The Sane Human Test. See if YOU Pass. Dedicated to Jane and Joe Sixpack.

   (Commentary posted by Roger Erickson)



You'll probably STILL hear the following myth, from ~139 million of our ~140 million eligible voters

"... tax the Rich ... Because that's where the money is?"

Uh ... that was true on a gold std.

However, since 1933 that is NOT where the fiat is!

Please read Marriner Eccles first address to the Senate, in 1932.
http://fraser.stlouisfed.org/docs/meltzer/ecctes33.pdf

Then read Beardsley Ruml's revelation, 1946
http://www.constitution.org/tax/us-ic/cmt/ruml_obsolete.pdf

(Yes, it took BR 13 years to realize what Ben Franklin noted in 1727! Let's discuss that delay for another time. BR probably suffered from a degree in economics.)

Per definition, "fiat" = public initiative.

No, we can NOT let gold-hoarding plutocrats manage our currency supply "for" us, ever again. They screwed that up so badly, so many times, that we can NEVER fall for that BS again. We couldn't have ended the Depression, or mobilized to win WWII on a gold std. If we were on a gold std, our rate of mobilizing for a WWII initiative would still be picking up steam at the station!

So, since 1933, we accelerate agile management of our own, distributed, Public Initiative, using FIAT currency - where every transaction allowed by our culture is - in theory - instantly denominated as a matching debit/credit to buyers/sellers. That still means public responsibility, of course, but the metrics we must co-manage AS OUR NATION GROWS, are increasing national output AND controlled inflation. It is completely irrelevant to "balance" the yearly supply of a floating denomination metric (fiat currency). For those struggling with this as a novel context to picture, managing a fiat currency supply is analogous to managing the amount of oxygen/CO2 which an individual breathes in and out. How much fiat currency do we need? Answer: as much as our activities dictate. No more and no less. Same as during WWII. Breathing, initiative or fiat currency is not something we need to regulate in any way EXCEPT to avoid the extremes of hyperventilating for no reason, or holding our public initiative until the MiddleClass turns blue. 

How the heck does one "balance fiat?" What does that even mean?

Today? We're voluntarily letting fiat-hoarding plutocrats manage OUR fiat for us? Today that's called "fiat austerity" and class disparity. Whatever the semantics, do you think that will turn out any better than letting the same charlatans manage our gold-std currency supply did in 1929? Dream on! I've go a derivative on Wall St. to sell to you, along with that virtual bridge in Arizona.

Next, read:

15 Fallacies of Financial Fundamentalism
http://www.columbia.edu/dlc/wp/econ/vickrey.html

7Difs
http://moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/

& Luther Gulick's original SocSec memo
http://www.ssa.gov/history/Gulick.html

Are you thoroughly FURIOUS yet?

If you're now mad as hell, and refuse to take the class warfare anymore ... then CONGRATULATIONS! You pass the sane human test!!!

It's the 1% idiot savant sociopaths who are insane, NOT you.

Now please leverage YOUR sanity for the net benefit of your culture and nation.

Paraphrasing Gen. Patton: "Never let some faux 'leader' in a slick suit tell you HOW to run YOUR Democracy. Let all citizens suggest Desired Outcomes, then participate in impressing all of us with EVERYONE'S ingenuity."

None of us is as smart as all of us? That's true ONLY if each of us listens, often enough, to ALL of us.

Everything Must Go? Including Students, Population ... and Sovereign Future?

   (Commentary posted by Roger Erickson)

Portugal vows quick budget action after court block

This reminds me of the Bill Black Conundrum.

Every country's Fx rate will be above average,
..Every country will be a net exporter,
Everyone's fiat will be "balanced" ...
.... and now ..... everyone's S&P Rating will be below average!

Just be sure to add students, pesky electorates and national futures to the list of exports. :( Then sit back and enjoy the mosquitos in Swamp WeBeGoners.

If our current mentality keeps up, the same will happen here, voluntarily!

It's either austerity or sovereign culture.

Which will go? Neither, without a fight, it seems. A war between "international creditor" parasites and local populations. Which of them, in every nation, will win the battle to own that nation, and it's citizens?

This excerpt [re Portugal] says it all.

