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  • BroMikey
    replied
    Originally posted by Danny B View Post
    I worked at GMAD in Van Nuys, Ca. I quit in April of 1972 when I was making $11.02 an hour. I still have my pink slip.
    The price of a car brand new $5000 or less so wages should be 5 times that now.

    Leave a comment:


  • Danny B
    replied
    I worked at GMAD in Van Nuys, Ca. I quit in April of 1972 when I was making $11.02 an hour. I still have my pink slip.

    Leave a comment:


  • BroMikey
    replied
    Yup, the beast of burden (donkey) always carries the load. However this is what made America great from it's beginning. Someday Joe sixpack will get a fair shake under Trump, coming right up. Vote Trump 2020. A business man who does not want to see his money in the bank being drained out simply for letting it set there. Like we saw under Obama.

    Under Obama 401k's were completely stolen. People I know in their late 30's will never forget how they either lost it all or 20-40,000 dollars of it. Never to be recovered and no one held accountable. Law and order is coming better than ever under Daddy Trump. To the cheating class he is an SOB. Do it Trump, we will arise as a nation from this cold war.

    The stimulus money will soon be back and renters (often young folks) will find new haven. Right now as it stands the Joe sixpack is getting help as never before seen. It reminds me of Jesus washing the feet of his followers. Many of us are actually getting a rest after 50 years of slavery. many women went back home to their children who were losing their minds trying to save their existence (homes) as children grew up in schools run by filthy govt and day cares.

    I have wept for these mothers for decades some of them I know have been trapped (enslaved) For them I am glad for a reset. Next we will see wages rise for the Joe's of the world who have been pushed around, manipulated and abused financially.

    Remember what congress said, Joe needs $600 dollars plus his normal 2-300 dollars to make it or around $900 for survival. Conversely Joe has been lucky to make $500 clear each week for the last 40 years, since the 80's. Others made $2000 per week but
    this has never been the norm. If Joe made $900 a week he did not see it with $200-$300 dollars being raked right off the top.

    I remember my Dad made $3000 a week back in the late 80's and only took home half of that. He worked for GM in the Detroit area (Pontiac Mich.) as a fork lift driver to start and later plant protection and a crane operator. All he did was walk around to make sure everything was in order. If he saw a pipe broken or a wire down he reported it.

    American's will get a fair shake again.
    Last edited by BroMikey; 08-31-2020, 06:41 AM.

    Leave a comment:


  • Danny B
    replied
    Charles Hugh Smith and the rising wedge model of breakdown
    http://charleshughsmith.blogspot.com...e-extreme.html
    At least somebody understands the actions of the FED;
    It’s about jobs, jobs, jobs – Doug Noland, Credit Bubble Bulletin

    Federal Reserve: buy a home, save the economy – Press Enterprise
    Owner -occupied homes have barely gone up since 1985. The FED pumps in money and, speculators need a place to park the money. So, construction workers have jobs even though Joe sixpack can only afford to rent. FED money kept house construction going BUT, the resultant price inflation meant that Joe Sixpack couldn't afford the house that he was building. All this "churning" transferred money to the speculators at the expense of the producers.
    Devastating consumer financial cliff coming right up – Mish
    Joe Sixpack wasn't responsible for the current credit super-cycle but, he will definitely suffer from the implosion.

    The Fed and the looming capital market meltdown – GNS Economics
    This has to be a joke, because if it’s not… – Alhambra Partners
    The WEF clarion call: a breakdown of ‘the Great Reset’ – Steven Guinness
    The Great Reset is supposed to usher in the new world order. I suppose that this is possible. Christine Lagarde was the Managing Director of the International Monetary Fund.
    Christine Lagarde has been pushing the Great Reset for years.
    The IMF is a member of the Club of Rome. The club of Rome demands that the population of America be reduced by 100 million.
    You do the math.

    Jeff Bezos just shocked Amazon investors to the core with this dire statement:

    “I predict one day, Amazon will fail.”

    In a recent interview, Bezos explained that he believes “Amazon will be disrupted one day” and eventually “will go bankrupt.”

    What might be even more alarming is that Bezos has been dumping roughly $1 billion worth of Amazon stock every year…"

    Currently, Amazon is 98% of the valuation of the Russel 2000 index.

