Unemployment, The Economy And What We Can Learn From an Old Movie....

These are the opening scenes of "Ladri di Biciclette" (the bicycle thief). It's rated 98%! on "rottentomatoes.com". It was made in 1947, when most of Europe was still in ruins from WWII.

https://www.youtube.com/watch?v=pSmDrWgveYw&pbjreload=101

 

As the movie begins, men rush to assemble at the foot of steps to hear of new job openings. A clerk announces one job to be available: to hang posters in the city. Ricci needs a bicycle to be eligible, but he had pawned his and doesn't know how to get the money to redeem it.
Other men try to cut in and offer their services, but are told that since they are "in a different category", like bricklayer, they cannot apply.
Ricci promises to fulfill the condition and is told to go to the employment office to get his work permit.
In the background, you can see almost new apartment buildings without running water.
Yet, there is no work available. Except for all the work that obviously needs to be done.

At about the same time, in Germany, people didn't ask for permits. The resulting "economic miracle" created so many jobs, that people from all over Europe and especially Turkey, had to be solicited to move to Germany to work there.

End The Fed

The establishment of the Federal Reserve in 1913 has never created any benefit.  

Instead, it only facilitated increased leverage in the banking system which finally led to its bankruptcy in 1933.

Contrary to its initial promises, it has destroyed the value of the Dollar and pledges to continue to do so.

The Fed is not a creation of the free market, but instead is an instrument of central planning.
As the current bankruptcy* shows, even though Greenspan and now Bernanke manage to sound very educated, they clearly don't know what they're doing.
To get rid of the Fed is not only "practical", it's imperative.
This doesn't require an act of Congress: All it requires is to let people decide what they want to use for money, what they want to denominate their contracts in.
If competition becomes legal, the Fed will wither away on its own.

*bankruptcy: a)default by not being able to pay creditors as payments become due and only paying a fraction of claims.
This was done in 1933 when creditors were offered only 0.03 ounce of gold instead of the 0.05 ounces that were promised before.(not to mention that US persons had their gold confiscated altogether!)
b)default by not being able to pay creditors as payments become due and instead printing up the needed funds (counterfeiting).
This is the route taken now, as it has been done since 1971.

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