Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.

In a previous post I asked whether President Obama was a Coward, fool or traitor to America. We now have our answer.

This article by Lori Montgomery, ran in the 7/7/2011 Washington Post: Obama offers Social Security cuts. A few quotes:

President Obama is pressing congressional leaders to consider a far-reaching debt-reduction plan that would force Democrats to accept major changes to Social Security and Medicare in exchange for Republican support for fresh tax revenue.

Not only does he wish to raise taxes, an anti-stimulus move, but he is ready to cut Social Security benefits — anti-stimulus and anti-working class.

At a meeting with top House and Senate leaders set for Thursday morning, Obama plans to argue that a rare consensus has emerged about the size and scope of the nation’s budget problems and that policymakers should seize the moment to take dramatic action.

It is the same rare consensus that said the world is flat, the earth is the center of the universe and the gods live on Mount Olympus — in short, a consensus of fools.

As part of his pitch, Obama is proposing significant reductions in Medicare spending and for the first time is offering to tackle the rising cost of Social Security, according to people in both parties with knowledge of the proposal.

In joining the Tea Party, Obama shows himself to be all three: Coward, fool and traitor to America. The battle is over, folks. Take down your flag and go home. Your leader has surrendered to buy some votes, and America will pay the price.

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.”