“The issue of debt cannot be segregated from the overall organization of society. Now, just imagine if instead of banks and their bondholders holding student loans and profiting from it, if the government had made these loans, the government could easily forgive them, because it would be forgiving money owed to itself. But when you privatize not only education, but also student loans, that is what has led to the student loan crisis. It was completely unnecessary. But Joe Biden, as senator for the credit card companies centered in Delaware, pushed it through, saying, “We’ve got to make education a profit center for the banks. Our purpose is not ...

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” – Warren Buffet – one the world’s 8 richest men whose combined net worth equals more than the bottom half (3.6 billion people) of all humanity. “What we are seeing now is a fight for what is going to be the rest of the 21st century by creating a new kind of class, a new class much like the invasions of Europe a thousand years ago. A thousand years ago, invaders from the north and from Italy would grab land and grab public utilities by military means.” “So, what you have today is a new kind of a war. It’s a financial ...

It is the laws of physics, and how well we understand and apply them, that determine the tangible, usable wealth of humanity. Money is but an aid or, at times, obstruction in the production and distribution of wealth. This is rarely understood by the world’s politicians who, all too often, are elected – and directed – by the self-serving interests of financial manipulators. An expanded definition of wealth seems in order: Wealth = (Matter + Energy) X Knowledge We know there are iron, aluminum, nickel, copper and chromium ores and coal deposits on Earth. In and of themselves they are useless in supporting human life. They are simply ...

Words matter. When a person opens a $5000 savings account at a bank it paints one picture. But if one states that the bank has borrowed $5000 from a person and now is in debt to that person for $5000 plus interest, it paints quite another. It is the same thing, but one statement creates a feeling of safety and wellbeing while the other creates a sense of doubt and fear of loss. So it is with the misleading terms “deficit” and “debt” as applied to the U.S. federal budget. “Deficit” refers to the annual money created by the U.S. Treasury and Federal Reserve Bank (the Fed) over and above the amount of money returned to the government in ...

We’ve heard it a thousand times. . . “I have to balance my budget. Why shouldn’t the government?” I have to pay my bills. Why shouldn’t the government? Politicians of every stripe jump on board. “Government spending is out of control!” “The deficit is unsustainable!” “We’re mortgaging our children’s future!” But each of these statements is based on false or deliberately misleading premises regarding the monetary functioning of the U.S. Federal Government. Each assumes the government has no money of its own and must tax or borrow from the private sector to “pay its bills.” Let us assume for a moment that this is ...

  Imagine boy scouts at summer camp. They are living in the “Buffalo” cabin and “Sam” is their adult troop leader. Camp is fun, but there is much to be done to ensure the cabin functions smoothly. Floors swept, beds made, trash carried out, bathroom cleaned, food prepared, dishes washed, fire wood split and so on. Sam spends lots of time cajoling the scouts to do their chores. Tired of the “battle,” Sam decides to create a “money” system that allows his scouts to earn payment for doing their chores which can then be exchanged for things each boy wants. The cabin will be the “Nation of Buffalo” with a fiat currency called ...

In 2003 the United States invaded Iraq. Since then the ongoing wars in the Middle East and Africa have cost trillions of dollars. The money appears out of nowhere. Virtually no legislators ask, “How are you going to pay for it?” In 2008 U.S. and world financial systems were on the verge of total collapse. Wall Street banks had been gambling in trillions of dollars of fraudulent loans and “exotic financial instruments” and the bets had gone bad. The banks were corrupt, but to avoid total financial devastation to America, we were told they had to be made whole again. The U.S. Congress authorized a signed, blank check at the U.S. Treasury, ...

Where sovereign nations with sovereign currencies are concerned, asking “how are you going to pay for it” is always posing the wrong question. It automatically introduces artificial monetary constraints due to flawed manmade economic premises, and societies are invariably told “there isn’t enough money and they must do without.” The real question is, “do we have the resources, energy, manpower, and knowledge to provide for societal needs?” At 21st century levels of human knowhow, the answer to this question is virtually always “yes.” This is economic thinking based on the laws of the Universe. It is the Universal Economy. For ...