I will be going to the Utah Monetary Conference on Monday. If I get any time this weekend, I will write up some proposals on how to make the monetary conference successful.
I don't know the people running this conference. All I know is that there is interest in Utah in minting precious metal backed currency.
The end form of the program will be determined by the motivations of the people engaged in this effort.
If it is a bunch of Machiavellian wanks seeking a way to leverage off the investments of others. Then they will create another ugly, captured exchange like Bernie Madoff's NASDAQ.
If it is people sincerely looking to provide a sound money. Then the conference could lead to great good.
Much of American banking law and practices were created by powerful insiders seeking a way to leverage off the American people. The whole concept of financial leverage is one in which a central group leverages off the people at large.
Fractional reserve lending is a game of leveraging. When a bank can lend multiple dollars for each dollar saved, then the rich bankers can leverage off the people at large.
This has two negative effects. First it devalues the money of the people who actually produce in a society. Second, the process of fractional lending multiplies the debt of a people and eventually reduces an entire society into a state of default.
So, the biggest question I have going into this conference is: Are the people running the conference sincerely looking to create a sound alternative to the leveraged systems, or are they just a bunch of power players trying to find ways to use the anger in the nation to leverage their way onto the playground?
Anyway, I will place my proposals for a real sound money on the site UtahGold.us. I will post a discussion of each of the proposals on this blog.
The proposals will be written for an audience that is sincerely looking for a sound currency alternative to the Federal Reserve and the captured central exchanges that dominate the American financial market.
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