| > War and debt are bedfellows. Because fiat enables them to be as much. If you can print money, you don't need public consent to go blow people out of the water, nor to justify obscene spending on the military. Every war the U.S. has been involved in since Vietnam has been a banker war, not a state war. What's reductive and anti-intellectual is deluding people into believing that giving the government (or even worse, "economists" or central bankers) authority over their wealth is, somehow, going to multiply or protect it when we have ample examples to the contrary. To your point, governments historically are evil and inflation is bad (it's arguably an inherent property of government as you're giving absolute power to the unproductive class). The idea that it's not (MMT) is the rationalization of a failed economic strategy that's put everyone's well-being in the crosshairs. The idea that any of that is untrue is a result of unrelenting propaganda and indoctrination (or, in certain cases, someone who has directly benefited from the scheme). Any way you shake it, to think that what's happening isn't the result of malfeasance is denial, wholesale. Mayer Rothschild codified the potential for this way of thinking with his Economic Inductance theory: > Currency, or deposit loan accounts, has the required appearance of power that could be used to induce people into surrendering their real wealth in exchange for a promise of greater wealth (interests). When applied gradually, the public adapts to its presence and learns to tolerate its encroachment on their lives until the pressure (psychological via economic) becomes too great and they crack up, depending on their resilience capacity. Flip on the television if you need insight into what people do when they "crack up." |
All inflation is bad is a highly reductive argument. It is much more complicated than that and most economic models indicate that a certain amount of inflation is a good thing for overall growth. This is why, in the US, the Federal Reserve targets 2% inflation. There are a lot of positive effects to inflation and trying to control it so that it grows moderately is a good thing. There are decades of research as to why this is the case even though I suspect it won't sway you I suggest you try reading it if you are seriously interested in educating yourself about what you're talking about.
Do I believe the current economic conditions are the result of a scheme among elite bankers? No. A conspiracy involving more than two people is not sustainable and not a conspiracy. Financial regulation is managed in most Western countries by democratic representation. In the US they created the Federal Reserve system. If you want to see what they get up to they publish their board meeting notes, research, reports, results of votes, etc. It's open information.
If Americans have a problem with the system they're free to vote for representation that will introduce laws that will change the way the Federal Reserve is run... although in my experience very few people even know what the Fed does or that they have a website.
I don't need the thought experiments of a long-dead banker who didn't live to see the formation of the Federal Reserve. The quote you're citing is antiquated. Banks today don't make money on deposits like they did in this Rothschild's day and people aren't worried about runs on a bank's reserves anymore.
Although if they're invested in crypto via Tether or any other stable coin they ought to be.