One of the “interesting” things about the current world situation is the insistence of the experts that what has never worked must work if we just try harder, and to avoid like a cliché what has been proven to work and continues to work every day . . . but which endangers the monopoly of power currently held by the elite. Not their wealth, just their currently monopoly on power. What’s the solution? Adopt the Economic Democracy Act:
Georg Friedrich Knapp
• The Not-So-Great Debt Debate. One of the problems with people not understanding money and credit is they fail to realize the significance of the different kinds of money and credit, and thus the different kinds of debt. That is why the biggest non-issue in the upcoming election is what to do about the immense national debt. There are three fundamental kinds of money, 1) past savings money, 2) future savings money, and 3) no savings money. Past savings money is backed by value owned by the issuer. Future savings money is backed by the present value of something the issuer reasonably expects to have when the money is presented for redemption. No savings money is backed by the issuer’s promise to pay but is not linked to anything specific. Crypto currencies generally fall into the no savings category but lack a specific promise to pay. Today’s massive debt problem is caused by the fact that the people in charge of the system think they can issue no savings money and it will be valuable simply because the issuer says so — “fiat money,” or Latin for “Let it be money”! When the experts labor under this delusion, they think they can spend-spend-spend so long as the public doesn’t catch on that the money has no value and stands for nothing of value; it only works so long as “might makes right.” That’s why John Maynard Keynes, who popularized the system (based on Georg Friedrich Knapp’s “chartalism,” or total state control of money and credit), was all for “authoritarian” government . . . it’s the only way to make his system work . . . sort of. (That, and lying to yourself, as Keynes admitted.) How do we shift from no savings money to savings money? Simple — although far from easy, given the refusal of world leaders to consider the solution or even talk about the problem. Adopt the Economic Democracy Act. The monetary reforms alone even without the expanded capital ownership, would go a long way to solving the problem, but to sustain it, the whole package is essential.
• Dividends Not Enough? According to the “advice” of a financial “expert,” people should not rely on dividends for retirement income. This is a very odd statement when we consider that private property is a natural right, and dividends are profits paid to owners. The right to profit is a part of private property, so saying shareowners don’t have a right to all the profits of a corporation is to deny the legitimacy of a natural right. What does the expert recommend? Speculating in options, i.e., rights to buy stock at a specific price, and thus a way to gamble with potentially big returns. So the advice is not to invest, but to speculate. There is a better way. Adopt the Economic Democracy Act. One provision is that owners have the recognized right to receive all profits of productive activity.
• Is Russia Imploding? Putin’s sucking up to North Korea in his desperate search to continue his attempt to conquer Ukraine is a sign something may possibly have gone wrong with his plans . . . that and his vow to continue fighting and never surrender . . . another surreal action for a wannabe conqueror. In any event, these and other signs suggest Russia is on its last legs but continues to carry on the war because they are more afraid of Putin then of anything else. Fortunately for Ukraine, Putin failed to realize the importance of having a strong economy if attempting a war of conquest, or even of defense. Even more fortunately for Ukraine, if they were to adopt the Economic Democracy Act as we suggest, it would be rebuilding its economy at the same time Russia is undermining its own economy, and could very well bring the war to a very quick end — especially when ordinary Russians start asking why they are so much worse off than the Ukrainians.
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| Russian Sabotage |
• Russian Competence. When it comes to waging war, you really have to hand it to the Russians . . . which is pretty much the only way they’re going to win, given the crudity of their tactics. Taking only one example, Russian saboteurs carried out a carefully planned operation to destroy a factory manufacturing war material in Berlin, Germany . . . which turned out to be a maker of auto parts for civilian vehicles. And they wondered why security was so easy to circumvent. . . .
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| A clever North Korean attack |
• Russia’s New Ally Launches Secret Weapon! It could be an incredibly Machiavellian move to convince the world to underestimate them and make people think they’re stupid when they’re actually geniuses . . . but then again, it might just be that North Korea really thinks they’re being clever by sending balloons into South Korea loaded with contaminated garbage and sewage. Does North Korea really have so much wealth they can fritter away resources on sophomoric stunts? Of course, we’re talking about people led by a god-king who just signed an alliance with someone who thinks he’s Ivan the Terrible but without that Tzar’s winning personality. Both dictators would fall very quickly if confronted with the Economic Democracy Act and the people whom they currently control gain power.
