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Ben Bernanke ,Noble Prize for Economics. QE proven.

December 16, 2012
Please, share a million times over again and again. Why would you not want prosperity, freedom,and equality for yourselves and your children? Justaluckyfool: http://bit.ly/MlQWNs

“There are much better ways to stimulate the economy, but the Fed is only interested in maintaining the status quo for its owners”

If in fact Quantitative Easing (QE) were used “to stimulate the economy”, it could well be one of the best known ways to stimulate the economy. Also if it were used for the common bettering of the people rather than for the benefit of “private for profit banks” (PFPB), Ben Bernanke should receive the Noble Prize for Economic.
As Fed chair he has proven that QE can be used to “print” unlimited amounts of currency and at the same time have quality and quantity control. Completely taking away the danger of uncontrolled inflation thereby; leaving the only danger “moral hazard” needing to be addressed and perhaps that could be done with full ,immediate, open disclosure.

Ben Bernanke should receive the Noble Prize in Economics.

Ben Bernanke has proven MMT.
A Monetary Sovereignty can not run out of money for purchases of assets.
Solid proof; QE 4-for as long as needed  and in whatever amount desired!!
BUT justaluckyfool asks
.” WHY NOT do it for the people ?
Stop doing it solely to benefit the “Private For Profit Banks” (PFPB).
Justa example: Purchase all residential real estate loans and modify them at 2% for 36 years. This would allow for stabilization of the housing and construction sectors, increase jobs and the bettering of all citizens. And at the same time raise revenue, lower taxes, and fund “for the general welfare. A simple solution; if $100 trillion is needed ,what happens ? all that it does is take away from the PFPB a revenue of $5.5 trillion a year and turns into into Income for the US Treasury.
But , who is man enough to “free the servitude of the people” as it is the right of the people as stated in the 13th amendment.
Section 1. Neither slavery nor involuntary servitude, … shall exist within the United States, or any place subject to their jurisdiction.”
May Ben Bernanke see this moment in history, and surely President Obama could place himself next to Lincoln in history. As Lincoln freed the slaves, Obama can free all the people from servitude.
 “
… (A)fter 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),
“Justaluckyfool” http://www.justaluckyfool.wordpress.com

  *****Perfect Tax System*****
L R WRAY, William Black, and Michael Hudson, please challenge as it is your opinions as they are interpreted by me to reach these conclusions.
*
,…
***Finally. On the perfect tax system. What should we tax?
Please, allow a fool to submit an answer.
TAX the sovereign money when it is initially issued.
Sovereign Currency  issued as a loan with compound interest attached has an unfulfillable eternal demand.

*** On the perfect tax system. What should we tax?
Please, allow a fool to submit an answer.
TAX the sovereign money when it is initially issued.
What better method is there to control inflation? Increase the initial rate?
Deflation; lower the initial rate?

TAX the sovereign money when it is initially issued.
That simply goes into a double taxation situation depending what self imposed legislation deem what offenses should be burdened with such a “fine” (tax).
All of this is done without doubling the total wealth of the Sovereignty nor does it change the value of its goods and services which are the “guaranteed redemption”
HELP!
Where does it go wrong. Why do you not wish an end to unjust federal income taxes and prosperity
for yourselves and your children.
All within the bounds of MMT: unlimited issuance, inflation and deflation control, redistribution for equality ?
Is there a “more perfect ways and means to form a more perfect union…?
I await all profound answers-please help a fool to understand, why or why not ?

Where Did I Go Wrong?
Perhaps, “We” are mankind. And , “**** “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), Hindu Prince, founder of Buddhism
*****Where did I go wrong ?
Justaluckyfool comments are based on the following  ideas :
A Monetary Sovereignty is any sovereign society that issues its own legal currency.
A. A Monetary Sovereignty can issue unlimited amounts of its own sovereign currency;however, it must safeguard against hyperinflation.
B. A Monetary Sovereignty must be the sole issuer of its sovereign currency.
With just these two truths, we can discover “Where we went wrong” and “How we can fix it”.
These truths hold firm regardless of the form of governance, whether good or evil.
We should be thankful that the US Constitution guides us toward the common bettering of man.
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,…”
So, being able as a Monetary Sovereign Nation to fund such an endeavor, we should ask ,
“Where did we go wrong-and fix it.” ?
Did we legislate ourselves away from being Mon. Sovereign by allowing “private for profit banks” to issue our currency and to make their issue as good as “the full faith and credit ” of our nation?
Surely all are aware that we have placed a self-imposed legislation upon a limit to the amount we may print for purposes of spending (Debt Ceiling). How we legislated an allowance for hyperinflation by allowing “private for profit banks”( PFPB),. They have  proven they are a moral hazard, that could become too big to fail which is to say if they fail they will cause “systemic failure”.
Did we fail to heed the warnings of Keynes, Minsky, Desoto, and most of all Frederick Soddy (“The Role of Money” 1926,1933) and others calling for the separation , the taking away of  government privileges of the PFPB.
Where did we go wrong?
Did Ben Bernanke let the cat out of the bag with QE 3 a/k/a QE Infinity?
Proving we can “print” (issue) unlimited amounts of money with control for its quality and quantity
over time.(Which may be a reason for receiving a Noble Prize)  BUT this was done for the benefit of the TBTF, PFPB, not for the betterment of the people.
QE 3 purchases the MBSs , that which bailout the banks, helps the TBTF, PFPB, to profit.
As Churchill stated ,”Why do the Americans have to get it wrong first, and then correct it”
Why not purchase the mortgages, modify them, stabilize the housing sector, create millions of jobs
and at the same time RAISE TAXATION (REVENUE) for the people. If $100 trillion at 2% for 36 years, that would produce $5.5 trillion per year income ” 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,…” while at the same time reduce federal income taxes to zero and FICA to zero.
As Einstein said, “Keep it simple” COLLECT INTEREST INSTEAD OF INCOME TAXES!
“Justaluckyfool”
*The power of QE
Joe Firestone,”it will be clear to people that the US can never run out of the currency…”

Justaluckyfool,”This message seems to be gaining ground and may become a known fact.
Even the Fed has officially proclaimed “limitless issue”
(Google-“Can Fed Run Out of Money?”)

currency it alone can issue…”

Justaluckyfool, “Here is where we may have a difference of opinion. The Private for Profit Banks (PFPB) now play a gigantic role in not only creating money but also doing it it such a manner that it could create a financial Armageddon – a ” systemic failure”.
This may even be considered a self imposed by legislation the giving away the right to “currency it (the Monetary Sovereignty) alone can issue. Thereby creating a hazard that could destroy the value of that currency. That is ” credit expansion by ‘fictitious lending'”, as per Frederick Soddy (The Role Of Money).

The Trillion Dollar Coin proposal for solving the debt ceiling problem..”
Justaluckyfool,”Because the “debt ceiling ” is not a problem. This self imposed restriction is either changed at will or ignored. The Fed has PROVEN that by Quantitative Easing (QE)  it can issue $100’s of trillions that are not counted as deficit spending, and rightfully so,since an asset purchase is just that -an asset. (Google: Fed LIST of name and amount $16 trillion to banks)
However I would love to see two $100 trillion coins minted and placed on display; one next to the US Constitution, the other next to the Liberty Bell, after they are electronically deposited.

Justaluckyfool wishes to ask the question ,
What if…
 Change the beneficiary of QE from that of for the 1% to the benefiting of the100%.
Instead of profits for the PFPB;  revenue raised for the common bettering of all.& t
.
one

As Einstein said, “Keep It Simple”.
Cut federal income taxes to zero. Pay off the budget deficit at $1 trillion per year and have $4.5 trillion to spend each year for the next 36 years.
All this can be done without any new legislation.
The Federal Reserve Bank already has the ways and means. Almost all economist agree that the Feds can purchase an unlimited amount of assets it needs , and at no increase in deficit spending.
****”QE 4 Bank Solvency” $100 trillion- one of two:
The Federal Reserve Bank can mandate a change in reserve requirements for all private for-profit banks, that is from the present 10% to 100%. To fulfill this mandate and to prevent a collapse of the financial system it would make $100 trillion available as Loans to the industry with a rate of 2% for 36 years.
As law ,”All profits from the Federal Reserve Bank are to  go to the US Treasury”.
That means a REVENUE STREAM OF $5.5 TRILLION OVER THE NEXT 36 YEARS.
*****QE 4 Residential and Commercial Real Estate Loans” $100 trillion- two of two.
The Federal Reserve Bank can purchase all residential and commercial real estate loans by making up to $100 trillion available. Modify all the loans with a new assumable mortgage with a rate of 2% for a term of 36 years. Thereby making all loans affordable, stopping foreclosure and stabilizing the construction sector. This means a REVENUE STREAM OF $5.5 TRILLION OVER THE NEXT 36 YEARS.
RESULT: $11 trillion per year “revenue raised instead of federal income taxes”

Google: Justaluckyfool who asks,”Why would you not want prosperity for your self and your children.”?

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