Pop The Bubble Before The Real Fiscal Cliff: The Chicago Plan



Can we really pop our bubble economy before it bursts in the form of negligent suicide?

A 1930′s economic study advocating that we walk away from a debt-based currency has been recently run through advanced computer models at the IMF, and the results suggest it would work marvelously… The Chicago Plan Revisited (pdf).

Any educated person knows that fractional reserve banking is a leading horse in the race to the real “fiscal cliff” — the end point of a self-destructive system that just so happens to feed off of the ground it’s running on. A perpetual growth-based economy relies on the growth of using up resources that keep us eating, drinking, sheltering and moving, and as people race to pay off growing debts created out of thin air, the problem gets exponentially worse, literally eating and burning away the resources they need in the future to continue civilization.

We call it, “negligent suicide.”

The paper argues that fiat currency can be, and has been, powerful and beneficial to the general public if held by the state, not a few zillionaires who developed a system gamed to give them ever more power. It does not need to be backed by gold, but by the government, who would not link its borrowing to its currency’s value.

From a piece in the Daily Telegraph’s Finance section:

One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined…

The conjuring trick is to replace our system of private bank-created money — roughly 97pc of the money supply — with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.

Specifically, it means an assault on “fractional reserve banking”. If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.

The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.

Some readers may already have seen the IMF study, by Jaromir Benes and Michael Kumhof, which came out in August and has begun to acquire a cult following around the world….

The IMF paper says total liabilities of the US financial system – including shadow banking – are about 200pc of GDP. The new reserve rule would create a windfall. This would be used for a “potentially a very large, buy-back of private debt”, perhaps 100pc of GDP.

More study should be done, exploring what this would look like under an already corrupt, overly-stretched US government, currently wholly owned by the banking system, but one thing is clear: as the dude sitting in the horse carriage, if you don’t want your society and you to die a nasty, senseless death akin to negligent suicide, you’ve got to do something to stop the horses from running you over that cliff. Slowing them down or veering them off a degree or two still leads them to the same nearing cliff, and there’s plenty of history indicating that it’ll suck.

STUNNING: Corporate Connection Map, Full Rez


In the wake of the latest Obama corporate-scheming disaster story — a severe blow to anyone who believed his campaign promises — here’s a graph that should help you occupy educated.

Remember, Obama promised:

We will not negotiate bilateral trade agreements that stop the government from protecting the environment, food safety, or the health of its citizens; give greater rights to foreign investors than to U.S. investors; require the privatization of our vital public services; or prevent developing country governments from adopting humanitarian licensing policies to improve access to life-saving medications…

Note: This map was last updated in 2003. Much more has been consolidated since then, but you get the idea. Here’s a slightly different approach, more updated.

Full Rez of the Map = Right Click Here and select “Open image in new window” or download it

Facebook Bitch: Why America Doesn’t Deserve Democracy

 


America simply does not deserve good government. We fulfill our civic duty of whining to our virtual friends, retweeting #occupy solidarities and Liking Obama’s fan page, but when it comes to the one opportunity to directly change the system — voting — we simply… uh, what’s on The Daily Show tonight?

On Tuesday, the country saw an insanely low turnout for the US Congressional primaries, with California being no exception. Case in point: the winner of District 2 had just 48,001 votes, second place 19,636 and third place 18,257. That’s $26.50 spent per vote (plus an embarrassing $68 per vote for self-funded fourth-place finisher Stacey Lawson), plus countless volunteer hours of blood, sweat, and now a whole lot of tears.

Results? In November, Californians will have to choose between a PAC-funded Democrat, and a Republican stock broker with literally no specific plans for what he’d actually do — there’s not even an issues page on his site — and whose community engagement is so low that he highlights Morgan Sports Car Club on his list of association membership.


“Apathy Party 2012: Because voting is for suckers”

The people had the rare opportunity to vote in someone like Norman Solomon, who actually has an understanding of national and world issues — written thirteen books, one of which was made into a documentary — and a strong track record of standing up and doing something on the issues of civil liberties, environmentalism, corruption, unjust wars and more. Organizations from MoveOn.org to Progressive Democrats of America all sent emails urging their members to turn out for Solomon. Californians blew it.

So much time, money, and effort goes into elections, so much at stake at the just the beginning of our world ecological, energy and economic crisis, yet too few care enough about themselves, their families, fellow citizens and habitat to vote.

Blame it on America’s corporate-backed culture of complacency. Blame it on some biological phenomenon that states democracy isn’t a proper governance format for humans. Blame it on Internet access, hair-color appointments, socio-economic blah blah blah.

Face it: When it comes to responsibility, Americans suck.

Conclusion?

1. Your vote really does make a difference.

2. Get-Out-The-Vote activism does not make the difference, be they positive, negative, pretty, ugly, or from this post.

3. Voluntary voting does not work. Perhaps it’s time for compulsory voting or the opposite extreme — have a benevolent council decide for us; maybe the latter is already happening in our current voting participation, but the results are typically not benevolent.

4. Lobbying is quite necessary, as there is no mandate from the people. The only way to affect government is to get a bunch of good or evil friends and force the government to do something; evil people are better at it.

Wake up America!

Just kidding. All the venti mochas at your local quad-corner Starbuckses combined aren’t enough to pry open your eyes, get you out of bed, and vote this year. Go back to sleep and dream of a dreamy tomorrow, because when your circumstances finally jolt you awake, you won’t like your waking world.

This was commentary that does not necessarily reflect the opinion of OccupyEducated.org. What do you think?

Americans Trade Their Right to Habeus Corpus For Marriage Equality?


Let us get this straight. The government has the right to jail us forever, for no reason, as long as we can get married there?

How quick Americans and the media are to forget about the stripping of our basic human rights, as seen so casually and easily with indefinite detention made permanent law by the National Defense Authorization Act.  Throw us a social bone — the basic right to marry — and the country’s most atrocious crime against its people is a distant memory, even though groundbreaking progress against the nasty 2012 NDAA provisions by Occupy activist Chris Hedges is going on right now.

As it stands, Section 1021 is open to an interpretation that could subject anyone who has ever come into contact with Al Qaeda or “associated forces that are engaged in hostilities against the United States,” to indefinite detention. Considering Al Qaeda is just a convenient legal name for a non-grouping of groups that have similar distaste for US foreign policy, it was easy for the judge and even the government’s own lawyers to see how just about anyone can fall into a zealous government’s definition of “any person”.

(Judge) Forrest found the language too vague, and repeatedly tried to get government attorneys to say that the reporters’ fears were unfounded. The lawyers declined.

“At the hearing on this motion, the government was unwilling or unable to state that these plaintiffs would not be subject to indefinite detention under [section] 1021,” Forrest wrote. “Plaintiffs are therefore at risk of detention, of losing their liberty, potentially for many years.

“An individual could run the risk of substantially supporting or directly supporting an associated force without even being aware that he or she was doing so,” Forrest wrote. “In the face of what could be indeterminate military detention, due process requires more.”

We are all caught up on a man’s stated opinion on a social issue directly affecting some of us*, when in fact it is that same man’s actions that affect all of us, but on a much deeper level.  Why are social issues so much more important to us than foundational issues — the foundation upon which we can afford to debate these social issues at all?

Why is there so much back-patting for Obama on social media, while his actions are backstabbing to the same fans/base?

Bread and circuses.  Join us on Facebook and read The Shock Doctrine.

*Indeed, marriage equality does affect all of us, some more directly than others. Debate over this perspective is best discussed outside of jail, so feel free (because you currently are) to comment below.


Obama Going to Save Us From Our Student-Loan Debt Disaster?



Is Obama planning on helping out Americans who are in a debt pile so deep, it’s bigger than the entire American credit card hole? $1,000,000,000,000 and counting (but not with anything other than addition — we can’t afford to educate ourselves beyond that math level anymore).

As seen on Bloomberg news:

The U.S. Education Department, which hires private collectors, said today it would mandate that the companies use a standard form to gather debtors’ income and expenses. If borrowers protest, they would be offered an income-based formula, which can result in payments as low as $50 a month for an unmarried person with $20,000 in income and $20,000 in loans.

The collection companies — which receive commissions of as much as 20 percent of recoveries — are facing complaints that they insist on stiff payments from defaulted borrowers even though the Obama administration and Congress have approved more- lenient plans, Bloomberg News reported March 26. The education department is also reviewing the commissions it pays collectors.

Massive default is certainly in the future, and in the present — $67,000,000 in default so far — so what is the motivation for this band aid? With shooting up hockey-stick style, with measures to perhaps double it in the near future, people will need to be more responsible for their own education, fair or not (not).

Because You Are Silent: Journalists Arrested By House Republicans


They are emboldened by your silence.

This is history being made before your eyes. The anti-corporate movement is being met with illegal action by blindly-obedient police, under orders by corporate-owned politicians.

From the original article on the Huffington Post:

Josh Fox, director of the Academy Award-nominated documentary “Gasland” (trailer below on this OccupyEducated.org page) was taken into custody by Capitol Hill police this morning, along with his crew, after Republicans objected to their presence, according to Democratic sources present at the hearing. The meeting of the House Subcommittee on Energy and Environment had been taking place in room 2318 of the Rayburn building.

Approximately 16 officers entered the hearing room and handcuffed Fox amid audible discussions of “disorderly conduct” charges, according to Democratic sources present at the arrest.

“Gasland” received strong critical acclaim and takes a critical eye toward the practice of hydraulic fracturing, or “fracking,” a process in which several tons of highly pressurized water and chemicals are injected into the ground, allowing valuable natural gas to escape. The practice is decried by ecological experts for destroying ecosystems and polluting groundwater. The energy industry keeps the actual content of fracking chemicals secret.

A separate ABC News crew, which did have official Capitol Hill credentials, was also denied access to the public hearing.

Arresting journalists, attacking citizen documentarians… you see it on the streets of Occupy every day. Today you see it on Capitol Hill, right in front of your face, because they are betting they can keep turning up the heat as they boil the American frogs — you. They are betting we will keep becoming ever-more complacent, apathetic, or helpless. We sit online and complain, but do not get out in the streets to stand up against it.

Do you not know that fracking is no fringe issue — it is the permanent destruction of your water supply? Do you not know that fracking, not unlike the Canadian tar sands, is simply a last-ditch effort to get at the last few drops of fossil energy accessible, just so these corporate heads can make a quick billion bucks on development and exorbitant higher rates on your energy bill, getting as much capital as possible before the entire fossil energy sector collapses, at the expense of permanent destruction of entire swaths of American homes?

When and where do you stand? Democrats, Republicans, the American people… they have proven to be ineffective, apathetic, or in on the game, so what are you going to do?

Get educated. Find out how they’re doing it. Learn why it’s madness to do this when we’re at the end of economic and environmental-destruction growth. Learn what this will do to you, your economy, and your environment — you know, that place you get your food from.

For the sake of all that is American, open your eyes, open your neighbors’ eyes. Get to the hearings, get to the streets, and do whatever is necessary to stop this corporate takeover of your government happening before your very eyes.

Commentary by Ben Zolno