- The Fed is perpetrating a legal-but-soon-to-be-very-painful swindle.
- “DEFLATION IS THE PRINCIPLE MEANS BY WHICH BANKERS INCREASE THEIR WEALTH”
- Six ways American economics, in government, university, think tank and media is all one big lie.
- MY SHORT BUT THOROUGH AND ACCURATE HISTORY OF THE WORST DEEDS OF THE LAST FOUR FEDERAL RESERVE CHAIRMEN AND FEDERAL RESERVE SYSTEM DURING EACH OF THEIR TENURES.
- Items: 1) Five Coming Gold Scams 2) The Devil’s Economic System 3) etc.
oldickeastman on Reading Joe McCarthy oldickeastman on Deflation is the problem, not…
The high pressure off the West Coast is responsible for California’s drought. The high pressure region is 2,000 miles long and four miles high. This obstacle of dense air that is continuously being renewed blocks and redirects parcels of moist air that normally would have brought rain to the US Pacific coast.
The high pressure domes to not break down because the land and sea under them are not sufficiently warming the air near the ground to cause its expansion and lifting.
Warm air expands and, as when air is heated inside a hot-air balloon, the less dense air rises, creating a low pressure area below, which sucks air into the region and lifts it. This is exactly what is not happening off the California coast. The sea surface temperature is not being warmed as it is under normal conditions. Staying cold, the surface does not warm the air and there is less expansion, that is, the air pressure continues high.
What is causing this artificially seeded cloud that blocks the suns rays, preventing their radient energy from warming the earths surface which is the cause of “convection” in the atmosphere, that circulates air and moisture through the atmosphere. (Convection is simply the heating of air by warm ground thereby causing expansion as the energy of the molecules in the atmosphere as they collide with each other to push each other further apart so that the average distance between them is greater — making that volume of air lighter in weight because it is less dense in molecules.
The seeded cloud — not seeding for rain, but seeding for cloud cover that blocks the warming rays of the sun affecting land and sea surface temperatures so that a less warm surface will not warm the air directly above it as it would have otherwise — thuse there is less expansion of air — the air is denser — more air molecules per volume than otherwise — thus higher air pressure than otherwise — thus giving those engaged in these weather redirection operations the ability to divert moving weather systems since air parcels move away from high pressure areas.
All winds result from differences from place to place in air pressure exactly because of the uneven absorption of solar radiation by land and sea surfaces. “Chemtrailed cloud screen cooling the surface lower than otherwise causes that region to have higher pressure than otherwise pressure relative to surrounding areas.
The difference in pressure causes movement of air parcels. Air parcels are moved whether they are warm air, cold air, wet air, dry air or a parcel of rotating air.
Hot air can be moved to or kept in places where they will grow hotter and dryer — and then can be moved to another location causing a hot dry conditions there. The force for doing this moving comes from difference in pressure between neighboring regions over which the parcels of air move– called pressure gradient force.
If you feel wind to your back in the Northern Hemisphere that always means that the air to your right has higher pressure than the air to your left.
Air tumbles out of a high pressure area in a clockwise direction (as seen looking down on the map) so the high pressure to your right is his hitting your back at “nine-oclock” as the wind comes around to you from “6 o’clock” — and the low pressure on your left is taking the air up like a cyclone and air coming into it to be lifted comes to you who are standing at it’s 3 o’clock position with the air sucking into the low counterclockwise from the low’s “6 o’clock position. This rule of high pressure on your right, low pressure on your left and wind necessarily blowing on your back has a name. It is called Buy Ballot’s Law. — Chemtrail creates high pressure clocks — and thereby can move air
TO ALL GREEKS — Time for Bold Action — the EUB and EU are out to kill you with money sanctions in order to regain total debt-slave submission — here is how you will beat them
Message July 6, 2015 Yakima, Washington
TO ALL GREEKS — Time for Bold Action — the EUB and EU are out to kill YOU with money sanctions in order to regain slavish debtor submission — here is how you will beat them
The Greek people voted against austerity and the debt structure the European Central Bank, the International Monetary Fund, Greece’s International Creditors and the European Union governments were imposing. In retaliation these interests have inflicted upon Greece a policy of near total deflation, allowing only bare subsistence incomes at present prices and availability of goods foreign and domestic, prices which of course will not remain obtainable as producers no longer have the revenue to pay employees or to order new factor inputs. Make no mistake, Global Finance has declared total war against the people of Greece and the weapon they are using is as terrible and sure a mass killer and destroyer as any you can name outside of all out bombing of cities and villages. The Greeks must face this fact, maintain their resolve not to give in and, most important, respond with force that simultaneously will be a sufficiently aversive counter response that will make the EU aristocracy sorry that it chose to resort the economic terrorism of money sanctions yet also completely just and measured in the eyes of the world as an appropriate response to what the EUB and EU governments in the service of global creditors have done.
