Economics as Clandestine Religion

[Mark]

Speech by Stephen Zarlenga,
Director of American Monetary Institute, 2005

Source: 'http://www.studien-von-zeitfragen.de/68_Wall_Street/Money_Religion/money_religion.html'

There is also growing awareness that we are all being targeted in economic warfare – all of us – your children and parents, friends, neighbors; since we can’t escape this struggle we’d better understand, and learn how to win.

This war is real and becomes more obvious in different ways every day. Not about the latest bush family misadventure in Iraq. I am referring to the deeper struggle over the direction of mankind that is more religious in nature. Not the fights with the religious right wing now threatening America’s political process. Those are real problems, but now we focus on a more fundamental battle with the new clandestine religion known as "economics"! ...

Thus Aristotle identified money as an abstract legal power - a social invention. Its essence is not tangible wealth, but a power to obtain wealth – a crucial distinction. Plato agreed and advocated such fiat money for his Republic. We find these key principles used in both Greek and Roman systems.

Aristotle explained that money is not a commodity and in clear demonstration of that principle, the Spartans purposely destroyed the commodity value of their iron money, dipping it in vinegar while hot. He explained that society can legally create the money and can also make it useless. In clear demonstration Roman law based her money on copper. Isolating her from the gold and silver systems of the East and hence disenfranchising much of the East’s power and giving Rome the chance to control her own destiny. Roman law set the value of their fiat copper money, like the Aes Grave, which started at 12oz of bronze, with the legal value of 30oz of bronze. Then they weighed 6oz and 2oz and 1oz, still legally worth 30oz of bronze. This legal basis of money also enabled Rome to decry some money as useless during the Punic wars, demonetizing the copper money held by towns wavering in allegiance. ...

Unfortunately the colonial monetary experience has been miscast as irresponsible inflationary paper money. This was originally the result of Boston’s Dr. William Douglas’ inaccurate writings. This error was corrected by Alexander Del Mar in 1900, but was completely ignored. It was authoritatively cleared up again by Professor Leslie Brock in 1976 and again ignored. Many economists and especially the libertarians still have not got the message that colonial government paper money was crucial in building the colonies.

In 1764, England’s lords of trade and plantations blocked all colonial legal tender and that was the underlying cause of the American Revolution, not some tax on tea. ...

More: 'http://www.studien-von-zeitfragen.de/68_Wall_Street/Money_Religion/money_religion.html'


Peace

[Levi Philos]

Thanks for the link. Zarlenga's home site is:
http://www.monetary.org/

I purchased a set of high quality CDs with the 2006 Chicago conference speeches in MP3 format.

The speakers were of consistent high quality.

Am looking forward to the release of the 2007 speeches.

http://www.monetary.org/2007conference.html

All that said, I do not agree with Zarlenga's position that the proper issuer of money is the government. Long term all I see there is a change in the power structure.

Consider this statement for contrast:

"Freedom cannot be purchased with a currency that is centrally issued. Centralized money and centralized power is a symbiotic pair; neither can exist without the other. Freedom can only be purchased with a decentralized open source medium of exchange where the producers of value participate in the creation of the symbols by which that value is exchanged in proxy, and the banker serves in an agency role to producers of value."


Levi Philos

[Mark]

Originally Posted by Levi Philos

All that said, I do not agree with Zarlenga's position that the proper issuer of money is the government. Long term all I see there is a change in the power structure.

Your probably right in this point, unless there was some way to insure that the sociopaths of society, or anyone for that mater, would not be able to get into a position of power or authority, or out of control if entrusted with same.

"Freedom can only be purchased with a decentralized open source medium of exchange where the producers of value participate in the creation of the symbols by which that value is exchanged in proxy, and the banker serves in an agency role to producers of value."

I could see how this would work on a local scale, but not too sure how this would pan out on a global scale. Given that one would want to be able to purchase lodging, food and whatnot while traveling abroad.
I do like the sound of open source, though.



Peace