Accounting) An open money Tutorial for the unMoney Convergence - Eric Harris-Braun, Apr 13 2008

PM and bank bosses discuss crisis - BBC NEWS, 15 April 2008

Brown says economy is sole focus - BBC NEWS, 14 April 2008

G-7 may have to do more than talk to stop dollar's slide - By Simon Kennedy, Bloomberg News Service, April 14,2008
Defaulting Californians leave Wachovia with $8bn headache - Miranda McLachlan, Times Online, April 14, 2008
The Tibet Human Rights PsyOp - By Michel Chossudovsky, 4-14-8
E’ la finanza che ci vuole alla fame - Maurizio Blondet, Effedieffe, 14 aprile 2008
Save the US Economy and Rekindle Democracy by Giving the Workers a Raise - By: Mike Whitney, Economics/Credit Crisis, Apr 13, 2008
Ben

CARTELLE ESATTORIALI PAZZE: UNA ESTORSIONE SISTEMATICA DELLO STATO IN DANNO DEI CITTADINI? - Di Solange Manfredi, 13 aprile 2008

Brother Can You Spare 10 Grand? - Peter Schiff, 321gold, Apr 14, 2008

The British Empire's Economic Suicide Club - by John Hoefle,  Executive Intelligence Review, April 11, 2008

Voto: aborto, famiglia, precariato, il sociale nei programmi - Reuters, 12 Apr 2008

Credit crunch hits home - Jill Insley, The Observer, April 13 2008

BUON APPETITO! - di Michele Buono, Piero Riccardi, Report RaiTre, In onda domenica 13 aprile alle 21.30

[siamo migrati su Linux Ubuntu 8.04, scusate il disagio]

G-7 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS FINALLY ACKNOWLEDGE THAT THE GLOBAL FINANCIAL CRISIS IS ASSOCIATED WITH FRAUD AT THE BIG BANKS - Christopher Story, Worldreports, 12 April 2008

04/11/08 - Government Spending Burns the Toast - by The Mogambo Guru
"This same bankrupt America is getting ready to send out $160 billion in 'economic stimulus' checks, where the government is literally giving people free money even though the government is borrowing like crazy just to keep afloat, which means that we that are truly, truly toast."

04/10/08 - Not-So-Quiet Food Riots - by The Mogambo Guru
"And worse yet for us alcohol-besotted worthless lushes out here, heroically keeping bartenders and comely barmaids gainfully employed year around, the price of hops, an integral ingredient in beer making, has soared from $4 a pound to $40."

POLITICHE 2008: ED ADESSO POVERI ELETTORI? - Viaroma100.net, 12 Aprile 2008

[se la menano e se la cantano] Bnl, Bankitalia assolve le operazioni sui derivati - di Laura Serafini, Il SOle24Ore, 11 Aprile 2008

Crisi finanziaria: Lo Stato al capezzale delle banche - Alfonso Tuor, Corriere del Ticino, 08/04/2008

"Je suis un criminel" ( page 1 )  ( page 2 ) - Denis Robert, XXI, april/mai/juin 2008

Soros Says Credit Crisis Will Worsen Before Improving - By Patricia Kuo and Bei Hu, Bloomberg, April 10, 2008

Food riots could spread, UN chief warns - By Gary Cleland, The Telegraph, 09/04/2008

Government is the Largest Employer: The Fading American Economy - By PAUL CRAIG ROBERTS, Counterpunch, Apri1 9, 2008

Winston Smith and the Bailouts in Oceania: Lessons from the Great Depression Part VII - 10th, 2008
Now financial magnates who still cried out for “less government in business” and inveighed against “the dole” could go, hat in hand, to Washington and get the government to put itself into business by giving a dole of credit to their banks or railroads. The apostle of rugged individualism had taken the longest step in American history toward state socialism - though it was state socialism of a very special sort.”

