Wednesday, November 6, 2013

Jason Erb- Exposing Faux Capitalism

I did find this interview extremely enlightening. So much so I listened thrice! ;-)
And thanks to Henrik at Red Ice Creations for providing this interview for us all to enjoy
Jason Erb joins us from Ontario, Canada where he started the website Exposing Faux Capitalism during the global financial collapse in 2008. We'll hear about a number of topics such as the history of the monetary system, credit default swaps, debt based currency and compound interest. Jason explains how the currency system is run by belief, confidence and control of information but nothing is there to back it up.



Jason hails from my neck of the woods. So, Hey, neighbour!
He seems to have a good grasp on the monetary issues. His blog is now included in the blog roll.
During the interview he touches on some of the very topics previously mentioned here.
Share some thoughts on the interview

 A few relevant flashbacks: 

Pt.1: Giving Canadians and everyone, everywhere a Cypriot Style Haircut- "to the wood"

Pt.2: Giving Canadians and everyone,everywhere, a Cypriot Style Haircut- “to the wood

 Victoria Grant explains the scourge of private central banking

 Canada- "secret" bank bailouts? Canadian Bank scandals?

 40 percent (average) of the cost of everything is interest- Usary, baby, usary!

3 comments:

  1. That's a good talk, Pen. Jason is very correct in making the distinction between Free Enterprise and Capitalism. They are, in fact, opposed to each other.

    One thing that was not made clear is that 'Fiat currencies' aren't backed by nothing more than thin air. They are, in fact, backed by the value of everything that can be bought with the currency. So the people who produce the goods give the currency its value and therefore the people should own and control their currency.

    The other thing that gives a currency enduring and stable value is the control of the issuance of that currency. Jason is absolutely correct there. This is controlling the Money Supply, in other words. If the amount of the currency is increased over and above the value of the amount of new goods that can be bought with it, inflation will come into play to increase the dollar value of the goods to match the amount of money available to buy this production. The Money Supply (M) should match Gross Domestic Product (GDP) M=GDP

    The other thing is that a fiat currency is not dependent solely on peoples perspective of its value, as Jason says. So he is only partially right in saying that. When a govt demands payment of taxes only in its own currency, the govt thereby gives it solid value. People have to get it to pay taxes and avoid jail or other punishments. That's quite an incentive.

    The American banks should have been nationalised during the banker induced Global Financial Crisis. A banking system is an infrastructure system and we are all dependent on it. It should therefore be owned and controlled by the people through their govt and not be in the hands of private individuals to exploit the rest of society with - Self Preservation 101

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    Replies
    1. Hey James

      since blogger ate my first response....
      grr...

      I thought it was a good talk too. Jibed with much of my knowledge on the subject
      I liked that Jason explained that money is a medium of trade
      Because that is how I see it
      Or like the life blood circulating about the living society..
      If money is circulating freely in a balanced manner we have prosperity
      If the money is being held tight or in the hands of the elites it is not sustaining the society

      "The other thing is that a fiat currency is not dependent solely on peoples perspective of its value, as Jason says. So he is only partially right in saying that. When a govt demands payment of taxes only in its own currency, the govt thereby gives it solid value."

      I think he does address that topic where he says the government gives the banks a monopoly on the money- they issue and benefit from the issuance of currency, due to the backing of the government, which gives the people the confidence to use the currency.

      And the extraction of taxes is of course a incentive to get money, in order to avoid jail
      Then on the other hand the incentive to get money via means deemed 'illegal' such as the non state sanctioned theft of money through taxation, will also land one in jail
      Where your labour value can then be exploited for profit,but, that is a story for another day..
      And yes I agree banking is a basic societal infrastructure system that should be owned and controlled by the people for the benefit of the public
      And usury should be criminalized

      Delete
    2. Then on the other hand the incentive to get money via means deemed 'illegal' such as the non state sanctioned theft of money through taxation, will also land one in jail

      Let me clarify this statement:

      Then on the other hand the incentive to get money via means deemed 'illegal' opposed to the state sanctioned theft of money through taxation, will also land one in jail

      Hope that is better?


      Delete

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