A post by Maynard
How many of you know what a bank actually does? Sure, you visit one to deposit or borrow money, but what is money? Where does it come from? Does money have any true value beyond the promise or command of the authority that printed it?
Have I lost you yet? Okay, this may look boring, but bear with me. You need to have some notion of how an economy works if you want to be more than just a rah-rah cheerleader for capitalism. The blockheads in Washington rely upon an ignorant public to acquiesce to their destructive ideas.
Please take a peek at this introduction to macroeconomics. It’s an easy read because it’s a comic book. I promise it won’t go over your head.
Click to view Irwin Schiff’s “How an Economy Grows and Why It Doesn’t”.
A few words of background are in order. Irwin Schiff is a hard-line libertarian and a tax protester. He is currently in jail for refusing to file income taxes. I am not endorsing his actions, and I’m sad to see him get to this point. Do not follow his example.
Schiff’s pamphlet is not the final word on economics, and you may take issue with some of his assertions. But reading it will give you a sense of the big picture that most people are lacking. For starters, you’ll probably have a clearer understanding of the futility and waste of those government “stimulus” checks.
Irwin Schiff’s website, sending us warm greetings and commentary from his prison cell, is at PayNoIncomeTax.com. (Please again note that I am not endorsing everything Schiff says, and I’m certainly not endorsing his tax protest.) Not being in a position to profit from them, Schiff has released a number of his copyrighted works, including this one, onto the web in his great giveaway.
By the way, “How an Economy Grows” is a comic portrayal of a chapter in Schiff’s larger (text) book, The Biggest Con: How the Government is Fleecing You (available at a discount price on Schiff’s giveaway page). It’s a sort of economic history of America viewed through libertarian eyes, and quite interesting.
awesome post. Its funny during the election, i would hear obama zombies constantly tell me (the economy is the main issue). But when id actually start talking basic economics (they would change the subject). Yes, funny thing was the obama zombies didnt count on talking to a person who actually understood basic economics.
Great post. Thanks.
I had a former Business Management professor pull me aside once because I was going round and round about how our economy and currency works. (i guess I dont have a poker face).
He recommended an excellent book. “The Creature from Jekyll Island” by Edward Griffin.
It not only speaks to the economic model and our fiat currency but how the Federal Reserve was established.
IMHO, it should be required reading in High School; but I wont hold my breath.
Book review: The Creature from Jekyll Island by G. Edward Griffin
[FWIW, here’s an Amazon link —Maynard]
At the beginning it’s an extremely good primer on the subject because it makes abstract concepts concrete.
Toward the end it becomes a little bit more of a paranoid goldbug rant about central banking, etc., but even then makes legit points because most people are completely ignorant of the subject.
[I agree with DaveJ’s evaluation: The foundation is solid while some of the conclusions are arguable. But the main idea is to help people think for themselves, which this does a great job of. —Maynard]
Thanks Maynard.
It’s worth sharing.
OT, Tammy hope you’re ok in the LA area where the fires are raging.
Feebie, next I assume you’re going to start talking about the Bavarian Illuminati, if not the Protocols of the Elders of Zion. Legitimate criticism is undermined, not helped, by diversions into the land of insane conspiracy theories.
See also: Thomas Sowell’s Basic Economics and Henry Hazlitt’s Economics in One Lesson
Now, “just a rah-rah cheerleader for capitalism”, eh? Be careful of talking down to the Village Peeps, my pet Maynard. We might have to teach you a lesson. But I’m sure you’d enjoy it.
[Promises, promises… —Maynard]
Thanks for the post. Really enjoyed it and worth passing along!
I am so upset at my own ignorance! I can’t believe how stupid I was and how I ate the brain-washing I recieved in school, hook-line-and-sinker.
Never once did I fully understand how dumb the FDIC, or any government welfare, REALLY is. The government doesn’t have money to pay anyone so it must tax (steal), borrow against the people’s savings (theft of the nation’s capital that could be used to create wealth), go into debt with the world (steal from the future), or print worthless dollars (FRAUD) that causes inflation and steals from everyone. They’re doing all four!
God, bless you, Maynard. I can’t be on the sidelines anymore. I’m going to get involved in conservative activism.
Thanks Maynard.
It was well worth the read, and thank you for posting TB.
That comic book or pamphlet should be given to every government employee and elected official, there is absolutely no doubt in my mind, most all, could benefit from the simplicity. Nah, probably not.
David J – to “assume” makes an a$$ out of “u” and “me”, no?
I dont know who the Bavarian Illuminati is exactly or any conspiracy theory. It was a book suggested to me by a management teacher of mine.
Perhaps, before Jumping to Conclusions, you may consider being a little kinder with your accusations.
I appreciate the critical observation of how this book may be one sided. As far as conspiracy theory, looks like you may know more about that than I do.
good day.