The Economic Crisis and What Must be Done

The United States does not control its own destiny. Rather it is controlled by an international financial elite, of which the American branch works out of big New York banks like J.P. Morgan Chase, Wall Street investment firms such as Goldman Sachs, and the Federal Reserve System. They in turn control the White House, Congress, the military, the mass media, the intelligence agencies, both political parties, the universities, etc. No one can rise to the top in any of these institutions without the elite’s stamp of approval.

This elite has been around since the nation began, becoming increasingly dominant as the 19th century progressed. A key date was passage of the National Banking Act of 1863, when the system was put into place whereby federal government debt was used to collateralize bank lending. Since then we’ve paid the freight through our taxes for bank control of the economy. The final nails in the coffin came with the passage of the Federal Reserve Act of 1913.

In 1929 the bankers plunged the nation into the Great Depression by constricting the money supply. With Franklin D. Roosevelt as president, the nation struggled through the decade of the 1930s but did not pull out of the Depression until the industrial explosion during World War II.

After the war came the Golden Age of the U.S. economy, when the working man, protected by strong labor unions, became a true partner in the prosperity of the industrial age. That era lasted a full generation. The bankers were largely spectators as Americans led the world in exports, standard of living, science and space exploration, and every measure of health, longevity, and culture.

Roosevelt had kept the bankers subservient to the interests of the economy at large. The Federal Reserve was part of the New Deal team, and interest rates were held at historic lows despite a large federal deficit. One main impact was the huge increase in home ownership. After World War II, the G.I. Bill allowed home ownership to grow further and millions of veterans to attend college. The influx of educated graduates led to productivity growth and the emergence of new high-tech industries.

But the bankers were laying their plans. In the early 1950s they got the government to agree to allow the Federal Reserve to escape its subservience to the U.S. Treasury Department and set interest rates on its own. Rates rose throughout the 1950s and 1960s. By the time of the interest rate hikes of 1968, the economy was slowing down. Both federal budget and trade deficits were beginning to replace the post-war surpluses. High interest rates were the likely cause.

In 1971, President Richard Nixon removed the dollar’s gold peg, allowing the huge inflation resulting from oil price increases that the international bankers engineered through control of U.S. foreign policy when Henry Kissinger was national security adviser and secretary of state. Nixon’s opening to China resulted in early agreements, also overseen by banking interests, to begin to transfer U.S. industry to overseas producers like China which had cheap labor costs.

By the mid-1970s, the U.S. had been taken over by a behind the scenes coup-d’etat that included events in 1963 when President John F. Kennedy was assassinated by a conspiracy that could only have been instigated by the highest levels of world financial control. In the election of 1976, David Rockefeller succeeded in placing fellow Trilateral Commission member Jimmy Carter in the White House, but Carter upset the banking community, thoroughly Zionist in orientation, by working toward peace in the Middle East and elsewhere.

I was working in the Carter White House in 1979-80. Unbeknownst to the president, Federal Reserve Chairman Paul Volcker, another Rockefeller protégé, suddenly raised interest rates to fight the inflation the bankers had caused by the OPEC oil price deals, and plunged the nation into recession. Carter was made to look weak and uninformed and was defeated in the election of 1980 by Republican candidate Ronald Reagan. It was through the “Reagan Revolution” that the regulatory controls over the banking industry were lifted, mainly in allowing the banks to use their fractional reserve privileges in making mortgage loans.

Volcker’s recession shattered American manufacturing and hastened the flight of jobs abroad. Under the “Reagan Doctrine,” the U.S. military embarked on an unprecedented mission of world conquest by attacking one small nation at a time, starting with Nicaragua. Global capitalism was also on the march, with the U.S. armed forces its own private police force. With the invasion of Iraq under George H.W. Bush in 1991, mainland Asia was revealed as the principle target.

The economy was floated by productivity gains through computer automation and a huge sell-off of assets through the merger-acquisition bubble of the late 1980s which ended in a recession. This resulted in the defeat of Bush by Bill Clinton in the election of 1992. Clinton was able to create another bubble through a strong dollar policy that attracted foreign capital.

The dot-com bubble that resulted lasted all the way through to the crash of December 2000. Meanwhile, the U.S. Air Force led the way in the destruction of the sovereign state of Yugoslavia, whereby the international bankers took over the resource wealth of the entire Balkan region, and the U.S. military gained forward bases for further incursions into Asia.

