Listen now | Ignatius of Maidstone joins to discuss how the decline of western civilization is tied to the Federal Reserve Act of 1913, why gold is real money and much more.
Say I am the Federal reserve, would I be able to print one or 5 trillion dollars, and store them in my basement? I know it is too simplified, but, Say click on my super computer and transfer such money to my account or to Natenyahu's account?
I found this to be an interesting and well-rounded discussion. I'm not an economist or a theologian so please excuse me if anything I say is painful to read. I love how it was included that the only security ultimately is the Orthodox Church. Orthodox monasteries in particular are the longest lasting institutions of any but I am aware of. It is a divine institution, and gold for its altar for the glory of God it's better than gold in a vault for a currency. Inside the temple there is a chance to adorn with material valuables part of what is eternal. This is an investment opportunity that doesn't present itself in any standardized way at least outside of the homes of the Orthodox liturgy. Another point is that in my mind the ultimate value of preservation for future generations is to have more momentum both materially and spiritually to resist the actual beast system which one will need to be entirely excluded from unlike our current situation. I agree that right now it's probably not beneficial to be entirely cut off but there will be a time when there will no longer be any gray areas, or any benefits to being part of what will horrifically be called “civilization.”
Now about Bitcoin I certainly see the appeal of the ideology of decentralization and a set maximum of coins. My concerns much of what was discuss like internet ID and the involvement with banks, but very practically power outages and a bottleneck of computer parts during wartime represent the largest threat in my opinion. Even if there is some Safeguard where you can successfully plug black into the log or whatever, if you actually need something at the time to live the currency would be unavailable to acquire the needed item or service. I understand this is why people like to use Bitcoin profits for hard assets but this brings up my second point
If somebody a regular well-meaning person makes enough money to buy three properties well it only takes one whale to buy three neighborhoods to make it an extreme disproportionate game in the extreme for regular people. I don't understand and this is where I might be a retard economically but I simply cannot see how it's possibly an advantage for anyone if you take that anyone as part of a collective of non Psychopathic Elite people. I only can see it possibly being a gain on an individual scale. That is somebody buys good breeding stock and an awesome silage Silo and some nice pasture and who knows a commodity warehouse for bartering- but again sorry if I'm confusing things would this not just be a debt compared to the value generated for somebody who is a whale? That is by the system existing at all one positive real hard asset in the hands of a regular person is offset by who knows how many real hard assets of a billion dollar psychopath. I know this could be sad for any type of system where there is not a law regulating how much money an individual or company can earn, or how much gold a man can have or how much land for employees and so on, but it seems to me that the volatility of the cryptocurrency exasperates this disparity more then other existing markets. But again I don't really know the details of those existing markets, it's just my gander.
My exit ramp has been something I've been working on for almost 4 years now. My family is already moved and I have that's all of what I have in hard assets over there in Russia, plus blue-collar education- getting my hands dirty and figuring out the nuts and bolts over there. This exit ramp was originally for avoiding covid vaccinations and restrictions that were keeping my family separated. I went over there with about 1,800 and lived a year and a half hacking my way through with just one more tax return before I went back to the states to work for a bit. This is of course a completely retarded thing to do financially because I could have gone back then worked for just a few more months and made up everything. But man I tell you being an idiot I learned how to weld and do masonry and plumbing and electricity out of necessity, and that's what I call education- tuition in the amount of lost wages to learn something yourself or learn from somebody. Anyway I say this because I think somebody with capital and an economic mind should be able seize opportunities or make them from scratch 10x above and beyond what I have. Leaving isn't always the answer (unless you're in the Catholic church or something) but if done in accordance with one's conscience is very viable, if difficult.
If the host or the Ignatious read this far and I went too far down the yellow brick road typing away like a midget on the highest quality crack candy I'll do my best to leave it to one paragraph in the future.
My understanding of banking, which might be completely wrong, is the gold standard was removed in 1970s. Hence fort knox used to be important. Gold standard has very useful theoretical practical standard. But its limited to Gold asset alone.
Fed reserve was created to help prevent the massive bank runs happening prior to 1913.
But the flaw lies in privacy of ownership of fed imo.
But it wasnt first central bank in America.
Im pretty certain Alexander Hamilton (founding father) created a central bank. But it was argued that he was a Rothschild shill by certain politicians.
And when Andrew Jackson war hero became president he went to war with banks. And shut down the central bank.
And introduced a species only system for real assets. And because there was thousands of minor banks and each banks currency was different from next it made it very difficult to trust certain notes.
Anyway America financially collapsed with Jacksons new system. And it created great suffering for ordinary people mostly and growth was stifled.
