Federal Reserve can serve 100%, not just criminal 1%: Prof. Tim Canova explains

The first 32 minutes of this video from Claremont Colleges’ Center for Process Studies’ conference, “Money-Creation in a Finite World,” is Professor Timothy Canova’s presentation to explain how the Federal Reserve can be governed away from its captured status to redirect trillions of dollars in annual benefits for Americans (recent paper here). Note: the bottom-right of the video has screen options to switch screen-in-screen and full-screen options;  the remainder of the video is panel and audience discussion.

The 99% must achieve factual command of the basic facts how money and credit are created, or else continue their debt-damned existence under an oligarchic and Robber Baron-era structure.

Monetary and credit reform can be understood with three simple areas of facts that are taught in basic economics and easily verified:

  1. The US does not have a money supply; we have its Orwellian opposite as a debt supply. This is because the US leading banks won legal right through passage of the 1913 Federal Reserve Act to have private banks and the Fed create debt for what we use as money, and then charge the 99% for its use.
  2. The policy choice of a debt supply compounded with interest causes ever-increasing aggregate debt that can never be repaid. It can’t be repaid because this is what we use for money. The US national debt now pushing $16 trillion has a gross annual interest payment over $400 billion a year; ~$4,000 per US family of $50,000 annual income (if your household earns $100,000, then your gross annual interest payment is ~$8,000 every year).
  3. Monetary reform creates debt-free money that extinguishes the debt (details here), and allows government to become employer of last resort for infrastructure investment (hard and soft). This creates full-employment, optimal infrastructure, and falling prices because infrastructure historically creates more value to the economy than cost. Credit reform allows for public loans (interest directly pays for public goods/services) as another monetary tool for stable money supply.

Obviously, monetary and credit reform benefits 100% of humanity because it guarantees full employment, optimal infrastructure, and no government debt/interest cost. The current parasitic system benefits a 1% banking oligarchy that causes cyclical unemployment and poverty, decays infrastructure (especially as debt and interest costs accelerate as they do today), and enslaves the 99% to permanent and escalating debt.

Americans cannot be responsible citizens without understanding this fundamental structure of money.

Professor Tim Canova is the Betty Hutton Williams Professor of International Economic Law and co-director of the Center for Global Law & Development at the Chapman University School of Law in Orange, California. He previously served as the law school’s associate dean for academic affairs.

Tim’s research crosses the disciplines of law, public finance, economics, and history. He was an early critic of financial deregulation and warned of the dangers of the bubble economy. He has authored more than two dozen articles and book chapters, including articles in the Harvard Law & Policy Review, American Journal of Economics and Sociology, Brooklyn Law Review, Georgetown Journal of Law & Public Policy, and UC Davis Law Review.

This entry was posted in General. Bookmark the permalink.
  • http://rehmat1.wordpress.com/ Rehmat

    Both Rep. Ron Paul (R-Texas) and Rep. Dennis Kucinich (D-OH) have angered Jewish groups for calling audits of privately-owned Frederal Reserve, formed by an act of Congress in 1913 as a way of stabalizing banking industry.

    Now, Rep. Dennis Kucinich has tabled the NEED Act 2011 which will place the Federal Reserve under control of US Treasury. It will also implement new rules for the financial industry to narrow-down the gap between the 1% vs 99% American population.

    Congressman Dennis Kucinich, a longtime advocate for reform of the Federal Reserve, sharply criticized the Federal Reserve after Bloomberg news reported that the Federal Reserve secretly committed nearly $8 trillion in support to American and international financial institutions during the 2008 bailout. Kucinich recorded a video (watch below) before going to the floor of the House of Representatives to call upon Congress to reclaim its Constitution primacy over monetary policy.

    Behind the smokescreen – the Federal Reserve is not a government agency. In fact the US government has never owned a single share of Federal Reserve Bank stock. However, the US President do appoints the Governors of the Federal Reserve Board who are then confirmed by the Senate. The secret author of the Act, German-born American Jewish banker Paul Warburg (died 1932), a representative of Rothschild bank , coined the name ‘Federal’ from thin air.

    http://rehmat1.wordpress.com/2011/12/03/lobby-attacking-federal-reserve-is-anti-semitism/

    • Carl Herman

      Well said and documented, Rehmat. Thank you.

