–Neville Chamberlain proudly signs Munich Agreement. Barack Obama proudly signs JOBS act.

Mitchell’s laws: The more budgets are cut and taxes inceased, the weaker an economy becomes. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Austerity = poverty and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.

Chamberlain and Obama are known for appeasement, Chamberlain to Hitler and Obama to the Tea/Republicans. The pictures of Obama proudly signing the JOBS bill while House Majority Leader (Republican) Eric Cantor beams behind him, brings back memories of Chamberlain proudly waving his document of capitulation.

Monetary Sovereignty

CBS News
Obama signs “JOBS Act” into law, calls it a “game-changer”
By Leigh Ann Caldwell
(CBS News) President Obama signed the bipartisan “JOBS Act” into law on Thursday afternoon, saying it will “remove barriers” for small businesses and will lead to job creation.

“New businesses account for almost every new job created in America,” the president said during a signing ceremony in the Rose Garden of the White House on Thursday. “That’s why I pushed for this bill.”

The “JOBS Act” (Jumpstart Our Business Startups Act) removes restrictions for small business and startups to receive broader access to capital and investors.

Translation: The JOBS act removes business restrictions, which Republicans always hate, even though those restrictions were not the cause of our recession or small business startup difficulties. .

The bill passed Congress with bipartisan support. Republican lawmakers, including House Majority Leader Eric Cantor, stood directly behind the president during the signing ceremony.

Translation: “Bipartisan support” means I did what the enemy wanted, so I’m sure they’ll cooperate with me in the future.

The law enables “crowdfunding,” which broadens the potential pool of investors, and it increases the amount the entrepreneur can initially raise. It also eases the ability of a small company to go public and allows entrepreneurs to advertise to the general public to gain investors.

Translation: It will erase restrictions on many phony investment schemes, while doing nothing for the economy.

… the president . . . (called) on Congress to adequately fund the Securities and Exchange Commission to oversee the new activity.

Translation: Now that I’ve given everyone’s front door keys to criminals, I ask a Congress that is in league with the criminals, to support the police, whose guns I’ve taken away.

The president said the activity is “subject to rigorous oversight” and the “SEC will play a vigorous role.”

Translation: The SEC did such a great job prior to the last recession, I expect them to do a similarly great job this time.

President Obama thinks of abject capitulation as a great victory of compromise, and the American people pay the price. Folks, don’t let the intentionally deceptive “JOBS” title fool you. This is a bad law.

America is not suffering from too much regulation. The jobs this silly bit of deregulation creates primarily will be for miscreants. When the President compromises with the Tea/Republicans, guard your wallet.

Rodger Malcolm Mitchell

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia. Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
Gross Domestic Product = Federal Spending + Private Investment and Consumption + Net exports


13 thoughts on “–Neville Chamberlain proudly signs Munich Agreement. Barack Obama proudly signs JOBS act.

  1. And this is exactly why, as I have stated time and time again, the changes necessary to restore “public purpose” as the primary function of government, will never, ever occur within this corrupt excuse for representative government. You are correct that we are Monetarily Sovereign. Being correct about it has no influence upon reality. We all admit our representatives and our president do not understand economics. Therefore they do not nor ever will understand or support what accepting the principles of Monetary Sovereignty could/would accomplish towards a society beneficial to all Americans. The cesspool that is our government works only for the benefit of the oligarchy and maximization of their profits to the detriment of all who are not in the club.


  2. I normally agree with you but on this topic you could not be more wrong and exemplify academic detachment from the real world at its most extreme. If you were a small businessman and received the lectures I have from banks when trying to get a SBA Veterans Small Business Patriots Express loan only to find out that you do not qualify and if you you did you would have to put your house up as collateral then you might think differently. It is a national disgrace that those who serve their country come home and have among the highest unemployment rates and often have to swallow their pride and seek state aid just to eat!.

    The JOBS act by allowing crowd funding in exchange of shares in the business as the owners work hard and grow it without taking on crushing levels of debt that doom most new small businesses is BRILLIANT legislation that will allow those who have the gumption (Young Hard Working and Intelligent Tech Savvy Veterans Included) to access risk and working capital without having to put the roof over their heads at risk. To infer that this will only benefit criminals is not only anti-Veteran it is anti American Free Enterprise. Why should the only option to small businesses be onerous high interest SBA “insured” Bank Loans with near usurious interest rates.

