Tuesday, July 5, 2011

Our Debt Money System and an introduction to Bill Still

Bill Still, a writer/director and monetary reformist, produced a film in 1995 called "The Money Masters" in which he explains the history of banking and the problems we face today. More recently, Bill directed a film called "The Secret of OZ", which uncovers the secret hidden monetary message in L. Frank Baum's original work "The Wizard of OZ". If asked about who controls the quantity of money in our economy today, the vast majority of people would say the government, or that the Federal Reserve controls it but is a government agency. The reality of the situation is that the Federal Reserve is neither Federal nor a Reserve, is NOT part of the government but rather privately owned by member banks, and is a complete deception altogether. When the Federal Reserve act was passed in December of 1913, Congress was not in its normal session but rather on break for the holidays. Immeditately after it was passed the President of the United States admitted it was a mistake, and yet, nearly 100 years later, it is still here, manipulating our economy and fooling the public into thinking it is promoting economic growth. Every Dollar in circulation today, under the current system, is created as an interest-bearing debt. One of the many problems with this debt money system, and perhaps the most important one,  is that the interest can never be paid off. Every time a Dollar is created as bank credit, it is comes with interest that must be repaid with the principle. Let's call the Principle "P", and the principle plus interest "P+ I". Each time a deposit enters the banking system, banks are able, under the current fractional reserve lending system, to loan out many times that amount in bank credit, which is money created by banks out of thin air simply by entering key strokes on a computer.  A great illustration of this process can be found by watching "Money as Debt", which can be found in full on Google Video Here. The banks expect to be paid back P+I, but the problem is that only the "P" was created in the first place. In order to pay back the interest, new principle must be created. However that also comes with interest, so it becomes a vicious never ending cycle of debt creation. If this process of creating new to satisfy the old sounds familiar to you, it is because our monetary system today is very similar in nature to what Mr. Bernard Madoff committed, a Ponzi Scheme. The only differences being, this one is legal and on just a "little" bigger scale. For an introduction to Bill Still, please watch the video below:

Here is his latest movie The Secret of OZ:

and Here is his original film, "The Money Masters" (highly recommended)

In April 2011, I hosted Bill Still at my School to give a presentation to interested students and faculty. Here is the introductory speech I gave:

Hello everyone. First I would like to thank you all of you for coming this evening. My name is Chris Wallace and I am currently a junior at Bryant studying Finance. I first came across Bill Still’s work when a friend suggested I watch “The money masters”. Bill Still directed the money masters back in 1995. In it, he explains in detail the history of the United States monetary system. He illustrates how the banking cartel and the Federal Reserve helped private bankers regain control over our money supply and set the stage for the fraudulent monetary system we have today. Mr. Still predicted the economic crisis that continues to unfold before us. He described why this debt money system was doomed to plunge the country into an economic crisis that would not end until we addressed the fundamental issue at hand: Not what backs our money, but who controls its quantity. He explains that the only way out of this situation is to restore monetary power back to the people through their elected representatives in congress. Now let’s fast-forward to today. The world economy is suffering from the deepest economic downturn since the great depression. Many are talking about the “recovery” that began in June 2009. But what has changed? All that has happened is the authorities have thrown more money at the problem to try to sustain our unsustainable debt ponzi scheme. We are in a depression, and it’s not going to get any better until we address the fundamental problem at hand. The good news is, with enough help and support; we can do something about it.  I have invited Bill Still here today because I have hope that people will latch on to these essential principles of sovereignty to explain what needs to be fought for and the ways in which we as a sovereign nation can do it. With enough support, we can fight to put an end to this debt money system and finally free ourselves from the debt shackles that currently enslave us and put authority to create money back in the hands of the sovereign nation; by the people and for the people. Ladies and Gentlemen, Please help me in welcoming Bill Still.

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