In a sane world we'd be transitioning out of capitalism
In this world, however, the nice liberals run pieces like this one on Scheerpost:
Let's start with the reality that the economic Powers That Be have no qualms about sinking "Main Street." Here's a song about that:
So the first question we should ask Ellen Brown is: if they didn't give a damn about Main Street for the past forty-odd years, why do you think they're going to care now? (Quick! Find a distraction to freak out about! "Socialism" or something. Sheesh.)
Second, we should interrogate the idea that there is any economic solution to be found in policy about loans. In the twilight days of capitalism loans are a losing proposition, as is everything else about business. The thing to beware, of course, is that when loans become a losing proposition, the people who take them on are counting on some sort of reasonable existence after they default on said loans (default being inevitable for a certain portion of debtors at that point). But the reality of the matter is that the representative of the creditors currently sits in the White House. And, when he gives it up, he's likely to be replaced by another representative of the creditors.
In varying places of his opus, Karl Marx, that past grower of facial hair and forbidden icon of early wisdom, wrote about money (itself) as being a "draft on future labor." From the Grundrisse: “money, so far as it already exists in itself as capital, is thus merely a draft on future labour.” And from Capital, volume 2: "Thus the labourer receives, in the money which is paid to him in wages, the converted form of his own future labour or that of other labourers." Money, as we well know, has to be a physical thing -- it can be dollar bills or coins or pixels on a screen. But beyond that, as Marx pointed out, money has value (and is thus really money) because some imagined future laborer will work for it. But what if that future laborer doesn't exist, or can't survive on that money?
It's easy to predict that at some point the capitalists will, in all sorts of ways, be continually drafting futures which won't exist, imagined futures bearing no relation to realities to come. Here one thinks, as I pointed out in the last diary, of homes which can't be insured because the insurers won't cover the risk of climate-change-aided fires. As climate change grows ever more threatening with each successive summer, the capitalist reluctance to "bank on" imagined futures of progress and prosperity will spread into a second Great Depression.
Here's another draft on another future which won't happen: fossil-fuel futures. Fossil-futures futures are about the notion that documents with value can be cashed-in at some future point when the world is too baked-out by climate change to have any use for fossil-fuel reserves, because the civilization that could have burned those fossil-fuels (which will intensify the possibility of their doom) has collapsed.
Last, Brown briefly discusses the possibility of a "Great Reset":
German journalist Ernst Wolff paints an even darker scenario. He contends that the globalist European leaders heading the World Economic Forum (WEF) are crashing the global economy intentionally, in order to clear the chessboard for the WEF’s “Great Reset.” They’re doing this, he says, because they have to. The global bankers’ boom-and-bust financial system is now so top-heavy and debt-laden that it cannot be sustained. Problem/reaction/solution: desperate people will welcome the WEF’s Great Reset, in which they will own nothing but will be offered a marginally adequate Universal Basic Income with onerous strings attached. This subsistence income will be doled out through a central bank digital currency (CBDC) controlled nationally by the country’s central bank and globally by the IMF as issuer of the reserve currency and, ultimately, of a single global currency.
It is bizarre to see this discussion amidst a proposal that discusses loan policies. Clearly this is how the WEF plans to save "the economy" from a crisis it doesn't understand. According to people who (one gathers) have to publish in globalresearch.ca, the economy will be crashed (assuming falsely that any of them had the power to save it in the first instance), and a "Great Reset" will be offered to the globe's desperate billions. The WEF is scheduled to discuss it this year. Perhaps we will be reduced to such a state that we will be willing to take a chance on a world in which the elites could simply say, "Human populations are too large. Therefore, we're cutting you off."
So why does Ellen Brown think the solution is more of the Bank of North Dakota?
UPDATE: The representative of the creditors is still fighting to preserve debt peonage, despite headlines that might once have said otherwise. Well whaddaya know.
Comments
They think they have it all figured out
No one will have a job, but everyone will be getting a UBI that's actually unfunded but inadequate, so everyone will go further and further into debt supporting "capitalism". Actually the "governments" will be nothing but printing presses supplying an endless flow of valueless money to grease the rich's egos.
Don't believe the conspiracy theory about "culling the heard", that's just fearmongering to keep the population UP - keeping overpopulation is necessary to keep people living on the edge. They think that without air and water and food and health care and hope we will be unable to ride up. Actually that's a recipe for a revolution.