Here is what Greeks must do — with the Tisparis government or a better one:
1. To alleviate the immediate cash shortage in the household and business sectors, declare, in this national emergency, that all mortage payments, business loan payments to lending banks or international lenders be suspended for the duration of the crisis. And as part of that move the payments that are suspended will be either delayed with no additional interest or they will be payments that are forgiven and forgotten in they eyes of the Greek government depending on the duration of the money sanctions against Greeks.
2. The government will, for the duration of this emergency (and perhaps permanently), stop taxing the people in Euros but will begin taxing the people with a money-like device called a “tax-payment coupon” or more precisely “a negotiable tax-paying coupon”. These coupons will resemble money and will have the value of one Euro in the payment of taxes according to the already existing tax rate that is already denominated in Euros. The government will allow these coupons — which will be called “Apollos” after the well known figure of ancient Greek beliefs. The government will provide to every citizen on their tax rolls an amount of the Apollo which people can spend into circulation exactly as they would a dividend of Euros that they had received. The government during the emergency will allow the Apollo the status of “legal tender” — which Greeks may spend at stores or in their transactions with each other — and to their employees and churches and charities. This substitute money, this negotiable (spendable, transferable) Apollo Coupon, will circulate freely and, because all Greeks will accept it because it allows them to buy things and to pay taxes, even dealers in foreign goods will accept them, because they can be used to buy Greek goods for which foreigners still have demand.
3. Greeks must propose to Iran and Russia that these countries send their own currencies to Greece for free circulation as the international money of Greece. Iceland may also wish to join in such arrangements with Greece.
Through these devices, especially through introduction of the Apollo Coupon, the Greek economy will be able to continue its market system.
Let it be understood by all that the EUB and the EU governments are attempting to inflict mass privation, even death on large numbers of the Greek population through deflation. By doing this they have forfeited all right to consideration of prior contract. They have imposed a system on Greece –their money bought the media and the salesmen who sold the EU system and their money bought the legislators and bankers who set it up and made the decisions. Now that the system has hurt the Greeks they are now awake and paying attention and are ready to take back control of their own country and its systems of money and lending. It is a matter of survival now that they do so.
No one in the present Greek govenment is thinking like this — but the Greek people are thinking like this. They understand what is at stake. They now feel the pinch of hunger and fear from an economy intentionally ground to a halt by international finance because international finance has been frustrated in its plan for the continued plundering of Greece and the debt slavery of almost all Greeks.
And these measures, the suspension of all debt payments to banks, the providing of the Apollo coupon that is declared legal tender throughout the emergency, that can be used to pay taxes and that is completely negotiable so that hiring and food buying and rent paying can continue.
The odds are that the the EUB and the other EU governments will not consent to revision of their system to the satisfaction of Greek debtors. That will only mean that the swindlers are not willing to undo their swindle and launch more honest understandings. In that case, Greece will be free to repudiate all debts to international lenders — on the grounds that the contracts were entered into were fraudulent, that the impoverishment of Greece, the transfer of Greek wealth to international bankers and investors was the heart of the EU plan. That is legal justification for repudiation of all such debt.
