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Economic Articles from 2017

Sovereign Debt Jubilee, Japanese-Style

[Economic]
Sovereign Debt Jubilee, Japanese-Style
by Ellen Brown
Posted August 1, 2017

solution to debt overhangJapan has found a way to write off nearly half its national debt without creating inflation. We could do that too. Let’s face it. There is no way the US government is ever going to pay back a $20 trillion federal debt. The taxpayers will just continue to pay interest on it, year after year.

A lot of interest.

If the Federal Reserve raises the fed funds rate to 3.5% and sells its federal securities into the market, as it is proposing to do, by 2026 the projected tab will be $830 billion annually. That’s nearly $1 trillion owed by the taxpayers every year, just for interest.

Personal income taxes are at record highs, ringing in at $550 billion in the first four months of fiscal year 2017, or $1.6 trillion annually. But even at those high levels, handing over $830 billion to bondholders will wipe out over half the annual personal income tax take. Yet what is the alternative? Japan seems to have found one. More…

“We are declaring war on cash,” Bank spokesman Andy Gerlt

[Economic]
“We are declaring war on cash,” Bank spokesman Andy Gerlt
By Soren K.Group
Posted July 29, 2017

war on cash Among the people championing the convenience of a cashless society are those who use iphones to buy Starbucks coffee. These devotees who will sacrifice freedom for convenience will not be spared. They will be crushed under the juggernaut when alternate choices of transacted commerce are eliminated.

Kind of like the middle class thinking Trump was going to help them. Or the bitter left that thought Hillary was actually liberal. There are only degrees of authoritarianism now. And those in power are the elitists who state they know what is best for you. It also happens to be what is best for them. And cash – or more correctly control of how cash is spent – is an obstacle to that

There is nowhere to hide. The cashless society is coming, and with it, your freedom to spend where and when you see fit. More…

Why do we Allow Private Families to Control the World’s Money?

[Economic]
Why do we Allow Private Families to Control the World’s Money?
by Phillip J. Watt
Posted July 25, 2017

BIS, the apex of the central banking systemThe masses can no longer escape the knowledge that they’re being taken for a walk down a dark alley: the way money is created in our global society benefits the so-called elite at the expense of the 99.9%. It doesn’t have to be this way though; all we have to do is stand up and demand that it change.

If you and I were to get a loan from a bank we’re not actually being loaned anything they had. Instead, they punch numbers into a computer, which creates new money that is placed directly into our bank accounts.

That’s right – they created new cash out of nothing. They didn’t get it from their vault, or loan it from another source, they just created it on their computer. This begs the question: why do we allow private stakeholders, such as the banking families that control the world’s financial and political spheres, to profit from money that was created out of thin air? Can’t we just generate new funds for the benefit of the people and direct the profits back into the community? More…

How Governments Can Kill Cash

[Economic]
How Governments Can Kill Cash
By James Rickards
Posted July 24, 2017

war on cash is heating upThe global elites are using negative interest rates to do the same thing as inflation — make your money disappear. One way to avoid negative interest rates is to go to physical cash. In order to prevent that option, the elites have launched a war on cash.

One solution to negative interest rates is to buy physical gold.

But governments always use money laundering, drug dealing and terrorism as an excuse to keep tabs on honest citizens and deprive them of the ability to use money alternatives such as physical cash and gold. When you start to see news articles about criminals using gold instead of cash, that’s a stalking horse for government regulation of gold. More…

 

Financial Weapons Of Mass Destruction: Top 25 U.S. Banks Have $222 Trillion Of Exposure To Derivatives

[Economic]
Financial Weapons Of Mass Destruction: Top 25 U.S. Banks Have $222 Trillion Of Exposure To Derivatives
by Michael Snyder
Posted July 20, 2017

derivatives are economic weapons of mass destructionThe recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes. Today, the top 25 U.S. banks have 222 trillion dollars of exposure to derivatives. In other words, the exposure that these banks have to derivatives contracts is approximately equivalent to the gross domestic product of the United States times twelve.

During the great financial crisis of 2008, derivatives played a starring role, and U.S. taxpayers were forced to step in and bail out companies such as AIG that were on the verge of collapse because the risks that they took were just too great.