    Leave a comment:


  • Danny B
    replied
    All the writers are screaming about the wealth transfer from X or Y to the already rich. $ trillions pouring into stocks, corporate bonds, banks, etc, etc. This is touted as a wealth transfer. I'll link a couple of articles.
    https://www.peakprosperity.com/what-...ur-money-dies/

    https://goldswitzerland.com/space-od...icopter-money/

    The bankers bought the politicians. Investment schemes that had always been illegal rose to predominance. This lead to the "fictionalization" of everything. There were too many speculators and, markets were too crowded. Regulatory capture had allowed the new schemes to proliferate and, extend the credit bubble a bit longer. When all is said and done, there just isn't enough profit in the system to finance all the speculation.
    http://charleshughsmith.blogspot.com...ng-trends.html

    These many writers are screaming about all the money pumped into wealthy companies. FED GOV has created a payroll protection plan. This should be some kind of hint that; pumping money directly into companies was considered NOT adequate to protect job-payrolls. All this money pumped in is an attempt to keep income rolling for the middle class.
    Fracking lost $ 280 billion. Was this an endless chain of stupid investors? NO it was a State subsidy of your consumption of carbon energy.
    Several years ago, the West reached peak cheap oil. Various schemes were used to keep the American motorist and American trucker rolling down the road.

    Ever since the gold standard was abandoned, finance has caused price inflation that robbed the wages of the actual producer.
    NOW, the price of oil is too low for the producer AND, too high or the consumer.
    FED GOV has been subsidising the price of oil. FED GOV is now subsidising the whole finance sector. 51% of Americans ( old number) are receiving a check from GOV.
    Just how much can the State support?
    If everything is automated and outsourced, what is left to support employment.
    https://alhambrapartners.com/2020/08...-jobs-numbers/
    Bank of America sees a very bleak future.
    https://www.zerohedge.com/markets/it...oming-end-game

    No matter how bad Main Street looks, Wall Street just keeps rising.
    http://theeconomiccollapseblog.com/a...-at-this-point
    At the back of your mind, NEVER forget that the Club of Rome is working towards reducing the population of America by 100 million. The IMF is a member, along with MANY other powerful groups. The IMF has been preaching about the Great Reset for many years. Will you be surprised by a banking collapse?

    8/26 UK scientist: Lockdown was a “monumental mistake on a global scale” – Summit
    Ah yes, the "plandemic"
    8/26 “Central banks, not elected governments, run the world” – Claudio Grass
    It has been quite easy for the corporatocracy to buy whatever politicians they needed to control. Keep in mind that a LOT of powerful people want to do population reduction on a big scale.
    8/26 Fed seen holding rates at zero for five years in new policy – Yahoo!
    So, what about all those pension funds that need an 8% return?

    8/27 The Senate is on vacation while Americans starve – NY Times
    8/27 Rand Paul: Biden ‘will continue to spill our blood and treasure’ – Hill
    The Neocon war hawks are trying to regain the control that Trump wrenched away from them. They would have us return to subservience to the mother country.
    8/26 Hillary Clinton says Biden should not accept results of the 2020 election – ZH
    8/26 Republicans paint dark picture of future if Trump loses – AP
    If the Left / Dems want to continue to destroy America to get it realigned with the wishes of the mother country, look for a total economic meltdown around election time. That would be a good time to close the banks.

    Seems that the Dems may have miscalculated just how much law & order Americans want.
    Trump pops to 52% - 'Best job approval rating on record' up with blacks, even Democrats
    It remains to be seen just what Trump can do about the great reset.
    https://www.zerohedge.com/news/2020-...-news-humanity

    Leave a comment:


  • Danny B
    replied
    Money mechanics, https://mises.org/library/understand...ey-mechanics-0

    Leave a comment:


  • Danny B
    replied
    Stats on jobs lost to automation;
    37% of workers are worried about losing their jobs due to automation.
    The number of industrial robot jobs increases by 14% each year.

    By 2022, the total task hours completed by humans will drop by 13%.
    Today, 25 percent of working Americans are at "high risk" of losing their jobs to automation,
    putting another 36 percent, more than half of all working Americans, at "medium risk." The job losses would easily be in the hundreds of millions.
    An estimated 67% of workers at U.S. technology companies are concerned about losing their jobs to digital capabilities powered by artificial intelligence
    U.S. technology firms shed a record 112,000 jobs in April,

    International Data Corp. estimates that AI jobs globally could increase by as much as 16% this year
    It estimates that 40% of companies world-wide are increasing their use of automation as a response to the pandemic
    Bloomberg
    Machines Can Replace Millions of Bureaucrats
    Many public sector jobs have a high potential for automation-- it's just that there's little incentive for change.

    Frey estimated that about a quarter of public-sector workers are employed in administrative and operative roles which have a high probability of automation. In the U.K., they estimated some 861,000 such jobs could be eliminated by 2030, creating 17 billion pounds ($21.4 billion) in savings for the taxpayer. These would include people like underground train operators -- but mainly local government
    In the last two decades public sector spending rose by an average 3.1 percent a year, about 16 times faster than productivity.

    Ok, you get the idea.
    Many millions of paper-pushers worldwide have State jobs that could be easily automated.
    "there's little incentive for change."
    The transit authority in NYC is burning through $200 million a month to pay employees when covid has killed income. They can't possibly reduce their workforce because the transit workers vote as a bloc. NYC borrowed $3.6 billion and, needs to borrow many $billions more.

    This leads us to the Green New Deal.
    Many millions of GOV paper pushers worldwide are cheering for more taxes, fees and fines.
    Keep in mind that most politicians have NO job skills other than ordering people around. The new green deal would give them job & pension security even though they are just parasites.
    Armstrong writes about the New Green Deal
    "Nevertheless, this is the TRUE view of socialists – you are the property of the state. Socialists do not tolerate classes. Their core belief is everything belongs to them."
    "States have lost income because of their stupid COVID lockdowns. Of course, they never reduce their expenses and after wiping out people’s jobs, they are looking to make up their losses in revenue with new creative ideas. As I warned, people simply began walking away from their property in Rome because of such corruption like this. Those in power only see their own power and self-interest. This is why we need so desperately to eliminate career politicians."
    "There is NO way any state government will ever STOP raising taxes. They are incapable of ever seeing themselves as the source of the problem."
    https://www.armstrongeconomics.com/w...icut-new-york/

    "ANSWER: It is not just the Democrats. We are looking at politicians around the world."
    "California is looking to impose a Wealth Tax as Elizabeth Waren had proposed which is Piketty’s idea which is supported by Schwab’s World Economic Forum in Davos."
    "You have an elite group cheering the destruction as an opportunity to rebuild the world economy the way they think it should run. They are threatening fund managers to divest from China in hopes of bringing them to their knees to accept their agenda. That is NOT going to succeed. We are staring in the eyes of absolute ruthless tyranny and the markets are starting to perform in anticipation of a major financial crisis."
    "forecasts of Neil Ferguson have proven false that they would continue these lockdowns. It makes no sense. They are either deliberately hurting people or they have been bribed by the consortium to further the Great Reset. "
    "This is a deliberate agenda to destroy the economy to rebuild it GREEN. The serious mistake here is that they think they can recreate the economy in their vision. They do not even know how it works."

    So, it isn't just government paper-pushers that want socialist guarantees for their jobs. Even the politicians are afraid of AI taking over their jobs. Imagine a world where machine-thinking made decisions based on logic rather than soliciting bribes and amassing power.

    Leave a comment:


  • Danny B
    replied
    There are many claims of hyperinflation resulting from all the new liquidity being pumped into the economy. We already see lots of price inflation but, will we see hyperinflation?This is a whole new world. There is enormous liquidity inflation but, FALLING monetary velocity. The result looks much like deflation. Time will tell.
    https://www.rumrebellion.club/2020/0...-thats-coming/
    Armstrong and the blob state;
    "What they are also doing is demanding bailouts for the Blue States to cover their own pensions which were broke before this virus. This is putting government employees above the people. As reported before, they have promised the Blue governors that if they keep the lockdowns and hurt the people enough to vote against Trump, they will bail out all the state employee pension funds which are broke."
    https://www.armstrongeconomics.com/i...be-bailed-out/
    See if I get this right; If the GOVERNORS do enough damage to the economy, people will turn on the president.
    WHO thought up this strategy?
    Soviet Seattle mayor appeals recall decision that could see her removed from office
    AND
    Oregon Governor Kate Brown Could Be Recalled As Soon As October

