Capitalism

Can we resolve the flaws of capitalism while preserving the primacy of individual freedom?

I think it's possible. Let me explain. These are what I perceive to be the flaws in the way our "capitalist" system operates:

A. Our system of currency is totally corrupt. The banks create virtually all the money by fiat and loan it into the economy. There is never enough money in circulation to satisfy the total outstanding debt. This creates a perpetual drain on the economy to service this excessive debt via interest payments. By offering a small group of businesses the power to control our medium exchange, we have collectively surrendered our independence. Under such a system freedom, individual freedom, is doomed.

B. Corporations have become "persons" under the law. As such, power concentrates into an ever decreasing circle of virtually omnipotent power centers. The natural progression is inevitably monopoly. With access to such vast resources, huge corporations literally have the power to control the ebb and flow of almost ALL of the worlds resources. Once again, under such a system individual freedom is doomed.


Around 10,000 people currently own 97% of the wealth of the U.S. This is no accident. Our economy is nothing but a giant pyramid. It only works when there is a constant influx of new entrants into the system. That means perpetual growth. If it doesn't grow forever, it collapses. We call these collapses "recessions" and "depressions". We are assured that these dips in prosperity are the "natural progression of things". This is simply not true.

Let's talk about currency reform for a moment. As the current system of money stands today, the majority of global commerce is conducted via the "Federal Reserve Note". On this note are printed the words, "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE". With these words almost worthless pieces of paper were transformed into the single most important commodity on earth. The Federal Reserve System, a privately owned corporation, assumed control of the creation of these pieces of paper in 1913. From that moment there has been a slow, but steady, depreciation of the value of our "dollar", reducing it's value by some 95% in the ensuing century. This is NOT the result of the Fed. printing too much money. They didn't print enough, because they CANNOT print enough. Understanding that the interest on debt based money accrues exponentially over time, if there were truly enough money printed to satisfy the obligations, the currency would self destruct.

The only way to fix this is to get rid of the "debt". It's ultimately fiction anyway, just toss it aside. Instead of the government borrowing money, the government should just print money. If the government simply printed the money, paid off the national debt, literally 1/3rd of the federal budget would be wiped out over night. Banks would be regulated and forced to only loan money they actually possessed in the form of excess reserves. Inflation is regulated by constitutional amendment, with congressional oversight.

The next step is to address the corporation. Simple, amend the 14th amendment to read "natural persons" rather than simply "persons" and corporations disappear. Think about it. If you did that, small congregations of very rich would not wield the power to dictate to the balance of society the level of opulence they are allowed to enjoy.

Corporations are ultimately ARTIFICIAL PERSONS, created by government fiat, just like the currency. It's ridiculous that we grant these groups special privileges.

Instead of repairing the defects of capitalism, why don't we try it, for once?