Do we need to say that none of this was ever voted on by the American electorate? But they bought into it nevertheless, both with their silence and through participation in a generally favorable job market in the emerging service occupations, particularly finance.

By the time George W. Bush was inaugurated president in January 2001, the U.S. was facing a disaster. $4 trillion in wealth had vanished when the dot.com bubble collapsed. NAFTA caused even more American manufacturing jobs to disappear abroad. The Neocons who were moving into key jobs in the Pentagon knew they would soon have new wars to fight in the Middle East, with invasion plans for Afghanistan and Iraq ready to be pulled off the shelf.

But the U.S. had no economic engine available to generate the tax revenues Bush would need for the planned wars. At this moment Chairman Alan Greenspan of the Federal Reserve stepped in. Over a two year period from 2001-2003 the Fed lowered interest rates by over 500 basis points. Meanwhile, the federal government removed all regulatory controls on mortgage lending, and the housing bubble was on. $4 trillion in new home loans were pumped into the economy, much of it through subprime loans borrowers could not afford.

The Fed began to put on the brakes in 2003, but the mighty work of re-floating a moribund economy had been accomplished. By late 2006 another recession loomed, but it would take two more years before the crisis of October 2008 brought the entire system down.

The impact on the job market was immediate and profound. By the time Barack Obama was elected president in November 2008, the U.S. was mired in seemingly endless wars in Afghanistan and Iraq, and the worst recession since the Great Depression was picking up speed. In order to prevent total disaster, the Bush administration ended its eight years of catastrophic misrule with a flourish, by allocating over $700 billion in financial system bailouts to cover the bad loans the banks had been making since Greenspan gave the housing bubble the green light.

It is now November 2009. Since Barack Obama was inaugurated in January, unemployment has soared from 7.9 percent to 10.2 percent. A few hundred billion dollars were allocated for “stimulus” purposes, but most of that went to pay unemployment benefits and to keep state and local governments from laying off more employees.

A fraction has been distributed for highway improvements, but largely through the bank bailouts the federal deficit has been running at an annual rate of $1.5 trillion, by far the largest in history, with the national debt now topping $12 trillion. Ironically, those Americans who still have productive jobs continue to grow in efficiency, with productivity up over five percent in the last year.

So much federal money has been spent that the Obama administration has been struggling to make its health care proposals budget-neutral through a raft of new taxes, fees, and penalties, and by announcing in recent days that the government’ first priority must now shift to deficit reduction. The word “austerity” has been mentioned for the first time since the Carter administration. Yet Congress voted $655 billion in military expenditures to continue fighting in the Middle East. A U.S. military attack on Iran, possibly in conjunction with Israel, would surprise no one.

So where do we now stand?

At present, the Federal Reserve is trying to prevent a total economic collapse. Interest rates are near-zero, to the chagrin of foreign investors in U.S. Treasury securities, and close to half of new Treasury debt instruments have been bought by the Federal Reserve itself as a way of providing free money for federal government expenditures.

But the U.S. economy shows no signs of coming back, with no economic driver emerging that could bring it back. For all the talk about alternative energy, there has been no significant growth of any home-grown industry that could possibly make up so much lost ground in either the short or the long-term.

The industries in the U.S. that are holding up are the military, including arms exports, universities that are attracting large numbers of students from abroad, especially China, and health care, especially for the aging baby boomer population. But the war industry produces nothing with a long-term economic benefit, and health care exists mainly to treat sick people, not produce anything new.

None of this provides a foundation that can bring about a restoration of prosperity to 300 million people when the jobs of making articles of consumption are increasingly scarce. On top of everything else, since government inevitably looks to its own requirements first, the total tax burden continues to increase to the point where the average employee now pays close to 50 percent of his or her income on taxes of all types, including federal and state income taxes, real estate taxes, payroll taxes, excise taxes, government fees, etc. Plus the cost of utilities continues to rise steadily and threatens to skyrocket if cap-and-trade legislation is passed.

The Obama administration has no plans to deal with any of this. They have projected a budget for 15 years hence that shows the budget deficit decreasing and tax revenues going way up, but it is all lies. They have no roadmap for getting us there and no plans for following the roadmap if it portrayed a realistic goal. And yet the U.S. military is still trying to conquer Asia. It is madness.

