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.
●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.
==================================================================================================================================================================

This is the entire gold story in just five words: “Gold is safer than dollars.”

But don’t ask “why,” because that gets a bit confused. Here are some article excerpts from someone who regularly promotes gold [My comments inserted in brackets]:

The Daily Bell
Don’t Lose Your Gold

If you’ve included gold in your portfolio, you’ve made a wise move. Foreign currencies and foreign stocks also add to your safety – until someone takes them away.

An investor in the U.S. might wonder… what happens when a new law or a new executive order or a bureaucratic edict tells me to undo all I’ve done to internationalize my finances?

My name is Anthony Wile, and in addition to serving as Chief Editor of TheDailyBell.com, I also serve as Chief Investment Strategist for its publishing parent, High Alert Investment Management.

One way they make money is by advising people to buy gold. When gold is going up in price, they advise buying it (because it’s going up). And when gold is going down in price, they advise buying it (because it’s cheap). And mostly of course, because it’s so very safe.

What (some Americans) are all detecting is hints that leaving their financial lives tied 100% to conditions at home makes them vulnerable to the arbitrary actions of their home government.

This is under the nonsensical theory that there is some way you can insulate yourself from the arbitrary actions of your home government.

But then, Wile himself tells you why you can’t insulate yourself:

Here are eight of the worries that may make you tense up just a little:

Reckless (federal) borrowing. The U.S. government’s monster deficits are going to get paid for one way or another. [He goes on to demonstrate ignorance of Monetary Sovereignty by suggesting you are liable for the federal debt.]

So much paper money (always ending in runaway inflation.) It’s just a matter of time. [Except we never have had “runaway inflation,” and whatever inflation we’ve had, was not caused by “paper money.”]

The death of privacy. (making) any attempt to hold nearly any type of asset privately would turn you into a criminal. [Meaning you can’t hide your gold.]

Lightning asset freezes. Thousands of government employees, in the IRS and other agencies, hold a summary power to freeze all your bank accounts and any account you have with other financial institutions. [Meaning you can’t hide your gold with any financial institution.]

Guilty until proven innocent. [Which has nothing to do with any advantages of owning gold.]

Lawsuits. Anyone with substantial assets can be wiped out by a predatory lawsuit. [Including gold assets]

Government power now reaches everywhere. The people who used to work for you – people you confided in – now work for the government. [They are the people who will tell the government where you have hidden your gold.

Dishonesty has become the norm. Many public officials routinely lie. [Has nothing to do with owning gold, and it’s nothing new.]

Then the article gets to some partial “solutions.”

Perhaps you’ve taken some of the following steps.

Buying gold. It’s the one truly international asset, not tied to any particular country’s economy.

Storing gold outside the U.S. That should put some distance between the gold and problems in the U.S.

Opening a foreign bank account.

Buying life insurance or an annuity tied to a currency other than the U.S. dollar.

Setting up a foreign limited liability company for holding investments, especially foreign investments.

But no, these solutions don’t really work, because as Wile admits:

. . . the same government you are hoping to distance yourself from can compel you to undo every one of them.

Remember Wile’s admission: The U.S. government has the power to undo any step you may take to protect yourself from the U.S. government.

As Wile himself says:

If the U.S. government decides to restore the prohibition on private gold ownership that was in force from 1933 to 1974, you’d be stuck.

Holding gold outside the country does little to change things. Congress can easily make it a crime not to bring the gold back to the U.S.

If you lose a big lawsuit, . . . the judge (will) order you to bring the money home and hand it over.

When the U.S. government goes looking for foreign currency to use to protect the value of the dollar, your foreign life or annuity policy will be easy pickings.

So what’s a guy to do? Buy gold? Not buy gold? Wile has the answer:

The Only Robust Solution
You’d be kidding yourself if you thought you could rely on any of those solutions.

