Comments on: An Exploration of Madoff’s $50 Billion Ponzi Scheme Will Unveil the Root Causes of this Global Monetary Crisis

By: saundra

saundra — Sat, 01 Aug 2009 16:57:32 +0000

May I suggest studying the crash course in economics put out by Chris Martensons….
I think it is very educational and not enough of the american people even care to understand our economic system…
Here is the link: http://www.chrismartenson.com/crashcourse

By: The Gaping Hole in the Deflation Argument, Part II | The Underground Investor

Fri, 24 Apr 2009 13:25:39 +0000

[...] In Part I of “The Gaping Hole”, I stated that “the valid argument against massive future inflation is the fact that this bailout money must eventually end up not just in the monetary base but in the monetary supply.” When money in the monetary base is converted to monetary supply then this indeed causes velocity as the institutions that store the monetary base (the banking system) have the ability to leverage this base by up to 100 times the amount of money represented by the monetary base (Not 10 times as many people erroneously believe that the RRR in the US is 10%. For a full explanation of the degradation of reserve ratio requirements to zero for many US banking accounts, please reference this article here). [...]

By: How We Can Save Our Country & Prevent Big Banks From Ruining America Forever | The Underground Investor

Wed, 15 Apr 2009 04:49:50 +0000

[...] essence, the above statement, even its simplicity, still holds true. Since I extensively explained how devaluation of the US dollar happens in this article, I won’t repeat myself [...]

By: Stephen Clark

Stephen Clark — Sun, 22 Mar 2009 01:38:40 +0000

Excellent article. NF gave you excellent sources, Allais, Fisher, and I would add Ronnie Philips of Colorado State on the Chicago Plan that would have introduced 100% reserve on finance in the 30s. He sites Allais and Fisher and others in a well developed context.

Other luminaries Jerry Voorhis, California Congressman who introduced bill to monetize national debt in 1939, who was also Richard Nixon’s first victim in 1946 congressional election. Alexander Del Mar, Frederick Soddy and Silvio Gesell are also worth exploring.

Also my website jaspersbox.com which is a site dedicated to examining money and suggesting alternatives.

I also have papers on the USBIG site (United States Basic Income Guarantee) which covers a variety of topics.

I would enjoy beginning a dialog with you

Thanks,
Stephen Clark

By: J.S.

J.S. — Sat, 21 Feb 2009 05:35:51 +0000

Hi NF, Actually I’m in the process of making a documentary about our fractional reserve system because very few people such as yourself understand that our global economic woes are fully created by an unsound monetary system and the biggest scam of all is Central Banks. I am not aware of Maurice Allais but I know the US has a long history of Congressman and Presidents in the 1700s and 1800s who consistently opposed the bankers. But thanks for that reference. I will be sure to look him up and maybe include him in my documentary. All the best!

By: NF

NF — Fri, 20 Feb 2009 14:44:30 +0000

Great article. i am translating it in French for my blog!
I do not understantd how anyone not acknowledging that the current crisis is a monetary crisis..

Do you know about Maurice Allais, a French noble prize, that fought all his life against our fractionnal reserve system? Have you read Irving Fisher “100% Money” writtent in 1935 that explained how to get out of that **** system.?

Great work!

By: Marisa D

Marisa D — Tue, 10 Feb 2009 01:57:59 +0000

Absolutely riveting article.

I’m just starting to understand the implications of our banking system and your article is very concerning. It was even more so as I’d just gotten through watching a video clip of Rep. Kanjorski’s (Capital Markets Subcommittee Chair) interview on C-span discussing a $550B electronic run on US bank money market funds last Sept. 15 at 11am within an hour or two.

Thank you!

By: Alfred B.

Alfred B. — Thu, 08 Jan 2009 01:44:15 +0000

I think you’re confusing Ponzi schemes with ordinary leveraging. Even if banks hoarded 90% of deposits, if depositors demanded 95% they’d be in trouble. Plus, if the bank doesn’t use deposits to make money, how could they pay you interest? And if they didn’t pay you interest, why would you put your money in a bank?
Banks don’t used deposits to pay interest to previous depositors, they use it to make money, which is (partially) returned to depositors as interest.

By: milt tomkins

milt tomkins — Thu, 18 Dec 2008 07:07:00 +0000

Oye Ve!!!!!!!!!!!! very informative story…… this epic Ponzi scheme of Madoff (made-off) continues to fascinate the world. He managed to lose or steal 50 billion dollars, which can’t be easy to do no matter how hard you try….. with a busy looking stock-trading operation occupying the 19th floor, of his building…. and the computers and paperwork of Bernard L. Madoff Investment Securities (his name is on the door!) filled the 18th floor and on the 17th floor was Bernie Madoff’s inner sanctum, occupied by another two dozen staff members but who must have been blinded to some sort of quantitative trading wizardry in order produce that mind-numbing 10-12%…and apparently rarely visited by other employees. It was called the “hedge fund” floor, where the scam was conceived…….. and nobody else knew?????????????? …I actually feel bad for Charles Ponzi ..Ponzi scammers will be changing their name to “Madoff schemes”… in researching hedge funds I came across a few books that were also fascinating… Hedge Fund Trading Secrets Revealed by Robert Dorfman… and Confessions of a Street Addict by Jim Cramer….both these books take you on a great ride about hedge funds how they make and lose millions and expose many other scam practices in this game and Dorfman actually teaches his strategies.