Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong
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The CONSERVATIVE Foolish AND DANGEROUS Gold Standard model for government

The CONSERVATIVE Foolish AND DANGEROUS Gold Standard  model for government | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Having money linked to a Gold Standard is an idea that almost every economist opposes. It is described as the economic equivalent of creationism and a major cause of the Great Depression. It is ign...
Mahilena Dianz's insight:

"The gold standard belongs to another era and it is testament to how backward looking the Republican party is that it supports it. There are good reasons why no economist supports it. The gold standard lead to financial instability and recession. It deprives government of the ability to fight recessions, instead leaving the economy stuck in recession. It would separate the money supply from the fundamentals of the economy."

 

At the moment and since 1971 the  Treasury and the Central bank can create as much money as it wants without limit. "However in a gold standard the central bank can only print as much money as gold it has. For example if the government has one billion dollars in gold, then it can only print one billion dollars. Or the country might not have any paper notes but instead just use coins. From the late 1800s until the 1930s all the developed countries were on a gold standard. Its proponents argue that a gold standard avoids inflation and instead has stable prices. It is claimed it avoids the central bank destroying the economy through hyperinflation. The gold standard is described as a model for fiscal responsibility that prevents trade deficits and budget deficits."

 

 

'The thing about the gold standard is that most of its advocates base their arguments on morality rather than economics. Ron Paul criticises the “debasement” of the dollar which he claims amounts to “theft”. Gold is seen as something real and solid, whereas paper is seen as almost fake or only an illusion. Nostalgic references are made to how much a dollar used to be able to buy. Gold is intrinsically valuable whereas paper is not. Paper money is controlled by the government which many would oppose on principle. Paper money is associated with hyperinflation and chaos (Ron Paul has been predicting imminent hyperinflation for the last 30 years). Gold is “responsible” and the opposite of wasteful government.

However in a survey of economists, zero supported a gold standard. There are many reasons for this. The main advantage or problem (depending on your point of view) of the gold standard is that is severely constrains the actions of the government. It cannot use monetary policy to influence the economy. A common response to recession is to print money which a gold standard prevents a government from doing. This means it must use fiscal measures, but a gold standard limits these as well. This means a government cannot do much to combat a recession no matter how severe it is. Instead it must stand idly by and let the recession take its course. While some hardcore free marketers would agree with this, most economists recognise that if the government doesn’t intervene the recession gets worse.

Interest rates are normally set according to the state of the economy. If the economy is booming and inflation is rising, then interest rates will be raised to stop the economy overheating. If the economy is stagnant and unemployment is high, then interest rates will be lowered to give the economy a boost. Under a gold standard, interest rates would be set according to the supply of gold. This is unrelated to the state of the economy which can cause serious problems. So if gold reserves are low then interest rates will be risen even if the economy is in a recession."

 

GOLD STANDARD  IS PURE CONSERVATIVE GARBAGE AND FRAUDULENT THINKING, ITS THE EQUIVALENT OF THE CONSERVATIVE REACTION TO SCIENCE AND THE BELIEF IN CREATIONISM...it is the conservative obsession with morality even when it is a morality invented by them which leads to the corporatist nation. 

 

This is why it is important to KNOW MODERN MONETARY THEORY AND THE ACTUAL SOCIAL VALUE OF FIAT MONEY ...

 

WHY NOT GIVE GOVERNMENT THE LIBERTY TO CREATE AS MUCH MONEY AS THE SOCIETY NEEDS TO ENSURE THE LIFE LIBERTY AND PROSPERITY OF ALL OF ITS CITIZENS....this can happen if we put the Central Bank as a Public Bank under the control of the Treasury, that way there would not be a national debt or deficit

 

