To the editor:

The saying “War is too important to be left to generals” applies to bankers. As events in the Middle East lapse into a tailspin, fuel prices will likely spike. Yet there is only one cause of inflation: an oversupply of currency.

The “Petrodollar,” an agreement that oil transactions occur only in U.S. currency, promotes our consumer culture, while our manufacturing base (production) gets shipped overseas. An artificially strong dollar, not cheap labor or better skilled workers elsewhere, explains both why our jobs go to China, and illegal immigrants migrate here.

Sometimes uncannily honest economists confess that “The FED” is the fourth branch of government, meaning America becomes “the land of the fee and home of the slave.” Sound Money is currency issued directly from the Treasury, interest-free, a fixed store of value. North Dakota is a great example, see Bill Still’s work “The secret of Oz.” Economists declare scarcity drives the economy, meaning only scarcity of such sound money, formerly the prized pony of a privileged classes’ exclusive reserve. History speaks loudly here, amplifying abundance, not scarcity, in human development.

Banks should function like public utilities; money should work in the public interest. Here bankers fall all over themselves in apologies for their underhanded ideologies — that only they are endowed with such special powers of money creation, and only to be issued by private central bankers as a loan at interest.

And, Praise-Be On-High, since they have already issued this petrodollar currency, enriching and empowering themselves, we therefore won’t mind cashing-in for them with resource-wars overseas, while they keep watch safe at home — lucky us! Amazingly enough, they keep straight-faced when preaching the glories of today’s “service economy,” the Latin root of service some big mystery of history.

PETE LINDALL

Suquamish