How really to stop inflation without doing damage to the economy.

The oft-revised Hippocratic oath for doctors contains variations on the phrase, “Do no harm.” If only the Fed, the President, Congress, most economists and economic writers understood and adhered to that admonision. Sadly the above-mentioned folks claim one very big and very wrong and very harmful thing. They claim Federal deficit spending causes inflation Inflation is not caused by federal deficits or any other type of money creation. Inflation always is caused by shortages of key goods and services. ALWAYS. Pick any inflation or hyperinflation in history and you will find that the cause was certain scarcities. Despite the photos of money in wheelbarrows, there never has been an inflation caused by money creation. In fact, the reverse is true: Inflation causes money creation by those who do not understand the problem. )See: Will the “Build Back Better” bill and “too much” federal debt cause inflation? An examination of myths. – #Monetary Sovereignty – Mitchell (mythfighter.com)

**Interest rates (blue) and inflation (green) have trended down, while federal debt (red) has increased.**

We have had massive federal deficit spending for more than a decade, and interest rates have been near zero. But, inflation remained low.

Now suddenly, we have inflation.

What is different, today? Think: What is different today from the past 10 years of low interest rates and high federal spending?

Today’s sudden inflation is not caused by deficit spending, which has been ongoing, not sudden, for decades, but rather by sudden shortages of oil, food, computer chips, shipping, lumber, labor, etc.

None of those shortages is related to federal deficit spending; most are related more closely to COVID.

We currently have a COVID inflation, not a deficit-spending inflation.

In reality, federal deficit spending can CURE inflation if the spending is directed toward obtaining and distributing the scarce goods.

To cure inflation, we must cure the shortages that caused the inflation.

The government could cure our inflation by spending to increase oil drilling (or better yet, spending to:

1. Increase the availability and use of renewable energy)

2. Aid more efficient and more productive farming,

3. Encourage more local computer chip manufacture

4. Develop a more efficient shipping and transportation systems

5. Facilitate more lumber-growing (and substitute-for-wood products)

6. Eliminating FICA and providing Medicare for All (allowing employers room to increase salaries, thus tempting workers back to work).

The primary power to cure inflation is in the hands of Congress and the President, not the Fed.

The Fed has some power, but it is small. Raising interest rates increases the value of the U.S. dollar, thus requiring fewer dollars to purchase the same amount of goods and services.

So when the Fed raises rates, this will help somewhat to reduce inflation. But if scarcities are not cured, inflation will continue to bedevil us.

Congress and the President, as usual, want to lay the responsibility anywhere but themselves. So, they ask the Fed to grow the economy and to control inflation, while the Congress and the President . . . well, what do they do about inflation? Not much, other than point fingers at the Fed.

Maybe they’ll continue to bicker like children about which party gets the credit for this and the blame for that. So while the Dems want to grow the economy, the GOP will vote against anything that grows the economy, lest the Dems get credit.

We are being led by a group of infantile liars. I would call them “useless,” except that doesn’t describe the damage they do.

Here is how the Fed plans to handle our scarcity-fueled inflation:

Inflation is still red hot, and it’s forcing the Federal Reserve into a new game plan Updated December 15, 2021 SCOTT HORSLEY The Federal Reserve is paving the way for possible interest rate hikesnext year, in an effort to contain stubbornly high inflation.

If oil, food, chip manufacture, shipping, and lumber-growing remain scarce, and FICA continues to chase people out of the labor poor, we will continue to have inflation, even if interest rates are raised to 10% or more.

At the conclusion of a two-day policy meeting Wednesday, the central bank announced plans to phase out its large-scale bond-buying program faster than initially planned. The Fed started purchasing bonds during the pandemic as a way to keep borrowing costs across the economy low and to prevent any market disruptions.

What the Fed bond-buying program actually does is to pump growth dollars into the economy. Unfortunately, turning off that money-creation pump will bring us closer to recession.

Reductions in federal debt growth lead to inflation — **When federal debt growth (blue line) declines, we have recessions (vertical gray bars) which are cured by increases in federal debt growth.**

Ending the bond purchases earlier would give the Fed more flexibility to raise interest rates sooner, if necessary, to keep prices from spiraling out of control. The central bank said previously it wanted to stop its bond purchases before considering raising interest rates.

