Pole shift

Before I get going, have you ever tried to spare someone from going through an experience similar to what you did, but they ignored you, and now they must go through the same thing themselves?  It’s very sad.

There’s a Mexican who I see almost every day. He’s here illegally, and he speaks no English, but he has a pickup truck that he uses to get to work. I have told him at least twenty times (literally) that when he is on the road he must be extremely careful. It’s war out there. The police are predators. He is the prey. Cities are desperate for revenue, and the cops will do anything to collect it. If a speed limit sign says “40,” he must do 40 or less. If he has a broken taillight, he must fix it immediately. He must not do anything to attract attention. He must give no policeman any reason to ever stop him. If he has any alcohol in his system, he must stay off the road.  We are always drunker than we think we are. No exceptions.

He always nodded when I spoke to him about this. He said he understood. One time when he was drunk, he said, “I have good relations with the police here.”

I looked at the ground and thought, “He’s not listening.”

A week ago his truck disappeared. He told me that the police impounded it after they cited him for speeding. This morning he asked me a question about his court papers. I asked to see the papers, and I saw that he was actually cited for extreme DWI, and for having no driver’s license.

Here’s the thing. When it comes to drunk driving, my state is arguably the strictest state in the USA. If you are cited for extreme DWI, you are charged with three separate crimes.

[1] Driving drunk (blood alcohol .08 % or higher)

[2] Driving with blood alcohol of 0.15% or higher

[3] Driving with blood alcohol of 0.2% or higher (“extreme DUI”)

Plus, he was charged with having alcohol in his vehicle, plus having no driver’s license. Five separate charges in all. On 20 Dec 2017 he must go to court for his arraignment, where he will be formally charged. One of two things will happen…

[1] The judge will automatically enter a plea of not guilty, and will set a date for a conference between this guy (or his attorney) and a prosecutor. At the prosecutor conference they will arrive at some deal involving fines, or jail time, or both.

[2] He will be arrested in court, handed over to ICE, and deported within a week.

This is not “educated guesswork.” These are the facts. I have seen it many times.

I explained all this to him before he was caught. Many times. Moreover he is the sixth Latino I have seen this happen to after my repeated counsel. Some were caught drunk driving. Some got into fights, or were involved in domestic disturbances. Some got caught with drugs. None of them listened to me.

Sadly, we humans rarely learn from other people’s counsel. In many cases (perhaps most) we only learn from our own experiences. If we have not experienced something, then it is not true for us. Not real.

+++++++++++++++++++++++++++++++++++++++++++++

Let me turn to a less depressing topic: the end of the world — i.e. the (fake) “national debt crisis” and Social Security.

Social Security’s worst enemies are those who try to use false premises to defend it. Or as I often say, if you don’t understand federal finances, then anything you say about it, good, bad, or neutral, will help to widen the gap between the rich and the rest.

In fact, the people who most reject the truth are not deficit hawks, but “progressives” who have false notions. One example is the victims of Ellen Brown Syndrome (EBS) who think that all money is created by banks as loans.  At some point this falsehood was planted as a seed in their minds, and it grew into a crippling illness.

Vast amounts of money are indeed created by banks as loans, but EBS victims say that all money is created as loans. For them, government spending is government borrowing. Hence they uphold the “national debt crisis” hoax.

Other people say that yes, we have a “national debt crisis,” but it is caused by endless war, not by Medicare and Social Security.

This tactic will always fail, because war is sacred to most Americans, and with it, military spending. Military contractors will never give up their endless trillions of dollars. If necessary they will nuke a U.S. city and blame it on Somalia or Venezuela. (Not Russia, since global nuclear annihilation is not profitable.)

These people say it is a lie that Social Security is bankrupt. Instead, Social Security will last until 2032 (or until some other randomly chosen year).