And it is madness because the big decisions are not made by the U.S., by Congress, or by the Obama administration. The U.S. has, for half-a-century, been marching to the tune played by the international financial elite, and this fact did not change with the election of 2008. The financiers have put the people of this nation $57 trillion in debt, according to the latest reports, counting debt at the federal, state, business, and household levels. Interest alone on this debt is over $3 trillion of a GDP of $14 trillion. Failure of our political leadership to deal with this tragedy over the past three decades is nothing less than treason.

But then again, at some point the decision was made that the U.S. and its population would be discarded by history, the economic status of the nation reduced to a shadow of what it once was, but that its military machine would be used for the financial elite’s takeover of the world until it is replaced by that of some other nation. All indications are that the next country up to bat as military enforcer for the financiers is China.

There you have it. That, in my opinion, is the past, present, and future of this nation in a nutshell. Great evils have been done in the world in the last century, and there is nothing anyone can do about it.

Except…. and that’s what each person caught up in these travesties must decide. What are you going to do about it?

In mulling over this question, it would be wise to recognize that the dominance of the financial elite has largely been exercised through their control of the international monetary system based on bank lending and government debt. Therefore it’s through the monetary system that change can and must be made.

The progressives are wrong to think the government should go deeper in debt to create more jobs. This will just create an even deeper hole of debt future generations will have to crawl out of.

Rather the key is monetary reform, whether at the local or national levels. People have lost control of their ability to earn a living. But change could be accomplished through sovereign control by people and nations of the monetary means of exchange.

This control has been stolen. It is time to take it back. One way would be for the federal government to make a relief payment to each adult of $1,000 a month until the crisis lifted. This money could be earmarked for goods and services produced within the U.S. and used to capitalize a new series of community development banks. I have called this the “Cook Plan.”

The plan could be funded through direct payment from a Treasury relief account without new taxes or government borrowing. The payments would be balanced on the credit side by GDP growth or be used by individuals to pay off debt. It would be direct government spending as was done with Greenbacks before and after the Civil War without significant inflation.

Another method increasingly being used within the U.S. today is local and regional credit clearing exchanges and the use of local currencies or “scrip.” Use of such currencies could be enhanced by legislation at the state and federal levels allowing these currencies to be used for payment of taxes and government fees as well as payment of mortgages and other forms of bank debt. The credit clearing exchanges could be organized as private non-profit regional currency co-operatives similar to credit unions.

These would be immediate emergency measures. In the longer run, sovereign control of money and credit must be returned to the public commons and treated as public utilities. This does not mean exclusive government control to replace bank control. As stated previously, it would be done in partnership between government and private trade exchanges. Nor does it mean government takeover of business, industry, or the banking system, though all should be regulated for the common good and fairly taxed.

This program would lead to a new monetary paradigm where money and credit would be available by, as, when, and where needed, to facilitate trade between and among legitimate producers of goods and services. In this way trade and commerce will come to serve human freedom, not diminish it as is done with today’s dysfunctional partnership between big government trillions of dollars in debt and big finance with the entire world in hock.

Such a change would be a true populist revolution.

© 2009 by Richard C. Cook

Richard C. Cook is a former federal analyst who writes on public policy issues. He is an advisor to the American Monetary Institute on its model monetary reform legislation soon to be introduced in Congress. His latest book is We Hold These Truths: The Hope of Monetary Reform. His website is www.richardccook.com.


38 Responses

  1. [...] Richard C. Cook Featured Writer Dandelion Salad richardccook.com November 23, [...]

    Pingback by The Historical Roots of the Economic Crisis – The Cure: Montary Reform by Richard C. Cook « Dandelion Salad on November 23, 2009
  2. And you really think the Zionist Bankers are going to roll over, play dead, let any State or official do what you are suggesting at the end. Maybe you think Americans are still soverign and people are free to do so under the trashed Constitution. You need a reality check Mr. Cook. Why not spend some time here: http://www.how911wasdone.com and do a search for underground cities, Ring of Power and Phil Schnieder so your next write up will have some reality in it.

    Comment by Syrian Nationalist Party on November 23, 2009
  3. It’s hard to beat Richard C. Cook for a general overview of how we got into this financial imbroglio–the summary from 1863 till now makes a fine article by itself; add Cook’s suggestions for a way out–a truly democratic, populist-revolutionary way out–and you’ve got an article worthy of wide circulation, discussion and continual reference.

