Mitchell’s laws:
●The more budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity starves the economy to feed the government, and leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
==========================================================================================================================================
Politicians, as a group, get crazy, because they have no real talent and no real control over their futures. Theirs is a strange, secluded world of “ins” and “outs,” where they can find themselves in either place, without understanding why.
The only thing that matters to politicians is votes, and to acquire votes, politicians say and do the nuttiest things. In that sense, politicians most closely resemble entertainers, who become successful or unsuccessful because of face, voice and money — an uncertain, process whose unpredictability drives them crazy.
That said, the right wing seems to have an advantage in the nuttiness sweepstakes, and I’m not sure why.
We had to live through crazy Michele Bachmann, crazy Herman Cain, crazy Newt Gingrich, crazy Ron Paul, crazy Rick Perry and crazy Rick Santorum, as nutty a group as ever collected election money from crazy people who actually paid good money to help these boobs become President.
We’re living through crazy Todd Akin, crazy Arizona Governor Jan Brewer, crazy Arizona Sheriff Joe Arpaio and crazy potential New Hampshire sheriff Frank Szabo – all right-wing and certifiable.
We duck for cover as every day a right wing, NRA backed nut, kills one or a dozen Americans, though as the right wingers tell us, even AK47 “guns don’t kill people.”
We continually hope to survive a right-wing, Dark Ages education thanks to Louisiana’s, Tennessee’s, Kansas’s and who knows what other states’ nutty anti-evolution laws.
We may have as our future President, a self-proclaimed, extreme right wing and simultaneously moderate, Mitt “I’m-on-both-sides-of-every-issue,-but-trust-me-to-lead-you” Romney.
And just when we try to take a breath from all this incredible goofiness, up pops this:
Republicans eye a return to gold standard
By Annalyn Censky | CNNMoney.comIs gold money? Some Republicans think it should be.
The Republican Party is considering setting up a commission to examine the pros and cons of going back to the gold standard, according to draft documents of the party platform.
The official party platform won’t be decided until Monday, but a Republican National Committee spokeswoman confirmed the draft language to CNNMoney.
The commission harkens back to the early 1980s, when President Ronald Reagan set up a Gold Commission with the same intention. Only two members of the 17-member commission endorsed a return to the gold standard. One of them was Rep. Ron Paul, who remains an avid gold supporter.
“Now, three decades later, as we face the task of cleaning up the wreckage of the current Administration’s policies, we propose a similar commission to investigate possible ways to set a fixed value for the dollar,” the new proposal says.
It’s highly unlikely the United States would actually return to the gold standard. The country first moved away from the gold standard in 1933, and dropped it altogether in 1971. Despite support for its return by some on the political right, few mainstream economists support its reinstatement.
I’m almost afraid to say that advocating for a gold standard is as crazy as it gets, because no sooner will the words leave my mouth, than the right wing will come up with something even nuttier. It’s like we’re playing a Whac-a-Mole with right wing crazies instead of moles.
What next? Cut federal spending to cure unemployment and grow the economy? Whack!
Bomb abortion clinics and kill their nurses and doctors to save lives? Whack
Loosen political contribution limits to prevent “buying” of elections?
Whack!
Cut back on bank regulation to prevent future bank dishonesty? Whack!
While most politicians are nuts, the right wing seems to have an edge on crazy, and I’m not sure why.
Rodger Malcolm Mitchell
Monetary Sovereignty
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D — for everyone
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Long-term nursing care for everyone
5. Free education (including post-grad) for everyone
6. Salary for attending school (Click here)
7. Eliminate corporate taxes
8. Increase the standard income tax deduction annually
9. Increase federal spending on the myriad initiatives that benefit America
==========================================================================================================================================
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 Imports
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
they’re not crazy, rodger. they’re evil (though some make a convincing argument that “evil” people are “evil” b/c they ARE in fact “crazy”). and they have an agenda.
LikeLike
Yuu,
There is a cycle.
For a time, the world devolves to Selfishness, Cruelty and Evil, because those give the appearance of winning strategies against the generous and the good. (See Gordon Gekko)
Slowly, the most Selfish, Cruel and Evil gather power until the leaders turn against even those just below them on the SC&E scale, as witness Hitler turning against Stalin..
When that happens the followers of SC&E realize the world domination promised by their leaders applied only to the few leaders themselves, and that they, the followers, would be treated no differently than their victims.
Then they turn against those leaders and create things like the Magna Carta, the Constitution, Social Security, civil rights, Medicare, Medicaid, and other social benefits.