Like everyone else, they echo the falsehood that the U.S. government runs on loans and on tax revenue. And because they start with a false premise, they can write endless bullshit that no one reads, and no politician heeds. Example…

These false beliefs are not simply errors or misunderstandings. They are part of the “fabric” of global human society at this point in history. This “fabric” cannot be altered with logic, or proof, or reasoning, or military force. It cannot be swept aside via a revolution. If the errors are ever reversed, it will be a result of a spontaneous “pole shift” in the human psyche. No one knows for sure if this will happen, or when it will happen, or what will cause it to happen (if it does happen).

The sun flips it magnetic poles every 11 years on average. No one knows exactly why. The earth has flipped its magnetic poles every 250,000 years on average, but the last time was 780,000 years ago. The current delay is unusual. There is evidence to suggest the earth may be in the early stages of a pole reversal right now. Again, no one knows why.

The earth’s magnetic poles are analogous to the change in the human psyche (if it ever happens). At first it will be quiet and unnoticed. One day people will start to suspect that something has changed.  They will not be as selfish and warlike as they were before. No one will know exactly why. It just “happened” with no known cause.

If we ever do change, this is how I see it happening.

TRIVIA

The South Atlantic Anomaly (SAA, seen below in red) is where the earth’s magnetic field is weakest. It has no effect on the earth’s gravitational field, but spacecraft must nonetheless take the SAA into account if they pass through it, as it can affect radiation levels in “space weather.”

QUESTION: The cause of the SAA in unknown, but what if the same mechanism (whatever it is) causes the mysterious “great red spot” on the planet Jupiter? The planet is a big ball of gas, and has an extremely powerful magnetic field. I’ve never seen anyone pose this question.

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It’s getting ugly

This is getting ugly. Republican lies are out of control, but the Democrats only want to talk about the Russia-gate farce.

Everyone agrees that the purpose of the Republican tax cuts is to increase the federal deficit so Republicans can use it as a pretext to cut Medicare and Social Security. Marco Rubio has admitted that this is the plan. Paul Ryan is even blunter. Ryan claims that the cause of the (fake) “national debt crisis” is Medicare and Social Security. In order to address the (fake) “national debt crisis,” we must [1] cut taxes for the rich, which will “spur growth” and [2] cut Medicare and Social Security.

Note the contradiction. The masses are saying (correctly) that lower taxes will cause higher deficits. The masses are also saying (incorrectly) that higher deficits will cause a higher “national debt.” Paul Ryan says yes, tax cuts will increase the “national debt,” but we need tax cuts for the rich in order to “reduce the national debt.”

The masses submit to this absurdity because they insist on deluding themselves about federal finances. Since the masses think the U.S. government runs on loans and on tax revenue, the masses agree that federal spending must be cut. And since military spending in untouchable (the greatest “entitlement” of all) we must cut Medicare and Social Security.

I’m seeing a growing campaign in the blogosphere to set everything up for an attack on Medicare and Social Security.   Here is The Hill blog…

Oh no! No one works anymore, since everyone is getting government handouts! The debt nightmare is coming soon!

It gets worse…

Check out the video below. At almost 83 years of age, Sen. Orin Hatch sounds like he should be in a nursing home. The evil geezer is chairman of the Senate Finance Committee, which wrote the Senate’s version of the Republican tax cut plan. Hatch knows that the U.S. government creates its spending money out of thin air. That’s why the government sets new records every year in its giveaways to military contractors.

In the video below, Hatch talks about the Children’s Health Insurance Program (CHIP) which until two months ago paid for health care for 9 million poor children, and cost about $14 billion a year (which is about one sixth of each year‘s increase for the Pentagon). The program expired two months ago, and  the Republican-controlled Congress has not renewed it.

At 0:43 Hatch whines, “The reason CHIP’s having trouble is because we don’t have money anymore…” 

This is after Hatch pushed through the Senate version of a $1.5 trillion tax cut!  And of course there is infinite money for wars and weapons.

Hatch goes on to say that people who get government benefits, and are not rich are lazy parasites. “For decades now we’ve been spending more than we have, with more and more federal programs…”

Some progressives say that because of antics like this, Republicans have lost their authority to tell us what the U.S. government can and cannot afford.  I wish that was true, but both sides (progressives and right wingers) defend the lies about U.S. government finances.

