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Thu

15

Jan

2009

Response to Ellen Brown's 'How to Resolve the Credit Crisis
Thursday, 15 January 2009 19:44
by Zahir Ebrahim

Thank you Ellen for your article “How to Resolve the Credit Crisis” [1]. It is a well written “platitude” and I will include it in the Monetary Reform Bibliography under a new section titled 'Reform in 15 Minutes' [2]

The reason I call it “platitude” is not out of disrespect. You have explained credit very well in your excellent book Web of Debt (and I am half-way through it), and so has Paul Grignon in his outstanding video Money as Debt. Please understand that “Thou Shall Not Kill” has been around for 3 thousand years but has made no impact. And wars greatest harbingers today brought it to us. [3] We also have “Do unto others as you have others do unto you”, and yet, “Hegemony is as old as mankind”! [4]

We all understand that the world's problems can be solved instantly, overnight, if the hectoring hegemons of all stripes were simply hung from the tallest poles, castrated so they couldn't reproduce, and disbarred from ever owning any property, banks, and the press. We also understand that voluntary servitude, both of peoples, and of nations, can be simply ended by refusing to go along – by simply not being a part of that exploitation, by saying no, by withdrawing support. Etienne de La Boétie spelled that out several hundred years ago. See “Happy-Happy In Hope and Voluntary Servitude”. [5]

And yet...

So among your accurate statements:

A more effective alternative than trying to patch up the hopelessly imperiled derivatives positions of these few Wall Street banks would be to simply create another credit system with a pristine set of books.”,
and “We the people and our representatives in Congress have allowed Wall Street to call the shots because we think we are dependent on their credit system, but we aren't”,
and “There are other ways to get credit -- ways that are fair, efficient, transparent, and don't encourage greed. Public credit could be generated by a system of public banks.”,
and finally “The credit crunch could be avoided by "going local" not just in the United States but around the world. Countries that have been seduced or coerced into funneling their productive assets into serving foreign markets and foreign investors could become self-sustaining, using their own credit and their own resources to feed and serve their own people.”,


...nothing is new, nor radical (as you rightly put it), nor unknown.

And yet, you did not address the real unknowns, the sine qua non of all transformations: “Who will bell the cat?” [6]


Please visit the Monetary Reform Bibliography and advise me what is lacking in it in terms of solution spaces. IMHO, the only thing missing is captured in this statement:

'To confiscate their purse-strings – as easy as a stroke of pen – is a revolutionary act for which there is no “Jesus” today to cleanse the Congress of the moneychangers. The Wall Street bailout with the new crown of thorns, and which the US Treasury Secretary Hank Paulson is now brazenly attempting to extend to crucify all of mankind upon the new cross of a global monetary system, is proof-sufficient.'


The paragraph which precedes the above quote from the afore-cited analysis (ibid.) sums up my present thinking, and I would be happy to be pointed out any misconceptions on my part:

'Realistically, I see no impact by monetary reformers at the national or international level. For it is but a truism that those who control purse strings, control nations' destinies – the real golden rule on earth, as old as mankind!'


And they are not about to give up that control to the platitudinous pleading of well intentioned reformers.

Therefore, I feel that we must work globally to figure out “how to bell the cat”, how to wrench nations from the clutches of the hectoring hegemons for whom debt is a key instrument of control unabashedly backed by both McDonald and McDonnell Douglas [7], and not continually keep trying to figure out which bell to put on that mother of all “felines”. I have tried to repeatedly make that point, but apparently to no avail. [8] [9] [10]

Thank you.

Zahir Ebrahim

Project Humanbeingsfirst.org

Footnotes:

[1] Ellen Brown, How to Resolve the Credit Crisis: Credit Where Credit is Due, Global Research, Jan 11, 2009, http://globalresearch.ca/index.php?context=va&aid=11746

[2] Project Humanbeingsfirst, Monetary Reform Bibliography – A self-study guide for uncovering the agendas behind the economics gibberish, http://print-humanbeingsfirst.blogspot.com/2008/10/monetary-reform-bibliography.html

[3] See Project Humanbeingsfirst's Letter to Editor Palestinians' fate worse than Shoah! Jan 09, 2009, http://print-humanbeingsfirst.blogspot.com/2009/01/palestinians-fate-worse-than-shoah.html and 'The WAR on TERROR 2008 Omnibus Collection (PDF)' May 11, 2008, http://humanbeingsfirst.wordpress.com/files/2008/05/the-war-on-terror-2008-omnibus-may112008.pdf

[4] See Brzezinski in Project Humanbeingsfirst's Letter to Editor – Premeditated Radicalization: Why? January 11, 2009, http://print-humanbeingsfirst.blogspot.com/2009/01/letter-premed-radicalization-why.html

[5] Zahir Ebrahim, Happy-Happy in Hope and Voluntary Servitude, September 18, 2008, http://humanbeingsfirst.blogspot.com/2008/09/happy-happy-in-hope-voluntary-servitude.html

[6] Zahir Ebrahim, Monetary Reform: Who will bell the cat?, October 19, 2008, http://humanbeingsfirst.blogspot.com/2008/10/monetary-reform-who-will-bell-thecat.html

[7] Thomas Friedman, “Manifesto for a Fast World”, New York Times, March 28, 1999, http://www.wwmr.org/fastwrld.htm

[8] Zahir Ebrahim, The entrenched notion of Public Debt in America – will take a gestalt shift to overcome! A seeding–prose for Collaboration, October 29, 2008, http://print-humanbeingsfirst.blogspot.com/2008/10/monetary-reform-seeding-prose.html

[9] Zahir Ebrahim, Towards a Common Standard Benchmark for evaluating all Monetary Reform Proposals, October 9, 2008, http://print-humanbeingsfirst.blogspot.com/2008/11/common-monetary-reform-benchmark.html

[10] Zahir Ebrahim, Response to 'Sign Petition for a Monetary System That Puts People First - Open Letter to G-20', November 11, 2008, http://print-humanbeingsfirst.blogspot.com/2008/11/responseto-g20-monetary-reform-petition.html




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Tom Dennen said:

0
In Duplum Rule
Does it apply in the United States?
 
September 26, 2009 | url
Votes: +0

Project Humanbeingsfirst.org said:

0
on the reform agenda
"The in duplum rule as developed in our law, provides inter alia that interest due in respect of certain debts ceases to run when it reaches the amount of the unpaid capital sum." http://www.roylaw.co.za/Index....ID=7172579

This is possibly one of the reform ideas in the United States, at least from my perspective - to replace compound interest with simple interest, and the interest payment be capped at the amount of the principal borrowed. "In Duplum" as instantiated above is even a better improvement, that the cap be on the "unpaid capital sum".

All these are good ideas, but it's surely not for a want of good ideas... The aiders and abettors of the debt pyramid scheme aren't about to play dead before what's good for humanity, especially when they are in point of fact going all out to enslave us entirely in their web of debt.

The key monetary reform problem is precisely that unmitigated and unchallenged force of the international banksters - an articulation that is bizarrely missing from the problem statement of all monetary reformers I have seen to date. Please also see The Missing Link of Monetary Reform: How? Response to American Monetary Institute's 2009 National Conference on Monetary Reform

http://print-humanbeingsfirst.blogspot.com/2009/09/response-ami-monetary-reform-conf.html

Thanks for your question.

Zahir Ebrahim
Project Humanbeingsfirst.org


 
September 26, 2009 | url
Votes: +0

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