- AMI, FREE  MONETARY  SEMINAR: Why is Our Money System Broken Again? - Place: Busboys and Poets Restaurant (Langston Room) 2021 14th St. NW, Washington DC 20009, April 10th, 2008, 6PM to 8 PM

Recessione: il delitto dei banchieri centrali - Maurizio Blondet, Effedieffe, 09 aprile 2008
Quanti ministri risiedono in consigli d’amministrazione per grazia ricevuta e favori fatti? O quante mazzette estero-su-estero finiscono nelle tasse di coloro che chiamiamo «governanti» quando vanno a Mosca a firmare un contrarro Eni-Gazprom, o - nel caso di semplici assessori regionali - come compenso per aver dato l’appalto delle lavanderie ospedaliere ad una certa azienda? Su quei redditi, il modulo 740 non può nulla. La Casta è, per definizione, esente

SWISS CONNECTION (introduzione) - di Gian Trepp, traduzione di Maritsì Levi Dal Monte MeHar, 9 aprile 2008
La lotta contro il riciclaggio di denaro è considerata in tutto il mondo un compito primario. Altrettanto grande è l'interesse generale alla pubblicazione di informazioni e analisi sui percorsi del denaro sporco. Far luce è il motto di questo libro. Non si vuol tanto portare l'attenzione su singoli casi, avvenimenti, scandali quanto render visibili quelle strutture e intrecci finanziari in cui il flusso del denaro sporco si mescola con quello legale. Fare i nomi di società e persone diventa perciò inevitabile. (NB: il libro è inedito in Italia...)

04/09/08 - Perched on an Economic Fault Line - by The Mogambo Guru
"If Saudi Arabia and the other Gulf states end up cutting their ties to the dollar, secure in the knowledge their petro-economies would emerge stronger from the upheaval, the process might well have begun in the summer of last year - when Dick Cheney tried to line up Arab support for an attack on Iran."

04/08/08 - Trillions Embarrass a Billion-Dollar Bulwark - by The Mogambo Guru
"Half of the Fed's stash of government debt has been used up already! Yikes! And how big is the entire rest of the Fed's stash of government securities? A piddly $629 billion! Hahaha!"

Oh Keynesian, Where Art Thou? - by Mateusz Machaj, Mises.org, Daily Article Posted on 4/8/2008
Abolish the Fed and move toward a free-market monetary system


The EU Empire
- by Brian Denny, Spectrezine, April 8, 2008
The people of Ireland have a chance to decide their country's future when the Lisbon Treaty comes up for a referendum. But Brian Denny warns that the EU is preparing to ignore them

- SPECULANDO S'IMPARA - di Stefania Rimini, Report RAITRE in onda martedì 8 aprile 2008 alle 21.00

Mafia dei colletti bianchi: lettera aperta di due imprenditori lombardi + documenti - 8 aprile 2008


Considerazioni sul fenomeno economico-monetario del SIGNORAGGIO da parte del presidente e fondatore del Partito Comunista del Lavoratori (PCL) Marco Ferrando (video) - Spezzone di una trasmissione andata in onda il 10/10/2006 su Canale Italia

2015, pioggia di miliardi: chi guadagnerà con l'Expo - Luca Pagni, La Repubblica, 08 aprile 2008

04/07/08 - The Government Genie Flips a Coin - by The Mogambo Guru
"If you think that a negative lease rate for gold is weird… You are a winner! You have won the chance to choose between the two Mogambo Doors Of Mystery (MDOM) and claim the fabulous prize that is waiting there for you!"

Railcars idle as economy falters - By SUSAN GALLAGHER, Associated Press, 04/04/08
Analysts say transportation usually is among the first sectors to show signs of a downturn in the economy and with Americans feeling pinched — employers eliminated 63,000 jobs last month amid declining consumer confidence — it could be a while before the idle cars move

Iranian President Urges OPEC to Form Joint Bank, Stop Pricing Oil Trades in US Dollars - AP, April 6, 2008

King of the Financial Thieves - Bob Chapman, April 2 2008

ITV - Metro - Par François Bourboulon, la domination du monde, 8.4.08

The Never Ending Saga Of The Banking Cartel (2) - Marco Saba, OFT, Gata, April 8, 2008

Renzo Rabellino del Movimento No Euro: incentivi per l’ambiente, federalismo fiscale e aumento delle pensioni - di Enza Beltrone, Agorà, 8 aprile 2008