Meanwhile the corporate media outlets are doing their part to advance the Republican lies.  Here’s the  New York Times…

The United States is already facing a gloomy fiscal landscape. The federal deficit this year topped $660 billion, despite healthy economic growth, and the national debt now exceeds $20 trillion. Janet L. Yellen, the outgoing chairwoman of the Federal Reserve warned last week that the national debt “is the type of thing that should keep people awake at night.”

Progressives also keep the lies alive. From the Global Research blog:  The Real Causes of Deficits and the US Debt.

Social security has created a multi-trillion dollar surplus since 1986, which the US government has annually ‘borrowed’, exchanging the real money in the fund created by the payroll tax and its indexed threshold, for Treasury bonds deposited in the fund.

No. There is no “surplus” or “shortage” in the (non-existent) “fund.” Federal finances work like a scoreboard…

This is depressing, so let’s have some cartoons…

CHANGE OF TOPIC

Do you see anything wrong with the following assertion?

When Mexico declared in 1982 that it would be unable to service interest payments on its national debt, it sparked a global initiative that led to legislation such as the International Lending Supervision Act of 1983. From Investopedia

So maybe there’s something to this “national debt crisis” after all, yes?

No.

On 12 Aug 1982 Mexico announced that it could not pay interest on its foreign debts in foreign currencies.

Mexico’s “national debt” in Mexican pesos can never be a crisis, since Mexican government and the Bank of Mexico can create infinite Mexican pesos out of thin air.

The failure to distinguish between (1) foreign debts in foreign currencies and (2) domestic debts in domestic currencies is sometimes a product of ignorance, and sometimes is done intentionally, in order to sustain the delusion that the “national debt” in domestic currency is a “crisis.” In reality it can never be a crisis in any nation whose government creates its own currency.

This fake U.S. “national debt crisis” is why we get this…

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The return of Stinky

The Durst Corporation is a family-owned real estate empire that installed the “national debt clock” in Midtown Manhattan in 1989.  Here is the Google Maps street-level view.

You and I know that the sign should be renamed the federal deposits clock, or the national assets clock. However people love “national debt,” since it distracts them from the nightmare of private debts, such as student loan debt.  Why worry about real problems when you amuse yourself worrying about non-problems?

The fake “national debt crisis” is like a family relative who came to dinner one night and ended up staying for 28 years (so far). He’s filthy, stinky, obnoxious, and a liar, but he’s familiar and comforting, like an old sofa. With Uncle Stinky around, the house is never truly empty.

Sometimes combat veterans cannot sleep without the noise of bombs and gunfire in the background. Likewise, average Americans cannot sleep without the “end of the world” being imminent from the “national debt crisis.”

It’s been “imminent” for 200 years, and it will be “imminent” for as long as the USA exists. That’s what makes it an old and reliable friend.

It’s bullshit, but it’s beloved bullshit.

On 15 Sep 2017 New York went into mourning when Uncle Stinky (i.e. the “national debt clock”) was temporarily removed for maintenance and upgrades. For six agonizing weeks, New Yorkers worried and fretted, wondering if Stinky was okay.

The dark spot on the brick wall is where the beloved “National Debt Clock” is normally mounted. Here the “clock” has been temporarily removed for maintenance. A replica has been spray painted on the green wall to remind New Yorkers that their beloved friend will return.

Yesterday (2 Dec 2017) just when the tension became unbearable, Uncle Stinky finally reappeared and resumed his place of honor. And there was much rejoicing.

The Durst Corporation also has a web page where you can escape your problems by watching all kinds of “debt clocks” whirring away,  signaling the “end of the world” that never comes.  Or if you wish, you can use that same web page to legitimize your hate, as in, “The Muslims are causing this!”

On another page you can sit staring at the world debt clock, wondering which nation will be destroyed first by its “national debt.” As a bonus, this page does not distinguish between national governments that create their own currency out of thin air, and which is used widely (like the U.S. dollar) and national governments that cannot create their currency out of thin air (like France).