    “Progressives” who think we can wish our way to a more sensible, more peaceful world, subscribing to simplistic jargon and formulae like “change we can believe in” (just what the hell does that mean?) have succumbed to the hypnosis of the mass media and are victims of their own ignorance–willful and pathetic. We cannot separate our political system from our money system: money subsumes all else.

    Cook is a small-”d” democrat: an idealist the way Thomas Paine, Thoreau, Tolstoy, Gandhi, and, for that matter, Jesus Christ, were idealists: he knows we are all siblings in the adventure of life and that we have a moral obligation to assist one another.

    His moral tutelage would be sufficient in itself to elevate his work to the highest consideration of those who understand: life is real; life is serious; and the goal is not the grave. With the addition of his reasoned, pragmatic advice and programs for monetary reforms, we profit from an intellect daring to ask big questions, disentangle the many strands of our confusion and tie those strands together again into a global Weltenschauung that is humane and feasible, even salvational, connecting each to each and all to all.

    Comment by Gary Corseri on November 24, 2009
  4. As long as there is a profit motive associated with a function which should fall within the rubric of the public weal there will be a parasite class and a victim class. The only sensible solutions would have to view a banking system as what it is: a nescessary evil, and strictly regulate it, with absolute transparency. Allowing things to remain as they are is like feeling safe in building a donut factory with its doors opening onto Richard Simmons’ studio.
    In fact, we need to arrest the hoodlums who have ransacked our economy, get as much of our money back as we can, and pass a constitutional ammendment which mandates life in prison for any person found to be guilty of attempting to establish another “national” bank. Oh, and while we’re at it, abolish corporate personhood, which allows real people to thumb their noses at personal responsibility. Sheeesh! Who comes up with this crap?(not a rhetorical question)

    Comment by C. Davis on November 24, 2009
  5. But what about Somali Ambassador to Canada and Switzerland,Leo Wanta and some $27 Trillion?

    Comment by sadasivan on November 24, 2009
  6. [...] Source: http://www.richardccook.com/2009/11/23/economic-crisis-what-must-be-done/ [...]

    Pingback by The Economic Crisis and What Must be Done « NWO Observer on November 24, 2009
  7. Most thinking people know the financial elites are responsible for our trashed economy and seemingly endless wars. I think Mr Cook has done a fine job in pointing out not only the cause of our current problems, but also suggesting some solutions. For this he has my respect.

    Comment by Steve on November 24, 2009
  8. Thank you for your great contributions far past the efforts of the controlled media.

    Starting community banks is a good idea. Seems though the whole thing hinges upon congress and the senate to get the ball rolling. However, Doesn’t the Elite Banksters have them by the short hairs?

    My limited brain has pondered the “what can be done?” scenario as well…

    I think we ought to burn them out and take from them all ill gotten gains; all their family jewels piled up for over three centuries.

    Those who can and have the means should terminate the global control the elites have with extreme prejudice… This must be grass roots effort as all military and government is under control of those who own the system…

    It’s war… I didn’t start it. I just see it.

    I totally understand you desire to do things without undo violence… but, keep in mind these elites have created and funded every major war in the last 300 years… Hundreds of millions dead is nothing to them.. and I have read where more death is on the way via population control..

    Take Care~Mark, P.S. these ideas are only ideas, I am way too old to do anything except think and bullshit…

    Comment by Mark on November 24, 2009
  9. [...] Richard Cook hat tip: Richard C. Cook blog The United States does not control its own destiny. Rather it is controlled by an international [...]

    Pingback by The Liberty Voice » Lead Story » The Economic Crisis and What Must be Done on November 24, 2009
  10. Excellent article Richard.

    It used to be that once investment in this country meant borrowing money to increase manufacturing capacity, research and development, improve distribution etc. All of these efforts created wealth for the companies, and ultimately the nation.

    Now investment monies are used for mergers and acquisitions that create no wealth. They create immense riches for those involved in the process, but nothing for the nation. Our financials no longer invest, they gamble. They make their profits not on growth, but by selling high and buying low, manipulation through massive naked shorting, computerized mass trades, access to client trades just before execution, derivatives, and other fraudulent and unproductive endeavors.

    Your call for implementing change by changing the money system makes a lot of sense.

    BEWARE: there is a potential threat lurking that may take this corrupt system to an even higher level. The Supreme Court is getting ready to rule on whether corporations have the same freedom of speech rights as individuals. If they rule that they do, then there will be no limit to corporate meddling in our political system. if you things are bad now with limits, wait until the corporate donations have been “deregulated”.