Even Kitco market analyst Jon Nadler starts to suspect market manipulation - Gata.org, 2008-04-08

[FITD] ASPETTANDO IL BANCO DELLE GIOVANI MARMOTTE - di Eugenio Benetazzo, 7 aprile 2008

CHANGE WE MUST - By Peter Montague, Rachel's Democracy & Health News #953, April 3, 2008
Two people have sued in federal district court in Honolulu, trying to stop a group of scientists in Europe from conducting a particle physics experiment that, they say, might create a black hole that could destroy the Earth and perhaps the entire universe
Black Hole

Good thing there's no inflation -- just maybe starvation - By Marianne Stigset and Tony Dreibus, Bloomberg News Service, April 7, 2008

Is gold going east to keep oil principalities in line? - Gata.org, April 7, 2008

ROMA: GLI IMPUTATI DENUNCIANO IL TESTE DELL'ACCUSA - Marco Saba, 7 Aprile 2008

Interazioni future - di Anna Teresa Damiano, Nea Polis 07/04/08

[banking] THE QUESTIONS NOT ASKED THAT HAVE RUINED A NATION - By Greg Evensen, NewsWithViews.com, April 6, 2008

A Global House of Cards: Interview with Josh Rosner - The Institutional Risk Analyst, April 7, 2008
Bernanke seems completely co-opted by Paulson and the Goldman Sachs mafia that runs the Treasury

Egypt's Workers Battle Police Amid Rising Economic Discontent - PAUL SCHEMM, AP News, Apr 06, 2008
Protesters stormed city hall, burned tires in the streets, smashed chairs through shop windows and ran off with computers. At least two schools were set ablaze and facades of banks were vandalized, police said

US jobless figures: The specter of a new depression - by David Walsh, Global Research, April 6, 2008

US financial system faced collapse, bank regulators tell Senate hearing on Bear Stearns bailout - by Barry Grey, Global Research, April 6, 2008

Got Gold Report - Gold, Silver ‘Bubbles’ Pricked? Rubbish - By Gene Arensberg, 06 Apr 2008

Ministri sviluppo G8 chiedono intervento su prezzi alimenti - Reuters, 6 Apr 2008

Short silver - Gata.org, 2008-04-04
David Morgan, proprietor of Silver-Investor.com and editor of The Morgan Report, reports that his survey of silver dealers found that for most of them February was the best sales month in a long time. Morgan adds that one of these days a big silver buyer is going to call the bluff of the silver shorts on the Comex and stand for delivery, sending the market into a new dimension

Soros calls financial crisis worst since Great Depression, sees more market declines - by Joseph Lazzaro, BloggingStocks, Apr 3rd 2008

Voici l’intégrale, en trois parties, de l’émission “Sous les pavés, Denis Robert - La TéléLibre.fr, 5 avril 2008

Bear Stearns had one-day liquidity loss of more than $10bn - Shanny Basar, Financial News, 03 Apr 2008

Denis Robert: "Une seule envie, retourner à l'écriture" - Par Hubert Artus, Rue89, 05/04/2008

Fanno meglio di noi: copiamoli - Maurizio Blondet, Effedieffe, 05 aprile 2008

Valuation Without Calculation - by Ludwig von Mises, Daily Article Posted on 4/5/2008

04/04/08 - A Crude Source of Welfare - by The Mogambo Guru
"In short, apparently these countries need the price of oil to stay high to pay for their welfare expenses…which means that they will necessarily be raising oil prices again pretty soon…"

04/03/08 - Another Bar of Golden Idiots - by The Mogambo Guru
"Well, then, you're an idiot, Frank! A big, stupid moron! In fact, all you stupid people in this bar are stupid, because you all think that you are not going to be destroyed by the fires of an inflationary hell…"

The Never Ending Saga Of The Banking Cartel (1) - Marco Saba, OFT, GATA, April 4, 2008
Dear GATA: Can you help me to answer the UK OFT anti-cartel police about gold fixing and banking cartel in UK?