If leaving your financial life tied 100% to the US economy, the US tax system and the US justice system leaves you feeling uncomfortable, there is one and only one robust solution: Use an international trust to protect your assets.

The trustee you select (probably a licensed trust company) is subject to the laws of its own county – not to U.S. laws. It can’t be forced to do anything by any court or other government agency in the U.S.

Huh? What about the judge ordering you to bring the money home?

What about Congress making it a crime not to bring gold home?

What about “the same government you are hoping to distance yourself from can compel you to undo every one of them.“

And of course, there is another problem: What makes some other country safer than the U.S.? (Please name the nation you consider to be a safer custodian for your money than the United States.)

Of course, we’re talking about your money, so you won’t want to give up too much control. Getting the protection you want without handing too much authority to your trustee is a delicate matter.

The needed balance can be achieved, but it requires trust terms that leave you with just the right amount of say-so (not too much, and not too little), and it requires going to a country where the laws have been tailored for just that purpose.

“Delicate balance.” “Just the right amount of say-so.” “Not too much and not too little.” “Going to a country where the laws have been tailored.”

Well, that makes me feel safe — about as safe as walking on a wobbly high wire above hungry sharks.

So why is Anthony Wile suggesting such a high risk, low reward solution? I’ll give you one guess:

The best way I know of to get started is with Passport Financial’s International Trust Kit.

There just is nothing with which I can compare Passport Financial’s Trust Kit as a resource for understanding international trusts and then acting on that knowledge to get your assets out of harm’s way.

Appparently, Anthony Wile is branching out from marketing gold to marketing Passport Financial.

But, who is Passport Financial? Could it be this company?

Terry Coxon is the president of Passport Financial, Inc., a publishing company specializing in international financial planning, and is a senior editor for Casey Research.

Hmmm . . . And who is Terry Coxon?

On the basis of the (Security and Exchange) Commission’s opinion issued this day, it is

ORDERED that World Money Managers and Terence Michael Coxon be, and they hereby are, ordered to cease and desist from committing or causing any violations or any future violations of Section 206(2) of the Investment Advisers Act . . .

it is further

ORDERED that Terence Michael Coxon be, and he hereby is, ordered to cease and desist from committing or causing any violations or any future violations of Section 34(b) of the Investment Company Act of 1940, and it is further

ORDERED that World Money Mangers and Terence Michael Coxon, jointly and severally, shall disgorge a total of $971,777.54, and pay half the amount of prejudgment interest as described at 17 C.F.R. § 201.600(b), due from September 21, 1993, which we deemto be the date of their violative conduct . . .

And then there was:

In her May 31, 2005 order, Judge Patel found that the Commission had established Coxon’s failure to pay the disgorgement and interest amounts.

Judge Patel also determined that Coxon had the ability to pay some of that amount and was therefore in civil contempt.

Unless (certain) payments are made, the Court ordered Coxon incarcerated pending payment or a showing of good cause for failure to make payment.

Now, in all fairness, I don’t know how, or even if, Wile is associated with Terence Coxon, or if that is the same Terence Coxon who was mentioned in the above proceedings, or if Coxon was found innocent on appeal, or really anything more about what Wile is recommending than what’s printed here.

But somehow, if I were looking for financial security, I’d not first turn to gold, to Anthony Wile or to Terry Coxon.

That’s just my opinion.

What’s yours?

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
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.
——————————————————————————————————————————————

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

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

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.
●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.
==================================================================================================================================================================

O.K., we already knew the ironically termed “religious” right hates gays, browns, blacks, yellows, reds, Jews, Muslims, pregnant women, aliens, the unemployed, the poor and any form of gun control.

But, do they now hate Catholics, too?

The Koch Brothers Launch A Surrogate War Against Pope Francis
By: Rmusemore from Rmuse, Friday, January, 2nd, 2015

One of the greatest things to happen over the past year is the remarkable revelation that there is finally, at long last, a major Christian leader, and member of the clergy, who espouses, embraces, and promotes the teachings of Jesus Christ.

