The Secret Of Oz

What's going on with the american economy, foreclosures are everywhere, unemployment is skyrocketing and it looks like this may only be the beginning.

As a result most americans fear that our cherished basic freedoms and way of life are under direct attack as our standard of living sinks like a stone.

But could it be that all these problems were foreseen a hundred years ago by L. Frank Baum, the author of "The Wonderful Wizard of Oz"?

Why is this just coming out? Because when the MGM movie "The Wizard of Oz" was made in 1939 significant changes were made from L. Frank Baum's original book version written 40 years earlier in 1899.

In the book version of "The Wizard of Oz" Dorothy's slippers are made of silver, as opposed to in the film version where Dorothy's slipper are made of ruby. You take away the silver slippers on the gold or yellow brick road and all of the other symbolism tends to be lost.

The 1890s was a terrible time, america was going through its worst depression ever. Those who tried to break the grip the big bankers had on congress had just lost the presidential election of 1896.

There are many things different in the film than in the book, if you want to see the full blown allegory all you have to do is read the book version and if you have some understanding of the politics of that age, particularly the monetary politics, you will see some unmistakable parallels that can only lead to one conclusion:

that L. Frank Baum was engaged in a deliberate effort to not only entertain children with this delightful story but also to make a broader point about the politics of the time and particularly the politics of gold and silver which became the central political issue in the elections of 1896.

Now let's see what the experts say about our current problem then look at our history so we can understand what L. Frank Baum was trying to say in his book "The Wonderful Wizard of Oz".

Well, it's no secret to any american that we're living in very precarious times. Americans are being robbed blind and they don't even know who's doing the robbing.

I mean we clearly are, you know, in a bus and we're headed for the edge of a cliff and there's still probably time to change course. the only problem is the people driving the bus don't realize that there's a cliff there yet.

If the problem is that's bringing the economy to a halt is too much debt and if nobody in the government, in either party, is looking at solving the debt problem, then the answer is: it's going to go into a depression as far as the eye can see.

And so we're gonna have a massive massive recession, well let's call it a depression, while the economy rebalances away from a service sector economy towards a goods producing economy. Away from a borrow & spend economy to a save & produce economy. That's what we need to do, we can't get from where we are to where we need to be without a severe depression.

What the government can do? The sad answer is: under our current monetary system nothing!

It's not gonna get any better until the root cause of the problem is understood and addressed. There isn't enough stimulus money in the entire world to get us out of this hole. Why? Debt!

The national debt is just like our consumer debt, it's the interest that's killing us.

You must understand that every penny, every dollar that we have in circulation is created as an interest-bearing debt.

So what is the national debt? When government spends more than it collects in taxes it has to borrow the difference by selling interest-bearing IOUs such as US bonds.

When a US bank buys a 100 dollar bond it gets to loan out ten times that amount so the bank not only gets back the 100 dollars plus interest from the federal government, it gets to loan out another 1000 dollars it doesn't have and charge additional interest.

Banks are allowed to create this extra money out of thin air. So banks aren't making only 6% interest for example, they are really making over 1000% interest. That's why bank buildings are the biggest in every town on the planet.

The system of lending way more than you have is called "Fractional Reserve Lending". Almost all our money is created by banks lending it to people to companies or to government. As we'll see there is a better way for the government to get money, simply issued without debt for the benefit of all citizens equally. Abraham Lincoln did it, Ben Franklin did it, Jefferson wanted to do it.

Honest americans have fought against this bank controlled debt money system throughout american history.

But unless we change it soon, most of our freedoms will soon be lost in a tidal wave of debt. This was the central message hidden in "The Wonderful Wizard of Oz".

"Someone has to borrow every dollar we have in circulation. If the banks create ample money we are prosperous; if not, we starve. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is incredible. It is the most important subject intelligent persons can investigate and reflect upon."

The government should never go into debt. It doesn't need to go into debt, the government can issue the money it needs.

That's absolutely right, under our current money system the government has to borrow our money into existence then pay interest on it. That's why they call it the national debt: all our money is created out of debt. Politicians who focus on reducing the national debt without trying to actually fix the underlying cause probably don't understand what the national debt really is. To reduce the national debt would be to reduce our money and there's already not enough money for the average person.

Why haven't we heard this before? Because most of the media and congress are beholding to the big banks for loans. Yes, congress still appropriates money but where do they get it?

Again, what they can't raise from taxes they borrow from banks. In 2009 congress will spend over 4 trillion dollars but they will have to borrow half of it. But on top of that in 2008-2009, congress bailed out the biggest banks by giving them nearly a trillion dollars.

The worst part is we aren't just giving the money away, we're borrowing it to give it away! As patrick Byrne CEO of Overstock.com recently said:

"This is rich bankers bailing out rich bankers on your credit card. It's called an oligarchy - a group of powerful folks who have basically hijacked the government."

One of the things I think that's difficult to figure out from the political side of this thing it's clear that they're making a lot of mistakes and the question in my mind is: are these mistakes? Could people in washington really be ignorant about what they're doing?

Because I can't look at what the politicians are doing in Washington D.C, I can't look at that and say there's any hope of that working. And these guys have to face elections. Now, when the next election rolls around they're not gonna politically popular figures. There are gonna be consequences for the politicians, so what makes them push the wrong buttons?

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