Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
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Today is Super Tuesday, so fearlessly, before the results are in, I will tell you why Bernie Sanders will lose.
First, let me tell you that I prefer Bernie to Hillary. She is a right-wing, establishment Democrat in the Obama mold, though thankfully she is tougher than him.
While Hillary cares little to nothing about the middle- and lower-income groups, she ironically will get the black vote. (Yes, there is a black vote, a white vote, an Hispanic vote and a religious-racist vote.) Bernie will get none of those, and there is a reason.
Bernie’s “Medicare for All” and free college for all are great ideas, not only for the poor and middle, but for all America. If implemented, they would “make America great again” much faster than Donald’s self-proclaimed greatness.
But, Bernie has fallen into the trap of accepting the enemy’s starting position.
The enemy is the GOP, the Party of the Rich, whose every thought, every waking moment, is devoted to widening the gap between the 1% and the 99%.
It began with the Tea Party, whose “cut taxes” raison d’etre meant, “Cut the taxes on the rich,” but also meant “Cut spending on social programs that benefit the 99%.
That was the sneaky part, because according to the Tea Party, once you cut taxes, you also have to cut spending, and where is the big spending? Social programs.
Which brings us to the trap, otherwise known as “The Big Lie.”
I can express “The Big Lie.” in just five words: “Federal taxes fund federal spending.”
Those five little words have done more damage to the American economy, especially to the 99% of us who are not rich, than any phrase in the English language.
They are a lie. Even if the federal government didn’t collect a penny in taxes, it could fund all of the “Ten Steps To Prosperity” (See below), with no difficulty.
Unlike state and local taxes, which are used for state and local spending, there is no fiscal relationship between federal taxes and federal spending. The state and local governments are monetarily non-sovereign; the federal government is Monetarily Sovereign. And that makes all the difference.
When you pay federal taxes, the dollars go to the U.S. Treasury, where they are destroyed. Destroyed?? Yes, destroyed. And here is the proof:
Throughout the year, the U.S. Treasury will receive about $3.3 trillion tax dollars. But, if ever you wish to know how many dollars the Treasury has, you never will be able to find the answer. The U.S. Treasury has no dollars.
How is that possible? How does the Treasury pay its bills?
To pay a bill, the Treasury sends instructions (not dollars) to the creditor’s bank, instructing the bank to increase the balance in the creditor’s checking account.
At the instant the bank obeys those instructions (and not before), dollars are created and the U.S. money supply increases.
The bank then sends the instructions to the Federal Reserve, which in turn, asks the Treasury whether those instructions are valid. The Treasury says, “Yes,” and the instructions “clear.”
And all that time, the Treasury doesn’t own a dime, not a penny. Even those thousand of sheets of dollar bills the Treasury prints every day aren’t money.
The money supply does not include tax dollars received by the Treasury. Not “M1,” not “M2,” not “M3,” not L, not “total debt.” No measure of America’s money supply includes federal tax dollars received. They cease to exist, once they are received.
Why does the government levy taxes? There are several reasons for this, mostly having to do with history, but none of these reasons has to do with today’s federal spending.
The sole result of federal taxation is to reduce the money supply. (By contrast, state and local taxes do not reduce the money supply)
And this brings us back to Bernie. He hired Professor Stephanie Kelton to head up his economics advisory. She is an expert in Monetary Sovereignty. She knows federal taxes don’t fund federal spending.
Despite the advice she must be giving him, Bernie has tied himself into knots, trying to explain how taxpayers won’t pay for his Medicare for All, and college for all, and other social programs — because he will raise taxes on the rich.
And no one believes his explanations, because he begins with “The Big Lie.”, that federal spending is funded by federal taxes. He should have explained the real reason why no tax increases will be needed — also in five little words: Federal taxes don’t fund federal spending.
Bernie will lose because he is playing the political game. He doesn’t believe Americans are smart enough to understand the truth.
