Skeptic Project

I believe I addressed that in my Zeitgeist: Addendum article where I explain in great detail how the money system works. I do mention there is interest created and it does create a steady rate of inflation, but by retracting or adding to the money supply the Federal Reserve can control this. Peter Joseph seems to believe that any inflation, interesting, earnings, etc are some kind of horrible debt upon the public.

The public, as I explain, literally has nothing to do with the debt, and even though PJ basically claims that without debt people never would have to work, it's not true and the FRS debt almost never touches the American consumer except during a bubble or heavy inflation, and bubbles aren't caused by the Federal Reserve, but by consumers and sellers, and heavy inflation most often happens after the end of wars, such as the massive inflation in the 1970s caused by the end of the Viet Nam war, World War II, etc.

Check out my commentary throughout my Zeitgeist: Addendum article and my conclusion at the end of it.

On a side note:

I wouldn't trust PJ's undebunking, the fact that he's _never_ admitted being wrong about anything ever, despite even a lot of members of his own movement pointing out major problems in the first movie alone, show's it's really not relevant when he attempts to undebunk. Another thing in his undebunking he took issue with from my site was the Income Tax where he explains different States changed their version of the amendment thereby making it to where they didn't vote on the original, so the votes didn't count.

He doesn't seem to understand that within our Federal Republican system States have their _own laws_ and _own income tax_. The tax laws he's referring to apply to the states themselves, the states vote on the whole Republic's amendment, they don't change it. Then they can, by option, make their own laws that apply to it -- or like Texas not have a state income tax at all.

He seems to have a little understanding of how the country works, but likely won't ever change it because that would admit being wrong.

Thanks a lot. By the way, it seems as though when I was cleaning out spam bots I may have accidentally deleted your username, sorry about that!

Who better to declare the monetary system is a fraud than a short-term equities trader?

If that's the case Brenton, then there's no reason to talk about the FRS at all, money is a product of capitalism, and capitalism is really his enemy. It'd be like if I were a Marxist and spent all my time bitching about corporations alone rather than the system which enables them (whoops, people do that!).

"Matt, one need not be formally educated as an economist to understand the workings of the Fractional Reserve Banking System."

If you're going to pretend to be an economist, you probably do.

I guess if you're a New Age guru, you don't.