Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
Ignoring all facts and evidence to the contrary, America’s Congress, our President, our media, and most of our old-line economists intuitively knew the earth is flat, and if an American boat sailed far enough it would fall off the edge.
So to protect our shipping from this never-seen edge, Congress installed a barrier, preventing our boats from sailing too far.
Every few years, Congress moved the barrier farther out to sea, and while no American boat ever had fallen off the edge, nor had any American even experienced an edge, many wise men predicted this would happen “eventually,” and the repeated movement of the barrier was “unsustainable.” The media termed the edge of the world a “ticking time bomb.” They derided those who wanted to end the barrier with invective and such sarcasms as: “Are you saying ships can sail forever?”
Some foreign boats that were not seaworthy – rowboats, rafts and the like – had sailed out beyond the horizon, and never seen again. Proponents of the American barrier offered this as absolute proof the barrier was needed, and the edge actually existed.
Though the barrier prevented American boats from circling the earth, which limited our trade, and hurt our nation’s economy, and though we already were in a recession, Congress decreed the barrier would be moved no more. No American boats were allowed to sail beyond it. Our economy was not allowed to grow.
Meanwhile, other nations discovered the edge of the world was a myth. They did not limit their ships. Their trade expanded and these nations grew wealthy, as America slipped steadily into a deepening depression, until we were no more.
And that is how ignorance and superstition destroyed our wonderful land.
Rodger Malcolm Mitchell
No nation can tax itself into prosperity, nor grow without money growth. It’s been 40 years since the U.S. became Monetary Sovereign, , and neither Congress, nor the President, nor the Fed, nor the vast majority of economists and economics bloggers, nor the preponderance of the media, nor the most famous educational institutions, nor the Nobel committee, nor the International Monetary Fund have yet acquired even the slightest notion of what that means.
Remember that the next time you’re tempted to ask a teenager, “What were you thinking?” He’s liable to respond, “Pretty much what your generation was thinking when it ruined my future.”