Utter nonsense. The Fed doesn’t need more “flexibility.” It has the infinite ability to raise interest rates. It merely does so by fiat, and up the rates go. There is a zero relationship between bond purchases and the Fed’s ability to raise interest rates.

The Fed is taking a harder line against inflation after consumer prices in November jumped 6.8% from a year ago — the largest increase in nearly four decades.

The sudden jump in prices was not caused by the federal deficit spending, which will take place over as much as ten years. It was caused by COVID-related, OPEC-related, and regulation-related scarcities.

In a statement, the Fed acknowledged the rapid runup in prices. Although the central bank still believes inflation is largely driven by factors tied to the pandemic, which should ease when the health outlook improves, policymakers are no longer taking that as a given.

Yes, correct. Today’s inflation is not just largely driven, but totally driven, by pandemic factors.

Notably missing from Wednesday’s statement was the word “transitory,” which the Fed had used in the past to describe inflationary pressures. “The risk of higher inflation becoming entrenched has increased,” Fed chairman Jerome Powell told reporters. “It’s certainly increased. I don’t think it’s high at this moment but I think it’s increased. And I think that’s part of the reason behind our move today.”

He is clueless about the future for the same reason we all are clueless. He has no idea how much oil will be pumped, how much food will be grown (including weather considerations), or how many computer chips will be manufactured or needed. He has no way to know how and when the shipping situation will be fixed, and what we will do about the lumber shortage. Like all of us, he doesn’t know what the effect of the omicron variant of COVID will have, nor if there will be other variants and what their effect will be. He has no idea what effect global warming will have on shortages, and when. I would just as soon lay tarot cards on an ouija board as rely on economic predictions by the Fed chairman, or anyone else, including me. His problem is not just his inability to predict the future, but also his inability to judge cause and effect.

The Fed has kept interest rates near zero throughout the pandemic in an effort to prop up the economy.

And during all that time of low interest rates, we had massive federal deficits with low inflation. That alone should provide any thinking person with sufficient evidence to determine that deficits and debt do not cause inflation.

Twelve of the 18 members of the Fed’s rate-setting committee now say they expect interest rates to rise by three-quarters of a percent or more in 2022. That underscores the evolution in the Fed’s thinking. Three months ago, no one on the committee envisioned rates climbing by that much next year.

It’s not “evolution.” It’s ignorance. From just three months ago their thinking totally has reversed. Why would anyone trust their predictions?

The Fed has repeatedly been surprised this year by both the strength and staying power of inflationary forces. While average wages have been rising at a rapid pace, prices are climbing even faster.

Really? Given all their inside information, were they really surprised by the oil shortage? The computer chip shortage?

Committee members now say they expect inflation to be 2.6% at the end of next year, up from 2.2% that was projected in September. Raising interest rates is the Fed’s traditional tool for keeping inflation under control, but it comes with its own price. Higher borrowing costs typically lead to slower economic growth, and the Fed has been reluctant to raise interest rates until it feels the U.S. had achieved “maximum employment.”

**Do higher borrowing costs (blue) typically lead to slower growth. (red)? Not according to this map.**

The popular wisdom is that low interest rates make borrowing easier, and so are stimulative, and high rates are stagnating or worse. But the above graph seems to show the popular wisdom to be incorrect, even opposite to the truth. While low rates make borrowing easier, they also mean that the federal government will pump fewer stimulus dollars into the economy (for interest on T-bills, T-notes, and T-bonds). If anything, there seems to be a correspondence between high interest rates and high GDP growth.

That’s the challenge facing Fed policymakers. “This was a different kind of recession that we’ve never really been through,” said Greene, who’s also chief economist at the Kroll Institute. “So the jury’s still out on what’s going to happen with the labor force.” Powell suggested that if inflation goes unchecked, that in itself could jeopardize a complete jobs recovery.