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| But the money was good! |
• Keeping Russia Afloat. In The Student Prince, the prince and his tutor are rousted out of bed in the middle of the night and summoned to the king’s chambers. Although both are nervous, the prince remarks to his tutor, “They can’t do anything to me. I’m the heir apparent.” The tutor responds, “If you knew more history, you’d be more worried.” A number of European banks that have been instrumental in maintaining Putin’s regime in power are considering leaving Russia, even if it hurts their bottom line . . . and saves a few hundred (thousand) lives. They don’t seem to realize they may benefit for a while supporting Putin, but in the long run, those who support dictators are inevitably on the hit list themselves. Every tyrant in history has first eliminated his (or her) enemies, then his (or her) friends, and then finishes off his (or her) family — anybody and anything that the tyrant sees as a threat to staying in power . . . remember Herod’s paranoia about the birth of Jesus? That’s why we have no fear about recommending even Russia consider adopting the Economic Democracy Act. They won’t (or can’t) do it so long as Putin is in power . . . for if they did, Putin would not remain in power very long. It would also be to the banks’ advantage, as they would gain millions of new customers and make more money than ever before by supporting economic democracy instead of tyranny.
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| Feel the burn! |
• The U.S. Dollar is Secure . . . Sort Of. The world can breathe easy. The place of the U.S. Dollar as the world’s most popular reserve currency is still secure . . . although the politicians and academic economists are doing their very best to ensure the continuance of Keynesian economics and thus their own power, at least until the collapse comes. Frankly, the U.S. Dollar is only good as a reserve currency under the current system so long as the U.S. government is stable, and there are people trying to undermine that as fast as they can — and that’s in both parties in their own unique ways. A truly sound reserve currency should not depend in any way on politics, but on solid principles of finance as found in the Economic Democracy Act. So why aren’t the powers-that-be adopting it? To keep on being the powers-that-be, of course.
• Greater Reset “Book Trailers”. We have produced two ninety-second “Book Trailers” for distribution (by whoever wants to distribute them), essentially minute and a half commercials for The Greater Reset. There are two versions of the videos, one for “general audiences” and the other for “Catholic audiences”. Take your pick.
• The Greater Reset. CESJ’s book by members of CESJ’s core group, The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law is, of course, available from the publisher, TAN Books, an imprint of Saint Benedict Press, and has already gotten a top review on that website. It can also be obtained from Barnes and Noble, as well as Amazon, or by special order from your local “bricks and mortar” bookstore. The Greater Reset is the only book of which we’re aware on “the Great Reset” that presents an alternative instead of simply warning of the dangers inherent in a proposal that is contrary to natural law. It describes reality, rather than a Keynesian fantasy world. Please note that The Greater Reset is NOT a CESJ publication as such, and enquiries about quantity discounts and wholesale orders for resale must be sent to the publisher, Saint Benedict Press, NOT to CESJ.
• Economic Personalism Landing Page. A landing page for CESJ’s latest publication, Economic Personalism: Property, Power and Justice for Every Person, has been created and can be accessed by clicking on this link. Everyone is encouraged to visit the page and send the link out to their networks.
• Economic Personalism. When you purchase a copy of Economic Personalism: Property, Power and Justice for Every Person, be sure you post a review after you’ve read it. It is available on both Amazon and Barnes and Noble at the cover price of $10 per copy. You can also download the free copy in .pdf available from the CESJ website. If you’d like to order in bulk (i.e., ten or more copies) at the wholesale price, send an email to publications@cesj.org for details. CESJ members get a $2 rebate per copy on submission of proof of purchase. Wholesale case lots of 52 copies are available at $350, plus shipping (whole case lots ONLY). Prices are in U.S. dollars.
• Sensus Fidelium Videos, Update. CESJ’s series of videos for Sensus Fidelium are doing very well, with over 155,000 total views. The latest Sensus Fidelium video is “The Five Levers of Change.” The video is part of the series on the book, Economic Personalism. The latest completed series on “the Great Reset” can be found on the “Playlist” for the series. The previous series of sixteen videos on socialism is available by clicking on the link: “Socialism, Modernism, and the New Age,” along with some book reviews and other selected topics. For “interfaith” presentations to a Catholic audience they’ve proved to be popular, edging up to 150,000 views to date. They aren’t really “Just Third Way videos,” but they do incorporate a Just Third Way perspective. You can access the playlist for the entire series. The point of the videos is to explain how socialism and socialist assumptions got such a stranglehold on the understanding of the role of the State and thus the interpretation of Catholic social teaching, and even the way non-Catholics and even non-Christians understand the roles of Church, State, and Family, and the human persons place in society.
Those are the happenings for this week, at least those that we know about. If you have an accomplishment that you think should be listed, send us a note about it at mgreaney [at] cesj [dot] org, and well see that it gets into the next “issue.” Due to imprudent and intemperate language on the part of some commentators, we removed temptation and disabled comments.
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