Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
Mitchell’s laws:
•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•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.
•The single most important problem in economics is the Gap between rich and the rest..
•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.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
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If this doesn’t sound familiar to you, you probably are too young to remember or have read about World War II:
‘I will bomb your f*cking location’: Muslims face violent threats as Trump urges ban on mosques
Republican frontrunner Donald Trump helped fan the flames of anti-Muslim sentiment in the wake of last week’s deadly terrorist attacks in Paris.
Trump renewed his call Monday morning to shut down mosques or at least place them under surveillance.
“You’re going to have to watch and study the mosques, because a lot of talk is going on at the mosques,” Trump said on MSNBC’s “Morning Joe,” less than a month after telling Fox Business that “absolutely” shut down U.S. mosques to defeat Islamic State militants.
Better yet, Trump, how about making them wear yellow armbands, then load them into boxcars and ship them to Auschwitz-Birkenau?
Oh, that’s been done? Maybe to Trump Towers?
“From what I heard in the old days, meaning a while ago, we had great surveillance going on in and around mosques in New York City, and I understand our mayor totally cut that out, he totally cut it out,” Trump added, apparently referring to New York’s controversial racial and religious profiling investigation — which was discontinued after it resulted zero arrests or leads.
Here’s what the nation’s leading hate-monger brings. The roaches come out of the woodwork:
Police are investigating several threats made over the weekend against Muslim houses of worship.
A caller left a threatening voice mail message that referred to the massacre about 7 p.m. Friday at the Islamic Society of St. Petersburg, Florida — which canceled Sunday school over safety concerns.
“This act in France is the last straw,” the caller warned. “You’re going to f*cking die.”
“I personally have a militia that’s going to come down to your Islamic Society of Pinellas County and firebomb you, shoot whoever’s there on sight in the head,” the caller added. “I don’t care if they’re f*cking 2 years old or 100.”
In case you ever wondered how an entire nation — Germany — went mad with hatred, here is your answer:
Arsonists in Canada deliberately targeted a mosque Saturday night, investigators said. The fire caused about $80,000 in damage to the only mosque in Peterborough, Ontario, about half an hour after around 70 members were inside celebrating a birth.
“Mothers with little kids were there,” said Kenzu Abdella, president of the Kawartha Muslim Religious Association.
And then the Hitler wanna-be digs even deeper:
Donald Trump calls for ban on Muslims entering the U.S.
Republican presidential front-runner Donald J. Trump called for a total and complete ban on Muslims entering the United States, upping the ante of previous calls to profile Muslims and spy on mosques in the wake of the terrorist attack in San Bernardino, California.
Mr. Trump cited polls that show at least some sympathy in the Muslim community for jihadists, including a Center for Security Policy survey that revealed 25 percent of Muslims agreed that violence against Americans was justified as part of a global jihad.
“Without looking at the various polling data, it is obvious to anybody the hatred is beyond comprehension,” Mr. Trump said in a statement.
“Where this hatred comes from and why we will have to determine,” he continued.
The Center for Security Policy is a right-wing propaganda arm, whose data are, shall we say, suspect. But if Trump wants to know where the hatred comes from, he has only to listen to any of his speeches.
The man clearly is the most disgusting creature to run for President of the United States. By appealing to the most stupid and hate-obsessed among us, he has shamed America. Perhaps that is his way to “Make American Great Again,” by being as unAmerican as possible.
When Trump mentioned the idea at a rally here Monday night on board the USS Yorktown, he drew loud cheers from a massive crowd.
Again, I ask, who the heck are those people who made him the leading Republican?
Trump is evil, but sadly, he represents right-wing thought. Undoubtedly, there are loads of Republicans who will tell you, “He’s right.”
The polls tell that story.
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 Click here
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
Recessions come only after the blue line drops below zero.
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
#Monetary Sovereignty - Mitchell 
Trump’s source:
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Trump is only saying what a lot of average Americans are thinking. “I lost my job and my house. The Muslims did it!”
The USA would only need one or two attacks by “ISIS” (whether real or false flag) for Trump’s ban on Muslims to be enacted. Of course the ban would only apply to Muslims who aren’t rich, and who aren’t the heads of U.S.-allied nations.
In any case, the fact that Trump can get away with saying such things, and not be disqualified in the court of public opinion, shows how far down we’ve sunk as a nation. Worst of all, Muslim-bashing is just another distraction for the public as rich people rob more from average people every day.
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Off-topic…
How’s this for austerity?
The Israeli Finance Ministry is boasting that Israel’s national deficit between January and November 2015 was $2 billion, which is 46 percent lower than the deficit for the same period last year.
Thus, Israel’s deficit has been cut in half in only one year.
Ouch!
http://www.jns.org/news-briefs/2015/12/7/israels-national-deficit-drops-46-so-far-in-2015#.VmW89bgrLIU=
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While Israel is Monetarily Sovereign, its situation is a bit different from that of the U.S. The Shekel is not as internationally acceptable as the dollar. Israel, has an historically negative balance of trade, and undoubtedly must pay most of its bills with dollars.
