–The legacy of our generation

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

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, and the motive is the gap.
======================================================================================================================================================================================

Greatness is rare. Few nations and few generations achieve it.

We achieved greatness when our ancestors crossed a dangerous ocean. And when we fought the king. And when we died to give slaves their freedoms, and when we died again, to give them their rights. And when we climbed the cliffs of Normandy and when we raised our flag on Iwo Jima, and when Rosie the Riveter worked the lines.

We were not perfect. We were ordinary people, but we were heroes.

We could have turned away from Europe and surrendered the Pacific. We could have built a wall around America and hidden behind it.

Instead, we reached out to the frightened and the destitute. We sheltered them in our mighty embrace.

We rebuilt our former enemies, to give their citizens the freedoms they would have denied us. What nation does that? We battled selfish instincts to create social programs, so that our poor could rise up and share in American freedom.

Today, we look back in pride at those generations who gave more than they received, so that future generations might receive more than they are forced to give.

And, once again, we are called upon.

The oppressed, beaten and starved children of poverty stand at our southern door, faces upturned in hope, praying us to allow them entry to the American dream.

What is the meaning of America? When called, we answer, not with cynicism but with compassion, not with complaint, but with resolve, not with closed minds, but with open arms.

Sadly, the previous generation built an ugly wall of selfishness and shame. American history will not remember them kindly, if at all.

Now has come our turn in the sun. Will we answer as our great generations have? Will we be the true American patriots, not with flags, but with deeds? Will future Americans look back upon us with pride?

Let us uncover the bright light of generosity that is America. Let us once again, lead the world. Let us begin now, to create our legacy.

Mr. President, tear down that wall.

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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)

—–

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

Vertical gray bars mark recessions.

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

–All in this one short, simple page: How to know more about economics than your friends.

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Yesterday, a plane took off, while another plan landed — at the same time, on the same runway. Most Americans would have described it as a “near miss.” A TV reporter called it a “near hit.”

The word “near” has at least two, different, though similar, meanings, one related to physical distance (“nearby,” “close”) and the other related to conceptual distance (“almost,” “nearly”). The latter can be colloquial (“I near fell off my chair.”)

The TV announcer undoubtedly thought he was being liguistically correct. (The planes didn’t actually hit, so it was a “near” hit). But his usage was clumsy and made confusing by the word “hit.” (They didn’t hit; they missed.)

I believe “near miss,” using the close-physical-distance meaning of “near,” and including the word “miss,” is less confusing and more intuitive.

Naturally, this all sent me back to thinking about why some people find economics in general, and Monetary Sovereignty in specific, confusing and counter-intuitive — and how it can be dead simple.
——————————————————————————————————————————————————————————————————————————
Mathematically, Monetary Sovereignty should seem intuitive. It relies, in part, on five, fundamental, very simple formulas:

1. Money = Debt
2. Federal Spending + Non-federal Spending + Net Exports = Gross Domestic Product (GDP)
3. Federal Deficits = Private Income
4. Demand/Supply = Value
5. Reward/Risk = Demand

Increase or reduce the left side of each equation to increase or reduce the right side. Simple and straightforward, mathematically.

But linguistically, Monetarily Sovereign economics can be confusing. Consider the fact that all money = “debt.” Here there is confusion about the meaning of money, and I suspect even greater confusion about “debt.”

If you “have” (own) a lot of money, that is a good thing, but if you “have” (owe) a lot of debt, that is a burden. So how can money = debt?

This confusion is about the two meanings of “have” (“owe” and “own”) and the two sides of debt.

For any debt, there is a debtor and a creditor. For the former, a debt is a burden and an obligation; for the latter it is an asset. When the government (the public sector) “has” (owes) debt, the public (the private sector) has (owns) the debt.

(Oops, more confusion. The public is the private sector and the federal government is the public sector — and state governments are part of the private financial sector).

If all money is debt, who is the creditor and the debtor for a dollar? The creditor is the owner of that dollar. The debtor is the federal government, which owes the creditor the collateral for the debt: “Full faith and credit.”

This collateral includes such valuable guarantees as:

–The government will accept U.S. currency in payment of debts to the government
–It unfailingly will pay all it’s dollar debts with U.S. dollars and will not default
–It will force all your domestic creditors to accept U.S. dollars, if you offer it, to satisfy your debt.
–It will not require domestic creditors to accept any other money
–It will take action to protect the value of the dollar.
–It will maintain a market for U.S. currency
–It will continue to use U.S. currency and will not change to another currency.
–All forms of U.S. currency will be reciprocal, that is five $1 bills always will equal one $5 bill and vice versa.

