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Old June 14th, 2012, 01:10 PM   #1
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Funny how you can learn more about our nation's and the world economy from animated You Tube bears than from the mainstream media and US government officials. And it is done with humor. Please watch and listen to understand what your Federal Reserve is doing to your life and your livelihood.



http://www.youtube.com/watch?v=PTUY16CkS-k
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Old June 14th, 2012, 01:15 PM   #2
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End the Fed and create the US National Bank.
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Old June 15th, 2012, 12:16 AM   #3
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It's just amazing how this insanity is accepted.



When there is a recession, and the people have less to spend, it's "bad" that prices go down, for instance.... we "need" a little inflation, as the saying goes. But, the prices of everything aren't going down.



The only thing deflating is the Fed's credibility. ROFLMAO Were it only more universally appreciated, RC.



The Treasury Bond buying and selling fiasco.... doesn't this stuff just blow your mind? Great God, how many people know NY Fed Gov. Dudley was a partner at Goldman-Sachs, from which the Fed buys Treasury Bonds when the Fed could, and should, buy them FROM THE TREASURY!!!!!!



This sh*t is going on in the light of day. It's not secret. Anyone can affirm it. It's a crime. It's going on while our pathetic politicians and everyday partisans debate: Austerity vs. Stimulus.



Once you see what's really going on, I mean really see it, you can't go back, can ya?
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Old June 15th, 2012, 12:18 AM   #4
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Here's Pt. 2.



I hope Fayt watches Pts. 1 and 2.



[youtube]http://youtu.be/oGIvw7T0GPI[/youtube]
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Old June 15th, 2012, 02:39 AM   #5
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Quote:
Originally Posted by imaginethat View Post
Once you see what's really going on, I mean really see it, you can't go back, can ya?


No, there is no going back, IT. You were absolutely right. And because this is done in the perfect light if day, no one raises an eye brow. It is similar to a car alarm going of in a parking lot. Everyone assumes that it is a false alarm. Trust the obvious. That should be obvious in and of itself. But it is not.
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Old June 15th, 2012, 03:49 AM   #6
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Quote:
Originally Posted by Radicalcentrist View Post
Quote:
Originally Posted by imaginethat' timestamp='1339748175' post='407854

Once you see what's really going on, I mean really see it, you can't go back, can ya?


No, there is no going back, IT. You were absolutely right. And because this is done in the perfect light if day, no one raises an eye brow. It is similar to a car alarm going of in a parking lot. Everyone assumes that it is a false alarm. Trust the obvious. That should be obvious in and of itself. But it is not.


Splendid analogy.



A comparable analogy for "going back" would be regaining one's virginity.
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Old June 15th, 2012, 06:28 AM   #7
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http://truth-out.org/opinion/item/94...s-so-miserable



Sounds like it makes sense.
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Old June 15th, 2012, 12:21 PM   #8
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Originally Posted by waitingtables View Post
http://truth-out.org...es-so-miserable



Sounds like it makes sense.


Great article WT, and yeah, with central banks worldwide owned by private parties, no nation has a sovereign fiat currency. Thus, ALL nations are under the control of private bankers, and all efforts to "fix" the economies of nations whose fiat currencies are not sovereign are by definition failures before the efforts even are begun.



And yet, that's the dialogue: What can be done to "fix" the economy ... without fixing the primary problem?



The only honest answer to that question is: Nothing.
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Old June 15th, 2012, 12:39 PM   #9
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No we have a sovereign currency here. This part of the article got me:









Quote:



But in what sense does that deficit become a “debt” that we, the players, should worry about paying back? The balance sheet shows that the CIG’s deficit is not our debt at all, but simply a record of the currency that’s been issued into our game. And where did all that “deficit spending” end up? Look again at the balance sheet: it’s in the accounts and assets of the players themselves.


Maybe we should think of something else to call it


When my personal bank account is in “deficit”, that is something I worry about. When a city or state government has a “deficit”, that’s also something to worry about because we have not given our “local” governments the power to issue the currency (they are users of the currency, just like the rest of the players.) When their coffers are empty, they have to make tough choices and cutback on their spending. But when we say our sovereign government has a growing “deficit”, we are badly misleading ourselves if we use the word the way we do when we think of our own bank accounts. What MonopolisMonopoly is showing us is that our sovereign “deficit” is in fact a balance sheet accounting of our own financial wealth. And why we would want to reduce that is a mysterious thing indeed!


MMT versus Neanderthal Economics


Actually, there’s only one reason we’d want to make ourselves miserable by imposing some arbitrary budget rule or fiscal austerity on our game: because we still believe we’re operating under the rules of what might now be called “Neanderthal Economics,” which go something like this:


“We must adhere to the principles of ‘sound money’ for if we do not, our citizens will lose faith in the currency and begin converting it into gold. To prevent this from happening, the sovereign must spend only what it takes in. If it tries to spend too much, its gold reserves will be depleted and it will be forced into bankruptcy just like anyone else.”