  • Bev

    Perhaps my first post was too long.

    Support Dennis Kucinich’s heroic monetary reform and full employment bill the NEED Act.

    http://www.opednews.com/articles/Breaking-news-Kucinich-se-by-Don-Smith-120415-18.html

    Breaking news: Kucinich seriously considering running for Congress in Washington State

    By Don Smith

    Washington State supporters of Dennis Kucinich received email this morning indicating that he is seriously considering running for Congress in Washington State:

    Dear Friend,

    I have just received this communication from Washington Citizens for Kucinich which asks that I consider running for Congress in Washington State.

    This week, while I was speaking in Seattle, the question came up in two television interviews: KCPQ-TV and KING-TV. I cannot approach consideration of such an unprecedented step without seeking advice from you, my friends in Washington State, whose help and generosity have enabled me to serve in the US Congress from Ohio.

    I would appreciate your participation in this survey of my Washington State supporters. Please click on this link, enter your email address and zip code, and then vote. I would be grateful for your comments too and shall be reading them on Wednesday.

    Your participation and your guidance is critical to my decision.

    Very sincerely,
    Dennis Kucinich

    On Dennis Kucinich’s website they posted a copy of a long, well thought-out letter from David Spring and Elizabeth Hanson calling on Kucinich to come to Washington State:

    A Message from Washington Citizens for Kucinich

    “The purpose of this letter is to explain why we believe that one of the options you should consider is running for Congress in one of our three open Congressional Districts here in Washington State.” Spring reports receiving hundreds of signatures on the petition he set up in support of Kucnich’s run.

    On March 6, Kucinich lost a primary battle for his redistricted and gerrymandered Ohio congressional district. (See here , here and here.) His loss generated national coverage with commentators lamenting the “end of an era.”

    snip

    If you support Kucinich’s running in Washington State, please sign the petition and Like the facebook page of Washington Citizens for Kucinich.

    ………………

    Kucinich is considering a run in Washington state after receiving requests to do so.

    http://www.bradblog.com/?p=9173

    By Brad Friedman on 3/9/2012 3:22pm

    Kaptur Defeats Kucinich 94% to 4% on 100% Unverifiable E-Vote Systems in Toledo, OH?
    Is that even plausible?…

    snip

    Now Toledo is Kaptur’s current district, so it might make sense for her to win a lopsided victory there. Kucinich reportedly won handily in his own Cuyahoga County district of Cleveland by a 72.5% to 24% margin.

    But really? 94% to 3.7% over Kucinich in Lucas County? 22,269 votes to just 870 votes? Those are Saddam Hussein-like numbers. Are they even plausible? I’ve been trying to learn more and would certainly welcome any input from folks who know the politics in that area of the state better than I do. If there is a perfectly reasonable explanation for those results, I’m certainly open to hearing it.

    Unfortunately, all Lucas County voters are forced to vote on 100% unverifiable Diebold touch-screen voting machines on Election Day. So whatever the numbers really should have been will ultimately remain unknown, as it’s strictly impossible to determine if even one vote, ever cast on any such voting machine, for any candidate or initiative on any ballot, in any election, has ever been recorded accurately as per any voter’s intent.

    Some 20 to 30% of voters across the nation will still be forced — shamefully, even after all that we now know about these oft-failed, easily-hacked machines — to cast their ballots on the very same and other similarly 100% unverifiable voting systems on Election Day during the 2012 Presidential Election.

    …………….

    http://www.bbvforums.org/forums/messages/8/81816.html?1326486710

    GLOBAL INTERNET VOTING FIRM BUYS U.S. ELECTION RESULTS REPORTING FIRM –

    By Bev Harris

    http://www.blackboxvoting.org

    In a major step towards global centralization of election processes, the world’s dominant Internet voting company has purchased the USA’s dominant election results reporting company.

    When you view your local or state election results on the Internet, on portals which often appear to be owned by the county elections division, in over 525 US jurisdictions you are actually redirected to a private corporate site controlled by SOE software, which operates under the name ClarityElections.com.

    The good news is that this firm promptly reports precinct-level detail in downloadable spreadsheet format. As reported by BlackBoxVoting.org in 2008, the bad news is that this centralizes one middleman access point for over 525 jurisdictions in AL, AZ, CA, CO, DC, FL, KY, MI, KS, IL, IN, NC, NM, MN, NY, SC, TX, UT, WA. And growing.