The inflation can be checked, but not by the Fed. Congress can check the inflation by:

Using tax policy and spending policy to encourage the development and use of renewable energy.
Using tax policy and spending policy to encourage the development of more and better food crops and other foods, that are able to feed more people, using less land, labor, and fertilizers, while renewing the soil.
Using tax policy and spending policy to encourage the supply of lumber and other building-related materials.
Using tax policy and spending policy to encourage the development of U.S. based computer chips and other computer-related hardware and software.
Using tax policy and spending policy to improve both international and domestic shipping and mail. The postal service should be funded by the government and not be required to make a profit.
Eliminating FICA so that employers are encouraged to raise salaries.
Providing Medicare for All so that employers do not need to fund healthcare insurance, and again, are encouraged to raise salaries.

“What we need is another long expansion like the ones we’ve been having over the last 40 years,” Powell said. “And to have that happen, we need to make sure that we maintain price stability.”

“Price stability,” i.e. low inflation, is beneficial, but it does not lead to “another long expansion. The primary factor leading to a long economic expansion is ongoing and increasing federal deficit spending. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

……………………………………………………………………..

THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

Monetary Sovereignty describes money creation and destruction.
Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics. Implementation of Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps: Ten Steps To Prosperity:

The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.

MONETARY SOVEREIGNTY

Red state governors pay people NOT to vaccinate. No, really!

COVID still is sickening and killing Americans. In fact, the situation is getting worse, not better Our best, proven prevention for this scourge is vaccination. But believe it or not, some Republican governors actually are paying people not to vaccinate! Apparently, there is no level of stupidity — i.e., attacking the Capital, giving tax breaks to the rich, pressuring and bribing Ukraine’s president to interfere in our next presidential election on Trump’s behalf — that is too stupid or criminal for Republicans.

RIGHT WING EXTREMISM: DeSantis Courts Anti-Vaxx Voters by Changing Unemployment Rules to Give Them Benefits if They Get Fired: Report Florida’s Gov. Ron DeSantis administration is expanding the Republican governor’s anti-vaxx policies by altering state unemployment insurance rules to allow those fired for refusing the coronavirus vaccine to be eligible for benefits. “Extending unemployment benefits to the unvaccinated is just the latest in a series of proposals aligning the GOP with people who won’t get a COVID shot,” Axios reports, noting that Iowa, Kansas, and Tennessee have also changed their rules to favor anti-vaxxers. “Republicans see a prime opportunity to rally their base ahead of the midterms. No matter how successful their individual efforts, the campaign is a powerful messaging weapon,” Axios adds. Up until now being fired for cause – for refusing an employer’s requirements, including being vaccinated – has made terminated employees ineligible for unemployment benefits. “It’s like if your employer said, ‘Come in at 9 o’clock and you said, ‘Thanks for sharing, I’ll come in at 11.’ If you engage in deliberate misconduct like that, you won’t be entitled to unemployment benefits which are designed to be provided to those who are separated through no fault of their own,” he added. But DeSantis and his administration have been downplaying COVID and the coronavirus vaccine, promoting expensive COVID treatments over vaccines – treatments that financially benefit one of his top political donors.
(As Florida Gov. Ron DeSantis criss-crosses the state opening monoclonal antibody treatment centers using Regeneron as a post-exposure prevention for COVID-19, he is also being criticized because one of his top donors is a Regeneron investor.)

Despite Florida’s resident sickening and dying from COVID, DeSantis bribes people not to get vaccinated for free, and tells them to buy the unproven drug sold by one of his political contributors. But there is even more: Let us not forget this bit of stupid, right-wing extremism:

DeSantis Hires New Surgeon General: A Hydroxychloroquine-Pushing Physician Who Appeared in ‘Demon Sperm’ Doc’s Video Florida Republican Governor Ron DeSantis, responsible for one of the worst COVID-19 responses in the nation, has just announced his new Surgeon General, Joseph A. Ladapo, MD, PhD, a UCLA Medical Center physician and health policy researcher who appeared in the viral “Demon Sperm” quack doctor’s video that advocated the use of hydroxychloroquine to treat COVID-19.