When any one loans money it must always be at the lenders risk. The lender was an equal member of the contract and it was his duty as well as the borrowers to make sure that the venture being undertaken was a viable one — that there was a reasonable chance that the borrower could use the money to create goods profitable so that repayment could be made. But of course the fraud of the system was that the only money allowed was the EU and all EUs were borrowed into existence so that every euro of loan was co-created with a debt of principal equal to one euro and interest payments over time that often total more than a euro
American Populist Social Credit and the pure theory of money, velocity, production, price levels, interest slavery and escape through permanent debt-free money going directly to the people
Fellow Friend of Humanity,
For those interested in this notion of American Populist Social Credit — whether it really holds together as an economic analysis of the harm being done by the present Bank-of-England/Rothschild system and of what elements of a new system are needed tol set us free and put everything right — here is my best shot at a rigorous exposition and defense. — I identify the features of the present money and credit system that are hurting the many while benefiting a rather conniving and grasping few; and the better system that really can cut those baddies out of the action and set up that keeps us in a high opportunity boom, always providing ample purchasing power to good people wanting to earn their way providing the best they have to people who pay well for it. I explode the lies that inflation causes depression, that austerity ends depressions. I am not in the business of looking at the system so I can make money by selling you my predictions of doom. I have looked for the answer to the reasons why society is in decline — and I found the bankers and the banking and monetary system at the very root of all the problems. And I have cobbled together from the ideas of many good people living and dead an alternative system that could be set up very quickly and easily — replacing the bad components with the good without shutting down the economy for the transition. The answer is in the social credit dividend that simply gives fresh new money to every citizen debt free so that no businesses have to fail, no austerity is needed, no attacting of foreign lenders/buyers is required. It will work here. It will work in Greece. It will work in any country that tries it. The transition will be easy — it is teaching people that an alternative is possible and workable that is necessary. It is my hope that those who will take the trouble to study what I offer everyone here will come to the essential meeting of minds.
April 11, 2015 Happy birthday, Dad, wherever you are.
American Populist Social Credit and the pure theory of money, velocity, production, price levels, market allocation and living standards improvement.
by Dick Eastman
Sectors of the economy
Consumer Goods Businesses
Producer Goods Businesses
Public Goods (Government)
Banks (Financal institutions dealing prodiving money at one time for payment at another, not in goods)
Producers’ Goods Markets
Loanable Funds Market
Saver’s loans to banks market.
Idle cash (hoardings) market
Real Asset Market
Cases (or models)
I. Current System (Bank of England/Rothschild model)
1. all money borrowed
2. private fractional reserve money creation
3. money circulation through bank loans and central bank open market bond purchases
4. paper money is not permanent and has short-life in circulation as retailers “deposit it” when spent
5. lending and loan contraction and payment of interest affect money supply M’ of Fisher Equation M•V + M’•V’ = P•Σq
II. American Populist Social Credit (F. Feder, F. Soddy, I. Fisher, C.H.,Dougla, J.A.Hobson, H. George, A. Hawtrey, R. Clarke)
1. all money permanent ex nihilo legal tender existing in deposit for only
2. all new money enters economy through household sector
3. banks lend only money banks have borrowed from savers
4. elimination of central bank and open market operations
5. banks may issue paper money that is negotiable, but the bank must maintain 100% of the issue amount in (legal tender) deposit account held as reserve by the bank.
6. Savings institutions will be separate from banking institutions. Savings institutions will hold deposits and provide paper money, checking, debit card services for a fee.
7. Banks that lend will have no reserve requirement. They can lend what citizens entrust to them to lend. The bank pays an interest rate to people who are simply lending to the bank in the expectation that the bank will lend big amounts to entrepreurs at a higher rate upon which the entrepreneur will spend the money on means of production, will produce and sell goods, returning principal and interest to the bank who will pay interest to those households that lent money to the bank. The bank will earn money on the spread between interest paid to households for funds and interest payed by entrepreneurs to banks for funds.
8. Banking will be competitive and entirely state chartered. The Federal Goverment will supply legal tender and regulate the value thereof through the social credit dividend.
9. Government will never borrow. All public goods will be paid for by direct taxation per item. Congress will specify the price of a public good and the tax to pay for it individually for each good. No omnibus bill of government spending and a separate bill by “ways and means” that pays for the ominibus. What public goods the federal government cannot provide in this pay-with-taxes-as-you-go method will not be undertaken by the federal government at all.