    Leave a comment:


  • Danny B
    replied
    The producer has lost his job. The parasite is frantically trying to increase it's control and, predations.
    Armstrong writes about the producer trying to avoid this increase in control. Remember that socialism is predation. Europe is more socialist than America.
    "However, the decision to impose the lockdown again, according to reliable sources, is because to lift the COVID restrictions, people cannot pay debts and the financial crisis will hit. This is really crazy for they have to be lifted and then rents have to be paid and the entire nightmare of this exaggerated response will have to be faced. It is inevitable! Our sources are deeply concerned in Germany and believe these restrictions have unleashed massive damage which will not surface until the restrictions are lifted."

    "This is clearly an all-out war to take over the government and force a Socialistic agenda to raise taxes dramatically and impose this Great Reset agenda upon everyone by eliminating all freedom under the pretense of public health. Never in the history of the world has any other government used public health as the excuse to destroy what people have worked for, alter the economy, and strip all of us of our right to be free of such tyranny."
    https://www.armstrongeconomics.com/w...st-the-people/
    Armstrong claims that the Hildebeast can NOT run for president because of Bill's corruption.
    https://www.armstrongeconomics.com/i...illarys-dream/

    The blob State of many millions of bureaucrats is in a full-on war to use any means necessary to continue the predation.
    https://www.zerohedge.com/political/...ocks-tyranny-z
    Veteran Virologist Slams Mainstream Media's "Misinformation" About An Effective COVID Treatment

    Main Stream Media ( I won't name any names) is in a huge battle to preserve the power of the deep State (organized crime). At the same time, there is an equally huge battle to preserve socialism in Europe AND, inflict socialism on America. The covid battle and lockdown is an attempt to stop all protests,,, to stop the inevitable economic collapse.
    Also, To jam in "contact tracers" to further control.
    UK Experts Fear Lack of Good COVID Test-Trace System to Lead to Even Worse 2nd Wave
    US Treasury Set To Spend Trillions In The Next Few Months
    US Treasury Plans to Borrow Over $2 Trillion in 2nd Half of 2020, Partly for Future CV Relief
    AND, after that?

    Leave a comment:


  • Danny B
    replied
    There is no cure for efficiency.
    There is no cure for automation.
    FED GOV and, world leaders in general know that socialism always breaks the bank but, they are determined to bring in a cashless system that could be used to support the masses,,,,,, as long as they are compliant.
    The bogus coin shortage, along with other manipulation is designed to force us to go cashless but, that isn't the end of the story.
    Obviously, the State wants FULL control of everything. Now that they have gotten people dependent on stimulus money, they are going to leverage this dependency for even more control.
    YOU will receive money directly from the Federal Reserve.
    https://www.zerohedge.com/markets/fe...ns-next-crisis

    What about business"
    "Fedwire is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants."
    "The Fedwire Funds Service is the premier electronic funds-transfer service that banks, businesses and government agencies rely on for mission-critical, same-day transactions. Fedwire Funds Service participants benefit from the finality of payments credited to their Federal Reserve Bank master accounts."
    https://www.frbservices.org/financia...res/index.html
    The Fedwire Funds Service is a real-time, gross settlement system. Each transaction is processed individually and settled upon receipt via a highly secure electronic network. Settlement of funds is immediate, final and irrevocable'

    OK, you get the idea. Fedwire is the absolute best system for funds transfer. Everybody who receives stimulus will have a Fedwire account. This won't be the same as a State crypto-coin but, it will have much the same effect. Very few people will use cash until it is almost non-existent.
    A dream come true.