Portugal's prime minister vowed on Friday to find alternatives "as quickly as possible" to a key austerity measure in its 2014 budget that was blocked he previous day by the country's top court. 

Pedro Passos Coelho told reporters on the sidelines of a European leaders' summit in Brussels that they would scramble to find a "new, durable and efficient measure" that would "satisfy the objectives fixed by the international creditors" of the country. 

Can't some of Portugal's objectives be FIXED by their own citizens? Must they stoop to selling citizens to pay international banksters just to denominate their own, internal fiat? The semantic tricks involved in this are insane.

"I will do everything possible to end the climate of uncertainty created by this situation,"

That's what he said at a news conference.

Exactly which uncertainty is he talking about?

The uncertainty as to whether Portugal will retain any semblance of sovereign independence? 

Or the uncertainty as to exactly when the banksters can exercise ownership to Portugal itself, through a hostile take over .. er, outright theft?

The court case was a major blow to the bailed-out country and came just three days after international auditors from the European Commission, International Monetary Fund and European Central Bank had given Lisbon the all-clear on the terms of its 78-billion-euro ($104-billion) aid package.

Apparently, no one told the Portuguese court that public fiat was supposed to go to Portuguese citizens, not to foreign banksters.

The cuts were a key plank of the government's target of bringing the public deficit down to 4.0 percent of output next year and the government must now find the savings elsewhere.

Must? Who's threatening them? The dreaded TINA? They still have the option of deposing Empress TINA and nationalizing their own liquidity units. And they'll pay for an escalating tax on output by REDUCING output? Can somebody find a semblance of sanity in this?

Or, they could at least give the ECB & Euro Parliament an ultimatum. Scrap the arbitrary local budgetary caps, and let all currency creation return to sovereign management of national fiat. Or, how about something equally mundane, but at least democratic: insist on a Universal Employment Guarantee for all citizens in every EMU member country, with the same Minimum Living Standards for all. 

If they want their nations to survive as credible contributors to their favorite toy, NATO, then something more sane than gutting Portugal seems like the simplest, rational step. If we in the USA don't speak out now, this roll-up strategy will reach our doors too, by hook or by crooks.

SocSec taxes, medicare taxes, student loans ... how much of US economic initiative is left?

commentary by Roger Erickson

Student debt hits record 1 in 5 US households
"With college enrollment growing, student debt has stretched to a record number of US households -- nearly 1 in 5 -- with the biggest burdens falling on the young and poor."

Why not just be honest, and rename this pattern as indentured servitude, serfdom & hereditary slavery?

We can spend unlimited amounts of currency into existence for programs that the wealthy hire lobbyists to promote - from NASA to the DoD to agriculture and corporate and bank subsidies .... but we can't find any fiat currency to spend on mandatory education, mandatory public health measures, or mandatory minimum care for our own elderly? Rubbish!

It's not just that our electorate doesn't understand how a fiat currency works, they simply don't understand their situation. That's a recipe for disaster.

A foolish population & their future are soon parted.

We're already deep into a civil war.

"Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their [personal] gains."
Thomas Jefferson

That's what I was trying to get at in an earlier post, pointing out that we're duped into fighting a civil war against ourselves, by proxy.  Apparently this crowd doesn't know what a prion is anyway.  Anyone have the imagination to write out contingency tables for what's next, i.e., what lies beyond even social variants of the prion phenomenon?  It really doesn't matter how exactly we describe & document the escalating crimes in an evolving class war.  All that matters is what we do about them, and how quickly.  An ounce of prevention is still better than a pound of cure.

Until then, we're once again manipulated into pitting ourselves against ourselves, this time for the twisted principle of merchant's rights, not even states rights. Same real stakes, however.

"The consumption-led economy is the only way out"

Ya think? Doesn't that mean that the goal is to have EVERYONE employed, working at providing either goods or services that their their compatriots want & need?

That's what happens among all the cells in an organism, e.g. a human, or even a tree. Isn't that what should occur for all the humans in an efficiently organized nation?

To do that, we need to work together, openly, and constantly innovate. Especially, we need innovation in our methods for working together, openly. Total coordination = optimally distributed decision-making.

Gathering Storm: China's Epic Hard Landing
Author: Dee Woo

ps: is he related to Doo Wop? :)