“Reckless,” “alarming,” “disastrous,” “swashbuckling,” “playing with fire,” “crazy talk,” “lost in a forest of nonsense”: these are a few of the labels applied by media commentators to Donald Trump’s latest proposal for dealing with the federal debt. On Monday, May 9th, the presumptive Republican presidential candidate said on CNN, “You print the money.”
The only thing that stands in the way of many of these proposals is that the Private bankers feel they have a right to profit off a given Governments ability to print money and they also feel they need to be in control of the currency and by extension the Government.
That said, I would still be wary about using any of the offcial Government numbers when it comes to measuring inflation. These numbers are bogus IMHO and manipulated. This does not mean that it follows that the printing of all that money by Central banks the world over led directly to that inflation. I believe there something more underhanded going on wherein the Governments ensure all those printed dollars get into the hands of some small few who than manipulate the market with the same.
As example in housing rather than there being broad based consumer demands driving those prices up , some small few with all the money are buying that housing up and driving up prices.
The system is rigged. The people in every country on this Earth need to reassert control.
Agreed that three decades of bipartisan rejiggering of formulas for inflation rate, CPI and many other government metrics and statistics have worked against solving debt, employment and many other problems.
To level income and wealth disparity, preventing the creation of so much debt will go further than any proposed money supply increase solution. Tens of trillions dollars of the current debt is dedicated to various bailout schemes benefiting too-big-to-fail banks at the expense of the rest of us. Those debts were incurred in 2008 when those banks controlled 25% of US bank assets. When Obama moves out of the White House in January those banks will control 50% of US bank assets, resulting in exponentially higher government debt when those banks need bailing out after the next crash. Not to mention that during the past five years too-big-to-fail insurance and drug companies have evolved, resulting in even more debt.
Unless we give President Sanders the opportunity to end too-big-to-fail, there will never be any long term solution to ever increasing government debt resulting from corporate bail outs.
The money being in the hands of a few have driven up costs of not just housing but of most of the necessities of life. Housing owned by a few has driven up home purchases and rents and thrown more people into the homeless camps that are causing health and crime problems in cities nationwide.
Yep. That is what drives prices up here in Vancouver into the stratosphere. People with very deep pockets are buying it all up. I am sure much the same happens in the USA. All that money in the hands of the few creates artificial scarcity of goods that money is needed to purchase.
CPI is a joke! Ridiculous and same way they calculate unemployment is ridiculous, neither paint a true picture. The cost of living has risen far above the 2/3% claimed. it is more like 10% a year. It gets harder and harder for families to make end meet. I will not have sufficient funds for old age because of my money not earning interest .01% whoop whoop! and living costs keep rising higher and higher eating up any savings I might have.
We need a revolution and people in government who are not out for just what they can take, but people who want a civilized society that works well for all. This has to be a global revolution and I think the rest of the world are speaking up loudly and if our lamestreet media would report such and reportthe 20/30 thousand of people who come to Bernie rallies and march on Washington but they don’t. Maybe along with banks being broke up we need to break up the monopoly of NBC, ABC, CBS, Time Warner, Clear Channel, CNN and get rid of Comcast and Verizon. Too few own our supposedly free press and we are kept in the dark like the 50’s Russia. It is inexcusable what the media does not report in a so called free society.
Actual CPI is quite variable depending on demographic. For folks living in east or west coast cities who have high medical/drug expenses, it would be higher than 10%.
No solution that ignores externalities (poverty, climate chaos, etc.) is just that, no solution.
I always look forward to articles by Ellen Brown, whom I hope will be somebody’s running mate.
Maybe Nader is right again and Only the Super-rich Can Save Us. Who would have thought it could be Trump?
Brown would be an excellent choice for Sanders’ running mate, especially since she is not a progressive member of Congress where some other good choices for VP are found. With so few progressives in Congress we can’t afford to see any Congressional progressive tapped for a VP role.
Bank on this: Trump will protect his wealth at our expense…if necessary!
This is what Max Keiser calls the “Interest rate apartheid wall.” Those on the big banking side get cheap money, while everyone else gets to pay high interest rates for loans. So yes, the printed money is being distributed mostly to the people who need it the least, and who abuse it, and drive up prices for us, the masses. That doesn’t invalidate Ellen’s basic concept, but it indicates problems can occur with distribution. There are probably many ways to counter that, including taxing speculation, and having better regulation of finance. I’d like to see Ellen comment on solutions that would help the distribution problem …
Thanks! I’m actually a Bernie fan, but when the issue got raised of “printing the money,” I had to jump on it! One thing about Trump, he’s not afraid to jump in and say what nobody else will. He’s stirring things up, and so is Bernie! Interesting times.