10, International investing, by Americans or in America, will not be permitted. Foregin trade will be balanced, in the sense that year by year imports will be paid for by exports. Note: Trade becomes unbalanced because foreigners have been given the choice of using the dollars they earn (mediated by the currency markets) to buy financial assets (US bonds) rather than American products or buy real assets in the US. When this is stopped, balancing the budget will be much easier to provide. Trade of goods, of producers’ goods or raw materials, of tourism will be free trade. International finance and investing will be prohibited.
Method (or tools) of analysis
Irving Fisher’s equation of exchange: M•V + M’•V’ = P•Σq
paper dollar exchanging hands (spending) per hour + deposit transfer spending per hour = the sum of all purchases as itemized on all cash receipts.
M = paper money in public’s hands
V = average rate at which a dollar changes hands per hour or velocity of paper dollar circulation
M’ = total bank deposits of households, businesses, government spending agencies
V’ = average rate at which a dollar of deposit changes hands per hour velocity of deposit transfer (circulation)
P = Price level (estimated by nominal price of a basket of different items) – in pure theory it is the average price of the individual prices at which all items (Σq, read as “the sum of all goods sold”)
Σq = All apples, oranges and everything else sold per hour as would be itemized on sales recepits.
Interpretation: The equation says is that money available for circulation increases (either paper or bank checking deposit) in quantity and or as the rate of paper money spending or deposit transfer increases there is a corresponding increase in either price level or quantity of goods. But also, as any of these numbers, M,M’,V,V’,P,Σq changes up or down — there must be adjustment of at least one of the other numbers up or down to keep the equaition in balance. THE EQUATION IS ALWAYS IN BALANCE JUST AS CERTAINLY AS THE AMOUNT STATED ON A CASH RECEIPT (WHICH IS A TITLE FOR THE GOODS) GOING TO THE BUYER IS EQUAL TO THE AMOUNT OF MONEY PAID BY CASH OR DEPOSIT TRANSFER GOING TO THE SELLER. No one messes with the equation of exchange. It always holds true.
Richard Cantillion’s circulation of goods flowing one way and money flowing the other in an economy
The circular flow model is just as certain at tool as Fisher’s equation of exchange. Everything is accounted for. In fact it is just a transfer of the same facts from Fisher’s an algebraic equation to a “plumbing diagram” (flow model) in which all goods and every dollar are accounted as the flow from sector to sector “per hour”.
Which sectors to we use to measure flows to and from? Cantillion picked “property owners, farmers, entrepreneurs, laborers and artisans. François Quesnay in his Tableau économique was the first to specify wages, rent and sales revenues provided the flow of income that kept the economy moving. His sectors among which money and goods flowed were the proprietary class (landlords), the productive class (agricultural sector) and the sterile class made up of artisans and merchants. Banks were not so big in Quensnay’s day and so the protrietary class and its spending of rent collected was the prime mover, the “sterile” sectors not being able to initiate purchases without revenue from the proprietary class.
In circular flow analysis any grouping might do, as long as every dollar spent arrives in one of the sectors in the transaction.
For analysis of money flows in both the Bank-of-England/Rothschild economy and the American Populist Social Credit economy I find the following flow diagram most helpful.
Money allows us to break up barter interaction so that people who give up labor or a product or a possession does not have to be limited in what he gets back in return for what he gives. With barter, when you work for an employer who makes paper cups, you have to take as a return for you effort so many cases of paper cups. With money you can be given piece of paper with a number expressed in a common unit of exchange (dollar, yen, peso) and go to some other producer or, better still, a retailer to get the things you want most for the work you have done.
The money helps us have a division of labor so we can all work in little specialized ways toward for some utility for others and receive in return generalized purchasing power– the tally system that puts a money number on your two weeks of work and money numbers on things the worker can buy when he gets his paycheck — the numbers (prices) coming out of the relationship among all kinds of people who produce and consumer under conditions of scarce resources and different abilities and tastes of people. The system is beautiful — until someone gets a monopoly of the token system and starts charging for use of the simple tally system of money that allows the market system of function.
