Modern Money Operations

We discuss  modern monetary policy solutions most feared by the Plutocracy.

Im_jus_sayin'

MSM: Lies About Deficits

Origins: Modern Monetary Theory

MMT: The Viable Solution

Kill F.I.C.A.

The U.S. Trade Scam

Trans Pacific Trade Scam

Monetary Sovereignty

Galbraith on Deficits

Obama, Austerity and Stupidity

The Good Federal Deficit

USA: The Corruption of Truth

The Stooges of Economics

Demagogue The Deficit

No More Buy America

Dollars are I.O.U.s

We Told You So

They Saw It Coming

Bush Era & Real Deficits

Identity Papers Pls.

Why Deficit Spending?

The Good Federal Deficit

Explaining Modern Money

Modern Money Primer

Lying About The CPI

Cantor Dictates Shutdown

Greenspan's Fraud

Obamacare Explained

Obama: Fix These Now

Oligarchs Love Huge Deficits

Monetary Sovereignty

Public Purpose of Money

Prof. Kelton & MMT

The MMT Solution 

Money Explained

A New Monetary System

Why Do They Tax Us?

Federal Tax Con Game

The Fraud In U.S. Tax Policy

Timeline US Recessions

So You Want To Vote-Ya Right

AARP POLICY FRAUD

AARP & SOCIAL SECURITY FRAUD

Fraud and the Fed

Greenspan’s Fraud Redux

Republican Budget Scam

American Banking Fraud

SCREW THE MIDDLE CLASS

Krugman A 1% Pimp

Affordable Health Care & You

Obamacare & You

Gaming Inflation Data

Hyperinflation 2011-2020

How the Banks Rob the US

Pyramid of Capitalism

Who Creates Jobs?

Capitalism and Democracy

OWS Declaration 

Your State Has Money

North Dakota's Genius

A Genius Amongst Use

The Regulations Myth

Out With Labor Day

Rich Get Richer

Ringing Your Bell

Books & National Money

The Big Spenders

They Knew

Ltr.:Congressman Moran


Cantor the Congressional Cuspidor Collapses the Government

And they reveled long into the night.  A deal, a terribly lousy deal, had been struck,  nonetheless, they would be back in their offices, they would get paid retroactively if they worked directly for the Federal government. If not, who knows?  They will not, soon, forget how this all came about and who was most responsible.  A rule change pushed through at midnight, just before the government shutdown on Sept. 30 turns Eric Cantor into the first Dictator of the United States. http://tinyurl.com/kvuc37t


You see, under the rules of the house, the members of the house had the ability to put the Senate resolution to a vote in the house on September 30.. Here is the rule, as written:


When the stage of disagreement has been reached on a bill or resolution with House or Senate amendments, a motion to dispose of any amendment shall be privileged.


New Rules, New Leader In Congress.


However, the rule change pushed through in the dead of night without any oversight or debate instead put the authority to proceed into the hands of the majority leader in the house, Eric Cantor. This is the same Eric Cantor who is known for having gutted anti-corruption and bribery legislation. And now, he runs the show. Even House Speaker John Boehner could not bring it up to a vote.


"Congress is off the hook. They don’t have to offer any solutions to real, rather than manufactured, problems.  They can blame it all on Cantor and not the entire majority, House Republicans.


The President is also off the hook, he won’t, for now, need to exercise any of the options, like minting the coin, using consols, or premium bonds, or asset sales to the Fed, or others available to him to render the debt limit legislation impotent. So, he gets to preserve debt limit threats from the Republicans as a negotiating tool they can use to “force” him into entitlements cuts next time.


Yes, we will have the Government open and the debt ceiling temporarily raised to get us through a few months, and the President is saved from going outside his comfort zone and giving the teahadists an excuse to try to impeach him, but the fundamental problem of the gradual imposition of increasing levels of government austerity creating economic stagnation is not being addressed, and, in addition, the even more serious problem of having laws in place that give a small minority in Congress the possibility of holding both the US and world economies hostage to their ideology is also neither being addressed nor solved.


So this is no victory, and no cause for celebration. The conditions are still there supporting a Great Betrayal, and another slide into recession, along with the possibility of another Global Crash due to financial manipulations in the mortgage international derivative markets.


Meanwhile, what can we look forward to? A brief respite from budget battles and then a rush through a manipulated membership budget conference designed to produce a Bowles-Simpson austerity “solution” to be completed by December 13, to be voted up or down, and with a good likelihood that this Conference will either fail to come up with a result, or that its results will be rejected by teahadists or fellow travelers who will never accept tax increases, and by progressives who will be unwilling to vote for entitlement cuts in the face of upcoming elections.


Meanwhile, the drag on the economy and the unhappiness of the 99% will continue with no real relief in sight because no in either party has the courage to repudiate the dogma that a sovereign fiat currency nation like the United States can have a long-term debt problem requiring a long-term deficit reduction solution. Truly, everyone in Congress needs to be replaced by people who understand the Modern Money Theory (MMT) approach to economics and who are willing to explain it to their constituents and to advocate for fiscal policies based on it." Source: Joe Firestone, http://tinyurl.com/l7b2rck


This augurs really well only for those voters who, by 2016 remember what happened and who was responsible.  Given most of  America's have a nano-second span of attention, it will not likely remember the above summary or indeed any of the details. In three months this will happen again and maybe because it is an election year, will be less protracted, but I doubt it.


On election day 2016, there will be memories of many intervening events, some real and some manufactured to force America's attention away from this debacle, this ugly piece of blackmail manufactured to bring down the government.  This unpunished treason will be just a hazy fog in the minds of America's voters who spend too many hours remembering TV trivia.

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