Modern banking Ponzi scheme outstrips natural resources, John F Kennedy quotes

Private banker controlled economic policy since 1694 unto today has acted as though the worlds resources are infinite and can always be loaned forward against. Until the industrial revolution it was probably fair to think as much with so much available natural resources being under utilised, but today we have reached the time when demand is nearly reaching available supply, thus much more consideration has to be given to just how much more can be loaned forward against resources we have left, and just how much more population resources left is going to sustainably support.
One thing is for sure the time of the international banking system being based on a legalised upgrade of the old Goldsmiths banking scam, loaning massive amounts of created credit forward against the future utilisation of natural resources, and this PONZI scheme remaining in the hands of some of histories most questionable family legacies is well and truly over or the words of the late John F Kennedy in a 1963 speech to the UN might well come true:
 
“The contest will continue–the contest between those who see a monolithic world and those who believe in diversity–but it should be a contest in leadership and responsibility instead of destruction, a contest in achievement instead of intimidation. Speaking for the United States of America, I welcome such a contest. For we believe that truth is stronger than error–and that freedom is more enduring than coercion. And in the contest for a better life, all the world can be a winner.

The effort to improve the conditions of man, however, is not a task for the few. It is the task of all nations–acting alone, acting in groups, acting in the United Nations, for plague and pestilence, and plunder and pollution, the hazards of nature, and the hunger of children are the foes of every nation. The earth, the sea, and the air are the concern of every nation. And science, technology, and education can be the ally of every nation.

Never before has man had such capacity to control his own environment, to end thirst and hunger, to conquer poverty and disease, to banish illiteracy and massive human misery. We have the power to make this the best generation of mankind in the history of the world–or to make it the last.”

JFK could have been reading this from the 1956 Report of the 1955 (NZ) Royal Commission on Monetary, Banking, and Credit Systems

 Page 87
ASSESSMENT OF THE PRESENT MONETARY, BANKING, AND CREDIT SYSTEMS
359, No complex modern economic system could function without the generally acceptable medium of exchange, measures of relative values, and store of purchasing power for the future, which money provides. Nor could a modern economic system based primarily on the institution of private ownership and enterprise survive without a large volume of credit. Money, Banks, and Credit, in one form or another, are vital to the continued operation of the economy of a modern community.
360. In assessing the present monetary, banking, and credit systems, it is necessary not to overestimate what could be achieved even by a perfect and farsighted monetary and credit policy. The monetary, banking, and credit systems are only some of the many factors which determine the material standard of living which a country can achieve. More important are:
( a ) The proportion of the population able and willing to work.
( b ) The quality of the labour force, which includes all those engaged in production; their knowledge of advanced techniques; their ability to devise better methods of production and distribution (which implies a high standard of education and the devotion of a proportion of our energies to research); and their willingness to apply their minds and hands to production and distribution (which involves good relationship between management and workers, incentives to work and a willingness to make and accept innovations.
( c ) The quantity and quality of natural resources available in the country.
( d ) The buildings, equipment, roads, schools, pastures, stock, and so on, that is the social and material capital built up in the past.
( e ) The ability and willingness of the people to maintain, improve and add to capital.
( f ) The terms on which a country exchanges goods and services with other countries.

361. There is at every point of time a limit to the amount which any country can produce or can obtain by overseas trade for distribution among its citizens. This limit cannot be escaped by any manipulation of monetary, banking, and credit systems, but only by increasing the proportion of workers, improving the quality of the labour force, making better use of natural resources, increasing quantity and quality of the countries capital, or by an improvement in the terms on which goods and services are exchanged with other countries.
362. Even a perfect monetary system could not prevent some instability or insecurity in a world where new or improved products, services, and techniques are constantly being devised, and where individuals and firms are allowed a large degree of freedom to choose how they are going to dispose of their money. The implications of this freedom of this freedom of choice do not seem to be fully appreciated by many people. When these implications are examined, what is surprising is not that the economic system suffers from fluctuations from time to time, but that the fluctuations are not more severe.
Page 89
368. The most that can be expected from the monetary, banking, and credit systems is that they should certainly not aggravate these natural instabilities; and that they should be capable of being used to assist in the economic adjustments which are necessary to enable society to reap the benefits, while countering any drawbacks, of technical and economic changes.
369. The main critisisms of the present monetary, banking, and credit systems made before the commission were:
( a ) That they had held down the standard of living of the country, because they did not provide sufficient purchasing power for people to buy the goods and services which could be produced.
( b ) That they had failed to provide the community with money which remained stable in purchasing power.

