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Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor,
which ultimately 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.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.


Readers of this blog know I love irony, and governments are an endless source. Consider excerpts from this article in the July 1, 2013 Chicago Tribune.

Furious EU confronts U.S. over reports it spies on allies
By Michael Birnbaum, The Washington Post

European leaders reacted with fury Sunday to allegations in a German magazine that the United States had conducted a wide-ranging effort to monitor European Union diplomatic offices and computer networks, with some saying that they expected such surveillance from enemies, not their closest economic partner.

The irony: Our allies are furious at being spied on by the American government. But, so far as I can see, the American people — most of them — aren’t upset about our government spying on us.

We seem to accept the notion that our own government can do to us whatever it pleases, so long as it tells us its “for security.”

Monitor our phone calls? No problem. Read our Emails and text messages? Help yourself. Track our location as we move around? Sure, why not? Kill an American citizen without trial? Stuff happens. And lie about everything? Hey, we expect it.

Apparently, foreigners value their privacy and the rule of law more than Americans do.

Top officials from several European countries said the reports of spying would figure into the future of trans-Atlantic trade talks that began in June.

European officials said Sunday that they suspected the target of U.S. intelligence interest was economic information, not military.

What?? The Europeans suspect U.S. spying has nothing to do with security? But, our leaders tell us the spying is necessary to prevent terrorist activities. They couldn’t be lying, could they?

European Parliament President Martin Schulz said, “It is shocking that the United States takes measures against their nearest allies, comparable to measures taken by the KGB of the Soviet Union.

Wake up, fools. If we’re going to spy on every American citizen, why would we hesitate to spy on you foreigners?

Britain’s Guardian newspaper reported on 38 embassies and missions that U.S.,intelligence agencies were monitoring, including embassies of France, Italy, Japan, India and South Korea.

If you own a pack of big, vicious guard dogs, and you don’t keep them under control, one day you’ll come home to find they ate your children.

America has a large pack vicious guard dogs — the CIA, FBI, NSA, ICE, BATF, the Secret Service, IRS, as well as various local police — and heaven knows what else. We are up to our butts in vicious guard dogs.

So if their activities are kept secret, in the name of “security,” how do we keep them from eating our children?

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. Click here
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’s 99%

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

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:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports