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The Veil of Money

Quote, ” A deeper understanding of money could have prevented the Great Recession which followed.”
https://weapedagogy.wordpress.com/2016/04/26/the-veil-of-money/#respond

OMG, why then do you wish to discuss, What you know is wrong ?
OMG, why not…”A deeper understanding of money”?
OMG, could a deeper (read simpler) understanding of money prevent recessions?
OMG, Frederick Soddy writings, namely “The Role Of Money”
(Entire book as a free download… http://archive.org/details/roleofmoney032861mbp

PREFACE
This book attempts to clear up the mystery of money in its social aspect. With the monetary
system of the whole world in chaos, this mystery has never been so carefully fostered as it is to-day.
And this is all the more curious inasmuch as there is not the slightest reason for this mystery.
This book will show what money now is, what it does, and what it should do. From this will
emerge the recognition of what has always been the true role of money. The standpoint from
which most books on modern money are written has been reversed. In this book the subject is not
treated from the point of view of the bankers as those are called who create by far the greater
proportion of money but from that of the PUBLIC, who at present have to give up valuable
goods and services to the bankers in return for the money that they have so cleverly created
and create. This, surely, is what the public really wants to know about money.

It was recognized in Athens and Sparta ten centuries before the birth of Christ that one
of the most vital prerogatives of the State was the sole right to issue money. How curious that
the unique quality of this prerogative is only now being re-discovered. The” money-power ” which
has been able to overshadow ostensibly responsible government, is not the power of the merely ultrarich, but is nothing more nor less than a new technique designed to create and destroy money
by adding and withdrawing figures in bank ledgers, without the slightest concern for the interests of
the community or the real role that money ought to perform therein.
The more profound students of money and, more recently, a very few historians have realized
the enormous significance of this money power or technique, and its key position in shaping the
course of world events through the ages. In this book the mode of approach and the philosophy
of money is expounded in the light of a group of new doctrines, to which the name ergosophy is
collectively given, which regard economics, sociology, and history with the eye of the engineer
rather than with that of the humanist. It is concerned less with the details of particular schemes
of monetary reform that have been advocated than with the general principles to which, in the
author’s opinion, every monetary system must at long last conform, if it is to fulfil its proper role
as the distributive mechanism of society. To allow it to become a source of revenue to private issuers is
to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately
to overthrow all other forms of government.”

***** “Believe nothing merely because you have been told it…But whatsoever,
after due examination and analysis,you find to be kind, conducive to the good,
the benefit,the welfare of all beings – that doctrine believe and cling to,and
take it as your guide.”- Buddha[Gautama Siddharta] (563 – 483 BC),
Comments by Justaluckyfool ( http://bit.ly/MlQWNs )(justaluckyfool@aol.com).

WEA Pedagogy Blog

Many leading economists have come to agree with Nobel Laureate Stiglitz that modern economic theory represents the triumph of ideology over science. One of the core victories of ideology is the famous Quantity Theory of Money (QTM). The QTM teaches us that money is veil – it only affects prices, and has no real effect on the economy. One must look through this veil to understand the working of the real economy. Nothing could be further from the truth.

In fact, the QmoneymoneyTM itself is a veil which hides the real and important functions of money in an economy. The Great Depression of 1929 opened the eyes of everyone to the crucial role money plays in the real economy. For a brief period afterwards, Keynesian theories emerged to illuminate real role of money, and to counteract errors of orthodox economics. Economists believed in the QTM, that money doesn’t matter…

View original post 557 more words

CAN YOU ANSWER,”TOO BIG TO FAIL”?

? To Big To Fail ? Only IF you know what causes “systemic failure” and or “monetary collapse”?
Can you answer the question….’Why was the ‘failure’ of the Savings and Loans Sector, not a possible
‘systemic failure’ or causation for a ‘monetary collapse’. Or any “BOOM-BUST” ? Dot Coms ?
Perhaps, maybe: It was different- the banks did not abandon their fiduciary duty; they did protect the assets.
In these cases, no systemic risk or possible monetary failure; just bust (recession). The system worked: the Federal Bank turned the “FICTITIOUS” money into “GENUINE” money.
In 2007 and 2008, the Fed was forced to replace the money the banks received (read-stole) for “fraudulently guaranteed safe securities.(MBSs)”

READ…. https://justaluckyfool.wordpress.com/2016/01/21/so-where-is-the-multi-trillion-dollar-class-action-lawsuit/
Quote, Sheila Bair. Quote Ben Bernanke.

http://neweconomicperspectives.org/2016/04/big-fail-eyes-specialist.html#more-10264

Too Big to Fail From the Eyes of a Specialist….

“…understand the statute or the concept of what the statute provides as to when the Financial Stability Oversight Council (FSOC) designates an institution as systemically dangerous. (In a telling euphemism, they are actually designated “systemically important.”)…”

We must ask, “What designates an institution as “monetarily systemic dangerous”?

“Let us begin with reality. MetLife reported that at yearend 2015 it had total assets of $878 billion. That means that it poses a massive risk to the global system should it fail. Maybe, if it had $500 billion less in reported assets it might be worthy of debate. It has over $200 billion more in reported assets that Lehman claimed when it failed – and Lehman triggered a global crisis.”
e statute or the concept of what the statute provides as to when the Financial Stability Oversight Council (FSOC) designates an institution as systemically dangerous. (In a telling euphemism, they are actually designated “systemically important.”)
Too Big is not the problem, the quality of the assets becomes the question; $878 billion that is leveraged too many times should be considered a “possible systemic risk”. Any institution that has $878 billion in assets that has zero leverage has ONLY its self at risk.