    As local election results funnel through SOE’s servers (typically before they reach the public elsewhere), those who run the computer servers for SOE essentially get “first look” at results and the ability to immediately and privately examine vote details throughout the USA.

    In 2004, many Americans were justifiably concerned when, days before the presidential election, Ohio Secretary of State Ken Blackwell redirected Ohio election night results through the Tennessee-based server for several national Republican Party operations.

    This is worse: This redirects results reporting to a centralized privately held server which is not just for Ohio, but national; not just USA-based, but global.

    A mitigation against fraud by SOE insiders has been the separation of voting machine systems from the SOE results reports. Because most US jurisdictions require posting evidence of results from each voting machine at the precinct, public citizens can organize to examine these results to compare with SOE results. Black Box Voting spearheaded a national citizen action to videotape / photograph these poll tapes in 2008.

    With the merger of SOE and SCYTL, that won’t work (if SCYTL’s voting system is used). When there are two truly independent sources of information, the public can perform its own “audit” by matching one number against the other.

    These two independent sources, however, will now be merged into one single source: an Internet voting system controlled by SCYTL, with a results reporting system also controlled by SCYTL.

    With SCYTL internet voting, there will be no ballots. No physical evidence. No chain of custody. No way for the public to authenticate who actually cast the votes, chain of custody, or the count.

    SCYTL is moving into or already running elections in: the United Kingdom, France, Canada, Norway, Switzerland, United Arab Emirates, South Africa, India and Australia.

    SCYTL is based in Barcelona; its funding comes from international venture capital funds including Nauta Capital, Balderton Capital and Spinnaker.

    snip

    This update thanks to research by the impressive public citizen Joseph Holder. As he points out, this creates a monopoly.

    It creates a vertical monopoly, in that you have one provider providing each step of the system, and a horizontal monopoly, with one provider delivering results across the majority of the geographic spectrum.

    ……………..

  • Bev

    In case previous did not take:

    Dennis Kucinich’s heroic monetary reform and full employment bill the NEED Act needs to be passed, preferably sooner rather than later.

    http://www.opednews.com/articles/Breaking-news-Kucinich-se-by-Don-Smith-120415-18.html

    Breaking news: Kucinich seriously considering running for Congress in Washington State

    By Don Smith

    Washington State supporters of Dennis Kucinich received email this morning indicating that he is seriously considering running for Congress in Washington State:

    Dear Friend,

    I have just received this communication from Washington Citizens for Kucinich which asks that I consider running for Congress in Washington State.

    This week, while I was speaking in Seattle, the question came up in two television interviews: KCPQ-TV and KING-TV. I cannot approach consideration of such an unprecedented step without seeking advice from you, my friends in Washington State, whose help and generosity have enabled me to serve in the US Congress from Ohio.

    I would appreciate your participation in this survey of my Washington State supporters. Please click on this link, enter your email address and zip code, and then vote. I would be grateful for your comments too and shall be reading them on Wednesday.

    Your participation and your guidance is critical to my decision.

    Very sincerely,
    Dennis Kucinich

    On Dennis Kucinich’s website they posted a copy of a long, well thought-out letter from David Spring and Elizabeth Hanson calling on Kucinich to come to Washington State:

    A Message from Washington Citizens for Kucinich

    “The purpose of this letter is to explain why we believe that one of the options you should consider is running for Congress in one of our three open Congressional Districts here in Washington State.” Spring reports receiving hundreds of signatures on the petition he set up in support of Kucnich’s run.

    On March 6, Kucinich lost a primary battle for his redistricted and gerrymandered Ohio congressional district. (See here , here and here.) His loss generated national coverage with commentators lamenting the “end of an era.”

    snip

    If you support Kucinich’s running in Washington State, please sign the petition and Like the facebook page of Washington Citizens for Kucinich.

    ………………

    Kucinich is considering a run in Washington state after receiving requests to do so.

    http://www.bradblog.com/?p=9173

    By Brad Friedman on 3/9/2012 3:22pm

    Kaptur Defeats Kucinich 94% to 4% on 100% Unverifiable E-Vote Systems in Toledo, OH?
    Is that even plausible?…

    snip

    Now Toledo is Kaptur’s current district, so it might make sense for her to win a lopsided victory there. Kucinich reportedly won handily in his own Cuyahoga County district of Cleveland by a 72.5% to 24% margin.

