Twitter: @rodgermitchell; Search #monetarysovereignty
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Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●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.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
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So they labored mightily, to build a complex machine, which they named “the EU,” and now they say it’s not working right, and they want to fix it, but they can’t agree on why they built it or what the machine is supposed to do.
———-THE EURO———-
Reform EU or Britain quits – George Osborne lays down ultimatum
Membership withdrawal threat after Tory MPs sign letter calling for dismantling of Europe’s core principles via veto powers
Nicholas Watt, chief political correspondent, The Guardian, Tuesday 14 January 2014Mats Persson, director of Open Europe, said: “There is a huge debate in Europe about what the EU’s defining mission should be in future – the single market or the euro?
Got it? Europe created the EU and the euro, but now has no idea why the EU exists or why the euro exists, and what they are supposed to accomplish.
There are those who believe the goal is to facilitate intra-Europe trade.
There are those who believe the goal is to create a united Europe politically.
Or financially.
Or militarily.
Or economically.
But they’re not quite sure why.
Or how.
There are those who believe the goal is to maintain the euro. But they too are not quite sure why or how.
And then there are the wealthiest Europeans who believe the goal is just to make a carload, boatload and trainload of money for themselves, at the expense of the lowly citizens, for as long as possible, until the pitchforks and torches show up.
George Osborne will today deliver a stark warning to Britain’s European partners that the UK will leave the EU unless it embarks on whole-scale economic and political reform.
[He wants to] dismantle the rules of the European single market which were drawn up to prevent France imposing protectionist measures by denying member states a national veto.
It goes like this: You are a Monetarily Sovereign nation, with two major assets: The unlimited power to create your own sovereign currency, and the unlimited power to determine your economic fate.
Obviously, you don’t want such a burden. You’d rather be a slave nation. So what do you do? You voluntarily surrender those most valuable assets, and you put your nations fate into the hands of some unelected, foreign bureaucrats called the EU.
Surprise! That hasn’t worked out so well:
The EU suffers from a chronic lack of competitiveness and the European economy has stalled over the last six years while the Indian economy has grown by a third and the Chinese economy by 50%.
[Osborne said,] “As Angela Merkel has pointed out, Europe accounts for just over 7% of the world’s population, 25% of its economy, and 50% of global social welfare spending. We can’t go on like this.”
O.K., so the euro has been an unmitigated disaster, as we who understand Monetary Sovereignty began predicting many years ago.
But wait!
The UK did not adopt the euro. The UK did not surrender its Monetary Sovereignty, the single most valuable asset any nation can have. The UK did not put its future into the hands of unelected, foreign bureaucrats. So everything is good. Right?
Well, maybe not.
Osborne is expected to say that (Prime Minister David) Cameron will press for a realignment of the rules of the single market to ensure the 18 members of the eurozone cannot outvote the 10 EU members, such as Britain, which have not joined the single currency.
So that is the big “reform” — a “realignment of the rules.” Still the same old euro. Still the same old bureaucrats. Still the same old economic disaster.
And no one really explains, on a cost/benefit basis, why the EU continues to exist.
And worse yet, the UK, despite retaining its Monetary Sovereignty — despite having the unlimited ability to create it sovereign currency, the pound — despite the unavoidable lessons of deficit cutting by euro nations — the UK austerity train just keeps rolling down the hill.
Why? Why the EU and why economy-crushing austerity, even in a Monetarily Sovereign nation?
Well, those are the great European mysteries — or they would be mysteries but for one small detail: Everything that has been done and will be done, is at the direction of the continent’s wealthiest people.
The same people who built the complex machine now volunteer to fix it, but they simply will rearrange a few parts, and the machine will continue to “work” as badly as before.
All this “build it, fix it, build it, fix it” is just a giant smoke screen — a misdirection to fool the masses and to hide the true purpose of the euro, the EU and their inevitable austerity-induced recessions and unemployment: To widen the gap between the rich and the rest.
The misdirection has been working and continues to work. Even America uses the same kind of misdirection for the same purposes.
The plumber keeps sabotaging the pipes, so you’ll have to keep calling him back, again and again, and paying him for every visit. He gets rich. You get poor. And the plumbing still doesn’t work.
The mysteries are solved. The purpose of the EU and the euro is to widen the gap between the rich and the rest. Period.
Rodger Malcolm Mitchell
Monetary Sovereignty
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Nine 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. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
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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.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports
THE RECESSION CLOCK
As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise. Federal deficit growth is absolutely, positively necessary for economic growth. Period.
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 