“The probability of a global crisis is increased enormously if (a) we continue to create and make worse the criminogenic environments that produce the increasingly severe fraud epidemics that drive our financial crises and….

Separation of all Private For Profit Corporations from “special entitlements legislated for them from and by government”,
they must become accountable and transparent, subject to civil and criminal law.

(b) if we continue to allow systemically dangerous institutions to exist rather than shrinking them.”

“The issue is when the next systemically dangerous entity will fail – not “if.”

“One of the reasons we, the Bank Whistleblowers United, proposed getting rid of the systemically dangerous institutions through the use of banking regulators’ powers to set individual minimum capital requirements is that it allows vastly quicker remedial action than the cumbersome FSOC procedure that took over two years to designate MetLife as posing a systemic risk.”

” Even if we broke up every big bank, reinstated Glass-Steagall, and put the speculators who created the 2007-2008 crash in jail
I’m not certain we can save the nation from financial collapse.”
Yes, because breaking up the ‘size’ of the too big to fail doesn’t cure the disease.
The disease of “systemic failure” and “monetary collapse” can only be cured by:
‘Separation of Private For Profit Banks’ from being the recipients of special privileges and protections granted by the state, and by taking away their legislated privilege of being allowed to issue our currency and poisoning that issuance with a taxation called ‘interest’.
The sole right of issuance belongs to the people, the true owners of the ‘National Wealth’. The people have entrusted their Central Bank to be the sole guardian of this ‘National Wealth’
‘ Reverse an economic recovery program that has privileged the recovery of financial markets and corporate profits has fueled the increase in wealth inequality, in the United States and across the world.’”
Take back from the Private For Profit Banks (PFPB) what we have legislated as an entitlement, “The issuing of our own money and charging “We The People” interest on that issuance .”
Then we could allow them to fail as they no longer will be a ‘systemic risk’ or be able to cause
‘monetary failure.’ Then we must make them subject to civil and criminal laws.

“Capitalism is the best system to date devised by mankind. As it is administrated, perhaps, is where the ‘flaw’ is manifested. If capitalism used its Central Bank properly, with honesty, accountability and transparency for the betterment of the common good, with equality and justice for all, capitalism could be the one of the greatest achievements of mankind.”

Quote Mises (1998, 440): “Only free banking would have rendered the market economy secure against crises and depression. [And] [t]here is no reason whatever to abandon the principle of free enterprise in the field of banking.”
“Free banking means banks operate in an environment in which banks are subject to the general rules of commercial and civil law and are not the recipients of special privileges and protections granted by the state; placing “the banking business under the general rules of commercial and civil laws compelling every individual and firm to fulfill all obligations in full compliance with the terms of the contract.”

QUOTE: Soddy, “…indeed it is now a truism was that nothing useful can be done unless and until a scientific money system
takes the place of the one now always breaking down. The corollary, however, is never likely to be popular with our professional politicians…
It was that, if such a thing were done, little else in the way of arbitrary interference with and government control over the essential activities
of men in the pursuit of their livelihood would be required.
Indeed, just as now not one in a thousand understands why the existing money system has such power to hurt him,
so, if it were corrected as here outlined, not one in a thousand would need to know or, indeed, would know,
except by the consequences, either that it had been rectified or how it had been rectified…”
Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth
and the continuous flow of goods and services throughout the nation, money has become the life-blood of the community,
and for each individual a veritable licence to live at all…
A very slight knowledge of our actual existing monetary system makes it abundantly clear that,
without democracy knowing or allowing it, and without the matter ever being before the electorate
even as a secondary or minor political issue, the power of uttering money has been taken out of
national hands and usurped as a perquisite by the moneylender. Practically every genuine
monetary reformer is unanimous that the only hope of safety and peace lies in the nation
instantly resuming its prerogative over the issue of all forms of money…”
Comments by Justaluckyfool ( http://bit.ly/MlQWNs )
( “You are always welcome to share, copy, plagiarize, improve, etc..any comments.)
Read and challenge: DESTROY, EDIT OR ENDORSE. “SODDYISM”
… every monetary system must at long last conform, if it is to fulfil its proper role
as the distributive mechanism of society. To allow it to become a source of revenue to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.”
Frederick Soddy writings, namely “The Role Of Money”
(Entire book as a free download…) http://archive.org/details/roleofmoney032861mbp ;

UPDATE-NEW POST:
http://neweconomicperspectives.org/2016/04/bernies-economic-policies-fit-economic-theory.html#more-

http://neweconomicperspectives.org/2016/04/bernies-economic-policies-fit-economic-theory.html#more-10285
“Fifth, mainstream macro proponents like Athreya (p. 340) strongly support Bernie’s policy that it is essential to get rid of the systemically dangerous banks, which he aptly describes as holding America for “ransom.” …
“Athreya, a strong supporter of freshwater macro, agrees that creating effective institutions that restore the rule of law are vital to countering the negative externalities caused by elite fraud and global climate change.
A good deal of macroeconomic work on the crisis aims to clarify why privately optimal arrangements, particularly debt, can create ex-ante and ex-post inefficiency.
Bernies policy, “get rid of” would be a treatment of the symptoms since it lacks the … “creating effective institutions that restore the rule of law (which) are vital to countering the negative externalities caused…”
The cure would be an Honest Central Bank as the sole guardian of the sovereign currency and all institutions being held accountable to civil and criminal rule of law.