The Bank-of-England/Rothschid system is such a system to private monopoly of token supply. Think of people playing a card game for money — poker or blackjack or something — then imagine that you had to give a share of winnings to the company that made the cards — that to play cards you had to rent the cards and were chaged more for buying the Queen, King and Ace than for the other cards. You would think, “How the hell did that racket get started.” Unfortunately an even more outrageous racked is being foisted on 6 billion people around the world and it is costing them plenty, but they are so used to it, having been born under the system, that they do not even notice it.
Here is a picture of the Bank-of-England/Rothschid system again
In this diagram not all arrows of money flow are being shown. We do not show the households paying for what they buy from the goods producer or the taxes collected by the government. Or wages, profits and salaries paid to households. I leave these out, because they are not part of the problem. The problem is money taken out of production-consumption loop and not put back. The problem is also having all money borrowed, rather than having a supply of permanent money. The diagram shows these two problems.
Money enters circulation from two different sources. Either someone goes to a commercial bank and borrows money while undertaking an obligation to make a series of payments to the bank of principal plus interest; or someone writes up an IOU on fancy paper, an IOU that promises to pay whoever owns the IOU at a certain date (the maturity date) a specified amount of money called the face value of the bond, the new IOU selling for less than the face value that will be paid at maturity. Households borrow money to buy a house or take out a second mortgage to meet obligations when income is lower than expected and bills can’t be paid — which puts most of the money we have in the local economy into circulation. Small businesses also go to commercial banks for loans. Big corporations and government borrow using bonds.
So its commercial bank loans or bond floats that provide the money we spend and both involve getting so much money now — the bond sale price or the bank loan amount — and undertaking payment of interest and principal to the commercial bank — and coupon rate payments to the holder of the bond as well as payment of the face value on the specificed maturity date. (Some bonds pay both coupon rate and face value at maturity, and some just pay at face value with no coupon payments, while others, called counsols, never mature but just go on paying interest forever — the prefered bond for English ruling class families because the sun never sets on a consol bond — or the servitude of the tax payers, of debtor class posterity, who will be paying and paying and paying.
The diagram above shows the two system — bank-loan financing and bond financing. Now abstract out just one instance of a firm getting a bank loan. A businessman wants to buy a new machine for his factory which produces and sells some good. He goes to a bank and borrows the price of the machine. To get the money he agrees to make regular payments until all of the principal plus an additional amount is paid off. The additional amount is called compound interest. The total amount of payback depends on the interest rate and the amount of months or years the loan runs. Some bank loans are for six months and some are for 30 years. Some are for 3% per year or 25% per year. BUT THEY ALL HAVE THIS IN COMMON. WHEN THE LOAN IS FIRST MADE AND THE BORROWER SPENDS THE LOAN MONEY THERE IS AN INCREASE IN THE AMOUNT OF MONEY IN CIRCULATION. The business buys the machine and the machine making company pays its employees and other expenses and may even hire a new employee because business is good. BUT AS PAYMENT BACK TO THE BANK OF INTEREST AND PRINCIPAL IS BEGUN — THE MONEY ADDED TO CIRCULATION DRAINS AWAY. At some point an amount equal to the amount of the original loan has been returned to the bank. The added money supply has been eaten away. But the payments continue, because principal plus interest total more than the amount of the loan. THE INFLATION OF MONEY IN CIRCULATION NOW ,DWINDLES, VANISHES AND NOW DEFLATION BEGINS. As further interest is paid on this loan — the total money supply in circulation is now shrinking.
Now don’t be confused by how the company that bought the machine may indeed profit from the new machine it now owns. It may be making profit even with the payments it makes for the machine — because the machine added so much to their productivity. But whether the company that made the machine is making profit or loss, doesn’t change the fact that money was added to circulation in the entire loop of the economy and, as interest and principal were paid has drained away. The company that bought the machine and is paying the interest may be profiting, but someone somewhere has to be better off — some other company is not doing so well — or even the company that is making profits from the machine is not making as much profit from strong sales as it could — because people just don’t seem to have money to spend on the product like they used to. The point here is that the loan at first adds to purchasing power, but then the drain of interest begins eroding purchasing power.