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Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong
Its about time that we take care of our own! On Nov 6 2012 Americans rejected the Conservative "Fend For Yourself" religion. In a Monetarily Sovereign Nation there is no need for a balanced budget. Actually Government does not need revenue to spend, it can collect it later as a way to give value to the currency it creates. Spending > Revenue expands the economy, Spending < Revenue contracts the economy, Spending = Revenue is irrelevant and unnecessary. Fiscal Monetary reform is an important agenda for ethical, economic, and political reasons and to undo the privatized franchise by which our economy has been based upon a debt based currency. The deficit terrorism by Fiscal Conservatives threatening austerity and even deeper privatization is based upon the Gold Standard model when dollar was backed by gold and limited, thanks to Nixon, this is no longer the case since 1971, and is thereby false, fraudulent and clearly a fear tactic based upon disinformation. When we align the nature of our economics and the capacities of modern money with the policies of governance as a socializing agenda significant changes will be possible. Based on understanding how sovereign fiat money actually is used can impact Fiscal Policy allowing the Federal government to extend funding for the construction of roads, mass transit, bridges and other "hard" infrastructure to put people back to work which would increase demand for products. This same process can be applied to social infrastructure such as national health care, education, and pensions. Further, an employer of last resort (ELR) process could be established, whereby individuals who wanted to work could be provided a living wage for advancing any number of needed projects toward building communities. Modern Monetary Theory > MMT AND A GOVERNMENT FOR THE PEOPLE | <a href="http://sco.lt/8zdEO1" rel="nofollow">http://sco.lt/8zdEO1</a>; government is not a wealth taker. It is a wealth maker. What’s more, the wealth it makes is not just its own. Generally speaking, people create much more wealth with the aid of government than they do without it. We don’t first become rich and then decide to form a government. First we form governments.  Then and only then can we become rich. Without a strong government that works for all, it is not possible to have a strong economy that works for all. They go together. This important insight is actually inscribed in the preamble of the US Constitution, where “to promote the general welfare” is listed as one of the principal purposes of our federal government, along with establishing justice, insuring domestic tranquility, defending the nation and securing the blessings of liberty."
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114 Congress - 1st Confederate Congress of the 21st Century

114 Congress - 1st Confederate Congress of the 21st Century | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it

Anyways, here is the current Conservative- Libertarian, TEAPARTY CONFEDERATE view..on what the US Constitution should be as they claim in this article Articles of Confederation was preferable http://batr.org/view/122602.html

"We continually hear about restoring the meaning, intent and spirit of the Constitution. Few know that we had a far preferable blueprint for a federation before the 1789 U.S. Constitution. It was called the Articles of Confederation. Have you ever read it? If not you should. At the outset it’s opening declaration has - Articles of Confederation and Perpetual Union Between the States. Some may want to misconstrue that perpetual means subordinate. In Article II, the basis for union is stated with total clarity - Each state retains its sovereignty, freedom and independence, and every power, jurisdiction and right which is not by this Confederation expressly delegated to the United States in Congress assembled.

Concern for national defense, diplomacy and treaties, assumption of war debt, extradition to state courts, unencumbered travel and commerce, coinage and adjudicator of disputes between states are subjects of mention. Prohibitions on specific areas for states are listed, while the few sections of administration by "a Committee of the States" are noted.

No doubt the U.S. Constitution, added valuable protections against a tyrannical central government in the Bill of Rights. But, the nature of the expanded roles for the executive and judicial branches in that same - U.S. Constitution - elevating them to a theoretical and dubious co-equal status, created the inevitable usurpation of the legitimate power of the independent states. We all know the tragic history of the unimpeded executive despotism in America. Far fewer understand the catastrophic precedent in the decision of Chief Justice John Marshall in Marbury vs Madison - placing the Supreme Court as the arbiter of the constitutionality of congressional legislation. The mere restoration to the constraints in the 1789 U.S. Constitution will not revive the Republic from its demise into an absolutist oppressor. Only a systemic dismantling of that central government, returning primacy back to individual states will restore the vision of the American Revolution." SARTRE - December 26, 2002 http://batr.org/view/122602.html

Mahilena Dianz's insight:

https://www.facebook.com/groups/114congress/ ;

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Three Cheers for the National Debt: Why America Does Not Need to Cut Back - Brown Political Review

Three Cheers for the National Debt: Why America Does Not Need to Cut Back - Brown Political Review | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
For the last three decades, anti-debt polemics have been the cause célèbre of self-styled “fiscal conservatives.” Over the course of their crusade, deficit hawks have cultivated several strategies to reduce government borrowing and spending. They have tried everything from emotional appeals that invoke scary, big-sounding factoids to more serious econometric studies. Yet all of these …
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America Is Not Drowning In Debt: These 5 Charts Destroy The Biggest Myth About The US Economy

America Is Not Drowning In Debt: These 5 Charts Destroy The Biggest Myth About The US Economy | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Hooray!
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Why the federal budget can't be managed like a household budget

Why the federal budget can't be managed like a household budget | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Not all budgets are created equal – even if politicians say they are. The fed is much better off when it is short on cash
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Universal Basic Income Is Our Best Weapon Against The Rising Far Right

Universal Basic Income Is Our Best Weapon Against The Rising Far Right | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it

Without basic economic security, people often behave selfishly and vote irresponsibly.

 
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Explainer: what is modern monetary theory?

