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Author Topic: Future School: POVERTY BY SLOPPY THINKING (Get Smart Blog)  (Read 7379 times)

Luck

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Re: Future School URGENT POLITICS (Get Smart Blog)
« Reply #30 on: November 10, 2016, 11:35:57 pm »

(Is the following story true?)

Police Calm Millennial Post-Election Rioters By Handing Out Participation Trophies
http://babylonbee.com/news/police-calm-millennial-protesters-handing-participation-trophies

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Luck

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Re: Future School (Get Smart Blog)
« Reply #31 on: November 26, 2016, 04:31:10 pm »

3622
POLITICS
Since Facebook is becoming the new MSM with likely the same neoliberal/neocon bias, it seems important to consider how to stop or prevent such a monopoly on info. So following are articles on that.

(2012) Understanding Facebook's Monopoly
http://www.datamation.com/commentary/understanding-facebooks-monopoly-1.html

(2012) Why We Cannot Rely On Facebook Becoming A Monopoly To Boost The Stock Price [a near monopoly ain't good either IMO]
http://www.forbes.com/sites/timworstall/2012/10/09/why-we-cannot-rely-on-facebook-becoming-a-monopoly-to-boost-the-stock-price/#74062ae751ee

(2014) Facebook: The New Face Of A Monopoly
http://seekingalpha.com/article/2569355-facebook-the-new-face-of-a-monopoly

(2015) Why we should just nationalize Facebook
http://theweek.com/articles/582042/why-should-just-nationalize-facebook

(2014) How social media is reshaping news
http://www.pewresearch.org/fact-tank/2014/09/24/how-social-media-is-reshaping-news

(2015) The Evolving Role of News on Twitter and Facebook
http://www.journalism.org/2015/07/14/the-evolving-role-of-news-on-twitter-and-facebook

(3 days ago) Facebook’s Quest to Stop Fake News Risks Becoming Slippery Slope
https://www.bloomberg.com/news/articles/2016-11-23/facebook-s-quest-to-stop-fake-news-risks-becoming-slippery-slope

Fake News, Trump and the Pressure on Facebook: QuickTake Q&A
https://www.bloomberg.com/news/articles/2016-11-25/fake-news-trump-and-the-pressure-on-facebook-quicktake-q-a

(Yesterday) Don't let Mark Zuckerberg destroy the internet
https://medium.freecodecamp.com/mark-zuckerberg-is-the-most-powerful-person-on-earth-but-is-he-responsible-5fbcaeb29ee1#.fwbcwm346

Shortly after the election StyxHH made this video, predicting apparently that the MSM will fail online, but I'm not so sure:
- The Legacy Media is Pulling Out All Stops to Monopolize the Web (It Won't Work [he says])
https://www.youtube.com/watch?v=yT82Gn_DobM

Here's what he said similarly shortly before the election:
- The Legacy Media is Dying, The Decentralized, International Press Is Rising
https://www.youtube.com/watch?v=GTTiGOHW3L4

Here he discusses his strategy for improving society with memes etc:
-(11 days ago) Spiritual, Memetic Propaganda: An Explanation for the Rationalists
https://www.youtube.com/watch?v=zB33z_lsyJ0

Here's an older article by someone else with some good reasoning doubting memes, so I'm skeptical that memes will improve society:
-We hate memes, pass it on…
https://neuroanthropology.net/2008/06/12/we-hate-memes-pass-it-on
« Last Edit: November 26, 2016, 04:37:22 pm by Luck »
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Re: Future School: CIA HAS WIKILEAKS (Get Smart Blog)
« Reply #32 on: November 29, 2016, 11:01:22 pm »

3711
(See Facebook Tyranny Danger in previous recent post.)

POLITICS
Wikileaks Is Gone
http://right.is/politics/2016/11/wikileaks-is-gone-73455.html
(Before It’s News)
(See possible original copy here: https://pbs.twimg.com/media/Cxj18GhW8AEHEvO.jpg )
(See also: Insider At WikiLeaks HQ Confirms The Worst, Assange DEAD MAN Switch Pulled at https://nworeport.me/2016/11/23/insider-at-wikileaks-hq-confirms-the-worst-assange-dead-man-switch-pulled )

If by now you haven’t figured out that Facebook and Google are in cahoots with the corrupt government, then I feel for you, but for those who are well aware of the issues it’s high time you switched over to Seen.life. It is a website that is similar to Facebook but without all the censorship.

Wikileaks is gone….from a series of posts at Jim Stone Freelance (edited for clarity):

File 35468d804a564f8..• jog ms.se KB. 971×756 971:756 wikileaksi/VUsDxRzwY 11/17/16 (Thu) 18:38:35

I’m one of the 15 WikiLeaks personnel that were raided at the same time Julian’s internet was cut at the Ecuadorian embassy. I was issued a national security letter and a gag order, and all my computer equipment was seized. We had several contingency communication plans in place, and I have been unable to contact Julian or any WikiLeaks personnel except for one through our alternative communication channels.

Julian is missing as are most of the WikiLeaks personnel that I had regular communications with. WikiLeaks personnel are NOT in control of the official Twitter account. The WikiLeaks IAMA on Reddit was NOT conducted by WikiLeaks personnel.

TthreeciDuproesSpaititya:ilzrtahveerialCoonastt prevented the deadman’s switch from being activated. There is a contingency plan, but

There has been an incredible charade to keep up the appearance that Julain is fine. Several trusted people are obviously under duress as I cannot imagine any reason why they would promote the charade.

•wittileakst/VUsDxRzwY 11/17/16 (Thu) 18:44:44

i Of our infrastructure. Do NOT submit leaks, you WILL be identified.

I will attempt to activate the deadman’s switch using the final contingency plan. You will have your proof if I succeed.

•Anonymous 11/17/16 (Thu) 184458 ID: 000000 No.8281681   I want proofs. You’re not using tor for example which raises questions.

(this guy is a clown…Tor is US govt funded and all the exit nodes are controlled by security agencies)

• wikileaks,NUsDxRzwY 11/17/16 (Thu), exit nodes are owned by intelligence agencies.

(correct)

•wikileaksINUsDxRzwY 11/17/16 (Thu) 190147

Its very technical and complicated, but long story short, they exploited a loophole we did not consider.

• wikileaksiNi_isDxRzwY 11/17/16 (Thu)loet that seized my computer equipment and interrogated me claimed to be CIA and had CIA documentation. I suspect work with the CIA, but the GHCQ will.

I am breaking my gag order by posting here, and they will try to track me down. I know I am forfeiting my life by doing this, but I have to warn potential leakers.

• wikileaks1/ViJsDxR,,, 11/17/16 (Thu) 19:32:13

We have hundreds of thousands of emails and documents from secret think tanks. We have proof of child exploitation of children in Haiti and the U.K. by the Clinton Foundation. Child exploitation in EVERY COUNTRY is run by the same people at the top. We have proof that the drug market is controlled by intelligence agencies to fund black projects. We received these leaks from several sources including the NSA, FBI. NYPD, France’s DGSI, Interpol, Scotland Yard, and Switzerlands MND. Our Podesta leaks were automated and they decided to let them continue because they knew the contents and did not deem them a threat to national security, and they wanted to keep up the charade that WikiLeaks was still operational. Phase 3, the Clinton Foundation mails, were also automated, however, they shut these leaks down due to national security (U.S.) security.

The destruction of WikiLeaks was an unprecedented global effort.

• wikileaks,UsENR,, 11/17/16 (Thu)
<a href=”http://us-ads.openx.net/w/1.0/rc?cs=fiInstance_100920_20_6784212_iframe&cb=cd82cf0819&c.zoneid=fiInstance_100920_20_6784212&r0=http://cdn.firstimpression.io/delivery/ck.php?oaparams=2__bannerid=9274__zoneid=100920__cb=cd82cf0819__oadest=” ><img src=”http://us-ads.openx.net/w/1.0/ai?auid=538505082&cs=fiInstance_100920_20_6784212_iframe&cb=cd82cf0819″ border=”0″ alt=””></a>

due to public outrage. The CIA is at war with the NSA due to an exponential rise in technology and surveillance capabilities. The NSA became aware of the CIA’s global governrnent manipulation, especially the manipulation of the U.S. and U.K. governments, and their global child exploitation and blackmail network. The CIA and the people they protect are the old power structure.   Phase 3, the Clinton Foundation email, would have dealt a huge blow to the old power structure which is why they prevented the release of the emails at all costs. If there was a question about Julian’s safety, he would immediately appear at the balcony window to the public. He would not want the reputation and credibility of WikiLeaks to be in question.

-----

https://www.reddit.com/r/conspiracy/comments/58pr9d/wikileaks_on_twitter_mr_assange_is_still_alive/d92ggkt

Wikileaks.com, @Wikileaks Twitter and /r/Wikileaks has been seized by the CIA and (presumably) GHCQ intelligence agencies!

Please See: https://pbs.twimg.com/media/Cxj18GhW8AEHEvO.jpg

Messages from Wikileaks staff to Supporters:

    "I advise whistleblowers to NOT SUBMIT LEAKS since we are not in control of our infrastructure. The people in control of our infrastructure will use it to identify and prosecute whistleblowers."

    "Tor is compromised, exit nodes are owned by intelligence agencies."

    "We have hundreds of thousands of emails and documents from secret think tanks. We have proof of child exploitation of children in Haiti and the UK by the Clinton Foundation. Child exploitation in every country is run by the same people at the top. We have proof that the drug market is controlled my intelligence agencies to fund black projects."

    "We received these leaks from several sources including the NSA, FBI, NYPD, France's DGSI, Interpol, Scotland Yard, and Switzerland's MND. Our Podesta leaks were automated and they decided to let them continue because they know the contents and did not deem them a threat to national security and they wanted to keep up the charade that Wikileaks was still operational."

    "Several prominent people, including leaders of foreign governments (France, Italy, China) are implicated in the (confirmed) pedophile ring. If this information is released, entire Governments will collapse bringing the world economy with it. The Destruction of Wikileaks was an unprecedented global effort."

Please Also Share: https://sli.mg/a/ybiz3L

Uncensored Discussion: https://voat.co/v/pizzagate/

Note: The CIA has officially compromised Voat. Please use https://gab.ai/ to avoid censorship.
« Last Edit: November 30, 2016, 12:04:33 am by Luck »
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Luck

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Re: Future School: CIA HAS WIKILEAKS (Get Smart Blog)
« Reply #33 on: December 02, 2016, 08:34:32 pm »

3780
POLITICS

Wikileaks
It still doesn't seem certain that Wikileaks founder Assange is safe in the Ecuadoran embassy, or if he's been taken into custody. The U.N. has ruled that he must be freed, but I don't think he has been as of yet. This article discusses the suspicions.

Where is Wikileaks Founder Assange?
http://www.inquisitr.com/3759147/where-is-julian-assange-after-pizzagate-clinton-emails-cia-claims-un-ruling-news

MAGA
We won't make America great again till we end the corruption that resulted in the assassinations of JFK, RFK, MLK & Malcolm X etc. Following are important revelations.

Selected Articles: Truth Behind Martin Luther King’s Assassination by the Government
http://www.globalresearch.ca/selected-articles-truth-behind-mlks-death-demonetization-in-india-nigel-farage-and-us-british-relations/5559574

Prep to Dismantle the Police State
http://celdf.org/2016/11/blog-police-state-policing-police-hows-working

« Last Edit: December 02, 2016, 10:04:21 pm by Luck »
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Re: Future School: WW2 PROPAGANDA (Get Smart Blog)
« Reply #34 on: December 06, 2016, 11:49:14 pm »

3856
(See previous post from 4 days ago for some good Politics article links.)

HISTORY
WW2 Era

The Myth of German Villainy (2012) <<PART 1>>
This book was written by a former U.S. Navy pilot (from  1955-1977) who did research on this subject.
Chapter #'s and titles:
1. The Myth of Germany as an Evil Nation
2. Aftermath of the War in Germany (WW1)
3. The Jewish Factor in the War
4. The Russian Revolution of 1917
5. The Red Terror
6. The Bolshevik Revolution Spreads throughout Europe
7. The Nation of Israel
8. Jews in Weimar Germany
9. Hitler & National Socialists Rise to Power
10. National Socialism vs. Communism
11. Jews Declare War on "Nazi" Germany
12. The National Socialists and the Zionists actually work  together for Jewish Emigration out of Germany
13. Life in Germany under Hitler
14. Hitler Begins Reclamation of German Territory
15. The 1936 Olympics
16. "Anschluss." The unification of Austria and Germany
17. Germany annexes the Sudetenland
18. War with Poland
19. The Phony War
20. Germany invades France through the Low Countries. The  Phony War ends.
21. The Allied Goal? Destruction of Germany
22. Germany as Victim
23. Winners and Losers
Bibliography (91 books used for reference in addition to  those cited in the text)

1. Germany was portrayed as evil among the allies since WW1.  Examples of false propaganda are given from the movies,  "Schindler's List" and "Sophie's Choice". Before WW1 Germany  was regarded as a nation of peace and freedom. With the  outbreak of WW1 western media began making ridiculous  hysterical claims about the German military supposedly  bayonetting babies, raping and mutilating children etc, all  of which was proven false after the war, while German  propaganda merely portrayed the allies as mischievous.

2. In the aftermath of the war nearly a million Germans,  mostly women, children and the elderly, starved to death due  to Britain's blockade. The Versailles Treaty forced Germany  to make yearly reparations beyond its ability to pay, even  though Britain was the initiator of the war. The author  contends that the real reason for the war from Britain's  perspective was that Germany was becoming too competitive  economically. "Had America stayed out of [WW1], it is almost  certain that the war would have ended in a negotiated peace  with neither side achieving a victory. There would therefore  have been no Versailles Treaty." And the road to WW2 would  have been avoided.

3. American and British Jews at the WW1 Paris Peace  Conference prevented Woodrow Wilson's sane proposals from  being adopted and instead got the infamous Versailles Treaty  forced through.

4. The Bolsheviks of the Russian Revolution were almost all  Zionist Khazar Jews who terrorized the Russian people. The  earlier Russian pogroms expelled Khazar Jews from  communities, because they were clannish revolutionaries who  wanted to take over the government through violence. The  people knew that Jews were largely behind the violent French  Revolution too. German-Jewish and American-Jewish bankers  financed the Russian Revolution.

5. The Red Terror was the Jewish Bolsheviks torturing and  murdering people throughout Russia and causing famine such  as in Ukraine.

6. Europe's Nationalists, such as Mussolini in Italy, Franco  in Spain, Hitler in Germany, and others, were heroes who  saved their countries from Jewish Bolshevik terrorism in the  1920s.

7. Jews called themselves the Nation of Israel long before  the present nation of Israel formed. Christians and Muslims  considered usury to be a sin, so they did not lend out money  for interest, but the Jews did not recognize this sin, so  they got into excessively profitable banking by charging  usury, i.e. interest. Russia was a center of Jewish power  until after WW2. But many Russian Jews migrated to Israel  thereafter, so now the centers of Jewish power are the U.S.  and Israel. The 9/11 attacks and subsequent Middle East wars  have benefited Israel most of all.

8. The 1848 revolutions in Europe emancipated Jews who were  then able to help each other rise to positions of power in  commerce and professions. After WW1 they became free to rise  also in power in government. Since the Jews did not  assimilate into European culture, they were seen as aliens  who were controlling the native people's societies. "We  cannot permit an alien race to impose upon our working  people as their leaders" said Hitler.

9. In the early 1920s Germany had the largest Communist  Party in Europe, which was 78% Jewish. At that time Jews  were in complete control of Russia and in partial control in  Germany, France, Britain and the U.S. The Nazis realized  that Germany was ready to fall to the Red Terror, so they  determined to remove Jews from power in Germany. When Hitler  made their plan public, Jewish controlled media began a  relentless propaganda campaign against them. Hitler's large  group of supporters tried to take over the government of  Munich, but some were arrested. A sympathetic judge  sentenced Hitler to only 5 years, but he was pardoned after  8 months. He wrote his book while in prison. Hitler favored  German expansion into Russia whose leaders and aristocracy  had been German. The author contends that the Jews were  behind multiculturalism, open immigration and racial mixing  in Germany as a mean'[s to undermine German cohesion, and are behind similar ideas in the U.S. and Europe today for  similar reasons. When Hitler became leader of Germany, he  made great economic accomplishments for the nation.

10. National Socialism (NatSoc) was in defense of Western Christian civilization while Communism was dedicated to its destruction. NatSoc favored private property and market economy, while Communism abolished private property and used government central planning for the economy. NatSoc developed in 1918 as a response to Bolshevik Communism. Hitler never believed in a master race and never supported any program to breed a master race. Communism was never a dictatorship of the protaleriat, but of the Jewish elite. Bolsheviks pursued revenge against Russians. Revenge is a Jewish imperative. They killed 40 million Christian Russians.

11. Since Hitler threatened to remove Jews from political office in Germany, when he was elected Chancellor in 1933, the Jewish Diaspora, the world's most powerful trading and political bloc, declared war on Germany. They had been publishing propaganda against Hitler since 1921. In 1933 they went into hysterical mode and began a boycott of Germany. The American leader of the International Jewish Boycott Conference falsely accused Germany of committing atrocities against Jews. In 1952 Frank Britton explained that the Jewish persecution myth has been taught to Jews for centuries, but it ignores the fact that Jews have been responsible for persecuting others. When others then react in self-defense against Jewish persecution, Jews have complained of being victims. When an Englishman interviewed Jews in Germany, he found that the accusations of atrocities were unfounded. But such reports were not covered in the media.

12. Only about 600,000 Jews lived in Germany and Austria in the early 1930s. About 400,000 of them were peacefully removed by late 1941, so only 200,000 remained. In 1940 the Jewish news agency in Palestine, Palcor, said 500,000 Jews had immigrated from the German empire, but after 1950 it was claimed that only 80,000 Jews had left the German empire.

13. Germany prospered under Hitler, partly because it took control of the banks. Hitler was the world's most popular leader. Propaganda against Germany nonetheless continued.

14. In 1935 Hitler defied the Versailles Treaty and announced that Germany would start rebuilding its military. In 1936 Germany re-occupied the Rhineland.

15. At the 1936 Olympics in Germany the Olympic gold medal winner, Jesse Owens, a black man, met with Hitler and found the German people to be friendly and not at all racist. But Jewish propaganda continues to deny it.

16. In 1938 Austria and Germany voted over 99% to unite Austria with Germany. The Austrian economy quickly improved.

17. In 1939 Hitler and Britain's Chamberlain worked out an agreement to divide the newly formed country of Czechoslovakia back into 4 parts with Germany, Hungary and Poland retaking parts containing their populations. Hitler then made the remainder of Czechoslovakis, i.e. Bohemia and Moravia, a German protectorate to prevent them from being invaded by communist Russia. Britain's Churchill was anti-Jewish regarding the Russian Bolshevik Jews, but supported British Zion Jews. Churchill and F.D.Roosevelt were the primary war mongers of the time. He wanted to deflect Jews away from terrorism in Europe and to get them to be partners in imperialism against Arabs. Britain's war mongers pretended that Germany was terrible for annexing the Sudetenland part of Czechoslovakia where German people lived, but they said nothing about Poland annexing the Polish part, or Hungary for annexing the Hungarian part.
« Last Edit: December 06, 2016, 11:53:28 pm by Luck »
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Re: Future School: WW2 PROPAGANDA (Get Smart Blog)
« Reply #35 on: December 07, 2016, 12:25:20 pm »

HISTORY
(NOTE: I'm not antisemitic. I favor the Christian concept of loving everyone and harming no one. The Jewish, Christian and Muslim Bibles are often interpreted as promoting cruelty and injustice, but I believe those interpretations are incorrect. Wrong interpretations promote racism among all races. Let's end such nonsense, which thwarts human progress. Let's make the world better for all.)

WW2 Era

The Myth of German Villainy
(2012) <<PART 2>>

18. Hitler publicly declared since the 1920s his hope of reunifying all Germans who were separated after WW1 and many people around the world still thought it was reasonable in the late 1930s as German lands and people were gradually reunited. But mostly Jewish propaganda in the major media pretended that Hitler wanted to take over the world. The fact that he renounced claims to the Alsace-Lorraine section of France proves this was false. As Hitler was negotiating an agreement with Poland for access to German territory, the Kristalnacht incident occurred. A young Jew killed a German embassy official in Paris in revenge for deportation of Jews from Germany. The German people heard about the killing and, being frustrated with Jewish propaganda against Germany, German youths in many cities broke windows and burned synagogues. Hitler's government denounced the violence and threatened to imprison anyone involved.

But the international media stepped up propaganda efforts, calling for war. Many German Jews in the film and motion picture industry moved from Germany to Hollywood and proceeded to make films promoting hatred of Germany. F.D.Roosevelt envied Hitler's successes with Germany's economy and hated him passionately, while completely overlooking the mass killings of ethnic Russians promoted by his buddy, Stalin, in Communist Russia (U.S.S.R.). FDR's administration encouraged France and Britain to take actions that would precipitate war with Germany. The U.S. was hampered however from making war by its strong antiwar movement.

U.S., British and French war mongers made a deal with Poland declaring that Britain and France would come to Poland's aid if Germany attacked Poland. So Poland encouraged violence against Germans in the NW Polish Corridor territory. Poles and Bolshevik Jews murdered about 58,000 Germans. When Hitler's many peaceful efforts to stop the abuses failed, he decided to invade the corridor to protect the many Germans still there. Stalin of Russia didn't want to make the agreement with the allies regarding Poland, because he didn't want to end up fighting Germany alone, so he and Hitler made a non-aggression pact. Hitler did it to make it safe to enter the Polish Corridor. In August 1939 Poland was aggressively engaging in skirmishes in German areas along the Polish border. Finally on September 1 Germany invaded Poland. Britain and France then declared war on Germany, though they had no means to engage in war in Poland. When Russia invaded Poland weeks later, Britain and France expressed no concern, proving they were not interested in helping Poland, but only in destroying Germany. Poland could have prevented WW2 and the loss of millions of Poles and the decades of suppression under the U.S.S.R., had it been willing to make a reasonable agreement with Germany regarding the Polish Corridor.

19. Britain and France blockaded Germany and a sea battle broke out. Churchill became the new Prime Minister of Britain and promoted all-out war with Germany.

20. To prevent Britain and France from invading Germany Hitler had his forces invade France through the low countries. Instead of murdering the allied troops on the coast of France at Dunkirk, Hitler allowed them to go by boat to Britain, proving he was not aggressive. The books, "Roosevelt's Secret War" by Perisco and "Day of Deceit" by Stinnett, show that FDR provoked Japan to attack Pearl Harbor and he refused to warn the commanders at Pearl Harbor of the attack, so he could declare war on Japan and Germany. Jews surrounded both Churchill and Roosevelt and controlled the information and news media with false propaganda, so they were largely responsible for the war.

