Tag Archives: Donald Trump

Newsletter — Spring, 2020

  • My latest article, Riding the Populist Wave
  • The Economics of Peace, Justice and Sustainability
  • How can the next world war be averted?
  • System change demands economic change–building the Open Credit Network
  • Swami Beyondananda
  • Switch: How to Change Things When Change Is Hard
  • The dangers of 5G wireless technology: Warnings from an industry insider

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My latest article,
Riding the Populist Wave

In my latest article I report that capitalists now admit that the system is “rigged” in their favor. I argue that Trump and Sanders represent two edges of the populist wave that is now dominating U.S. politics, that a Sanders win over Trump is entirely plausible, that the New Deal of FDR has been systematically dismantled and needs to be reestablished, and that in the long run people will need to work together in communities to build systems and structures that can circumvent the rigged system.

Here is an excerpt, but click here to read the entire article.

There, the capitalists are admitting it–the system is rigged.

In his latest newsletter, financial advisor, John Mauldin, Co-Founder of Mauldin Economics, acknowledges that the system is rigged in favor of the wealthy and powerful, and against everyone else, including the shrinking middle-class. Mauldin says:

The “financialization” of the American economy has led to increasing income and wealth disparity. As much as it pains me to say it, the “system” really is rigged. Whatever the good intentions of the Federal Reserve in particular and the US government in general have been, it has distorted the economic feedback loops that balance a true market-based economic system. The fact is we already have “socialism” today. It’s not the socialism we feared in 1974. We have socialized the risks of capitalism, to the benefit of a small portion of the country, while a larger portion struggles.

So, Mauldin admits what has been obvious for a long time, that the U.S. economy is characterized by socialism for the rich ruling class, and dog-eat-dog competition for everyone else. He cites this fact as the main reason why political outsider Donald Trump was elected President in 2016 and why “socialist” Bernie Sanders might conceivably be elected President in 2020. I agree.

So, what do Trump and Sanders have in common?

As I see it, both are viewed by the electorate as “populist,” which ostensibly means anti-elite, Trump representing right-wing populism and Sanders left-wing populism. But, except for paying lip service to a plan to shift U.S. foreign policy away from the imperial belligerence of the deep state, Trump’s actions as President belie any anti-elite sentiment. In fact, it’s been quite the opposite.

What people want is something other than the globalist, interventionist, imperialist policies of the past several decades that have wasted enormous amounts of resources, killed hundreds of thousands of people, destroyed communities and nations, and caused political upheaval around the world. People want relief from the economic policies that have favored capital over labor by increasing capital mobility while shifting jobs from the U.S. to low wage countries especially in Asia, and at the same time reduced constraints on banks and corporations, enabling them to more fully exploit people and the environment. … More…

The article has also been published on Medium and republished at OpEd News
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The Economics of Peace, Justice and Sustainability

This video was recently prepared by Ken Freeman based on a presentation I gave at the Economics of Peace Conference in Sonoma, California in October, 2009. My prescriptions for reclaiming the credit commons and creating a new “butterfly economy” remain completely relevant, and their implementation is becoming ever more urgent.
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How can the next world war can be averted?

If you want an answer to that, listen to this interview with Dr. Paul Craig Roberts’ on Ellen Brown’s podcast, Resolved for 2020: Come Together, starting around 21:20. The most interesting part of the interview is toward the end (at 45:50) where Dr. Roberts talks frankly about the current geopolitical situation and the response to his recent article, Putin’s Hour Is At Hand, which has gone viral around the world. If you can put aside any judgments you may have made about Putin and Russia based on the chorus of Russophobic rhetoric coming from the mainstream media you may learn something important.
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System change demands economic change, by Oliver Sylvester-Bradley

In this recent article, Oliver Sylvester-Bradley of the Open Coop, announces the alpha launch of the new web platform for the Open Credit Network (OCN), a cooperative mutual credit clearing system that enables the moneyless exchange of goods and services among its member businesses. The Open Credit Network has the potential to realize the ideals and processes that E.C. Riegel expounded and that I have been elaborating and refining for the past 40 years.
https://www.thealternative.org.uk/dailyalternative/2020/1/11/open-credit-network
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Swami  Beyondananda

Swami  Beyondananda (Steve Bhaerman) makes light of the heavy. An occasional dose of Swami’s wisdom can help to keep you sane in this insane world. https://wakeuplaughing.com/.

