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Tenth Amendment Center, Mike Maharrey's specific concerns over the national debt are on the surface quite narrow and could easily be addressed with simple work-arounds.

If the specific problem is, that "we'll end up spending ninety percent of our working hours laboring just so government can pay its debts and daily expenses," I propose the following work-arounds:

1. Permanently suspend the debt ceiling: the public then, would never have to pay a dime of taxes again, as all could, from the perspective of the narrow problem he cites, be paid solely by Treasury Bond issuance.

2. The much clearer, and my preferred, actual solution would be simply Congress passing a law prohibiting the issuance by the Treasury of Treasury Bonds. That would require but a few minor additional changes in the law to make it workable. What are those possibilities?
1. Allowing, as in Canada, the Fed to participate in Treasury auctions, but remove the maximums Canada, probably, imposes. Yet Fed. independence suggests nothing would change from the current situation, and if it did, it could then do massive reverse QE on a whim and, perhaps, destroy all the banks but the very biggest (J.P. Morgan et al. ...).
2. *Requiring* the Fed to do QE the entire debt. Again, the FRB "agency" independence reverse QE Damacles'
3. Allow an unlimited so-called "overdraft" on the Treasury account (the TGA) at the Fed. Optics. Optics. You all would still be saying the same old lines...
4. Close the Treasury General Account! The Cato Institute's George Selgin*1 had a similar proposal. He proposed moving The Treasury's money out of the TGA and back to private sector bank accounts (TT&L accounts) again the way it did prior to 2008. That would not be the same as closing the TGA, which would still be needed on the day of actual payout under the system of negative "liability" Treasury dollar payments that "needs" clearance with positive Fed. "reserve" dollars on the evening of the payout (as with banks after a whole day's worth of debit and credit cancellations across the world dollar system that leaves (ideally--except in our frequent financial crashes) but a small residual). The TGA could then be left at a steady near zero with all the enormous swings occuring within its private sector bank accounts, within the private economy, creating but minimal inflows and outflows from and into the non governmental sector as a whole. Just as an example to show something like my idea could, and used to be the norm, be done.

If we closed the TGA altogether, though, well does that change anything? As, its not the existence of a supposedly malevolent three letter agency in this case that has anything to do with the base case: which is that Treasury payments aren't, unlike coin, given equal status with Federal Reserve dollars, but rather are treated as negative money, as liabilities, liabilities that require, as with all private sector bank-to-bank payments, clearance with Fed. reserve dollars. Stephanie Kelton, of course, talks of Treasury payments themselves, pre-clearance, as positive money, as something having an inherent equivalence with Fed. reserves. She treats the need to "pay for" from the direct opposite direction: if one assumes a Treasury payment itself is defacto positive money, not a liability of the state (All the MMT FB group more senior members will leap in to say all dollars are "liabilities," neglecting the whole fact that they have entirely shifted the usage of the word from when it pointed to silver dollar coin, or gold bullion or what have you).--then what could be the purpose of Treasury Bond issuance? Taking Mosler's insight: the re-auction of Treasuries by the Fed. as a monetary tool for the economy as a whole suggests a similar role for the initial issuance of a Treasury Bond by the Treasury: not, then, as a FISCAL tool, but as means of MONETARILY sanitizing fiscal expenditure out of the hands of the banking system by issuing what amounts to accounts in which the non-bank sector can hold its dollars independently from, outside of banking sector accounts.


*1https://www.cato.org/blog/empty-purses-mmt-rhetoric

https://sovren.media/video/the-national-debt-threatens-independence-and-liberty-3202.html

We were warned about the dangers of a perpetual national debt. Thomas Jefferson, for example, said our choice is between “economy and liberty, or profusion and servitude.” The people did not choose wisely.

sovren.media

Great Debunking of M.M.T. by George Selgin.

Same fight Paul Krugman was having on Twitter with Kelton, though. It's also kind of the obvious surface problems with the way MMT dumbs-down its explanations so defunct democrats can grasp it, just laid out quite nicely for us.

Which is, that to at least a surface appearance, the Treasury and the other federal departments are, for all practical purposes, as are private banks, non-bank corporations and state and local governments, currency users, and not currency issuers, the currency issuer appearing to be the F.R.B. "agency" . . .

I could try to debunk the debunk, but as this is a Ron Paul group, I'll just let this one, our PC pos. sink in a bit first.

MARCH 5, 2019 11:57AM
On Empty Purses and MMT Rhetoric
https://www.cato.org/blog/empty-purses-mmt-rhetoric

06/01/2023

“TARGETING CHILDREN”

Budweiser and Target are losing billions of dollars because they vigorously marketed trans nonsense. Their customers are boycotting them.

The vast majority of us now lack a real say over political matters. Elections are rigged and the politicians are turncoats.

Still, we do have the power to snap our purses and wallets shut when we’re asked to patronize businesses that push the sexualization of children. Target marketed clothing lines for babies and small children that came with LGBTQ+ slogans and endless rainbows. Their customers objected, so Target moved their display to the back of the store. Since they’re now losing monumental amounts of money, we’ve heard they may eliminate the items altogether and that has triggered outrage from the likes of Trudeau (Castro’s son), Gavin Newsom, and Joe Biden. The latter said trans people ‘are the soul of the nation.’ No they’re not, you demented old liar.

A man cannot become a woman and vice versa. That’s a proven biological fact, Jack. To think otherwise is embracing a delusion. Stop forcing Americans—and especially American children— to participate in that delusion.

The boycott of Bud Light trans juice has been wondrously successful. Let’s keep it going. It’s time to boycott any corporation that pushes the trans nonsense on us all—but especially on our children. Hold them accountable.

Boycott them. Boycott the LA Dodgers for honoring anti-Christian trans freaks. Boycott North Face. Boycott anyone pushing drag queen story hours on kids. J’ever notice how those satanic, pedophile drag queens never perform in old folks homes and such? No! It’s always in schools and children’s sections in libraries.

It’s about grooming children.

Now we’re hearing Chick-fil-a is going woke. They are embracing the socialist ‘DIE’ agenda (Diversity, Inclusion, and Equity). That’s too bad—we have enjoyed their chicken sandwiches, but some matters are too important, so no more Chick-fil-A for lunch.

LG Boycott TQ+ !!

— The GRRRTEAM

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Tenth Amendment Center, Mike Maharrey's specific concerns over the national debt are on the surface quite narrow and could easily be addressed with simple work-arounds.

If the specific problem is, that "we'll end up spending ninety percent of our working hours laboring just so government can pay its debts and daily expenses," I propose the following work-arounds:

1. Permanently suspend the debt ceiling: the public then, would never have to pay a dime of taxes again, as all could, from the perspective of the narrow problem he cites, be paid solely by Treasury Bond issuance.

2. The much clearer, and my preferred, actual solution would be simply Congress passing a law prohibiting the issuance by the Treasury of Treasury Bonds. That would require but a few minor additional changes in the law to make it workable. What are those possibilities?
1. Allowing, as in Canada, the Fed to participate in Treasury auctions, but remove the maximums Canada, probably, imposes. Yet Fed. independence suggests nothing would change from the current situation, and if it did, it could then do massive reverse QE on a whim and, perhaps, destroy all the banks but the very biggest (J.P. Morgan et al. ...).
2. *Requiring* the Fed to do QE the entire debt. Again, the FRB "agency" independence reverse QE Damacles'
3. Allow an unlimited so-called "overdraft" on the Treasury account (the TGA) at the Fed. Optics. Optics. You all would still be saying the same old lines...
4. Close the Treasury General Account! The Cato Institute's George Selgin*1 had a similar proposal. He proposed moving The Treasury's money out of the TGA and back to private sector bank accounts (TT&L accounts) again the way it did prior to 2008. That would not be the same as closing the TGA, which would still be needed on the day of actual payout under the system of negative "liability" Treasury dollar payments that "needs" clearance with positive Fed. "reserve" dollars on the evening of the payout (as with banks after a whole day's worth of debit and credit cancellations across the world dollar system that leaves (ideally--except in our frequent financial crashes) but a small residual). The TGA could then be left at a steady near zero with all the enormous swings occuring within its private sector bank accounts, within the private economy, creating but minimal inflows and outflows from and into the non governmental sector as a whole. Just as an example to show something like my idea could, and used to be the norm, be done.

