Saturday, June 05, 2010

Stop Giving Satan the Gold

The Following is not LDS Doctrine:

In my opinion, our current economic banking, lending and monetary system violates the Constiution and is bankrupting and enslaving the world through a corrupt system of fractional-reserve lending and inflation- and class-causing amortized loans. According to the Constitution Article, 1 Section 8, the Federal Government is given the power to coin money and to regulate its value. However in our current system of fractional-reserve banking, mega-banks create near 90% of the money out of thin air.

Anyone who thinks the current system is just fine because they think "I could turn around and sell my house tomorrow and I would already have $30,000 in equity" is not thinking about the next family that will buy that house. How is the next family going to afford a house that is 5 years older but $30,000 more expensive. In the following post at Brain Bender I explain again the current Fractional-Reserve Banking system and I suggest an alternative Full Reserve Banking solution that would take the power away from the corrupt globalist/ new world order elite. Doing away with the FED alone is not enough if the instruments of oppression remain in place.

We need to stop giving up all our gold and silver to the agents of Satan who are using our our money to buy up armies and navies, fund false priests, and sustain destroying tyrants who reign with blood and horror upon the Earth.


ldsanarchy said...

The problem is that no one has any gold or silver to give, only debt. Here's the answer:

The problem

The solution

LDS Anarchist

David B said...

I am somewhat convinced that at some point the globalists will make it illegal to possess gold and it will be confiscated as well as weapons.

I am not sure about silver. If I had the choice, I may get a few thousand in silver as I am sure the Dollar is going bust. But I would not angry if silver is confiscated along with the gold. The Denver airport has both an AuAg symbol which suggests the globalists are not ignoring silver. However, the Bible does say the currency of Israel will be the silver sheckle of Tyre.

Currently, there are retirement plans that guarantee 4% no matter what happens with the market. I actually think gold is overpriced right now and so maintaining the value of things is fine with me. Everyone on the radio is telling us to buy gold, so that is the last thing I think I want to do.

David B said...

To the last poster: I am not sure why you want to defend fractional-reserve banking. The Bible teaches "thou shalt not lend upon usury to they brother" (Deut 23:19). Usury is bondage according to LDS scripture.

Fractional-reserve lending is not American. I don't necessarily have a problem with a national bank, but I don't see why state and local banks can just borrow from the US treasury directly. The FED is not a national bank, it is a private bank that is no more national than Federal Express.

Also, I don't agree with violence, but I can understand why Aaron Burr challenged Alexander Hamilton to a duel.

Anonymous said...

If by usury you are implying that charging interest is sinful, then you need to blast a whole host of general authorities who have run financial institutions (Elder Christofferson most recently).

Even better, how about blasting the church itself? It is a significant shareholder in Zion's Bank (it was the majority shareholder until the 1960s). In fact, President Monson just dedicated a building last month for Zion's Bank in Provo.

As to the Federal Reserve, it was established by Congress and, even today, regulated by the federal government. It has private shareholders but it is run by folks appointed by the President.

On another note, Joseph Smith, when he ran for President in 1844, specifically advocated for a strong, national central bank like the Fed.

David B said...

I don't mind a strong national bank. The FED is not federal but private. If you want to get my opinion on an alternative banking system than please read my other blog and an explanation on how full-reserve banking would work.

David B said...

Nice appeal to authority. Please, try again to defend fractional-reserve banking.

I never said I was against a national bank. The Constitution says the Congress can coin the money. The FED is not federal #1, and #2 due to fractional reserve banking the banks end up creating most of the money.

Just because Congress improved the Federal Reserve Act doesn't mean they couldn't replace it.

David B said...

The FED promised to prevent inflation and preserve the value of the dollar. Since the FED, the dollar has lost 90% of its value.

Anonymous said...

David, the reason I pointed out the LDS church's involvement in banking was because you were claiming interest charging was Satanic. Given the church's involvement in Zion's and other interest-charging institutions (I have a Zion's credit card and it is fair to say that the interest is high), your argument would imply that the church supports Satanic activity.

That is absurd of course. Interest is part of modern society. Ancient societys had a different take. Most modern scholars argue that the key is excessive interest.

But, to push the idea that interest charging (while unpleasant when paying) is somehow involved with darkness is overreaching.

Now, fractional reserve banking simply means that a bank can loan more than it has on deposit.

That makes sense because folks don't withdraw their money at the same time.

It allows more lending, which means more credit is available.

Doing away with fractional banking means eliminating 70-80% of the credit available in the U.S. economy. Certainly, consumers could borrow less. But, most of the reduction would be in business credit which means far less money available for businesses to invest in capital equipment and other endeavors.

Now, as to the decline in value, perspective is important. Your assumption on the value of money is that the U.S. had stability before the Federal Reserve came into place. Simply wasn't so. The entire 19th Century was marked by tremendous swings in inflation and deflation. When you link monetary value to a commodity then your economy has to deal with huge swings when that commodity swings. That is what happened as gold was discovered (drove down the value of money) or demand increased (driving value of money up).