Here is what he should have said: The speech. (Click the link to read it)
Early on, had he told America the truth, and given voters time to absorb and to discuss and debate the truth, he not only would have won the election, but more importantly, he would have built America faster and more powerfully than any President in history.
The truth would have set Bernie free, but he missed his chance, and now we all will pay for it.
Next November, hold your nose and vote for Hillary. She’s not much, but she still is better than anything the Republicans offer.
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 grow the economy, and narrow the income/wealth/power Gap between the rich and you.
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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 begin an average of 2 years after the blue line first dips below zero. A common phenomenon is for the line briefly to dip below zero, then rise above zero, before falling dramatically below zero. There was a brief dip below zero in 2015, followed by another dip – the familiar pre-recession pattern.
Recessions are cured by a rising red line.
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.
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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.
•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..
MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
Amen. I will not vote for Hillary though. I’d rather have Trump.
lower taxes vs ?
actual talk about how we can bring jobs back and make better trade deals
vs ?
I think Trump may be able to improve our economy faster than Hillary ever could. I don’t buy into the “trump is the next hitler” debate. Listening to them two talk which I have done a lot of I have heard much more from trump that appeals to me when it comes to the economy. Of course Hillary has time to win me over but I don’t think she ever will.
Big appeal for Trump is he is an outsider who can actually shake things up. We have a corrupt government that needs its ass kicked and you need an outsider to do that who can’t be bought. If you look at the attacks on him from every side of the political spectrum you can see he truly is not wanted by the bought and paid for establishment.
I could always be wrong and he could be the worst president ever. Always a risk we take.
Anyone who wants to convince me why Hillary will be better please do. Just know that attacks on person or on party wont work for me. I need to know what her solutions are.
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Good idea
You will have 9 months to find out.
I assume you’ve not seen any of the Democratic debates or heard any of Hillary’s speeches, thus the question marks.
In the unlikely event you’ve really do want to know what she proposes, you can go to https://www.hillaryclinton.com/issues/
A couple of slight corrections.
1. You said, “lower taxes vs ?” I’ve not heard Trump say anything about how he would lower taxes. Perhaps you can elucidate.
2. You said, “actual talk about how we can bring jobs back and make better trade deals vs ?” I’ve heard lots of Trump talk, but no “how.”
Aside from his greatness, do you know of any actual plans?
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1. You said, “lower taxes vs ?” I’ve not heard Trump say anything about how he would lower taxes. Perhaps you can elucidate
Elucidate? Hell you have a way with words heh. His tax plan is right here. What do you think?
https://www.donaldjtrump.com/positions/tax-reform
2. You said, “actual talk about how we can bring jobs back and make better trade deals vs ?” I’ve heard lots of Trump talk, but no “how.”
He has talked about carrier moving jobs to mexico and how he would increase taxes on them to sell to the states if they decide to move operations to mexico. Basically its like this, if you decide to make your products here he will make sure you pay next to nothing in taxes. If you decide to move your work force to another country than you will see a ridiculously high tax rate. Do you think this is a bad idea?
On the Trade deals, he claims he will renegotiate our trade deals. Is this feasible? I haven’t heard any other politician talk about our trade deals. Do you think they need to be reworked Rodger? Seems to me they have led to production leaving the USA and part of our jobs problem. Would be nice to know what you think.
As for Hillary I swear I have listened to a lot of her talk and it’s a lot like Rubio who does a great job of saying nothing. “Its time for the children of Reagan to take back their mantle” or some BS like that. I never hear anything of substance from Hillary. Thank you for the link I will take some time to read through her positions and I will let you know what I think.
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Yes, a “ridiculously high” import tax, which is what you described, is a bad idea.
His “solution” to the trade deals is to renegotiate them. Naturally, the other nations will fall in line, because of Trump’s greatness.
Cutting taxes is a good idea. The Tea Party had it years ago. The problem is the belief that federal taxes pay for federal spending.
Cutting federal taxes sounds great until the politicians tell us that because taxes are cut, spending has to be cut.
