Tag: monetary sovereignty

–Greece, if you do it right, you will be among the most prosperous . . .

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.
**The single most important problem in economics is the gap between rich and poor.
**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 between the rich and the rest..

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

Congratulations Greece, you have voted against eternal austerity and slavery to the troika.

Now, if you do it right, you will be among the most prosperous of European nations, while the rest of the euro zone either fades into depression or follows your lead.

Greeks defy Europe with overwhelming referendum ‘No’

ATHENS (Reuters) – Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe.

Financial “ruin” is what Greece has now, and what the troika proposes — endless, ongoing, unpayable debt, impoverishing the Greeks, their children and their grandchildren, forever.

But yes, it may deservedly splinter Europe, with the wise nations re-adopting their own sovereign currencies, and the rest dying the slow death of austerity.

It leaves Greece in uncharted waters: risking financial and political isolation within the euro zone and a banking collapse if creditors refuse further aid.

A Monetarily Sovereign nation need never have a “banking collapse,” so long as it doesn’t succumb to the “borrow-borrow-borrow” siren song of the troika loan sharks.

But for millions of Greeks the outcome was an angry message to creditors that Greece can longer accept repeated rounds of austerity that, in five years, had left one in four without a job. Prime Minister Alexis Tsipras has denounced the price paid for aid as “blackmail” and a national “humiliation”.

Better late than never to come to that realization.

Officials from the Greek government, which had argued that a ‘No’ vote would strengthen its hand to secure a better deal from international creditors after months of wrangling, immediately said they would try to restart talks with European partners.

Oh, no! Oh, no! You Greeks don’t need to “restart talks with European ‘partners.'” They are not partners of yours any more than a Mafia loan shark is a “partner” with his victims.

Issue your own sovereign currency. Become Monetarily Sovereign, again. Demand that your creditors accept your currency in payment, or they will receive nothing.

Pay for health care, education, food for the poor, housing for the poor, your needed goods and services — all with your own sovereign currency.

Tell your citizens to pay taxes in their own sovereign currency.

Go back to where you were before the ill-fated euro experiment in torture began.

But euro zone officials shot down any prospect of a quick resumption of talks. One official said there were no plans for an emergency meeting of euro zone finance ministers on Monday, adding the vote outcome meant the ministers “would not know what to discuss”.

Give those fools the Greek, open-handed “Nah.”

The result also delivers a hammer blow to the European Union’s grand single currency project. Intended to be permanent and unbreakable when it was created 15 years ago, the euro zone could now be on the point of losing its first member with the risk of further unraveling to come.

Yes, the money-lenders are wetting their pants from they won’t be able to keep the Greek people in debt-slavery.

Unable to borrow money on capital markets, Greece has one of the world’s highest levels of public debt. The International Monetary Fund warned last week that it would need massive debt relief and 50 billion euros in fresh funds.

For a Monetarily Sovereign nation, borrowing from foreigners is 100% unnecessary. But that is not what they want you to believe. They want you to think you need their loans.

But, exhausted and angry after five years of cuts, falling living standards and rising taxes imposed under successive bailout programs, many appear to have shrugged off the warnings of disaster, trusting that a deal can still be reached.

The only “deal” Greece needs is a return to Monetary Sovereignty. It will require strong, smart leadership. I can suggest a couple people who could help Greece with that.

Much good luck.

Stay strong and you’ll be strong.

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. 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
Monetary Sovereignty

Monetary Sovereignty

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

–The vote: Can Greece’s financial calamity be prevented?

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.
**The single most important problem in economics is the gap between rich and poor.
**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 between the rich and the rest..

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

As I write this, the Greek people prepare to go to the polls. They will vote “yes” or “no” — on what? They have no idea.

Nor do I.

Ostensibly, it could be a vote on whether to remain a euro nation. Or maybe not. No one is quite sure.

Most writers belief Greece should remain. For example:

Greece Should Vote Yes and Europe Should Be Ashamed
Bloomberg By Clive Crook

The vote doesn’t change the calculations that the respective sides will have to make about long-term consequences. It will still be in both sides’ interests to come to an agreement.

Some European officials are ready to see Greece default and exit the euro system. If Greeks vote no, that view may gain ground and the chance of Grexit certainly goes up.

If the voters say yes, there’s a better chance that the EU and the ECB will offer help to stave off both default and Grexit. At least in the short-term, yes is the better path to less economic pain.

By submitting to the EU, Greece might incline the creditors to be generous in victory. Europe might finally concede what Tsipras has long been demanding and what has always made sense from the creditors’ own point of view — to bundle debt relief and a milder profile of fiscal consolidation into a third bailout program.

“Less economic pain”? “Creditors generous in victory”? Puleeze!

