Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
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, and the motive is the gap.
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Compare these newspaper articles.
This one:
Reason.com
EPA Can Regulate 83 Percent of Greenhouse Gases Instead of 86 Percent, Says U.S. Supreme CourtThe U.S. Supreme Court today issued a decision in the case of Utility Air Regulatory Group v. Environmental Protection Agency in which it more or less affirmed the EPA’s power to regulate the emissions of carbon dioxide so long as they are emitted with other pollutants that the agency has the authority regulate under the Clean Air Act.
And this one:
New York Times
Justices Uphold Emission Limits on Big IndustryIn a big win for environmentalists, the Supreme Court on Monday effectively endorsed the Obama administration’s efforts to regulate greenhouse gas emissions from sources like power plants, even as it criticized what it called the administration’s overreaching.
And this one:
Washington Times
Supreme Court hits Obama’s global warming agendaThe Supreme Court on Monday rolled back part of the Obama administration effort to force power plants and factories to reduce emissions of greenhouse gases blamed for global warming.
And this one:
FOX News
Supreme Court limits EPA global warming rulesThe Supreme Court delivered a setback to the Environmental Protection Agency on Monday, placing limits on the sole Obama administration program already in place to deal with power plant and factory emissions of gases blamed for global warming.
You tell me. Is this “news” hilarious, sad or frightening?
The real question is not what you believe; it’s where you learned what you believe.
This is what passes for honest, dispassionate journalism in America.
Rodger Malcolm Mitchell
Monetary Sovereignty
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Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
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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
THE RECESSION CLOCK
Vertical gray bars mark recessions.
As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise. Federal deficit growth is absolutely, positively necessary for economic growth. Period.
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
People want to be spoon-fed “news” that matches what they already believe. It’s why they’re so willing to believe the bigger lies that are told to them.
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Rodger! Who’s or what’s today’s most objective daily ‘news’ source(s), in your view? I.E.who is least subjective in relaying and interpreting daily events and their meaning, prospective effects, historical reach, etc……
Great blog, wise man …………
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Ouch, you just asked the toughest question of the day. Clearly, anyone who agrees with me is the most objective, and everyone else is biased.
🙂
Seriously, everyone has a point of view, which is reflected in their interpretation of facts. Some are more skewed than others.
Clearly, the FOX “News” (if I should call it “news”) is off the wall biased.
There is a blog called Naked Capitalism (nakedcapitalism.com) that seems pretty objective.
Biggest media are owned by the rich, so most tend to favor the rich, i.e. the right wing.
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Speaking of news:
Ever wonder why there always is enough money for a war, even though there is no “military trust fund,” but Social Security is “going broke,” even with a “trust fund”?
If you haven’t wondered, you should — unless you already know why.
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“Ever wonder why there always is enough money for a war, even though there is no “military trust fund,” but Social Security is “going broke,” even with a “trust fund”?
The reason is that China finances our wars, but not our Social Security. Also, average working people (those who still have jobs) do not pay nearly enough taxes.
The solution, of course, is more austerity. (Always more.)
Great cartoon, by the way. I’ve been a fan of “This Modern World” since it started in 1990.
Here’s a picture of the cartoonist…
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== Off topic ==
I wish someone would tell the people at the NEP blog that the US government does not “spend” money. (I could tell them myself, but they delete all my comments.)
The government has no money to spend. Instead, the government credits and debits accounts.
Money is only spent when the controller of a given bank account uses the money to do something.
This is not a trivial point of semantics. Everyone at the NEP blog talks about the US government “spending” money. In Randy Wray’s latest post, he mentions “government spending” about thirty times. In this way the NEP clowns uphold the Big Lie. They conceal the difference between a money creator and a money user.
They also confuse people. If the US government “spends” money, then people logically conclude that the government relies on some outside source for money to spend.
But what can I expect from people who cling to their pointless “jobs guarantee,” and spend all day chanting “federal taxes drive money”?
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I wish someone would tell the people at the NEP blog that the US government does not “spend” money. (I could tell them myself, but they delete all my comments.)
The government has no money to spend. Instead, the government credits and debits accounts.
Money is only spent when the controller of a given bank account uses the money to do something.
This is not a trivial point of semantics. Everyone at the NEP blog talks about the US government “spending” money. In Randy Wray’s latest post, he mentions “government spending” about thirty times. In this way the NEP clowns uphold the Big Lie. They conceal the difference between a money creator and a money user.
They also confuse people. If the US government “spends” money, then people logically conclude that the government relies on some outside source for money to spend.
But what can I expect from people who cling to their pointless “jobs guarantee,” and spend all day chanting “federal taxes drive money”?
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you really are an obnoxious little twat.
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Pathetic. You can’t refute Rodger’s assertions, so — like a child — you revert to calling him names. I feel sorry for you. Get help.
