Comments on: The $750 Billion Global Meltdown

By: Ray Pinkerton

Ray Pinkerton — Wed, 10 Mar 2010 10:50:21 +0000

I was recently sent an email prospecting for a company selling gold and silver. They had an excellent video where various well known experts were discussing the monetary system and how GW Bush’s actions early in his administration set the scene for the global crisis. Basically there is nothing of value backing cash. The money in the system is determined by the Reserve Bank who can create money at the push of a button and the rolling of the printing press. Money comes from nowhere and can disappear back to nowhere. The only value in cash comes from peoples belief in the value. I really can’t understand why governments don’t directly control the monetary system rather than leaving it to the banks.

By: Ray Pinkerton

Ray Pinkerton — Wed, 10 Mar 2010 10:45:27 +0000

That girl and her group wrote a most powerful speech and her presentation to the UN was incredible. I hope she made the delegates start really thinking about what they are doing (or more likely not doing) to make the world a better place.

And you are totally right about the US bailout of the banks. Australia did sort of take the approach you advocated. The government did give money out to the citizens rather than just the banks. And now in March 2010 Australia seems to have come through the crisis stronger than any other economy.

By: Renee

Renee — Tue, 09 Mar 2010 11:37:18 +0000

Hi Sean,
great passionate post – straight on the mark. I am always amazed by us humans and how difficult we make life for ourselves and other people around us. Banks are an invention by humans, money as well. And if I remember correctly the intention was to make our life easier, not to ruin people en masse.
One problem with humans is that the older we get we should become wiser, but we tend to forget our intuition amongst all the rules we learn along the way. And most of us don’t dare to have their own opinion anymore (like Severn) but say as the others say as it is easier.
Thanks for speaking up – and I am happy to live in a democracy where I can speak my mind, even if others don’t agree!
Renee´s last blog ..Overcoming Procrastination

By: Jazz Salinger

Jazz Salinger — Mon, 08 Mar 2010 09:52:37 +0000

Hi Sean,
Wow! What an amazing post. I feel embarrassed to say I’m pretty ignorant of how Governments and banks handle our money. I want to learn more about this. Your post has motivated me to become more aware of what is actually going on in the world.
The speech by Severn is incredible. I can’t believe she is only twelve. She is so young and yet so wise already. Her father is right. We are not what we say; we are what we do. I am determined to do better. We owe it to each other and our children.

By: SU YURE

SU YURE — Sun, 08 Feb 2009 15:42:54 +0000

JUST IMAGINE…
I am not for sure on the math…( I could not find a calculator that would go up past 750,000,000,)…
but, here goes…
How about printing up the 750 billion and either giving every one in the USA 2.5 million / or giving every one in the world 1 hundred thousand.
Of course we would not have the welfare system, Medicare, Medicaid, social security, pension plans, retirement plans, and a bunch of other plans that are draining the system. There would also be a problem with immigration if we keep it all to our selves. And you know that some would use the monies to buy lottery tickets and blow the whole thing..
SO, no more lottery… Those that spend it foolishly would in turn be required to take responsibility for their actions and some would turn to stealing and other illegal action. We have that now any way.. I believe that those that have a passion for their work would remain working and others would fill in the gaps rather than stealing.
I could go on but I will let you play this out in your own mind.
At the very least I think it would be a world wind party, even for those that already have lots of money and really do not need more.
JUST IMAGINE…