Still another web page does not distinguish between public debt and private debt. It says there is $69 trillion in debt, but it does not say who it is owed to.  This makes it extra valuable. It does not matter what the nature of a “crisis” is, so long as we have some “crisis” to comfort us.

PARTING SHOT

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Republican gymnastics

Republicans have always been liars, but I’ve never seen them be so blatant about it. “We must cut Social Security in order to offset the deficits that we just created.”

It’s like they’re trying to rescue the corrupt and moribund Democrats.

Everyone seems convinced that the Republican tax cuts will benefit only the rich. Whether that’s true or not, people like Marco Rubio (above) are boasting that the Republican tax cuts will necessitate cuts in Medicare and Social Security.

So, on one hand, Republicans ignore their own lie that the U.S. government runs on loans and tax revenue, and has a “funding crisis.” Republicans say that tax cuts will “pay for themselves” by “stimulating growth.”

On the other hand, Republicans are saying that tax cuts will not “pay for themselves,” and will therefore require that Medicare and Social Security be cut.

House Speaker Paul Ryan (R-Wisc.) says that he wants Republicans to reduce spending on social programs in 2018.

Last month at a rally in Missouri, Trump said that “welfare reform” will “take place right after taxes, very soon, very shortly after taxes.”

(So much for Trump’s repeated campaign promises that he would not cut Medicare or Social Security.)

Slashing taxes will cause big budget deficits. Republicans don’t care because they can use the resulting fiscal crisis to go after Medicare, Medicaid and Social Security. Republicans were back to bemoaning the debt even before they had voted on their own plan to add up to $1.5 trillion to it. (The big deficits in GOP tax plan aren’t a glitch — they’re the whole point. – Seattle Times.)

Of course,  there will be no “fiscal crisis,” but average Americans believe there will be. Therefore average Americans will let politicians screw them. They believe the lies because the lies justify their hate and their selfishness. Average Americans think that they alone must toil, while everyone around them is a freeloading parasite. (Average Greeks are especially bad about this, which is why Greeks have let themselves be slaves of the Troika.)

Watch people cheer as Trump brags that “welfare reform is next”…

Lies, lies, lies everywhere. The national debt is a “crisis” and must be “paid off.” Deficit spending is bad. The U.S. government runs on loans and on tax revenue.

Maybe that speaker above is correct: our enemy is indeed all the people around us.

If Republicans move to cut or privatize Medicare and Social Security, and someone asks, “Then why did they push for tax cuts?” the question can be drowned out with two words: welfare reform. 

No amount of austerity can ever be enough. No cuts in social programs can ever be enough. No amount of “welfare reform” can ever be enough. Here is the reason why…

This is depressing, so let me change the subject and lighten the mood…

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Trump mania

America is gripped by Trump mania, a brain-eating virus that causes victims to blame Trump for absolutely everything wrong with their lives. It first appeared on 8 Nov 2016, and since then has been spreading exponentially.

Trump mania makes victims imagine that life before Trump was paradise, and that life without Trump would be paradise again.  It makes even the worst demons seem like saints in comparison to Trump. For example, Trump mania has reduced many former “progressives” into being fans of W. Bush, John McCain, and the murderous CIA. (Literally.) Even Satan is preferable to Trump.

Trump mania has reduced “pacifists” into howling for war with Russia and North Korea. It has boosted political correctness and Social Justice Warriors to new heights.

Trump mania is also a get-out-of-jail-free card. For example, Elizabeth Warren falsely claimed to be Native American in order to get a job at Harvard Law School, ahead of her fellow whites. Harvard then touted Warren as the faculty’s “first woman of color.” Warren continued her fraud for nine years. Trump recently made a joke about her crimes by using the word “Pocahontas” without actually mentioning Warren’s name.

Because of Trump mania, many people excuse Warren’s criminal fraud, while calling Trump’s joke “racist” and “hateful.”

Out in Phoenix AZ the airport handles 44 million passengers a year. It has three terminals. Right now Terminal Three (below) is being renovated at a cost of $600 million.

On Wednesday, Trump mania caused the Phoenix city council to name that terminal after Sen. John McCain, because he pretends to oppose Trump.

