Well, we lost the bet. We were sure he’d drop off a balcony, fall down some stairs, or shoot his entire family after doing away with himself. And in other news, all the so-called experts are still jumping up and down about situations that could probably either be ameliorated or solved simply by adopting the Economic Democracy Act:, which is outlined in The Greater Reset which you can get in any quantity for $5 a copy until the end of August, available from TAN Books, an imprint of Saint Benedict Press:
• FIVE DOLLAR SALE! It’s opportunity of a lifetime time again! The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law, is currently available through the end of August from the publisher, TAN Books, an imprint of Saint Benedict Press, and for $5.00 per copy in any quantity, while supplies last. The heart of the book is, of course, the Economic Democracy Act?, but there is much more there in what the “Censor Librorum” of the Catholic Diocese of Arlington, Virginia, called a “real page turner.” Don’t worry — although published by a Catholic publisher, the book is written from a natural law, interfaith perspective, and applies across the board to all human beings.
• U.S. Dollar’s Reserve Status Threatened. Bank reserves are defined as vault cash and commercial bank demand deposits at the central bank — the Federal Reserve. The idea is to have enough cash on hand — or the ability to issue a check drawn on the Federal Reserve, which is legally the same as cash — to prevent a run on the bank that could cause the bank to shut down permanently and the depositors lose all their money. With a properly run central bank and modern communications, it should be impossible for a bank to go under, even if it has made nothing but bad loans, for the Federal Reserve can instantly loan the bank money from all the other banks that are members. That, however, assumes that the reserve currency being used is uniform, elastic . . . and asset backed. Today, with the reserve currency almost totally backed by government debt instead of private sector assets, the entire financial system is in trouble when, as now, commercial member banks are depositing money in other, more profitable ways at the Federal Reserve, and the Federal Reserve is creating money or not creating it in the proper way. Of course, this would all be moot if Congress adopted the Economic Democracy Act, but you can’t expect them to stop doing what has been so profitable for themselves and kept them in power.
• Federal Reserve’s Fun with Numbers. The Federal Reserve has announced (by a slim margin) that it is done with raising interest rates . . .for now. That could mean that they’ve finally realized the futility of trying to use contradictory and self-defeating Keynesian solutions to solve economic problems . . . but it doesn’t. All it means is that after nearly a century of trying to force Keynesianism to work, it still isn’t working. Why? Because it can’t work. The only solution is to adopt the Economic Democracy Act, which no one seems willing to do.
• The Death of the Entire Financial System. According to economist Lynette Zang, the U.S. Dollar’s shaky position as the leading reserve currency is endangering the global financial system . . .yet no one is willing to do a thing about it except try and figure out ways to jump ship as fast as possible. It would, in fact, be a very simple thing to restore the U.S. Dollar’s status, although not easy. It’s not easy because a number of people’s wealth and power is tied to the current insane system and they don’t see that everyone, including themselves, would be better off under a new system. It’s simple because all that’s necessary is to adopt the Economic Democracy Act.
• England Expects Every Man to Pay More Interest. According to this here in the Telegraph (not the daily racing form, but it might as well be), the only way to save Britain (bow) is to raise interest rates to halt inflation . . . or adopt the Economic Democracy Act, restore the pound to its former glory, and return power to the people Naw, let’s just go with raising interest rates and screwing up the economy even more and giving the rich and the politicians even more power.
• A “Rolling Recession”? Ever notice all the different ways people have figured out to say “Depression” without using that word? Of course, the modern “business cycle” of boom-and-bust dates from the early nineteenth century and is a direct result of the decision by the British government to finance the Napoleonic Wars using debt instead of taxes. This led to shifting from having a portion of the reserve currency backed by government debt to eventually having the entire reserve currency backed by government debt. This led to increasingly wide swings in economic activity due to the complete detachment of exchange from the medium of exchange. Say’s Law was disrupted, and production and consumption were no longer directly linked. That is why the so-called experts are so worried. Consumers are spending money, but on vacations that don’t generate the huge profits for products that the rich are invested in. This would all be a moot point if Say’s Law were to be restored through the adoption of the Economic Democracy Act, but then the powers-that-be would not be able to control the rest of us as easily as they do now, or at all, for that matter . . . and that scares them to death.
• Keynesian Investing Logic. Companies are making less in profits . . . so share values are rising on Wall Street! Of course, Keynesianism isn’t exactly known for its logic or consistency, but many parts of it are at least plausible, at least until you become familiar with the real economics of reality, that is, binary economics. Perhaps what the speculators (it would be grossly incorrect to call them investors) are hoping is that a lousy economic outlook will inspire the politicians to debauch the currency further, driving prices of shares up even higher. Or they might wise up and adopt the Economic Democracy Act, and put the economy on a sound footing, but what would be the fun of that?
• Too Much Money, Not Enough Reserves. Allegedly in response to QT, or “Quantitative Tightening (a frightening prospect to those who make their money gamboling and gambling on Wall Street) banks have too much money but they’re using it to make money by lending it to the Federal Reserve instead of refusing to lend it to businesses . . . which is what QT is all about, right? So, because the commercial banks are doing just what the Federal Reserve wanted them to do, it’s now the wrong thing to do because it isn’t working, so they may have to reverse QT and get back to QE so that the commercial banks have even more money to put into Wall Street and everything else except for lending to business . . . which is supposed to be the business that commercial banks are in. Have you figured this out yet? Neither has the Federal Reserve. Again (you saw this coming) all this would be moot if we adopted the Economic Democracy Act, and the quantity of money could be determined directly by the system instead of some government bureaucrat or banker.
• 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 new 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 email@example.com 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.