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 on: June 26, 2017, 03:52:27 pm 
Started by QBcrusher - Last post by JasonPSorens
Promoting violent revolution is not acceptable - a longstanding FSP policy. I've banned this user, who's also been repeatedly making off-topic posts.

 on: June 26, 2017, 12:02:29 am 
Started by Luck - Last post by Luck
The plague, Privatization of Jails & Prisons, comes to my town

The mathematicians who want to save democracy

DARPA Is Working to Make AI More Trustworthy [trustworthy like DARPA?]

Drones keep dropping drugs and porn into prisons [Oh, we must'nt let prisoners see porn, how terrible]


Pro-Clinton Group Behind Russian Dossier on Trump. The russia hoax is dead

Black supremecist Twitter comments find people openly cheering white genocide

John McCain was #1 of 33 POWs who faced execution for treason after Vietnam until Nixon pardoned all POWs

CNN Under Fire

Democrats Turn on Obama as Russian Meddling Narrative Begins to Disintegrate

Julian Assange Destroys the Democrat Party in Searing Essay: They Are Doomed

History Of CIA Attempted Coups In Syria And How They Created ISIS

After Trump Tweet, CNN Breaks Media Silence On DNC Fraud Lawsuit

For Years, Qatar Has Been Corrupting the National Security Deep State

Supreme Court Deals Blow to Property Rights

Dead Body Just Washed Up On a Beach 24 Hours Before Exposing MASSIVE DNC Scandal

Trump's Strategy Is "Let the Warfighters Fight the War"

Five Things Everyone Is Ignoring About The Russia-DNC Story

Weekly List of Global Research Articles

18 Israeli Fighter Jets Landed in Saudi Arabia to Prevent Coup

Israel's Dirty Little Secret

Saudi Arabia vs Qatar: Middle East Controlled-Demolition Plan?

Military Escalation on Russia's Doorstep: Kiev Announces US Combat Troops Will Deploy in Donbass

"Self-determination": Why Kosovo Will Never Become Part of Albania

How Hillary Clinton May Find Her Way to Jail

US Recklessly Provoking Russia: The Unthinkable Could Happen by Accident or Design

Smoking Gun Proof that Russia Hacked the Entire World

US Government Exposed Running Nazi-Like Torture Program in Yemen

How Russia and China Are Creating a New World Order

Another Step Toward A Devastating War; Washington’s Pretense that It is Fighting ISIS

Regime Change in Serbia and Poland? Alt-Media’s Biggest Reversal?

Is Uncle Sam Funding the Islamic State? Where Does ISIS Get All Those Tanks, Weapons And Shiny New Toyota Trucks?

American Troops Are Protecting Afghan Opium Leading to All-Time High Heroin Production

Overthrowing Other People’s Governments: The Master List of U.S. "Regime Changes"

Persuading Jews Worldwide to Convert to Zionism

Saudi Prince Reveals ‘US Conditions’ for Mohamed Bin Salman to be King

Mass Incarceration, Prison Labor in the United States

The Reason Behind the U.S. Government’s "Secret Hatred of Europeans"

More Evidence of US Support for ISIS

US Government Proves "Love for ISIS" as Bill to ‘Stop Arming Terrorists’ Gets Only 13 Supporters

Saudi Power Struggle

Who is Interfering in US Politics? Russia or Israel?

U.S. Coalition Cleansing Raqqa of Arabs to Expand Kurdish “Autonomous Region”

 on: June 25, 2017, 10:44:25 pm 
Started by Luck - Last post by Luck

Researchers create a high-temperature device that produces electricity from industrial waste heat

Making hydrogen fuel from humid air

New form of carbon that’s hard as a rock, yet elastic, like rubber

Scientists make plastic from sugar and carbon dioxide

Scientists discover a 2-D magnet

DC Power Lines Making a Comeback

‘Liquid Light’ Can Bend Around Objects in a Frictionless Flow

Sound waves direct particles to self-assemble, self-heal

New method for 3-D through-wall imaging that utilizes drones and WiFi

Hitachi develops breath analyzer smartphone device with facial recognition

China propels rise of electric ultra-high-performance cars

New design improves performance of flexible wearable electronics

Acoustics to improve virtual reality


Deceleration of runaway electrons paves the way for fusion power

DNA replication filmed for the first time, and it's not what we expected

Were LIGO's gravity wave detections all noise? [Just as we thought]

Earth is overdue for catastrophic asteroid strike [very doubtful]

