It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
I recently read a debate between Edward Griffin (author of The Creature From Jekyll Island) and Bill Still (creator of the documentaries, The Money Masters, and The Secret of Oz). The debate concered two polar opposite ideas:
1. Using an economic system based on 100% Gold Reserves (Griffin)
2 Using an economic system based on a Government issued medium of exchange. (Still)
Griffin's argument www.freedomforceinternational.org...
Stills rebuttle www.secretofoz.com...:response-to-ed-griffin
I would greatly appreciate it if I could read what people from this forum think. I'm undecided on where I stand when it comes to the question of "What happens when the international bankers own most of the gold? Couldn't they manipulate the price, thereby still keep the common man in slavery?"
Originally posted by Vinterzorg
An alternative to this is a zero reserve. Why would reserves be needed in the first place since money is created out of thin air?
Public credit is the solution. You go to a public institution and borrow money the same way you go to a public libray to borrow a book. Return it when you're finished.
This wouldn't be inflationary, because the money goes back where it came from. The difference is that money would always be available to anyone who demonstrates credit-worthiness regardless of the market or any artificial manipulation of interest rates.
This would work on a zero-interest principle, since compound interest eventually devours everything. The employees of the institution would get their paychecks either through a fee paid by the borrower, or have the money created for them to do their jobs.
Instead of banks being beholden to their stockholders, and always in business for a profit, they would be created to serve the interests of the public at large.
This is a plan proposed by Ellen Brown (Author of Web of Debt) which I think is better than anything else I've heard.edit on 10-3-2011 by Vinterzorg because: additional info