Bernie/Ellen has a nice ring to it!
OK, so we have basically had debt-based money controlling America since Hamilton, which I hope you all know, with his so-called “national bank” in NYC becoming home to the fed, etc., ruining the fine start that Ben Franklin made for us with 2 instances of debt-free money such that the colonies prospered greatly, much to the chagrin of England, so they attacked us in our revolution…THAT is how good debt-free money is, that occasionally some of our best have tried to re-institute like Old Hickory who was almost taken out in the usual way immediately and did carry one bullet to his grave which he would use as a “prop” to get rid of unsavory visitors to the oval office by coughing up blood anytime he wanted, etc., then of course Abe Lincoln saved the union by printing debt-free, greenbacks, but as with Ben, it was variously backed…one problem i’ll get to in a minute…then I feel Garfield was also “stopped” from instituting debt-free money if you read about his efforts, then onto L T McFadden, etal. and I even feel that FDR was about to start printing “credit” money to rebuild the world after WWII, but was “interrupted” in the usual fashion IMO…and onto JFK/RFK, etal., some of whom have actually survived to talk about it like the Pauls, which is when I became interested in seemingly needless debt we suffer with from counterfeiting by the private banks of the fed,not just the interest, but the YUUGE principal ! …and the interest on the “national debt” is of course paid first…with our TAXES, the most recent gift by the super-rich that allows us to see how money is actually backed, now that gold is archaic and has horrible seiniorage, etc., being as expensive to produce as it is supposedly worth as a monetary basis, etc. when Nixon took us off gold…division of labor (not Marxian) through taxes became the basis for our monetary system…which we will suffer with forever if we don’t put a stop to this outrage ! It is also unConstitutiuonal; art. 1, sec. 8, par. 6…the private banks should be prosecuted for such !..all the way back as far as possible, even before 1913, the year the super-rich finally got it all together with the fed, MIC and 16th etc
…Long live debt-free money…carefully printed and IMO it should be also under the watchful eyes of the states with their 10th rights to prevent over/under printing to guard against inflation/deflation, etc…my favorite topic in politics and now a lifelong pursuit of those who are ruining the country in myriad, worsening ways…
He’s just proposing what they’ve already been doing for decades. Nothing new here. Just ask Ross Perot. Sorry, not much of an argument. It’s wrong, but’s it’s just what they do–because they can.
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Me, and sometimes much higher do I pay for things this year as last year. Just like all the last decade. Do you buy food and other essentials? do you buy gas, yes it went down so SS would not be raised but gas going back up again. Surprise! Surprise.
Drug costs and fortunately I don’t need many but they’ve gone up 10%.
Control of the money supply means control of the government and society in general. The banksters understand this best. They have been doing it and getting away with it for 400 years and hiding it. They are so good at it no one knows the extent of their wealth and power. Thomas Picketty in his book “Capital in the 21st Century” from his extensive research found that over the last 200 years capital investment had grown at an average of 5% /year while the economy grew at an average of 2% /yr meaning that wealth and disparity increased. Assuming that the population of the banksters grew at the same rate as the general population their individual wealth would have grown faster than the economy also. Growing at 5% annually wealth would double every 15 years. If the numbers in the bankster’s families grew at a 2% annual rate the numbers would double every 35 years so individual wealth, assuming it was distributed equally among family members, would also outpace the economy. The current population growth rate among developed countries is less than 1% annually so the members of the old bankster families would naturally be the richest in the world yet the only member of an old and not that old bankster family on Fortune Magazine’s list is David Rockefeller with a paltry 5 billion. Where are the Morgans, Stanleys, Rothschilds, Warburgs, et al? They are so good at hiding their wealth that no one knows who the richest people in the world are. They certainly aren’t Gates, Buffett, Kochs, Walton, Slim et al. Those are all late comers that haven’t yet learned to hide the bulk of their wealth…The bankster are also very good at keeping their names out of the media except for certain charity events so they are not even in the general consciousness. Let the politicians that do their bidding take the heat and keep the rabble away from their gates… Unless the ability and privilege to create money is taken away from the banksters not much will change but thanks to Ellen Brown and others there is a growing consciousness of how money is created and how powerful that license to create money is. It can be changed and quickly so let us do it at all levels of government like North Dakota did a hundred years ago.
“There are three kinds of lies: lies, damned lies and statistics.” — Mark Twain, quoting Disraeli approvingly