Erick Tippett

How Central Banks Destabilized the World's Economies

Mr. Jackson,

Though I feel your discourse on the underlying cause of economic problems (world wide as well as here in the United States) is a bit lengthy and perhaps difficult for the average person who really needs to understand its content, your point is well taken indeed. It is my honest opnion that the neurotic worship of Lord/Lady Kenyes' economic philosophy has a great to deal do with our present economic malaise!

The fact that you mention so many individuals (Richard Cantillon,
Benjamin Anderson, C. A. Phillips, T. F. McManus, R. W. Nelson, David
Riccardo, John Stuart Mill) some of whom lived long before Ludwig Von
Mises, one of the founders of the Austrian School of Economics, was
born, certainly must be given weight and consideration as accurate
arguments in the case for economic wealth based upon production and
saving as opposed to credit expansion unchecked!

We also had an economic crisis in 1907 as I recall in which J. P. Morgan
the banking tycoon 'rescued' the banking system with large inlays of
liquidity. This action was followed by a successful plan to bring the U.S.
back into the 'central banking fold' in l913 effectively killing the free mar-
ket system which strangely is blamed by some for the present economic
crisis!

As I've said the people (our American public) who should understand the
particulars of this economic system haven't a clue as to what all this is
about, and tragically so indeed. After all, our majority American Public
continually elect and re-elect the people that put in place the Green-
spans (once an associate of Ayn Rand a famous Austrian Economist),
Bernankes, Paulsons, and Coxs! I sat in disgust as the tally in congress
for passage of the 7Billion dollar bailout showed votes for Republicans,
votes for Democrats, and not one single vote for Independents! No
wonder Ron Paul comes off to the public as some kind of off-beat radical
with crazy ideas about economics and how the world should be! And of
course our brilliant and objective American Press and media have con-
tributed their unseemly and obnoxious influence to the mix.

Unfortunately the fate of this present world system, which could easily slip into a facist world government overnight, (The Swiss are now being and have been pressured by Germany and France into abdicating the
right to privacy of their foreign banking customers that they have extended to all Swiss bank clients for centuries) is in danger of collapse,
depending upon how far the powers that be are willing to go in order to preserve their virulent fiat currency systems (Luis T. Mcfadden U.S. House of Representatives Chairman-later member-of the Committee on banking and finance in the late 1920's was shot at twice on his way into a New York Hotel one day and poisoned in the dinning room there days after he had raged against the illegal acts of the Federal Reserve Board asking for its dissolution and calling for the impeachment of Herbert Hoover! Mr. McFadden was a Republican by the way, not a democrat!).

For those interested in the case of Representative Mcfadden's contro-
versial assertions, Google Search has excellent and accurate account
of the issues and people involved. Misses.org also has excellent
articles and tutorials on economic philosophy including Keynes.

EDT
Chicago, Illinois