MMT scholars begin with assumptions that are empirical and based on how sovereign currencies actually function.I will leave the heavy lifting on MMT to my colleagues. …What Davidson asserts – “money.” He also thinks money must be “raised” (presumably through taxation), so he does not understand how sovereign money is created.
MMT…assumes incorrectly how sovereign currencies actually function as a SYSTEM OF DISTRIBUTION… and does not understand how sovereign money AS WEALTH is created;yet, does understand how sovereign money AS A REDEEMABLE RECEIPT is created.
It can never be repeated enough:Read and challenge: DESTROY, EDIT OR ENDORSE. “SODDYISM”

“Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth
and the continuous flow of goods and services throughout the nation, money has become the life-blood of the community,
and for each individual a veritable licence to live at all…
A very slight knowledge of our actual existing monetary system makes it abundantly clear that,
without democracy knowing or allowing it, and without the matter ever being before the electorate
even as a secondary or minor political issue, the power of uttering money has been taken out of
national hands and usurped as a perquisite by the moneylender. Practically every genuine
monetary reformer is unanimous that the only hope of safety and peace lies in the nation
instantly resuming its prerogative over the issue of all forms of money…”
Read and challenge: DESTROY, EDIT OR ENDORSE. “SODDYISM”
“… every monetary system must at long last conform, if it is to fulfil its proper role
as the distributive mechanism of society. To allow it to become a source of revenue to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.”
Frederick Soddy writings, namely “The Role Of Money”
(Entire book as a free download…) http://archive.org/details/roleofmoney032861mbp ;

“How do you democratically have a “Capitalistic Economy For The Betterment Of The People” ?

“How do you democratically have a “Capitalistic Economy For The Betterment Of The People” ?

Quote Bernie Sanders, “We have got to break them up so that they do not pose a systemic risk and so that we have a vibrant economy with a competitive financial system.”

QUOTE, Clinton Vs. Sanders on Big Banks
http://therealnews.com/t2/index.php?option=com_content&task=view&id

“…You’r talking about a fundamental tension in our democracy. Between a representative democracy and a capitalist economy. Our market cares about profit. The government cares about people. And there is a built in tension between a representative democracy and a capitalist economy, which only cares about profit and really doesn’’t care about its effect on people.”
Quote Alan Greenspan,
“In testimony before Congress on October 23, 2008 Alan Greenspan said that he had overestimated the ability of free financial markets to self-correct and he had missed the possibility that deregulation could unleash a destructive force on the economy. Greenspan then added “I still do not fully understand why it happened, and obviously to the extent that I figure it happened and why, I shall change my views”.(Greenspan stated: “This crisis, however, has turned out to be much broader than anything I could have imagined…. In recent decades, a vast risk management and pricing system has evolved, combining the best insights of mathematicians and finance experts supported by major advances in computer and communications technology. A Nobel Prize was awarded for the discovery of the [free market] pricing model that underpins much of the advance in [financial] derivatives markets. This modern risk management paradigm held sway for decades. The whole intellectual edifice, however, collapsed.”)”THE KEYNES SOLUTION: THE PATH TO GLOBAL ECONOMIC PROSPERITY VIA A SERIOUS MONETARY THEORY” by Paul Davidson, 2012.

JUSTALUCKYFOOL asks,
“How do you democratically have a “Capitalistic Economy For The Betterment Of The People” ?

” Even if we broke up every big bank, reinstated Glass-Steagall, and put the speculators who created the 2007-2008 crash in jail
I’m not certain we can save the nation from financial collapse.”
Yes, because breaking up the ‘size’ of the too big to fail doesn’t cure the disease.

The disease of “systemic failure” and “monetary collapse” can only be cured by:
‘Separation of Private For Profit Banks’ from being the recipients of special privileges and protections granted by the state, and by taking away their legislated privilege of being allowed to issue our currency and poisoning that issuance with a taxation called ‘interest’.

‘ Reverse an economic recovery program that has privileged the recovery of financial markets and corporate profits has fueled the increase in wealth inequality, in the United States and across the world.’”
Take back from the Private For Profit Banks (PFPB) what we have legislated as an entitlement, “The issuing of our own money and charging “We The People” interest
on that issuance .”
Allow them to fail for they no longer will be a ‘systemic risk’ or be able to cause
‘monetary failure.’ Allow them to be subject to civil and criminal laws.

The sole right of issuance belongs to the people.

“Capitalism is the best system to date devised by mankind. As it is administrated, perhaps, is where the ‘flaw’ is manifested. If capitalism used its Central Bank properly, with honesty, accountability and transparency for the betterment of the common good, with equality and justice for all, capitalism could be the
one of the greatest achievements of mankind.”

