The debt hawks are to economics as the creationists are to biology. Those, who do not understand Monetary Sovereignty, do not understand economics. If you understand the following, simple statement, you are ahead of most economists, politicians and media writers in America: Our government, being Monetarily Sovereign, has the unlimited ability to create the dollars to pay its bills.

I have been erased! Not just banned, but erased! Yes, it’s true. I have been erased by Barry Ritholtz. Here is the Email I just received from him:

Buh Bye

From: The Big Picture
Date: May 15, 2011



My erasure apparently came as a result of an article Barry wrote titled, “When should you fire your fund manager?” My response was, “When he repeatedly demonstrates he doesn’t understand the difference between Monetary Sovereignty and monetary non-sovereignty.”

Think of it. Here is a man who has promoted himself into world fame, but if my “erasure” means what I assume it does, he seemingly cannot tolerate differences from his opinions. On many occasions I have challenged him to debate his philosophy (whatever that may be) vs Monetary Sovereignty, and he never has taken me up on it. And now, he has, in effect, done the childish act of clamping his hands over his his ears, stamping his feet and screaming “I can’t hear you. I can’t hear you.”

To give you an idea of Barry’s thinking, this is the paragraph he puts at the top of every article in his blog:

”Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.”

Hmmm. Detect any irony, there? Anyway, by contrast, one always can come to my blog, and feel free to disagree with me. We’ll have a nice discussion, and perhaps we each will learn something. I have learned a great deal from my blog readers. Could it be that Barry is not interested in that kind of learning?

Hey Barry, you always can come to my blog and tell me I’m wrong and why. Perhaps we’ll have that nice debate you’ve managed to miss. And by the way, Barry, you aren’t the first to ban (or as you say, “erase”) me. Years ago, I was banned by the Concord Coalition, that notorious debt-hawk group. So you’re in good company.

As for my “erasure,” I feel honored.

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 dopey teenager, “What were you thinking?” He’s liable to respond, “Pretty much what your generation was thinking when it screwed up my future.”