    If this happens, this will prove one of those defining crossroads where a nation takes a turn for either the better or the worse. It is obvious, which such a decision would bring.

    Comment by rudya on November 24, 2009
  11. Ron Paul for President. When you Yanks missed this opportunity, you left your country to slide into oblivion from which it shall never return.

    Comment by Mike Boileau on November 24, 2009
  12. There is only one way to get rid of the Jew bankers who have brought all this evil upon us: get rid of them all! Send them to Isra-hell or some other country. Everytime they show up in a country, that country goes downhill-and quickly! What they never reveal is the fact that they are Lucifer’s children. “By their works ye shall know them!”

    Comment by Cat Callahan on November 24, 2009
  13. The Economic Crisis and What Must be Done: by Richard C. Cook…

    The U.S. economy shows no signs of coming back, with no economic driver emerging that could bring it back. For all the talk about alternative energy, there has been no significant growth of any home-grown industry that could possibly make up so much l…

    Trackback by www.buzzflash.net on November 24, 2009
  14. The total bankruptcy and instability of the economic and political system is intentional and impossible to throw off without nuclear war. The objective is Feudalism. One vast global Tsarist Russia. If nation states will not stand up and fight, populations in them have no chance.

    Comment by Stegiel on November 24, 2009
  15. I like the explanation… but I don;t think we’ll ever be freed from the shackles… just try and make the best of enslavement

    Comment by Rob on November 24, 2009
  16. The power to issue money is the “Organizing principle” of an advanced society as we live in.

    Money itself is an “Abstract receipt of labor.”

    Mr. Cook has pointed out that even with smaller numbers of folks in the labor force, productivity has increased in the last year by 5%.

    Technology is increasing productivity and enhancing labor in a continuous manner, and has the potential to produce as much as is needed.

    Rather than jobs, it is clearly the income issue that is what needs to be put into the spotlight. His “Cook” plan, for the payment of $1000 a month for everyone in the nation sounds real good. Puts money into circulation and helps absorb some of the excess capacity available to industry and helps ordinary people at the same time.

    Punitive actions against the central bankers and their clique would send us in the wrong direction. Punishment is retrograde.

    Merely taking control of the power to issue money will head us in the correct direction, it will allow us to fund the shut down of the nuclear war machine and retire its operators. That needs to be at the top of the list of things to do.

    Mr. Cook has also suggested the creation of an equal branch of government along with the Legislature, Executive and the Judiciary, a department of economics. That sounds like another winner useful for the long term stability and expansion of the economic structure.

    Comment by Patrick Sullivan on November 24, 2009
  17. [...] CONTINUED…………………………………………… [...]

    Pingback by The Economic Crisis and What Must be Done « THE INTERNET POST on November 24, 2009
  18. Richard, your article “The Economic Crisis and What Must be Done” does not address the FACT that the central bank (a/k/a Federal Reserve System) has basically STOLEN the wealth out of the United States. The “money” it has created is completely worthless without the process of hypothecation, by which it becomes of value when backed by every piece of property in the country. The FRS has used the credit of private individuals to make their “money” valuable, and thus have essentially stolen the wealth of those individuals. Now, what to do about it? Cause the international bankers who own the FRS to cancel the phoney and fraudulent “debt”, and get the congress to comply with their constitutional duty to issue the nation’s currency and spend it into circulation without debt. THAT it the ONLY solution to this financial yoke imposed upon every citizen in this nation by the international banking cartel.

    Comment by John on November 24, 2009
  19. No amount of money tricks will save the world economy, its brain dead on a resuscitator.

    In the next few months or perhaps a year a total economic blowout will hit all of humanity. Our investments, properties will be rendered worthless overnight.

    We are standing on the abyss of total chaos, starvation and pestilence.

    The only thing that will save the world is to recharter the American National Bank. A bank for the people and by the people.
    Cancer the debts and start over, and start putting us all back to work growing food and producing essential goods for the benefit of mankind.