Now lets get more rigorous, resorting to Fisher’s equation of exchange.
What has happened with our bank loan and the debt servicing payments that follow.
M•V + M’•V’ = P•Σq
The loan created a new deposit in the borrowers checking account. M’ increases. There is now more money in the sum total of all checking account deposits. The borrower said good-bye to his deposit when he transferred it to the machine builder. If the machine builder pays out money to his workers — who then take it the the store of their choice and spend it. Selling product may cause sellers to raise prices or it may cause them to increase orders. Raising prices would lift P in the Fisher equation and increasing orders to restock the shelves would increase Q. Prices will rise and/or increased movement of product Q will call forth more production orders. It is possible that a rise in Σq from new money in the system will be so great that prices will not also rise, they could conceivable fall — when people are back to work again and factories are working at peak efficiency for their size and fixed cost per unit sold is less — prices may actually fall in the initial inflation caused by this loan (and many other loans like it).
But then interest drain on M’ sets in – as interest and principal are paid to the bank — M’ begins falling. The inflation is over with the loan, but now this deflation that results from a succession of drops inj deposits (M’) as principal is retired and interest is taken by the banks and kept out of circulation — or perhaps (not much lately) loaned out again at interest. (Deflation provides an incentive for interest earners to hold on to the money rather than spending or lending or investing.)
As interest drains away with each successive payment to the bank P•Σq is affected again. Σq must fall because fewer items are being sold. What about price level P? Will prices go down because M’ is now doing down? Not necessarily. If less M’ just affected consumers (the demand side) then prices would go down in deflation. But the experience has been much the other way. In a condition known as “stagflation” there is monetary deflation (lower M’) with its depressing effect on Σq but something happens to suppliers that force them to raise prices. What happens to them is that they are selling fewer units but their fixed costs are the same. They still are rending or paying property tax on the same building. They may have to pay higher per unit prices from their suppliers because they are buying in smaller quantities. In other words, smaller sales still have to pay fixed costs that have not changed (that’s why the call them fixed costs) — and so the price of that good must be increased “to pay rent”, “to pay the bank” — they will produce less and charge more. (Remember the demand curve is downward sloping — you can raise price but there are still some with urgent need for the good who will pay the price regardless of the increased sacrifice — or they are just rich anyway and a higher price does not matter to them — as it does to the people who had to quit buying because of deflation induced loss of purchasing power.
Summary: Commercial bank loans incrase M’ which will increase P•Σq (some combination of change in Σq and change in P to match the rise in M’) — but interest payments that follow will eat away that gain in M’ and soon be reducing M’ to a level lower than before the loan was issued. This deflation is felt economy-wide. It does not show up in micro-economics — the effect is felt in macroeconomics — where price levels and national output and all of the measures we can think of for depressions are in play.
What happens with one loan to one company buying a machine and then paying back interest and principal to the bank — happens with all loans. Every loan adds to M’ and then the series of payments for the hired money takes that added M’ away and then takes away even more than that. Every commercial loan eventuall adds to monetary deflation — and pushes, however slightly, the entire economy towards deflationary depression and debt payment crisis.
We could go through the same story for bond financing that we did for bank financing. The effect is the same. The corporation may buy equipment and advertizing with the loan that make it very profitable — but the monetary effect on the economy will be the same as above — initial increase in M’ followed by drain of interest — paying coupon and paying face value at maturity. But bond debt, for governments and big corporations may be rolled over more frequently than it is retired. New loans replacing old — with interest rates either higher or lower, with bond prices lower or higher. The national debt the government and taxpayers owes is bond debt. The interest burden is crushing. Bonds are being rolled over again and again — but in some cases — a troubled American auto-maker or a troubled in-debt governemnt — troubled by bankers who want to own the auto company or who want to own their own Greek Island — they are sometimes forced into default by the deflation — the “international lenders” simple agree to pull the rug out from under the debtor, bankrupt him and grab his assets.
The problem of economies then is purchasing power that drains away because all of our money supply is borrowed. What we need is a different kind of economy where all money is permanent and plentiful and only people’s savings are lent.
