...Alaska, which in turn would pay profits back to the great State of Alaska. Profits to Alaska instead of bigwig bankers on Wall Street. Not a new idea. The public Bank of North Dakota has been doing it since 1919. Ray Southwell Nikiski
December 23, 2013 will mark the 100th anniversary of our Federal Reserve Bank (Central Bank). The name implies a public bank owned and operated by the federal government. That assumption is wrong. It is a private banking system that operates for profits of the private banks who are members. They have dual mandates from government. "Maximum employment and stable prices." With the Central Banks' promise came a great privilege. Money creation through credit. Banks do not lend deposits. They create credit from assets/deposits to expand the money supply.
According to Mother Jones online news, Senator Elizabeth Warren (D-Mass) was quoted "Today, the four biggest banks are 30 percent larger than they were five years ago," she said. "And the five largest banks now hold more than half of the total banking assets in the country." ("Elizabeth Warren Slams Regulators," Nov. 12, 2013)
For years I have attempted to generate honest discussion concerning our government's monetary and fiscal policies. To no avail. People and politicians enjoy picking a side and digging in their heals.
I worked in the health care industry for over 40 years. When an error occurred, the nurse was usually blamed. By the 90s there was a paradigm shift. Shifting from blaming the nurse to understanding failed systems in delivering health care. It was recognized, "people working in health care are among the most educated and dedicated workforce in any industry." However, "To Err is Human." Hospitals and other health care delivery systems had to change. Today, root cause of errors are looked at rather than individuals involved.
A default on the U.S. debt is a fallacy. Government is taking in plenty of tax money to cover the carrying costs of our debt. However, there will be significant austerity that will hit the American people if politicians do not raise the debt limit.
According to Attorney General Eric Holder, mass shooting incidents have tripled in recent years. The people are horrified. Some blame guns. Others talk about bullying in schools/workplaces. Still others believe it's always some "nut case.
Wow, now I read about the mega-oil companies plan to build an all-Alaska large volume gasline (Peninsula Clarion October 8, 2013). Alaskans supported the idea since 2002.
Convince the majority a repugnant law is best and you have tyranny of the majority. The curtain falls on minority rights. That sums up a Democracy, majority rule. We have seen the full weight of Democracy in the past. The majority overpowered those of color or a different religious belief.
We continue to see the decay of our national infrastructure. Another bridge collapse. This time, in the State of Washington. The chairman of the National Transportation Safety Board was quoted as staying this should be a "wake-up call." Our economy continue to be teetering. The masses are in a quandary of uncertainty. Think for a minute on what made this nation an economic power-house? Today, we focus on money and ignore what made us the most productive nation in the world, infrastructure. The scheme we currently have is all about money, called monetarism.
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