Ladapo signed the Great Barrington Declaration which was a statement urging herd immunity (i.e., hope your neighbors get sick and live so they don’t pass it on to you) and rejecting any reasonable efforts to mitigate the spread of COVID-19. SUMMARY: In addition to paying people not to vaccinate, and accepting bribes to promote Regeneron instead of vaccination, Republican Governor Ron DeSantis appointed as Surgeon General, Joseph Ladapo, a quack who is anti-vaccination, anti-mask, but pro-hydroxychloroquine. This doctor said about vaccination, ““There is nothing special about them compared to any other preventive measure.” And this DeSantis character is who Republican voters support. As the circus magnate, P.T. Barnum may have said, “There’s a sucker born every minute” and they are the ones voting for Republicans. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

……………………………………………………………………..

THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

Monetary Sovereignty describes money creation and destruction.
Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.

MONETARY SOVEREIGNTY

Reason Magazine is confused. Wrong about inflation but partly right about tariffs. And partly wrong.

Read how the right-wing “Libertarians” take opposite sides of the same issue. Here are excerpts from an online Reason (Libertarian) article:

By Refusing To End Trump’s Tariffs, Biden Is Making Inflation Worse Trump’s tariffs are adding an estimated 0.5 percent to annual inflation. ERIC BOEHM | Reason |12.10.2021 Tariffs do exactly one thing: raise prices.

No, tariffs do exactly two things: Yes, they raise prices, but they also take dollars from the economy.

Right now, prices don’t need any help getting higher. Economic data released Friday by the Bureau of Labor Statistics show that year-over-year inflation hit 6.8 percent in November—the highest level recorded since 1982. Despite other indicators showing that the economy is strong, persistently high inflation is a serious problem for American households. That includes the current resident of the White House, for whom inflation is becoming a major political headache. There’s probably not much President Joe Biden can do to curb inflation in the short term. That ship sailed when he pushed for and signed off on a major economic stimulus bill earlier this year—one that economists warned was too large and could overheat the economy.

The “too large” phrase might make you believe Mr. Boehm believes stimulus is good, just not so much. Don’t be misled. For Libertarians all federal spending is “too large.” Had the stimulus package been $5, Mr. Boehm would have complained it was “too large.” Why? Just because. Libertarians are anti-government everything, and would prefer that the economy sink into depression than see more federal spending.

Other factors influencing inflation, like the disconnect between supply and demand that’s largely a result of the ongoing COVID-19 pandemic, are well beyond Biden’s (or any president’s) power to change.

“The disconnect between supply and demand” are not “other factors influencing inflation” They are THE factors causing inflation, the only factors. All inflations are caused by shortages. Today’s inflation is caused by shortages of oil, food, computer chips, lumber, shipping (and everything else that gets shipped), and labor. This stimulus package, like all previous stimulus packages, did not cause the oil shortage. It did not cause the food shortage. It did not cause the computer chip shortage. It did not cause the shipping shortage. It may temporarily have caused a labor shortage by giving people an alternative to low-pay, crap jobs. Unfortunately, the unemployment compensation safety net now has been pulled out from under workers, who the employers hope will be forced to accept those jobs.

But there is one thing Biden could do to immediately provide consumers with relief. He could eliminate the tariffs imposed by former President Donald Trump.

If Boehm is claiming that the tariffs were just another, stupid Trumpian attempt to punish China by punishing American consumers, he is correct. China doesn’t pay for American import taxes. Americans do. But what Boehm neglects to mention (or doesn’t realize) is that import tariffs take dollars from the American private sector (aka “the economy”) and give those dollars to the federal government, and that reduces the federal deficit and debt. And as anyone familiar with Libertarians knows, those folks absolutely hate the federal deficit and debt (despite the fact that whenever the deficit and debt are reduced we have recessions and depressions). So in the backward logic of Libertarians, deficit-reducing tariffs should be a good thing.