Tax cutting then evolves to social benefit cutting, which will widen the gap between the rich and you. The Tea Party loves it.
How does that sound to you?
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Shouldn’t we at least try to renegotiate them? Do you have a better solution to stop production pouring out of the states to the low wage countries we can’t compete with? I think our bargaining chip is our consumers. We need to tell companies hey you don’t want to make your products here than you cannot sell your products here.
Looking at hillarys tax cuts look more like tax breaks for certain people not all around tax cuts for all.
Trump is not your normal republican. So to assume he will approach things like all republicans i think could end up being false. Never seen trump talk about reducing SS benefits or any other needed safety net we have. If he did my support would be out the window quick.
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I am still trying to understand why Bernie doesn’t appear to buy into the “Federal taxes don’t fund federal spending” (which is actually 6, maybe 7 little words) when there is abundant proof of its veracity. Maybe he is afraid of upsetting the comfortable little meme to which the American public has become so inured. I know that people jump down my throat with denial when I even suggest such a disturbing (to them) thing.
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Everyone knows that the U.S. government can “print” limitless dollars. But no one in public office dares to admit what everyone knows. Their rich owners would punish them, and average people would ridicule them. When slaves are offered freedom, it is the slaves themselves who scream loudest against it.
But suppose that Sanders spoke the truth anyway, telling all Americans: “As Alan Greenspan and others have said many times on national TV, the U.S. government can create limitless dollars.”
What would Sanders have to lose, really? Even if it ruined his presidential aspirations, Sanders would still be comfortable for the rest of his life. He seems to be in reasonably good health (which is by far the greatest wealth in the world). He was a popular congressman in Vermont for 16 years before being elected to the U.S. Senate in 2006. In 2012 he was reelected with 71% of the popular vote. His current term will continue until 2018.
So would it really be so horrible to admit what everyone already knows?
As for Hillary, my opinions are not fit for polite company.
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Elizabeth,
As you aptly point out, Hillary’s Wall Street, neo-liberal policies makes her unfit for public office, but is only half the story. Her humanitarian, interventionist, regime change campaign, which ensures at least four more years of imperialist military conflict, makes her the more effective evil of the worst of the two evils . Margaret Thatcher on steroids.
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Yes, when it comes to Hillary’s evil, the neoliberal aspect is only the tip of the iceberg. She has threatened to nuke Iran. And while Trump only talks about banning Muslims, Hillary as Sec. of State has cheered the actual extermination of them. She helped to oversee the destruction of Libya, and the coup that deposed Manuel Zelaya in 2009 (the democratically elected president of Honduras). With her blessing, Honduras became one the most violent countries in the world not formally engaged in a civil war, and it is now a leading source of forced migration to the USA. When asked about this “border crisis” in 2014, Hillary told CNN that the refugee children “should be sent back” to “send a message” to their families back home, as if their exodus was simply the product of bad parenting. Hillary also recommended beefing up border security within Mexico, which the Obama regime has indeed funded.
She has no plan, no vision, and no ideas, except to ensure that the Gap continues to grow between the rich and the rest. All she has is a predatory ambition that can be expressed in three words: “It’s my turn!”
Feminists say it is time that we had a woman president. I ask them, “Does that mean you vote for Green candidate Jill Stein?”
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She worked for Obama, who himself is a right winger very much like a Reagan Republican.
As a political creature (i.e. a suck-up employee), she always will align with the boss.
In any event, I suspect domestic politics are far more important to Americans than international politics. We always have had xenophobia and isolationism in our DNA.
Ultimately, it will boil down to the saying: “It’s the economy, stupid.”
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Mark, Trump says many things.
He says he will deport 11 million men, women and innocent children. Have you given any thought to the implications?
How will he do it? Will he send storm troopers to kick in doors all over the country, and drag screaming women and children out, load them into boxcars and ship them hundreds of miles to some sort of camps in Mexico?