Visualize that you are deeply in debt to a criminal syndicate. You already have given them every cent you have, but it’s not enough to pay your debt. So they come to you with a new deal.

They will lend you the money to pay your past debt, but only if you give them your house and car and all your future earnings. This will require that you and your family starve in a cardboard box on the street.

It also will insure that they can continue bleeding you forever. You never will emerge from debt.

That is the deal the troika has offered, and always will offer, to the Greeks.

But you have an alternative. You can tap into a source of money that will allow you to pay off all the debt. No longer will your family be bled dry. No longer will they be forced to live in a cardboard box on the street.

Which do you prefer? The syndicate “bleed forever” deal or the pay-off-all-debt deal?

The source of money for Greece is called Monetary Sovereignty. Greece can revert to the drachma, a currency they would have the unlimited ability to create.

They should announce that they will pay all debts in drachmas and collect all taxes in drachmas.

Some believe Greece’s return to Monetary Sovereignty will be a financial calamity for Greece and the world.

Nonsense.

The European Unit of Account (EUA), a basket of currencies, was introduced in 1975. The European Currency Unit (ECU), also a basket of currencies, replaced the EUA, 1 for 1, on March 1979.

Then, on January 1, 1999, the euro replaced the ECU, 1 for 1.

In the past 40 years alone, there has been a great deal of currency shuffling by the European nations, and none of these changeovers caused financial calamity.

Seventeen nations have surrendered their own sovereign currencies, to adopt the euro. No financial calamity in that changeover.

Some European nations did not adopt the euro, but still remain part of the European union. No financial calamity in that lack of changeover.

Greece itself, did not adopt the euro until the euro was two years old. No financial calamity in that changeover.

But now, we are expected to believe Greece’s “unadopting” of the euro would cause a financial calamity.

Here is what would be a calamity: Greece’s continuing to bleed its citizens forever, to pay the rapacious lenders of the troika.

Those lenders don’t want to lose their cash cow, so they spread the financial calamity nonsense.

What was done, can be undone, and the sooner the better for the Greek people.

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. 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
Monetary Sovereignty

Monetary Sovereignty

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

–The great Iran nuclear threat lie.

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.
?The single most important problem in economics is the gap between rich and poor.
?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 between the rich and the rest..

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

Do politicians ever stop lying? Does a flea-ridden dog ever stop scratching?

1. As we all know, Iran is a nuclear threat to (Pick one):
_____ America
_____ Israel
_____ The Middle East
_____ The eastern hemisphere
_____ All of the above

2. And, as we all know, Iran is ruled by (Pick one)
_____ Crazy, irrational religionists
_____ Smart, dangerous religionists
_____ Deceptive, duplitious religionists
_____ All of the above

3. As we all know, we can stop Iran from getting “the bomb” by (Pick one):
_____ Negotiating with them
_____ Bombing them
_____ Invading them
_____ All of the above

4. We all know these things to be true, because:
_____ Barack Obama told us
_____ John Kerry told us
_____ Bebe Netanyahu told us
_____ All of the above

If you substitute “Iraq” for “Iran” and “Bush” for “Obama,” you’ll see why this movie sounds familiar.

So where do we stand today? We have “the bomb.” So does Russia, China, India, Pakistan, the UK, France, Israel, North Korea and heaven knows who else.

Of all these, only the U.S. has actually dropped the bomb on someone.

But we are, and always will be, ruled by logical, thoughtful, peaceful governments — especially if a level-headed leader like Donald Trump, Ted Cruz, Ben Carson, Chris Christie, Mike Huckabee, Bobby Jindal, Rick Santorum, or yet another Bush becomes president.

We know we can trust them to keep us safe.

The rest of the nuclear nations also are ruled by logical, thoughtful, peaceful governments, especially North Korea. So it is vital to world peace that Iran, the only nation ruled by religious or political nuts, be prevented from having nuclear weapons.

That is why I am so relieved by this article:

Iran atomic bomb probe may be completed in 2015: IAEA

Vienna (AFP) – A long-delayed investigation into whether Iran has sought to develop nuclear weapons could be completed by the end of the year with Tehran’s help, the head of the UN atomic watchdog said Saturday.

Following his talks in Tehran earlier this week, UN watchdog chief Yukiya Amano said “progress was made on the way forward, but more work is needed.”

“With the cooperation from Iran I think we can issue a report by the end of the year on the … clarification of the issues related to possible military dimensions,” Amano told reporters before heading into talks with global powers in Vienna.

Oh, thank heavens. I wasn’t worried about Russia, China, India, Pakistan, the UK, France, Israel, North Korea bombing us or allowing terrorists to gain control over a bomb.

But I was in an absolute panic about Iran, which is why I genuflect daily in front of a John Kerry statue in my bathroom. Just knowing that Iran may not have the bomb for at least — what, five more years? — gives me hope for peace in the world.