Those tariffs, which Biden has been stubbornly unwilling to reverse during his first year in office, are adding roughly 0.5 percent to annual inflation across the economy. Trump’s tariffs on washing machines, solar panels, steel, aluminum, and a host of Chinese-made goods are a “secondary but noticeable contribution” to overall inflation right now. That’s pretty much in line with what four economists at the San Francisco Federal Reserve warned in February 2019, shortly after Trump began slapping tariffs on various goods. “Imports from China are an important part of overall U.S. imports of consumer and investment goods,” they wrote. “Thus, tariffs on these imports are likely to have sizable effects on consumer, producer, and investment prices in this country.”

But wait. Remember Boehm’s “supply and demand” comment at the start of the article. He claimed, in effect, that increased demand is half the problem. But tariffs reduce demand. That’s the underlying purpose of tariffs. So in Boehm’s world, reducing demand via tariffs should mitigate inflation! And as we have said, tariffs are taxes. Deficits and debt are the difference between taxes and spending. Libertarians supposedly hate deficits and debt. Tariffs, i.e. taxes, reduce deficits and debt.

Unlike other policies that could help slow inflation, like raising interest rates, Biden could cut tariffs without having to wait for Congress or the Federal Reserve to act.

He’s right, but cutting tariffs also would increase the federal debt, which Boehm doesn’t want.

Similarly, cutting tariffs would not come with some of the negative tradeoffs that other actions might. Raising interest rates will harm the economy in other ways (for example, by making it more expensive to borrow).

Boehm is correct that Trump’s tariffs were, as usual, stupid. But he is dead wrong about raising interest rates. While raising interest rates makes borrowing more expensive, private borrowing adds stimulus dollars to the economy. Banks lend by creating dollars. Even more importantly, higher interest rates force the federal government to pump more interest dollars into the economy, which helps grow the economy. To quote from an article we published in 2018, “Interest rates going up. Should you be concerned?”

Rising Rates Could Further Balloon Interest Spending, Mar 21, 2018

The Federal Open Market Committee (decided) to raise the federal funds rate by 0.25 percentage points to 1.5-1.75 percent.

The federal government (is projected) to spend $6.8 trillion on interest costs over the next decade. If interest rates end up just 1 percentage point higher than projected, interest costs would increase by a further $2 trillion. If interest rates return to their pre-recession levels, costs could rise by $3.4 trillion.

Let us rephrase as follows:

The federal government (is projected) to pump $6.8 trillion interest dollars into the economy over the next decade.

Should a $6.8 trillion stimulus — which is similar in effect to a $6.8 trillion tax cut — be a cause for concern?

Contrary to popular myth, raising interest rates does not “harm the economy” as Boehm and many other economists claim. In fact, raising interest rates stimulates the economy by forcing the federal government to pump more dollars into the private sector.

**Blue line is interest rates. Red line is Gross Domestic Product growth.**

Higher interest rates are associated with higher GDP growth, because higher interest rates cause more money growth. The illusion that high interest rates “harm the economy” is caused by the stock markets, which decline in anticipation of raised rates. But anticipation is based on belief, not on fact. Adding dollars to the economy, which is what higher interest rates accomplish, stimulates economic growth.

Lifting tariffs will ease inflation and provide a tax cut to many American businesses.

Correct. Tump’s tariffs should be lifted, just not for the reasons Boehm claims.

Again: The one and only thing that tariffs do is raise prices. That is their only function.

Again, their other function is to take dollars from the economy, give them to the federal government (which has no use for them), and reduce deficits and debt (both of which are necessary for economic growth).

Politicians might want to deploy tariffs (to raise prices) for a number of reasons: to protect domestic industries, to influence where in the world individuals choose to invest, to retaliate against what they perceive as unfair trade practices from other countries, and so on.

Tarrifs are nothing more than a spite-one’s-face-by-cutting-one’s-nose exercise. All of the above goals can be accomplished via federal tax cuts and federal spending.

If Biden is going to keep ignoring this basic bit of economic reality, then he is choosing to make inflation worse than it already is.