Quote Mises (1998, 440): “Only free banking would have rendered the market economy secure against crises and depression. [And] [t]here is no reason whatever to abandon the principle of free enterprise in the field of banking.”
“Free banking means banks operate in an environment in which banks are subject to the general rules of commercial and civil law and are not the recipients of special privileges and protections granted by the state; placing “the banking business under the general rules of commercial and civil laws compelling every individual and firm to fulfill all obligations in full compliance with the terms of the contract.”

QUOTE: Soddy, “…indeed it is now a truism was that nothing useful can be done unless and until a scientific money system
takes the place of the one now always breaking down. The corollary, however, is never likely to be popular with our professional politicians…
It was that, if such a thing were done, little else in the way of arbitrary interference with and government control over the essential activities
of men in the pursuit of their livelihood would be required.
Indeed, just as now not one in a thousand understands why the existing money system has such power to hurt him,
so, if it were corrected as here outlined, not one in a thousand would need to know or, indeed, would know,
except by the consequences, either that it had been rectified or how it had been rectified…”

Since, in all monetary civilizations, it is money that alone can effect the exchange of wealth
and the continuous flow of goods and services throughout the nation, money has become the life-blood of the community,
and for each individual a veritable licence to live at all…

A very slight knowledge of our actual existing monetary system makes it abundantly clear that,
without democracy knowing or allowing it, and without the matter ever being before the electorate
even as a secondary or minor political issue, the power of uttering money has been taken out of
national hands and usurped as a perquisite by the moneylender. Practically every genuine
monetary reformer is unanimous that the only hope of safety and peace lies in the nation
instantly resuming its prerogative over the issue of all forms of money…”

Comments by Justaluckyfool ( http://bit.ly/MlQWNs )
( “You are always welcome to share, copy, plagiarize, improve, etc..any comments.)

Read and challenge: DESTROY, EDIT OR ENDORSE. “SODDYISM”

… every monetary system must at long last conform, if it is to fulfil its proper role
as the distributive mechanism of society. To allow it to become a source of revenue to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.”

Frederick Soddy writings, namely “The Role Of Money”
(Entire book as a free download…) http://archive.org/details/roleofmoney032861mbp ;

For individuals- – -“Inequality and Poverty Reduction Adjustment Program” For corporations–“Human Rights and Justice Adjustment Program”

For individuals- – -“Inequality and Poverty Reduction Adjustment Program”. For corporations–“Human Rights and Justice Adjustment

Program”.s://rwer.wordpress.com/2016/04/09/us-corporate-income-taxes-1934-2015/

“Human people” pay 80% of the $3.18 trillion Federal Tax Revenue.
“Corporate people” pay 11%.
Can you wonder why there are such tremendous gaps in INEQUALITY ?

US corporate income taxes 1934-2015 https://rwer.wordpress.com/2016/04/09/us-corporate-income-taxes-1934-2015/
April 9, 2016 David F. Ruccio
Corporate income taxes represent a small percentage of total federal tax revenue (at 11 percent) and they’ve been declining for a long time (since the 1940s).

ind_and_corpo_tax_line_chart,_enacted_2015

revenue_pie,__2015_enacted

Capitalism demands inequality.
It is the size of the gaps where the administration of inequality becomes distorted.
If capitalism is for the betterment of all the members of the community instead of just a small percentage;there should be smaller gaps between percentiles. But most important would be that the bottom 10%ers would have a living standard based upon 10% of the wealth. This is not a production problem, this is a distribution problem.

RE: Taxation, any taxation.

A Monetary Sovereignty doesn’t need taxation to spend.
For that matter, taxation can only occur after currency is in circulation.
Taxation is the ways and means by which a Monetary Sovereignty recaptures
currency already in circulation. Currency that it can redistribute without changing the quality or quantity of the entire currency.
A Monetary Sovereignty should tax all circulating currency, the question is; fairness and justice !

For individuals- – -“Inequality and Poverty Reduction Adjustment Program”
For corporations–“Human Rights and Justice Adjustment Program”

A Fair Capitalistic “Inequality and Poverty Reduction Adjustment Program”

The Federal Personal Income Tax:
A ONE PAGE FORM.
“Inequality and Poverty Reduction Adjustment Program”
ALL income is taxable and must be reported
Income up to $75,000 will be taxed at a rate of ………………………….ZERO %.
JOINT Income up to $150K………………………………………………………ZERO%
Income from $75,001 to $150,000 will be tax at a rate of……………..10%
Income from $150,001 to$500,000 will be taxed at a rate of…………20%
Income from 500,001 up to any amount will be taxed at a rate of …30%
NO exemptions. Tax must be paid, any claim of injustice
may be filed for a proportional refund.

The ZERO taxed will receive a 6% distribution to replace their loss caused by sales taxes
which are a detriment to their ‘standard of living’.
All will be entitled to free Medicare with a 20% copay.
The ZERO and 10% taxed will have a ZERO copay for the first $20,000 of Medicare billing.
The ZERO and 10% taxed will receive a ‘take home pay increase in the amount of 15%.
This is at ZERO cost to production because it will be the 15% F.I.C.A. that was withheld from them; now going into their take home pay.

US corporate Profit income taxes;
A Fair Capitalistic “Human Rights and Justice Adjustment Program”
A ONE PAGE FORM:
All profit up to 6%…………………………………ZERO TAX RATE
Profit from 6.01%…..up to 15%……………..20%
Profit from 20.01……up to 50%…………….40%
Profit over 50%…………………………………….60%

But, How would we pay for these program ?

