One who intends to leave others better off for his having existed.


On currency debasement, government spending, disparity, social instability and revolution

"...if governments are unable to stop the transfer of wealth to a small financial elite, the displeasure of the dispossessed middle class could easily turn and go against the prevailing governmental systems.

...Even though the systems attempt to provide citizens with bread and circuses in the traditional Roman style to keep them quiet, such  tactics they warn may have now become obsolete after the ultimate circus is over – the World Cup.

Government spending is the ultimate tax on the economy.

Milton Friedman
Economic Nobel Laureate

...government just keeps growing until it consumes everything. We borrow with no intent of paying anything back and about 70% of the national debts is all interest that built no schools, reduced nobody’s tax bills, and did nothing for the middle class. This is fairly consistent in all major countries. Governments are trying to push interest rates exceptionally lower to reduce their deficits exploiting the middle class creating a disincentive to save even for retirement when it pays next to nothing.

Human beings are… of two persuasions,
the first would spend tomorrow what they earn today,
the second would spend today what they hope to earn tomorrow.

From this…arise all conflicts that lead to economic crises,
to panics, depressions, violent and revolutionary transfers of wealth
and perhaps most wars.

Freeman Tilden

The OECD is now warning like Picketty that a growing gap between rich and poor will erupt into revolution – not that government is taxing too much. According to the words of the OECD Secretary General Jose Angel Gurria, the problem since the global financial and economic crisis... “In the first three years of crisis, inequality increased more than in the twelve years before, “he told the Business Week”. On average across OECD countries, the top 10% of the population now earn 9.5 times as much as the lowest 10%... Inequality has grown by 35% because stock markets are rising [from currency debasement (indirect taxation) without representation]. The higher they rise, the greater the disparity."

Statements by high officials are practically always misleading,
when they are designed to bolster a falling market.

Gerald M Loeb
...why Japan’s trade deficit seems to be increasing rather than decreasing after massive monetary intervention to reduce the purchasing power of the yen. Monetary debasement does NOT result in an economic recovery, because no nation can force another to pay for its recovery.

When national debts have once been accumulated to a certain degree,
[there has never been] a single instance
 of their having been fairly and completely paid.

The liberation of the public revenue...
has always been brought about by bankruptcy,
 though frequently by a pretended payment [through inflation].

Adam Smith
Moral philosopher and Father of Modern Economics

Monetary debasement transfers wealth within an economy by subsidizing exports at the expense of the entire economy, but this effect is delayed as the new money works it way from first receivers of the new money to later receivers. The Central Bank of Japan gives more yen to buyers using dollars, euros, and other currencies, ...but this is nothing more than a gift to foreigners that is funneled through exporters. Because exporters are the first receivers of the new money, they buy resources at existing prices and make large profits. As most have noted, exporters have seen a surge in their share prices, but this is exactly what one should expect when government taxes all to give to the few.

Nations are not ruined by one act of violence,
but quite often, gradually, and almost imperceptibly
by the depreciation of their currency through excessive quantity.

Nicolas Copernicus
Discovered Earth was not the center of the Universe

Eventually the monetary debasement raises all costs and this initial benefit to exporters vanishes.

Then the country is left with a depleted capital base and higher price levels [from taxation via currency debasement without representation].
[The US has] among the Most Expensive, Least Effective Health Care in the Developed World.  The US health care system is designed to create wealth, not provide health.

All animals are equal,
but some animals are more equal than others.

George Orwell

We have the most expensive system in the developed world, not the most effective.  When measured on five key criteria, the US measures last or next to last when compared to seven other developed nations:  Australia, Canada, Germany, the Netherlands, New Zealand, and the United Kingdom. These countries have single payer systems... [most of which are relatively not financially sustainable, but more financially sustainable than US healthcare]

So when the US tries to change its system, what does it do?  Why, bolster the [profits of the healthcare industry with increasing levels of borrowed money].

There is no means of avoiding the final collapse of a boom
 brought on by credit expansion.

The question is only whether the crisis should come sooner
 as a result of abandonment of credit expansion,
 or later as a final and total catastrophe of the currency system involved.

Ludwig von Mises

...The US has the largest gap between rich and poor of any developed nation.  In fact, globally, we rank right near Uganda.

The decline of great powers
is caused by simple economic over extension.

Paul Michael Kennedy
British historian, and author of “The Rise and Fall of the Great Powers”

...Since 1979, the top 1% increased its income by 275%,  while the bottom 90% has gone up slowly, if at all.  The middle class is shrinking [from corporate outsourcing of labor to lower wage economies], and the number of households in poverty is increasing.

People who have what they want 
are fond of telling people who haven't what they want,
that they really don't want it.

Ogden Nash 

...Nearly 75% of all growth in wealth since 1979 has gone to the top 5% of households [from corporate outsourcing of labor to lower wage economies and taxation via currency debasement without representation].

...CEOs in the US get about 475 times what the average worker makes, [much of which via debt financed stock buybacks and currency debasement, to the detriment of the average worker who ends up with higher prices].

Inflation is one form of taxation that can be imposed without legislation.

Milton Friedman

...In Japan, CEOs earn about 11 times the average worker; in Germany, about 12 times as much; in Canada, about 20 times as much and so on...

...We have an economic system with the all the characteristics of a banana republic.  We work harder and longer than citizens of any other developed nation, and we’re not as happy.  We have more expensive, less effective health care.

...the result is a kind of exceptionalism that is destroying our economic, environmental and moral fabric.

All truths are easy to understand once they are discovered.

The point is to discover them.

Galileo Galilei
Censored Astronomer

Ponzi finance units must increase outstanding debt
in order to meet financial obligations.

A transition occurs over the course of an expansion
as increasingly risky positions are validated by the booming economy
that renders the built in margins of error superfluous,
encouraging adoption of riskier positions.

Eventually, either financing costs rise,
or income comes in below expectations,
leading to defaults on payment commitments.

Hyman Minsky
Believed excessive debt causes financial crises

The surest sign that intelligent life exists elsewhere in the universe,
is that none of it has tried to contact us.

Bill Watterson
Calvin and Hobbes

Any system produces winners and losers

If the gap between them gets too great
the losers will organize themselves politically
and seek to recast the existing system within nations and between them

Henry Kissinger

Nonviolence is fine as long as it works

Malcolm X

This country, with its institutions belongs to the people who inhabit it

Whenever they shall grow weary of the existing government
they can exercise their constitutional right of amending it 
or exercise their revolutionary right to overthrow it

Abraham Lincoln

For imposing Taxes on us without our Consent
The unanimous Declaration of the thirteen united States of America

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