Is that O.K. with you because, hey, they don’t have the proper papers? Is destruction of millions of lives O.K., because these people deserve it?
He says he will spend billions trying to build a shameful wall across our southern border because, as everyone knows, “Mexicans are rapists and murderers.” Does America’s moral position mean nothing to you?
He says he will force Mexico to pay for it. How? Will he cut off all trade with Mexico, and starve that poor nation, or will he simply invade and have our troops confiscate Mexico’s assets? Does that sort of bullying impress you?
He says he will violate not only our Constitution, but the very spirit under which America was founded, by refusing entry to one religious group, because as everyone knows, all Muslims are terrorists.
He said he never heard of David Duke and the KKK, although as it turns out, he knows David Duke quite well, and really, he never heard of the KKK?
This is the guy who tried to take an old woman’s home so he could build a parking lot? Your kind of guy?
Please, don’t act naive. The man is a lying bigot and an unAmerican bully who plans to punish millions of innocent people, just to gain power. Is he your man?
He is hatred personified, and you want to forget that and instead talk about what he says about taxes and jobs??
Shame on you.
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Your reply is a perfect Trumpist response. “Yes he said it, but he didn’t mean it.”
I say it’s a perfect Trumpist response, because every time he makes a crazy statement, his apologists modify it by saying he really didn’t mean it.
The guy wants to be President. Words matter when a President says them. But somehow, we are supposed to think he doesn’t mean what he says, but it’s O.K.
Ban all Muslims? Oh, he didn’t really mean he would ban ALL Muslims.
Torture prisoners? Oh, he didn’t really mean he would actually TORTURE people in America’s name.
Deport 11 million? Oh, he didn’t really mean DEPORT 11 MILLION.
Never heard of David Duke or the KKK? No, he didn’t actually mean he NEVER HEARD OF DUKE.
John McCain is no war hero? No, he didn’t actually mean MCCCAIN IS NO HERO.
Mexicans are rapists? Well, he really meant that the few coyotes — the people who are not immigrants — are rapists, NOT THE IMMIGRANTS THEMSELVES.
Apparently, you have ESP powers and are able to read Trump’s mind, and know what he “really” means.
And it’s reassuring that the bully will impound money going to Mexico, our militarily weak neighbor. It sure shows what a tough guy he is.
The truth is Hillary is tougher than Donald by a factor of ten. She doesn’t strut around making stupid, bully comments.
You know how to treat a bully, don’t you. One punch in the nose will send him crying to his Daddy — as Trump already did when the going got tough.
He even was panicked by female Fox newscaster, Megyn Kelly, who asked him one “hard” question. “Oooh, she’s not fair to me. Wha wha wha.”
That’s our hero??
Putin will recognize Trump’s weakness — and no daddy to run to.
It’s hard to believe you actually defend a loud mouth, lying, bragging, bigot to be President — and just because he’s an outsider?? That’s his qualification? Yikes!
Hey, wait a second. What state are you from?
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Oh Rodger. You think insulting is the way to bring people to your side rather than understanding. You paint fellow Americans as bigots while ignoring the problems they face that lead them to vote the way they do.
You want a nation of laws at least I think you do but yet you want to reward all illegal immigrants amnesty after they broke our laws and entered illegally. I .am guessing you are for open borders too?
It is smart to talk tough to show we are not going to allow our borders to be compromised do you not understand this? Common sense tells you Trump is not going to deport 11 million people overnight. However you have more fun painting him to be the next Hitler than actually taking a common sense look at things.
We also need to start talking tough against islamic terrorists and stop being worried about offending a screwed up backward religion thats goal is for all of us to be under a Muslim theocracy.
This will be my last reponse rodger because you really get ugly. I was looking for some intelligent discussion and thought for sure I would find some here but I guess not.
Oh by the way I am from Texas and am Hispanic. I like many other Americans are tired of this liberal pussyfooting around while we face serious security issues.