No matter what the amount is, It can be paid for “by raising money from “somewhere else”
You will hear that this plan will increase the standard of living, will increase jobs, but there

could, maybe,perhaps, be a loss of revenue versus the present income revenue stream..

Please ask “The Tax Foundation”,” What would be the increase/ decrease?

SOLUTION.
Capitalism is the “best” system to date devised by mankind. When capitalism uses its Honest Central Bank properly,that is for the betterment of the common good, with equality and justice for all, capitalism would be one of the “greatest” achievement of mankind.

Inequality and human rights:TAXATION. The Capitalistic wealth distribution system.

A PLAN TO REDUCE THE GAPS OF INEQUALITY, ELEVATE THE STANDARD OF LIVING, AND … “to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity,…”
https://rwer.wordpress.com/2016/04/09/us-corporate-income-taxes-1934-2015/

Quote,”US corporate income taxes 1934-2015
https://rwer.wordpress.com/2016/04/09/us-corporate-income-taxes-1934-2015/
April 9, 2016 David F. Ruccio

Capitalism demands inequality.
It is the size of the gaps where the administration of inequality becomes distorted.
If capitalism is for the betterment of all the members of the community instead of just a small percentage;there should be smaller gaps between percentiles. But most important would be that the bottom 10%ers would have a living standard based upon 10% of the wealth. This is not a production problem, this is a distribution problem.

RE: Taxation, any taxation.

A Monetary Sovereignty doesn’t need taxation in order to spend.
For that matter, taxation can only occur after currency is in circulation.
Taxation is the ways and means by which a Monetary Sovereignty recaptures
currency already in circulation. Currency that it can redistribute without changing the quality or quantity of the entire currency.
A Monetary Sovereignty should tax all circulating currency, the question is; fairness and justice !
For individuals- – -“Inequality and Poverty Reduction Adjustment Program”
For corporations–“Human Rights and Justice Adjustment Program”

The Federal Personal Income Tax:
Needs to change to…A ONE PAGE FORM.

“Inequality and Poverty Reduction Adjustment Program”

******************************************************************.
ALL income is taxable and must be reported
Income up to $75,000 will be taxed at a rate of ………………………….ZERO %.
JOINT Income up to $150K………………………………………………………ZERO%
Income from $75,001 to $150,000 will be tax at a rate of……………..10%
Income from $150,001 to$500,000 will be taxed at a rate of…………20%
Income from 500,001 up to any amount will be taxed at a rate of …30%
NO exemptions. Tax must be paid, any claim of injustice or unfairness
may be filed for a proportional refund.

The ZERO taxed will receive a 6% distribution to replace their loss caused by sales taxes which are a detriment to the ‘standard of living’.

All Taxpayers will be entitled to free Medicare with a 20% copay.
The ZERO and 10% taxed will have a ZERO copay for the first $20,000/annual Medicare billing.
All qualified VETERANS will have ZERO copay.

The ZERO and 10% taxed will receive a ‘take home pay increase in the amount of 15%.
This is at ZERO cost to production because it will be the 15% F.I.C.A. that was withheld from them; now going into their take home pay.

CORPORATION PLAN:

US Corporate Profit Income Taxes;
A Fair Capitalistic “Human Rights and Justice Adjustment Program”
A ONE PAGE FORM:
All profit up to 6%…………………………………ZERO TAX RATE
Profit from 6.01%…..up to 15%……………..20% tax rate.
Profit from 20.01……up to 50%…………….40% tax rate.
Profit over 50%…………………………………….50% tax rate.

But, How would we pay for these program ?

No matter what the amount is, It can be paid for “by raising money from “somewhere else”
You will hear that this plan will increase the standard of living, will increase jobs, but there

could, maybe,perhaps, be a loss of revenue versus the present income revenue stream..

Please ask “The Tax Foundation”,” What would be the increase/ decrease?

SOLUTION.
Capitalism is the “best” system to date devised by mankind. When capitalism uses its Honest Central Bank properly,that is for the betterment of the common good, with equality and justice for all, capitalism would be one of the “greatest” achievement of mankind.

No matter what the amount is, It can be paid for “by raising money from “somewhere else”.
TAXATION IS TAXATION, surely you are aware of the fact anything CAN be taxed. It would only change how the revenue stream
is acquired while controlling the quality and quantity of the money.

Next step: Increase Social Security benefits and Increase Medicare !
How do you pay for it ? Simple. Increase in change how the revenue stream
is acquired.
Read more:
http://bit.ly/MlQWNs
THE K.I.S. SOLUTION TO DECREASE INEQUALITY GAPS, POVERTY, and NATIONAL DEBT.
ONE SENTENCE -A CAPITALISTIC ECONOMY WITH A HONEST CENTRAL BANK.

AN HONEST CENTRAL BANK (GUARDIAN) THAT BORROWERS MONEY FROM ITS LAWFUL OWNERS, LENDS IT AND CHARGES INTEREST (TAX) TO SECURE AN INCOME STREAM TO TURN OVER TO CONGRESS TO USE FOR THE BETTERMENT OF ALL.

