I am no expert but I can see a distinction between the Bill Still camp, the Ron Paul camp, and the Lyndon LaRouche camp on monetary reform and central banking. This difference seems to be the crux of the “national bank” debate we see citing the Federal Reserve as the root of all monetary evil in the United States – an opinion which I also hold. Keep in mind that all three of these camps are IGNORED by mainstream media because they are controlled by the big banks.
First, the Bill Still camp supports the end of fractional reserve banking altogether. A good idea so long as there is a transition from our current 10% reserve requirement to 100% that doesn’t completely dry up the money supply. Bill Still also supports Ellen Brown and the Public Banking Institute and the notion of State owned banks like that of the Bank of North Dakota. If enough of these banks are put in motion, we could counter the need for the Federal Reserve. I am all for it. He is also for competing currencies and ending the ability for governments to borrow. Both are damn good ideas.
Second, Lyndon LaRouche and his LPAC group support the return of Glass-Steagall, the 1933 act that split the commercial and investment banking arms – a damn good idea since the investment banks are constantly inventing new ponzi schemes for making money, like the current several hundred trillion dollar derivatives market, at least $225 trillion is now held by the big five banks and supposedly covered by the FDIC. If there was another Lehman moment, the derivatives would bankrupt the FDIC.
Third, LaRouche supports the return of a new Bank of the United States, one which is possibly more transparent than the Federal Reserve but still a Federally controlled central bank with fractional reserve banking, not backed by any hard and scarce commodity such as gold or silver. This bank would be owned in part by the US government and the remainder by treasury holders, such as China, Japan, OPEN nations, all the major banks, etc. LaRouche has a completely polar opposite opinion of history as it relates to Andrew Jackson, and Alexander Hamilton. I believe you could refer to him as a Federalist.
Fourth, Ron Paul, primarily from the Austrian school of economics, believes in competing currencies, including the legalization of silver, as it was prior to the crime of 1873, and / or gold as it was before 1933 when we were on a full gold standard. He believes in small government and that the Federal Reserve is suppressing interest rates and creating mal investment, such as the housing bubble, the bond bubble.
There are so many more points that should be debated, live on the Ron Paul Channel or elsewhere in mainstream media. Lauren Lyster, Bob English, Max Keiser, Peter Schiff, Scott Horton, Ben Swann, and others could mediate and broadcast.
This is a big deal. Each of these perspectives believes that the privately held Federal Reserve and its charter members (a subset of its owners) are destroying the global economy. Make no mistake. There is something wicked and nefarious about the Federal Reserve, its just that the opposition is not united, nor do they control the media so they are not heard. 90% of Americans could read this blog post and not have the slightest clue about what I am saying, but all those that are familiar with the “#EndTheFed“, “#GlassSteagall“, and “#PublicBank” memes are certainly familiar with part of it.
In a separate article here, I argue that Occupy and the TeaParty should unite to fight the big banks and government corruption. This is THE ISSUE we should unite on!
I may be slightly wrong about each of these positions. No doubt I am. However, I am an average American with a Keynsian Economics degree that has spent at least 3 years of intense research on the question of the money supply, macroeconomics, banking, and insurance, and the crimes bankers commit and if I don’t get it, it seems unlikely that the general public gets it. Therefore, the public debate is necessary. It would take months if not years to get the distinctions out. Meanwhile, maybe we could awaken, stir up, and unite enough people to make real progress on the problem.
Here are the 3 stories: