Sunday, November 17, 2013
More Conspiracy Theory
Absolutely shocking video below from a person I don't even know how to describe other than he is some sort of moron libertarian conspiracy theorist who thinks somehow it is "the Jews" instead of "neo-liberals" who are ruining our economy.
He equates the "Wall Street" with "the Jews", and recommends a military coup to gather up all of the gold (metal-love right on cue) in the country and establish a new "restored" US dollar under gold.
Rickards shows up here (in an absolutely shocking display of metal-loving hubris) and so does the former Chairman of the JCS who thinks the greatest threat to US national security is "our debt" for crying out loud.
I put anyone who thinks our problems are based on some sort of "neo-liberal" conspiracy or "Wall Street" fraud in the same boat as this guy; one "conspiracy" or another take your pick as far as I am concerned.
"Neo-liberals", "the bankers", "Wall Street", "the Jews", "capitalists", whoever take your pick of whatever "conspiracy" you like; you're in the same boat as this guy.
Our problem is a cognitive one, a problem of a lack of "knowledge" that WE have and THEY do not.
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22 comments:
"why are you posting videos of mentally ill people talking to themselves?"
Are they talking to themselves? Look how many followers does Peter Schiff have.
Wishful thinking y,
He in not talking to himself his videos there on youtube have more views than any MMT videos total of all time I'm sure...
And Rickards there was talking to an audience of high ranking technical people in the military establishment at the Applied Physics Laboratory back in 2010 at this conference:
http://www.youtube.com/watch?v=D5B9Bv_P5-0
Here is this morons recent one on the "TPP" where he refers to the Bill Moyers video where Yves Smith analysis is featured that we've also linked to:
http://www.youtube.com/watch?v=KtBJwQRSooI
Over 17,000 views!
Take out "Jews" and put in "neo-liberal" and you get the mainstream left's same diagnosis of our problem... both wrong imo...
rsp,
Quite a brilliant expose.
Libertarians, inspired by the Jewish Von Mises, Murray Rothbard, David Friedman and Walter Block etc.. are actually anti-Jewish, and the fierce opposition of these Jewish writers and libertarians to tariffs is actually evidence of a plan to impose tariffs.
This post is up to your usual high standards for fact and logic.
Thanks for the heads-up.
Here is the wingnut http://rationalwiki.org/wiki/Brother_Nathanael_Kapner
Oh how about Gary North then Bob..runs in ancap circles.
Bob,
My point is over your head...
This moron makes the same form of argument as many others do who remain outside of the knowledge of MMT... ie all of our economic problems are a result of a "conspiracy" conducted by "group x"....
Like you think it is all because of some "Keynesianism conspiracy" of some sort... this is at least borderline paranoid...
We have a major problem with cognition in this area, let's keep the 'conspiracy theories' out of it and try to focus on this cognitive issue...
WE have knowledge that most others do not... how do we get this knowledge to the others? How do we get this knowledge to become the popular perception???
Epic Troll is Epic.
I actually think there is a "conspiracy" of sorts in that the elite does not want average people to understand that the government creates funny money out of nothing. The whole point of the system is to allow the elite to steal purchasing power from the masses and they like it that way. Apparently, the aversion to examine this has always bothered Stephanie Kelton. However, I fail to see why this is such a mystery.
Further, Austrians understand exactly as MMTers do how the various squirtings and shiftings of funny money occur. Your efforts fail because it is absurd for you to conclude from an observation of those squirtings that you have solved the problem of scarcity by "proper" use of these squirtings.
Also, we completely understand that the present monetary system allows the government to obtain the assets of society without taxation and with relatively little "constraint". You guys think that's great. We think it's monstrous and immoral because (among other reasons) the state will usually consist of people using the state for their own gain. You guys seem to think that (somehow) your friends will be running it for the good of all. They won't be.
MMT doesn't claim to solve the problem of scarcity of real resources if there is genuinely no way to overcome it. But the question is to what extent the scarcity of resources is actually real. For example, is it possible to produce enough food so that every human can be properly fed? Yes or no?
y,
I think so.
We have no idea what we are capable of if we can ever again get the correct view of how a state currency system is supposed to operate...
Look at this picture of this building in the Phillipines that survived the recent hell-storm that hit there where a lot of people are taking refuge:
http://www.huffingtonpost.com/2013/11/14/tacloban-astrodome-refuge_n_4275576.html
Why do they have just one building like this right in the hurricane zone and all the other housing is tin shacks that are not built for survivability?
Ask them and they will say: "we can't afford it!" as "we are out of money!"
this ignorance affects many areas of life not just agriculture/food production...
rsp,
"Single-variable economics."
This Rickards guy may be a bit of a weirdo and an anachronism, but he is not alone in believing that kind of shit.
John M. Keynes on the Russian Revolution:
"The mood of oppression could not be better conveyed. In part, no doubt, it is the fruit of Red Revolution-there is much in Russia to make one pray that one's own country may achieve its goal not in that way. In part, perhaps, it is the fruit of some beastliness in the Russian nature-or in the Russian and Jewish natures when, as now, they are allied together." (Part iv. Politics. "A Short View of Russia", 1925. "Essays in Persuasion". London Macmillan. 1931)
Keynes was in "good" company in his denunciation of the Jewish-Red "threat":
"There is no need to exaggerate the part played in the creation of Bolshevism and in the actual bringing about of the Russian Revolution, by these international and for the most part atheistical Jews, it is certainly a very great one; it probably outweighs all others. With the notable exception of Lenin, the majority of the leading figures are Jews." (Winston Churchill in "Zionism versus Bolshevism", Illustrated Sunday Herald, February 1920)
"One may dislike Hitler's system and yet admire his patriotic achievement. If our country were defeated, I hope we should find a champion as indomitable to restore our courage and lead us back to our place among the nations." (Churchill, "Hitler and His Choice", The Strand Magazine, November 1935).