But now it is happening again, and nobody is really talking very much about it. In a desperate search for higher profits, all of the “too big to fail” banks are gambling like crazy, and at some point a lot of these bets are going to go really bad. More…

Capital Punishment

[Economic]
Capital Punishment
by Jeff Thomas
Posted July 18, 2017

the banks will have total controlI project that, when the dollar collapses, paper currency itself (not those who created it) will be blamed. Government leaders will wag their collective finger at those who have subverted the good that QE had been intended to do. Without putting too fine a point on it, the public will get the message that the only problem with QE was that the greedy One Percent sought to profit greatly from it, so the stimulus never sufficiently reached the man on the street.

But all will not be lost. Governments will vow to stand together to overcome the damage done by the powerful usurpers by creating a new form of currency that is fully controlled by the governments. The new form of currency will be electronic and will promise to end all monetary woes, as the governments will be able to track all monetary transactions of every kind. It may take the form of several new national currencies, but I believe it’s more likely that it’ll be a single IMF-centred currency that will be adopted by many countries. More…

Banking On Our Country

[Economic]
Banking On Our Country
by Frank Sanitate
Posted July 17, 2017

Santa Barbara considers joining the public banking movementPublic Bank advocates are ready to help Santa Barbara County take a deeper look at the Public Banking Solution. Officials are eager to find a realistic way to deal with their budget short-fall. Others are curious about what kind of non-taxed-based revenue a public bank could generate that might be used to pay for crucial public services, and things like affordable housing so that their teachers, law enforcement officers, fire fighters and other key employees can live closer to where they work.

Currently our County Board of Supervisors is trying to resolve an anticipated $30 million budget shortfall. They – and virtually all other city, county, state and national governments — continue to try to resolve the problem in the same old boring ways. They cut services and jobs, or increase taxes. But there is a better way to solve the problem, one that’s been around for almost 100 years, but virtually unknown – increase revenues through creating a “public bank”. More…

First India Bans Cash, Now It’s Targeting Gold

[Economic]
First India Bans Cash, Now It’s Targeting Gold
by Jeff Paul
Posted July 14, 2017

targeting more wealth from the herdThere you have it. The cashless agenda of control laid bare. There shall be no economic activity outside of State control. Cartels that play nice will be rewarded with more market share.

In November of last year, India banned certain cash notes in a bold move to force businesses into the banking system to better harvest more taxes from its livestock. Now, under the guise of “improving transparency” and forming a “common market,” India has begun targeting gold with new taxes, regulation, and incentives for citizens to turn over their undeclared gold to the financial sector.

Roughly 86% of India’s economic activity happened in cash at the time much of it was banned. Presumably that includes the $19-billion-per-year retail gold industry. Again, it appears that India’s government (central bankers) wants a bigger cut of the action and to better track the private assets of citizens. More…

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Quotable Sayings

nothing can stop a determined soulThere is no chance, no destiny, no fate that can circumvent or hinder or control the firm resolve of a determined soul.

Ella Wheeler Wilcox

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billionaires don't EARN money, they MAKE money

You do not become a billionaire through labor. You become a billionaire through inheritance, corruption or economic rents – or, in most cases, some mixture of all three.

Grace Blakeley

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same puppet master pulling strings on both sides

Mainstream American liberals think they’re clear-eyed because they can see the propaganda strings being pulled by Fox and Donald Trump, and mainstream American conservatives think they’re clear-eyed because they can see the propaganda strings being pulled by MSNBC and the Democrats, but the propaganda strings on both trace back to the same puppet master. And seeing that is just the beginning.

Caitlin Johnstone

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discover your infinite worth

You alone are the judge of your worth and your goal is to discover infinite worth in yourself, no matter what anyone else thinks.

Deepak Chopra

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main stream media propaganda

It is obvious that the US government is destroying Assange to signal to journalists the consequences of publishing information. It is therefore also obvious that any journalist who fails to use whatever platform they have to speak out against Assange’s persecution has no intention of ever publishing anything that the US government doesn’t want published. Their silence on or support for what is being done to this man can and should be taken as an admission that they are nothing other than state propagandists.

Caitlin Johnstone

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Britian's Orwellian tactics against Julian Assange

It’s quite fitting that the – imperially pre-determined – judicial fate of Julian Assange is being played out in Britain, the home of George Orwell.

Pepe Escobar

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More Quotable Sayings

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How is it that we were taught to fear witches, rather than those burning them?

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The Shocking Truth about Our Money System and How We Can Break Free!

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