21. The Jewish author and fellow Jews devised the Lindemann Plan to bomb civilian targets in Germany. Millions of German civilians were killed in the bombings, including refugees fleeing from Russian invaders in the east. The Morgenthau Plan was to divide up Germany after the war and give its industry to Russia. Churchill reluctantly agreed to the plan, because Britain was broke and with the plan was a promise of 6.5 billion dollars. The war was obviously largely a racist Jewish plot for a holocaust against Germans. The Nuremburg trials after the war were a kangaroo court controlled by Jews, who believed the Zionist propaganda just like others did.

22. Hitler outlawed Communism in 1933 and had revolution-promoting Communists executed. Most of them were Jews and this angered Jews elsewhere. They falsely claimed that Germany was trying to exterminate the Jewish race and during the war was doing this in concentration camps. There were undoubtedly forced labor camps in Germany, but only for those who opposed Germany. Many Jews were free and unharmed in Germany during the war. Many in the camps were not Jews.
The book, "Target Patton" by Bazata, says snipers followed the advancing allies and murdered wounded German soldiers who had surrendered. At the end of the war 1,800 British and U.S. fighter planes destroyed German infrastructure and killed as many German refugees as they could. Germans began to starve for lack of food and people in labor camps began to starve for the same reason. Stalin's propaganda minister had pamphlets air-dropped to Russian troops invading Germany, saying Germans are our enemy. You must rape and kill all Germans. They are not human. Russian and Jewish invaders committed terrible torture and murder against large numbers of German men, women and children. The allies only stopped the cruelty against Germans, because they needed German cooperation in the Cold War.

23. All countries controlled by the U.S.S.R. after the war were ruled by Jews. Jews gained the most of anyone from the war, though many pretend they were the main victims. This was admitted by numerous Jews in power. Most Jews left Russia after stealing a large share of its wealth. They moved to Israel and the U.S. They continue to control western nations via the neocons and neolibs.
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Re: Future School: HISTORY NOW (Get Smart Blog)
« Reply #36 on: December 23, 2016, 11:49:38 pm »

4095
POLITICS
History Now

Looks like Assange is still okay and in the Ecuadoran embassy. Here below is part of his latest interview. Before the election he predicted that the establishment would not permit Trump to win. (See http://www.zerohedge.com/news/2016-10-27/assange-predicts-trump-will-lose-accuses-clinton-campaign-trying-hack-wikileaks .) He was apparently wrong, but doesn't mention that here.

Julian Assange: “Donald? It’s a change anyway”
http://notiziedelgiorno.com/julian-assange-donald-its-a-change-anyway

Repubblica met Julian Assange in the embassy, nicely decorated for the Christmas season.

In a famous interview, you declared that at the beginning you thought that your biggest role would be in China and in some of the former Soviet states and North Africa. Quite the opposite, most of WikiLeaks’ biggest revelations concern the US military-industrial complex, its wars in Afghanistan and in Iraq and its serious human rights violations in the war on terror. These abuses have had a heavy impact in an open and democratic society like the United States and produced ‘dissidents’ like Chelsea Manning willing to expose them. Why aren’t human rights abuses producing the same effects in regimes like China or Russia, and what can be done to democratise information in those countries?

“In Russia, there are many vibrant publications, online blogs, and Kremlin critics such as [Alexey] Navalny are part of that spectrum. There are also newspapers like “Novaya Gazeta”, in which different parts of society in Moscow are permitted to critique each other and it is tolerated, generally, because it isn’t a big TV channel that might have a mass popular effect, its audience is educated people in Moscow. ... We have published more than 800,000 documents about or referencing Russia and president Putin, so we do have quite a bit of coverage, but the majority of our publications come from Western sources, though not always. For example, we have published more than 2 million documents from Syria, including Bashar al-Assad personally. Sometimes we make a publication about a country and they will see WikiLeaks as a player within that country, like with Timor East and Kenya. The real determinant is how distant that culture is from English. Chinese culture is quite far away”.

What can be done there?
“We have published some things in Chinese. It is necessary to be seen as a local player and to adapt the language to the local culture”.

There is strict control of the web in China…
“China banned us in 2007, we have worked around that censorship at various times, publishers there were too scared to publish [our documents]. The feeling is mixed within China: they of course like to see the Western critique that a number of our publications enable. China is not a militaristic society, they don’t see they have a comparative advantage in making warfare, so they presumably like general critiques of war, but it is a society that is authority-structured, which is terrified of dissidents, whereas if you compare it to Russia, it too is an increasingly authoritarian society, but one that has a cultural tradition of lionising dissidents”.

WikiLeaks published documents on Hillary Clinton and the US Democrats. How do you reply to those who accuse you of having helped to elect Mr. Trump?
“What is the allegation here exactly? We published what the Democratic National Committee, John Podesta, Hillary Clinton’s campaign manager, and Hillary Clinton herself were saying about their own campaign, which the American people read and were very interested to read, and assessed the elements and characters, and then they made a decision. That decision was based on Hillary Clinton’s own words, her campaign manager’s own words. That’s democracy”.

Do you agree with those who say that it was a hit job, because you hit Hillary Clinton when she was most vulnerable, during the final weeks of her campaign?
“No, we have been publishing about Hillary Clinton for many years, because of her position as Secretary of State. We have been publishing her cables since 2010 and her emails also. We are domain experts on Clinton and her post 2008 role in government. This is why it is natural for sources who have information on Hillary Clinton to come to us. They know we will understand its significance”.

So Clinton is gone, has WikiLeaks won?
“We were pleased to see how much of the American public interacted with the material we published. That interaction was on both sides of politics, including those to the left of Hillary Clinton those who supported Bernie Sanders, who were able to see the structure of power within the Democratic National Committee (DNC) and how the Clintons had placed Debbie Wasserman Schultz to head up the DNC and as a result the DNC had tilted the scales of the process against Bernie Sanders”.