On to Biden since 1973
They think they have it figured out is right.
What it shows is that you really have to be delusional to want to be an oligarch right now. Make no mistake, though, they've got far more "financial security" than you or I, though it's anyone's guess what happens when we reach the point of "when the Last Tree Is Cut Down, the Last Fish Eaten, and the Last Stream Poisoned, You Will Realize That You Cannot Eat Money."
"there's something so especially sadistic about waving the flag of a country that you're actively destroying" -- Aaron Mate
A sensible alternative
Found this ditty on NC about the indigent communities of Mexico printing their own money
It is called Túmin. They use it in community based exchange along side of the Peso.
I like the concept. Perhaps it could be an alternative here? Rhode Island Scratch or Minnesota Loonies, Texas Chips or Florida Flavos?
https://www.resilience.org/stories/2022-02-04/tumin-the-alternative-curr...
Capitalism
is a self serving, self perpetuating, ruthless accounting system. It has corrupted most of the worlds governments and made them accomplices in preserving wealth for a very few. Capitalism today has no humanity. It was not designed for that.
Ernst Woulff is missing the policy space thats owned by banks
This way to the showers, my friends. here is your soap bar.
Its just like Jews were told they were going to take showers and given bars of soap so they would file in an orderly manner into gas chambers. Really, the false promise claiming there is a legal way to provide UBI (false, as it impinges the rights to profits owned by banks) UBI is a scam and has been all along just like Medicaid for All. Medicaid is loan, not a grant, Intended to strip the sick of all of whatever property they have. Green Fake Deal was a mlie intended to obscure the selling off of green collar jobs to the rich. You dont really think that decent jobs would be reserved for the gullible young people and would "pay $15/hour" What delusion do you live under? Obviously not the real one. Those entry level jobs were promised to the oligarchs of the Authoritarian Bargain Countries' children. Who paid for them.
The false promise that Democrats "might" implement Medicaid for ALl is a Big Lie a big lie. They promised away the construction jobs to the LDC countries to get them to agree to IP laws that price the fruits of even the mopst rudimentary technology out of reach, and outlaw generic drugs in order to extort the savings of the poor. Their goal is extortion. To eliminate generic drugs and price patented drugs way out of reach of most of humanity. $156,000 a year for XTandi, the prostrate Cancer drug that our tax money paid for. They are rubbing Democrats faces in shit. Learn to love it my friends, eat their poop being rubbed in your faces, suckers. Thanks for your votes.
Did you watch the film "Fire in the Blood". You really must. As was Bernie Sanders Presidential Campaign, doomed from the start by GATS which made it all a false hope. A Big Lie.
Another of many Big Lies thats been told by the worst kinds of politicians and the collaborator journalists. They have known that WTO rules prohibit anything of the kind, for the same reason it prohibits expansion of any former public service. Foreclosures are an essential element of the process, of stripping the people of all they own.
as is the impoverishment of all the former rightsholders. Read the history of Kenya in the 1950s as described in Caroline Elkins in "Imperial Reckoning" Her book on the British Gulag. From the beginning, understand that the British fully intended to steal the entire country from its people, replacing them with hedonistic white "settlers" who viewed them as their slaves, and pemanently exile or kill off all of them who did not submit to them. Its similar to the agenda of the corporate superstate globally. Now Prince Andrew is finally being put on trial for the abuse of young female ":sex slaves" who were trafficked by Jeffrey Epstein who seems to have functioned as a sort of blackmailer for the elites. The whole system is set up to eliminate democracy.
Everybiody is being enslaved to allow the theft of everything from everybody else, in an intertwing web of theft. Cant people see a rising totalitarian corruption of society? Money is everything its saying. Well, thats not okay, greed is not good. The real crisis is the greed crisis and the stealing of all that people want to happen in our lives so it can be monetized against the poor.
Against our wishes. This is all being controlled by a newly corrupt political establishment. Both parties wrking fo0r the same people on an evil agenda that cares not oine bit about the values we share, instead its trying to subvert them with this global takeover for the very rich.
