6. Dispensing with Monetary Theory (July 27/28)

In this class we will focus on the fallacy of monetary theory as a whole. Monetarism in all of its forms is based on the oligarchical model of Aristotle. Monetarism is nothing other than a system of oligarchical, imperial control. All of the theories of monetarism go back to the British East India Company and its paid ideologues, Adam Smith and Jeremy Bentham. The entire method is to deny human creative as the source of wealth and to define human beings as motivated by primitive drives such as hunger, sex, etc. Adam Smith was the author of the free trade dogma, of buying cheap and selling dear, all governed invisibly by the magic of the marketplace. Bentham defended usury and pederasty. Monetarism including in its more modern expressions by von Hayek (Austrian-British) and John Maynard Keynes (British) is an assault on the U.S. Constitutional principle of the general welfare. Money, truly conceived, is not an end in itself, but rather a credit policy designed to facilitate increases in potential population density. This class will be given by Dennis Speed.

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