And what if, believing this, we actually eliminated the deficit and began running surpluses? Well, in that case it’s obvious our game of Monopolis Monopoly would quickly come to an end: Our CIG would have all its money again, but the players would have nothing with which to play the game. At that point, we might just as well pack everything neatly into the Monopoly box and put it back on the pantry shelf.


The astute player will object that we’ve left out too many things for our game to really mean anything: Private banking, for example, or managing inflation, or bonds and interest rates (if the Fed doesn’t “need” money, then why does it seem to borrow so much of it?) Next time we play Monopolis we could add those in, but they won’t change the basic MMT truths that our simple version of the game has revealed:


A society with a sovereign fiat currency can build any thing or obtain any service it deems necessary or desirable, so long as the citizens of that society are willing and able to build the thing, or provide the service, in exchange for the fiat money. The sovereign deficit, no matter how large it may grow, is not like a shortfall in your own bank account: it is the balance sheet record of the money that was transferred to our side of the ledger.


The implications of this, I believe, are simply astounding.





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Old June 16th, 2012, 10:35 AM   #10
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Quote:
Originally Posted by waitingtables View Post
No we have a sovereign currency here. This part of the article got me:









Quote:



But in what sense does that deficit become a “debt” that we, the players, should worry about paying back? The balance sheet shows that the CIG’s deficit is not our debt at all, but simply a record of the currency that’s been issued into our game. And where did all that “deficit spending” end up? Look again at the balance sheet: it’s in the accounts and assets of the players themselves.

Maybe we should think of something else to call it

When my personal bank account is in “deficit”, that is something I worry about. When a city or state government has a “deficit”, that’s also something to worry about because we have not given our “local” governments the power to issue the currency (they are users of the currency, just like the rest of the players.) When their coffers are empty, they have to make tough choices and cutback on their spending. But when we say our sovereign government has a growing “deficit”, we are badly misleading ourselves if we use the word the way we do when we think of our own bank accounts. What MonopolisMonopoly is showing us is that our sovereign “deficit” is in fact a balance sheet accounting of our own financial wealth. And why we would want to reduce that is a mysterious thing indeed!

MMT versus Neanderthal Economics

Actually, there’s only one reason we’d want to make ourselves miserable by imposing some arbitrary budget rule or fiscal austerity on our game: because we still believe we’re operating under the rules of what might now be called “Neanderthal Economics,” which go something like this:

“We must adhere to the principles of ‘sound money’ for if we do not, our citizens will lose faith in the currency and begin converting it into gold. To prevent this from happening, the sovereign must spend only what it takes in. If it tries to spend too much, its gold reserves will be depleted and it will be forced into bankruptcy just like anyone else.”

And what if, believing this, we actually eliminated the deficit and began running surpluses? Well, in that case it’s obvious our game of Monopolis Monopoly would quickly come to an end: Our CIG would have all its money again, but the players would have nothing with which to play the game. At that point, we might just as well pack everything neatly into the Monopoly box and put it back on the pantry shelf.

The astute player will object that we’ve left out too many things for our game to really mean anything: Private banking, for example, or managing inflation, or bonds and interest rates (if the Fed doesn’t “need” money, then why does it seem to borrow so much of it?) Next time we play Monopolis we could add those in, but they won’t change the basic MMT truths that our simple version of the game has revealed:
[indent=1]

A society with a sovereign fiat currency can build any thing or obtain any service it deems necessary or desirable, so long as the citizens of that society are willing and able to build the thing, or provide the service, in exchange for the fiat money. The sovereign deficit, no matter how large it may grow, is not like a shortfall in your own bank account: it is the balance sheet record of the money that was transferred to our side of the ledger.[/indent]


The implications of this, I believe, are simply astounding.




You've drawn the wrong conclusion from this, in my opinion. This MMT is PR for privately owned central banks, a "don't worry about debt" pacifier.



We do not have a sovereign currency, and this article saying that we do is pure deception. The US has had sovereign currency, in the form of US bank notes. It doesn't have a sovereign currency now. Get out your wallet, pull out a bill. What does it say right across the top on the front?



Federal Reserve Note, a instrument of debt which is not issued by the government of the US.



I hope you get it sometime. Frankly, I don't see how anyone can't get it by watching the OP video, and the part 2 that I posted, but evidently it's possible, and it's possible for an intelligent person like you. The spell cast by the worldwide private banking cartel reminds me of the spell cast by the neocons during the Bush Administration, a spell that still has some under its control.



I'll say it once more WT, because it's true: The United States of America does not have a sovereign currency. It gave away that power to the world banking cartel in 1913. The world banking cartel's US branch is known as the Federal Reserve System, which features ten "neighborhood" branch banks.



The United States of America does not have a sovereign currency. If it did, the deficit and the debt would indeed be accounting exercises. As it is, having a debt and a deficit funded by loans "arranged" by the Federal Reserve mean US taxpayers work a portion of every day for the world banking cartel, as do the citizens of every other nation that has a privately owned central bank. It stinks, but it's true.



If you'd rather not believe this is so, don't worry. There are a lot of folks who'll tell you otherwise. Unfortunately, they are lying.
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