    Small businesses being non-sovereign I am shocked that you are not in favor of one of the most intelligent internet age pro business bills to come out of congress in the past 100 years. This will open up access to critical working capital for hundreds of hard working Veteran Owned Businesses that do not have the luxury of the contemplative Academic life and have to actually work for a living to raise their families.


  3. Max, I agree that some small businesses will benefit. In fact, I can’t think of a single instance where regulations are eliminated and some small businesses or individuals don’t benefit in some way. Can you?

    (Eliminate the speed limit from my village streets and the local pizza delivery stores will benefit. Eliminate building codes, and home buyers will benefit from lower home prices. Eliminate minimum wage and anti-bias employee protections, and businesses will have fewer concerns. Allowing children to buy cigarettes and liquor will benefit small stores.)

    That said, the question always is: Will the regulations do more good than harm? Will they benefit, or will they punish, more people?

    I suspect that massive numbers of people will be cheated of their life savings by con artists who create phony businesses and invent wonderful, stories.

    Let’s have this discussion in five years. We’ll have a better perspective, then.

    Rodger Malcolm Mitchell


    1. Rodger – I agree NO one wants to see people cheated but because of wall street greed which inspired draconian laws that protect everyone from any misfortune – no risk no reward – assumes people are too simple to do their own due diligence. The ridiculous situation we have now is it is illegal for an entrepreneur to advertise their Reg D Rules 504/5/6 PPM or private placement memorandum circular and only a limited number of qualified SEC investors may participate – eliminating millions of internet users from getting in on early deals.

      Absolutely foolish in the internet age when crowd sourcing can go viral and quite possibly 1 million people might want to put $1, $5 ,$10 up to $500 or $1,000 into a new venture – better odds then the MegaMillions lottery and with crowd funding you can fool some of the people some of the time but not all of the people all of the time – could even cap the first micro round to no more that $1,000 per person unless they are SEC qualified and knowledgeable investors where by there would be no cap up to the $1M Jobs Act limit – then we could bring a novel concept like democracy back to the capital markets and not force businesses to borrow at 13% interest rates with so called SBA loans that banks will not approve without massive collateral.

      The recent purchase of Instagram by Facebook for $1B a company that was begun only 2 short years ago proves that nothing is more powerful and valuable than a good idea well executed. Try to get an SBA guaranteed loan with an idea as collateral – Never going to happen. Like you say lets see what happens within 5 years. I am optimistic that the majority of these new businesses will more than break even for their investors as the yoke of usurious bank debt is lifted from them and many will actually prosper. After all most of the 99% are hard working and honest people it is the pathologically greedy 1% you have to watch out for!


      1. ” . . . the majority of these new businesses will more than break even for their investors . . .

        Hold on to your wallet, Max. The vast majority of new businesses fail within four years. Don’t by hypnotized by the famous successes.


  4. Here’s even more on that crooked JOBS Act:

    “Keating’s frauds should have also warned us against the recently passed JOBS Act. One of the problems we had in getting the public to treat the growing S&L crisis as a crisis was that federal deposit insurance meant that there were few obvious individual victims.

    Keating put a face on the crisis. He caused Lincoln Savings’ insolvent holding company (ACC) to fraudulently issue worthless junk bonds – sold out of Lincoln’s branches under a special SEC exemption for issuers of securities who do not sell through investment bankers. Lincoln Savings targeted retirement communities for these sales.

    Tens of thousands of California widows were victims of Lincoln and ACC’s frauds. The S&L debacle now had a face, and it was our grandmother’s face. The JOBS Act will encourage frauds against the most vulnerable members of our society.”

    You can read it at: http://www.nakedcapitalism.com/2012/04/more-proof-of-obama-mortgage-settlement-lies-woefully-underresourced-investigation-not-fully-staffed-yet.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29


    1. Fraud & con are one of the few remaining growth sectors. We just need to legalize more of it and encourage it. Obama is a bankster’s puppet. Period. End of story.


  5. This is something I’m kind of on the fence about. Have you heard of Kickstarter?


    It’s kind of cool, and there’s a lot of stuff that you can “invest” in that would otherwise never see the light of day. On the other hand, there’s no guarantee that a project you donate to will be successful. I donated to help fund a certain video game, and they now have about 2.5 million dollars. The developers have a good reputation, so I’m fairly confident that it will work out.

    Regardless of anything, though, I fail to see how this will make a meaningful impact on the economy.


  6. Thanks for finally talking about >-Neville Chamberlain proudly signs Munich Agreement.

    Barack Obama proudly signs JOBS act. #Monetary Sovereignty – Mitchell #Monetary Sovereignty – Mitchell <Loved it!


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