Ora è globale anche la fame - di Maurizio Blondet, 03/04/2008

The Kidnapping and Killing of Aldo Moro - Leo Lyon Zagami, 4th of April 2008
Giovanni Galloni and Maria Fida Moro               Marco Saba and Cristiano Lovatelli Ravarino
             Giovanni Galloni and Maria Fida Moro                                               Marco Saba and Cristiano Lovatelli Ravarino

Veltroni: "Buoni spesa per le famiglie" - estense.com, 2/4/2008

[TELECOMio] Un "top manager" della Telecom cerca di motivare i dipendenti incitandoli a vincere "come fece Napoleone nella battaglia di Waterloo" (video) - 3 aprile 2008

Gianfranco CARMINUCCI, TEORIA GENERALE DEI SISTEMI ECONOMICI, Autorinediti, 2007

[signoraggio] Che fare e perchè dobbiamo farlo - Giulietto Chiesa, 3-4-08
"Io voglio però sapere questo: che senso ha la politica oggi, se essa non può appropriarsi della sovranità monetaria? Ponendo il caso che la sinistra arcobaleno riesca ad avere la maggioranza (caso scolastico), cosa potrebbe mai fare, quali interventi potrebbe mai fare, essa o qualunque altra forza politica anche se teoricamente progressista, se non ha in mano le redini di una banca centrale?"

- Signoraggio: Zeitgeist con sottotitoli in italiano (video) a Rebus - Odeon TV, Venerdì 28 marzo 2008 e venerdì 4 aprile alle ore 21:30 (video della versione originale)
Rebus dedica ancora una puntata a "Zeitgeist" di Peter Joseph, trasmettendo i capitoli relativi all'11 settembre 2001 e al signoraggio. Il documentario è in lingua inglese con i sottotitoli in italiano curati da Luogocomune.net di Massimo Mazzucco


PRECARI, SISTEMA BANCARIO, SIGNORAGGIO, FEDERALISMO (video) - ANTONIO DI PIETRO, Asti, 29 marzo 2008

EU advisers back dilution of fair value accounting norms - Financial Times, 03 Apr 2008

INTERVENTO DELL'ECONOMISTA GALLONI [banche e bilanci] - AgenParl, 2 Aprile 2008

Nicola Bombacci, il socialista intransigente - Davide D'Amario, Rinascita, 3 Aprile 2008
Nicola Bombacci
Nicola Bombacci: Passione e rivoluzione - Beppe Niccolai, 14 maggio 1988

U.S. Senators Agree on Foreclosure-Prevention Bill - By Alison Vekshin, Bloomberg, April 2, 2008

Congressman Ron Paul Statement before the Joint Economic Committee Hearing on “The Economic Outlook” - April 2, 2008

Giving more power to the Fed is no reform - Gata.org, April 2, 2008

La stella a sei punte del capitalismo - Lorenzo Chialastri, Rinascita, 2 Aprile 2008

Fed Uncertainty Principle - Michael "Mish" Shedlock, April 03, 2008

Another two banks join mortgage market exodus - Rupert Jones The Guardian, April 3 2008

NY FED President Geithner Says Markets Still `Impaired,' Urges Action - By Craig Torres, Bloomberg, April 3, 2008
Geithner

BIG CLUB WALL STREET AS A REMAKE OF THE PLANET OF THE APES - By: economica, 3 April 2008

THERE IS A WAY THAT THE GOV. COULD BE INSTANTLY DEBT FREE - US TOO! - By: RMNMailbag, 3 April 2008

DIRGE FOR THE AMERICAN STOCK MARKET - By: Rayelan, 3 April 2008

MANY AMERICANS ARE NOW LOCKED INTO AN INVISIBLE MATRIX OR 'HOLDING PATTERN' - By: Ladyhawke, 3 April 2008

Will your tax dollars go to mortgage cheats? - Ernest Istook, WorldNetDaily, April 03, 2008

Banking industry to lose 200,000 jobs - CNNMoney.com, April 1, 2008
Financial research firm says cuts will appear over 12 to 18 months as subprime crisis hits other areas of the banking industry

Time To Reject the Big Lie - by John Hoefle, Executive Intelligence Review, April 4, 2008
The British are pushing the U.S. to bail out its financial institutions, protecting the parasite at the expense of the host. The result will not be stability, but hyperinflation, with the value of the dollar completely collapsing and taking the rest of the world economy with it