There are some — called Austrian School economists — who say that inflation causes bad times. That is not true and I have shown why it is not true. Yes, a lot of loans coming all at once can trigger a boom — a rise in P•Σq — higher prices? –, maybe, — more “economic pie?” — yes. But boom does not cause failure. Mor money where money was too scarce causes boom. But the end of the boom is caused by the drain of M’ — either as the number of loans is decreased, or as loans are called in, or as payment of high interest rates — which got high during the inflation spell faster interest drain to undo the boom. Inflation does not cause bad times. Deflation causes bad times. And only reflation can fix an economy — but if it is deficit-financed reflation, the economy is only being set up for more interest drain and more deflationary depression down the line.
All I need to mention is that the lending class gains when there is deflation. When else would the Greeks sell their Islands to international speculators? They buy the bankrupt assets and there are no middle class people left in the economy to bid against them. That is the kind of deflation they like.
There is also the point that when the rich have all the money owned or owed to them — they tend to buy less of what the masses are best at producing. The rich have only so many kids to get braces and ballet lessons, the deflation drained population cuts out braces and dance lessons first thing. The concentration of money in few hands — kills consumer demand and business — even if the absolute amount of money stays the same. This is the problem of the two loop economy. The rich are never short of money and they thrive when the rest of us are languishing in deflationary depression. Everything is cheaper for them. Skilled people beg them for any job. Pretty girls stoop to prostitution, while the rich have pedophilia parties with royalty and investment bankers.
The Bank-of-England/Rothschild system fails us because it requires to pay interest for the priviledge of having a money supply to transact business in our own markets. We pay interest for money that should be free and abundant enough to get us all buying and producing for each other’s benefit. A great American, Richard Clarke, as far as I know, said it first. Money should be a public utility. Money is not a good. Money is not something a government must pay for. Countries with intelligent people wanting to produce and earn and with plenty of resources and know how — should not have to live in endless deflationary depression because “international lenders” don’t think the economy has enough austerity and deals and degradation to make it inviting for foreign funds — not enough foreclosed businesses for sale, not enough public lands and public utilities on the market for international money to come and buy it all up. The heck with that noise. The Bank-of-England/Rothschild system is a system of debt slavery. It’s remedy for a country is more austerity plundering of that country.
So what is the solution?
Welcome to American Populist Social Credit
30 tasks to fix this country the populist way
1. repudiate fraudulent debt to bankers
2. institute permanent national money created by fiat (from “thin air”)
3. originate all new money exclusively in each citizen’s primary bank account – through a regular, free and clear, household-sector dividend
4. separate banking from money creation, thus ending the fractional reserve banking system; require that money creation and distribution to households be a federal function, and that chartering and regulating banks be a responsibility of the States; eliminate all national banks
5. require that banks (State-regulated savings and loan associations) lend only funds entrusted to them by money owners for that purpose
6. eliminate the federal income tax, which penalizes productivity and initiative; replace it with direct taxes equally applied, individually imposed, for each item of public service approved by Congress; also, impose a direct excess wealth tax, including inheritance tax
7. require that the risk of all bank-financed transactions be shared between borrower and lender, so that banks can only recoup half of the principal in the event of business loss resulting in default
8. end foreign investment here and American investment abroad
9. sever the domestic monetary unit from the international dollar; allow the Federal Reserve to leave the country and take the international dollar with it
10. regulate foreign trade to ensure that imports in the course of a year are paid for by exports: enforce balanced trade
11. abolish the corporation as a structure of American business enterprise, breaking up all corporations into single proprietorships or partnerships
12. eliminate the Internal Revenue Service; the US Treasury takes over tax collection, enforced by US marshals
13. end all deficit finance by government; require that all government goods and services be funded by direct taxation and fees
14. eliminate all trust foundations, with all nonprofits and good causes being funded for current expenses only
15. expand and conscientiously enforce antitrust and anti-monopoly laws and regulations, extending these especially to mass media – with the understanding that monopoly in media is an infringement of everyone’s right to free political speech where the minority view always has the possibility, through persuasion, of becoming the majority, which is not the case when a few people own all mass media