And that is why I’m delighted that President Obama has invested so much of his attention to Iran and his anger at Israel, rather than on, for instance North Korea or China. After all, he knows where the danger to America really lies.

And speaking of lies, what about Iraq’s Weapons of Mass Destruction that cost thousands of American boys and girls their lives and limbs? Shouldn’t we attack them, too?

Oh, you mean, the previous Bush . . .

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. 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
Monetary Sovereignty

Monetary Sovereignty

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

–How much is your child’s life, health and brain worth?

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.
•The single most important problem in economics is the gap between rich and poor.
•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 between the rich and the rest..
=========================================================================================================================================================================================================================

How much is your child’s life, health and brain worth?

That is the question Justice Antonin Scalia and the other four right-wing justices want you and the government to answer.

High court blocks power plant regulations without cost estimates
Richard Wolf, USA TODAY, June 29, 2015

WASHINGTON – A narrowly divided Supreme Court on Monday blocked federal clean air regulations on coal- and oil-fired power plants that have been on the drawing board for a quarter century.

The 5-4 ruling stops the Environmental Protection Agency, at least for now, from imposing new rules designed to reduce the amount of mercury and other toxins that pollute the nation’s air, at an unknown net cost to companies and consumers.

The decision was written by Justice Antonin Scalia, with the other four conservative justices agreeing.

While the estimated annual cost of $9.6 billion is not widely disputed, the cost-benefit ratio is. Opponents said the benefits are as low as $4 million a year. Proponents said when all secondary pollutants are considered, they’re as high as $90 billion.

Only government agencies, especially the right-wing element of the Supreme Court could put a money value on the mercury and other toxins we breathe.

Here is what Scalia says about his favorite subject, money (what he terms, “free speech).

“One would not say that it is even rational, never mind ‘appropriate,’ to impose billions of dollars in economic costs in return for a few dollars in health or environmental benefits,” Scalia said from the bench. “No regulation is ‘appropriate’ if it does significantly more harm than good.”

How much mercury and other toxins, spewed into the air, is “good” compared with the “harm” of big corporations having to spend money?

Apparently, the Supreme Court wishes to listen to arguments about that.

The government said the regulations would prevent premature deaths and illnesses from asthma, cancer and heart disease, and protect pregnant women and unborn children whose fetal brain development can be harmed by overexposure to mercury.

Environmental groups said 4,200 to 11,000 lives could be saved each year.

Question for Justice Scalia et al: If the law would save “only” 4,200 deaths per year, is that sufficient? Or do you require saving 11,000 lives per year?

Or is even that number insufficient to satisfy the Republican Congress?

“The mere fact that the EPA wished to ignore the costs of its rules demonstrates how little the agency is concerned about the effects it has on the American people [and] the EPA continued to burden the public with more and more costs even as so many are still struggling to get by and improve their lives in this economy,” said House Majority Leader Kevin McCarthy, California Republican.

According to Rep. McCarthy, death, asthma, cancer, heart disease and injured fetal brain development are not a “burden” on the public. To McCarthy, the only burden is on corporate profits.

And what about those pregnant women and unborn children? Does the right wing care only about saving unborn children from abortion but not about saving them from mercury poisoning?

Is the difference that you wish to save rich corporations from money costs, but don’t wish to save poor women and children from life costs?

Vickie Patton, general counsel at the Environmental Defense Fund said, “With a few adjustments to its analyses, EPA can ensure that America’s children are protected from the toxic mercury pollution discharged by coal-fired power plants.”

But Richard Faulk, an appellate lawyer who represents companies against environmental damage claims, said forcing the EPA to consider costs represents a “clear victory for industry and the rule of law.

Well, we all can breathe easier now, knowing that industry has a clear victory, despite the toxic effects on the American people. Too bad our children can’t breathe easier.

The Supreme Court ruled last April that the government could compel 28 states to slash ozone and fine particle emissions from power plants because the pollution crosses state lines.

See, it’s like this. Ozone and fine particle emissions cross state lines. Mercury and other toxins stop at the state line and wait for permission from the Supreme Court.

Makes sense to me.

But if it doesn’t make sense to you, how about this one:

(In June) the court blocked the administration from requiring permits for greenhouse gas emissions from new or modified industrial facilities. But the justices said the EPA could regulate such emissions from industries already required to get permits for other air pollutants.

When judges make decisions based on what is best for the moneyed interests, while trying to pretend they’re’s not doing exactly that, the decisions eventually become more inconsistent and nonsensical.

How much is your child’s life, health and brain worth?

Perhaps you should ask the Koch brothers and the dozen or more Republican Presidential candidates.

Then they can tell the Supreme Court.

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. 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
Monetary Sovereignty

Monetary Sovereignty

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