============================: THU.OCT,981029 :============================
12| Dr  LarryParks  : The Oncoming Monetary Collapse and the Fight for Honest
 Money . Marriott 49th & Lex, NYC. RSVP rqrd RotaryClub;819-0809 . Lunch $37
|12:50|   Intro Member : Monetary InStability :
 Larry`s forte : educate about monetary system | Fight for honest Money .
 Money sceond only to sex & may be precondition for 1st .
 Congress Sell bonds to commercial Banks . $900B now on books . False that
 banks relending other peoples money . created $900B out of nothing .
 call it fractional reserve lending . MOney that leaves bank to individuals
 get redeposited .
 Johnson never raised taxes . Banks get $50B interest each yr for bonds .
 & pay very little interest on checking acnts .
 School Lunch Program ,
 EdwinMiera mongraph : on website :   Monetizing debt .
 Lets say want another $450B w 18 keystrokes - backed by 100ks over period of
 time . Money Ctr Banks Can create all the money they want when they lend .
  Banks ks hav e creae $5T since 1950 | $1T this yr . GM , etc lend to
  capital mkts directly . Colluded w Polititions to create safety nets -
  Lneder of Last resort @ FedRes . If systemic
  Everytime money created out of nothing , dilutes value of money already
  created .  Moral Hazard - taxpayers pay . Have rules on capital .
  60 -70T$ in derivatives ( bets ) . Currancy trading - Citibank 'earned'
  $2B last yr . Fed stands ready to back up 'without limit'  .
  FDIC : In last century # of Bank panics when banks went bust . Banks had ~
  .4 assets . 1907 Banks
 Fiat Money sytems have always failed  - since ancient chinese .
 always has be . since `60 1$ has lost .9 of value . Why think stoped .
 Fiat $s centrally planned .
 Answer : Commodity money . trading wealth for wealth . barter - cant carry
 around - then becomes fiduciary money . Gold most efficient means of
 transfering value over space and time . freer society .
 Why not have gold as money . MurryRothbard  - GeogeSoros  P 101 .
 LP : Why . incompatable w lender of last resort . gold stands in the way of
 bailout .  Keynes set up Indian banking system : ' Gold is archaic relic ' .
  Central bank gold in competion . Roosevelt seized all gold 330310 fireaide
  chat . We have been swindled .
 ThomasJefferson : shine a light :
  We have no leaders in a putitive sense . Follow polls .
  FAME working to start own money .
  Vital Speaches  - Larry on it .
 Journalists get hardly any mail .
 FAME has take directly to Unions etc . Indonesia starving .
 Larry has joined 2 unions . Labor has long history of supporting hard Money.
|13:32|  The text of the speech should be available soon on  FAME.org  .
 After the talk , I told Larry I continue to believe the quest
 for a tangible foundation for money will find none .
 Money exists in histories of account entries . The search for a foundation
 for solid money reminds me of the searh for ' grandmother ' neurons
 mediating recognition of , e.g. , your grandmother , popular back when I was
 trying to figure out  how brains work  .
 I am surprized there is a  Libertarian 
 affinity for a return to something (?) like a Gold standard .
 Seems strange to me , they don`t recognize that in our global electronic
 wired world , there is essentially a Free Market in Moneys . Notice that the
 abandonment of gold coincides with the rise of light speed global
 communications and computerization of records . The attributes Larry
 mentions as suiting gold uniquely for portable exchange has been trumped by
 technology . 
 

;

CoSy The NoteComputer

Feedback : bob@cosy.com