The building even includes the scar from brain surgery. 🙂

The following day McCain announced that he would support Trump’s push for tax cuts. This outraged his adoring fans. They had come to revere the warmongering psychopath McCain, and now they suddenly feel betrayed. The Twitter storm is amusing to watch.

Keith Olberman was once a progressive commentator, but Trump mania has reduced him to being a warmongering neocon.  In the video below at 0:25,  Olberman calls John McCain, “My favorite person in American politics in the twenty first century.” Olberman then apologizes for having been progressive in the past. “I owe McCain an apology, I probably owe George W. Bush an apology, and I would happily take a third term of W. Bush rather than this.”

When people say they are sick of Trump, they mean they are sick of their own neurosis. They subconsciously realize that American society is psychotic, and they deny this fact by blaming everything on Trump. Their denial of reality causes a painful cognitive dissonance, which people cope with by screaming louder about Trump, which increases their cognitive dissonance, which makes them scream louder still. That’s Trump mania.

On 12 Aug 2017 White nationalists clashed with Antifa thugs at Charlottesville VA. One person was killed. Ex-president Obama Tweeted, “People must learn to hate, and if they can learn to hate, they can be taught to love…” This became the most “liked” Tweet in Twitter history. People replied with “I love you and miss you!” “We wish you were president again!” And so on. They tearfully pined for “Oh captain, my captain.” They forgot Obama’s murderous crimes (e.g. the destruction of Libya) and made Obama into a saint. That’s Trump mania. It has reduced much of the U.S. population to zombies.

As mindless zombies, the victims of Trump mania are easy targets for right-wing bloggers who poke at them for fun. One merely needs to say a word in Trump’s defense, or a word against the victims of Trump mania, and the victims go into convulsions.

Finally, regarding the Republican tax plan, no one has seen it except the few Republicans who are crafting it. However rich people and huge corporations pay no taxes anyway, and a tax cut at the federal level does not make cuts in social programs mathematically inevitable.

For political reasons, however, politicians in the near future will probably say that Medicare and Social Security must be privatized, since the U.S. government is now “bankrupt.” And the masses will believe it, even as the Pentagon is given another $80 billion raise.

PARTING SHOT

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Suggestion

Yesterday the Argentine navy abandoned its attempts to rescue 44 crew members on board a submarine that disappeared two weeks ago. Nobody has been able to find it.

This puzzles me.

All aircraft are required by law to have transponders in case there is a crash or some other emergency. In addition, airliners have “black boxes.” So why not submarines?

When the Russians lost their Kursk submarine (12 Aug 2000; 118 deaths) it took them quite a while to find it.  Same thing when they lost the K-129 submarine (8 March 1968; 98 deaths).

Suggestion:

We mount a device in each submarine that sounds a small alarm in the command and control area every hour on the hour. Each time the small alarm sounds, crewmen have five minutes to turn it off by flipping a switch. If crewmen do not turn it off in five minutes, the submarine automatically releases a number of buoys that float to the surface. Onboard the buoys are transponders that give their GPS locations. The buoys are simultaneously released from several places on the sub from nose to stern, in case one part of the sub has been destroyed. In addition, the submarine has numerous transponders aboard that are automatically triggered when the buoys are released. The transponders broadcast in several frequencies simultaneously, including the ELF band, which will penetrate the entire earth. We already communicate with submarines in this manner. The transponders on the buoys and in the sub give exact GPS locations at all times, albeit encoded. If security is an issue, then crewmen can temporarily deactivate the onboard transponders, but not the buoy transponders, which are only activated in emergencies, and automatically. Also the system can be activated manually on a moment’s notice by flipping a switch. If someone screws up and causes a false alarm, there’s no harm done.

Strange how they don’t have something like this. Maybe some navies do, depending on the nation.  Some submarines have manual items like this, but I’m talking about a fully automated system in case the crew are incapacitated. There are many types of marine emergency transponders used in boats that broadcast the GPS location.

Example.

