Comments on: The Mother of All Free Lunches http://www.economicstability.org/current-events/the-free-lunch A Rational Voice for Monetary Reform Tue, 13 Jul 2010 15:41:05 +0000 hourly 1 http://wordpress.org/?v=3.0 By: letsgetitdone http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-65 letsgetitdone Tue, 13 Jul 2010 15:41:05 +0000 http://www.economicstability.org/?p=667#comment-65 I really liked this post. I have one you may be interested in on saving 14.8 T off the Catfood Commission's likely projection of the national debt in 2025 here: http://www.correntewire.com/which_would_you_rather_cut_social_security_or_interest_foreign_governments_and_rich_bondholders I really liked this post. I have one you may be interested in on saving 14.8 T off the Catfood Commission’s likely projection of the national debt in 2025 here: http://www.correntewire.com/which_would_you_rather_cut_social_security_or_interest_foreign_governments_and_rich_bondholders

]]> By: Joe http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-37 Joe Thu, 01 Apr 2010 14:26:00 +0000 http://www.economicstability.org/?p=667#comment-37 I have to admit my interest and decided I better say that much while I study its implications for everything else that is going on. Very interesting. More later. Congratulations. I have to admit my interest and decided I better say that much while I study its implications for everything else that is going on.
Very interesting.
More later.
Congratulations.

]]> By: Joe http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-36 Joe Thu, 01 Apr 2010 14:23:31 +0000 http://www.economicstability.org/?p=667#comment-36 Every monetary system that ever existed, that no longer exists, has failed. Every monetary system in existence will fail, though they haven't yet. We are in the latter category. All of the world's currency/money systems are in the latter category. So, what's the point? How about we do this. Starting here. Pete's posting has to do with the fact the present system rewards private bankers at the expense of the taxpayers. That is an unsustainable system.The present system must fail. We need another system. My reading of Kitson's "A Scientific Answer to the Money Question", and "A Fraudulent Standard", as well as Soddy's "Wealth, Virtual Wealth and Debt" and "The Role of Money" convince me that any commodity-backing of any debt-money system are counter purpose contributors to economic stability. We think the failure of this system is related to its debt-money nature. The debt-money is broke, broken and insolvent. We propose a new money system, debt-free at issuance by the sovereign government, and thus of a fiat nature. What do you propose? Let's discuss it. Thanks. Every monetary system that ever existed, that no longer exists, has failed.
Every monetary system in existence will fail, though they haven’t yet.
We are in the latter category.
All of the world’s currency/money systems are in the latter category.
So, what’s the point?

How about we do this. Starting here.
Pete’s posting has to do with the fact the present system rewards private bankers at the expense of the taxpayers.
That is an unsustainable system.The present system must fail.
We need another system.

My reading of Kitson’s “A Scientific Answer to the Money Question”, and “A Fraudulent Standard”, as well as Soddy’s “Wealth, Virtual Wealth and Debt” and “The Role of Money” convince me that any commodity-backing of any debt-money system are counter purpose contributors to economic stability.

We think the failure of this system is related to its debt-money nature. The debt-money is broke, broken and insolvent.

We propose a new money system, debt-free at issuance by the sovereign government, and thus of a fiat nature.
What do you propose?

Let’s discuss it.
Thanks.

]]> By: Searle88 http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-33 Searle88 Mon, 22 Feb 2010 14:03:58 +0000 http://www.economicstability.org/?p=667#comment-33 I think my research project of TRANSFINANCIAL ECONOMICS would be of great interest. http://www.p2pfoundation.net/Transfinancial_Economics I think my research project of TRANSFINANCIAL ECONOMICS would be of great interest.

http://www.p2pfoundation.net/Transfinancial_Economics

]]> By: JoeDunn http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-32 JoeDunn Mon, 01 Feb 2010 04:28:50 +0000 http://www.economicstability.org/?p=667#comment-32 Every State that has printed money not backed by anything has seen its monetary system fail. Every State that has printed money not backed by anything has seen its monetary system fail.

]]> By: The ‘People’s Bonus’: What Monetary Reform Means for You | Ben Dyson http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-31 The ‘People’s Bonus’: What Monetary Reform Means for You | Ben Dyson Sat, 30 Jan 2010 15:54:47 +0000 http://www.economicstability.org/?p=667#comment-31 [...] has written a fantastic article explaining exactly how we get this free lunch. You can read ‘The Mother of All Free Lunches‘ in full. The article relates to the situation in the US, so the following is the brief [...] [...] has written a fantastic article explaining exactly how we get this free lunch. You can read ‘The Mother of All Free Lunches‘ in full. The article relates to the situation in the US, so the following is the brief [...]

]]> By: Joe http://www.economicstability.org/current-events/the-free-lunch/comment-page-1#comment-28 Joe Mon, 26 Oct 2009 13:25:43 +0000 http://www.economicstability.org/?p=667#comment-28 Pete, This is a great article. Your unique perspective on the theft of our monetary heritage should be required reading in MonEcon 101. It may not be obvious to any readers why you chose the ten-year period ending in 2005, so it might be worth mentioning that after that time, the Fed stopped publishing the M-3 money growth. The Fed's excuse was it was too much trouble to keep the public informed of the results of their monetary policy initiatives - the Fed is responsible for the overall monetary policy of this country. Nothing to see here, just keep moving, folks. In reality, the M-3, which includes the SIV-Derivatives capital markets, took off in spades, making that ten-year period seem like child's play. The ShadowStats guys keep up with the M-3 equivalent in money growth. http://www.shadowstats.com/article/money-supply Basically, it has been more like 15 percent average growth since 2005, rather than the 10 percent in your article. Pete, another clarifying comment I would add is this. With the M-3 money supply growing an average of 10 percent, how come we have inflation averaging only 3 percent? The answer is, of course, that CPI only measures the things in the 'consumers' basket of goods. Not in that basket are either SIV-derivatives (financial[??] assets) and underlying housing assets. So, a vast quantity first went into the housing stock, then into ABS and MBS securities and then up the financial ladder, ending up as derivatives and credit-default-swap financial thingies, which are, in turn, the far over-weighted TOXIC assets at the heart of our teetering financial collapse. The inflation of the money supply ended up there. Too bad it's all debt-money. joe Pete,
This is a great article. Your unique perspective on the theft of our monetary heritage should be required reading in MonEcon 101.
It may not be obvious to any readers why you chose the ten-year period ending in 2005, so it might be worth mentioning that after that time, the Fed stopped publishing the M-3 money growth.

The Fed’s excuse was it was too much trouble to keep the public informed of the results of their monetary policy initiatives – the Fed is responsible for the overall monetary policy of this country. Nothing to see here, just keep moving, folks.

In reality, the M-3, which includes the SIV-Derivatives capital markets, took off in spades, making that ten-year period seem like child’s play. The ShadowStats guys keep up with the M-3 equivalent in money growth.
http://www.shadowstats.com/article/money-supply
Basically, it has been more like 15 percent average growth since 2005, rather than the 10 percent in your article.

Pete, another clarifying comment I would add is this. With the M-3 money supply growing an average of 10 percent, how come we have inflation averaging only 3 percent?
The answer is, of course, that CPI only measures the things in the ‘consumers’ basket of goods.
Not in that basket are either SIV-derivatives (financial[??] assets) and underlying housing assets.

So, a vast quantity first went into the housing stock, then into ABS and MBS securities and then up the financial ladder, ending up as derivatives and credit-default-swap financial thingies, which are, in turn, the far over-weighted TOXIC assets at the heart of our teetering financial collapse.

The inflation of the money supply ended up there. Too bad it’s all debt-money.

joe

]]>