16. limit the ownership of rental properties, the number of homes, and the total acreage, that businesses and individuals may own
17. require, by amendment to the Constitution, that only uncommitted electors be chosen to the Electoral College that both finds and elects the best qualified president (as the Founding Fathers intended); reputation, character, knowledge of public issues, and wisdom are the criteria upon which electors will be compared and chosen
18. end the popular election of Senators; once again have the State legislatures choose US Senators for their respective States
19. legalize addictive drugs and provide them at cost to addicts, so that organized crime will not capture the billions of dollars supplied to households through the new money dividend, and so that monopolists’ high-price incentive to push drugs will be completely eliminated
20. while debt to international lenders will be repudiated, money owed to creditor states, such as China and Japan, may be settled by: 1) letting China have all presently American-owned shares of industrial assets in China – sometimes up to 49 percent of Chinese industrial firms; 2) giving Alaska to Japan for settlement – this exchange could also be part of an international settlement that would resolve disputes over the ownership of islands among Japan, China and Russia
21. while Americans implement and perfect American Populist Social Credit, the people of Canada may elect to sever all political ties with the United Kingdom; Canada’s people may vote for their provinces to become new states of the United States, with the possible exception of Quebec which may become a French-speaking independent state; or Canadians may choose their own model of Populist Social Credit, and our two countries will naturally enjoy more harmonious ties, free from Anglo-European banking dynasties’ interference in our affairs
22. call back all American military forces from foreign lands; bring home all military equipment useful for defending the United States
23. end the American standing army; turn over all military equipment and personnel to the 50 States, with the Federal Government only controlling a centralized command structure to be activated only in time of declared war, which alone allows the Federal Government to nationalize National Guard units
24. disarm the Federal Bureau of Investigation; eliminate both the Central Intelligence Agency and the National Security Agency; eliminate the Department of Homeland Security and the Department of Education
25. end all Federal Government aid to all nations; permit Americans, of their own free will, to give charity and aid to those in need
26. deny jurisdiction to admiralty law; withdraw from NATO, the IMF, the World Bank, the World Trade Organization, Basel Accords, and from the United Nations until the National Security Council is abolished; terminate all treaties with the state of Israel, in keeping with an American policy of non-entanglement in disputes among nations; the U.S. can, however, subscribe to the jurisdiction of an international court for the resolution of international trade disputes
27. end all federal gun control laws, leaving this matter to the States in conformity with the U.S. Bill of Rights
28. disallow all members of the bar from practicing law in United States courts; U.S. courts will create their own tests and qualifications for pleading before the bench of American national courts
29. by Constitutional amendment, enact 12-man jury nullification in American courts, on the principle that juries decide when the letter of the law oversteps the spirit of the law, and whether precedent shall or shall not be upheld
30. keep the ability to practice law open to anyone who passes the federal law exam, possibly with lawyer specialties enabling a person to qualify for pleading specific narrow ranges of law; a very high percentage of the common people should be qualified to practice law.
Where C. H. Douglas missed the boat. by social crediter Dick Eastman What is the real source of the debt crisis and the fall of the middle class standard of living?
Saturday, April 04, 2015 2:41 PM
“That we are living under a system of accountancy which renders the delivery of the nation’s goods and services to itself a technical impossibility.”
1) Dzhokhar Innocent from the Evidence – but no defense of innocence on that basis is being offered 2) John Remington Graham: “LEGAL OPINION ON THE PROSECUTION AGAINST DZHOKHAR TSARNAEV”
Judge O’Toole was appointed by Bill Clinton and he personally picked the pool from which prosecution and defense exercised voir dire. The public defenders may has well been picked by the prosecution – because they not challenging even the most obviously false assertions. How could Dzhokhar Tsarnaev plant a black backpack containing a weapon of mass destruction, as the indictment states, if he only had a white backpack with him as the prosecution’s evidence photos show?
Innocent The best evidence and defense arguments are not being presented by the defense. They are allowing the Prosecution to make what everyone knows is a false charges contradicting crucial facts the evidence clearly establishes. https://vimeo.com/123274659