The notion that simple guarantees can be collateral may seem confusing to some, but it happens every day. When you use your credit card, you actually borrow money from the credit card company, and the collateral for your debt is your own full faith and credit (which is different from the federal government’s full faith and credit).

Which brings us to what I consider economics’ most confusing word — or at least the word misunderstood by the most people: Sovereignty.

There is an analysis of “sovereignty” at “Lunch really can be free.”

Think of the U.S. government as the God of the dollar. The government originally wrote the laws that created the dollar. Thus, like God, the government created the dollar from nothing.

Without the U.S. government, there would be no U.S. dollar.

The existence of the dollar depends on the laws created by the government, and the government created all those laws from nothing. Because the government never can run short of laws, the government never can unintentionally run short of dollars.

Even if all federal taxes fell to $0, the government would not run short of dollars.

Returning now to the five fundamental equations:

Looking at equation 1., why would anyone want less federal debt?
Looking at equation 2., why would anyone want less federal spending (i.e “smaller government”)?
Looking at equation 3., why would anyone want smaller deficits (since the government cannot run short of dollars)
Looking at equation 4., what is the best way to avoid inflation (reduced value of the dollar)? No, not decrease Supply. Remember equations #1, #2 and #3. The answer is to increase Demand.
Looking at equation 5., what is the easiest way to increase Demand? Increase the Reward for owning dollars (interest).

And that’s it. Five simple equations. Everything else merely devolves to arguments and speculation about details and interpretations.

What you read and hear in the media are the arguments, speculations and interpretations, but you seldom are told the fundamentals.

By concealing the fundamentals, those with an agenda are able to offer confusing, contradictory and harmful hypotheses, involving such notions as “small government,” “austerity,” “unsustainable debt,” “return to gold” and “unsustainable spending” — all nonsense based on nonsense, packaged into the BIG LIE.

When any of your friends, or a talking head on TV, expresses an opinion about economics, see if that opinion comports with the five equations.

You probably now know more than any of your friends.

Rodger Malcolm Mitchell
Monetary Sovereignty

—–

#MONETARY SOVEREIGNTY

–Mystery solved. Why the Republicans actually love Obama.

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Recently I wrote to my Democratic, formerly liberal Senator, Dick Durbin, and received the following response:

July 7,2004

Dear Mr. Mitchell:

Thank you for contacting me about Michael P. Boggs’ nomination to the United States District Court for the Northern District of Georgia. I appreciate hearing from you.

Judge Boggs received his B.A from Georgia Southern College and his J.D. at Mercer University’s Walter F. George School of Law. Boggs has been a judge on the Court of Appeals of Georgia since January 2012.

Previously, Boggs served as a Superior Court Judge in the Waycross Judicial Circuit of the First Judicial Administrative District of Georgia from 2004 to 2012. While serving as a Superior Court Judge, he established and presided over the court’s felony drug court program.

On January 6, 2014, Michael Boggs’ nomination was received by the Senate and was referred to the Judiciary committee, of which I am a member. As a member of this committee, I will be considering this nomination carefully and will keep your views in mind.

Thank you again for contacting me. Please feel free to keep in touch.

Sincerely,
Richard J. Durbin
United States Senator

That Boggs sounds like a heck of a guy, doesn’t he? This was my response to Durbin’s note:

You forgot to mention that he voted to retain the Confederate insignia in the state flag of Georgia; he voted to restrict access to abortion; and he voted to ban same-sex marriage.

The problem with most so-called Democrats is very simple: They lack spines. The Republicans have all the passion. The Democrats (with the exception of Senator Elizabeth Warren) are about as firm as overcooked noodles.

Consider this:

Embattled Nominee Michael Boggs Held Up As Other Judicial Candidates Moving Forward

President Barack Obama agreed to nominate Boggs as part of an all-or-nothing package of seven nominees he negotiated with Georgia’s two senators.

Obama made some notable concessions — four of the nominees are GOP picks and only two are black, in a state with a large black population — but the upside for the White House was that long-empty seats in Georgia would be filled.

Durbin and Senator Frankin previously had claimed they will vote against Boggs. But in this latest note he is waffling, as usual.

Anyway, here is a so-called “Democrat” President, who also controls the so-called “Democrat” majority in the Senate (which advises and consents to judges), and the majority of his nominations are Republicans!

And the 51 year-young Boggs, the right-wing, Southern bigot, is up for a lifetime post on the U.S. District Court for the Northern District of Georgia! He could be a judge, rendering anti-gay, anti-choice, anti-black decisions for another 30 years! Does Obama care?

Can you imagine a Republican President nominating a Democrat majority to lifetime judgeships?