During civil war the debt levels skyrocketed too when greenbacks were introduced which had terrible consequences.
The scam artist financial dudes made lots of money maybe more without fed.
Banks collapsed so often and peoples savings got sucked into collapse so often that calls to bring back central bank was getting louder in late 1800s.
Most of the predidents ended up poorer by joining government vocation. Grant lost all his wealth due to financial scams despite being president.
The pre fed problems were more extreme. And America growth maybe would never have happened without a rival central bank to Bank of England. if indeed it was a rival bank.
Its definately now a scam system. Maybe always has been. But its function of bank of last resort helped stabilise collapse of minor banks which happened very frequently pre fed.
Fed had precious metal standard and after ww2 lots of broken economies were pegged to American gold standard. But im pretty certain the fiat currency only happened in 1970s
even in james bond goldfinger wanted to steal the fort know gold.
Gold standard has many flaws. the secret society control of fed needs to be rectified imo. War is racket.
savings of long money helps create short loans, but the fractional reserve means a bank can collapse if certain people pull out their savings limiting loans and boom collapse and all reserves collapse.
thats where central bank can fund the gap in liquidity.
Not sure ive explained that well.
Anyway cental bank should be owned by the government imo
Anyway thats my understanding and its possibly very wrong.
In countries where the central banks are owned by the government, there is no significant difference in performance. You still have the problem of a lack of monetary discipline, which specie offers.
I agree, but the problem of limiting money to 1 or 2 assets might prevent serious inflation, but it seriously hinders a growing economy and the speculators can attack the system even more by arbitraging that asset in an external market further shrinking the money supply.
eg
you own a bank
you must back deposits with gold.
i put 10 million into your bank
you need to buy 1 million of gold to back that deposit
Week later i want my 10 million back in gold
you cant pay me
other people hear loss confidence and boom your bank collapses and everybodies money goes up in smoke in the run as bank shuts down and liquidity with that bank ends.
Also the speculators on gold mines can run amok with arbitrage. gold price usually gets fixed in your economy to prevent the inflation problem. but if the sales price of gold is higher outside your economy you can turn your cash into gold sell at profit at higher price elsewhere and boom your economy money supply shrunk again. The speculators run amok without central bank.
Problem is not central bank. Solution is not gold. Problem is speculators and scam artists ripping off the unaware. specie is best i agree. but its very illiquid and hard to get to parts of economy needing it. And fraught with same evils of humanity with or without central bank.
imo government owning central bank function at least makes it a little more transparent and accountable. removing central bank makes life harder for everybody other than large specie owners and limits and often hinders economy much more by fixing currency to that one asset especially in bull market and can exacerabate bear market.
nullifying the inflation problem.
Secrety and transparency of central banks needs fixed and accountability needs enforced when scams are discovered.
But thats what fed did till governement changed it in 1971.
There was not strong economic growth until the fed was created. Fed had gold standard during growth years, but growth years also coincided with collapse of European economies after ww1 and ww2.
Gold standard helps prevent inflation but it creates many many problems including speculator attacks, low liquidity, risks of small banks getting run. And without central bank mobility and security of capital and capital transfer to much needed areas can create even more uneven wealth creation for gold owners.
Ecomony is much bigger than just gold.
limiting currency in circulation to just Gold creates chance of bigger depressions in bad times
And impoverishes ordinary workers who usually only have subsistent wages.
Period after dissolution of second American Central bank under Jackson tanked economy.
American economy had major bank runs creating recover bust recover bust cycle right up to 1913
fed was created by demand as well as occult forces in 1913
But the boom years came after ww1 and ww2 destroyed economies of Europe and America industry to take advantage of the market gap.
But during vietnam war and oil crisis all economies were stumbling. So government not fed created fiat non gold backed currency to loosen the potential of collapse.
But biggest problems have come since total deregulation of banks in 1980s
A gold backed currency now will require purchasing trillions of gold which will sky rocket prices.
All in all i predict a massive reset via ww3 and a loaf of bread might reach price of a brick of gold.
fixing the debt now will not be solved by gold back of currency without massive depression and collapse of society as we know it.
This is entirely ahistorical. Economic growth in the late nineteenth to early twentieth centuries, under the classical gold standard, was tremendously strong. This is basic economic history.
Thank you brother, I very much enjoyed doing this podcast with you.
Say I am the Federal reserve, would I be able to print one or 5 trillion dollars, and store them in my basement? I know it is too simplified, but, Say click on my super computer and transfer such money to my account or to Natenyahu's account?
There would be legal strictures against that sort of thing happening, but in theory, sure that could occur.