The basic bit of American economic reality is this:

Inflation is caused by scarcity, not by federal spending. Not by “too much money,” but rather by too few goods.
Cutting tariffs does not increase supply, so it does not reduce inflation.
Inflation can be cured by federal spending to obtain and distribute the scarce goods.
Federal deficit spending is economically stimulative, i.e cutting taxes and spending both grow the economy
Interest rate increases are stimulative
Tariffs are not a good solution for any economic problem

While Mr. Boehm is correct about the need to cut tariffs, he is wrong about the way to cure inflation. That cure requires increased federal deficit spending to acquire and distribute the scarce products while decreasing taxes. A great place to begin would be to eliminate the FICA tax, which has zero positive effects, but increases business costs and drags down the economy. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

……………………………………………………………………..

THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

Monetary Sovereignty describes money creation and destruction.
Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.

MONETARY SOVEREIGNTY

The Day America Will End, Part II: The imminent danger

The previous post, “The Day America Will End,” describes how Donald Trump and the Republican Party are attempted to remake our American democracy into a theocracy, with Trump as the pontiff. Lest you believe that is mere partisan hyperbole, read these excerpts from an Axios article:

Inside Trump’s hunt for “disloyal” Republicans Axios Jonathan Swan, Andrew Solender
Trump’s vision
Donald Trump and his associates are systematically reshaping the Republican Party, working to install hand-picked loyalists across federal and state governments and destroy those he feels have been disloyal, sources close to the former president tell Axios.

In Trump-world, “loyalty” means unquestioned obsequence to Trump — not to America, not to your religion, not you or your personal moral code — but only to Trump no matter what Trump says or does, regardless of the evil it may do to America. Even the slightest deviation from absolute fealty will be punished.

If most or all of Trump’s candidates win, he will go into the 2024 election cycle with far more people willing to do his bidding who run the elections in key states.

If he had owned enough such people in January of this year, he would be President today, despite losing the election, and possibly, become President for life. We came that close.

He will also have a well-funded policy and political infrastructure and his own social media ecosystem. He’s made dozens of endorsements since last year’s election, with many more expected ahead of crucial primaries next year. Trump is tapping his national network of allies to identify Republicans who were “weak” in 2020 because they refused to go along with his efforts to overturn the election. No office has proven too small.

Trump is the living embodiment of the anti-democracy. His goal: Any vote that is not a Trump vote should be prevented, or if not prevented, discarded. In this regard, he wishes to out-Putin Putin (whom Trump admires) by controlling faked elections. Trump visualizes himself as becoming the absolute lord of America. And after Trump, Trump Jr? Or Ivanka, whom Trump groomed for power?

His apparatus touches everything from unseating governors, members of Congress, state legislators and secretaries of state, to formulating policy and influencing local school boards. One common thread with many of the candidates he’s backed so far: They all support his efforts to overturn Joe Biden’s victory.

While Trump was in office, he surrounded himself with liars, traitors, and criminals (see: How America is winning a national Darwin Award}. Now, in defeat, he has redoubled his efforts to gather the same amoral and immoral characters into a Trumpian crime sydicate. He is seeking out people who not only will obey him totally, but people who have no allegiance to America or to American mores or to American democracy. They are people who have no positive ideology, but merely wish to be close to royal power.

Trump-backed Georgia gubernatorial candidate David Perdue — who is challenging Gov. Brian Kemp in the GOP primary — told Axios’ Emma Hurt on Wednesday that he wouldn’t have signed the certification of the state’s 2020 election results if he’d been governor.

Will Georgia back Perdue, a notorious liar, who acknowledges he values Trump over America? We soon will see the power of bigotry vs. the power of true American patriotism.

Behind the scenes: Sources who have spent time with Trump at his Florida estate Mar-a-Lago say it’s impossible to carry out an extended conversation with him that isn’t interrupted by his fixations on the 2020 election. He’s intensely focused on demands that Republicans “get smart” and pursue efforts to “audit” and overturn that result.

Trump is maniacally blind to the fact that the results have been audited again and again, even by Trump-appointed judges and politicians, and in no case has anyone found enough so-called “steal” even to come close to overturning an election. Facts, be damned, Trump simply wants the fair elections to be ignored and for him to be named Emperor.

“We try to get him onto other topics, but you always get dragged back,” said an adviser to the former president. Trump is also thinking about the future. He’s not just taking the standard steps of establishing a PAC, courting donors, and building a political operation; he’s also trying to purge his critics from all levels of the GOPand replace them with loyalists who could object to the certification of future elections.

