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History
See other History Articles

Title: Hitler's Monetary System
Source: Rense
URL Source: http://www.rense.com/general77/hitn.htm
Published: Jul 15, 2007
Author: Rense
Post Date: 2007-07-15 00:50:08 by robin
Keywords: None
Views: 1438
Comments: 85

Hitler's Monetary System 7-14-7

"We were not foolish enough to try to make a currency coverage of gold of which we had none, but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank." -Adolf Hitler, 1937 (CC Veith, Citadels of Chaos, Meador, 1949.)

"And it proved sound. It worked. In less than ten years Germany became easily the most powerful state in Europe. It worked so magically and magnificently that it sounded the death knell of the entire (Zionist) Jewish money system. World Jewry knew that they had to destroy Hitler's system, by whatever means might prove necessary, or their own [system of usury] would necessarily die. And if it died, with it must die their dream and their hope of making themselves masters of the world. The primary issue over which World War II was fought was to determine which money system was to survive. At bottom it was not a war between Germany and the so-called allies. Primarily it was war to the death between Germany and the International Money Power." --William Gayley Simpson, 'Which Way Western Man' (p.642)

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Begin Trace Mode for Comment # 70.

#1. To: All, Eoghan, Cynicom (#0)

comments?

robin  posted on  2007-07-15   0:50:46 ET  Reply   Untrace   Trace   Private Reply  


#2. To: robin (#1)

We were not foolish enough to try to make a currency coverage of gold of which we had none, but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank

Actually this is a good and valid system...far far better than any gold standard. It is completely anti-inflationary and the basis of a fiscal rather than monetary economy.

Far superior to a monetarist manipulation system.

IMNSHO

JCHarris  posted on  2007-07-15   0:59:33 ET  Reply   Untrace   Trace   Private Reply  


#4. To: JCHarris, robin (#2)

but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced. . . .

Problem: Who's gonna make them accept a "mark" for their labor or goods? What if they don't want any marks?

The premise is that Germans would willingly trade their labor, which has value, for marks, which upon first exchange from the government to the laboror, have no value.

I'm curious, JC, what kind of monetary system you actually favor since you hold a gold backed currency in such contempt.

Pinguinite  posted on  2007-07-15   1:52:14 ET  Reply   Untrace   Trace   Private Reply  


#33. To: Pinguinite, IndieTx, Red Jones, HOUNDAWG, Fred Mertz, Minerva, christine, Zipporah, farmfriend, Eoghan, wudidiz, wbales, Former Lurker, Jethro Tull, Yertle Turtle, robin, Diana (#4)

I'm curious, JC, what kind of monetary system you actually favor since you hold a gold backed currency in such contempt.

I just told you. Fiat based on fiscal, not monetary parameters, with a "storehouse of value" being savings of the excess productivity, released during the slow business cycle to be re-cycled into infrastructure and productive employment in rejuvenating the infrastructure. This and this only. Dedicated funds by Constitutional LAW.

Think of a farmer working his ass off in the summer and Fall and making one helluva lot of money and socking a portion of it away to grow 10% more crops the next year and pay his help over the slow winter months ( starving time) to fertilize and sow green manure ( rye grass) and fix the equipment for the next year so they can get off to a running start.

Imagine a factory with its own internal chits good for anything you want...all that is personal.

When times are booming and output is maximized so the employees are paid and the company profits to the maximun, the excess profit ( this can be an agreed upon tax base that is spent only to the X% level, i.e. the fiscal constraint, to support the factory's current obligations with the balance "saved" e.g. stock buybacks...) is saved then purposefully spent during a cyclical downturn to renew the factory's infrastructure, build new facilities, repair machinery, update systems and machinery, plan for the fiscal upturn etc employ the workers within the factory for meaningful CAPITAL REJUVENATION, i.e. infrastructure great for consumerism and the good of the work force) ...the excess profit is released during a slow time fo0r infrastructure rejuvenation and capital replacement and work force re-training/meaningful work.