But soon, the cycle begins anew.
The right wing is well up the SC&E scale, the only question being, when will its followers realize they will be the next victims.
LikeLike
I guess they can just dust off those old gold certificates. The US has not held substantial gold since 1934. There just isn’t enough gold around to “back” anything close to what the level of today’s economy is. More frivolous nonsense from beyond the pale right wing zealots. Master loon Ron Paul apparently personally owns over $2M of the stuff and I’m sure he’d just love commodities traders in Johannesburg running the US economy, just as long as it helps him! If you look at the current Republican platform and its polar opposite platform from the once real world Republicans of 1956, it makes your head spin. Today’s is like something from out of Nazi Germany a la 1938. Possibly they can substitute nickel, copper or tin as William Jennings Bryan once espoused? Or maybe steal some gold from a frigate in the high seas? I believe Republicans still think its sometime in the 17th Century anyway.
LikeLike
Soon, the Guillotines: Greece Passes New Austerity Deal Amid Rioting
Rodger Malcolm Mitchell
LikeLike
Yes the republicans have some crazies and so do the democrats but calling a return to gold or a gold standard crazy is just plain ignorant.
It is interesting that those who think the gold standard is crazy are either ignorant of the gold standard that they don’t really understand the gold standard or are part of the establishment, the 1%, the bankers, politicians, media etc.
Those who are ignorant of the gold standard usually resort to Ad Hominin attacks, calling it a relic of the past and those who do understand a gold standard hate it because of the fiscal limits it sets.
Usually those who know better ie..the establishment will make up some nonsense of why the gold standard is crazy but what it really comes down to is the politicians hate it because it limits how much they can spend and borrow (the spending and borrowing of course buys them votes and allows them to hand out goodies to the big corporations) and they cannot pay back what they have borrowed in inflated dollars. The bankers love it because they make money over the politicians borrowing and the media they go along so they can have access to these folks.
It is said that gold is the people money because it takes power out of the hands of the establishment. In any case it is interesting that in one of the greatest periods of economic growth, from the end of the Civil War until the turn of the century we were on a gold standard. During that period the dollar remained fairly stable and actually gained purchasing power ie..we had some deflation which allowed for savings and investment which spurred an incredible amount of growth. Even if you would that the post WW2 period was the greatest period of economic growth…guess what, were were still on a semi/Pseudo gold standard. Further most countries or empires that have been on a gold standard or used gold as money remained stable and grew economically as long as they did not debase their gold. The Romans and Byzantines being the most famous, lasting for a thousand years. Even the Spanish and English did well for several hundred years with a gold standard. In fact under the constitution our money was based off the Spanish milled dollar.
Now compare those periods to the last 40 years under a pure fiat system with the federal reserves and fractional reserve banking and is anyone serious going to argue that we are better off now then when we were under a gold standard?? Well I guess if you are a politician or a banker than I guess you can argue we are better off but for the 99% are we really better off with the endless wars, unemployment, stagnant wages, stagnant stock market, two major recessions/depressions in a decade etc..
It is also telling that while under a gold standard, in order to finance our wars we had to go off the gold standard. In fact because of the debt we occurred under the Vietnam war, foreign governments feared the debasement of the US dollar so much they began exchanging their dollars for gold so much so Nixon closed the gold window and took us off the gold standard.
It is also telling that today foreign governments have started to move away from the dollar as the global reserve currency. Some governments are looking into having baskets of currencies replace the dollar while others are actually looking into returning to gold. Most central banks however especially china and india are increasing their gold reserves regardless are encourage their citizens to buy gold for monetary reasons.
Unfortunately republicans like Paul Ryan don’t really understand the gold standard either and are calling money tied to a basket of commodities which is hardly a gold standard.
In any case one of the big issues that most people miss is not so much if we return to a gold standard or to using gold as money or if we use digital money but that of fractional reserve banking.
LikeLike
It also is telling that The Great Depression — the worst depression in American history — occurred while we were on a gold standard.
By the way, “Ad Hominin” doesn’t mean what you seem to think it means.
LikeLike
Fret and obsess about deficits while advocating for massive tax cuts on millionaires. Whack!
LikeLike
In a private letter from Bill Buckley, Jr. to William Loeb, 50 years ago (March 5, 1962): “Why is it our side is afflicted with all the loonies?”
I think it’s due to lack of education. Education trains the mind to think critically and not easily accept the words of liars.
The Left has their “loonies,” too: Bill Maher, Amanda Marcotte, etc.
LikeLike