Who's Controlling Congress; When Will We Oust the Traitors? - by Nancy Spannaus, Executive Intelligence Review, April 4, 2008
The Congressional Research Service's memorandum purporting to analyze Lyndon LaRouche's Homeowners and Bank Protection Act, reveals that those advising Congress on this matter are ignorant, or lying, about the fundamental realities of the economy, the nation's history, and the Constitutional principles upon which the United States and its laws are based

The British Empire Is Up To Its Old Evil Tricks - by Helga Zepp-LaRouche, Executive Intelligence Review, April 4, 2008

Confidential Doc Warns Of Conflict Or Revolution For US - Wayne Madsen Report, 4-3-8

Market Tumbles on News That Bush Is Still President - The Borowitz Report, April 3, 2008
“Over the last few weeks, the markets have absorbed the news of the subprime crisis, the housing meltdown, and the Bear Stearns failure,” said Logan Teasdale of Citigroup. “But the news that President Bush is still president was too much for the markets to shrug off.”

JOBS: PROGRAM DIRECTOR – TRANSPARENCY AND INTEGRITY FUND, OPEN SOCIETY INSTITUTE – U.S. PROGRAMS Apply before before April 15, 2008

Une apparente incohérence - par Denis Robert, AgoraVox, 1er avril 2008
Une affaire personelle

"The North Korean Economy: Leverage and Policy Analysis," CRS Report, updated March 4, 2008

Economia e commercio a Bari, compravendita di esami all'università: in manette anche due docenti - Adnkronos/Ign, 3 apr. 2008

La tassa sui più poveri - Alfredo Recanatesi, L'Unità, 03 aprile 2008

[black hole] ECB pumps extra €35bn into banking system - The Wall Street Journal, 02 Apr 2008

Call of La Via Campesina for April 17th, International Day of Peasant Struggle
- Spectrezine, April 2nd, 2008

Summit conclusions illustrate widening gap between EU policies and real people’s lives - Spectrezine, April 2nd, 2008

Retired US general joins the ranks of a private equity firm - Cardiff de Alejo Garcia, Financial News, 02 Apr 2008
Private equity firm Behrman Capital has hired retired general Peter Pace as an operating partner after his term as chairman of the US joint chiefs of staff ended last year, according to a statement

The True Face Of The Dalai Lama - by Kalovski, rense.com, 4-2-8

04/02/08 - Insane Economic News of the Day - by The Mogambo Guru
"And as more Insane Economic News Of The Day (IENOTD), the Fed's personal stash of U.S. government debt is down another gigantic $48 billion last week! $48 billion! In one week! One freaking week!"

IN RESPONSE TO SHELBY COUNTY WOMEN & ASSOCIATES' REQUEST FOR INVESTIGATION INTO $29 BILLION HUD ALLOCATION - By John Eddie 'J. J.' Jones, April 1, 2008

04/01/08 - Financial Humor isn't Funny - by The Mogambo Guru
"Mr. Dunkelberg is more direct, and says that people who depend on their little bits of interest that they make on their saved money (like the elderly) 'are being screwed by the Fed'"

ALDO MORO: MARIA FIDA MORO, “RICORDARLO COM’ERA” È “UN DOVERE DI COSCIENZA” - SIR, 01 Aprile 2008






Petizioni

Shut Down The Federal Reserve System (sign the petition)
Costituzione italiana - Art. 1 [in lettere, per le banche: "articolouno"] La sovranità appartiene al popolo.
Petition: Transatlantic Seigniorage Dialogue - Petizione: per un dialogo Transatlantico sul Signoraggio


 

 

Appuntamenti


- AMI 2008 Monetary Reform Conference at Roosevelt University in Chicago, Sept. 25-28, 2008
- 314° anniversario del signoraggio il 27 - 7 - 2008
(anno sabbatico) - 314th seigniorage anniversary (anno Templare 890)

- Third International Conference on Islamic Banking and Finance: Risk Management, Regulation and Supervision, April 2008, Karachi Pakistan- CALL FOR PAPERS


ARCHIVIO NEWS

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2006
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2005
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Riassunto del Sistema