And check out Steve’s other website, https://wikipolitiki.com/, “Where left and right come front and center to face the music and dance together, to turn the funk into function and leave the junk at the junction”
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Switch: How to Change Things When Change Is Hard

This book by Chip and Dan Heath, rated at 4.5/5 stars on Amazon.com, is one of the most important books I’ve ever read. I read parts of it a few years ago and was quite impressed but too busy at the time to finish it. Recently, as I was scanning the shelves at my local public library I noticed the audio version of the book so I picked it up and checked it out. Over the past few weeks I’ve been listening to it in my car, a few minutes at a time as I travel about town. Whether the change one wishes to make is on a personal level, an organizational level, or the societal level, this book is a treasure trove that provides important insights and basic principles about how change happens, and numerous fascinating stories that illustrate their successful application. Whether your intention is to change yourself or to change the world, this book is essential reading (or listening). Find it at your public library or at your favorite bookseller.
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The dangers of 5G wireless technology: Warnings from an industry insider who tells it all.

In a recent message, long-time correspondent Ben Levi alerted me to a video by Frank Clegg, former President of Microsoft Canada, in which he talks about the dangers inherent in 5G/Wireless Technologies. This is something that must be taken seriously; evertyone’s health depends on it. You can view the video here. Ben also recommended an alternative to 5G that he is promoting and is described at http://www.safeg.net.
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As I write this the drama surrounding the Coronavirus (COVID-19) continues to intensify. Around the world events are being cancelled, people are limiting their movements and interpersonal contacts, and many spheres of routine activity are being disrupted. Can the spread of the virus be stopped or is it destined to become, like the flu, a universal and recurrent cause of disease? What will be its social, political, and economic implications? Is there a silver lining to this dark cloud? Time will tell.

Wishing you a healthy and happy Spring season,
Thomas

Riding the Populist Wave

This, my latest article, points out that capitalists now admit that the system is “rigged” in their favor; it argues that Trump and Sanders represent two edges of the populist wave that is now dominating U.S. politics, that a Sanders win over Trump is entirely plausible, that the New Deal of FDR has  been systematically dismantled and needs to be reestablished, and that in the long run people will need to work together in communities to build systems and structures that can circumvent the rigged system.

Here is an excerpt, but I hope you’ll read the entire article.

There, the capitalists are admitting it–the system is rigged.

In his latest newsletter, financial advisor, John Mauldin, Co-Founder of Mauldin Economics, acknowledges that the system is rigged in favor of the wealthy and powerful, and against everyone else, including the shrinking middle-class. Mauldin says:

The “financialization” of the American economy has led to increasing income and wealth disparity. As much as it pains me to say it, the “system” really is rigged. Whatever the good intentions of the Federal Reserve in particular and the US government in general have been, it has distorted the economic feedback loops that balance a true market-based economic system. The fact is we already have “socialism” today. It’s not the socialism we feared in 1974. We have socialized the risks of capitalism, to the benefit of a small portion of the country, while a larger portion struggles.

So, Mauldin admits what has been obvious for a long time, that the U.S. economy is characterized by socialism for the rich ruling class, and dog-eat-dog competition for everyone else. He cites this fact as the main reason why political outsider Donald Trump was elected President in 2016 and why “socialist” Bernie Sanders might conceivably be elected President in 2020. I agree.

So, what do Trump and Sanders have in common?

As I see it, both are viewed by the electorate as “populist,” which ostensibly means anti-elite, Trump representing right-wing populism and Sanders left-wing populism. But, except for paying lip service to a plan to shift U.S. foreign policy away from the imperial belligerence of the deep state, Trump’s actions as President belie any anti-elite sentiment. In fact, it’s been quite the opposite.