Unknown, unseen object signalled by warped Kuiper Belt

NASA launches world's lightest & first 3D-printed satellite

Einstein’s ‘Impossible’ Experiment weighing a star Finally Performed

Three experiments that hint at lepton universality

General relativity passes [fake] test at Milky Way’s central black hole

Dead Satellites Could Be Blasted Out of Orbit With Powerful Magnetic Beams

Mystery of the Sun’s Plasma Jets May Finally Be Solved

Bubble-like structure associated with the pulsar PSR J1015−5719

Measuring the magnetic fields on the hottest planets in the galaxy

Rare extreme helium star

Star's birth may have triggered another star birth

Radioactive elements in Cassiopeia A suggest a neutrino-driven explosion

Hubble captures massive dead disk galaxy that challenges theories of galaxy evolution

Scientists uncover origins of the Sun's swirling spicules

Human Society Caused Dead Sea Erosion

Earlier date for ancient UK wooden structures

 on: June 23, 2017, 06:38:31 pm 
Started by RidleyReport - Last post by Russell Kanning
so true

 on: June 23, 2017, 11:12:28 am 
Started by Luck - Last post by Luck
(Continued from previous post)

Correcting Michael Hudson

[You seem to be expert, so I'll copy the following to the FreeStateProject forum. My questions and comments are in brackets.]

Crashes and depressions can be eased via increased government spending. However politicians want to reduce government spending (on things that help everyday people) in order to maintain mass slavery to the bankers.

Keep in mind that banks create credit (i.e. loans) out of thin air, just as the U.S. government creates dollars out of thin air. Financial bubbles consist of banks creating more and more credit out of thin air until the debt cannot be paid, at which point the bubble pops. This is how the “business cycle” operates. When an unmanageable debt load causes the “business cycle” to crash, the damage can be eased via government “counter-cyclical” spending. But neoliberals and their puppet politicians don’t want government spending. They want to keep us enslaved, even if it destroys the real economy. ...

(Quote) Steve Keen’s model shows that a long buildup of {private} debt creates the appearance of prosperity until the crash comes. And when the crash comes, voters blame the party in power, not the earlier promoters of nationwide {private} debt peonage. (End Quote)

Everyone is happy as long as the bubble is inflating [What bubble? Do you mean the increasing private debt? Why would borrowers be happy that their debt is increasing?]. Then Wall Street insiders bet that the bubble will pop, and they make it pop. In this way they make money on the inflation and on the deflation [How about explaining that too, how they make money both ways?], while the rest of us sink into a depression.

By 2008, the financial bubble was due to burst sooner or later. Therefore top-ranked insiders on Wall Street and in the US Treasury intentionally caused the financial bubble to burst by allowing Lehman Brothers to collapse. They had bet that the bubble would burst, and then they made it burst so they could collect a fortune. [It's not clear what a bubble is and what bursting a bubble is. Can you clarify?]

"The needed escape from the private debt deflation is a private debt write-down."

Coupled with a reversal of gratuitous austerity via a massive increase in U.S. government spending.

And now Hudson screws up… ...
{He spouts} NONSENSE. The only solution for the endless cycle of credit bubbles and crashes is to make all banks publicly owned. Banks are an essential public service, like police, fire departments, utilities, schools, prisons, and the military. No essential public service should ever be privately owned. ...

{Hudson spouts} MORE NONSENSE. Why give out money to pay the bankers? Why not break up the banks and make them all public? ...

It’s coming sooner or later. The neoliberal Empire cannot withstand the endless growth of the neoliberal debt cancer. Extinction is only a matter of time.

[I guess you're talking about private debt increasing as a cancer. What or who exactly will go extinct and how? Dave of X22 Report on Youtube says the big banks are ready to crash the economy & so is Trump, but Trump wants to start it up again on a sound footing, while the bankers want a sort of feudal system, I guess. Hudson predicts a slow "crash". Ellen Brown said anyone can start a bank. So is part of the solution to have local small governments start banks, making the local residents the owners? What's the solution to getting the military-industrial complex under the people's control so they stop war-mongering?]

 on: June 23, 2017, 09:03:59 am 
Started by Luck - Last post by Luck

Sloppy thinking (Part 2)

The major reason why we have rich and poor is that most people indulge in sloppy thinking about money.  For example the video at the bottom of this post shows the U.S. Bureau of Printing and Engraving, which prints all U.S. currency notes.

At ... 19:53 the video shows Tom Ferguson, who was Director of the U.S. Bureau of Printing and Engraving when the video was made in Dec 2005. Ferguson says that in order to remove the words “In God we trust” from currency notes, the printing plates would all have to be changed, and that this would, “Add to the cost of currency,” and…

Hold it.

The U.S. Bureau of Printing and Engraving has no “costs,” since the bureau creates $650 million dollars out of thin air every day (and the Federal Reserve shreds over $500 million worth of old worn-out notes every day.)

If something “costs” a dollar, then I must surrender a dollar to buy it. However the Bureau of Printing and Engraving does not surrender money. It creates money. Therefore it has no “costs.” Neither does the U.S. government. The words “cost” and “save” is for entities that cannot create money out of thin air.

