“Winning isn't everything; it’s the only thing” in various forms has been to UCLA coach Henry Russell “Red” Sanders. Similarly, some people talk about money so much you’d think it is the only thing. It’s not — but if we don’t solve “the money question” in a just manner, we might as well stop where we are, and hope things don’t get worse. Fortunately, we have a tried-and-true program of monetary and tax reform applied in the Economic Democracy Act which would stop a great deal of the foolishness we see in the news with respect to economics and finance:
George W. Bush
• It’s Money, Yes, But Not That Way. Back in 2008, George W. Bush said, “If money isn’t loosened up, this sucker could go down!” In response, Warren Buffett declared this “the ten most important words in the history of economics.” Buffett was right, but not for the reason he and others think. It’s called the Currency Principle, and grossly oversimplified it can be stated as the amount of money determines the level of economic activity. Very much the contrary: in a properly structured financial system based on the Banking Principle — that the level of economic activity determines the amount of money — means that the amount of money currently in the system is (hold your breath) irrelevant. Given an economic transaction, money should never be an issue. Money is not a commodity that must preexist a transaction, but results from a transaction; money derives from production, not the other way around. That is the idea behind the Economic Democracy Act.
Or a "sober" politician?
• ATI, “Activist Treasury Issuance”. Call if the Grand Monetary Illusion. It’s rooted in the Currency Principle — that the quantity of money determines the level of economic activity — and it’s the most damaging financial idea of the past couple of centuries. There’s no wonder we’ve got a problem with deforestation when you consider the number of trees that died to promote the idea that fiddling with the quantity of money and the interest rate (not to mention the mountains of currency printed up) to print financial and monetary [stuff] like “Activist Treasury Issuance.” Despite what “the experts” say, the level of economic activity determines the quantity of money, not the other way around.
• A Benefit of the Past Savings Cult. How terrible. People of wealth are fleeing some countries, and the economic and financial powers-that-be think this is a bad thing . . . and, all things being equal, it is . . . for whatever country they choose to infest. It is not necessarily a bad thing for the country they leave. What countries are they fleeing? In order, 1) Russia (not hard to understand when you consider Putin takes a hefty cut of your wealth or you take a header down the stairs or off the balcony). 2) China (the wealthy are leaving a socialist paradise? That’s not their wealth; they didn’t build that). 3) India (not necessarily a problem with India; the country has a lot of people, and thus a lot of rich people, so it’s the numbers game, not necessarily there being something wrong with India). 4) Hong Kong (a flood of wealthy emigrants since the former crown colony was turned over to China, see above). 5) Ukraine (in percentage terms, more rich people left Ukraine than any other country). 6) Brazil (taxes. ’Nuff said). 7) The United Kingdom (taxation and crime). Why is this not a bad thing for the countries they leave? Because prosperity does NOT depend on how much money currently exists, but on the realistic potential of what can be done. Again, this is the idea behind the Economic Democracy Act.
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| Kamala Harris |
• Harris and the Economy. Although it might seem that there are no real issues, at least Kamala Harris is making a few noises. Unfortunately, there are not quite the right noises. Yes, there needs to be a focus on the economy, but she is talking about “ending child poverty, promoting labor unions, reducing the costs of health and child care and protecting ‘dignity’ in retirement.” Sorry, Madam Would-Be President, these things are signs of a healthy economy, they are not the elements of a healthy economy. If Harris wants to have a sound economy (and get elected . . . or was that the other way around?), she needs to campaign on the Economic Democracy Act.
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| Dennis Shirshikov |
• The Experts Predict for Social Security (Again). News flash: “Americans who are currently working and paying taxes could be paying into a [Social Security] system that won’t be there when they retire.” That’s if “the system” continues along the path it has followed since its inception. But what if Kamala Harris is elected? Dennis Shirshikov, a CUNY professor of finance, economics and accounting predicts “major changes”: “I anticipate that Social Security will undergo significant reforms aimed at enhancing its sustainability and expanding benefits. Harris has shown support for measures to protect and strengthen Social Security, including proposals to increase benefits for low-income retirees and to adjust the cost-of-living adjustments (COLA) formula to better reflect the expenses faced by seniors.” So, the solution to not having enough money in the system is . . . spend more money you don’t have!!!!! Why not just adopt the Economic Democracy Act? Then you’d be talking about a real “major change,” not just playing word games.
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| Senator Mark Warner |
• A Step in the Right Direction. Senator Mark Warner wants to restore the original purpose of the Federal Reserve (re)discount window. It’s at least a step in the right direction, and should be applauded and lauded . . . and Warner should be made aware of the Economic Democracy Act, which isn’t merely a step, but the whole journey.
• Why the Federal Reserve Won’t Cut Rates . . . Until It Does. The Bank of America is predicting the Federal Reserve will wait until December to cut rates . . . just in time for that little year-end boost the wealthy need to lock in gains and take profits from stock market speculation. Here’s a wild idea: why not adopt the Economic Democracy Act and stop messing around with manipulating the interest rate?
• Another Bailout? Kamala Harris was (and probably will be) in favor of a taxpayer bailout of the people who lost money in the last housing crisis. Why not push for something like the Homeowners Equity Corporation (or just the Homeowners Equity Corporation), and get the government out of it? And also adopt the Economic Democracy Act.
• Creatively Dealing with Blackouts. A man in Ukraine plugged his house into his Tesla instead of the other way around. Tesla is building a giant megawatt battery system to ensure a supply of clean energy. No one is saying how the original power generated in the first place.
• Having it Your Way. As the prices of fast-food rise rapidly, people are getting fed up . . . we mean, not getting fed up with eating at MacDonalds and drinking at Starbucks. They’re opting to pay a few bucks more and sitting down and being served. What made fast-food bearable was the price and convenience, both of which have eroded.
• Chinese Banks are Refusing Russian Payments. Russia (okay, Putin) might actually wake up one of these days and realize you can’t go around killing people and committing atrocities without maybe turning other people off. The writing may be on the wall: Chinese banks are beginning to refuse Russian payments. Oops.
• Blood Money. Russia has been losing 30,000+ a month and for some reason is having trouble recruiting enough cannon fodder. As a result, Russia is increasing signing bonuses to lure in more victims. Not only that, they’re finding it advantageous to recruit mercenaries from outside Russia . . . possibly because foreigners don’t vote in Russian elections and can’t complain to the government.
• Russia Goes Crypto. No, we don’t mean all the secrets Russia has or invents, but crypto currency. Russia has decided to allow the use of crypto currency for payments made to circumvent sanctions. Slight problem. Crypto currency is anonymous. It’s not untraceable. An illegal payment made in crypto currency, even if the authorities don’t know who made it, can easily be seized and the payee essentially get skrood, losing everything. Russia couldn’t have done anything better to ensure the pool of people attempting to circumvent sanctions shrinks rapidly, since the only reason they’re doing it is for the money.
• 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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