Qual'è il confine tra il disimpegno e la complicità? Tra l'inettitudine e la collusione?
Ron Paul 1979
DENNIS KUCINICH ON MONETARY REFORM (AUDIO)
I flussi internazionali del denaro - capitolo del libro "O LA BANCA O LA VITA", di Marco Saba, Arianna Editrice, 2008
I flussi internazionali

11 settembre, Torre 1 (Torre Nord): perché non è indicato il numero del piano degli uffici della CEDEL BANK poi diventata CLEARSTREAM BANK ?
911 Cedel Bank

La posizione della Mobil Oil Corporation in merito alla supervisione sulla Federal Reserve:
MOBIL Corp. on the Federal Reserve
"E si osserva anche ciò che meglio di ogni altra cosa può dare la misura della situazione attuale: il dilagare del "metodo mafioso" a tutta la società, la penetrazione progressiva del modello del ricatto, della minaccia, dell'avvertimento. La scomparsa progressiva della "giustificazione", che lascia il posto alla pura forza. Al fondo di ogni trauma, di ogni episodio di terrorismo organizzato, di ogni manovra di potere o di corruzione politica, scavando, si trova uno sportello bancario."
- Lombard, "Soldi Truccati", ed. Feltrinelli, 1980, pag. 11


U.S. Congressional Record - House, September 29, 1941:
THE NATIONAL DEBT

SPEAKER. Under previous order of the House, the gentleman from Texas [Mr. Patman] is recognized for 15 minutes.

WILL COST GOVERNMENT $100,000,000,000 TO PAY DEBT OF $50,000,000,000

Mr.PATMAN. Mr. Speaker, our Government debt at this time is approximately $50,000,000,000. By the time that is paid it will aggregate $100,000,000,000. When we talk about a debt of a certain size we should double the amount if we want to keep in mind what will actually have to be paid before the debt is liquidates. This amount of 100 percent is due to the interest charges. I am not opposed to individuals and corporations paying interest. They should pay interest for the use of money that they hire from other people, but when our Federal Government, that has the eexclusive power to create money, creates that money and then goes into the open market and borrows it and pay interest for the use of its own money, it occurs to me that that is going too far. I have never yet had anyone who could, though the use of logic and reason, justify the Federal government borrowing the use of its own money. For the first 125 years of our country's existence the national debt was small. It was only about $3,000,000 a year - very small. The interest charges amounted to a very insignificant sum, excepting during the War between the States, when the national debt ran up to twenty-five or thirty million dollars. But that was only for 2 or 3 years, and it was small in comparison. However, since the World War in 1917-18, our natinal debt has been large, and today we are paying at the rate of $1,300,000,000 a year interest on our Government obligations.

GOVERNMENT SHOULD NOT ISSUE INTEREST-BEARING BONDS

It is true that if we contract a debt we should pay it. If the Government sells bonds, the Government should pay those bonds. If the Government promise to pay interest at a certain rate on those bonds, the Government should carry out its obligations. It is not only wrong: it is extravagant. It is not only extravagant, it is wasteful. It is absolutely unnecessary. Two days ago Mr. Morgenthau, Secretary of the Treasury, was on the witness stand before the Committee on Banking and Currency on the price control bill. I asked him questions about this. It is in the hearings, commencing at page 1005. Mr. Morgenthau admitted in this testimony that if the Government were to issue $1,000,000 in bonds and sell those bonds which are non-interest-bearing and delivered those bonds to the 12 Federal reserve banks and received credit for them, that he, as Secretary of the Treasury, could then issue the same kind of checks against that money, and the people receiving the checks would receive the same kind of money as if he had issued a million dollars in bonds and sold them to the commercial banks of the country and agreed to pay the commercial banks a certain rate of interest. It would not increase the money supply one penny. Anyone who argues that it is inflationary does not know what he is talking about. It is not inflationary. It is not nearly as inflationary as our present system of selling bonds and paying interest as much as you pay principal.
I have in my possession a letter from the Secretary of the Treasury, Mr. Morgenthau, in reply to a letter I had written to him, I asked him how much the Government would pay in interest charges on the $758,900,000 4 1/4-percent treasury bonds that are payable in 1947 to 1952. His reply was that the amount would be about $967,700.000. Now, mind you, that is where we issued those bonds during the World War, amounting to $758,000,000, and we are paying in interest on those bonds, in addition to the principal, $967,700,000.
Now, take the Panama Canal bonds. They amounted to a little less than $50,000,000 - $49,800,000. By the time they are paid the Government will have paid $75,000,000 in interest on bonds of less than $50,000,000. So the Government is paying out $125,000,000 to obtain the use of $49,800,000. That is the way it has worked all along. That is our policy. That is our system. The question is, Should that policy be continued? Is it sane? Is it reasonable? Is it right or is it wrong? If it is wrong, it should be changed.