Page 90
373. In our view, no radical reform of the existing systems is necessary, although we consider that their administration could be considerably improved.
375. Nevertheless, we believe that the authorities have permitted spending to expand unduly from time to time, with the result that there has been excessive competition for limited supply of labour and resources available, a greater rise in cost and prices than was justified by external factors alone, and recurrent balance of payment difficulties despite large current earnings of overseas exchange and improved terms of trade.
376. A major factor contributing to the unduly high domestic spending was a large increase in the volume of money. In turn, one of the factors leading to this increase in the volume of money was an expansion of bank advances. This was not a particularly significant factor up till 1949; but advances were expanded excessively during the period from 1949 to 1952 and again in the period 1954-55.
377. The question arises why the undue expansion of advances during these two periods was not prevented by the monetary authorities:
( a ) Are there inherent weaknesses in the methods of control available to the monetary authorities?
( b ) Have the methods available been used?
( c ) Have they been used with sufficient speed and resolution?
( d ) Have the policies of the monetary authorities been frustrated by factors outside their control?
378. Variations of the statutory minimum reserve ratios and the interest rate on advances to the trading banks, the major methods of control available to the monetary authorities, have special limitations arising from New Zealands banking and economic system. We outline later in the report some of these limitations. But we are convinced that the failure of the monetary policy to prevent an undue expansion of advances in recent years has not been due primarily to weaknesses inherent in the reserve ratio system. The main reasons for failure have been:
( a ) Tardiness in making use of the reserve ratios while direct controld were being relaxed a few years after the war.
( b ) Reliance by the authorities:
( 1 ) On voluntary co-operation from competitive trading banks which was not fully forthcoming; and
( 2 ) On the theory that leaving the banks with only a narrow margin of free cash would induce them to restrict lending.
( c ) Insufficient speed and resolution in effectively applying the reserve ratio controls to changing conditions.
( d ) Lack of co-ordination between policies designed to control bank advances on one hand, and fiscal, capital issues, interest rate, and housing-finance policies on the other.

END

 I believe there is sufficient left of the fledgling international democratic structure for the basically decent majority of global businesses and citizens, who just want to get from one end to the other with dignity intact, to force a diplomatic revival of common decency.

This also from John F Kennedy, a man who had dedicated himself to bringing the slaveminded elitist elements of America under control:

 ”Let us examine our attitude toward peace itself. Too many of us think it is impossible. Too many think it unreal. But that is a dangerous, defeatist belief. It leads to the conclusion that war is inevitable–that mankind is doomed–that we are gripped by forces we cannot control.

     We need not accept that view. Our problems are manmade–therefore, they can be solved by man. And man can be as big as he wants. No problem of human destiny is beyond human beings. Man’s reason and spirit have often solved the seemingly unsolvable–and we believe they can do it again……………..
But wherever we are, we must all, in our daily lives, live up to the age-old faith that peace and freedom walk together. In too many of our cities today, the peace is not secure because the freedom is incomplete.

     It is the responsibility of the executive branch at all levels of government–local, State, and National–to provide and protect that freedom for all of our citizens by all means within their authority. It is the responsibility of the legislative branch at all levels, wherever that authority is not now adequate, to make it adequate. And it is the responsibility of all citizens in all sections of this country to respect the rights of all others and to respect the law of the land.”