Bill Still – Public Banking 2013 – Funding the New Economy

Video by Bill Still

Comments by Charles SUlka

Youtube Video URL: https://www.youtube.com/watch?v=0OxzpmW5N60

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In this short video Bill Still, who is regarded by many as a luminary with regard to monetary reform, explains why a gold standard is undesirable. In this thoughtful analysis, Still

* Emphasizes the importance of stability as the central goal of economics, at least with regard to monetary policy, pointing out that the present boom-and-bust model — the strategy of the financial manipulators — empowers and enriches a class of economic parasites (the financial sector), to the detriment of everyone else.

* Advocates Modern Monetary Theory (MMT): (debt-free government issued currency used for direct public spending) and an end to private central banking, i.e. The Federal Reserve.

* Refutes the ‘gold bugs’ who clamor for a return to the gold standard, warning that gold-based currency has never served the public, but only served the interests of the moneyed class. In Still’s own words: “A return to a gold standard would be a return to serfdom.”

* Endorses Public Banking as an alternative to private for-profit corporate banking. Establishing community-based financial hubs and regional economic programs is central to restoring local control to the economy and freeing mankind from the shackles of the corporate capitalists. In the Christian faith, being in control of one’s life is known as the doctrine of subsidiarity.

(chs 06-18-2019 1514 -0500)

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