What people want is something other than the globalist, interventionist, imperialist policies of the past several decades that have wasted enormous amounts of resources, killed hundreds of thousands of people, destroyed communities and nations, and caused political upheaval around the world. People want relief from the economic policies that have favored capital over labor by increasing capital mobility while shifting jobs from the U.S. to low wage countries especially in Asia, and at the same time reduced constraints on banks and corporations, enabling them to more fully exploit people and the environment.
More…

A version of the article was also published on Medium and republished at OpEd News.

Fasten your seat belts…

1/30/1981 President Reagan and David Stockman meeting on the economy in the Oval Office

In his current subscription pitch and announcement for his new book, PEAK TRUMP: The Undrainable Swamp And The Fantasy Of MAGA, David Stockman lays out some startling facts, provides a cogent analysis, and makes some dire predictions. As President Ronald Reagan’s Budget Director and long-time political insider, Stockman should be heeded. Here are some excerpts:

“We are in a whole new ball game. The Deep State, the House Dems, the Mueller hit squad and the mainstream media are all going in for the kill.

“They are determined to take the Donald down and preserve the rule of the bipartisan establishment in favor of Empire abroad and Big Government, massive debt and Fed-fueled Bubble Finance at home.

“At the same time, the Donald is now practically handing them his political head on a platter. That’s because he has bombastically embraced the “big, fat, ugly bubble” that he so accurately harpooned during the campaign.

“But that bubble has now reached a fatal triple-top and is fixing to implode, and to take the American economy and Trump’s presidency down with it.”

Stockman says, “We are heading for the double whammy of a political/constitutional crisis and a thundering financial breakdown at the same time.” He argues that it was the failure of “the Washington/Wall Street consensus” that led to Trump’s victory in 2016, and that actions of the Federal Reserve have caused a massive asset bubble along with huge disparities of incomes and wealth.

He goes on to say that “just because Donald Trump targeted the symptoms correctly [during his campaign] that doesn’t mean he had a plan to fix the American economy or the skills and know-how to move the turgid, essentially paralyzed machinery of the Federal government.” Stockman  characterizes Trump as “a political flyweight, megalomaniacal incompetent and bile-ridden bully who stumbled into the Oval Office against all odds.” He decries the massive growth of government debt over the past four decades and boldly asserts that recession will hit the US economy before November 2020, and that “Wall Street, the US economy and the Donald’s fantasy of MAGA will come tumbling down with it.” Whether or not his timing is correct, it is clear that a political and economic shipwreck is just ahead.

Stockman decries the “bipartisan ruling class” which is “in favor of permanent war, unchained entitlements, fiscal incontinence, unsustainable debt-fueled household spending, rampant corporate financial engineering and Keynesian monetary repression and “wealth effects” based central banking that lies at the roots of our current economic malaise,” and referring to the Mueller Russiagate investigation and subsequent impeachment hearings, Stockman says, “the Donald’s fluke elevation to the Oval Office has finally caused the Deep State to come out of hiding and bare its fangs against American democracy itself.”

Stockman criticizes the Fed for “dithering” and delaying “normalization,” by which he presumably means raising interest rates and ending Fed purchases of government bonds. He also calls for “fiscal rectitude” (balanced budgets) on the part of the government, something that even his beloved Ronald Reagan was unable to pull off.

But what Stockman (and everyone else) fails to realize is that, under the interest-based debt-money regime that has prevailed throughout the modern era, it is impossible for national governments to consistently balance their budgets. Here’s why. Since money is created when banks make loans, and since interest is charged on those loans, aggregate debt increases simply with the passage of time. If growth in the money supply does not keep up with debt growth, many debtors will default and the economy will sink into recession. Thus, the banking system must find ways to keep people and corporation borrowing ever greater amounts of money. Over my lifetime I’ve seen banks roll out a succession of creative schemes. Starting with the liberalization of consumer credit following World War II (“Buy now; pay later”), then the widespread issuance of credit cards, then the introduction of “student loans,” then the easing of requirements for people to buy real estate, banks have gotten people to borrow more and more.