Revolutionary War - Timeline, Facts & Battles - HISTORY — **We fought to free ourselves of a ruthless, crooked king.**

If he succeeds, that will be the end of America as you know it.

He endorsed Rep. Jody Hice (R-Ga.), who lodged the objection to Georgia’s electors, in a challenge against Georgia Secretary of State Brad Raffensperger, who publicly resisted Trump’s efforts to overturn the election.

He encouraged Perdue’s primary run against Kemp. Perdue’s launch ad makes clear he agrees with Trump about what constitutes Kemp’s unforgivable sin.

Trump has also thrown his support behind secretary of state challengers in Arizona and Michigan. And candidates casting doubt on 2020’s election processes are also running in Wisconsin and Nevada.

Trump backed a challenge to Texas state Sen. Kel Seliger after Seliger cast the only Republican vote against an audit of the 2020 presidential election.

Trump has found an opportunity to rebuild Michigan’s GOP state legislature in his image, endorsing five first-time candidates based on their belief in his baseless “stolen” election claims.

Michigan state legislators are term-limited, giving Trump fresh opportunities to fill seats with loyalists. Trump unsuccessfully tried post-election to persuade state GOP lawmakers to reject the election results.

Trump has also endorsed a candidate for state attorney general, Kristina Karamo, who embraces conspiracy theories including her false claim it was “completely Antifa posing as Trump supporters” who stormed the Capitol on Jan. 6.

In Arizona, Trump endorsed the reelection of Arizona state Sen. Wendy Rogers, who led a letter with 138 state legislators calling for election audits in all 50 states.

He endorsed Kari Lake for Arizona governor. Lake told OAN she wouldn’t have certified Biden as the victor if she’d been governor.

Trump is also going after the few congressional Republicans who have defied him. He’s endorsed primary challengers to Sen. Lisa Murkowski (R-Alaska) and Reps. Liz Cheney (R-Wyo.), Fred Upton (R-Mich.), Peter Meijer (R-Mich.) and Jaime Herrera Beutler (R-Wash.) — all of whom voted for his impeachment.

What they’re saying: “To the dismay of Democrats and Republican-sellouts, President Donald J. Trump continues to be the most dominant voice in American politics,” Trump spokesperson Taylor Budowich told Axios in a statement.

In Trump-world, anyone who does not support his dictatorial ideas is a “sellout.” Consider being called a “sellout,” by the man who created the scam operation known as “Trump University” (for which he was forced to pay $25 million) and the fraud known as “Trump Foundation (for which he was fined $2 million).

“Through his Save America PAC and allied America First organizations, President Trump’s vision for America and the GOP will shape the future of our nation.”

God save America if this proves to be true.

Trump has called for bills instituting reforms some of his advisers say would have kept him in power.

Meaning, “kept him in power despite having lost the election by more than seven million votes.”

Republicans in state legislatures enacted dozens of voting laws this year — many designed in direct response to Trump’s post-election pressure. Trump cheered on Georgia’s sweeping voting bill, saying the GOP legislators “learned from the travesty of the 2020 Presidential Election.” He added, “Too bad these changes could not have been done sooner!” At least 10 bills introduced at the state level — none yet passed — would allow partisan actors to overturn election results. Trump’s relentless messaging has forged an alternate reality for his followers: 58% of Republicans in an Axios/Ipsos poll last month said there was enough fraud to change the outcome of the 2020 election. Now he’s harnessing that energy.

So long as the Republican party and its followers are willing to sell their souls in exchange for the possibility of political power, the free America of which you are proud, will be in grave danger. Ironically, the same GOP that preaches against COVID vaccine mandates because of “freedom” of choice, does not want you to have the freedom to choose your political leaders via free and fair elections. They support a man who, as you read this article, is doing his best to substitute his lies and “royal” decrees for facts and your freedoms. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

……………………………………………………………………..

THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

Monetary Sovereignty describes money creation and destruction.
Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.

MONETARY SOVEREIGNTY

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