tag:blogger.com,1999:blog-2761684730989137546.post192268024755113102..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: 13 year old girl Victoria Grant explains Extreme Corruption the cause of Extreme Poverty Governmentsmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-72000271769844560412018-12-30T13:57:46.255-05:002018-12-30T13:57:46.255-05:00Some years ago I tried to explain Ellen Brown'...Some years ago I tried to explain Ellen Brown's error to her, but she dismissed me. And some of her disciples flamed me. <br /><br />Once you fall into the mental rut of believing that the entire world is like the euro-zone, nobody can get you out of your rut except you.Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-64358457281800727842018-12-30T13:55:06.819-05:002018-12-30T13:55:06.819-05:00“Victoria Grant has more of an Ellen Brown take on...<i> “Victoria Grant has more of an Ellen Brown take on things, but it's not a bad start.”</i><br /><br />Yes. Like Ellen Brown, plus everyone else at the Public Banking Institute, Victoria falsely believes that only banks can create money. <br /><br />Victoria’s belief is true in the case of euro-zone nations, but not in the case of monetarily sovereign governments like that of the UK or USA, which create their spending money out of thin air, without borrowing from anyone. <br /><br /><b>(However,</b> if a monetarily sovereign currency is not negotiable outside a nation’s borders, and if the nation also has a trade deficit, then the nation will have a severe foreign debt crisis, accompanied by extreme poverty and inequality.)<br /><br />Nonetheless, Victoria is correct in saying that we have given <b><i> FAR</i></b> too much power to the banks, and we are letting the bankers destroy us with debt. <br /><br />Politicians harp on the non-existent <b>“public </b>debt crisis” (or “national debt crisis”) in order to divert attention from the all-too-real <b>private</b> debt crisis.<br /><br />Victoria Grant is also correct in saying that poverty is not an accident, or a “law of nature.” Poverty is always the result of policy choices made by society’s “leaders.”Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.com