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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  • Dennis Speed
    followed this page 2018-07-28 14:22:56 -0400
  • Diane Sare
    followed this page 2018-07-28 14:22:41 -0400
  • Anthony Wicher
    commented 2018-07-28 14:15:33 -0400
    What will a new international financial system look like? We speak of a “new Bretton Woods”. What agreements between nations are necessary? For example, one feature of the old Bretton Woods system was agreed, fixed exchange rates. At the same time we affirm the sovereign right of every nation to control its own money supply in its own national interest. What would prevent any country from printing a lot of currency that could then be exchanged for other currencies?