What about Donald Trump? What is going to happen?
“If the question is how I personally feel about the situation, I am mixed: Hillary Clinton and the network around her imprisoned one of our alleged sources for 35 years, Chelsea Manning, tortured her according to the United Nations, in order to implicate me personally. According to our publications Hillary Clinton was the chief proponent and the architect of the war against Libya. It is clear that she pursued this war as a staging effort for her Presidential bid. It wasn’t even a war for an ideological purpose. This war ended up producing the refugee crisis in Europe, changing the political colour of Europe, killing more than 40,000 people within a year in Libya, while the arms from Libya went to Mali and other places, boosting or causing civil wars, including the Syrian catastrophe. If someone and their network behave like that, then there are consequences. Internal and external opponents are generated. Now there is a separate question on what Donald Trump means”.

What do you think he means?
“Hillary Clinton’s election would have been a consolidation of power in the existing ruling class of the United States. Donald Trump is not a DC insider, he is part of the wealthy ruling elite of the United States, and he is gathering around him a spectrum of other rich people and several idiosyncratic personalities. They do not by themselves form an existing structure, so it is a weak structure which is displacing and destabilising the pre-existing central power network within DC. It is a new patronage structure which will evolve rapidly, but at the moment its looseness means there are opportunities for change in the United States: change for the worse and change for the better”.

In these ten years of WikiLeaks, you and your organisation have experienced all sorts of attacks. What have you learned from this warfare?
“Power is mostly the illusion of power. The Pentagon demanded we destroy our publications. We kept publishing. Clinton denounced us and said we were an attack on the entire “international community”. We kept publishing. I was put in prison and under house arrest. We kept publishing. We went head to head with the NSA getting Edward Snowden out of Hong Kong, we won and got him asylum. Clinton tried to destroy us and was herself destroyed. Elephants, it seems, can be brought down with string. Perhaps there are no elephants”. ...
« Last Edit: December 23, 2016, 11:56:24 pm by Luck »
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Re: Future School: HISTORY NOW (Get Smart Blog)
« Reply #37 on: March 05, 2017, 07:46:16 pm »

5118
POLITICS
I think the following linked article does a pretty good job of explaining how Democrats are no longer Leftist/Progressive.

An open letter to 'the Left': In which I try and explain how a Far-Left liberal voted for Trump (same here)
http://saloftheearth.com/blogs/2017/3/4/post-16-an-open-letter-to-my-friends-on-the-left

SCIENCE
The Left needs to stop putting its faith in Science. Religion is often worse, but it's best to be skeptical of everything, because of potential corruption. See the following example.

"Peer Reviewed:" Science Losing Credibility As Large Amounts Of Research Shown To Be False
http://wakingscience.com/2017/03/peer-reviewed-science-losing-credibility-large-amounts-research-shown-false
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Re: Future School: ECONOMIC WISDOM (Get Smart Blog)
« Reply #38 on: March 17, 2017, 10:28:55 pm »

5439
ECONOMICS

(I think the following article may be kind of important, esp. the latter half, like regarding a "public option".)

How Bankers Became the Top Exploiters of the Economy
https://www.therussophile.org/how-bankers-became-the-top-exploiters-of-the-economy.html
« Last Edit: March 27, 2017, 01:09:37 pm by Luck »
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Re: Future School: PREPAREDNESS (Get Smart Blog)
« Reply #39 on: March 27, 2017, 01:07:47 pm »

5663
PREPAREDNESS

BEWARE OF THREATS

Focus on threats to your community or circle of friends, because you probably won't like surviving alone much.

Meet with your circle of loved ones and discuss improving yourselves and your relationships with each other.

Help each other learn survival skills.

Learn self-defense.

Study information on the main threats to society. Some of the main threats are:
- Elitist conspiracy
- Corruption in politics
- Media misinformation
- Education system misinformation
- Global cooling and natural disasters
- Criminals
- Terrorists
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Re: Future School: PREPAREDNESS (Get Smart Blog)
« Reply #40 on: April 09, 2017, 03:43:35 pm »

5857
HISTORY

Bro said to check these out:

1. Video: "Can you handle the Facts about Jews?"
2. Jew Watch: http://www.jewwatch.com
2. Ben H Freedman
3. The General's Son, by Mike DeLeb
4. Genealogy, by Dr. Kevin MacDonald

I'm not biased against Jews myself, except for Zionists and Talmudists.
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Re: Future School: CORRUPT ECONOMICS (Get Smart Blog)
« Reply #41 on: June 08, 2017, 09:22:55 pm »

6937
(See also Socialism And The Incentive Problem
https://www.hiddendominion.com/socialism-and-the-incentive-problem)

CORRUPT ECONOMICS
BANKERS CONTROL POLITICIANS WHO GUARANTEE STUDENT LOANS BY TAXPAYERS
   
Another Housing Bubble?
By Michael Wednesday, May 24, 2017 Interviews housing affordability, student debt   Permalink

TRNN, May 24, 2017.

Economist Michael Hudson explains that even though housing prices are back up at 2008 levels homeownership is at a much lower level and banks have their loans guaranteed by the US government

SHARMINI PERIES: It’s The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. Just prior to the economic collapse of 2007-2008 there were several economic indicators which could have given us a clue of the impending disaster. If we look at the economic situation today in the US, we find many of these very same indicators. Housing prices are getting very high. Credit card debt has begun to rise again. Student loans are in default, many of them, and the stock and bond markets reached an all-time high.

Are we actually in another housing bubble just nine years later? On to talk about this with me is Michael Hudson. Michael is Professor of Economics at the University of Missouri, Kansas City. He is the author of The Bubble and Beyond and Finance Capitalism and Its Discontent. His most recent book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy. That’s actually not his latest book. His latest book, which we have covered extensively, is J is for Junk Economics. Michael, good to have you with us.