    Leave a comment:


  • Danny B
    replied
    Make no mistake, the State is your enemy. It is a predator and a parasite. It's sustenance comes from the producer,,,, by force if needed.
    "through the highly controversial practice known as civil asset forfeiture. Last year, according to the Institute for Justice, the Treasury and Justice departments deposited more than $5 billion into their respective asset forfeiture funds. That same year, the FBI reports that burglary losses topped out at $3.5 billion."
    https://www.washingtonpost.com/news/...did-last-year/
    "Homeland Security Seized $2 Billion in Cash From Travelers at U.S. Airports
    In two-thirds of those cases, there were no accompanying arrests."
    Yep, your money is charged with a crime.

    The credit rating of the U.S. government has just been downgraded. It is already creating about $ 1 trillion a month in new liquidity. The economy has contracted 32.9% and, GOV is trying to make up the difference with new liquidity.
    US Printed More Money in One Month...Than in Two Centuries
    Here is an excellent article comparing 1984 to Brave New World to current conditions.
    https://www.theburningplatform.com/2...our-servitude/
    Congress has an 18% approval rating. Does that mean that we no longer live in a democracy>
    https://www.aier.org/article/politic...-dies-in-2020/

    The blob State is running on fumes. It will tear the whole system apart trying to survive,,,, at the expense of the private citizen (tax donkey)
    Jim Rickards: anarchy from above – Daily Reckoning
    The hunt for taxes.
    https://www.armstrongeconomics.com/tag/hunt-for-taxes/

    Leave a comment:


  • Danny B
    replied
    Just the headlines
    7/30 Almost 50% of lost jobs “may be gone permanently” – Zero Hedge
    7/30 U.S. second-quarter GDP plunged by a record 32.9% – CNBC
    7/30 U.S. weekly jobless claims rise for second straight week, to 1.434 million – CNBC
    7/30 “So far apart on covid deal that we don’t really care” – The Street
    7/30 Fed’s “whatever it takes moment” is a big flop – The Street
    7/30 U.S. renters owe $21.5 billion in back rent; Repubs offer no relief – Reuters
    7/30 Over 62 million people had no pay last week – Mish

    7/30 Lebanon becomes 1st country in Middle East to enter hyperinflation – Yahoo!
    7/30 Lawmakers, united in their ire, lash out at Big Tech’s leaders – NY Times
    7/30 Police withdraw from agreements to guard Democratic national convention – ET
    7/30 Apple, Amazon, Facebook, Google face claims of ‘harmful’ power – BBC
    7/28 Facebook to break up U.S. government before it becomes too powerful – Onion

    7/30 Oregon agrees to help quell violence in Portland – Epoch Times
    Oregon Governor declares that federal agents are leaving Portland, gets quickly corrected by DHS and President Trump
    Portland fining feds $500 every 15 minutes for unpermitted fence in bike lane
    Charles Hugh Smith has an excellent article about just how we got screwed.

    http://charleshughsmith.blogspot.com...nto-abyss.html

    Armstrong and the battle against hydroxychloroquine
    https://www.armstrongeconomics.com/i...ia-over-covid/
    "Youtube Has Removed the Video of the Front Line Doctors calling it FAKE news because it challenges not just the WHO, but Bill Gates, the entire Democratic position against Trump, and the media itself which refuses to allow any contrary view."

    Armstrong's site has been heavily attacked by the usual suspects.
    "We have set up what we call a Trojan Horse where they think they have gotten in while we can watch what they do and it pings back. We used that unique method before which traced ultimately right back to Langly, Va."
    So, the CIA is still very much a tool of the zionists and lefties.
    https://www.armstrongeconomics.com/w...ber-attacks-2/

    Armstrong, "I believe we are heading more into a major confrontation and these politicians who have been eager to oppress the people may wish they never joined this madness. This is the civil unrest Socrates has been projecting. These politicians and elitists who think they can simply reorganize the world economy in their vision will risk being dragged out of their offices and hanged."
    "Fauci has come out and admitted he is encountering serious death threats. He responded: “I’ve seen a side of society that I guess is understandable but it’s a little bit disturbing.” Fauci is a typical arrogant elitist. He thinks he can destroy the economy, wipe out tens of millions of jobs, pensions, savings, and people’s futures and they will not respond? Fauci will clearly be on a shortlist for retaliation if society is pushed to the brink with more lockdowns."
    https://www.armstrongeconomics.com/w...ain-lockdowns/
    • The U.S. economy suffered its worst period ever in the second quarter, with GDP falling a historic 32.9%.
    • Economists surveyed by Dow Jones were looking for a decline of 34.7%.
    So, even with $1 trillion a month liquidity injection, that wasn' enough to stop the contraction.