    Comment by stephen on November 24, 2009
  20. I vote for the Cook plan. However, there’s no reason to wait for the gov. (State, Fed or Local) to approve it. We must be our own hero’s in today’s world.
    See
    http://www.Berkshares.org (popular local currency)
    http://ccmag.net (community currency magazine)
    http://loom.cc (accounting and clearing of value backed units)

    Mark
    editor@dgcmagazine.com

    Comment by Mark Herpel on November 25, 2009
  21. It is true that the power must be taken back by congress to issue our money,but local scrip would serve to weaken the FEDS control and manipulation of/over the economy,allowing an opportunity for congress to take back it’s constitutional responsibilities.Although I really don’t think they can be trusted not to say “what’s in it for me?”,which is why this all happened in the first place,isn’t it?.
    In the beginning everything was there for the taking,all one had to do was go get it.

    Comment by robert the hostile bicyclist on November 25, 2009
  22. From Dr. Carroll Quigley, Tragedy and Hope:

    “I know of the operations of this network because I studied it for twenty years, and was permitted for two years in the early 1960′s to examine its papers and its secret records. I have no aversion to it, nor to most of its aims, and have for much of my life been close to it, and many of its instruments.” {pg. 64 Cantelon}

    “He says in effect, that now it is too late for the little people to turn back the tide. In a spirit of kindness, he is therefore urging them not to fight a power that is already established. All through his book, Dr. Quigley assures us that we can trust these benevolent well-meaning men who are secretly operating behind the scenes. They he declares are the hope of the world. All who resist them represent tragedy hence the title of his book.” {ibid}

    Strange isn’t it!? Certainly makes one wonder.

    Jerry

    PS. By the way is it just me or has there been a marked increase in the amount of scientific experiments being conducted these days. It seems like almost every other week a new satellite or space shuttle, etc. etc. is being launched with more and more equipment for this and that. Where is all of the money coming from to pay for all of this? We are not talking about a drop in the bucket here folks but rather billions if not trillions of dollars surely?

    Comment by Jerry on November 25, 2009
  23. [...] The Economic Crisis and What Must be Done [...]

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  24. Mr. Cook

    Excellent article.

    For contrast, see “The Sperry Plan” that was published May 19th on http://www.opednews.com. Found here: http://www.opednews.com/articles/SuperCapitalism-The-Sperr-by-mac-Sperry-090517-196.html
    Also to be found on my website: http://www.howtorescueamerica.org

    Best Regards/mac

    Comment by M J Sperry on November 25, 2009
  25. Mr. Cook,

    This was a very insightful article. I have only begun to pay attention to economic issues over the past few years, so I am very new to this arena. However, the suggestions you have given seem to be practical, and I want to know if the “Cook Plan” can really be used?

    Comment by Faheem Lea on November 26, 2009
  26. awesome historical lesson for those of us recently awakened from the american dream. I applaud and commend you Mr. Cook for outing this mess as being more that a one admin plan. I did not vote for ‘you-know-who’ as his ‘hope and change’ mantra gave me chills up my spine. God gives us wisdom and to those of us who need hair raising in addition, HE will graciously accomodate. I wonder Mr. Cook if you know who Lyndon Larouche is ? At 89 years ‘young’ he is also battling for the Truth to win. To the point of being jailed in the 80′s.
    Can I recommend anyone interested to see his recovery plan and website here: http://www.larouchepac.com/

    Comment by tiacarolann on November 28, 2009
  27. Thanks Mr. Cook for your efforts at monetary reform. I believe your system of money as a public utility mirrors Thomas Edison’s beliefs as well.

    Comment by steve on November 28, 2009
  28. define “zionist” and tell how jimmy carter is a zionist. globalist or trilateralist would have sufficed. perhaps carter was just a darwinistic tyrant.

    not sure i support a state and private sector monetary cooperative. sounds too much like the system we have now, crony capitalism. stopping at the greenback and scrip would have been sufficient.

    “georgism” might give you an interesting study to broaden your understanding of classic progressives like thomas paine and henry george. the land value tax and citizen dividend could be used not only for agrarian justice, allowing everyone to be equal shareholders of the planet, but it could also be used to replace state social programs. something to consider while land is still cheap.

    Comment by jeepndesert on November 29, 2009
  29. but please don’t confuse georgism for socialism nor carbon taxes. it is all about ending land slavery, ending taxation on labor, and promoting free market solutions over state programs. the money isn’t given with strings attached to al gore or goldman sachs. the money isn’t given to the state to distribute through public indoctrination. it is given to everyone equally as shareholders of the planet to spend as they see fit, whether it is healthcare, retirement, education, home, or farm. man’s sweat and blood did not create the planet and everyone deserves an equal share of it so they can work for themselves rather than the land owner.