If we closed the TGA altogether, though, well does that change anything? As, its not the existence of a supposedly malevolent three letter agency in this case that has anything to do with the base case: which is that Treasury payments aren't, unlike coin, given equal status with Federal Reserve dollars, but rather are treated as negative money, as liabilities, liabilities that require, as with all private sector bank-to-bank payments, clearance with Fed. reserve dollars. Stephanie Kelton, of course, talks of Treasury payments themselves, pre-clearance, as positive money, as something having an inherent equivalence with Fed. reserves. She treats the need to "pay for" from the direct opposite direction: if one assumes a Treasury payment itself is defacto positive money, not a liability of the state (All the MMT FB group more senior members will leap in to say all dollars are "liabilities," neglecting the whole fact that they have entirely shifted the usage of the word from when it pointed to silver dollar coin, or gold bullion or what have you).--then what could be the purpose of Treasury Bond issuance? Taking Mosler's insight: the re-auction of Treasuries by the Fed. as a monetary tool for the economy as a whole suggests a similar role for the initial issuance of a Treasury Bond by the Treasury: not, then, as a FISCAL tool, but as means of MONETARILY sanitizing fiscal expenditure out of the hands of the banking system by issuing what amounts to accounts in which the non-bank sector can hold its dollars independently from, outside of banking sector accounts.


*1https://www.cato.org/blog/empty-purses-mmt-rhetoric

https://sovren.media/video/the-national-debt-threatens-independence-and-liberty-3202.html

We were warned about the dangers of a perpetual national debt. Thomas Jefferson, for example, said our choice is between “economy and liberty, or profusion and servitude.” The people did not choose wisely.

sovren.media

Great Debunking of M.M.T. by George Selgin.

Same fight Paul Krugman was having on Twitter with Kelton, though. It's also kind of the obvious surface problems with the way MMT dumbs-down its explanations so defunct democrats can grasp it, just laid out quite nicely for us.

Which is, that to at least a surface appearance, the Treasury and the other federal departments are, for all practical purposes, as are private banks, non-bank corporations and state and local governments, currency users, and not currency issuers, the currency issuer appearing to be the F.R.B. "agency" . . .

I could try to debunk the debunk, but as this is a Ron Paul group, I'll just let this one, our PC pos. sink in a bit first.

MARCH 5, 2019 11:57AM
On Empty Purses and MMT Rhetoric
https://www.cato.org/blog/empty-purses-mmt-rhetoric

06/01/2023

“TARGETING CHILDREN”

Budweiser and Target are losing billions of dollars because they vigorously marketed trans nonsense. Their customers are boycotting them.

The vast majority of us now lack a real say over political matters. Elections are rigged and the politicians are turncoats.

Still, we do have the power to snap our purses and wallets shut when we’re asked to patronize businesses that push the sexualization of children. Target marketed clothing lines for babies and small children that came with LGBTQ+ slogans and endless rainbows. Their customers objected, so Target moved their display to the back of the store. Since they’re now losing monumental amounts of money, we’ve heard they may eliminate the items altogether and that has triggered outrage from the likes of Trudeau (Castro’s son), Gavin Newsom, and Joe Biden. The latter said trans people ‘are the soul of the nation.’ No they’re not, you demented old liar.

A man cannot become a woman and vice versa. That’s a proven biological fact, Jack. To think otherwise is embracing a delusion. Stop forcing Americans—and especially American children— to participate in that delusion.

The boycott of Bud Light trans juice has been wondrously successful. Let’s keep it going. It’s time to boycott any corporation that pushes the trans nonsense on us all—but especially on our children. Hold them accountable.

Boycott them. Boycott the LA Dodgers for honoring anti-Christian trans freaks. Boycott North Face. Boycott anyone pushing drag queen story hours on kids. J’ever notice how those satanic, pedophile drag queens never perform in old folks homes and such? No! It’s always in schools and children’s sections in libraries.

It’s about grooming children.

Now we’re hearing Chick-fil-a is going woke. They are embracing the socialist ‘DIE’ agenda (Diversity, Inclusion, and Equity). That’s too bad—we have enjoyed their chicken sandwiches, but some matters are too important, so no more Chick-fil-A for lunch.

LG Boycott TQ+ !!

— The GRRRTEAM

05/31/2023

Carry Your Style with Women's Sling Bags from Closet Candy

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09/17/2022

Welcome To Proverbs Club.
With Winking Eyes and Pursed Lips.
Proverbs 16:30 (NIV).
30) Whoever winks with their eye is plotting perversity;
whoever purses their lips is bent on evil.
Proverbs Club Commentary.
It is wise to learn and interpret body language.

"How to Read a Person Like a Book"
Gerard I. Nierenberg, Henry H. Calero
First published January 1, 1971.


#whoever #winks #eye #plotting #perversity #purses #lips #bent #evil

With Winking Eyes and Pursed Lips - Proverbs 16:30 Whoever winks with their eye is plotting perversity https://proverbs.club?p=5784 #whoever #winks #eye #plotting #perversity #purses #lips #bent #evil

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