3-minute video: 1% applaud, sing, dance to ‘obscene,’ unpayable US debt

Posted: August 3rd, 2012 by Militant Libertarian

from WashingtonsBlog

Stripped bare, US economics reveals we do not have a “money supply” but its Orwellian opposite: a “debt supply.”

What does that mean?

As you can confirm in any economics textbook, banks and the Fed create what we use for money as debts, then charge the 99% interest for its use. Because the interest and debt summed together is greater than the debt created, more and more debt must continuously be created, aggregate debt can only increase, and aggregate can never be repaid because that is what we use for money. The increase in interest payments eventually becomes a “debt bomb” as the 99% are unwilling and/or unable to carry more debt.

The manipulation of money as debt benefits a 1% credit/debt creator class, a parasite upon the work of the 99%. This 3-minute video artistically captures the parasites’ party to their debt-lust.

One obvious alternative that serves the 99% is creating debt-free money for the direct payment of public goods and services. This aspect of monetary reform is unimaginable without Occupy victory, and is important to work for as an outcome. This shift to create debt-free money has three game-changing benefits: full-employment as government becomes the employer of last resort, optimal infrastructure, and falling prices because infrastructure contribute more to productivity than cost. Documentation here,herehere.

Credit reform shifts the current bank system from parasitizing maximum profits to a 1% class to maximizing service and profits to the 99%. At-cost public credit could pay all state and local taxes with a 2% mortgage and 2% credit card. It could also release literal trillions locked in government “rainy day” funds with lines of at-cost credit.

So-called “rainy day” accounts are tragic-comic in non-disclosure and non-performance for budget, infrastructure, and pension funding. For example, Californians have $8 trillion in surplus assetswithheld by government in this current structure that 1% “leaders” claim requires our austerity (yes, that’s about $650,000 per household). These assets are hidden in plain sight in Comprehensive Annual Financial Reports (CAFRs). For my archive on this topic, use this link: CAFR.

As good as these breakthroughs are, resource-based economics is our predictable future just beyond these three reforms.

Americans and humanity are just “emperor has no clothes” obvious declarations away from freedom. Use your self-expression in powerful, beautiful, and unique contribution for 100% of Earth’s inhabitants’ success.

Now is the time; we know that you’re ready to save the lives of millions of people, help billions in dire poverty, and reclaim trillions in economic wealth!

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