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False equivalencies

Before I get to my main topic, I note that Fed chairperson Janet Yellen says that the “national debt crisis” is, “The type of thing that should keep people awake at night.”

From CNBC…

With Congress wrestling over a tax reform plan that critics say would explode the government budget deficit, Federal Reserve Chair Janet Yellen said she also is concerned over the surging level of public debt. The price tag of the plan is in the area of $1.5 trillion at a time when the Congressional Budget Official already is projecting a deficit of more than $1 trillion in the years ahead and with the total debt level at $20.6 trillion and rising. Of that total, $14.9 trillion is owed by the public.

The other $5.29 trillion is what the U.S. government owes itself – i.e. it’s what various government agencies have deposited in Federal Reserve savings accounts.

Now that’s what I call a debt crisis. Not.

Note the wording…

The price tag of the plan is in the area of $1.5 trillion at a time when the Congressional Budget Official already is projecting a deficit of more than $1 trillion in the years ahead…

This means that over the next ten years the U.S. government will put $1 trillion more into the economy than the government will tax out of it. Let’s hope that’s true.

Even if a $1 trillion deficit over ten years was somehow a problem, the U.S. government spends more than $1 trillion every year on the Pentagon, plus the “intelligence” agencies, plus “Overseas Contingency Operation,” (aka the “War on Terror”).

Janet Yellen knows all this, but lying is part of her job description — although occasionally a Fed chairperson has accidentally spoken the truth. The following three videos are 60 seconds or less…

Ben Bernanke: “To lend to a bank, we simply use a computer to mark up the size of the account that they have with the Fed.”

Alan Greenspan: “We can always print money to pay U.S. debt. So there is zero probability of default.” (That is, the Fed can always create money out of thin air to pay interest on money deposited in Fed savings accounts.)

Alan Greenspan (at 0:39) “There’s nothing to prevent the federal government from creating as much money as it wants.”

More nonsense from Janet Yellen:

“I am very worried about the sustainability of the U.S. debt trajectory. Our current debt-to-GDP ratio of about 75 percent is not frightening but it’s also not low.”

Poor Yellen never learned arithmetic. The “national debt” is over $20 trillion. The U.S. GDP is about $15 trillion per year. Therefore the “debt-to-GDP ratio” is actually 125%. And yet miraculously the USA has not collapsed.

By the way, when I was getting the links for those Fed videos above, I saw the video below, in which an “expert” has been struck down by Ellen Brown Syndrome (EBS). This is a tragic ailment which makes people imagine that all money is created by the Fed as loans.

I also saw this…

MAIN TOPIC

The following paragraph pretends that all countries are the same.

Saudi Crown Prince Muhammad bin Salman (or MBS) faced having a broke country, an empty treasury, and a lot of very rich citizens with full coffers. Trump faces a similar problem. In the US, the rich have everything while the state is $20 trillion in debt. Jeff Bezos, Bill Gates and Mark Zuckerberg have as much in their coffers as all the ordinary folk combined. The annual deficit is about $400 billion; the Rockefellers would not even notice if this paltry sum went amiss from their holdings, estimated at well over a trillion dollars. The Greeks have it even worse: they are in debt, biting the bullet of austerity, while the moneys the Greek state borrowed have lined the pockets of the rich.Source

People don’t understand the differences because they don’t want to. It’s fun to complain about things that don’t hurt us, so we can avoid grappling with things that do hurt us.

The problem is universal. Everywhere, from the UK to Russia and from Brazil to Greece it’s the same: the state coffers are empty, politicians prescribe austerity for the people, while a few rich guys enjoy the fast growth of their untaxed capital.

What’s universal are lies and delusions about money, like we see in this quote above.

If a nation badly needs foreign currency, and its rich people have a lot of foreign currency in their bank accounts, then it makes sense to tax the rich in foreign currencies. But if a nation does not need foreign currencies, and its rich people have money in the nation’s own currency, then taxing the rich will make no difference. National governments have no need or use for tax revenues in their own currencies.