Then, when the private sector is all “loaned up” and cannot take on additional debt, the government must step in as “borrower of last resort.” By deficit spending, financed through the issuance of bonds, the national government, with the help of banks that buy those bonds, the money supply is expanded. (When banks buy government bonds they are making a loan to the government). And when all available funds have been sucked up, the Fed must step in as “lender of last resort” to itself buy up additional government bonds while keeping interest rates at acceptable levels. That approach, called “quantitative easing,” is what saved the global system of money and banking from total collapse in 2008 after the housing bubble burst. Thus, the government and the banking establishment are locked together in a deadly embrace and “dance of death” that is spiraling out of control.

It may very well end with a major decline and long drawn out recovery, as Stockman is predicting, but unless a new interest-free money system is implemented after the wreckage is cleared, the ultimate outcome may simply be another round of ever more extreme boom-bust cycles and political chaos.

The good news is that there are credit money innovations waiting in the wings, and now emerging, that can be rolled out, replicated, and networked together to usher in a “Butterfly Economy” and new world order of peace, justice, and human unity. For details about what the Butterfly Economy might look like, and how we might get there, see my video, The Butterfly Economy: How Communities are Building a New World From the Bottom Up, and my article, Reclaiming the Credit Commons: Towards a Butterfly Society. — t.h.g.

Politics and the people

I’ve rarely had any enthusiasm for any candidate for federal political office, Democrat or Republican, because I know they have all be bought off by the power elite whose agenda is to dominate and exploit at any cost.

What I have been passionate about is a movement to promote social justice, economic equity, personal freedom, ecological restoration, community empowerment, peaceful relations with all, and human unity.

Surprisingly, in the current Presidential campaign, a candidate has emerged who seems to have the courage and ability to lead the political arm of such a movement. This recent message from Tulsi Gabbard speaks for itself:

This desperate coordinated campaign by the establishment elite and its backers in the corporate media can only mean one thing: They’re afraid of us. Afraid of the clear evidence that our movement is growing stronger every day, our message getting louder and harder to ignore:

The New York Times, CNN, the DNC, Hillary Clinton, her proxies; They’ve shown they’re afraid of our movement to dismantle the for-profit American war machine, to finally make Big Pharma pay for its predatory policies, to decriminalize marijuana and reform our broken criminal justice system, to make polluters pay for the devastation they’ve caused to our planet, our air, our water. 

They’re afraid of a Party reform agenda that will root out the corruption and rot, and re-establish the Democratic Party as the big tent party that looks out for the little guys. The Party that is truly of, by and for the people.

Are you up for it? 

Neither Tulsi nor anyone else can be our “savior.” It is still up to “we the people” to save ourselves, but part of that involves promoting a standard bearer who expresses our needs and desires and will work to implement policies that promote the common good.

Donald Trump promised to do a lot for the people, but has delivered very little. In fact, he has done much to damage us further. While he has made some moves to shift US foreign policy away from endless regime-change wars and covert interventions, his actions have been erratic and mutually-contradictory. His tax policies have increased income and wealth disparities, his energy policies have further damaged the environment and ecological balance, his immigration policies have done nothing to address the root cause of the refugee crisis, his trade policies, while seemingly well-intended, have damaged many American businesses, especially the small and medium sized enterprises he purports to champion.  

We can do better. We need a leader who can unify the people in common cause. I think Tulsi Gabbard is that leader.

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President Donald Trump – the first two years


The American people elected Donald Trump to shake things up, and, for better or for worse that is what he’s been doing. Most of what Trump has done in the first two years of his presidency has been destructive—to the environment, to social justice, to economic equity, and to civil discourse. But whether he knows what he is doing or not, he has been shaking up America’s longstanding foreign policy in a way that I think is positive. The United States, under both major parties, has, since the fall of the Soviet Union, been working to maintain “full spectrum dominance” around the world. It has been bent upon constraining the power and influence of potential rivals like Russia and China, and promoting by both overt and covert means, regime change in numerous countries around the world in hopes of installing puppet regimes that would be subservient to the demands of the “New World Order.”