BTW if you do some research into the true effect of illegal immigration you will see stopping this problem is in mexico’s interest too, sadly however I doubt mexico’s interest is not aligned with their politicians interests. Have a good day.
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Funniest comment of the day: “You think insulting is the way to bring people to your side rather than understanding.”
This, from a Trump follower.
You give yourself away when you claim I want to reward ALL illegal aliens AMNESTY. I never said it, but you did. Great way to “bring people to your side”: Misstate their side.
If our laws weren’t so ridiculously onerous, there would be no need for illegal immigration. My parents didn’t have to wait 10 years. Did yours? Changing the law would be much better than destroying millions of families.
And, I’m pleased Trump will not deport 11 million people overnight. Two questions:
1. How do you know this? Have you read his mind?
2. When will he deport them? After they have children and grandchildren, whom he will insult with the term “anchor babies”?
If he waits much longer he will have 15 million, 20 million, who knows how many. And you still have not said how he will round them up and deport them. How many billions of dollars and lives will that cost?
Glad you’re not bigoted against a “screwed up, backward religion,” which obviously is not as good as your religion. I hope your “superior” religion does not allow priests to rape children or sisters to marry brothers.
There are two truths about bigots:
1. They don’t believe they are bigots
2. They offer “good” reasons for their bigotry.
And what is the “true effect of illegal immigration?” Having too many hard working, honest people here?
As for this “liberal pussyfooting,” Obama has deported more immigrants than any President in history. But I guess that isn’t sufficient for you, who by the grace of God, happens to have citizenship papers.
Lucky you, but now that you’re safe, why should anyone else be as lucky. Hey, I’ve got mine. I’m fine. To hell with the rest. Right?
So you like a loud-mouth, bragging, lying, bigoted blowhard . . . and you’re from Texas? Interesting. But no bigotry implied.
Oh, and did I mention you still have not said exactly how he will deport 11 million men, women and children. (I guess I did, but your refusal to answer says much)
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Yes he is going to load them into box cars. Cmon rodger you lose me when you go off the deep end like that. I could sit here and start spitting out all the crazy right wing Hillary talk too but I prefer to keep it in reality and I don’t like to demonize people because they have different views.
So now he is invading mexico lol, oh after he creates a concentration camp of mexicans and promotes the KKK to an official government organization. Shame on me right for trying to actually talk reality and not crazy. Have a good night Rodger. Your still my favorite 🙂
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O.K., how will he do it? Exactly what will he do to deport 11 million men, women and innocent children. Exactly what will he do to get Mexico to pay for his wall.
Let’s have some specifics. Let’s hear the reality you want to talk about.
And as for Trump’s tax “plan,” it sounds very much like Herman Cain’s “nine-nine-nine” plan. No real numbers; just talk-talk-talk that will succeed because of Donald’s greatness.
So far as I can tell, the only people who buy into Donald’s “plans” are bigots and those who send money to Nigerian princes.
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Curious as to why your interested in this “bigots'” opinion rodger but any here you go.
How will he make mexico pay? Well he talks about the 50 billion trade deficit we have and the wall only costing 10. I am not a huge supporter of a wall but living in a border state and seeing the effect of illegal immigration I can understand the problem. By the way when trump referred to Mexican rapists he was referring to a real problem along the border of women being raped by the same coyotes helping them across the border. Look up Rape trees. He could of worded his statements on it better but those of us who understand the problem know exactly what he meant.
Here is some more info on how he would make mexico pay for it.
“Mexico must pay for the wall and, until they do, the United States will, among other things: impound all remittance payments derived from illegal wages; increase fees on all temporary visas issued to Mexican CEOs and diplomats (and if necessary cancel them); increase fees on all border crossing cards of which we issue about 1 million to Mexican nationals each year (a major source of visa overstays); increase fees on all NAFTA worker visas from Mexico (another major source of overstays); and increase fees at ports of entry to the United States from Mexico [Tariffs and foreign aid cuts are also options]. We will not be taken advantage of anymore.”
