Sunday, 29 April 2018

Enough With the Debt Already, So who keeps the Vig? What the Government does not want you to Know about Debt.


Mike and I consider Jim Rickards , Advice from the Insider?
https://pro.dailyreckoningnews.com/p/AWN_sdrblockchain_0817/LAWNU1AV/?s1=&s2=&s3=&h=true

 Rickards is an interesting fellow. He appears on Max Kaiser and Greg Hunter regularly, I believe he is connected to the CIA still he has a publicly known connection to CIA operations pre 9/11 etc.
What is interesting about this newsletter is the SDR stuff and the Dollar reserve currency stuff. More than that though the Distributed ledger message, I have only speed read this once so may have missed it but Bitcoin is not mentioned at all as far as I read or Blockchain.
This sort of sales pitch is a way that the AgitProp operatives of the State make money off the backs of the Little folk forget what the advice is in the sales pitch but distil out the core of truth which is frontrunning the agenda for this summer.

Events can postpone ELite NWO agendas and often do, Trump is already talking about taking another look at TPP and expect TTIP to start heading up the EU agenda once Brexit is derailed into the long grass. On Plans to replace the Dollar, I recommend these two papers which I have on my Blog.

http://www.bis.org/review/r090402c.pdf
Zhou Xiaochuan: Reform the international monetary system
Essay by Dr Zhou Xiaochuan, Governor of the People’s Bank of China, 23 March 2009.

http://www.bis.org/publ/work444.pdf
Reforming the international monetary system in the
The 1970s and 2000s: would an SDR substitution
account, have worked?
Robert N McCauley and Catherine R Schenk
1

http://letthemconfectsweeterlies.blogspot.se/2017/08/its-geo-politics-not-economy-stupid.html
Its Ironic But Rickards new revelations are really not new he could have written this at any time since 1972 and certainly after the publication of the Brandt report. In 1981 https://en.wikipedia.org/wiki/Brandt_Report
and its 20 year anniversary update in 2001.

Plus Ca Change.
MTF Replies
 I've listened to Rickards a few times in the past. For me he's an enigma. He was part of Long Term Capital Management before it crashed / he has worked for the CIA / is well conected to the establishment etc etc. That said he comes across with sensible sounding opinions. As to the monetary system. The one certainty is that there will be some sort of monetary reset probably led by the Fed. As to whether it will be SDR or Gold or currency basket or carbon based is an open question. My guess is that the chosen mechanism will favour the elite & penalise the Goyem. Crypto at the moment too volatile/speculative to be a part but the frontrunner will be Bitcoin. At the moment I think the posibilities of distributed ledger use in day to day transactions is clouded by casino activity in the crypto coin mkt. As to the outcome / I know most of the options but dont know or can reasonably guess what will occur.


And then this from Richard Murphy complete with objection from Maths notation Pedant.


The government does not spend taxpayers’ money: that clears the government’s debt to the Bank of England

Posted on April 28 2018

A reader of this blog, who I do not think I have met, secured the following Freedom of Information answer from HM Revenue this week:



Your comment is awaiting moderation. 
The Accounting Identity of Money Creation explains this very well, David Graeber Author of the excellent Debt the First 5000 years did a very good presentation of it in the Guardian.
My own poem the magic money tree HAs a stanza setting out the three main schools of thought on money cration which of course has always to account for Public/Government debt.
https://www.youtube.com/watch?v=GY3B7DHmWgQ
Economists argue about Theories Three
Commodity, Chartalist or Credit Theory
In Truth all Theories of the Merkel tree?
Are Based upon a Tautology, That´s MMT.
Beardley Ruml made it quite clear in the late 1930’s that Taxes regulate aggregate demand and express policy agenda but do not fund public spending.
Hairsplitting over math notation is one thing this discussion will not have even started until a spat over the loanable funds model or
Job Guarantee over basic income breaks out.
Finally, the peerless Professor Richard Werner, SPells it out on a Bumper Sticker.