For a company this would be internal, for a nation it would be release of excess funds for highway/bridge construction boom, Building and office upgrade/replacement, National/state Park expansion/updating, arts and humanities support, release of study funds, mineral/resource exploration and development, power grid updating, energy construction ( nuclear to hydrogen) ...

i.e. about every five years instead of a painful slowdown, there would be a cycle of renewal as the storehouse of value because this would put the nation, and its component parts, in position for the next boom and rather than a grinding start up, the new cycle could be maximized and thus more "value" saved to plow into more urgrading the next slow cycle.

This makes far more sense than basing a nation's weal on how much metal is extracted sometime somewhere then manipulated by the various international bankers, like gold and diamonds.

This is a fiscal rather than a monetary storehouse and release of value system of capitalism that makes productivity the driving force of economics, as it really is and should be, without the manipulations of bankers. Deficit spending is held strictly within limits set by productivity...i.e. YOU may buy a $300,000 home on credit IF and ONLY IF you make at least $75,000 and do not already owe much money.

JCHarris  posted on  2007-07-15   11:30:56 ET  Reply   Untrace   Trace   Private Reply  


#43. To: JCHarris (#33)

I mean this sincerely -- you're explanation is rather nebulous, and from what I can make of it, seems to offer nothing that a gold standard couldn't do. Savings is certainly possible in a gold backed economic system, and drawn upon during slow periods as needed.

Pinguinite  posted on  2007-07-15   12:54:38 ET  Reply   Untrace   Trace   Private Reply  


#44. To: Pinguinite (#43)

seems to offer nothing that a gold standard couldn't do.

This from Richard Cook two months ago.

The last paragraph explains it all.

"It was the gold standard that led to the bankers wrecking the U.S. economy in 1932 by shipping Treasury gold as a bail-out to England, at the same time the U.S. was trying to recover from the crash of 1929. The 1932 gold and currency contraction was the real cause of the Great Depression. President Franklin Delano Roosevelt removed this danger by eliminating the domestic gold standard in 1933."

But even when paper currency was supposedly convertible to gold, or even gold and silver, the metallic standard always was a fiction. There never was and never could be enough for banks to hand over the requisite quantity to the “bearer on demand” if more than a fraction of the currency in circulation was presented for redemption at the same time."

Cynicom  posted on  2007-07-15   13:08:43 ET  Reply   Untrace   Trace   Private Reply  


#55. To: Cynicom (#44)

"It was the gold standard that led to the bankers wrecking the U.S. economy in 1932 by shipping Treasury gold as a bail-out to England, at the same time the U.S. was trying to recover from the crash of 1929. The 1932 gold and currency contraction was the real cause of the Great Depression. President Franklin Delano Roosevelt removed this danger by eliminating the domestic gold standard in 1933."

The Fed Reserve bank was already in place at that time, so how can this be blamed on the gold standard?

But even when paper currency was supposedly convertible to gold, or even gold and silver, the metallic standard always was a fiction. There never was and never could be enough for banks to hand over the requisite quantity to the “bearer on demand” if more than a fraction of the currency in circulation was presented for redemption at the same time."

If so, then that itself should be/have been a capital crime.

Pinguinite  posted on  2007-07-15   14:26:12 ET  Reply   Untrace   Trace   Private Reply  


#57. To: Pinguinite (#55)

The Fed Reserve bank was already in place at that time, so how can this be blamed on the gold standard?

As JC explained gold or any physical commodity can be manipulated, exploited and speculated.

Two Presidents in our history have defied the bankers and issued money on their own. Both were assassinated.

Cynicom  posted on  2007-07-15   14:41:15 ET  Reply   Untrace   Trace   Private Reply  


#61. To: Cynicom (#57)

As JC explained gold or any physical commodity can be manipulated, exploited and speculated.

He didn't explain that, or at least explain how it happens. He just said it does.

The obstical with such manipulation in a gold standard economy is that as someone hoards gold, the reduced gold in circulation drives prices up, which makes it harder (more expensive) for the hoarder to continue to sap gold from the economy. The more successful he is, the higher the price he has to pay to continue. The reduced supply of gold simultaneously creates pressure to mine more gold and reintroduce gold from other places (jewelry and elsewhere).

He'd have no more success in removing gold from circulation that the DEA has in removing drugs from circulation, and for the exact same reason.

And if the hoarder ever wants to participate in the economy, he has to spend the gold he's trying to hoard. And if he never does, then economically speaking, it's a non-issue as it just means he contributed goods & services to the economy while never accepting any in return.