Even for an avowed secular humanist, this is a stunning, and welcomed, development if for no other reason than one of the world’s leading religions appears to be adopting Christ’s regard for the world’s poor and downtrodden.

Of course, the Catholic Pope has garnered nothing but serious opposition and pushback from America’s evangelical and Catholic Republican movement, and now the Koch brothers and their dirty energy cabal have joined what is developing into a dirty oil-evangelical war against Pope Francis.

The Pope already drew the wrath of both evangelical and Catholic Republicans in Congress for criticizing the greed and income inequality championed by the GOP, but now he has the undivided attention of the Koch brothers, Exxon, and their dirty energy cohorts.

The cause célèbre for the Koch-funded evangelical movement is the Pope’s recent announcement that it is beyond high time for the world, and “all Catholics” to join the fight to reduce the existential threat to human beings from anthropogenic climate change.

A Koch-funded evangelical Christian group made up of pastors and Christian leaders, the Cornwall Alliance, that considers the devastating effects and great cataclysms we witness from the effects of anthropogenic (manmade) climate change the will of almighty god and biblical.

(They say) if man destroys the environment and threatens human existence, it is god’s will and they will fight to see climate change’s full effects to fruition; for god, the bible, and the mountains of cash from the Koch brothers dirty energy cabal.

Cornwall Alliance spokesman, Calvin Beisner, warned the Pope that he had better “back off” talking about combatting climate change, and “to believe in climate change is really an insult to god and will lead to tyranny.”

Leave it to American-style bastardized Christianity to know what their god considers and insult; unless their “god” is the Koch brothers’ dirty energy industry money.

It is highly likely (the Pope’s) war on global climate change will garner widespread support from the estimated 1.2 billion Catholic devotees around the world. Still, with only millions of American “onward Christian soldiers” in the evangelical movement opposing the Pope, and unlimited Koch and oil industry money, one can only assume that the Koch war on the Pope will not end quickly; at least not in America.

Life is filled with ironies. Christianity, a religion based on Christ’s love for humankind, is most ardently espouced by people whose primary emotion is hatred of humankind — specifically “all them who ain’t us.”

And this hatred leads them to deny that a threat to long-term human survival even exists. Never mind the overwhelming scientific evidence that human-created atmospheric CO2 is warming the earth, and doing so will destroy life as we know it. The “religious” right knows God’s and the Koch’s intent.

The article’s author claims that for the “Kochers,” the destruction of humankind is not a threat, but a goal.

Evangelicals could not care one iota less if Earth becomes uninhabitable because something about an absurd idea of being “raptured” away for a ring-side seat as those sinners “left behind” receive god’s almighty wrath in the war of Armageddon.

And these haters comprise the base of the Republican party that won the most recent American state and local elections.

How shall we interpret that?

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
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.
——————————————————————————————————————————————

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

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

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.
●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.
==================================================================================================================================================================

According to the Reason.com website:

Matt Welch is editor in chief of Reason, the libertarian magazine of “Free Minds and Free Markets.” He is co-author, along with Nick Gillespie, of the 2011 book The Declaration of Independents: How Libertarian Politics Can Fix What’s Wrong With America, which Tyler Cowen called “the up-to-date statement of libertarianism.” Welch also wrote the 2007 book McCain: The Myth of a Maverick.

Recently he wrote and published: If We Only Spent All the Money, Then Everyone Would Be Prosperous!.

In attempting to prove that federal government spending is counter productive (the usual libertarian dogma), he asked four questions (probably assuming they could not be answered).

But we answered:

1) Why were states not measurably more prosperous after increasing government spending by more than 80 percent in real terms between 2003 and 2007?

Our Answer: The states, unlike the federal government, are monetarily non-sovereign. Their spending is funded by taxes and borrowing. To increase spending, they must increase taxes or borrowing — both of which ultimately punish local taxpayers.