MICHAEL HUDSON: Good to be here.

SHARMINI PERIES: Michael, about 10,000,000 families lost their homes in the 2007-2008 crash, and many of these homes were bought by hedge funds such as the ones organized by Blackstone let’s say. The hedge funds didn’t really resell the housing that they bought, but rather hung onto them and rented them instead. But let’s really start off with the indicators that you had highlighted for me in an email, saying we might already be there in terms of another crisis. Give us the essence of what those indicators are and why you predict that.

MICHAEL HUDSON: Many of the indicators may be the same, but the character of the crisis is very different now from what it was in 2008. You mentioned, for instance, that real estate prices now exceed their early 2008 levels. All that’s true, but as you just pointed out, 10,000,000 people have already lost their homes. That’s what economists call housing moving from weak hands into strong, and they applaud that because instead of poor families, minorities, African-Americans and Hispanics buying homes that are way beyond their ability to pay the mortgage on, these houses have already been lost or foreclosed and Blackstone bought them, and other hedge funds bought them. They bought them with cash.

The reason they did that (instead of by the debt leveraging – the basic real estate strategy since World War I), is that interest rates available on bonds are so low. More money can be made as landlords than by writing mortgages. The Fed was plunging its zero interest rate policy (ZIRP) in order to try to re-inflate a bubble. But with these low interest rates, Blackstone and other hedge funds in Wall Street could make more money renting out these properties than they could by actually selling them or speculating In fact, these were better returns than they could make in the bond market.

The effect is very interesting. Leading up to 2008, rents were actually going down. The more real estate prices were going up, the lower rents were falling, because 17% of the market was by flippers, by speculators who borrowed to buy a home or apartment. They thought okay, we’re going to buy a condo, buy a house, we’re going to wait for the price to be inflated. They all were desperate to find somebody to live in these apartments, to at least help cover the interest expense of buying these things.

The result was that rents fell. Right now it’s the opposite. Rents are going way up because there’s much less property available either to buy or to rent. People can’t afford to qualify for the bank loan, so they can’t afford to buy housing, and they can’t find rental apartments because these have been monopolized, maybe 20% in some areas by the hedge funds, Blackstone and other people.

My friend Gary Null, for instance, had Blackstone buy his building, smashed the furnace, wouldn’t turn on the heat, and forced him to move out so it could empty out the property and try to raise the price. That’s on commercial real estate. So these guys are really putting the class war back in business.

Housing prices are going up in Canada and Australia, but again it’s not so much a bubble like it was before. The financial structure has shifted, largely because it’s being bought by very wealthy absentee owners instead of by the population as a whole. So the rate of home ownership in America has fallen by about six percentage points. That’s about 10% of the housing population, so you’re having housing way beyond the ability of most Americans to afford and beyond what banks are going to lend to buy a house.

SHARMINI PERIES: All right. How does this benefit those holding the property, like hedge fund owners?

MICHAEL HUDSON: They can make a large return renting it out. They can make five, 10, 15%. That’s much more money than they can make in the bond market and it’s much more secure money than they can make in the stock market, because stock prices may go down and corporate sales may go down as the economy shrinks, but people are desperate to have housing. It’s the one thing they absolutely need, so rents now are rising as a percent of the American budget. They’re 40% to 50% of income in places like New York City, San Francisco, the high rent areas of the country.
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Re: Future School: CORRUPT ECONOMICS (Get Smart Blog)
« Reply #42 on: June 08, 2017, 09:23:46 pm »

(Continued from previous post)

SHARMINI PERIES: What are NINJA loans?

MICHAEL HUDSON: That’s the other thing that’s changed. What was powering and pushing up prices in 2007 and ’08 were loans to borrowers with No Income, No Jobs, and No Assets. As Bill Black has explained on your show, these are largely fraudulent loans. The frauds were the banks. The frauds were the mortgage companies that just faked the incomes of the buyers and would lend for almost the entire mortgage.

Now we only have one kind of NINJA left, and those are students. Student loans have been the most rapidly growing loans in the country. They’re now about $1.3 trillion, more than credit card loans, more than most other kinds of loans. Everybody knows that students are not able to earn enough to repay them, because default rates on student loans are going way up. They’re not going up on mortgages. They’re falling on mortgages – home mortgages – but they’re rising on student loans.

But the banks knew that they couldn’t pay and the government knew that they couldn’t pay, so the government made a sweetheart deal with the banks: “You can make all the loans to students you want. You can lend them as much money for any education, even for junk education, for junk colleges, or for-profit colleges like Trump’s college, and we know that the students are going to default, but we’re going to guarantee your loans and we’ll guarantee a higher rate of interest than you can make on any other loan, because we know these loans are risky. We know they won’t pay, but the government will take all the risk and we’ll pay you as if you were taking the risk and as if you were making a real loan, thinking you’d get repaid.”

The whole student loan scandal is a corrupt. It shows the degree to which the universities and the government loan system have been taken over by banks writing the loans to give themselves a free ride at public expense.

SHARMINI PERIES: Michael, the federal government already guarantees student loans, so when they default on these loans, does paying it back come out of the public purse?

MICHAEL HUDSON: Yes. Not only paying back the loan, but paying the loan with enormous interest, higher than the banks can get on any other kind of loan, and very heavy penalty fees, so the banks are basically cleaning up on these. The ultimate beneficiaries, if you can call them beneficiaries, are the universities, because the basic principle in real estate that we learned in 2008 was that a house is worth whatever a bank is going to lend. Well, the same thing is true for education.

An education is worth however much a bank is going to lend against it. The bank will lend everything that it costs, because there’s no risk, there’s no need for the banks to ask whether this is a junk education? Is this an educational loan that the student is really going to be able to get a job from? Or is it a Trump University loan or a for-profit university loan that is not really preparing the student for making enough money at all? And does the student have a choice?

