A second commentary
This one is on the economics and politics
that is being buried
As Adam Smith wrote: All for ourselves, nothing
for anybody else, that is the cruel maxim of the rulers of mankind
I
chose to write
about economics, since what we have in our healthcare system is the failure to
progress with Keynesian economics—managed capitalism for the benefit of the
masses. The organized voice of the
working class under FDR was the unions, and slowly over the next 40 years their
voice was muted through the slow grinding power of the political voice of the
corporations and their think tanks. They
sing a song of service for us in their media for to shape us to have faith in
them, to fight for them, to hate commies, to shop till we drop, and to be smart
enough to put a nut on a bolt on an assembly line (George Carlin) while
they pick our pockets and destroy our health.
Having said that, I see the current 2020 economic crash not as a response
to protect us from the deadly coronavirus, but a planned crash for the sake of
baling out the economy by a huge inflation of currency.
Allow
me to
explain how the financial sector benefits.
The banking system issues our currency.
So, when the government desires a trillion above their income, they sell
credit notes such as Treasury bills, treasury notes, treasury bonds, and
treasury inflation protected securities (TIPS).
The banks then place in the governments account a trillion dollars. For
every trillion dollars of government notes the banks can then issue 10 trillion
in credit, one of which pays for the notes they bought. Thus, for a trillion
in notes, assuming the loans
and other investments yield a return of net 5%, the financial sector including
their shadow banks (a separate brank they own and not regulated) they will in
profits $500 billion per year in perpetuity—as long as they own that $1
trillion in qualifying assets. In
just 2 years at 5% return, they have their
trillion back, and can buy a second trillion in government notes. On top of
that they are collecting interest
from our government for the $1 trillion they purchased. Oh, and buy the way
in 2020 the payment for
their US national debt is $23.7 trillion.
Foreign own $7 trillion of the $23.
But that is missing quite a lot, social security liability is $20.4
trillion, and total unfunded liabilities is $135.36 trillion. US Federal debt
has gone from 58% of GDP to
109% and this is not adjusted for the inflation of currency, which yields a
huge profit that is counted as part of the GDP.
US total debt is $77 trillion. For
their shadow banking there is the currency and credit derivates which have a market
value (obligation) of $675.7 trillion. And
US trade deficit this year is $335 billion.
https://www.usdebtclock.org/#
And I haven included figures of state
and local government, etc. Welcome to
the world the banks have built for us.
And it gets worse in that though productivity of the work has gone up
from $53,000 per year to $69,000 in 2000 dollars yet we are making less in buy
power. Who is raking in the extra per
hour productivity and taking more so we have less???
There
are
other ways to profit, such as shorting markets, betting that the price will
drop. Not much of a risk when an
insider, Bernanke the head of the Federal Reserve made $5 billion shorting the
markets in 2008. Buying up bankrupt
businesses, buy assets of
foreign countries, and so on.
Financial
and political history has been rewritten,
to sell debt-based currency, need for banking and securities, to bury the
possibility of a debt free fiat currency, to promote neoliberalism and its march
towards a global government, etc. Thus,
I have two article I wrote in prominent positions, one on the coronavirus,
the other on the history of debt-based currency and its tentacles.
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