By contrast, the federal government is Monetarily Sovereign. Federal spending is not funded by taxes or by borrowing. The federal government creates dollars ad hoc, by paying bills, which is why federal spending is stimulative while state spending is not.

2) Between the time of Bill Clinton’s last submitted budget of $1.8 trillion, and Barack Obama’s first submitted budget of $3.6 trillion, did the average American become more or less prosperous?

Our Answer: While the rich get richer, the “average” American has not benefited sufficiently from GDP growth. Said another way, the Gap between the rich and the rest has widened.

There are many reasons for this, having to do with tax laws, labor supply and mostly the political power of the rich. Just one example: Consider FICA’s huge negative effect on “average” people, and the minuscule effect on the rich.

3) The United States after World War II, Canada in the 1990s, and Australia in the 1980s all became significantly more prosperous—despite ample warnings to the contrary—after cutting, not increasing, government spending. Wha’ happen?

Our Answer: Depends on what you mean by “significantly more prosperous.” GDP has risen in a relatively smooth line since 1945, with the exception of recessions.

Every depression in U.S. history, and almost every recession, has immediately been preceded by reductions in deficit growth and cured by increases in deficit growth. [See Items #3 and #4 at: Summary ]

4) Is there a ceiling on what percentage of GDP the government should account for, and if so why should there be one, and where should it be?

Our Answer: No, there is no ceiling and no reason for a ceiling.

If ever you’d like to discuss these facts, please feel free to contact me.

Rodger Malcolm Mitchell

Sadly, the libertarians never have acknowledged the basic facts of Monetary Sovereignty. To show how this ignorance continues through the years, here is a Reason.com article from May 2009

“Gov. Sanford says that he does not want to take the money, the federal stimulus package money,” (Gov.) Schwarzenegger told ABC’s This Week on February 21, 2009. “And I want to say to him: I’ll take it. I take it because we in California…need it.”

But does California, or any other state, really “need” federal money during this economic downturn? Only if you accept the premise that state budgets should roughly double every decade.

No, Mr. Welch, the states need federal money because they are monetarily non-sovereign. They do not have the federal government’s unlimited ability to create their sovereign currency, because they don’t have a sovereign currency.

Unlike a Monetarily Sovereign government, which is sovereign over its currency, a monetarily non-sovereign entity needs income to support spending. That is why long term survival requires a positive balance of payments for states, counties and cities, but not for the federal government.

It remains a mystery why educated people continually state their belief that federal finances are like state and local (and personal) finances. The evidence is right in front of their noses.

You and I, like state and local governments and businesses, are monetarily non-sovereign. All of us, in order to pay our bills long-term, require our total income to equal or exceed our total outgo. The federal government neither needs nor uses income to pay its bills.

In 40 of the past 45 years, the federal government has run deficits. And the five non-deficit years saw only modest surpluses. Today, federal spending has exceeded taxes by about $18 trillion (depending on what’s counted). Yet, the federal government has no difficulty whatsoever paying its bills — nor ever will.

In short, to buttress their false logic, libertarians and others ignorant of economic reality, repeatedly equate monetarily non-sovereign governments with Monetarily Sovereign governments.

We very seriously wonder: What is there about Libertarians that makes them incapable of learning economics?

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
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.
——————————————————————————————————————————————

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

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

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.
●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.
==================================================================================================================================================================

Robert Bostick just published in OpEd News, an article that truly has stunned me: Here are a few excerpts:

Did this Really Happen??

In late Dec, 2014 House Speaker John Boehner and the troubled Majority Whip and other House leaders met behind closed doors with a delegation from the U.S. Chamber of Commerce and to lay out what should and should not happen during the upcoming 114 th Congress.

While they provided key talking points to the media for CYA purposes, there was a major discussion on budget, monetary and fiscal policy and only a small portion was released for public consumption; no more budget ceiling games by far right proponents of ideologically foolish obstructionism..