Explainer: what is modern monetary theory? | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Modern monetary theory is gaining traction in a global economic environment that defies the efforts of policymakers to restore growth.
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Finland to give people $587 a month in test of universal basic income

Finland to give people $587 a month in test of universal basic income | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
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On the Record: Bernie Sanders on Basic Income – Basic income

On the Record: Bernie Sanders on Basic Income – Basic income | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
There’s an increasing number of people asking Bernie Sanders if he supports the idea of universal basic income. You may be surprised to learn that he has in fact directly responded to these questions…
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The Debate Over Unconditional Basic Income

The idea of a guaranteed income for all citizens has been around since the days of Thomas Paine, but the idea is getting a fresh look.
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“Get A Job!” – Rethinking the Job Culture

“Get A Job!” – Rethinking the Job Culture | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
[Ed. Note: With the author’s permission, I’m re-publishing essays from his former site asobinomics.net, as they originally appeared in 2012. Here’s the second in the series!] I wrote previously about…
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MMT and Austrian Economics Walk Into a Bar...

When I first set down to write this post, I began with a long, drawn-out metaphor about the market for beer and whiskey. It was too confusing, made me thirsty, and didn’t explain anything at all. So instead of the metaphor, let’s begin with something that Austrian economists and Modern Monetary Theorists agre
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The Dangerous Collapse of Public Enterprise

The Dangerous Collapse of Public Enterprise | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Global Economic Intersection's Opinion Blog - Econintersect.com blogs news, analysis and opinion.
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The bottomless incompetence of congressional Republicans

The bottomless incompetence of congressional Republicans | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Official site of The Week Magazine, offering commentary and analysis of the day's breaking news and current events as well as arts, entertainment, people and gossip, and political cartoons.
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Trump Seeks Credit for America's Debt Reduction

Trump Seeks Credit for America's Debt Reduction | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
President Donald Trump asked on Twitter why the media hasn’t reported that the national debt has dropped since his inauguration. One explanation, some economists said: Trump couldn’t have had anything to do with it.
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Debt to GDP ratios are irrelevant (or : why Japan is not in such a difficult fiscal position)

Debt to GDP ratios are  irrelevant (or : why Japan is not in such a difficult fiscal position) | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Over the past few years the “Japan is going to default” theme has proven quite popular both in blogs and regular financial media. It’s true that the headline number (over 200% debt to gdp !) is eye-catching - as it’s 3 time more than most developed nations. But this number is also very misleading, and…
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Five Reasons Why A National Balanced Budget Amendment Is Lunacy

Five Reasons Why A National Balanced Budget Amendment Is Lunacy | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
A constitutional amendment to require a balanced federal budget is once again in the news: "Constitutional convention sparking buzz, but odds still long." As an economist, the only thing I find slightly encouraging about this is the part of the title that reads, “odds still long.” Requiring a balanced federal budget [...]
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Modern monetary theory: Managing economy the Australian way | The Indian Economist

Modern monetary theory: Managing economy the Australian way | The Indian Economist | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
How do modern monetary systems work to curb inflation and bring down unemployment rates? What can we learn from Australia?
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Sanders Supports Universal Basic Income For All US Residents

On October 10, 2014, when answering a question from a student at the University of New Hampshire on whether he supports a “universal basic income for al
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Why we should all have a basic income

Why we should all have a basic income | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
It's like we live in a game of Monopoly but we're no longer collecting money for passing Go. A universal basic income would correct this, writes Scott Santens.
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Elon Musk says we’ll need a universal basic income when all jobs are automated

Elon Musk says we’ll need a universal basic income when all jobs are automated | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
In a recent interview with CNBC, Elon Musk discussed the future of work: namely, he believes that in the future, many of us may not have jobs at all.
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Glenn Beck's Economics Are a Danger to America

Glenn Beck's Economics Are a Danger to America | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
My letter to the New York Times. Glenn Beck’s Economics Are a Danger to Our Country by Michael Norman Last night I watched in shock an
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Larry Kudlow's "supply side" love is really Keynesian love

Larry Kudlow loves to talk about the wonders of supply side economics and he despises Keynesian economics. Doesn't he know that Art Laffer adapted hi
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Article: Stop the Fiscal Policy Illiterates,  including Peterson foundation and the Heritage foundation

Article: Stop the Fiscal Policy Illiterates,  including Peterson foundation and the Heritage foundation | Conservative Liberty and Freedom is nothing but an empty box wrapped in the flag that helps no one. The land of the free for only those fit to survive, the rest can and should perish for the benefit of the strong | Scoop.it
Article: Stop the Fiscal Policy Illiterates. - Refuting Maya MacGuineas' screed on debt and deficits. She belongs to the genus fiscal policy illiterati.
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