What’s happened is the price of education has gone way, way up because banks are basically funding an enormous growth in the price that universities can charge for an education. Now the pretense was that if universities charge more, like NYU charges maybe $40,000 for undergraduate and $200,000 a year in student debt for dental school … The idea was the higher price of an education, you’d learn more. But that’s not what’s happening at all.

The universities have been turned into profit centers and they’re not hiring more professors, they’re hiring more part-timers, and an enormous growth in middle management and upper management. So all these bloated university expenditure costs are going to the management system, not to the teaching, not to professors, and not to turning out a good product.

So the effect of student lending has been to distort the educational system, to turn universities like NYU into a big real estate company. They’re using the money to buy more real estate, to build up all sorts of extraneous things that don’t have anything to do directly with classroom teaching at all. So hardly by surprise, the students are not getting enough of an education to prepare them to earn the money to pay these loans.

SHARMINI PERIES: Michael, lastly I want to ask you, you are predicting, or you speak of a slow crash rather than a big crash like we experienced in 2007-2008. Tell us about that.

MICHAEL HUDSON: Well, the problem in 2008 was that the economy was over-indebted. The way to solve the problem was to do what crashes normally do: Most crashes wipe out debt, and so the recovery begins from an economy with a much lower level in debt, but the Obama Administration, although it had promised to write down the debts, never did. It supported the banks, and it left all the debts on the books, so the economy still has all of the debt that it had in 2008. And the debt is growing.

Over the weekend, for instance, the New York Times celebrated, saying the economy’s optimism is going up because debt is rising. If you look at the National Bureau of Economic Research, economists call running into debt “optimism,” because they assume that all debt is a choice. People are choosing to be so broke that they have to run into credit card debt and borrow more from the banks.

The fact is that people are not borrowing because they’re optimistic about the economy. They’re borrowing because they can’t afford to break even and pay for their housing and pay for their education without running into debt. And, they’re having to pay so much money in debt service that they can’t afford to buy goods and services.
If you look around New York University, for instance, which used to be a thriving area, right now 8th Street and the big shopping streets are boarded up. The storefronts are closed. Nobody is in them because nobody can afford to go and eat out or buy books or even buy shoes and clothes that they used to buy on these shopping streets, because they have to pay so much for their education that’s been pushed up by the reckless student loan lending.

SHARMINI PERIES: All right, Michael, so much more to discuss. I thank you so much for joining us for now. I’m looking forward to your report next week. Thank you.

MICHAEL HUDSON: Thank you Sharmini.

SHARMINI PERIES: And thank you for joining us here on The Real News Network.
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Re: Future School: BUCK THE SYSTEM (Get Smart Blog)
« Reply #43 on: June 09, 2017, 10:42:21 am »

6965
(See also yesterday's post above on Corrupt Economics)

ECONOMICS
(Join Us &) BUCK THE SYSTEM
Whites [& others] Going Their Own Way
http://www.amerika.org/politics/wgtow

Where are they now, these people who once built this nation? They are Whites Going Their Own Way (WGTOW) who have dropped out, moved away from the big cities, set themselves up with rougher surroundings, and done their best to secede from political and economic life. They are earning less to avoid paying taxes, and doing more through barter and producing their own food, supplies and tools.

If you go to the outer suburbs here, every other house seems to be subsidized to some degree by reselling products on eBay or other internet work. The kids who mow the lawn are paid in canned food. A guy down the street swaps homebrew beer and tobacco for raw materials to make more. The carpenter takes labor in kind in trade, or goods, and just acquired a used car cheap this way.

Look at their 1040s. Every single one includes a home-based business that generates massive deductions, if they even bother to file one. The end result is that these people have converted themselves from tax cash cows into tax-eaters. They buy almost nothing new, and are fixing those old gadgets, cars, heaters, air conditioners and water heaters, especially since the old ones work better anyway.

When you need someone to help out, you go hang out at the local watering hole that now serves homebrew beer and allows people to smoke again. The band tonight takes payment in home-grown vegetables and homemade beef jerky. People are buying what they need online with BitCoin or through swaps via Craigslist. There is a neighborhood website where further transactions take place.

Many are working part time. They spend the rest of the time doing something that others need, like fixing cars, making cabinets, wiring homes, hand-loading ammunition, giving legal advice, rebuilding air conditioners, and many more things that previously would have been handled with a phone call and a check.

Others have simply gone entirely off the path. They report no income, have no credit cards, transact everything with cash or trade, and have turned their backyards into gardens. You can hear chickens and sometimes goats even in the formerly staid halls of suburbia. These people realize that their government and society has turned against them, and they refuse to support it.

Inside the city, the new Americans are earning good money at big name jobs. Cosmopolitan, educated in that way that involves memorizing lots of procedures but having no analytical skills, cultureless and obsessed with products, these are the new consumers. They favor novelty over endurance and live in debt, dependent on their jobs.

But out in the burbs and beyond, people are rediscovering real life. They work every day but they work less, and they suffer no office politics or hours wasted on commuting. Their interactions are based on trust and mutual esteem. They know their neighbors. They are rediscovering culture, turning off the televisions and checking out of Facebook.

As government in the West winds down into an abyss of debt and dysfunction, people are finding ways to live normal and successful lives in the oldest meaning of the term “successful”: family, homestead, friends, culture, church and community.

They are going their own way because they know that democracy is falling apart, and they do not want to be like the city people, standing around wondering aloud how this could happen to them on their day off, when the cash machines stop working.
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Re: Future School: POVERTY BY SLOPPY THINKING (Get Smart Blog)
« Reply #44 on: June 23, 2017, 09:03:59 am »

7637
ECONOMICS

Sloppy thinking (Part 2)
https://monetarysov.wordpress.com/2017/06/13/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.”’

http://www.paulcraigroberts.org/2017/04/04/worlds-best-economist/

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?
« Last Edit: June 23, 2017, 09:31:40 am by Luck »
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