LDS Freedom Forum

davedan wrote:i think we are in agreement. Money needs to be backed by assets with real value
And banks should operate on FULL RESERVE LENDING.

I would just add that loans should be available no-interest and we should cut out the money middlemen and let local banks access capital from the US Treasury directly.

In the system that I am describing, money is backed by assets, commodities, and gold. Cash that is printed is backed by gold, silver, platinum, etc. Money that is lent is backed by the non-depreciating asset (land, realestate) it is being used to purchase.

In this system there is no making money from money. There rests thee inequality with our current system. Those with capital can use it to gain advantage over others.

Amen

hilonesome wrote: I surely do not see how Capitalism in and of itself can be evil - people who are full of envy and jealousy make it so.

Look, it all depends on how we define the term "capitalism" If you are talking about property rights, and free enterprise, then I am all for that.

But if you are talking about how we practice fractional-reserve banking, , usury, using money to leverage economic and political power over others, and the consolidation of power o the hands of corporate elites, then no; I am not for that.

If we want the free market to work, then lets start up the Safety Society System and let it compete against the other guys. Lets get this idea in the ring and watch it kick boody.

How free is our central-banking controlled banking system if an idea like mine can't be instituted and compete? What kind of free market is that?

davedan wrote:

hilonesome wrote:
But if you are talking about how we practice fractional-reserve banking, , usury, using money to leverage economic and political power over others, and the consolidation of power o the hands of corporate elites, then no; I am not for that.

I think that lending money for a fair return is fine and would not label it as usury since the lender is taking a risk. However, its the definition of those words "fair return" that creates differences of opinion. Credit card rates that some people are enslaved too, like 29% are indeed hideous and should be unlawful. Most other rates are based on bonds or indexes such as the LIBOR and are dictated by market forces which are complex as we all know.

I guess perhaps the long and short of it is that the complexities of the system are not going to allow the kind of change your thinking of happen without the reset button being hit. Just guessing but perhaps we've hedged ourselves in.

There is no doubt of corruption that has built such a system but I fear there are those out there that would even do away with free market and opt IN for a system that takes away freedoms to create and speak and earn as best we can.

Good thoughts guys thanks