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Others distinguished between Bolsheviks and Jews:
"Respected" Columbia University School of Journalism dean, Carl W. Ackerman, published (1919) a version of the Protocols of the Elders of Zion in his newspaper Public Ledger: "But all references to 'Jews' were replaced with references to Bolsheviki as an exposé"
http://en.wikipedia.org/wiki/The_Protocols_of_the_Elders_of_Zion
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The devil made me write this.
Make of those quotes what you will.
Ressentiment
Bob, you are stating that Austrians understand like MMTesrs the monetary system.
That is not so
Here is Murphy:
"According to Paul Krugman, Murphy "has been predicting double-digit inflation for years but remains absolutely committed to his framework" despite the predictions being unfulfilled.[2]
In 2009, Murphy discussed various economic policies of the Bush and Obama administrations, which he called "incredible assaults on the private sector from the central government". He stated that the policies of Federal Reserve chairman Ben Bernanke and President Obama would lead to double-digit inflation with high unemployment and could facilitate the abandonment of the US Dollar by the end of the Obama Presidency. Murphy warned that soaring prices for gasoline and imported products sold at Wal-Mart might be blamed by Obama Administration officials on "an attack on the Dollar by foreign speculators" and used by them to replace the Dollar with the Amero or some other currency "issued by a supranational organization". Murphy urged investors to purchase an "emergency stockpile" of physical gold and silver, and predicted double-digit inflation."
He thought like Peter Schiff and all these other Austrians that pumping reserves causes inflation. The latest I've heard from Austrians is that It is not causing inflation now because banks are not lending those reserves out. You Bob understand error in their thinking because you have been educated by MMT. If not then please give me link to Austrian literature where the author says that banks don't lend out reserves. I know you Bob are Rothbardian. Rothbard talked about fractional reserve banking, again Bob you are smarter than your teacher thanks to MMT because we don't have fractional reserve banking the way Rothbard described It. It just amazes me that you have beef with MMT after gaining valuable knowledge from It and you are not upset with your masters who tought you nonsense about our monetary system. Hayek: capital is going to get more expensive if government deficit spends and that's a problem. What do think about the impression of yourself after this?
Where the funny money goes is where the “inflation” is going to appear and is a matter of predicting policy. In 2009, I assumed it would go to pump up collapsed asset prices. Others could not believe that the public would sit still without the Fed trying to pump up housing and consumer demand. Those people, including Murphy, predicted higher CPI in the short run.
Finding that the funny money injections went into areas other than the CPI is Rothbard’s classic analysis of the Great Depression. A missed call on where the funny money was going to go is nothing more than a mistake in predicting policy.
http://www.economicpolicyjournal.com/2013/11/wheres-inflation-dr-mark-thornton-will.html
The money goes where the government spends it iaw appropriations. The Fed does put money into the economy. It sets the interest rate and provides liquidity to the payments system.
"Where the funny money goes is where the “inflation” is going to appear "
Facts not in evidence Bob.
The govt has been spending over 4T per year for the last 5 years and we have had no appreciable inflation.
Its not to what the govt spending goes to we see inflation IF the govt spending is matched with an increase in bank credit at the same time.
Bank credit has not increased in the same 5 years.
For inflation, the govt and the non-govt have to start competing for the same provision with govt using appropriations and the non-govt using bank credit to iteratively bid up the price of the common provision both sectors are seeking simultaneously.
What has been typical in the evidence is you get some sort of increase in govt spending FIRST (war, etc..) and this leads to higher non-govt incomes which the non-govt 'takes to the bank' and then the banks grant addtional credit against these now increased non-govt incomes...
We have been drifting DOWN from a peak of about 4.5b govt spending in 2009 to about 4.2b govt spending in 2013 so this is flat to down and accordingly, so has been bank credit.... and prices remain tame to down...
Matt - Why do you call that weird guy in the video a libertarian?
A Yiddishe Medina
By Israel Shamir
http://www.israelshamir.net/English/Medina.htm
Robert Rubin
Larry Summers
Alan Greenspan
Ben Bernanke
Peter Orszag
David Axelrod
Paul Wolfowitz
Rahm Emanuel
Ezekiel Emanuel
Douglas Shulman
Thomas Frieden
Richard Haass
Lloyd Blankfein
Ken Feinberg
Cass Sunstein
Daniel Fried
Steven Rattner
Alan Bersin
Todd Stern
Carol Browner
Gary Gensler
Elena Kagan
Ron Klain
Eric Lander
Jacob Lew and
James Steinberg
Ellen Moran
Mary Schapiro
Sheila Bair
Mona Sutphen
Donald Kohn
Richard Holbrooke
Jon Leibowitz
Julius Genachowski
Dr. Margaret Hamburg
Henry Kissinger
Paul Wolfowitz
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