Monthly Archives: March 2010

The Most Dangerous Man in America

I had the privilege last night of meeting Daniel Ellsberg and to be among the crowd of several dozen people who gathered at his home to watch the film, The Most Dangerous Man in America: Daniel Ellsberg and the Pentagon Papers, winner of numerous festival awards and nominated for an Academy Award in the category of Best Feature Documentary. The film distills into 90 minutes, the story of government deception and malfeasance and one man’s courageous decision to tell the people.

I’m old enough to remember those events as they unfolded and were reported in the news media, but being highly controversial and scattered as they were over a long time period, they did not penetrate very deeply beyond the veil of my own  indoctrination. Now, with the pertinent facts gathered together and the inclusion of actual audio records of then President Richard Nixon’s maniacal ravings about nuking the Vietnamese into oblivion, we have a compelling picture of the abuse of power and a failed policy that extended over five presidencies from Truman to Nixon.

Since 9/11, Americans have seen an ever greater concentration of power at the top levels of government along with increasing government secrecy and transgression of civil liberties. The USA Patriot Act effectively shreds the Bill of Rights.

This film is the kind of powerful medicine needed to rouse the body politic to face the political realities of our times and, hopefully, reinvigorate our the struggle to “escape the matrix.” It is a film that every American should see, especially those who are too young to remember the United States’ war against Viet Nam.

Here is a trailer:

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U.S. Likely to Move from Fractional Reserve Banking to No-reserve Banking

Fed Chairman, Ben Bernanke is calling for an end to bank reserves.

In the footnotes of a speech U.S. Federal Reserve Bank Chairman Ben Bernanke would have given to the House Financial Services Committee on Feb. 10, lies a unique and startling disclosure.

Hosted on the Federal Reserve’s own servers, the written testimony of the bank’s chairman explains in plain text what expanding the Fed’s powers will do.

“The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system,” footnote number nine, at the bottom of the page, explains without additional qualification.

This marks the end of even the pretense that reserves mean anything in today’s banking system, or that there are any effective controls on the abusive issuance of money as debt. Read the full article here.

Prof. Simon Johnson on the (Financial) Doom Cycle

Simon Johnson is a professor of entrepreneurship at MIT. In this video he explains that the financial crisis is no accident but a continuing cycle in which the big banks get ever richer and more powerful. He does not seem to recognize the debt imperative and growth imperative that is a feature of our debt-money and banking system but his charts clearly show its effects.–t.h.g

The End of Money book one of top 15 “most shareable” of 2009

My latest book, The End of  Money and the Future of Civilization has been rated one of the top 15 SHAREABLE books of 2009. It shares this list with some very good company. Have a look. “Shareable is a nonprofit online magazine that tells the story of sharing.”  The guys who run it have some pretty impressive credentials.