“It is absurd to say our country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer, and the other helps the people.”
This quote reflects his critique of the financial system, emphasizing that issuing currency directly benefits the public, while issuing bonds primarily enriches the wealthy.
A Monetarily Sovereign nation’s economic health relies on the central government’s running deficits- large deficits- to pump growth dollars into the private sector.
The U.S. government does not need to borrow and, indeed, does not borrow.
You gotta love it when the Trump administration brags about doing absolutely nothing, and the MAGAs buy into the idiocy.
It’s low comedy on a national scale.
Consider the chest beating that the price of eggs has come down to “only ” triple what it was when it was quadruple previous prices.
Ask any MAGA what Trump did to achieve this pitiful result, and you will receive the usual angry, but blank, stare.
Of course, he did nothing, but hey, does that really matter to the cult zombies?
I mention this because of an article from MSM.
As you read the article, remember that because the U.S. government is Monetarily Sovereign, it has the infinite ability to create dollars merely by pressing what Elon Musk, in his ignorance, terms, “Magic Money Computers.”
Yes, the guy in charge of unnecessarily saving moneyfor the government doesn’t realize that the federal government creates dollars by pressing computer keys.
All his economy-damaging efforts accomplish nothing but . . . well, damaging the economy.
In just one day, the government earned $5 billion, informs Financial Express, citing US Secretary of Commerce Howard Lutnick.
US Secretary of Commerce Howard Lutnick stated that each card costs $5 million. Despite the high price, 1,000 of these cards were sold in a single day, generating $5 billion for the budget.
According to forecasts from the administration of US President Donald Trump, this initiative could bring in $5 trillion if 1 million cards are sold.
Congress could create $5 trillion or $500 trillion by a simple majority vote. The whole process would take as little energy as a 5-watt LED bulb uses in a second.
In total, 37 million people worldwide are considered potential buyers who can afford such an investment.
This program is known to be an alternative to the EB-5 investor visa, which the Trump administration plans to replace. The US government says the proceeds will be directed towards reducing the national debt, which has surpassed $36 trillion.
The US Secretary of Commerce, Howard Lutnick, doesn’t understand (or doesn’t want youto understand) thatFederal income does not fund federal spending. Unlike monetarily non-sovereign state/local governments, the federal government creates new dollars, ad hoc, to pay all its bills.
As a reminder, at the end of last month, President Donald Trump proposed replacing the visa program for foreign investors with the so-called “golden card.”
At that time, the website of the US Citizenship and Immigration Services (USCIS) noted that the EB-5 investor visa program, managed by USCIS, was established by Congress in 1990 to “stimulate the US economy through job creation and capital investment by foreign investors.”
US Secretary of Commerce Howard Lutnick stated that the “EB-5 program was full of nonsense, make-believe, and fraud, and it was a way to get a green card that was low price.”
Speaking of “full of nonsense, make-believe, and fraud, and it was a way to get a green card that was low price,” Joseph Goebbels, Hitler’s propaganda minister’s method was to “accuse the other side of that which you are guilty.”
Trump’s sale of green cards will import rich people, a dubious accomplishment, especially while he deports the workers who do the bidding of the rich.
It’s like an army composed solely of generals, lacking privates, corporals, and sergeants.
The sale of green cards will not lower your taxes and/or pay for anything. But fear not. Surely, all those rich new people will do the strenuous physical jobs that the deported aliens had been doing.
The Trump/Musk/DOGE troika has done incredible damage to America and it promises to do even worse, all in the name of saving taxpayers’ money.
Yet, despite the sound and fury, firings, and lawsuits, no taxpayer has seen even a penny in savings, nor ever will.
The reason is that federal taxpayers do not pay for federal spending, so saving the federal government money does not translate into savings for federal taxpayers.
State and local governments are “monetarily non-sovereign.”They cannot create dollars at will. They rely on taxes and borrowing to pay their bills.
The dollars in your paycheck and/or checking account are part of the M2 money supply measure. When they reach the Treasury, they cease to be part of any money supply measure. They simply disappear into our Monetarily Sovereign government’s infinite supply of money.
Whether you send $1 or $100 Trillion to the Treasury, the wealth of the U.S. government does not change.
Although sending your dollars to the federal government will make you poorer, it won’t help the government pay its bills—not even by a penny.
Don’t believe it when Elon Musk and Donald Trump tell you they are saving you money. They are cutting staff to destroy the safeguards that protect you from a dictatorship.
Everything Trump and his minion, Musk, do is to increase their personal wealth and power. In their philosophy, you will see no room for compassion or concern about the people.
Let’s face it: Blindly firing thousands of people while having no knowledge of what they do or how good they are at their jobs does not bespeak “efficiency,” no matter what the Department of Government Efficiency tells you.
Quite the opposite, it indicates the desire to replace law and commonsense with absolute power.
#Monetary Sovereignty - Mitchell 