Quote,”US corporate income taxes 1934-2015
https://rwer.wordpress.com/2016/04/09/us-corporate-income-taxes-1934-2015/
April 9, 2016 David F. Ruccio

Corporate income taxes represent a small percentage of total federal tax revenue (at 11 percent) and they’ve been declining for a long time (since the 1940s).
ind_and_corpo_tax_line_chart,_enacted_2015
revenue_pie,__2015_enacted

QUOTE, “Inequality and human rights.

https://rwer.wordpress.com/2016/04/05/inequality-and-human-rights/

April 5, 2016David F. Ruccio

We all know that economic inequality has reached grotesque, even obscene, levels around the world. And the gap between a tiny group at the top and everyone else continues to grow.

But is inequality a human rights concern?

As Ignacio Saiz and Gaby Oré Aguilar [ht: ms] explain, the ongoing debates about inequality

have rarely made reference to human rights. In turn, the human rights community has paid very little attention to economic inequality. While inequality on grounds such as gender, race and disability have long been core human rights concerns, gross inequalities in economic status remain largely unchallenged by human rights law and advocacy.

The question then is, is it possible or even desirable to make inequality a central concern of the global human-rights movement?

UDHR

The problem is that human rights have mostly been articulated in terms of individual rights—such as in the “right to life, liberty, and security of person” (as in the 1948 Universal Declaration of Human Rights). And inequality raises a very different set of questions, not about individual rights but about economic and social relations, about the relationshop between smaller and larger groups of people within society. Ultimately, growing inequality challenges the idea of “just deserts” and raises the prospect that one small group on top is “ripping off” everyone else, who are forced to have the freedom to continue to work for their benefit.

That’s what Samuel Moyn is getting at when he argues that “even perfectly realized human rights are compatible with radical inequality.”

The assertion of human rights in the 1940s began as one version of the update to the entitlements of citizenship on whose desirability and necessity almost everyone agreed after depression and war. Franklin Roosevelt issued his famous call for a “second bill of rights” that included socioeconomic protections in his State of the Union address the year before his death. But in promising “freedom from want” and envisioning it “everywhere in the world,” Roosevelt in fact understated the actually egalitarian aspirations that every version of welfarism proclaimed. These went far beyond a low bar against indigence so as to guarantee a more equal society than before (or since). His highest promise, in his speech, was not a floor of protection for the masses but the end of “special privilege for the few”—a ceiling on inequality.

But the harmony of ideals between the campaign against abjection and the demand for equality succeeded only nationally, and in mostly North Atlantic states, and then only partially. Whatever success occurred on both fronts thus came with sharp limitations—and especially the geographical modesty that the human rights idiom has since successfully transcended. It is, indeed, as if globalization of the norms of basic protection were a kind of reward for the relinquishment of the imperative of local equality.

Even the decolonization of the world, though unforeseen at the time of the Universal Declaration that accommodated itself to the empires of the day, hardly changed this relationship, since the new states themselves adopted the national welfarist resolve. The burning question was what would happen after, especially in the face of the inability of the global south to transplant national welfarism and the wealth gap that endures to this day between two sorts of countries: rich and poor.

The fact is, while the gap between countries has decreased somewhat (at least in terms of national income per capita), the gap within countries (especially within the North) has been growing—and the human-rights movement has mostly been “a helpless bystander of market fundamentalism.”

Philip Alston offers a very different view:

the human rights community needs to address directly the extent to which extreme inequality undermines human rights. One starting point is to clearly recognize that there are limits to the degree of inequality that can be reconciled with notions of equality, dignity and commitments to human rights for everyone. Governments should formally commit to policies explicitly designed to eliminate extreme inequality. Economic and social rights must become an integral part of human rights programs. A concerted campaign to ensure that every state has a social protection floor in place would signal a transformation in this regard. That concept—initially elaborated by the International Labour Organization, subsequently endorsed by the UN and now even by the World Bank—draws upon the experience of a range of countries around the world that have successfully tackled poverty in terms of programs with universal coverage, formulated in terms of human rights and of domestic legal entitlements.

But, in all honesty, the challenge facing the human-rights movement is to pick up where Alston stops. He leaves us with the idea of a “social protection floor,” which is pretty much where we were at when Franklin Delano Roosevelt presented his “second bill of rights” in 1944.

The real obstacle is to make sense of the conditions and consequences of the social “ripping-off” that serves as the basis of the extreme and growing levels of inequality we are witnessing today. The human-rights community has succeeded in making it obvious that we need to eradicate traditional forms of slavery as a violation of fundamental human rights.

As I see it, the human-rights movement now needs to confront the modern problem of class exploitation based on the continued existence of wage-slavery.

The National Debt: A THING OF BEAUTY.

The National Debt: A THING OF BEAUTY.

When a Monetary Sovereignty spends more money than that which it has taken out of its own currency circulation: it must “borrow” (as per US Constitution). This creates the debt of the entire sovereignty,that debt being in that currency.When a Monetary Sovereignty has a debt in its own currency that debt is a deposit in its Central Bank. The owner of the “Debt Deposit” may withdraw upon demand; however the owner then loses the protections and safety of the credit of the sovereignty.
Why is there a problem?
SO where did we go wrong ?
“Its the INTEREST, stupid.”