    Comment by jeepndesert on November 29, 2009
  30. just noticed the links and stuff looking a lot like georgism but not really directly georgism. i’m glad the ideas were co-opted though probably not very accurately.

    Comment by jeepndesert on November 29, 2009
  31. I agree with stephen, comment #19, let’s bite the bullet and throw out what’s left of this shambles of an economic system, cancel all debt, break up the media monopolies and hang Rupert Murcoch from the Empire State Bldg.,and start over with someone like Ron Paul or Bernie Sanders in charge. The century-old status-quo, nor the future NWO are the answer, it’s time for radical, non-violent yet painful drastic total change. I think the only way to do this is a total revamp of our election process, and remove the money from contributions from lobbies and make it a level field for any honest person to achieve election.

    Comment by Rick on November 29, 2009
  32. [...] brief history lesson and The Economic Crisis and What Must be Done Richard C. Cook November 29, [...]

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  33. [...] Click here for the full report [...]

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  34. Dear Richard,

    I beg to differ with some of your observations not because they are regressive but simply because they are reactive.

    1. System of money as public utility is also the concept of Karl Marx, erstwhile USSR and current China. But having said that, do they really practice it?
    2. How different will the “money as public utility” be from the current system of a democratically elected government controlling the use of money through legislation and central banks?
    3. When one says public, it does not mean the 300 million plus population of the US deciding the use of money. It simply means some people who represent those 300 million plus. Back to the same scene as we are today – whether in the US, India or elsewhere.
    4. And whenever it is “some” people representing the entire population – it means concentrated power and hence corruption, bias, favoritism etc. etc.
    5. Today we are denouncing the government, tomorrow others will denounce us when we have the power. It is a never ending game.
    6. The problems that the world is facing today by means of lack of financial resources has just one cause – GREED. If we can take care of that then all is taken care of.
    7. We are greedy with the resources and hence consume them without saving anything for the future – be it money (zilch savings), be it natural resources (water, oil, minerals, air, global temperature(?) …). The result is that we face recession, depression and global warming and then we sit up and try to find solutions. The only farsightedness we need is to be less greedy and conservative while spending.

    As Mahatma Gandhi said,there is enough in the world for everyone’ need, but not for everyone’s greed.

    The problem itself has a solution in it, we just need to see it and implement it.

    Regards

    Sanjeev Sharma

    Comment by Sanjeev Sharma on December 3, 2009
  35. Thank You Richard!

    Using your background and extensive research you are giving us the big picture as well a valuable ideas for real solutions. Few commentators today (mainstream or alternative) are offering as much.

    As a student of your writings, I am particularly interested in this statement: “trade and commerce will come to serve human freedom”. I hope you will continue to expand on this in future articles.

    The current Federal Reserve monopoly of money creation is the most powerful weapon of the war being waged by the global elite. Their goal is to destroy liberty so they may gain total control.

    The first question to ask of any monetary reform proposal should be: Does it serve human freedom?

    Comment by Bob Walton on December 3, 2009
  36. As always an excellent posting.The
    way you write is awesome.Thanks. Adding more information will be more useful.

    Bathmate

    Comment by bath mate on December 21, 2009
  37. I think if we can take care of that then all is taken care of. Thank for sharing.

    Comment by counterfeit detector pen on March 12, 2010
  38. order flowers now…

    Richard C Cook » Blog Archive » The Economic Crisis and What Must be Done…

    Trackback by order flowers now on July 31, 2014
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Challenger Disaster

In January 1986 Cook became the first NASA official to testify publicly on the space agency's prior knowledge of flaws in the solid rocket booster O-ring joints that destroyed Challenger and took the lives of its seven astronauts. He told his story in the book Challenger Revealed, published in 2007. Publisher's Weekly wrote of the book: "Easily the most informative and important book on the disaster."

The Cook Plan

What I am calling the 'Cook Plan' is to pay each resident of the U.S. a dividend, by means of vouchers for the necessities of life, in the amount of $1,000 per month per capita starting immediately as our fair share of the resources of the earth and the productivity of the modern industrial economy. The money would then be deposited in a new network of community savings banks to capitalize lending for consumers, small businesses, and family farming.

Omna Last

The Lite in the Heart can be experienced when there is enough Love awareness and a strong enough energy field for consciousness to enter deep within the Heart to the place where the Atma lives, shining more brightly than a million Suns.