Joined November 2013
Inflation-Linked Savings Base (ILSB) A proposal. The ILSB is a system where the first $10,000 of every citizen’s bank savings is automatically protected against inflation by being backed with Treasury debt or interest on Federal Reserve reserves. The basic idea is that banks would hold (or the Fed would allocate) inflation-indexed Treasuries or reserve interest to ensure that small savers never lose purchasing power on the first $10k they keep in the financial system. This does not create new spending or subsidies; it simply reallocates a portion of the interest the government already pays on Treasury debt or the interest the Fed already pays to banks on reserves. The result is a universal, inflation-safe base of savings for all citizens without increasing total government expenditures. 🧵🪡
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“The US and UK are the exceptions- economies whose unique external position creates a real (real resource) constraint that the vigilante narrative accidentally tracks through a completely wrong mechanism.” clintballinger.substack.com/…
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If I were president and I wanted to tank the dollar and get rich off it, here is exactly what I would do. I would hire a Treasury Secretary who already made $3.5 billion crashing another country's currency. I would put my guy in charge of the agency that approves bank charters. I would install a crypto czar with $200M in crypto holdings and give him an ethics waiver so nobody could challenge it. Then I would sign an executive order banning the government from ever creating a digital dollar so there was no competition. Then I would have my family launch their own private digital dollar. My family takes 75% of net profits. I would grow it to $4.6 billion in circulation and route a $2 billion Abu Dhabi sovereign fund deal through it to prove it works. Then I would get Congress to pass a law requiring every stablecoin in the country to hold short-term Treasury bills. Now every dollar of my digital currency is a forced buyer of government debt. Brookings projects $2.3 trillion in captive demand by 2030. Then I would have my OCC guy grant my family's company a federal bank charter. Now I can issue my digital dollar with federal authority. Then I would have my Treasury Secretary weaken the actual dollar. Bond buybacks that suppress yields but tank the currency. Build a $950 billion war chest for more. Let the debt hit $40 trillion. Dollar index drops to 99. Gold goes to highest point ever. Then I would kill the Corporate Transparency Act and delete the FinCEN beneficial ownership database. That was the one law that required every shell company in America to report who actually owns it. Without it, nobody can trace who is buying my stablecoin, who is routing money through it, or where the profits land. Then I would let the loop run. Weaker dollar drives demand for "stable" digital alternatives. The law I passed forces those alternatives to buy T-bills. That funds the government's debt. My family takes profit on every transaction. Foreign central banks walking away from Treasuries get replaced by legally mandated stablecoin reserves my family controls. Then I would use sanctions to start cutting countries off from the dollar system entirely. And when those countries need a new way to transact in dollars, the only federally chartered private digital dollar in existence is mine. They can buy it through shell companies nobody can trace because I deleted the ownership database. I just built a toll booth on the global financial system. I take a cut every time someone uses the dollar. And I made it so nobody can see who is paying. And every single step I just described has already happened. So what does that mean for you and I? The reason the United States can borrow at low rates and keep your mortgage and your car payment and your import prices stable is because foreign central banks hold trillions in dollar reserves. That system has always been public. The benefit went to everyone. Lower borrowing costs, cheaper goods , and the single biggest economic advantage any country has ever had. What I just described is the privatization of that function. The entity buying the debt is no longer a central bank acting in the public interest. It is a private company taking 75% of net profits for one family. The reserve function used to generate a public benefit. Now it generates a private fee. Your purchasing power shrinks every time the dollar weakens. Your 401k buys less in real terms. Everything you import costs more. And every time the dollar drops, demand for the private digital alternative goes up. The one the president's family owns. The one that by law must buy government debt. You absorb the cost of a weakening dollar. His family collects the profit. That is the trade. The enforcement mechanism to stop a sitting president from doing this? There isn't one. Former White House ethics lawyer Richard Painter says it would be a violation for literally any other federal employee, but not the president. Nobody voted for this. No one was asked. There was no debate. There is no enforcement mechanism. There is no one investigating it. The Senate tried and it was blocked. This is the largest conflict of interest in American history happening in broad daylight while everyone argues about something else. So what do you do? Share this. Make it impossible to ignore. Send it to your representative, your senator, every journalist you follow. We make them answer for it. Because the only thing protecting this scheme right now is the fact that not enough people understand it yet.
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Replying to @sdgrumbine
No one understands better than oligarchs and political elites that money is ultimately a creature of the state. That is precisely why, across the world, they have spent decades capturing the state itself and turning public institutions into private instruments serving the tiny 1% super rich. Mainstream economics then steps in as the intellectual cover for this project, a polished, technical language designed to justify austerity for the masses, endless privileges for corporations, and the systematic transfer of public power into private hands.
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What if the national debt is not a burden at all? What if it is simply the nation’s savings? Any sensible analysis shows that this so-called debt is no such thing: it's just a massive savings bank operation. That sounds like a contradiction, but it is not. In fact, understanding this point changes almost everything about how we think about government finance, public spending, austerity and economic policy. In this video, I explain why every pound of government debt is also somebody else’s financial asset. I show why government bonds are not like household debt, why they function as savings accounts with the state, and why the financial system depends upon them. Pension funds, insurance companies, banks and many of the world’s largest investors all rely on UK government bonds as a safe place to hold wealth. I also explain why governments that issue their own currency are fundamentally different from households, why the UK government cannot run out of pounds, and why the idea that Britain must one day “pay off the national debt” makes little economic sense. The national debt exists because people and institutions want somewhere secure to save their money, and the government has a duty to accept those savings. Along the way, I challenge some of the most common myths in economics. Are bond markets really in control of governments? Do bond vigilantes dictate public policy? Does rising government debt automatically create a crisis? Or have politicians, economists and commentators misunderstood the role that government bonds actually play in a modern economy? The answers matter because misunderstanding government debt has helped justify decades of unnecessary austerity, underinvestment, and fear about public spending. If we get the nature of government bonds wrong, we get much of economic policy wrong as well. If the national debt is actually national savings, then the debate about government finance needs to start in a very different place. youtu.be/rMfCrIhlAm8?si=uQDb…
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Eric Z retweeted
Montana — yes, deep red Montana — has a plan to effectively neuter Citizens United. No Supreme Court ruling or constitutional amendment needed. Here's how it works.
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This is What It Means to Have Balls It’s a kind of psychopathy. That’s the only word for it. They are killing people wantonly. They are bombing schoolgirls — 150 of them. Not combatants. Children. And the machinery of Western power grinds on as if this is simply the cost of doing business. Thirty years. Thirty years of this madness. And it has cost us trillions. Not billions — trillions. Trillions bled out of the American body while the roads crack and the bridges rust and the living standards of ordinary Americans stagnate or fall. Netanyahu is a madman. That is not hyperbole — it is a clinical description of a man who operates outside every boundary of law, humanity, and restraint. And Israel, under his direction, has become what it has become: a rogue, murderous state that kills with impunity because it has calculated, correctly, that Washington will cover every crime, fund every atrocity, and veto every consequence. Trump is an utter disgrace to this nation. Let that be stated plainly. Every word of America First was a lie. Every promise of restraint, of ending the forever wars, of putting the American people before foreign entanglements — inverted. Reversed. Betrayed. He did the exact opposite of what he told the American people he would do. The exact opposite. Congress? Dead. It does not matter whether it is Johnson or Schumer. These people are useless. They are on the Zionist lobby’s payroll and they have been for decades. They have squandered our wealth. They have squandered our strength. They have mortgaged the future of this country to a foreign policy that serves no American interest whatsoever. Ask yourself the simple question: why does China have 50,000 kilometers of high-speed rail — roughly 30,000 miles — and the United States has not one mile? Why is Chinese infrastructure advancing at a pace that would have seemed impossible a generation ago while American infrastructure is literally falling apart? The answer is not complicated. China does not go to war. The United States is in nonstop, undeclared war. War that is never voted on, never debated, never honestly accounted for. The cost is not just money. It is freedom. It is the steady transformation of this republic into a military state — one that funds foreign carnage while its own people live on crumbling foundations, both literal and figurative. This is madness. It is shocking, disgraceful, and it is bankrupting the United States, morally and financially. And Trump lied. Every word of it. Every last word.
🚨That's What it Means to Have Balls 👏👏👏👏👏👏👏👏👏 🚨It's a kind of psychopathy because they're killing people wantonly. 🚨They're killing schoolgirls. 150 schoolgirls bombed by Israel. 🚨30-year project of madness that has cost us trillions and trillions of dollars. 🚨This is MADNESS! 🚨Netanyahu's a MADMAN! 🚨Trump, let me add, is an utter DISGRACE to our nation. 🚨ISRAEL is a absolutely rogue, MURDEROUS NATION. 🚨He and the madmen in charge in the United States have brought us into this. 🚨They are systematically destroying our country as they are destroying the Middle East. 🚨If you ask why do the roads not work and the bridges not work in the United States. 🚨Why is infrastructure falling to pieces? 🚨Why are living standards stagnant or declining? 🚨It's because we spend trillions of dollars in war. 🚨Why is China advancing so rapidly, so effectively? 🚨Why does the United States have not one mile of fast rail? 🚨China just completed its 50,000th kilometer, approximately 30,000 miles of fast rail. 🚨Because China doesn't go to war. 🚨The United States is in NONSTOP WAR. 🚨Undeclared wars, about the cost to our society, the loss of freedom of being ruled by a military state, which we are, of being in partnership with a absolutely rogue, murderous nation, which is Israel, which thinks a little bit beyond its means because it thinks it has the United States to do all of its work for it. 🚨Trump, let me add, is an utter disgrace to our nation. 🚨Utter disgrace. He lied to us every word about America first. His whole premise was we're not going to do this. And he did exactly the opposite of what he said. He did exactly the opposite of what the American people say. 🚨Of course, Congress is dead for all intents and purposes. 🚨It doesn't matter whether it's Johnson or Schumer. 🚨They're useless, these people. 🚨They're all in the Zionist lobby payroll. 🚨They have squandered our wealth. 🚨They have squandered our strength. 🚨It's absolutely shocking, disgraceful, dangerous, bankrupting our country. 🚨And Trump lied. 🚨Lied every word of what he was going to do. ***Jeffrey D. Sachs is a world-renowned economics professor, bestselling author, innovative educator, and global leader in sustainable development. 👏👏👏👏👏👏👏👏👏
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The issue is the speed of warming and its effects on human habitability. The earth with be fine. Human crops will have to adapt and even with that, the carrying capacity of the earth for humans will likely be temporary reduced. Billions may die early. Tech can mitigate but that takes energy and as fossil fuels deplete that will be a huge challenge including our fertilizer supply. The sooner we learn to live without fossil fuels the better and the longer they will last for the most important uses like food and medicine.
"Global warming... is an absolute hoax. And why do I say it's a hoax? ... Because I looked at the ice core data."
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THE WORLD IS BEING MISLED TODAY. Which is entirely appropriate. Michael Parenti, who died yesterday at the age of 92, is this morning being described to millions of readers of the mainstream press today as a “Marxist academic”. But that’s not who he was. That’s a reductionist distraction—and one, aptly, coming from the reductionist press he spent his life fighting against. His real place in history is that he was one of the first people to fight against the fake labelling that the mainstream media uses to put people into dismissible boxes. When the mainstream media wants to point people away from inconvenient truthtellers, they simply stick a label on them – he’s a Marxist academic, he’s pro-China, he’s a repeater of “Kremlin talk points”, he’s a communist, he's a leftie. . GENOCIDE DENIER Perhaps the most powerful of those labels was “genocide denier” – applied liberally to Michael Parenti in the 1990s. Parenti was given that label after he wrote that 200,000 Muslims lived in Serbia, making it the most ethnically diverse region in Yugoslavia. This fact clashed dramatically with western media portrayals of its socialist government as “ethnic cleansers” who had to be “liberated” by “humanitarian action” taken by noble, goodhearted, angelic NATO warlords with their blessed missiles and troops. Since then, the western blob has thrown the label “genocide denier” against thousands of truthtellers—most egregiously by anyone who shares the truth about the Chinese Uyghurs, a group that has grown dramatically larger in literal terms and in relative terms than the Chinese Han—thus inconveniently contradicting a patently false genocide narrative championed for years by the BBC and other western media. . PAINFUL AWAKENING In 1970, Michael Parenti, a New Yorker of Italian-American parentage, was a run-of-the-mill lecturer at a university in Illinois. One day he decided to join a protest against the shootings of unarmed students at Kent State—the shocking killing of innocent young people who were correctly pointing out the very serious issues with US military intervention in Vietnam. Parenti was mercilessly clubbed by State Troopers and thrown in a cell for two days. This turned him into an active voice for truth against state power—and made him unemployable as a college teacher. . TOOLS FOR THE WESTERN ELITE Yet it wasn’t his protesting, but his books and speeches that gradually made him famous among the politically aware. He wrote that the journalists of the mainstream media were letting themselves be used as tools for the western elite’s military occupation of the western mindset—and the larger world. The mainstream media, of course, ignored his books or gave them negative reviews: “What do you expect from a guy like this? He’s a Marxist academic who repeats socialist talking points,” they pointed out. Label, label, label. The way his books and talks were framed made him sound like a far-left conspiracy theorist to anyone who showed the slightest interest in him, ensuring that they were largely ignored. But he continued to annoy them. “How odd that fewer police were needed in the communist police state than in the free-market paradise,” he asked. “You will have no sensation of a leash around your neck if you sit by the peg," he warned the public in the west. "It is only when you stray that you feel the restraining tug.” . MANUFACTURING CONSENT But then came Noam Chomsky, who powerfully echoed Parenti’s message: the media’s job, he wrote, was to manufacture consent for the US (and its little brothers the UK and EU) to use western public money to shape the world in a way that makes the rich western elite even richer. As Chomsky and others pointed out, US foreign policy said in writing that the west had an unfair amount of the world’s wealth, and the aim was to “maintain the disparity”. China, India and Africa must be kept poorer than the west. Despite the blatant unfairness of this, positive labels, including the Big Three (freedom, democracy and human rights) were given to all groups worldwide who promoted US State Department policy, and negative ones (authoritarian, communist, pro-China, pro-Putin, genocide denier) to everyone who stood up for their own communities. . RECOGNIZED AT LAST Although his last book came out 11 years ago, he has since become famous through social media – because finally, finally, many people today are realizing that Parenti was the forerunner of modern day heroes like Julian Assange, who said that the public didn’t like wars, and “had to be lied into them” by the mainstream media. In recent years, many of us have shared clips of his speeches, and passages from his writings. Michael Parenti may have passed away—but today, there are millions of truthtellers around the world spreading his message. We know what to do: ignore the labels, refuse to be taken in by the reductiveness of western mainstream media, read widely and make up our own minds about what is happening in the world. If the spirit of real journalism had a voice, it would say goodbye with a famous farewell: “Well done, thou good and faithful servant.”
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Eric Z retweeted
What the fuck is the point of the 25th Amendment if we can’t invoke it against a President who is clearly insane?
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Of all the protest videos I’ve seen this one has hit me the hardest. It’s such a unique perspective and it answers the question of “What’s the purpose of protests anyway? It’s not like they do anything.”
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A doctor of 40 years explains how Obama’s ACA made insurance costs EXPLODE. Insurers were allowed to raise premiums EVERY year — then funnel the money to drugs, pharmacies, and doctors they OWN. On paper it’s LEGAL. “This wasn’t a flaw — it was the business model.”
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Here’s the republican healthcare plan and as usual they think we’re fucking stupid so it’s more of a throw them crumbs plan bc they don’t give two sh*ts about any of us.
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This gentleman is spot-fucking-on. There is NOTHING patriotic about the cruel and sadistic policies of the pedophile führer. There is NOTHING patriotic about ICE Nazis kidnapping family, friends, neighbors, and productive members of society. 😳👇
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Hi! I’m looking for feedback on this idea. What do you think?
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Inflation Linked Savings Base What the ILSB does is it gives everyone the ownership stake in value that they’ve already created but haven’t spent. Banks currently capture that income through interest on reserves at the central bank. This covers up to some small cap of approximately three months of median income for a single person. Currently around $15,000.
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