William Jennings Bryan ran for President in the late 1800s decrying that system because of the damage those swings did to farmers and small businessman.

I certainly don't believe the Federal Reserve is perfect. They make mistakes. But, they have -- overall --- helped minimize swings in the economy compared to what happened the previous century.

Anonymous said...

I need to circle back on the claim the Fed is not federal.

It is a government sponsored institution.

Every federally-chartered bank is required to join. But, control rests with the Fed directors appointed by the President and approved by the Senate.

The whole reason for the structure was to minimize political influence on the money supply. This is an issue modern societies have struggled with. Relying on Congress to print money means that every time a Congress gets pressed for funds, it will print more. That triggers inflation.

That same process is why Germany had hyper-inflation in the 1920s. The US had similar issues repeatedly in the 1800s.

Some one has to make the decision on the money supply. The Federal Reserve is a mechanism to minimize political influence. It is not perfect. But, it does generally work.

David B said...

I don't think we can have a productive conversation on this issue because you are still asleep, as I was, to reality.

The banking instabilities of the 19th Century were triggered by purposeful contractions of the money supply by the Bank of England like after the San Francisco Fire for example or by dumping silver on the market.

In fact, Ben Bernake spoke at Milton Freedman's 90th birthday and admitted that he was correct all along that a contraction of the money supply by the FED had caused the Great Depression and not protectionism which FDR claimed. Bernake said "Your right, we did it, and we are sorry".

So, how about that for the FED. They admit causing the Great Depression, they have devalued the currency by 90%, and they purposefully stopped releasing M3 data in 2006 which his the massive expansion and contraction that occurred right afterwards resulting in the current financial crisis.

Our currency and country is on the verge of complete financial collapse and you are trying to argue that the FED has done a good job for the most part?

David B said...

Really if you want to understand what the FED is all about you need to read "The Protocols of the Learned Elders of Zion". And be aware this document is written by a Scottish Rite Mason despite Hitler using it inflame antisemitism.

David B said...

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson

Having a central bank would be stabilizing and efficient just as having a king would be efficient, if we could guarantee that a righteous person would always do the job. The problem with the consolidation of power to unelected individuals is the potential for corruption. This is the lesson of the Tower of Babel.

Corruption hasn't been any more apparent than the whole derivatives system championed by Alan Greenspan. he promised that derivatives/CDOs/MBS would stabilize the markets. Instead all we see is manipulation.

According to the "Protocols" the conspiracy would cause inflation and savings which would be "speculative". Because the rich elite would control the markets and cause depressions by contraction of the money supply, money would become slippery and fall into their hands.

Remember how wealth became slippery in the Book of Mormon? Interesting that the "Protocols" would use the same term.

Anonymous said...

Pray tell David, you are not seriously quoting "The Protocols . . of Zion"?????

That is an utterly infamous forgery, generated in Czarist Russia. The source probably was the Czar's secret police. The Wikipedia article is actually pretty good.

David, it sounds like you've stumbled into some of the old conspiracy material.

From the flavor, I am guessing Cleon Skousen's "The Naked Capitalist" and Gary Allen's "None Dare Call It Conspiracy".

These pieces of trash focus on the so-called bankers conspiracy. Both were plagiarized from book by a professor that does not indicate any of the major claims. There is a great article here. I assume that is the source of the Bank of England material.

The Federal Reserve is a tool. It is one that makes mistakes, sometimes egregious. But, it is a tool that does have some value. Milton Friedman, who I deeply admire, supported the Fed but believed its goal needed to be monetary stability, not economic stability.

Also, the 90% argument needs to be dealt with. Virtually any currency depreciates over time. You are indicating inflation of 10x over 100 years. The U.S., before the Fed, experienced those levels in the 19th Century in periods as short as a couple decades.

David, I am concerned for you. This dark conspiracy stuff is really dangerous. Much of it is anti-semetic. Most of it is simply false.

But, the biggest damage is caused by the feelings of helplessness and despair it triggers. Don't go down that path.

Anonymous said...


I was disturbed by the Woodrow Wilson quote.

It felt wrong. Wilson was very arrogant and I couldn't imagine him ever confessing to anything.

A quick search reviewed that the quote is a fraud. It was spliced by another fraud, Aaron Russo (he did a joke of a movie called "Freedom to Facism").

He took several Wilson quotes on different subjects and wove them together.

The first two sentences are complete fabrication, never uttered by Wilson. The remainder is mostly from Wilson but altered completely out of context.

Be very careful on sources . .

David B said...

Interesting how I never get comments on my blog until I talk about money.

I am well aware the background surrounding "the Protocols of the Learned Elders of Zion". I am aware they were falsely ascribed to the Jews. I actually don't care who wrote them. What matters is they represent a conspiacy of pur evil and that conspiracy is being implemented to the letter.

That said, I invite you to actually read them for yourself and realize that everything described in the "Protocols" has been put in place.

David B said...

