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Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●Austerity is the government’s method for widening
the gap between rich and poor.
●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.
●Everything in economics devolves to motive,
and the motive is the Gap.
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Lest you believe the federal government isn’t tough on crime:

Regulators Edge Toward Foreign-Exchange Settlement With Banks
Deal With Seven Banks Targeted for Middle of Next Week

Regulators including the U.K.’s Financial Conduct Authority and the U.S.’s Office of the Comptroller of the Currency are planning to impose a total of well over £1 billion ($1.58 billion) in penalties against the banks as part of a roughly 18-month probe into potential manipulation of the foreign-exchange market.

The banks currently involved in the settlement talks with the FCA are the U.K.’s Barclays PLC, HSBC Holdings PLC and Royal Bank of Scotland Group PLC; Switzerland’s UBS AG; and the U.S.’s Citigroup Inc. and J.P. Morgan Chase & Co.

No criminal charges against the top executives of criminal banks that stole billions.

STATE ATTORNEYS GENERAL, FEDS REACH $25 BILLION SETTLEMENT WITH FIVE LARGEST MORTGAGE SERVICERS ON FORECLOSURE WRONGS

The nation’s five largest mortgage servicers — Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup, Inc., and Ally Financial, Inc. (formerly GMAC — have agreed to a landmark $25 billion settlement with a coalition of state attorneys general and federal agencies. The settlement addresses past mortgage loan servicing and foreclosure abuses and fraud.

No criminal charges against the top executives of criminal banks that stole billions.

Ten banks settle foreclosure charges for $8.5 billion

Ten major U.S. banks and mortgage companies will pay $8.5 billion to settle complaints that they improperly foreclosed on some homeowners. More than 3.8 million borrowers whose home loans at these 10 banks were foreclosed on in 2009 and 2010 will receive some compensation.

The settlement includes Bank of America, Citigroup, Wells Fargo, JPMorgan Chase, MetLife Bank, PNC, Sovereign, Sun Trust, U.S. Bank and Aurora.

This agreement is “flawed,” says Alys Cohen, a staff attorney for the National Consumer Law Center. The size of the settlement “is wholly inadequate in light of the scale of the harm.”

No criminal charges against the top executives of criminal banks that stole billions.

Man sent to prison for robbing Farrell bank in 2013

Arthur C. “Corky” Pate, who admitted robbing a city bank of $1,500, was sentenced last week to 2 1⁄2 to 5 years in prison.
monetary sovereignty

At last! Justice is served!

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. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)

10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

The Ten Steps will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
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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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY