The Financial Takeover of Government

[georgephillip]

Central banks could be used to free government from the need to borrow from private bondholders; however, budget deficits have allowed financial lobbyists to bribe politicians into reversing progressive taxation and cutting taxes on capital gains.

"Instead of central banks monetizing deficit spending to help the economy recover, they create money mainly to lend to banks for the purpose of increasing the economy’s debt overhead.

"Since 2008 the U.S. Federal Reserve has monetized $4 trillion in Quantitative Easing credit to banks.

"The aim is to re-inflate asset prices for the real estate, bonds and stocks held as collateral by financial institutions (and the One Percent), not to help the 'real' economy recover."

http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf(p.5)

All of this is in direct contradiction to classical free market principles which called for the population at large, acting through elected officials, to receive and allocate economic surplus.

 

[georgephillip]

2. The Long Fight to Free Economies from Feudalism’s Rentier Legacy

"If you do not own them, they will in time own you. They will destroy your politics [and] corrupt your institutions. — Cleveland mayor Tom Johnson (1901-09) speaking of power utilities

" Classical economics was part of a reform process to bring Europe out of the feudal era into the industrial age.

"This required overcoming the power of the landed aristocracy, bankers and monopolies to levy charges that were unfair because they did not reflect actual labor or enterprise.

"Such revenue was deemed 'unearned.'

"The original fight for free markets meant freeing them from exploitation by rent extractors: owners of land, natural resources, monopoly rights and money fortunes that provided income without corresponding work – and usually without tax liability.

"Where hereditary rental and financial revenue supported the richest aristocracies, the tax burden was shifted most heavily onto labor and industry, in addition to their rent and debt burden."

http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf(p.9)

"rentier
play
noun ren·tier \räⁿ-ˈtyā\
Definition of rentier
Popularity: Bottom 40% of words

1. : a person who lives on income from property or securities"
   

Definition of RENTIER

 

[Stephanie]

to free the government? what is that? some separate institution who is crowned, bestowed a job, passed down a job upon a relatives death. what is this crap speaking about this government as if it's not: For the people BY the People

 

[guno]

to free the government? what is that? some separate institution who is crowned, bestowed a job, passed down a job upon a relatives death. what is this crap speaking about this government as if it's not: For the people BY the People

very palinesk word salad

 

[georgephillip]

to free the government? what is that? some separate institution who is crowned, bestowed a job, passed down a job upon a relatives death. what is this crap speaking about this government as if it's not: For the people BY the People

Billionaires and bondholders should not decide how much money government has to spend on infrastructure.

 

[EdwardBaiamonte]

"Instead of central banks monetizing deficit spending to help the economy recover, .

total brain dead illiteracy!! monetizing debt merely creates inflation which in no way helps the economy. If inflating the currency helped the economy economists would know it and our economic problems would be long over since creating inflation is something very very easy to do. 1+1=2

 

[georgephillip]

"Instead of central banks monetizing deficit spending to help the economy recover, .

total brain dead illiteracy!! monetizing debt merely creates inflation which in no way helps the economy. If inflating the currency helped the economy economists would know it and our economic problems would be long over since creating inflation is something very very easy to do. 1+1=2

Since 2008 the Fed has monetized $4 trillion in QE credit to banks. How's the inflation rate held up?

 

[EdwardBaiamonte]

Since 2008 the Fed has monetized $4 trillion in QE credit to banks. How's the inflation rate held up?

inflation has been 1-2% since 2008. And??????????????????

 

[georgephillip]

Since 2008 the Fed has monetized $4 trillion in QE credit to banks. How's the inflation rate held up?

inflation has been 1-2% since 2008. And??????????????????

You tell me, Milton

 

[EdwardBaiamonte]

Since 2008 the Fed has monetized $4 trillion in QE credit to banks. How's the inflation rate held up?

inflation has been 1-2% since 2008. And??????????????????

You tell me, Milton

can you say what your point is??

 

[georgephillip]

Since 2008 the Fed has monetized $4 trillion in QE credit to banks. How's the inflation rate held up?

inflation has been 1-2% since 2008. And??????????????????

You tell me, Milton

can you say what your point is??

Neoliberalism redistributes, as opposed to generates, wealth and income through usury, the national debt, and a credit system functioning as a radical means of accumulation by dispossession.

 

[EdwardBaiamonte]

Neoliberalism redistributes, as opposed to generates, wealth and income through usury, the national debt, and a credit system functioning as a radical means of accumulation by dispossession.

Yes, neoliberalism or Sanders as Santa Clausism
discourages the production of wealth by stealing it at the point of a gun.

 

[georgephillip]

Neoliberalism redistributes, as opposed to generates, wealth and income through usury, the national debt, and a credit system functioning as a radical means of accumulation by dispossession.

Yes, neoliberalism or Sanders as Santa Clausism
discourages the production of wealth by stealing it at the point of a gun.

Exactly. Unearned income is theft.

"rentier
play
noun ren·tier \räⁿ-ˈtyā\
Definition of rentier
Popularity: Bottom 40% of words

1. : a person who lives on income from property or securities"
   

http://www.merriam-webster.com/dictionary/rentier

 

[EdwardBaiamonte]

. Unearned income is theft.

dear how can it be theft when the income is paid voluntarily? Theft implies guns and violence? Do you understand?

a person who buy muni bonds to help a city finance itself is now a thief?? See how slow a liberal will be?

 

[georgephillip]

. Unearned income is theft.

dear how can it be theft when the income is paid voluntarily? Theft implies guns and violence? Do you understand?

a person who buy muni bonds to help a city finance itself is now a thief?? See how slow a liberal will be?

Who does the person buy the bond from, Wall Street?
How does that help a city?

 

[EdwardBaiamonte]

Who does the person buy the bond from, Wall Street?
How does that help a city?

dear, if a city needs to borrow money as all do, Wall Street often brings the borrower and lender together. This helps a city pave streets, keep lights on etc etc. The lender earns interest or unearned income for helping the city. This is not theft except to a liberal or to the insane. Do you understand now?

 

[EdwardBaiamonte]

Who does the person buy the bond from, Wall Street?
How does that help a city?

dear, if a city needs to borrow money as all do, Wall Street often brings the borrower and lender together. This helps a city pave streets, keep lights on etc etc. The lender earns interest or unearned income for helping the city. This is not theft except to a liberal or to the insane. Do you understand now?

Funny = I have been defeated, cant respond, but will stay a liberal anyway because I don't care about reason!! Ever see a conservative who cant debate? What does that teach you?

 

[georgephillip]

Who does the person buy the bond from, Wall Street?
How does that help a city?

dear, if a city needs to borrow money as all do, Wall Street often brings the borrower and lender together. This helps a city pave streets, keep lights on etc etc. The lender earns interest or unearned income for helping the city. This is not theft except to a liberal or to the insane. Do you understand now?

You still haven't explained why a city should be forced to borrow from economic parasites, have you? Is that because you believe parasites growing fat from unearned income have a moral right to shift the burden of taxation onto productive labor and industry?
Home - Bank of North Dakota

 

[georgephillip]

Who does the person buy the bond from, Wall Street?
How does that help a city?

dear, if a city needs to borrow money as all do, Wall Street often brings the borrower and lender together. This helps a city pave streets, keep lights on etc etc. The lender earns interest or unearned income for helping the city. This is not theft except to a liberal or to the insane. Do you understand now?

Funny = I have been defeated, cant respond, but will stay a liberal anyway because I don't care about reason!! Ever see a conservative who cant debate? What does that teach you?

"Classical economics was part of a reform process to bring Europe out of the feudal era into the industrial age.

"This required overcoming the power of the landed aristocracy, bankers and monopolies to levy charges that were unfair because they did not reflect actual labor or enterprise.

"Such revenue was deemed 'unearned.'

"The original fight for free markets meant freeing them from exploitation by rent extractors: owners of land, natural resources, monopoly rights and money fortunes that provided income without corresponding work – and usually without tax liability..."

"The classical reform program of Adam Smith and his followers was to tax the income deriving from privileges that were the legacy of feudal Europe and its military conquests, and to make land, banking and monopolies publicly regulated functions."
http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf

 

[EdwardBaiamonte]

You still haven't explained why a city should be forced to borrow from economic parasites, have you?

dear, people, corporations, governments, schools, etc etc all borrow money!! If you think people who lend make too much money, thanks to our free system, you are free to lend at lower interest rates and drive them all into bankruptcy for their greed!!

Do you understand????????