I am sorry you haven't read anything I have already written on banking. Milton Friedman endorsed a full reserve bankIng system. It is fractional reserves that cause banks to fail. When stocks tank, banks loose their fractional reserves and cannot lend. This was precisely the cause of the most recent banking melt down.

Imagine if state and local banks could go to the US Treasury and borrow whatever money they wanted or needed based upon their ability to repay. And imagine that the US Treasury collected 5-10% fee and no interest on all the money created and borrowed instead of just getting prime interest on a fraction of the money created. We wouldn't need an income tax or any other tax. We wouldn't need stocks and bonds either.

Imagine if local banks do what they do now and charge a fee to service these personal and business loans on behalf of the US government. Imagine that instead of an inflation-causing amortized mortgage, a home buyer brings 10% and the admin fees to the bank and becomes a part owner with the bank of the asset. The borrower pays down principal imediatetly. If a payment is missed, then principal is deducted as rent by the bank. Default and repossesion doesn't occur until a person loses all ownership in the asset.

David B said...

The whole lesson of the tower of babel is that consolidation of power leads to corruption. God said. Look the people are all one. They had the same language, religion, culture, and government. So God split them up using some divine anti-trust legislation.

The monolithic conspiracy has knowingly sewn teres in with the wheat in many aspects of American goverment and culture to convince us that we need bigger goverment to protect us from big business, and big banks to protect us from market instabilities which they manipulate.

The real answer is to do what God did break up the consolidation of power in government, business and banking.

Anonymous said...


The Protocols is simply a fake.

Do you honestly think that Jewish leaders --- in the 19th Century --- got together to plot against the world?

There were never such meetings.

The whole document is a fictional document designed to stir hatred against Jews.

It was used by Hitler to justify the Holocaust. It was used by the Czarist police to trigger pograms in the early 20th Century. And, recently, it has been used to inflame the Arab world.

It is a shameful, hateful document.

It must be denounced, not embraced as having some kind of credibility.

As to the so-called conspiracy (or conspiracies), none of this has any real basis in any form of reality.

I noticed in another one of your postings that you believe 9-11 was part of the conspiracy. Are you referring to the BYU professor's theory --- that got him fired?

I also saw a bit that because there is concern about terrorists and nuclear weapons, that it must be plot by the government conspiracy to nuke one of our cities.

This is seriously off base.

Many government officials are incompetent boobs. Many corporate leaders have poor judgment.

But, there is not nor has there ever been any global straddling, all-powerful conspiracy.

There are simply not that skilled.

Buck up. Obama's popularity continues to crater. The Democratic neo-socialists are on the run. The great thing about the U.S. system is that our politics may swing one way for awhile but they shift the other way given time. The swing is now in process.

Our future is bright. The rest of the world is rapidly aging, especially Europe, China and Japan. We are still the most dynamic, innovative economy on the planet.

We live longer and wealthy than an time in our history. We spend too much but even that is starting to swing worldwide.

Thirty years ago, the idea of personal computers and personal phones would be inconceivable. Thirty years from now our kids will be living on the Moon, taking an orbital shuttle to Australia, bringing huge minerals stores to Earth from asteroids, engaging in jobs that are now inconceivable, laughing at today's global warming scare, etc.

Like President Hinckley, I believe mankind's best days are ahead, not behind.

David B said...

1. I don't care if "The Protocols" are fake or who wrote them. The reality is the plan specified in "The Protocols" is and has been implemented.

2. "Do you honestly think that Jewish leaders --- in the 19th Century --- got together to plot against the world?"

I clearly said in a previous comment that Hitler used the document to scapegoat the Jews. I understand the Jews didn't write it. I really don't care who wrote them. The signer of the document btw is not Jewish but Scottish Rite 33o Mason. The real issue is that the plan detailed in the document is being implemented.

3. "But, there is not nor has there ever been any global straddling, all-powerful conspiracy. There are simply not that skilled."

The incompetence is by design. I do not underestimate the enemy. I believe JFK's warning about the great "monolithic conspiracy". I believe Pres Benson when he said that "all is not well in Zion". I believe Elder Bednar and the Doctrine and Covenants that there will be conspiring men in the Last days. I believe the Book of Mormon when it warns of a great conspiracy in the Last Days that will seek to overthrow the liberty of all nations. (3Ne8, Ether8).

4. " The great thing about the U.S. system is that our politics may swing one way for awhile but they shift the other way given time. The swing is now in process."

Wonderful, now that the Dems got socialized healthcare passed, we can vote in the hawkish Reps who will take us to war with Iran.

5. "Like President Hinckley, I believe mankind's best days are ahead, not behind."

Speaking in positive terms doesn't make what you are saying true. I am very optimistic about the future, I am confident that people will wake up to reality and Christ will hasten his return.

But make no mistake, the globalist conspiracy meet yearly at g20, bildeberg, and bohemian grove and if we allow them to carry out their plans, Christ in the Bible warns, there will be no flesh left upon the Earth.(Matt 24:22).

I hear the trumpets sounding.