No, there will be no UBI. Just like there will be no "Medicaid for ALl" or "Fake New Deal" Its ll a scam, a bait and switch. Deal with it. The sooner people realize whats being done the better a change they have of surviving it all.
for an outline of how these schemes work. If cash is abolished, indigent communities could not print money because people who owed huge debts, say from getting benefits they were not entitled to, could use such scripo systems to evade their debts and buy food, evading their debts. This was thought of back when barter systems were first being proposed. No, the whole core concept of the cashless thrust is the pauperization of everybody. The jobs have been promised as rewards to those in the developing world who assist in the great reset for the corporate state. Its fully intended to cut wages to the bone. The losers of neoliberalism are to be pushed to the edges of society. Alaska, uninhabitable "reservations" even Mars. (where air and water can be metered and paid for dearly) Nobody without lots of money can be left in cities. Or can own any rights to anything. Its like North Korea in that a caste system is set up, to make it possible to exclude 2/3 of society from any rights whatsoever.. Thats what our rulers fully intend to do. They want to trade away all our good jobs (claiming they waste far too much money on our workers) But its being done not just to shave wages to the bone, but also to control all of humanity by stealing their livelihood and turning us into slaves of a digital welfare state that tracks people every act and steals their every penny when they own money to the state which in meny peoples cases will be all the time because these debts are calculated and engineered to strip them of every penny and every dignity. Look at the Robodebt and Centreelink situation in Australia. Like that.
after they have stolen democracy and we finally realize it. It will be too late.
Because government will be illegitimate so to justify the totalitarian state they will "have to" be the ones commiting the acts of terror. You can bet on it. In fact it may have already happened.
Right now we're seeing terrorism every few years where the big beneficiaries are the ultra rich. Those events will become more and more common. They may even occur like clockwork every few years.
At this stage Capitalism is being made more and more brutal on principle. Its nothing like what ADAm Smith, who invented the core concept of the Invisible HAnd, which the capitalist cult of today worships. Wanted He would be turning over in his grave to see what his words are being twisted to say. The globalists and the Mont Perelin Society put forward the plan in the 1930s, they have taken over and their globalist right wing agenda is whats being forced on the world today.
Its now being weaponized, its intended to steal the world from those unfortunate enough to be born under it. Privatized everything? Its coming. Like water, for example.
We know we need to wash hands more frequently. But the IMF is demanding more pre-metering of newly privatized water services in Africa. Are you ready for prepay metered water where you are debited for each life saving glass- out of your account, if you carry a negative balance you wont be able to drink or travel on the newly privatized road network. Pay before you can pour it? How about metered air? GATS already puts a mechanism in place to charge for it when it becomes necessary, in countries that allow air mining and charging for fresh air, it can nop longer be offered for free. so far the UK and Canada are selling air so they are in the queue. for paying to breathe. Because they have firms selling bottled clean air. For the same reason the UK can no longer legally give away healthcare. Dont say I didnt warn you I did.
Australians I think know this:
water mining is already here.
There cant be any rights to anything thats been commercialized. Thats what GATS did in 1994. Its the same with off patent drugs. What about jobs? get ready for bribes being asked for jobs.
Costly screens are already here. Excluding the native population whose rights leave them "overqualified" to work. Outsourcers are being made entitled to valuable jobs that then can be sold to the world's corrupt and rich. Its part of the scheme thats intended to exclude our poorer young people from jobs by means of massive visa fraud and guest worker schemes.. How many of these allegedly high skill workers committed fraud and have fake diplomas? A lot, a real lot. Ask them!
And the jobs launder those fake diplomas. They will tell you, about a situation which is beyond Americans comprehension, its SO bad. They arent high skill workers, they are too often rich kids who have not spent even a few days in the classes they claim to have matriculated in.
Instead they paid to be entered into computers at schools that underpay their IT workers. Poof, instant diploma.
Here in America jobs that dont require diploma, just a decent level of skills are falling victim to credentialization in a war against the middle class. They are being outsourced to comply with GATS rules. Do our young people have any idea this is happening, NO, they have been deceived with fake deal promises. Just like the fake everything else. Poor Suckers.
So, suppose Not having a job becomes a crime and the labor of the violators can be sold for almost nothing. Isnt that slavery? Its coming.
Read about Kenya under the British Gulag. Barack Obama's grandfather was tortured by our dear friends the UK, and almost castrated. Yes, they intended to wipe out the blacks. So that Africa's valuable "white Highlands" could be stolen by white settlers from the UK and other European countries. Their descendants still own much of that stolen land. Its similar all around the developing world.