Two Presidents in our history have defied the bankers and issued money on their own. Both were assassinated.

Yes, and this flies in the face of any proposition that bankers LOVE gold standards. Why would they kill people for wanting to institute gold standards if it plays into their favor???

Pinguinite  posted on  2007-07-15   15:08:55 ET  Reply   Untrace   Trace   Private Reply  


#63. To: Pinguinite (#61)

As JC explained gold or any physical commodity can be manipulated, exploited and speculated.

He didn't explain that, or at least explain how it happens. He just said it does.

Elementary !!

If I have a monopoly on gold...and the bankers have since before the Crusades...I can declare any value I want to for the gold and then it is the same as fiat.

This is done all the time.

There have been many times the "dollar price " of gold should have been $1000 but was a fifth of that and vice versa...this is strictly a regional reserve bank decision...and YES you can be made to sell your "gold" in many ways.

In addition, the expansion and contractioon of gold, and the fact it always stays in the ownership of the monarchy/banker prevents it allowing flexibility in increased productivity for the reasons stated previously.

Gold is NEITHER a good medium of exchange...it is not exchanged...NOR is it a good storehouse ov value since its price can be manipulated by the essentially sole owners at will.

JCHarris  posted on  2007-07-15   17:08:04 ET  Reply   Untrace   Trace   Private Reply  


#64. To: All (#63)

In addition, the expansion and contractioon of gold,

Gold cannot be expanded to meet production needs in good times without it simply being fiat.

Likewise it cannot contract during bad times to prevent inflation, which is currency without the counterbalancing productivity.

This gold is a POOR medium and de facto a poor storehouse of value.

Public works are a better storehouse of value and a medium of FISCAL policy to move the monetary needs in the right direction depending on productivity and inventory expansion or contraction.

JCHarris  posted on  2007-07-15   17:14:15 ET  Reply   Untrace   Trace   Private Reply  


#68. To: JCHarris (#64)

Gold cannot be expanded to meet production needs in good times without it simply being fiat.

Sure it can. More gold enters circulation as demand increases. Doesn't happen overnight, but it happens. Market forces require it?

Likewise it cannot contract during bad times to prevent inflation, which is currency without the counterbalancing productivity.

Again, reduced demand would mean cheaper gold for industrial and commercial applications, which would mean no new gold is mined and existing gold currency is removed from circulation. Again, it doesn't happen overnight, but it happens.

I don't suggest a gold monetary system would perfectly guarantee that prices never change for goods and services. They would go up and would go down, but such things would be relatively temporary. As for your alternative, it's major hazard is that it gives a certain bureaucrat somewhere all the power of contemporary bankers, ready to be abused.

Pinguinite  posted on  2007-07-15   20:18:32 ET  Reply   Untrace   Trace   Private Reply  


#70. To: Pinguinite (#68)

More gold enters circulation

duuuhhhhh only if it is mined.....

that is a silly way to expand your economy...or to contract it for that matter...

and the princes own the gold...always have always will....hoarding, no good to ANYONE...

I was buying gold in the 70s .... have traded it successfully....

I stay out of gold most of the time as it is silly and a drag on my portfolio....

JCHarris  posted on  2007-07-15   20:46:25 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 70.

#71. To: JCHarris (#70)

duuuhhhhh only if it is mined.....

duhhh.. no. Gold has many practical uses, jewelry being but one. If it's cheap, gold is absorbed into those uses, out of circulation and the money supply shrinks. If gold is rare, such uses are more restricted and gold can even be converted from those things, such as jewelry, back into money and the money supply expands. The beauty of it is the market both decides how much gold is needed, and provides the incentive for ANYONE to add to or subtract from the economy's money supply. The right is not restricted to a few privileged elite as it is now and would be under your proposal.

and the princes own the gold...always have always will....hoarding, no good to ANYONE...

Well, I own gold and I ain't no prince. So far as anyone has told me, at least.

I stay out of gold most of the time as it is silly and a drag on my portfolio....

If you're trading to make money, sure, stay out of gold. Gold is for people who just want to keep their money safe.

Pinguinite  posted on  2007-07-15 23:25:13 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 70.

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