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Is there truth to this Henry Ford quote about our banking system?
Posted on 12/1/22 at 8:48 pm
Posted on 12/1/22 at 8:48 pm
I've often wondered something like this. We are basically well fed slaves with cheap goods from China. People don't realize their labor and property has no real value backing it up, and only exists because the US government says it does.
20
Posted on 12/1/22 at 8:49 pm to burger bearcat
Probably
Posted on 12/1/22 at 8:52 pm to burger bearcat
Posted on 12/1/22 at 8:53 pm to burger bearcat
Our entire country is held up by fiat Monopoly money, that can be printed at will by those who control the machines.
This has never made any sense to me. It's bound to collapse.
This has never made any sense to me. It's bound to collapse.
This post was edited on 12/1/22 at 8:54 pm
Posted on 12/1/22 at 9:02 pm to Paddyshack
quote:
Our entire country is held up by fiat Monopoly money.
Money is simply a way to facilitate bartering. It's been a far more efficient medium than shiny rocks or shells for a long time.
Posted on 12/1/22 at 9:05 pm to oklahogjr
quote:
Money is simply a way to facilitate bartering. It's been a far more efficient medium than shiny rocks or shells for a long time.
Yeah, I know what it is. And it hasn't been worth anything since 1971.
Posted on 12/1/22 at 9:08 pm to burger bearcat
The quote is not included in any of his published papers. Ford died in 1947, and the quote never appeared in print until 1957.
You be the judge as to the likely authenticity of the “quote.”
You be the judge as to the likely authenticity of the “quote.”
Posted on 12/1/22 at 9:29 pm to burger bearcat
It’s been that way ever since we were moved off of the Gold Standard. Now it’s measured by petroleum.
What happens when we’re all driving EV’s and we have windmills and solar panels (sarcasm)?
What happens when we’re all driving EV’s and we have windmills and solar panels (sarcasm)?
Posted on 12/1/22 at 9:31 pm to Paddyshack
quote:
Yeah, I know what it is. And it hasn't been worth anything since 1971.
all we did in 1971 was eliminate the shiny rock backing of the dollar as unnecessary.
Posted on 12/1/22 at 9:33 pm to burger bearcat
Everything took a turn in 1912.
Posted on 12/1/22 at 9:35 pm to gmac8604
When thy Olympus sank to the bottom of the ocean, instead of the Titanic, thank you JPMorgan.
Posted on 12/1/22 at 9:36 pm to oklahogjr
quote:
Money is simply a way to facilitate bartering. It's been a far more efficient medium than shiny rocks or shells for a long time.
If only the US monetary system were this simple and innocent….lol
This post was edited on 12/1/22 at 10:51 pm
Posted on 12/1/22 at 9:40 pm to burger bearcat
From Henry Ford:
quote:
The people are naturally conservative. They are more conservative than the financiers. Those who believe that the people are so easily led that they would permit the printing presses to run off money like milk tickets do not understand them. It is the innate conservation of the people that has kept our money good in spite of the fantastic tricks which financiers play-and which they cover up with high technical terms. The people are on the side of sound money. They are so unalterably on the side of sound money that it is a serious question how they would regard the system under which they live, if they once knew what the initiate can do with it.
Posted on 12/1/22 at 9:42 pm to burger bearcat
I know I never understood monetary policy, the Fed, or Austrian economics until the Ron Paul presidency.
I then went to the Mises institute, read Rothbard, Road to Serfdom, Atlas Shrugged, The Creature from Jekyll Island, and others.
It set forth a self-driven crusade for like 7 years where I preached to anybody and everyone about this system, and how we’re all suckers.
Then, I had to grow up at the ripe age of 30, and now I am part of the system. I still speak out against it, but infrequently and in close company.
It is frustrating, and I truly believe the avg American can grasp monetary policy, but it’s not readily exposed to us for a very valid reason.
I then went to the Mises institute, read Rothbard, Road to Serfdom, Atlas Shrugged, The Creature from Jekyll Island, and others.
It set forth a self-driven crusade for like 7 years where I preached to anybody and everyone about this system, and how we’re all suckers.
Then, I had to grow up at the ripe age of 30, and now I am part of the system. I still speak out against it, but infrequently and in close company.
It is frustrating, and I truly believe the avg American can grasp monetary policy, but it’s not readily exposed to us for a very valid reason.
Posted on 12/1/22 at 9:44 pm to oklahogjr
We've all but made it digital currency at this point. Most don't deal in paper $$ anymore. It's credit/debit cards, and electronic transfers.
Posted on 12/1/22 at 9:46 pm to burger bearcat
Bank opens, uses your money, lends it out and profits while charging you and others for their service.
Posted on 12/1/22 at 9:46 pm to burger bearcat
No
Posted on 12/1/22 at 9:52 pm to BamaCoaster
quote:
know I never understood monetary policy, the Fed, or Austrian economics until the Ron Paul presidency.
I then went to the Mises institute, read Rothbard, Road to Serfdom, Atlas Shrugged, The Creature from Jekyll Island, and others.
It set forth a self-driven crusade for like 7 years where I preached to anybody and everyone about this system, and how we’re all suckers.
Then, I had to grow up at the ripe age of 30, and now I am part of the system. I still speak out against it, but infrequently and in close company.
It is frustrating, and I truly believe the avg American can grasp monetary policy, but it’s not readily exposed to us for a very valid reason.
The fiat monetary system is designed for those who have initial/first access to the freshly created money….if you can understand what happened during and after the Financial Meltdown of 2008/2009 then you can understand how the Federal Reserve working with their government and banking partners use monetary policy to facilitate wealth transfer from the middle class to the well connected.
This post was edited on 12/2/22 at 8:17 am
Posted on 12/1/22 at 10:31 pm to Paddyshack
quote:
Our entire country is held up by fiat Monopoly money, that can be printed at will by those who control the machines.
This has never made any sense to me. It's bound to collapse.
Yep.
Been this way for 100+ years since the estblishment of the Federal Reserve system.
The longer the house of cards is propped up, the more catastrophic the collapse will be.
At this point it is inevitable.
Posted on 12/1/22 at 10:43 pm to BamaCoaster
As cliche and annoying as it is to constantly hear.
Bitcoin is the answer. But people just want it spoon fed to them via exchanges and surprise surprise surprise! FTX ain't a unicorn folks.
Not your keys, not your bitcoin. Self custody. Work within the bitcoin ecosystem when possible. frick fiat. Laugh at Fauxcahontas in satoshis.
Bitcoin is the answer. But people just want it spoon fed to them via exchanges and surprise surprise surprise! FTX ain't a unicorn folks.
Not your keys, not your bitcoin. Self custody. Work within the bitcoin ecosystem when possible. frick fiat. Laugh at Fauxcahontas in satoshis.
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