    Leave a comment:


  • Danny B
    replied
    Americans have much of their wealth invested in the stock market. The Chinese have most of their wealth invested in residential real estate. Due to the one-child policy, there is a shortage of about 32 million women. You can't get a wife unless you own a home. The Chinese have gone crazy for buying houses. There are about 50 million empty apartments. The "owners" do NOT own the land. The GOV does. The apartments are built with the crabby quality that the world has come to expect in Chinese construction. They have toxic drywall and, toxic paint. All this money is invested in empty buildings that will be eventually torn down.
    Zero hedge, "More than three years ago, we explained why "the fate of the world economy is in the hands of China's housing bubble."
    "Furthermore, unlike the US, which is hyperfinancialized and the bulk of household net worth is in financial assets (less than 30% is in real estate), in China it is the opposite, and roughly three-quarters of all household worth is in real estate."
    "unless China's housing bubble is growing at a steady, measured pace created a "wealth effect" illusion among several hundred million middle-class Chinese, we concluded three years ago that the global economy is just as reliant on China's housing market as it is on the global - and certainly US - stock market."

    ""the total value of Chinese homes and developers’ inventory hit $52 trillion in 2019, according to Goldman Sachs, twice the size of the U.S. residential market and outstripping even the entire U.S. bond market."
    "Back in late 2018 we observed that for Beijing, a "nightmare scenario" was unfolding as more than 50 million apartments were vacant, about 21% of all homes in urban China.'
    "Since then the number was only increased, and according to the WSJ which cites recent data from China Household Finance Survey, there are now 65 million empty units'
    "
    Globally, China accounted for around 57% of the $11.6 trillion increase in household borrowing over the decade through 2019, according to Bank for International Settlements data, or roughly half of all global debt created since 2005!The U.S. accounted for about 19%."

    "Average home prices across China reached 9.3 times average income in 2018, according to the Chinese Academy of Social Sciences, compared with 8.4 in San Francisco.
    In Tianjin, a city of 15 million southeast of Beijing, apartments in upscale areas sell for around $9,000 a square meter, or about $836 a square foot, according to real-estate services company Savills PLC. That is roughly the price an average buyer would pay in some of the most expensive parts of London, even though disposable incomes are seven times as high in London as in Tianjin."

    https://www.zerohedge.com/markets/lo...chinas-economy

    OK, you get the idea. The Chinese government can NOT let off the gas when it comes to growing the RE bubble.
    At the same time, the floods are wiping out huge areas.
    Great Depression One was set off by the failure of an Austrian bank, Credit Anstalt.
    Will Great Depression Two be set off by a collapse of the Chinese banking system?

    Leave a comment:


  • Danny B
    replied
    Collapsing Birth Rates to Cause 'Jaw-Dropping' Reduction in Global Population, Study Finds
    7/27 The US economy is flatlining – Upfina
    MAYBE, there is a connection.
    The problem with socialism is; everybody wants the State to support them. What happens when this becomes too expensive?
    Obama's Top Economist Warns Of Catastrophic Risk To Economy If Stimulus Lapses
    https://www.zerohedge.com/political/...timulus-lapses
    7/27 Mnuchin says $1 trillion GOP coronavirus relief plan ready – CNBC
    7/27 Kudlow says next round will include $1,200 stimulus checks – CNBC
    7/26 Fed stimulus has created the “cobra effect” – Real Investment Advice
    7/27 Republicans propose a means test instead of $600 weekly benefits – The Street
    7/25 As U.S. debt rises, Biden’s spending proposals near $10 trillion – JTN

    "In an era when machines may leave millions of people without jobs, Russia is reportedly exploring the possibility of collecting taxes from robots, making the payments equal to income taxes paid by human employees.
    Russian companies may have to pay 13-percent tax for using robots instead of people,"
    https://www.rt.com/business/495744-r...ay-tax-robots/