Mr. VOORHIS of California. Mr. Speaker, will the gentleman yeld?

Mr. PATMAN. I would rather the gentleman wait until I have finished. Now. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money, but now under our system we will sell bonds to commercial banks and obtain credit from those banks. We do not receive money form the bonds. The banks create credit, and, as Mr. morgenthau said in reply to my question, they create the money in that way, and they have already created $20,000,000,000 and bought $20,000,000,000 of Government bonds. Therefore, if we do not change that system we are, in effect, farming out the credit of this Nation and paying a bonus or tribute to people who do not have anything in the world to offer us. They have nothing to give us that we do not already have, and yet here we are paying over a billion dollars a year for the use of it.

IDIOTIC SYSTEM

I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue. I make that statement after years of study. I have talked to the Secretary of the Treasury and members of the federal reserve Board and other people who are supposed to know about the money system of our country. They know this can be done easily and conveniently, and it will save money; but their one reply is, "It will have a bad psychological effect." Well, I do not think it would have a bad psychological effect to save the people over a billio dollars a year of interest. I do not think it would. It would certainly have a bad effect on the people who are collecting interest on the Government's money.

FEDERAL RESERVE PRIVATELY OWNED

We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is, because it says "Federal Reserve."
It belongs to the private banks, private corporations. So we have farmed out to the Federal Reserve Banking System that is owned exclusively, wholly, 100 percent by the private banks - we have farmed out to them the privilege of issuing the Governemt's money. If we were to take this privilege back from them we could save the amount of money that I have indicated in enormous interest charges. We have today about $23,000,000,000 in gold. This gold is, of course, owned by the Government - title to it is in the Government. Many people say the Federal Reserve banks own it, but they do not own it. Congress passed a law saying that the right, title, and interest in and to that gold is in the Government, but for convenience and in order to carry out this present monetary policy, the Treasury has issued what is known as gold certificates and has turned over to the Federal Reserve banks these gold certificates. So today we hold about $23,000,000,000 in gold. Under the old system of issuing $2.50 in currency to every $1 of gold on the theory that a 40-percent gold base would always be safe, you could take that $23,000,000,000 of gold and issue two and one-half times that much money under our present system. This would amount to fifty-seven or fifty-eight billions of dollars that could be issued on that gold; and then the banks receiving the money could issue all the way from 7 to 10 to 1. You can thus see what a great potential threat of inflation is there if it were exercised, but it will not be exercised, because the people who have charge of the monetary system will not permit it to be exercised. The point I want to try to make is that the 12 Federal Reserve banks have in their custody these gold certificates which are used the same as gold, which are sufficient to more than pay off the entire national debt. I am not advocating that this be done quickly or suddendly. I am not advocating that any change like this be made quickly, for it would probably be disturbing to the country; but if the Government owned these 12 Federal Reserve banks, as it should - they shold be just as much a part of this Government as the Treasury itself - then eventually the national debt could be absorbed by them and this interest burden could be taken off our shoulders.


JESÚS HUERTA DE SOTO (in: MONEY, BANK CREDIT, AND ECONOMIC CYCLES, Ludwig von Mises Institute, 2006):
Until specialists and society in general fully grasp the essential theoretical and legal principles associated with money, bank credit, and economic cycles, we may realistically expect further suffering in the world due to damaging economic recessions which will inevitably and perpetually reappear until central banks lose their power to issue paper money with legal tender and bankers lose their government-granted privilege of operating with a fractional reserve.

scec

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