A deficit that grows exponentially MUST over time destroy the quality and quantity of the currency.Period. MMTers ignore this fact, this fatal flaw. With no additional spending, while asleep at the wheel the present debt will go from $19trillion to $38trillion, then to $76trillion, to $142trillion…maybe then, perhaps your great-grand children will ask,
“What were you thinking?”
MMTers are correct that the debt NEED NOT be paid, but we must FIRST correct the fatal “exponential flaw.” READ: National Debt becomes money deposited in the Central Bank as US TREASURY BEARER BONDS at 0% Interest (USTBB) need only be paid on demand by each holder.

“To those who “own” the debt (80% is owned by the top 10%ers), it is really just a very safe savings account, identical to a bank CD but totally safe.”

EXACTLY, why China will not convert its $3.5trillion and be happy with USTBB – and we will no longer have to give them @ $200billion of new money. And would the 10%ers allow the commercial banks to hold their lifetime saving, knowing that they will be subject to risk,fraud and whatever the banks could monetize?

That is fine ZIRP forever. Stop paying interest on bank reserves, and stop issuing Treasury bills and bonds with interest payments attached.
Issue USTBB, allow the holders the safety of the American Dollar being held for them until they seek redemption.

Then proceed to pay off the entire Federal Debt?
AN ASSET SWAP:
***The ease with which the government’s debt could be paid in this way was demonstrated in January 2004****
As the chairman of the Coinage Subcommittee observed in the 1980s, the entire federal debt could actually be paid in this way. The Federal Reserve has already established that it can issue $4.5 trillion in accounting-entry QE without triggering hyperinflation. In fact, it has not succeeded in triggering the modest inflation the exercise was designed for. As with QE, paying the federal debt in this way would just be an asset swap, replacing an interest-bearing obligation with a non-interest-bearing one.(” A better aset swap would be “US TREASURY BEARER BONDS” (USTBB)!!!!! The market for goods and services would not be flooded with “new” money that would inflate the prices of consumer goods, because the bond holders would not consider themselves any richer than before. They presumably had their money in bonds in the first place because they wanted to save it rather than spend it. They would no doubt continue to save it,…(surely they would realize safety versus risk concerns.)

The ease with which the government’s debt could be paid in this way was demonstrated in January 2004, when the US Treasury called a 30-year bond issue before its due date. The bonds were redeemed “at par” to avoid a 9-1/8% interest rate, which was then well above market rates. The Treasury’s January 15, 2004 announcement said that payment would be made “in book entry form,” meaning numbers were simply entered into the Treasury’s online money market fund (Treasury Direct). In effect, the money just moved from an online savings account to an online depository account, converting interest-bearing bonds into non-interest-bearing cash.
Where did the Treasury get the money to refinance this $3 billion bond issue at a lower interest rate? Whether it came from the private banking system or from the Federal Reserve, it was no doubt created out of thin air. As Federal Reserve Board Chairman Marriner Eccles testified before the House Banking and Currency Committee in 1935:
When the banks buy a billion dollars of Government bonds as they are offered . . . they actually create, by a bookkeeping entry, a billion dollars.
The US government can just as easily create this money by a bookkeeping entry itself. It can and it should, to avoid the interest charges that compound the national debt and make it unrepayable.

BUT,YOU NEED NOT STOP THERE- CREATE US TREASURY BEARER BONDS: YOU MAY NEVER,
yes, NEVER HAVE TO PRINT ALL THE MONEY !!!!

Quote Thomas Edison, “…Whereas the currency, the honest sort provided by the Constitution pays nobody…” But the owners of the debt that is now on deposit.

READ-CHALLENGE-ENDORSE:

THEN PUBLIC DEBT WOULD BE A GREAT THING-INDIVIDUALS LENDING TO THE COMMUNITY FOR THE BETTERMENT OF ALL.

https://justaluckyfool.wordpress.com/2016/01/17/debt-service-solution/

Where We Went Wrong: “In God We Trust”

“Where We Went Wrong-“In God We Trust”.

“Capitalism is the “best” system to date devised by mankind. As it is administrated, perhaps, is where the “flaw” is manifested. If capitalism used its Central Bank properly,that is for the betterment of the common good, with equality and justice for all, capitalism could be the greatest achievement of mankind.” “Where We Went Wrong-“In God We Trust”.

There exists in this world, this universe more wealth than mankind could possibly use. Man has been given dominion
over this wealth. Mankind can not create any wealth and must distribute that which already exists.
Wealth is SOMETHING of value.
ALL Wealth on earth and in the universe exists and is expanding.

“As the worlds population has gone up, the total amount of product available per capita…has gone up.
…exactly the opposite of what…predicted. Indeed, the correlation of increased population with increased
per capita product is so strong that any scientist examining these data would immediately suspect causality..
.(S)o the more people there are, the faster the rate of technological progress, which multiples product per capita,
and whose are cumulative.
So the more of us there are, the more there will be to go around.”(The Human Factor, Robert Zubrin…2015)

We now no longer believe “In God We Trust” as having created all wealth that is needed by mankind.
Yes, we have loss our TRUST In God; now We Trust In Man to create “wealth” from nothing.
” All smoke and mirrors.” All designed with ONE intention: ‘ To Hide The Issuers Alchemy ‘. It does not matter how the ‘money’ is coined, printed, or digitized – It is not wealth. When one understands this basic universal law, they will know of this deceit.”
Wealth is SOMETHING of value.
ALL Wealth on earth and in the universe exists and is expanding.