While American Jews send billions of dollars to Israel, it still cannot be as easy about deficits as the U.S. can.
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Yes, I wrote a post explaining that there are varying degrees of Monetary Sovereignty, and that the USA is the only nation with true 100% MS, since the USA’s internal economy and its foreign trade are both fully conducted in U.S. dollars.
Nonetheless, I still think that the Israeli austerity is gratuitous, since the Israeli government can create all the shekels it needs for its internal economy. True, Israel needs foreign currencies in order to buy imports, but Israel gets dollars from the USA, and also gets money from Israel’s trade surplus. (See http://www.tradingeconomics.com/israel/current-account )
I could be missing something, but it seems to me that the Israeli government is playing the same game that most other governments play today, which is to impose austerity in order to continually widen the Gap between the rich and the rest.
You seem to agree with me in your post titled, “Et tu Netanyahu?”
https://mythfighter.com/2012/07/27/et-tu-netanyahu-israel-joins-the-ranks-of-suicidal-nations/
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OFF TOPIC
Holy price plunge, Batman, oil is down to $37.60 per barrel on the WTI index; the lowest in six years. And prices at the gasoline pumps in the USA are the lowest in six years. Two-thirds of U.S. gas stations are selling gasoline for less than $2 a gallon, according to AAA.
That’s great for motorists, and for business that use fuel (airlines, trucking, etc.) and for numerous parties that use petrochemicals, but it’s murder on oil workers. Activity in the Bakken oil field in western North Dakota was huge (HUGE!) until mid-2014. Workers there made a lot of money, and whole towns sprung up on the prairie. But with the fall in oil prices, eighty percent of those people (and climbing) have lost their jobs, and many of the towns have died.
The fall in oil prices also hurts nations whose exports include a lot of oil, such as Russia and Venezuela.
(TRIVIA: In Venezuela, gasoline currently sells for the equivalent of about 2 cents per liter, or seven and a half U.S. cents a gallon. Drivers often fill their tanks for less than a dollar, and they tip the gas station attendant more than the cost of a tank of gas. At the other extreme is Israel, where gas at the pump currently goes for the equivalent of USD $6.13 a gallon. See http://www.globalpetrolprices.com/Venezuela/gasoline_prices/ )
Anyway, once a week or so I check oil prices at the web site below, which shows both the Brent index and the West Texas Intermediate index on a continually updated basis (New York Mercantile Exchange).
Sometimes when an economic event perplexes us, a quick check on world oil prices can yield partial clues to help us figure out what’s going on. Right now oil traders are quietly waiting for next week’s decision from the Fed on interest rates. Higher interest rates could strengthen the dollar, which in turn could affect oil prices.
https://beta.dailyfx.com/crude-oil
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“The fall in oil prices also hurts nations whose exports include a lot of oil, such as Russia and Venezuela.”………… ummmmm, yeah. that is what US foreign policy is all about, and has been for centuries. defeating the, perceived, enemies of the oligarchical owners of this unexceptional country. your cavalier reference to the US backed/CIA funded destabilization efforts to the ‘enemies’ of the US (Russia, Venezuela, etc.) suggests that maybe you should stop your endless, 8 paragraph, posts and do some research…….
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If you can’t solve the real problem, solve a different problem, so people will think you’re doing something.
Get it? One guy posed as a Syrian refugee. That one guy wasn’t a real Syrian refugee.
So Congress labored and produced a mouse. Because of that one fake refugee, Congress will increase scrutiny of all the real refugees — even though they already are scrutinized.
Problem solved.
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It’s all part of the basic function of U.S. politicians (especially Republicans) whose job is to keep the peasants confused, amused, distracted, and submissive while the peasants are raped by the rich.
One way to do this job is to keep the peasants bickering over issues like race, abortion, and school prayer. Another way is to scream about imaginary “threats.” Still another way (as Rodger notes) is to create fake “problems” and fake “solutions” so that do-nothing politicians seem to actually be doing something.
To do all this, politicians rely on average people’s willingness (yeah their desire) to simultaneously believe in multiple contradictory assertions.
Example:
>The U.S. government can “print” all the dollars it likes.
>Nonetheless, the U.S. government borrows all its dollars.
>Furthermore the U.S. government uses taxation to get all its dollars.
In order to maintain these contradictions, and many more, the average person stuffs them into a bag that is labeled, “My hate.” This bag makes says the average person say, “I don’t know all the details, but I do know that most of the problems are caused by (fill in the blank). (Jews, Muslims, Mexicans, poor people, liberals, socialists, the “entitlement society” – whatever.)
Politicians specialize in encouraging the peasants to do this, so that the peasants can be ruled and enslaved by the rich.
No matter how outlandish and contradictory are politicians’ lies, the average peasant believes them by stuffing them into his bag titled, “My hate.”
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