I found this to be an interesting and well-rounded discussion. I'm not an economist or a theologian so please excuse me if anything I say is painful to read. I love how it was included that the only security ultimately is the Orthodox Church. Orthodox monasteries in particular are the longest lasting institutions of any but I am aware of. It is a divine institution, and gold for its altar for the glory of God it's better than gold in a vault for a currency. Inside the temple there is a chance to adorn with material valuables part of what is eternal. This is an investment opportunity that doesn't present itself in any standardized way at least outside of the homes of the Orthodox liturgy. Another point is that in my mind the ultimate value of preservation for future generations is to have more momentum both materially and spiritually to resist the actual beast system which one will need to be entirely excluded from unlike our current situation. I agree that right now it's probably not beneficial to be entirely cut off but there will be a time when there will no longer be any gray areas, or any benefits to being part of what will horrifically be called “civilization.”
Now about Bitcoin I certainly see the appeal of the ideology of decentralization and a set maximum of coins. My concerns much of what was discuss like internet ID and the involvement with banks, but very practically power outages and a bottleneck of computer parts during wartime represent the largest threat in my opinion. Even if there is some Safeguard where you can successfully plug black into the log or whatever, if you actually need something at the time to live the currency would be unavailable to acquire the needed item or service. I understand this is why people like to use Bitcoin profits for hard assets but this brings up my second point
If somebody a regular well-meaning person makes enough money to buy three properties well it only takes one whale to buy three neighborhoods to make it an extreme disproportionate game in the extreme for regular people. I don't understand and this is where I might be a retard economically but I simply cannot see how it's possibly an advantage for anyone if you take that anyone as part of a collective of non Psychopathic Elite people. I only can see it possibly being a gain on an individual scale. That is somebody buys good breeding stock and an awesome silage Silo and some nice pasture and who knows a commodity warehouse for bartering- but again sorry if I'm confusing things would this not just be a debt compared to the value generated for somebody who is a whale? That is by the system existing at all one positive real hard asset in the hands of a regular person is offset by who knows how many real hard assets of a billion dollar psychopath. I know this could be sad for any type of system where there is not a law regulating how much money an individual or company can earn, or how much gold a man can have or how much land for employees and so on, but it seems to me that the volatility of the cryptocurrency exasperates this disparity more then other existing markets. But again I don't really know the details of those existing markets, it's just my gander.
My exit ramp has been something I've been working on for almost 4 years now. My family is already moved and I have that's all of what I have in hard assets over there in Russia, plus blue-collar education- getting my hands dirty and figuring out the nuts and bolts over there. This exit ramp was originally for avoiding covid vaccinations and restrictions that were keeping my family separated. I went over there with about 1,800 and lived a year and a half hacking my way through with just one more tax return before I went back to the states to work for a bit. This is of course a completely retarded thing to do financially because I could have gone back then worked for just a few more months and made up everything. But man I tell you being an idiot I learned how to weld and do masonry and plumbing and electricity out of necessity, and that's what I call education- tuition in the amount of lost wages to learn something yourself or learn from somebody. Anyway I say this because I think somebody with capital and an economic mind should be able seize opportunities or make them from scratch 10x above and beyond what I have. Leaving isn't always the answer (unless you're in the Catholic church or something) but if done in accordance with one's conscience is very viable, if difficult.
If the host or the Ignatious read this far and I went too far down the yellow brick road typing away like a midget on the highest quality crack candy I'll do my best to leave it to one paragraph in the future.
This comment could be a post in itself 😂.
I just want to pine in on Bitcoin. I've been learning since 2016 and it is a viable alternative for wealth preservation (+growth) and as a currency.
It is not perfect, but I would strongly recommend for any sovereign minded individual to keep learning.
Separate your learning into three core sections:
1. Technical (how Bitcoin works)
2. Economic (why it works as money)
3. Moral/Spiritual. As an economic system it is congruent with Christ.
Bitcoin was actually a main catalyst for me returning to Orthodoxy after years in the wilderness.
My understanding of banking, which might be completely wrong, is the gold standard was removed in 1970s. Hence fort knox used to be important. Gold standard has very useful theoretical practical standard. But its limited to Gold asset alone.
Fed reserve was created to help prevent the massive bank runs happening prior to 1913.
But the flaw lies in privacy of ownership of fed imo.
But it wasnt first central bank in America.
Im pretty certain Alexander Hamilton (founding father) created a central bank. But it was argued that he was a Rothschild shill by certain politicians.
And when Andrew Jackson war hero became president he went to war with banks. And shut down the central bank.
And introduced a species only system for real assets. And because there was thousands of minor banks and each banks currency was different from next it made it very difficult to trust certain notes.
Anyway America financially collapsed with Jacksons new system. And it created great suffering for ordinary people mostly and growth was stifled.
During civil war the debt levels skyrocketed too when greenbacks were introduced which had terrible consequences.
The scam artist financial dudes made lots of money maybe more without fed.
Banks collapsed so often and peoples savings got sucked into collapse so often that calls to bring back central bank was getting louder in late 1800s.
Most of the predidents ended up poorer by joining government vocation. Grant lost all his wealth due to financial scams despite being president.
The pre fed problems were more extreme. And America growth maybe would never have happened without a rival central bank to Bank of England. if indeed it was a rival bank.
Its definately now a scam system. Maybe always has been. But its function of bank of last resort helped stabilise collapse of minor banks which happened very frequently pre fed.
Fed had precious metal standard and after ww2 lots of broken economies were pegged to American gold standard. But im pretty certain the fiat currency only happened in 1970s
even in james bond goldfinger wanted to steal the fort know gold.
Gold standard has many flaws. the secret society control of fed needs to be rectified imo. War is racket.
savings of long money helps create short loans, but the fractional reserve means a bank can collapse if certain people pull out their savings limiting loans and boom collapse and all reserves collapse.
thats where central bank can fund the gap in liquidity.
Not sure ive explained that well.
Anyway cental bank should be owned by the government imo
Anyway thats my understanding and its possibly very wrong.
In countries where the central banks are owned by the government, there is no significant difference in performance. You still have the problem of a lack of monetary discipline, which specie offers.
I agree, but the problem of limiting money to 1 or 2 assets might prevent serious inflation, but it seriously hinders a growing economy and the speculators can attack the system even more by arbitraging that asset in an external market further shrinking the money supply.
eg
you own a bank
you must back deposits with gold.
i put 10 million into your bank
you need to buy 1 million of gold to back that deposit
Week later i want my 10 million back in gold
you cant pay me
other people hear loss confidence and boom your bank collapses and everybodies money goes up in smoke in the run as bank shuts down and liquidity with that bank ends.
Also the speculators on gold mines can run amok with arbitrage. gold price usually gets fixed in your economy to prevent the inflation problem. but if the sales price of gold is higher outside your economy you can turn your cash into gold sell at profit at higher price elsewhere and boom your economy money supply shrunk again. The speculators run amok without central bank.
Problem is not central bank. Solution is not gold. Problem is speculators and scam artists ripping off the unaware. specie is best i agree. but its very illiquid and hard to get to parts of economy needing it. And fraught with same evils of humanity with or without central bank.
imo government owning central bank function at least makes it a little more transparent and accountable. removing central bank makes life harder for everybody other than large specie owners and limits and often hinders economy much more by fixing currency to that one asset especially in bull market and can exacerabate bear market.
nullifying the inflation problem.
Secrety and transparency of central banks needs fixed and accountability needs enforced when scams are discovered.
There was strong economic growth under the gold standard, so that’s not true.
And speculators being able to attack your currency ensures that the government and banks maintain enough gold on hand, to prevent such attacks.
But thats what fed did till governement changed it in 1971.
There was not strong economic growth until the fed was created. Fed had gold standard during growth years, but growth years also coincided with collapse of European economies after ww1 and ww2.
Gold standard helps prevent inflation but it creates many many problems including speculator attacks, low liquidity, risks of small banks getting run. And without central bank mobility and security of capital and capital transfer to much needed areas can create even more uneven wealth creation for gold owners.
Ecomony is much bigger than just gold.
limiting currency in circulation to just Gold creates chance of bigger depressions in bad times
And impoverishes ordinary workers who usually only have subsistent wages.
Period after dissolution of second American Central bank under Jackson tanked economy.
American economy had major bank runs creating recover bust recover bust cycle right up to 1913
fed was created by demand as well as occult forces in 1913
But the boom years came after ww1 and ww2 destroyed economies of Europe and America industry to take advantage of the market gap.
But during vietnam war and oil crisis all economies were stumbling. So government not fed created fiat non gold backed currency to loosen the potential of collapse.
But biggest problems have come since total deregulation of banks in 1980s
A gold backed currency now will require purchasing trillions of gold which will sky rocket prices.
All in all i predict a massive reset via ww3 and a loaf of bread might reach price of a brick of gold.
fixing the debt now will not be solved by gold back of currency without massive depression and collapse of society as we know it.
This is entirely ahistorical. Economic growth in the late nineteenth to early twentieth centuries, under the classical gold standard, was tremendously strong. This is basic economic history.