“Our No. 1 focus is to make sure, when it comes to the House and Senate, that we have no loser candidates,” said Scott Reed, the top political strategist for the U.S. Chamber of Commerce, told the Wall Street Journal. “That will be our mantra: No fools on our ticket.”

Now that would be refreshing, but bad news for Louis Gomert, John Boehner, Steve Scalise and the rest of the right wing idiot patrol.

And that doesn’t even get into all the FOX news crazies, the Republican governors who refused the Medicaid upgrade that would have pumped billions into their states, and on and on and on. The party is loaded with fools. (See: This Week In Crazy.)

“The Speaker, and the entire leadership team, urged all House Republicans to support the [budget] agreement, which ignores the deficit and eschews raising taxes,” said Boehner’s spokesman, Michael Steel.

This sharp turnaround is notable, first, because it signals to the rest of Washington that Republicans have spent too much time on ideology instead of legislation. Second, they have something else brewing, since they’ve written off whining about deficits and spending.

That ‘something else’ is contained in a brief prepared by the COC informing the House leadership that continuing to harp on the need for spending cuts during a recession will have serious consequences for campaign strategy leading to the 2016 elections.

Remember that despite its government-sounding name, the U.S. Chamber of Congress is, and has been, the mouthpiece for the rich, right wingers. This is the same COC that published on the COC website the following:

“It is the role of the government to responsibly manage our nation’s finances so that: we have the resources to invest in priorities that are essential to our national security and competitiveness; we can provide a sustainable safety net for the sick, elderly, and poor without depleting all of our other financial resources; and we can ensure that future generations aren’t saddled with debt they didn’t incur.

“In order to meet those obligations, the Chamber is calling for government reforms that will address the looming crisis of unsustainable entitlement programs, keep deficit spending low for the long-term, and rein in our growing debt.”

That was then. This is now. Everything has changed. According to the Bostick article:

The COC, warned that there are elements in the public prepared to totally discredit any candidate who continues to deny the need for Federal Public Sector spending when consumer demand is now marginal and which would alleviate deteriorating economic and social conditions for more than one third of Americans.

WHAT??! Suddenly the people who want to “keep deficit spending low” and “rein in our growing debt,” have become aware of the “need for public sector spending?

And these right wingers, formerly concerned about the phony “problem of “future generations saddle with debt, now are more worried about deteriorating economic and social conditions for more than one third of Americans.”

Can you believe it? Why the change? If you wonder why, it’s because those “elements in the public” finally might learn that all these years, the Republicans have been lying, lying lying — the Big Lie.

COC warns that ” .. soon, Republicans will be challenged to explain why they insist on telling America that it can’t afford to spend when it knows that there are no real constraints when inflation is low and unemployment so high …”

Buried in the document was this, “More and more academics on both sides of the political divide have grudgingly, accepted the fact that the Federal Government can no longer operate as it did under the gold standard. Fiat currency is here to stay and because it can be spent without reference to revenues, Congress will be blamed for not appropriating to serve the needs of all Americans.”

OH MY GOD! The Republican Party suddenly has joined the Monetary Sovereignty school of thought.

Their fear is that economic facts will trump religious, right-wing, economic myth, and the people will find out.

It continued, “Ironically, if Congressional leaders publicly acknowledge this fact, the public will question the need for Federal tax revenue.

Any response will need to be truthful but carefully parsed to avoid outcries of misleading the public and indeed distorting the facts on the need for austerity.

Yes, indeed. The public will question the need for Federal tax revenue — as in: There is no need for Federal tax revenue. Ah, what a revelation.

And here is the best part of all. I hope you’re sitting down before you read this. COC said:

“We advise all members to become familiar with the concept of Monetary Sovereignty, so that they can begin to develop appropriate responses for media and constituents.”

As Victor Hugo said: “Nothing is stronger than an idea whose time has come.”

The time for Monetary Sovereignty has come.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
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

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