Jim's Rant For The day. Jersey Boys.
I recently saw the movie, Jersey Boys, which chronicled the singing career of Frankie Valli, lead singer of the Four Seasons. It detailed how he was a founding member of the 1950s group, consisting of boyhood friends that grew up together.
It ends its saga with one of the members embezzling their funds and racking up a huge loan from the mob. When this came to light the group broke up and Valli stood for the loan in order to save his partner from the mob; as Valli said, they were family.
In standing for the loan, Valli sold himself into servitude to that mob and was forced to play in Vegas only, thus he was now working for the mob. With the interest accruing, he sold himself into slavery to the bank for life. Here was this beautifully talented singer that should have been wealthy, now a slave to the bankers.
During the night after viewing the movie, I realized that his life is our lives, as we are all in servitude to the bankers. The only difference is he knew it and we do not.
When the United States was first formed it was the financial practice for an individual to issue his own currency when he needed money. Thus he would issue script with his signature promising to pay in goods, service or cash when the script was to be redeemed. There was no interest involved in the script. A merchant took it, gave goods in return, and later gave the script out as change or held it to purchase manufactured goods from the issuer. This was the common practice of creating currency.
Then England stepped in and ended the practice and later the bankers indoctrinated us into borrowing non-existing cash from the bankers, with interest.
Here we are today borrowing $200,000 from the bank to purchase a home for our family and in the process paying the bank back $600,000, thus buying the bank TWO houses. And we see this as normal.
Imagine how shocked our forefathers from 1870 would be to see us do such a thing.
Frankie Valli knew what he was getting himself into by taking on a mob banker loan to save his partner. We still not know what we have gotten ourselves into. We have been conned into being slaves and do not realize it.