A Gold Standard Debt Jubilee for an Honest Money Monetary System
We need a bullion standard. For those (newer) readers who don’t know because this is so, a reason couldn’t be simpler. Among other virtues, a bullion customary performs two, essential functions. It prevents (corrupt) governments from drowning us in debt. It prevents (criminal) executive banks from hidden all of a wealth, around a “inflation” they emanate with their extreme money-printing.
It is these eminent properties that warranted a bullion customary a taunting nickname, from history’s most-infamous gold-hater, John Maynard Keynes. The good Charlatan Economist called a bullion customary “the Golden Handcuffs”. A bullion customary handcuffs hurtful governments, forcing them to work somewhere nearby a offset budget, during all times. A bullion customary handcuffs rapist executive banks, confining a speed with that they steal-by-inflation to a near-zero rate.
For those readers who don’t accept a avowal of this writer, and who don’t trust a difference of Charlatan Keynes, we have a some-more contemporary and even more-infamous management here.
In a deficiency of a bullion standard, there is no approach to strengthen assets from lien [i.e. theft] through inflation.
– Alan Greenspan , 1966
No approach to strengthen ourselves. The denunciation is unequivocal. This warning was spoken good before Greenspan himself became a menial of a banking Crime Syndicate , and a world’s inaugural Inflation Thief. We possibly have a bullion standard, or we are henceforth exposed to a systemic, financial crimes by the fraud-factories that call themselves “central banks”. Pretty simple.
Another of a good truths in a societies is what that when we have a great need for some change in open policy, there will be no prerequisite of politicians who pledge such changes – and afterwards mangle their word. Generally, we have no approach of simply separating a Posers who guarantee reforms (like a asocial liar, Barack “Change” Obama) from a little minority of politicians with a firmness to lift out such reforms.
However, in a box of a bullion standard, there is a really candid “test” to apart a Posers from a critical advocates. This brings us to a theme of Debt Jubilee .
For those (newer) readers who are not informed with possibly a clarification or a judgment behind this term, a brief chronological summary is required. Going behind to literally Biblical times, one of a constants of tellurian supervision is that earlier or after (usually sooner) statute regimes finish adult drowning their populations in debt. Once this occurs, that society/economy is faced with one of dual alternatives.
The economy can continue to delight in their unpayable debts, i.e. Debt Slavery . All of a prolific efforts of a Workers of that multitude are consumed profitable “interest” to a landowner oligarchs who reason all of a IOU’s. Obviously this is unjust, corrupt, and simply economically insane. There could never be a receptive justification for selecting Debt Slavery.
There is, literally, usually one choice to Debt Slavery: Debt Jubilee. A “jubilee” is a finish desertion of all debts. Any/all debt instruments spin null-and-void. Debt Slavery is abolished. The Workers are authorised to retain a fruits of their labours, and use their prolific efforts to build and urge their societies – rather than simply fattening financial Criminals.
The process of Debt Jubilee is totally straightforward. The mercantile justifications for such a process are positively indisputable. There is usually one component of doubt in this mercantile equation: when has an economy reached a spin of indebtedness where Debt Jubilee becomes a imperative process decision?
There is no accurate regulation here, though there is positively ubiquitous agreement. Throughout a complicated story of a economies, it has been zodiacally concurred ( until a present) that when any nation’s debt-load exceeds 100% of GDP that no other alternatives remain. Once an economy is jam-packed with this bulk of debt, it is never probable to revoke (let alone retire) such debts.
A debt spin has begun. From that indicate onward, a usually mathematical/economic probability is ever-worsening indebtedness, and ever-larger seductiveness payments on these unpayable debts, a accurate clarification of Debt Slavery . Throughout probably a whole Western world, we are now good past this point-of-no-return.
These economies are not “slightly insolvent”, they are bankrupt. During final year’s “Greek crisis” , Greece’s supervision spent 6 months vagrant to be authorised to announce bankruptcy. The banking Crime Syndicate that binds these debts refused to concede this, around their lackeys during a ECB. Ultimately, Greece’s broke economy was force-fed vast amounts of additional debt – pier some-more debt onto a broke debtor. Increasing Greece’s Debt Slavery. Pure criminality.
This brings us behind to a bullion standard. As formerly explained, a bullion customary can forestall insane regimes from drowning their republic in debt. What a bullion customary can't do is to erase a (fraudulent) debts that have been incurred by previous, hurtful regimes.
By definition, a bullion customary involves “backing” a financial complement of a sold economy with gold, around subsidy that nation’s banking with gold. Obviously, such subsidy contingency also embody all of a debts that are denominated in that nation’s banking . It is here where we confront a simple, nonetheless elemental grounds of arithmetic.
No ruined economy can “back” their economy with gold.
This should be totally self-evident, nonetheless it is apparently over a grasp of a scoundrel economists. When these frauds cruise a bullion standard, what we hear continual from these unfilled mouthpieces is that “there is not adequate gold” for a bullion standard.
What a charlatans indeed meant, if they were able of expressing themselves coherently, is that our debts are too large for any of these ruined economies to indeed “back” their currencies (and economies) with gold. And this brings us to a tie between a bullion customary and Debt Jubilee – in an epoch of Western insolvency.
It is positively mathematically and economically unfit for any of these hurtful regimes to exercise a bullion customary until after they have announced Debt Jubilee . Even a Charlatans have concurred this, they are usually unqualified of doing so in an lucid manner. In turn, this brings us behind to a Poser politicians, and a intellectually broke “economic advisors” who shill on their behalf, around this headline:
Trump Advisor calls for Gold Standard: “Money that transcends borders and time”
Isn’t that special? Donald Trump and a scoundrel economist who speaks on his interest presumably wish a bullion standard. Read by a happy-talk that follows this headline, and dual difference will be particularly absent: Debt Jubilee.
Donald Trump and this “economist” (supposedly) wish a United States to go behind to carrying Honest Money. The problem? There is positively not one word from these Posers about transforming a U.S. into an Honest Economy, i.e. one that possibly pays a bills, or plainly renounces those bills as being unpayable (Debt Jubilee).
It is apparently mathematically unfit for any Western economy to lapse to a bullion customary but initial dogmatic Debt Jubilee. To have Honest Money, one contingency start with an Honest Economy.
Posers like Trump (and others) wish to “have their cake, and eat it too.” They wish to talk about bringing Honest Money (and a Golden Handcuffs) behind to a nations, while particularly omission any discuss of the necessary precondition before this could ever occur – Debt Jubilee.
This exam to apart a Posers from critical advocates of a bullion customary is absolute. If someone touts a bullion customary but initial acknowledging a prerequisite that Debt Jubilee convey this change, there are usually dual possibilities. The particular in doubt is fibbing about their vigilant to exercise a bullion standard, or they simply miss a mercantile sophistication to even know a dynamics that are involved. Either way, such people are undeniable posers.
How many writers, politicians, and scoundrel economists are talking about a bullion standard? Lots. How many are informing people that we contingency have Debt Jubilee before we could ever pierce to an Honest Money monetary system? Just this writer.
We positively need a bullion standard. We positively need Debt Jubilee. As a matter of a simplest arithmetic, it is totally unfit for us to ever have a former until after we have a latter. Ignore a Posers. They are not critical individuals.
Courtesy: Jeff Nielson
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Bankruptcy , Central Banks , Debt Jubilee , Debt Slavery , Debt Spiral , Gold , Gold Standard , Honest Money , Inflation , Insolvent Economy , Monetary System , Unpayable Debts