As to how he will deport 11 million people. Honestly I don’t think he well deport all 11 million. I think he came out really wanting to out conservative the conservatives so he could build a base but we all know this is not reasonable. Trump has been quoted in the past that he would support amnesty if we had a wall. Basically the main thing is get control of our borders.
Again my main reason for feeling better about trump than others is he is a true outsider. We need an outsider we had 2 to chose from with Sanders and Trump, now we are down to one.
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Irony of ironies.
Trump: ‘I am going to take care of everybody’
CBS’ Scott Pelley conducted the interview. “What’s your plan for Obamacare?” Pelley asked Trump. “Obamacare’s going to be repealed and replaced,” said Trump. “Obamacare is a disaster if you look at what’s going on with premiums where they’re up 40, 50, 55 percent.” Pelley followed up:
Pelley: How do you fix it?
Trump: There’s many different ways, by the way. Everybody’s got to be covered. This is an un-Republican thing for me to say because a lot of times they say, “No, no, the lower 25 percent that can’t afford private. But–”
Pelley: Universal health care.
Trump: I am going to take care of everybody. I don’t care if it costs me votes or not. Everybody’s going to be taken care of much better than they’re taken care of now.
Pelley: The uninsured person is going to be taken care of. How? How?
Trump: They’re going to be taken care of. I would make a deal with existing hospitals to take care of people. And, you know what, if this is probably—
Pelley: Make a deal? Who pays for it?
Trump: the government’s gonna pay for it. But we’re going to save so much money on the other side. But for the most it’s going to be a private plan and people are going to be able to go out and negotiate great plans with lots of different competition with lots of competitors with great companies and they can have their doctors, they can have plans, they can have everything.
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If Trump makes such great deals, why is he always suing everyone?
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Sanders does not want to be president, otherwise he would not be so soft on Hillary. At Bernie’s age (74), in my opinion, he simply wants to make a public statement – a life affirmation – moving the public dialog in a better direction to which he deserves much credit. But he was never in it to win it, which is OK. I wish his message would have gained more traction.
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After eight years of, “Yes, we can”, where Obama comes to a strip poker game dressed in his underwear, we will have Hillary’s, “No, we can’t”.
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Trump, the “unifier.”
Can’t beat that for unification.
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AND NOW IT BEGINS. THE REPUBLICANS BROUGHT THIS ON THEMSELVES
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Have you sent this message through to Stephanie?
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Yes. She works for Bernie. I cannot say more about our discussions.
She is a talented economist, but there are thousands of economists, and it’s sad that Bernie hired one who understands Monetary Sovereignty if he is reluctant to use that information.
Perhaps, he plans to use her talents, not to get elected, but to help run his Presidency after he is elected.
It’s an optimistic approach, to say the least.
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Interview with Stephanie Kelton:
The video should start at the 1:30:00 mark when you press the play icon.
Ms. Kelton talks about taxes to pay for health care, and later, without any sense of inconsistency or contradiction, explains how a MS government is not money constrained.
Seems like the political operatives of his campaign created the message that they believe is marketable to the public. Sanders’ own political sense, from decades of experience, concurs.
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They have decided that it will be too difficult to teach the America public the facts about economics. Sadly, I agree.
Have you ever tried to explain Monetary Sovereignty, to your very best friends? Even in the best possible circumstance — one-on-one, face-to-face, good friends — they don’t get it.
All they can think is it’s too good to be true, and there’s no such thing as a free lunch, and remember the Weimar Republic. And these are your close friends. Imagine trying to convince a stranger in a 20-second sound bite.
The average American (is there such a thing?) simply does not have the mental capacity to understand that federal financing is different from state and local and personal financing.
This is politics, and the First Rule of Politics is: GET ELECTED. After that, you can do many things, but if you don’t get elected, you can’t do any of them.
When it comes to economics, the proverbial “man in the street” is beyond ignorant; he is stupid.
Consider the millions of people who think Donald Trump should be President, and you get a hint about this rampant stupidity.
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