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And you cant read either. I am calling you an obnoxious bloviator, RMM doesn’t call MMTers clowns because he understands that we are on the same side, minus the JG and belief in the interest rate channel for controlling inflation. Which is why I would never disparage RMM, he’s not an asshole
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I’ve made an appointment with these people for you. It’s up to you to keep it.
http://oppc.mentalhealthexcellence.org/cities/national/
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“…affirmed the EPA’s power to regulate the emissions of carbon dioxide so long as they are emitted with other pollutants that the agency has the authority regulate under the Clean Air Act…”
So my take away is the COURT does not think CO2 is a pollutant, i.e., if CO2 is not emitted with other pollutants –emitted only by itself, then it’s ok and the EPA can’t complain. By itself, CO2 in any quantity is quite ok.
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== Off topic ==
THE GOOD NEWS…
…is that you’re not going to prison. The bad news is that you will be put on probation. More and more states are outsourcing their probation functions to private companies that do nothing more than collect a check once a month. If a probationer misses a month, then he or she is sent to prison.
For example, Jamie and Gladys Scott (the “Scott sisters,” who are black) were convicted robbing someone of eleven dollars in Mississippi, and were each given double life sentences. Three white boys were also implicated in the “robbery,” and were each given sentences of two years. It’s a very long story, and one of the most horrendous I have ever heard in my life, but Mississippi Governor Haley Barbour finally released the Scott sisters after 17 years, on the condition that Gladys donate a kidney to her dying sister Jamie. (Barbour released the sisters so the state would not have to pay for a kidney transplant. By the way, I am convinced that the Scott sisters were innocent victims of a corrupt sheriff, and that no crime was committed in the first place. The sisters’ father, now deceased, had exposed the corruption of the previous sheriff, costing that sheriff his job. The replacement sheriff avenged his predecessor by framing the Scott sisters.)
The point is that after the Scott sisters were released, they moved to Florida to live with their mother. In Florida they must pay a private company $52 per month for the rest of their lives for the “administration of their probation.” If they fail to pay, they will be imprisoned again. And the Scott sisters are only two people among countless others who are in lifetime debt servitude in this manner.
When you are convicted of some minor crime, the judge gives you a choice between probation or a long prison sentence. Naturally you choose probation. Voila, you are a slave to some private probation company, perhaps for life.
More than 1,000 courts in several states have outsourced probation to private companies that are not subject to regulation or oversight. There are 36 private probation companies in Georgia alone.
One Georgia man, Thomas Barrett, pleaded guilty to shoplifting a can of beer. He could not pay the $200 fine, so he was put on probation. In order to pay the private probation company, he sold blood each month. Eventually he could not keep up with the growing fees, and he was imprisoned. When he is released from prison, he will once again be put on probation, and will again have to sell blood to pay some private company.
As the private companies proliferate, probation periods get longer and longer. Many people must pay money all their lives to stay out of prison. The private companies are bill collectors, yet they have the authority to say, “Pay me or I will send you to prison.”
It seems to depend on where you live. If your state has a lot of private prisons, you go to prison. If your state has few private prisons, you get parole, in which case you must pay some private company every month. And of course you cannot move out of the state. You are a captive debtor.
(Private interests also collect fees for ankle bracelets, for anger management classes; for drug tests, for crime victims’ funds, for crime laboratories, for legal representation – you name it.)
In 1983 the US Supreme Court ruled (Bearden v. Georgia, 461 U.S. 660) that courts cannot imprison a person for failure to pay fees or fines, if the person is unable to pay. But that ruling is ignored in most states.
The Supreme Court also ruled that you must be provided a lawyer if you cannot afford one. But in misdemeanors, the right to counsel is rarely brought up, even though defendants can run the risk of jail or probation.
Sweet, huh?
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Perfect example of everything we’ve been talking about:
Of course. In this way, the owners of the contracting companies can get rich. Don’t be too surprised if they are big contributors to Obama and the Democratic Party.
Don’t be surprised by this, either. Obama is a right-winger in left-wing clothing. He happily raised FICA and his “Grand Bargain” included cuts to Social Security benefits. He has been bribed by the rich to widen the GAP, (via campaign contributions and promises of lucrative employment later). Hello Michelle. Enjoy your job, courtesy of those who bribed your husband. And Hello Malia and Sasha. The same rich people bribed your dad).
Of course. The rich don’t need Social Security. So why worry?
And this is why we struggle. Even the people who agree with us, don’t understand Monetary Sovereignty. They yield to the twin myths that somehow, the federal government “can’t afford” to spend on social benefits, and that FICA pays for Social Security.
The rich have convinced the populace that private companies do everything cheaper and more efficiently than does the government — all part of the BIG LIE. In fact, the opposite is true.
Everywhere you look, private industry is less efficient and costs more. (Ask me about Chicago’s parking meter and Skyway scandals. Both became private, and now cost taxpayers far more than they ever did.)
Who cares? The only question is: Are they rich and will they be contributors? Honesty and efficiency mean nothing to a bribed Congress and a bribed President.
Again, who cares. These people all believe in the “small-government,” myth promulgated by the Tea Party and echoed by both Republicans and Democrats.
Gotcha!
There’s lots more in the article that should set your hair on fire. I urge you to read it.
Then write that letter to Elizabeth Warren. (I write every day.)
Don’t bother writing to Obama. He has been well-bribed. Unless you have several million dollars to give to his Library and to his family, he will not care what you say.
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