Twitter: @rodgermitchell; Search #monetarysovereignty
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It takes only two things to keep people in chains: The ignorance of the oppressed and the treachery of their leaders.
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It hasn’t been often that I can make this statement about a lying, egocentric, criminal, misogynistic, bigoted, Putin puppet. But Trump is right:

Trump: Brexit ‘A Great Thing,’ EU to Continue to Break Apart
By STEVE PEOPLES, ASSOCIATED PRESS, NEW YORK — Jan 15, 2017, 7:50 PM ET

Donald Trump said Britain’s decision to leave the European Union would “end up being a great thing” and predicted the bloc would continue to break apart.

Absolutely correct.  I said it in 2010:

(“Because of the Euro, no euro nation can control its own money supply. The Euro is the worst economic idea since the recession-era, Smoot-Hawley Tariff. The economies of European nations are doomed by the euro.”)

I continued to say it in 2016:

(“The EU was invented by the rich, insatiable bankers who always want to grab more and more money and power. At least the UK was smart enough to keep their own currency.

“Greece, France, Italy, et al surrendered the single most valuable asset any nation can have — their Monetary Sovereignty — and so have been at the mercy of the rapacious bankers, who have been bleeding them ever since.”)

And I continue to say it today. The UK never should have joined the EU, never should have stayed with the EU for as long as it has, and now should leave just as quickly as it can, and never look back.

As reader “Mike” wrote last year:

When the UK joined in the early 70s and voted to remain in 1975, we joined what was then called the European Economic Community (EEC) or Common Market. There were no political connotations, it was simply a free trade area.

Over the years since then, the EEC morphed into the European Union (EU) which created a European Parliament, a European Court, a European Currency (the Euro) with a European Central Bank, a European Foreign Service and many other institutions and trappings of a sovereign state.

In short, the EU became the ruling body of its member “nations.” (I put “nations” in quotes, because what kind of nation not only gives up its single most valuable asset — its Monetary Sovereignty — but also cedes the power of its parliament, its courts, its central bank, its immigration rules, and its borders, to an alien consortium of bankers?)

Illinois and Mississippi have more claim to “nationhood” than do France and Germany. At least all of America’s citizens are able to vote for their Congress and their President.  The EU nation’s citizens have no vote for their real leaders, the EU bankers.

Trump doesn’t base his opinion on what’s best for Europe, however. He is more interested in immigration, his own money and what Putin tells him to say.

European countries are reacting to an influx of immigrants that threaten each nation’s identity.

Trump: “People, countries want their own identity and the UK wanted its own identity,” Trump said in an interview with London’s The Sunday Times and Bild, a German newspaper.

“Want their own identity” is Trump’s code for “Keep Muslims out. Keep Mexicans out. Keep foreigners out.”

“I believe others will leave,” he continued. “I do think keeping it together is not gonna be as easy as a lot of people think. And I think this: if refugees keep pouring into different parts of Europe…I think it’s gonna be very hard to keep it together, because people are angry about it.”

Trump indicated he was indifferent to whether the EU stays together or not, a sharp break from the Obama administration, which encouraged Great Britain to remain in the EU last year.

Obama loved anything that was good for the rich and especially for the rich bankers. As we have said previously:

Obama is a pseudo-liberal, a right-winger in liberal disguise. He opted for cutting Social Security and Medicare, begged for a “Grand Bargain” that would have widened the gap between the rich and the rest, and brought into existence the Simpson/Bowles Committee,  designed to cut all social spending.”

Now, he backs the EU, because it is a feeding trough for bankers.

(Obama always has been a flunkie for the bankers. Presumably, they will return the favor and support him and his family in luxury, for the rest of their lives.)

In his role as bank stooge, he bailed out the banks, then failed to prosecute a single lawbreaking bankster. He will be remembered as the “bailed and failed” President.

The vote injected instability across the region and triggered calls for similar moves in France, Sweden and the Netherlands. It also weakened the 28-nation bloc’s ability to push back against Russian aggression in Ukraine, among other regional challenges.

And weakening  Europe’s ability to fight Russian aggression is exactly what Putin (aka “Trump puppet-master”) wants.

Trump also took aim at another key western alliance in the interview.

He called the North American Treaty Organization, commonly known as NATO, “obsolete because it wasn’t taking care of terror” and said member organizations aren’t paying their “fair share.”

Could it get more “Putin” than that? Sow discord in NATO, because they aren’t paying their “fair share,” despite the fact that the U.S. never can run short of the dollars to pay everyone’s “fair share.”

NATO benefits America, and even if the other NATO nations paid nothing, and America paid everything, it still would be a defense bargain for America, with other nations contributing military personnel.

Mark 1/27/17 on your calendar, as the date you read the following:

Britain finally was smart to leave the EU. When will the other nations, whose leaders have been bought and paid for by the wealthy bankers, follow Britain? The timing is uncertain, but the result is beyond doubt. They will leave. 

Greece is lying on the gurney,  being bled by the EU, and is alive only because the leeches want to drain out that last drop of blood.  France will follow. Then perhaps Portugal.

All euro nations eventually will reinstate their own sovereign currencies, and by reclaiming the ability to create money, will be able to cease imposing austerity. : 

There is only one question about EU austerity:

Is it murder by the EU or is it suicide by each nation? Either way, the victim — the nation — dies.

Meanwhile, Russia will begin to make moves against its former Iron Curtain provinces, as it did with Crimea.

What will President Trump do about that? It all depends on how much money Putin tells him he personally can make in Russia.

Then, there’s China. With Trump’s xenophobic protectionism hiding the U.S. behind walls, China will steal our position as world economic leader. We could have been the moral leader, but now being equated with weakness, morality has become passé.

As for Trump, he will gain vast wealth and power, which he will attempt to pass on to his children. 

America faces a leadership drought — a drought of truth and a drought of morality.

Look around you. Like a great tree, America is dying from the top down and taking us all down with it.

Are we being murdered, or is it suicide?

Rodger Malcolm Mitchell
Monetary Sovereignty

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The single most important problems in economics involve the excessive income/wealth/power Gaps between the have-mores and the have-less.

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 The Ten Steps To Prosperity can narrow the Gaps:

Ten Steps To Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich can afford better health care than can the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ANNUAL ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (Social Security for All) (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefitting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-transferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be a good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

MONETARY SOVEREIGNTY