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The Other Golden Rule

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August 12, 2011 by wcobserver

“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”
– James Madison, Founding Father

Some say the money changers rule the world by controlling the flow of money through international monetary funds and treaties that diminish the sovereignty of nations.
Some people say the money changers control the richest and most powerful country in the world. If they screw up they only have to tell the government to bail them out.
By controlling the issuance of bonds and loans they can direct the finances of county and local governments. They employ the “golden rule of finance,” the one with the gold makes the rules.

The following is an example of the arrogance and unchallenged power that bankers have to squelch the sovereign will of an elected government in even the smallest of towns.

A small-circulation community weekly struggles, sacrifices and through that great American entrepreneurial grit (and luck) manages to publish 52 consecutive issues which allows it to become a “newspaper of record.” Such a designation can generate revenue from publishing legal notices required by law for municipalities, school districts, and lawyers.

The city treasurer of this particular little town is perhaps perplexed about her place in the organizational chart. We don’t know why but for some reason she decides she needs city council approval to do business with the lower-priced local paper. With two members absent and two votes in favor of the local paper, the four controlling votes that instructed the treasurer to do business with the out-of-town daily and shun the local paper, became the will of the city.

The little local paper is sad but the duly elected legislative body of the city has spoken. No business is to be done with the local paper, even though it is cheaper.
Time passes. By and by, the parks commission wants to borrow $400,000 to provide more ball fields which requires the council to pass an ordinance to borrow the bucks. No problem passing the ordinance but the law requires it must be published so the public knows it’s going in debt.

The bankers, for reasons unknown, instruct the treasurer to publish the ordinance in both the more expensive out of town daily AND in the reasonably priced hometown weekly. The treasurer must have forgotten her instructions from her boss, the democratically elected city council, because she never consults them about the conflicting instructions on publishing the ordinance. The treasurer did what the bankers told her to do.

Bankers rule. No one seemed to notice, question or care that the decision of a democratically elected governmental body, albeit a small one, was simply brushed aside.

If the treasurer had followed only the council (her boss’s) instructions and printed the ordinance in the expensive out of town daily the cost would have been $422.

If the council had chosen to do business with the local weekly to begin with, the cost would have been $216.

Adhering to the dictates of the money changers the cost to the city taxpayers for publishing the ordinance was $638.

In the end, the kids will get to play more baseball; they’re happy. The big-city, monopoly-owned daily will get $422; they’re happy. The small independently owned local weekly gets $216; they’re happy. The bankers are always happy to collect the interest on the loan.

Are the four members of the city council who voted against publishing in the local paper happy?

You’ll have to ask them yourself.

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