Money now is the NOTHING you get for SOMETHING (a created value)
before you can get ANYTHING (a created value).
Money is a receipt for SOMETHING (a value given up).
Money can not create ANYTHING (an exchangeable value).
“The Role Of Money”
Frederick Soddy,
“The Monetary System Impedes the Flow.
Since, in all monetary civilizations, it is money that alone
can effect the exchange of wealth and the continuous flow of goods and services
throughout the nation, money has become the life-blood of
the community, and for each individual a veritable licence to live at all.
The monetary system is the
distributory mechanism, and this reading of
history therefore supports up to the hilt the con-
clusions of those who have made a special study
of what our monetary system has become. It is
the primary and infinitely most important source
of all our present social and international unrest
and for the failure, hitherto, of democracy.

A very slight knowledge of our actual existing
monetary system makes it abundantly clear that,
without democracy knowing or allowing it, and
without the matter ever being before the electorate
even as a secondary or minor political issue, the
power of uttering money has been taken out of
national hands and usurped as a perquisite by
the moneylender. Practically every genuine
monetary reformer is unanimous that the only
hope of safety and peace lies in the nation
instantly resuming its prerogative over the issue
of all forms of money, which, legally, it has never
surrendered at all.”

So how is this, to most people not understood, that money is wealth while at the same time
money can not increase wealth, but merely store or exchange what has already been
given up. What is the “basic flaw” ?
Why is that flaw not understood ?
Soddy answered these questions, ““So elaborately has the real nature of this ridiculous proceeding been surrounded with confusion by some of the cleverest and most skillful advocates the world has ever known, that it still is something of a mystery to ordinary people, who hold their heads and confess they are ” unable to understand finance “. It is not intended that they should.”

As Frederick Soddy has stated as an axiom:
“**** THE THEORY OF MONEY. VIRTUAL
WEALTH….

“WHAT is Money ? Let us commence our
study of the role of money by a compre-
hensive definition of what modern money is.

Money now is the NOTHING you get for SOMETHING
before you can get ANYTHING.

Our task is to understand all that this implies.
The definition is, of course, an economic one
referring to ordinary transactions such as earning,
buying, and selling among ordinary folk generous
uncles and other voluntary benefactors not being
under contemplation and the nothing, something,
and anything of the definition refer to things of
real value in themselves, usually termed goods and
services, or simply wealth, unless hair-splitting
or purely technical distinctions turning on the
precise definition of wealth are involved. More-
over, it refers to ordinary people,
in the sense of those who neither have the opportunity nor the
power of uttering money themselves. ”

Nowhere is there a mandate to create wealth (money),
the “giving up of SOMETHING before you can get ANYTHING (money).”

Our forefathers understood what “In God We Trust” meant
An HONEST CENTRAL BANK can not, or shall not create wealth.
An honest Central Bank is the guardian of the wealth given up,
…the sole and only entity that may issue receipts on the community wealth,
…must operate with transparency,
…be held accountable.

“THEY” have used the same words to create different meanings!

“MONEY”as a receipt of wealth; “MONEY” as a creation of wealth “out of thin air”.

Nowhere is there a mandate to create wealth (money), the “giving up of SOMETHING
before you can get ANYTHING (money).” The Constitution allows Congress
…TO BORROW
…TO ‘Coin’
…TO punish counterfeiting.
This is clear in that borrowing,coining,or printing
is authorized of that which is already “wealth given up” and this is also clear
“other then that is ‘counterfeit.”

*** U.S. Constitution.
ARTICLE . 1. ..SECTION. 8.

“The Congress shall have Power …
(A).
To borrow Money on the credit of the United States;

(B).
To coin Money, regulate the Value thereof, and of foreign
Coin, and fix the Standard of Weights and Measures;

The Congress shall have Power …
(C).
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;…”

SODDY, “Let us right from the start get the signs right.
The owner of money is the creditor and the issuer of it is the debtor, for the owner of money gives
up goods and services to the issuer. In an honest
money system the issuer of money who gets
for nothing goods and services would do so on
trust for the benefit of the community. In
a fraudulent money system he does so for the
benefit of himself. It makes no difference whether
he passes off the money and puts it into circulation
himself or lends it at interest for others to pass off
for him. In every case what he so gets to spend or
lend is given up by someone else. Ex nihilo nihil
fit. Nothing comes from nothing..
“Capitalism is the “best” system to date devised by mankind. As it is administrated, perhaps, is where the “flaw” is manifested. If capitalism used its Central Bank properly,that is for the betterment of the common good, with equality and justice for all, capitalism could be the greatest achievement of mankind.

THE K.I.S. SOLUTION TO DECREASE INEQUALITY GAPS, POVERTY, and NATIONAL DEBT.
ONE SENTENCE -A CAPITALISTIC ECONOMY WITH A HONEST CENTRAL BANK.

AN HONEST CENTRAL BANK (GUARDIAN) THAT BORROWERS MONEY FROM ITS LAWFUL OWNERS, LENDS IT AND CHARGES INTEREST (TAX) TO SECURE AN INCOME STREAM TO TURN OVER TO CONGRESS TO USE FOR THE BETTERMENT OF ALL.
READ MORE: http://bit.ly/MlQWNs

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