Crown Prince MBS found a solution. He rounded up hundreds of the wealthiest people in his Kingdom, placed them in the posh five-star hotel Ritz Carlton in his capital Riyadh, and told them to cough up the dough. When they laughed at his face, he called for torturers to begin, Mafia-style, his extortion racket.

What is  your proof for this? And what kind of “dough” are you talking about? Foreign or domestic? Do you admire Crown Prince MBS? The Saudis are as evil as the Israelis and Americans. That’s why all three are staunch allies.

The Daily Mail, in an exclusive report, tells us that “the Saudi princes and billionaire businessmen arrested in a power grab earlier this month are being strung up by their feet and beaten by American private security contractors. The arrests have been followed by ‘interrogations’ which a source said were being carried out by ‘American mercenaries’. ‘They are beating them, torturing them, slapping them, and insulting them. They want to break them down,’ the source told DailyMail.com.

Ha, ha, ha! These days, all the proof or evidence we need from the corporate media outlets is an unnamed “source.” This merits a stamp of approval!

According to the Daily Fail the unnamed “source” says that Saudi billionaires are being tortured by U.S. mercenaries from Academi (formerly Xe Services, formerly Blackwater, formerly Constellis Holdings, formerly Triple Canopy etc etc).

Academi flat denies this.

From the Daily Fail:

 “The Saudi crown prince, according to the source, has also confiscated more than $194 billion from the bank accounts and seized assets of those arrested.”

Again, in what currency? Without specific details, we are forced to call bullshit.

Admittedly this is clever bullshit, since average Westerners like to fantasize about some dictator torturing and imprisoning all his rich people. The most effective lies are those that appeal to average people’s lurid fantasies.  

CHANGE OF TOPIC

I just Googled the words, “Why can’t we just print money to pay off the national debt?” There were 2.8 million results. I skimmed about 50 of them, and they all make the same three errors.

ERROR ONE: All of them falsely assume that the “national debt” must be “paid off.”  Do deposits in a bank need to be “paid off”? No.

As for deposits in Federal Reserve savings account, each T-security is paid off as it matures.

ERROR TWO: All of them falsely assume that creating more government money will cause inflation. This is a bullshit rationale that peasants use to console themselves in their poverty.

Inflation in the UK and USA can only happen when there is (a) excess money in circulation, combined with (b) the nation being at full capacity in terms of production and employment. Both conditions must apply. The only time this has ever occurred during the last 100 years was during the World Wars. Everybody had a job, but there was a shortage of consumer goods to spend one’s salary on. The U.S. government’s solution was to remove money from the economy via taxation, and by selling “War Bonds” that were basically T-securities.

Today neither the UK or USA are anywhere near this situation. If the U.S. government created $10 trillion out of thin air for infrastructure repairs and improvements, it would create millions of jobs, directly and indirectly, with no inflation problem. Each year the U.S. government sets new records in spending on its wars, and on the Pentagon. Does this cause an inflation problem? No.

The U.S. government intentionally creates too little money, in order to keep the masses in poverty. In a society where power is a product of money, you must keep your peasants starving in order to keep them under your power. It’s called gratuitous austerity.

ERROR THREE: All of them falsely assume that money and commodities are the same thing. They talk about things like ancient societies using “commodity money.” Wrong. Commodities can be bought, sold, or purchased, but not “spent” like money. Commodities are physical and limited. Money is not. Money is a way to keep score, or keep accounts. A dollar is an abstract unit of account. A dollar bill is a token of account. If I have traded a bar of gold for a car, then I have not “spent” my gold. I have traded it.

Some ancient societies did not use money, but all of them had a central system of accounts. In effect they always had a bank, and it was usually located in a religious temple. Even societies that created coins as tokens of account usually made the coins in a temple.

The English word “money” comes from the Latin “moneta,” which was the surname of the Roman goddess Juno, in whose temple coins were made. Juno was the mother of the gods, and queen of the gods. (Her Greek equivalent was Hera.)

Mere semantics, you say? No. Since the peasants refuse to understand the difference between money and commodities, the peasants believe the lie that money is physical and limited. Hence they voluntarily submit to slavery and starvation.

PARTING SHOTS

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