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Friday, December 7, 2012
Rodger Malcolm Mitchell — Revealing the conspiracy: A recommendation for followers of MMT and Monetary Sovereignty
Morons perhaps, but they are organized morons. The difference between organized and unorganized > the difference in levels of intelligence or knowledge.
I think that the truth probably lies somewhere in between morons and conscious conspirators. I think that some people likely know better and are being disingenuous or remaining silent either for advantage or not to rock the boat. But I suspect that most are probably justs ignorant. Ignorance is no excuse but there is culpable and non-culpable ignorance. Those with a professional obligation to inform themselves are most likely culpably ignorant.
There is also indifference. A lot of people probably don't want to know because it doesn't directly concern them and knowing would just complicate their lives. See Ellie Wiesel, The Perils of Indifference. While the Holocaust was unique in history, it has many parallels in indifference.
I made this comment at RMM's site yesterday, and I think it's relelvant here…
Do you have any reason to think there’s actual discussion about this, like “Listen, we will only support you if you keep this myth alive…” Or do you think it’s more subtle and institutional: i.e. the .1% just don’t throw money at anyone that ever speaks of such a thing?
The latter perspective reminds me of an ol Noam Chomsky speech What Makes Mainstream Media Mainstream? (http://www.chomsky.info/articles/199710–.htm) where he talks about how the filters are institutionalized, i.e. you just don’t make it into positions of power and influence if you say the wrong thing. And that this “filtering process” occurs in grade school, through high school, and into the professional world: the people that don’t conform, get shut out of the system.
Tom I would go for that too, where I was suggesting be careful is in the wording of "conspiracy" like it or not due to the internet and conspiracy theories it would soon be compared to that.
If someone were trying to explain unfamiliar economic/monetary ideas to me and they opened with "conspiracy" I'd probably tune out whatever followed as tin-foil hattery.
The part that answers your question begins @ 2:12 but the whole video is worth watching. Bernard Leitaer is a genius, and I believe one of the fathers of the Euro, although he bailed when he saw it wouldn't work.
"If someone were trying to explain unfamiliar economic/monetary ideas to me and they opened with "conspiracy" I'd probably tune out whatever followed as tin-foil hattery." - geerussell
This may be true but do you think for one moment the prime movers of the banking system didn't know what they were doing?
One might if this very thing hadn't happened before many times over history by the same suspects. I can't chalk it up to stupidity as much as useful idiots.
Ignorance of the monetary system has been orchestrated by the rich donors to higher education.
It isn't so much conspiracy as pay-to-play. ie crony capitalism.
no one who actually understands central banking is ever hired at a senior position at a central bank
I'm not so sure about that.
Say Vitor Constancio, an economist who is now the Vice President of the ECB. His speeches are praised even by uncompromising observers such as L. Randall Wray.
Perhaps we could put it the other way around and say only economists who work at central banks get a chance to observe how the system works and maybe end up understanding at least some parts of it.
"only economists who work at central banks get a chance to observe how the system works and maybe end up understanding at least some parts of it." - Jose
This would require some level of curiosity. Curiosity killed the cat.
For the record, I disagree with this assertion of "conspiracy".
ReplyDeleteThey are morons.
"Save the hammer for 'the man'"...
rsp,
Morons perhaps, but they are organized morons. The difference between organized and unorganized > the difference in levels of intelligence or knowledge.
ReplyDeleteI am with Matt, followed this today and have to be very careful its sounding like some abovetopsecret nonsense.
ReplyDeleteI think that the truth probably lies somewhere in between morons and conscious conspirators. I think that some people likely know better and are being disingenuous or remaining silent either for advantage or not to rock the boat. But I suspect that most are probably justs ignorant. Ignorance is no excuse but there is culpable and non-culpable ignorance. Those with a professional obligation to inform themselves are most likely culpably ignorant.
ReplyDeleteThere is also indifference. A lot of people probably don't want to know because it doesn't directly concern them and knowing would just complicate their lives. See Ellie Wiesel, The Perils of Indifference. While the Holocaust was unique in history, it has many parallels in indifference.
I made this comment at RMM's site yesterday, and I think it's relelvant here…
ReplyDeleteDo you have any reason to think there’s actual discussion about this, like “Listen, we will only support you if you keep this myth alive…” Or do you think it’s more subtle and institutional: i.e. the .1% just don’t throw money at anyone that ever speaks of such a thing?
The latter perspective reminds me of an ol Noam Chomsky speech What Makes Mainstream Media Mainstream? (http://www.chomsky.info/articles/199710–.htm) where he talks about how the filters are institutionalized, i.e. you just don’t make it into positions of power and influence if you say the wrong thing. And that this “filtering process” occurs in grade school, through high school, and into the professional world: the people that don’t conform, get shut out of the system.
What do you think?
Tom I would go for that too, where I was suggesting be careful is in the wording of "conspiracy" like it or not due to the internet and conspiracy theories it would soon be compared to that.
ReplyDeleteWhat do you think?
ReplyDeleteMichael Hudson has said that no one who actually understands central banking is ever hired at a senior position at a central bank.
If someone were trying to explain unfamiliar economic/monetary ideas to me and they opened with "conspiracy" I'd probably tune out whatever followed as tin-foil hattery.
ReplyDelete"Do you have any reason to think there’s actual discussion about this, like “Listen, we will only support you if you keep this myth alive…” " - JK
ReplyDeleteJK, take a look at this video:
http://larspsyll.wordpress.com/2012/10/21/touch-the-monetary-system-and-youre-academically-dead/
The part that answers your question begins @ 2:12 but the whole video is worth watching. Bernard Leitaer is a genius, and I believe one of the fathers of the Euro, although he bailed when he saw it wouldn't work.
"If someone were trying to explain unfamiliar economic/monetary ideas to me and they opened with "conspiracy" I'd probably tune out whatever followed as tin-foil hattery." - geerussell
ReplyDeleteThis may be true but do you think for one moment the prime movers of the banking system didn't know what they were doing?
One might if this very thing hadn't happened before many times over history by the same suspects. I can't chalk it up to stupidity as much as useful idiots.
Ignorance of the monetary system has been orchestrated by the rich donors to higher education.
It isn't so much conspiracy as pay-to-play. ie crony capitalism.
Paul,
ReplyDeleteVery interesting. Thank you for the share.
Paul,
ReplyDelete"Bernard Leitaer is a genius, and I believe one of the fathers of the Euro,..."
???????
YOU are smarter than Leitaer.
rsp,
So that would be super genius?
ReplyDeleteMatt, I appreciate your confidence but I'm simply a curious sort. I'm motivated to understand how things work.
ReplyDelete"So that would be super genius?" - geerussell
ReplyDeleteThat's me alright…but I still have all of my digits.
no one who actually understands central banking is ever hired at a senior position at a central bank
ReplyDeleteI'm not so sure about that.
Say Vitor Constancio, an economist who is now the Vice President of the ECB. His speeches are praised even by uncompromising observers such as L. Randall Wray.
Perhaps we could put it the other way around and say only economists who work at central banks get a chance to observe how the system works and maybe end up understanding at least some parts of it.
"only economists who work at central banks get a chance to observe how the system works and maybe end up understanding at least some parts of it." - Jose
ReplyDeleteThis would require some level of curiosity. Curiosity killed the cat.