It's interesting that the magazine and mass movement (Father Coughlin's Social Justice) Jazzz said had all the answers to our problems had we listened to it in the 1930s also published this kind of stuff:
No it's not really, it's quite irrelevant.
The article you quoted earlier is credited to Robert H. Hemphill.
Researching him, the internet reveals that he was Credit Manager of the Federal Reserve Bank of Atlanta during the depression. Just maybe he knew his stuff and was in a position to spill the beans.
He quoted, in a foreword to Irving Fischer's book 100% money:
"We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon."
Irving Fischer was considered by both the Nobel Prize winning economists Milton Friedman and James Tobin to be "the greatest economist the United States has ever produced".
This is money theory. It is mathematics. One thing I know about mathematics is that race has fuck all to do with it and really you would have to be an idiot to claim otherwise. Hemphill is not right or wrong depending on what race the bankers are. He is right or wrong depending on the maths. And he is right. The fact that your magazine printed something else by another author is here nor there. Even if Hemphill had sympathies with it it doesn't matter.
The extraordinary thing is that apparently on urban75 this is considered "loon" stuff. What that shows is just how fantastically programmed we are. We've been frogs that have been so marvellously boiled we think the current arrangement is 'the system', just the way things are. The way things are is that we've been fantastically ripped off and are slaves on timeshare. In the 1960s when they were designing all those wonderful labour saving machines, washing machines, dishwashers, massive advances in technology for production, etc - they thought, "what are we going to do with all our spare time?". Ha! How many of us can say they can work 20 hours a week and be fine?
It's interesting that the link Jazzz uses to insert further empty nonsense includes the description: 'The macroeconomic statistics hide the reality of life for ordinary Icelanders. Higher taxes, spending cuts and a wave of repossessions have left many distraught.'
It is - as close as we can see it - the anti-banking scenario Jazzz aspires to via the anti-semitic conspiracist ideas.
We are talking about a country that was bankrupt in 2008 with a currency that was worthless. As far as I know, they still have fractional-reserve banking. They've just picked themselves up off the floor remarkably.
The people of Greece have been told that the privatization of their public sector is the only solution. And those of Italy, Spain and Portugal are facing the same threat.
They should look to Iceland. Refusing to bow to foreign interests, that small country stated loud and clear that the people are sovereign.
That’s why it is not in the news anymore.
Iceland's On-going revolution
