579 - Financial Consolidation (Wars for Profit and More on Primordial Debt)

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Episode #579 - Financial Consolidation (Wars for Profit and More on Primordial Debt)

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First Bank of the United States, built in 1795

⌚ Sat 26 November 2011  ☻Edward Griffin, David Graeber (reading)

Download Hour1 Download Hour2This week we continue our detailed look at money and debt. In our first hour, Edward Griffin speaks on the history of banking in USA. In our second hour, we conclude last week's reading of Primordial Debt, chapter 3 of David Graeber's Debt, The First 5000 Years.

In our first hour Edward Griffin continues his 'Reality Course on Money'. We hear about the organisation of the international financiers as he expands upon his ideas of the Rothschild Formula that he introduced in episode 577. He begins by telling how the sinking of the Lucitania was engineered as a means to help turn American public opinion in favour of the war, and he continues on the topic of the direct interest of bankers in promoting wars and threats of war.

In the second half of our first hour, Griffin speaks on the history of the money system in the USA. As Griffin explains, the money system was a very hot topic in the US in 19th century and its nature was the topic not only of debate but of more violent struggles. He asserts that the US Civil War was not primarily about slavery, a topic which was 'largely manufactured' but primarily about the banking system. He details some of the political maneuverings on this topic up to the creation of the financial cartel known as the Federal Reserve.

In our second hour, we conclude Primordial Debt, chapter 3 of David Graeber's Debt, The First 5000 Years. Graeber reviews claims of governments that citizens owe a 'debt to society'. How much do we really 'owe', and to whom? He reviews sociological discourse about 'society' and notes that the meaning of 'society' has been usurped for many people by the nation state. He concludes by making the case that since states require markets and markets require states, the choice the two is a false dichotomy which serves to limit people's thinking about which economic arrangements are possible.
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Source archive: Reality Course on Money (271 min) Edward Griffin

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