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PJ Buys's avatar

Friggin awesome article. Frank, you've become a staple.

Richard C. Cook's avatar

The underlying purpose of the consumer economy is the need to produce maximum velocity of money where purchasing power is introduced primarily by means of borrowing from banks. The borrowing produces an extra burden on the economy through the introduction of interest payments not covered by the borrowing. It's all a function of an economy controlled by private sector financial interests. I explain all this in my writings, including my book "We Hold These Truths: The Hope of Monetary Reform." These mechanisms have been known in detail since C.H. Douglas published his first book on economic democracy in 1920 but had already begun to be explored by economists in the US in the 1830s. So no one should pretend to be surprised at the catastrophes that have befallen society due to these principles having been ignored by a political system owned by the financiers. At the same time the situation could easily be remedied by measures advocated by the monetary reform movement. An example may be found in the platform of the US Green Party. If anyone wishes to learn more about all this, please consult my writings in the Three Sages Substack.

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