    But really? 94% to 3.7% over Kucinich in Lucas County? 22,269 votes to just 870 votes? Those are Saddam Hussein-like numbers. Are they even plausible? I’ve been trying to learn more and would certainly welcome any input from folks who know the politics in that area of the state better than I do. If there is a perfectly reasonable explanation for those results, I’m certainly open to hearing it.

    Unfortunately, all Lucas County voters are forced to vote on 100% unverifiable Diebold touch-screen voting machines on Election Day. So whatever the numbers really should have been will ultimately remain unknown, as it’s strictly impossible to determine if even one vote, ever cast on any such voting machine, for any candidate or initiative on any ballot, in any election, has ever been recorded accurately as per any voter’s intent.

    Some 20 to 30% of voters across the nation will still be forced — shamefully, even after all that we now know about these oft-failed, easily-hacked machines — to cast their ballots on the very same and other similarly 100% unverifiable voting systems on Election Day during the 2012 Presidential Election.

    …………….

    http://www.bbvforums.org/forums/messages/8/81816.html?1326486710

    GLOBAL INTERNET VOTING FIRM BUYS U.S. ELECTION RESULTS REPORTING FIRM –

    By Bev Harris

    http://www.blackboxvoting.org

    In a major step towards global centralization of election processes, the world’s dominant Internet voting company has purchased the USA’s dominant election results reporting company.

    When you view your local or state election results on the Internet, on portals which often appear to be owned by the county elections division, in over 525 US jurisdictions you are actually redirected to a private corporate site controlled by SOE software, which operates under the name ClarityElections.com.

    The good news is that this firm promptly reports precinct-level detail in downloadable spreadsheet format. As reported by BlackBoxVoting.org in 2008, the bad news is that this centralizes one middleman access point for over 525 jurisdictions in AL, AZ, CA, CO, DC, FL, KY, MI, KS, IL, IN, NC, NM, MN, NY, SC, TX, UT, WA. And growing.

    As local election results funnel through SOE’s servers (typically before they reach the public elsewhere), those who run the computer servers for SOE essentially get “first look” at results and the ability to immediately and privately examine vote details throughout the USA.

    In 2004, many Americans were justifiably concerned when, days before the presidential election, Ohio Secretary of State Ken Blackwell redirected Ohio election night results through the Tennessee-based server for several national Republican Party operations.

    This is worse: This redirects results reporting to a centralized privately held server which is not just for Ohio, but national; not just USA-based, but global.

    A mitigation against fraud by SOE insiders has been the separation of voting machine systems from the SOE results reports. Because most US jurisdictions require posting evidence of results from each voting machine at the precinct, public citizens can organize to examine these results to compare with SOE results. Black Box Voting spearheaded a national citizen action to videotape / photograph these poll tapes in 2008.

    With the merger of SOE and SCYTL, that won’t work (if SCYTL’s voting system is used). When there are two truly independent sources of information, the public can perform its own “audit” by matching one number against the other.

    These two independent sources, however, will now be merged into one single source: an Internet voting system controlled by SCYTL, with a results reporting system also controlled by SCYTL.

    With SCYTL internet voting, there will be no ballots. No physical evidence. No chain of custody. No way for the public to authenticate who actually cast the votes, chain of custody, or the count.

    SCYTL is moving into or already running elections in: the United Kingdom, France, Canada, Norway, Switzerland, United Arab Emirates, South Africa, India and Australia.

    SCYTL is based in Barcelona; its funding comes from international venture capital funds including Nauta Capital, Balderton Capital and Spinnaker.

    snip

    This update thanks to research by the impressive public citizen Joseph Holder. As he points out, this creates a monopoly.

    It creates a vertical monopoly, in that you have one provider providing each step of the system, and a horizontal monopoly, with one provider delivering results across the majority of the geographic spectrum.

    ……………..

    • Carl Herman

      Thank you, Bev. Yes, the voting is rigged, and easily demonstrated as such. The answer is for those with arrest authority to exercise it on the obvious criminals who guard their power and engage in massive crimes with money and war.

 

 

Twitter