    7/26 China is preparing for war – Ahead of the Herd
    Yeah, maybe. The floods have wiped out their food supply.
    https://www.youtube.com/watch?v=erONP33MBlA&t=319s

    Leave a comment:


  • Danny B
    replied
    This is an excellent article examining the many facets of MMT. Among other things, it states;
    "One of the primary characteristics of differentiation between MMT and our current monetary system is the absence of government debt. Under MMT, there is no need for the government to borrow money.
    Rather than borrow what it needs by issuing notes and bonds, the government spends what it needs, funds its special projects, hires its contractors, and pays its bills"
    "Acceptance of a sovereign currency in payment of existing debts and obligations is encouraged by a familiar government provocation: taxes. One is more likely to accept payment in the sovereign currency when one knows that taxes and other obligations will eventually be due and can only be paid in money of the same denomination."
    "The taxes are due later and do not inhibit or postpone in any way the government’s capacity to spend money."
    "In some ways, MMT is a more factual admittance of what should be an obvious reality. Regardless of any supposed limitations re: a debt ceiling, and independent of all the legerdemain associated with ‘funding’ the government; there are no restraints of material consequence on government spending."
    http://www.kelseywilliamsgold.com/mm...on-on-a-theme/

    The article argues that the State does not need to collect taxes to finance itself. Part of the reason that it collects taxes is; to enforce the utilization of it's in-house currency.
    Walter Burien has long argued that the State has no need to collect taxes.
    http://cafr1.com/

    Armstrong, "We have reached the point of no return. Governments will find it IMPOSSIBLE to constantly roll their national debts as we enter 2021. Any attempt at paying down the public debt or moving into surplus would be catastrophic and undermine the entire world economy. Who are we kidding? The tax burden on each generation will progressively get worse until we see blood in the streets, which seems to be the only solution to corrupt governments."
    "There are those who now advocate Modern Monetary Theory as the ONLY way out"
    "Their view of neoliberalism supported by Keynesian Economics has collapsed. Therefore, the solution is to cancel all physical money, eliminate cryptocurrencies, and force their vision of how to create this New Green World Order/Great Reset"
    Keep in mind that a LOT of people get rich by loaning money at interest to GOV. They aren't likely to wilfully abandon this gravy train.

    Armstrong has long railed against career politicians. He definitely has a valid point.
    "The best form of government I have ever encountered was that of the Italian city of Genoa from which Christopher Columbus came. The city was ruled by a Doge (president), who was a member of one of the richest families. This position rotated among the families, but its duration was that of the old Roman Dictator who would be appointed for one year. BECAUSE the position rotated, no Doge would ever impose a draconian law since he and his family would be subjected to it the next year. There was no class warfare because they ran Genoa like a corporation, competing against Florence and Venice, and thus EVERYONE benefited."

    "My bottom-line political philosophy is that the “We the People” should be in charge directly — not career politicians, EVER!. You have your bureaucrats who run the government who are accountable to the people directly. I do not support people like Soros or Bill Gates using their money to take over huge swaths of government. The office of Inspector General is only a symbolic gesture to the old Roman Tribunus plebis, tribune of the people, who could bring charges against any government official. That power should be restored. I do not support “Republics” nor career politicians that can be bought and paid for."

    Klaus Schwab,,,, "In other words, we MUST accept his Great Reset. He is in league with Bill Gates and others and sees no problem with destroying jobs and sharply reducing the food supply all to further his nonsense to stop global warming"
    https://www.armstrongeconomics.com/w...er-be-trusted/

    QUESTION: Mr. Armstrong, why is Bill Gates pushing to eliminate all physical money?

    AS

    ANSWER: This is part of the strategy behind Microsoft. They continuously pretend to update Windows, yet they are tracking what you do to create profiles to sell that information. Eliminating physical money will further that hi-tech goal of knowing everything we do and how much we are worth to sell to the highest bidder. Gates and his wife were behind India canceling their currency, and they are pushing that agenda at the United Nations and in Europe. Only Russia is standing up against Microsoft and Gates.

    Gates and everyone he buys, like the Clintons, joined him to further his world domination goal. We will see an unending parade of companies joining Gates and his dream. Mastercard has just joined ID2020.

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