I believe the right wing secretly loves Obama. They need him.

More than a valuable stalking horse for right-wing politics, this anti-Social Security, pro-FICA-increase on the middle-class, pro-sequester, pro-austerity, pretend “liberal” actually is one of them.

Bought and paid for.

Rodger Malcolm Mitchell
Monetary Sovereignty

—–

#MONETARY SOVEREIGNTY

–There was a rape in Philadelphia!

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

I know you’ll be shocked to learn this, but there was a rape in Philadelphia.

According to the National Crime Victimization Survey by the Bureau of Justice Statistics, 39,590 men and 164,240 women were victims of rape, attempted rape, or sexual assault in 2008.

So why should you be shocked by one rape in Philadelphia? Because this one rape made headlines in the Washington Times.

Why?

Because the Washington Times is not a real newspaper. It is a bought and paid for (by Reverend Moon’s Unification Church) propaganda machine, the sole purpose of which is to foment anger at anything not adhering to the “religious” right-wing agenda.

Here is the “shocking news” about the accused rape:

Two-time illegal immigrant charged with rape

Milton Mateo Garcia, 28, was caught one year ago entering the U.S. illegally across the Mexican border and was deported back to his native Honduras.

Living and working in sanctuary, Mr. Garcia last month, according to police, approached a 26-year-old Philadelphia doctor. He is accused of forcing the woman into her apartment and raping her repeatedly.

It’s Philadelphia’s official policy (not) to deport illegal immigrants unless the person has been convicted of a violent felony.

Philadelphia thinks it’s stupid, a waste of human resources and inhumane to try to deport every single undocumented immigrant in America — especially considering there are estimated to be more than 12 million of them.

So Philadelphia limits its efforts to real criminals — those convicted of a violent felony. Mr. Garcia never even had been charged of anything, much less convicted.

Not good enough for “religious” right-wingers, who want to ship all 12 million souls out — men, women and children — no matter how many years they may have established a life here, and no matter whether or not they have been good, hard-working assets to America.

Just ship ’em out, like garbage, those men, women and children. Send them into drug war zones. Destroy their lives, just because they don’t have that piece of paper our government has made so difficult to obtain.

And here is the kicker from the Washington Times:

(Garcia) could become the Willie Horton of the immigration crisis.

As with the case in the 1980s of Horton, a convicted felon whose additional crimes while on prison furlough provoked a political furor, Mr. Garcia’s situation highlights many of the criticisms of the administration’s handling of immigration — from encouraging illegal immigrants to make the journey to the U.S. to failing to secure the border and allowing a patchwork of sanctuary cities and counties where immigrants need not fear deportation.

To add emotion to its nonsense, the Washington Times uses the false comparison with, “Willie Horton,” the notorious black (!) convicted felon, an American citizen, who though having already been convicted of murder, was given a weekend furlough program. He later he committed assault, armed robbery and rape.

By contrast, Mr. Garcia was convicted of nothing.

So why the comparison by the Washington Times? Two reasons:

1. Both men were not white, clearly a crime in of itself, in the eyes of the Washington Times.
2. The name “Willie Horton” as been used by the “religious right-wing, for the past 25 years, as a fear/hate word, to frighten the weak-minded about imminent danger from blacks and browns.

Mr. Garcia’s crime: He sneaked into the United States. Mr. Horton’s crime. He was a convicted murderer, robber and rapist. To the Washington Times, this is equivalence.

(As an aside, Willie Horton was captured by Corporal Yusuf Muhammad of the Prince George’s County Police Department.)

Yes, there remain some liberal media, though not as many as in the past. Even the formerly liberal Washington Post has moved way to the right. (The rich own the media and the rich place the advertising — and the rich tend to be conservative).

But I know of no liberal medium that slants the news and spreads vicious propaganda to the extent of the “religious” right media. I know of no “news” medium that will, shall I say, “muddies the facts” as do, for instance, the Washington Times or FOX News.

There is a reason why the most self-proclaimed “religious” speakers seem most likely to bend the truth, but that’s a story for another article.

The bottom line: One person in Philadelphia was physically raped, and subsequently, thousands of Washington Times readers were mentally raped.

But as “religious” right-wing, Texas, gubernatorial candidate Clayton Williams said about rape, “If it’s inevitable, just relax and enjoy it”

To readers of the Washington Times: Don’t be so frightened by those fake “Willie Horton” stories. Just relax and enjoy your daily rape.

Rodger Malcolm Mitchell
Monetary Sovereignty

—–

#MONETARY SOVEREIGNTY

Share this:

Share this:

Share this:

Share this: