The Daily Bell
Tuesday, April 10, 2012
All Banks Are Not Created Equal … How the people can use public banks to supplant Wall Street … It is well known that Philadelphia was the birthplace of the U.S. Constitution and American democracy. Less well known is that it was also the birthplace of public banking in America … Both landmark events will be commemorated in upcoming gatherings in Philadelphia. On April 7th, during Occupy Philly’s celebration of its six month anniversary on the mall in front of Independence Hall, the Occupy Philly General Assembly reached consensus in support of the National Gathering Working Group proposal to hold an Occupy National Gathering at the same location from June 30 to July 4, 2012. The endorsement included a commitment by Occupy Philly to provide the resources necessary to make the first Occupy national gathering in history a resounding success. The stage was thus set for what could be a revolutionary event located at the historic birthplace of the First American Revolution. – Truthout
Dominant Social Theme: Two great movements come together as one.
Free-Market Analysis: We can see from this article excerpt above that two nascent “protest” movements are joining forces in Philadelphia. One is public banking and the other is Occupy Wall Street.
We wish we could be more optimistic about either … or both. But, sorry … This convergence seems to us evidently and obviously a dominant social theme of what we call the power elite. The elites use these fear-based promotions to frighten people into giving up power and wealth to globalist institutions.
In observing these dominant social themes it became clear to us that both the public banking movement and Occupy Wall Street are methodologies purveying the involvement of the state in private-sector affairs.
The state is the lever that the power elites use to realize what is evidently and obviously a globalist agenda. One-world government and global money can only be realized via mercantilism, the exploitation of government power.
We’ve already charted the backing of Occupy Wall Street – which is apparently partially provided by George Soros, from a funding standpoint. This has been widely reported. The OWS movement is surely one that seeks to reclaim the state on behalf of “the people.”
The public banking movement seeks to reclaim commercial banking and lending for “the people.” The convergence of these two movements in Philadelphia is hardly coincidental, in our view.
Both movements claim to represent the “people” versus the “corporate” interests that are exploiting the common man. This is in fact a promotion, in our view, as the end result empowers the state nonetheless – and thus achieves the aims of an elite that needs the state for its own purposes.
This should be obvious to anyone who watches what is unfolding closely, but many will not – and others hold out the hope that they can utilize state power to rectify what has gone wrong in the West.
But the trouble is that those with the most money and power will always be the ones to exploit the state most effectively. This means that the state apparatus will remain securely in the hands of a power elite that evidently controls central banking and has had a century or more to ensure its control of governmental power, as well.
This is why the libertarian formula for making things more livable is probably the correct one. Shrinking the state is probably preferable to trying to control it, especially if it remains un-shrunk.
Power loves complexity. To simply try to reclaim the levers of Leviathan from Money Power without shrinking the modern state drastically is probably a fool’s errand. Nonetheless, well-meaning people will try, as we can see from the article excerpted above.
Public banking preaches that individual state-run banks can loan out money at little or no interest to those who need funds. This is called Greenbackerism, and the trouble is that this is a recipe for inflation.
Absent market discipline, those in charge of printing money will always print too much. Abraham Lincoln is often provided as a model for this sort of financial approach. But as we pointed out yesterday, there is more to the story of Lincoln than has been presented by Greenbacker revisionist history. You can see our take here: Lincoln Must Have Worked for Money Power.
As for OWS, this movement wants to use the levers of the state and the modern penal-industrial complex to “punish” greedy Wall Street crooks. There is no talk of addressing the larger issues having to do with the dynastic families and their enablers and associates around the world.
Instead, the dialectic being set up is one in which the private sector is demonized while the public sector is defended as necessary and appropriate – so long as it is controlled by the “people.” How this is going to come about is unclear.
The solution is not, in our view, to take over Leviathan but to shrink it. Individual human action is what’s necessary, not vast group actions. Heal thyself, not a community of billions. Seek smaller communities and prepare among family and friends for hard times.
“Public solutions” – and using the levers of Leviathan to benefit the “people” is a kind of pipe dream that leaves the real controllers unscathed. That’s why, in our view, they’re being promoted. It’s probably all part of a larger “directed history.”
Conclusion: We’ve long predicted the convergence of these two movements. We don’t think what’s happening now is any coincidence. Wish we were wrong. Sorry to be so skeptical …
This article was posted: Tuesday, April 10, 2012 at 9:00 am