And this silliness about “cost” is from the bureau’s director! I suppose this should not surprise us, since most people who work for the U.S. Treasury are likewise confused regarding the nature and function of money. Popular columnist Paul Craig Roberts has a PhD in economics, and was an Assistant Secretary of the Treasury – and yet Roberts still thinks the U.S. government borrows its spending money, and therefore has a “national debt crisis.”

By the way, the bureau periodically alters the plates to thwart counterfeiters, and does not have to worry about “costs.” Also, currency notes must change every time there is a new U.S. Treasury Secretary, since his signature appears on the notes.

What all of this shows is that people fail to understand money because they confuse themselves with contradictory assertions. This is why we have rich and poor.

"The U.S. government creates as much money as it likes out of thin air."
"The U.S. government is near bankruptcy."

This contradiction is idiotic.

Some people rationalize their idiocy by falsely claiming that all dollars are lent into existence by banks. Therefore the U.S. government must borrow all its dollars. Therefore the U.S. government is “near bankruptcy.” Therefore the U.S. government must impose austerity on us. It must privatize.

Once you fall into this mental error (about banks creating all dollars) you cannot be saved by anyone except yourself.

Other people rationalize their idiocy by compounding it. They admit that yes, the U.S. government could create all the money it liked out of thin air, but if it did, then everyone would want things like Universal Medicare and a Basic Guaranteed Income. Everyone would sit on their yachts, enjoying life like rich people do. This would be evil.

Still other people rationalize their idiocy by simply shutting down. They admit that yes, the U.S. government can create all the money it likes out of thin air, but the U.S. government is nonetheless “bankrupt.” Why? It just is. Politicians and the corporate media outlets say so. And they never lie. Right?

Speaking of sloppy thinking, at 43:40 the video claims that, “Money used to get its value from gold.” Wrong. Money never got its value from gold. On the contrary, gold has always gotten its value from money. If there was no money, then a ton of gold would not be worth a cent. When the U.S. government first started using standardized dollars in 1865, it pretended that dollars were “backed” by gold in order to make people habituated to using dollars. The amount of dollars created always far exceeded the market value (in dollars) of available gold. In 1971 the U.S. government finally did away with this pretense, but many people still delude themselves that gold is the only “real” money, even though gold was never money. Nor did gold ever physically “back” money. Gold is a commodity. The “gold standard” was merely a gimmick; a pretense.

... After [a while], the video finally gets it right. At 44:18 the narrator says, “The U.S. dollar is only valuable because we say it is.”

Exactly. A dollar is worth a dollar of “full faith and credit” of the U.S. government, plus every person in the world who thinks a dollar is worth a dollar.

Then the video says that if the U.S. government created more money than it creates now, it would cause inflation. Wrong. It would only cause inflation if there was a shortage of things to spend the extra money on. There is no such shortage in the USA. All of us want more dollars, so we can buy more stuff.

Then at 44:50 the video notes that some people think that pennies are obsolete, while other people disagree, saying the U.S. government cannot monetarily “afford” to eliminate pennies. That is, since it “costs” the U.S. government 0.7 cents to make a penny, the government is “making money” off pennies.

Here again is the silly nonsense about the U.S. government having “costs,” and needing to “profit” in money that the U.S. government creates out of thin air.

This kind of bullshit is what sustains poverty and inequality.

9 thoughts on “Sloppy thinking (Part 2)”

June 14, 2017 at 8:50 am
... True money only exists in the human mind, and is represented by coins and bills, and by bank account numbers.

I said the U.S Bureau of Printing and Engraving creates $650 million a day out of thin air. Technically I was not correct. The Bureau creates pieces of paper. When the Fed sends the paper to a bank, the bank logs those pieces of paper as money, but the paper notes themselves are, as you observed, just pieces of paper.

Thanks for the sharp observation. My point was that money is limitless. When someone robs a bank, and gets away with currency notes, we pretend that he has stolen something that is difficult to replace.

Steve: June 14, 2017 at 2:14 am

‘Paul Craig Roberts has a PhD in economics, and was an Assistant Secretary of the Treasury – and yet Roberts still thinks the U.S. government borrows its spending money, and therefore has a “national debt crisis.”’

Even though PCR claims Michael Hudson is the world’s greatest economist (wrong, but Hudson is hands down better than 99.9%), Roberts somehow continues to cling to the bullshit “Positive Money” charade. Unbelievable.

A treasury bond IS a dollar (w/ a coupon)-the govt creates them out of thin air-they are 100% US dollars, what’s not to understand Mr. Paul Craig Roberts?!

Stop with the pictures of she-devil herself, the delusional Ms. Ellen Brown. (Just kidding.)

elizabethharris001: June 14, 2017 at 8:16 am

Ellen means well, but I cannot make her see the light. Believe me, I tried.
Thanks for commenting.

A Treasury security is basically a Certificate of Deposit (CD). You are paid interest for leaving your money in a savings account for an agreed-to amount of time. Your money is on loan to the bank. It is both a debt and an asset for the bank. If you withdraw your money early, you don’t get the interest. While your money is in the savings account, it cannot be spent, and therefore it assumes the status of “reserves” for the bank. In regular banks, CD’s are insured by the FDIC. With the Fed, T-securities are insured by the Fed itself (or if you prefer, insured by the U.S. government). The Fed has $20 trillion in reserves (i.e. deposits).

Of course, none of this is physical. It’s all just numbers on spreadsheets.

Regarding Michael Hudson, I agree with most of what he says, but Hudson too is confused about the “national debt.” Hudson is, however, correct about what I call the “financialization” of the economy. That is, there are two economies: the financial economy and the real economy. The financial economy entails rentiers, private debt, speculative markets, and making money from money. It is a deadly parasite on the real economy, which is the realm of buying and selling goods and services in the conventional way.

The differences between the two economies are something that Rodger Mitchell has never been able to grasp.

Beaner: June 15, 2017 at 9:30 pm

In my humble opinion, calling proponents of MMT “clowns” is counterproductive; the political climate is already FUBAR and insulting/mocking the people who agree with you on major issues (e.g. the federal gov is not broke) will not get us anywhere.

elizabethharris001: June 16, 2017 at 10:10 am

Thanks for visiting and commenting. MMT people’s understanding of money is 99.5% correct. Unfortunately they don’t want to take the final step (the remaining 0.5%). For example, they cling to absurdities such as their “taxes drive money” mantra.

Oh well.

Luck: June 22, 2017 at 7:41 pm

Wow. Eliz. Harris sounds smart. I’ll have to look for more of her info and encourage governments to heed her advice. What about “sovereign money”? Is it on the right track?

 on: June 22, 2017, 11:40:20 pm 
Started by Luck - Last post by Luck
Socialism And The Incentive Problem

President Trump considers breaking up large banks

In brief: the economics of Hyman Minsky

In praise of cash

Basic Income

Translation and Blockchain Technology

Sloppy thinking: major reason we have rich and poor

How meanness and zigzaggery jeopardize your lifestyle

 on: June 22, 2017, 08:33:18 pm 
Started by Instinct2Bfree - Last post by Instinct2Bfree
Here's what I'll say about the unorganized territories in Maine, Upper Enchanted being one of them : There is no government within the township : No mayor,selectmen,politicians thugs (police), indoctrination camp (school), town hall etc. We have what's called a "road association" and that's it. We chip in $250/yr for the common interest of preserving access to our land/camps. The gang of course feels the need to steal money from us in the form of state taxes which are extremely low. Another thing: Take the amount of oppressive agents (state cops,town cops,politicians,corporate offices,gang (govt) offices) within a 50 mile radius of Concord,Manchester,Nashua,or Keene and the number would be in the 10s of thousands. A 50 mile radius of Jackman maybe a couple hundred total. You won't find corporate america besides gas stations for 60+miles. This area is ideally suited for FREEDOM LOVERS and INDEPENDENT hard working nature lovers. The moose population outnumbers the govt-thug population 1000-1. I'll bet there are a few "SHIRES" or "FREESTATERS" that would love a big off-grid spread up in the mountains that's AFFORDABLE! This area is it. More than just what you see on MLS for sale too! Respond with info if you're serious and we'll give you a tour. All the respect in the world for the FSP.It is made up of the bravest free-est people in this land. We will be spreading outside of this fictional/statist boundary called "new hampsire".  Thanks,Instinct2Bfree

 on: June 22, 2017, 08:31:27 pm 
Started by Luck - Last post by Luck
Learning Reimagined with Zakiyya Ismail

Unschooling for life: Picky eater solutions

Cherrylicious Unschooling Mumma: Our Natural Journey & How It Lead To Unschooling

RadiCool Unschooling

Okay, Crazypants, What’s Radical Unschooling?

Fucking Lego (and an insight into what unschooling our homespace looks like)

Unschooling Maths - your best apps? (20 Posts)

Unschooling – The Unconventional Schooling

Choosing Home with Kerry McDonald

"The answer to most problems is in a box labeled MORE ATTENTION”

"What about socialization?"

How to Successfully Make the Transition to Homeschooling

Raising Human Beans: "Un"Schooling

 on: June 22, 2017, 02:17:23 pm 
Started by Instinct2Bfree - Last post by Instinct2Bfree
Those parts of the deed actually look worse than they are. I suggest talking to the abutters up there if your interested. You are pretty much left alone up there with whatever you do. There is a possibility that "blackie" is an infiltrator (aka cop lover).

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