It's All About the Benjamins

I read the interview The Hinterland Gazette did with Bill Baker, author of "Endless Money: The Moral Hazards of Socialism,"(readendless.com), and as I read, it became clear that it is really all about the Benjamins. Not the Benjamin, your neighbor, but the guy on the one hundred dollar bill. I have read other economists' opinions and evaluations which indicate that since President Nixon removed the gold backing of the American dollar,the economy seems to have gone to hell in a hand basket.

One thing seems clear to me. We can no longer place our faith and trust in a dollar, whose value exists at the whims and fancies of Wall Street Investment Bankers. Time and experience as well as recent history indicates that people are driven by their egos and selfish desires to want more and more so, they inflate or reduce the value of the currency to match whatever their desire is.

Years ago, I read a book entitled " Who Runs America". It details the actions of the persons who are the silent backers of political candidates. Make no mistake about it, this country is not run by voters who engage in the democratic process every four years. It is actually run by the top two per cent and the presidents of The Federal Reserve Board, who get together and, depending on American public relations overseas, the mood of the country, shifting dynamics, political and social pressure choose a candidate, who best fit the country's mood at the time and through the media, imposes their choice on the American people. These individuals, the book alleges, have vested interests in the economy and prefer the America in which their investments prosper. They use the media to influence our choices and the way we think and engage actively or no in the process of government.

So in 1971, Nixon removed the backing of the dollar from a gold backed currency to paper. Since then we have seen sky-rocketing inflation and the erosion of manufacturing and industrial jobs. In the nineties we embraced a new global economy, one in which American jobs have been exported overseas, all in the name of CEOs and Fund managers reaping fat bonuses. Where was the concern for the middle class?

The economy was left in the hands of Investment Bankers and Fund Managers whose primary interest was in gaining a return on their investment rather than the collective good of keeping the middle class intact. These individuals became more concerned with their own selfish desires to have more and more and not care for the Small Business on Main Street. In the last 20 years, we have witnessed a removal of Mom & Pop operated businesses (which were strong indicators that an active middle class existed).

Without the stability of a middle class, you end up with two classes, the rich and the poor. Hence there will be an increase in crime and loss of opportunities for people of color. What next?

Having read this article, it becomes evident that America has two choices:

1. Join the One World Movement, which will become a reality in the coming years ahead, as the European Union expands its borders and increases its influence on other countries, or,

2. America joins with Canada and Mexico to form the North American union and have one currency.

The thing is we don't have a choice in the matter. In order to be viable, we have to sell our goods and services overseas. If no one buys from us, we have no income.If we have no income, we cannot continue to provide services to our citizens.

So what Nixon did in 1971 effectively set the stage for what is to come. Now, each of us needs to engage in the process, and actively ask our elected representatives questions and demand answers. Secondly, we each have to absorb some level of personal financial responsibility, by not spending everything we earn. We need to borrow less and save more. It means we need to stop using high interest credit cards, or stop using them period. In other words, if you don't have the cash, don't buy it.

Too many us are still paying off credit cards for clothes we have stopped wearing, couches, the dog has peed on and we have thrown out, toys the kids no longer use and gadgets that have been replaced by the latest and newest thing. If we don't stop the spending, what will our future be like?

I suggest that we need to be more educated on the economy and the various factors affecting it. Once you have the information, we will be better able to make choices that will affect our future. It really is all about the Benjamins.

To listen to the interview, CLICK HERE.

Support the Harriet Cammock Ministries, CLICK HERE.