Trump may very well be a narcissistic “loose cannon,” and his intentions may be purely self-centered and aimed at self-aggrandizement, but many of his foreign policy actions are moving the world in the direction that it needs to go, i.e., towards a multi-polar world order. He is doing this by (1) trying to cooperate and normalize relations with Russia, (2) pressuring Britain and Western European (NATO) allies, thus undermining longstanding alliances, and (3) upsetting prior trade agreements via the imposition of tariffs.

The turmoil in Washington politics has at times been almost comical, as we’ve seen the evident tug of war between a strong-willed President with his own ideas, and the entrenched “deep state” that is controlled by the elite global power establishment. This has been evident in some of the presidential appointments that seem at odds with Trump’s rhetoric, like the appointment of super-hawk and Russophobe, John Bolton as national security advisor.

The appointment of John Kelly, as White House Chief of Staff, was supposed to control Trump, but now Trump has ousted Kelly and named Mick Mulvaney as his temporary replacement. Does that indicate a power shift in Trump’s favor? Or now that the Democrats have taken control of the House, will they be able to tie Trumps hands?

Time will tell.

What in the world is going on? — Part 4

In this interview below Paul Craig Roberts describes the neo-conservative ideology that has driven geopolitics since the end of World War II, and discusses the elite agenda, the prospects for the Trump presidency, and the US economy.

He comes closer than in his earlier statements to highlighting the key control mechanism of domination—the global money system, but still falls a bit short, as indicated by his statement that if there is a severe economic crisis in the US, the Federal Reserve “will have to abandon the banks and save the dollar.”

On that I disagree. Roberts seem not to realize that the FED, as well as virtually all of the other central banks of the various countries around the world, is controlled by the big transnational banks, and that they work together to, as Prof. Carroll Quigley said, create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.

The banking elite thereby control not only the dollar, but all of the other major world currencies. If the inflation rates or unemployment rates become too high in one country, the central banks can spread the misery around by monetizing various securities and manipulating interest rates and currency exchange rates.

For the past several decades the US dollar has been their primary monetary tool, but the dollar is not the be all and end all in their schemes. You can be sure that the banking elite always have a plan. At some time in the not too distant future when the dollar has outlived its usefulness, it will be replaced by a single global currency that will give the elite even tighter control over financial, economic, and political affairs around the globe.

The flies in the ointment of their plan are (1) a few governments that are bent on steering an independent monetary and financial course, and (2) the emergence of independent, non-governmental and decentralized exchange mechanisms and currencies. In the first case, Iraq under Saddam Hussein and Libya under Gaddafi were easily disposed of (but at tremendous costs). Russia and China pose a much bigger problem for the elite, hence the stalemate in Syria and the drum beat of propaganda against Putin and the fear mongering against the Chinese. With regard to alternative exchange mechanisms, the proliferation of virtual commodities like Bitcoin and others suggests that elite control may be vulnerable to innovative and disruptive technologies. But these virtual commodities mark only the beginning of the new paradigm in money and finance. Ultimately, ways will be found to create an “internet of credit” based on decentralized, personalized, local control and backed by real goods and services.

What in the world is going on? — Part 2

Paul Craig Roberts has been inside and outside of the U.S. Government. He served under President Ronald Reagan and was a colleague of Zbigniew Brzezinski at the Center for Strategic and International Studies, where Roberts occupied the William E. Simon Chair in Political Economy. He has had a unique vantage point from which to observe over his long career the dynamics of power and global developments. His website is a treasure trove of commentary that provides clear insight into what in the world is going on.

His recent post, Washington’s Empire Is Not Unraveling,  argues that despite president Trump’s recent actions, the military-industrial-financial complex remains firmly in control and the agenda of “full spectrum dominance” is still on track.

He points out that, with the help of the mains stream media, “Americans and the world are blinded to the fact that there are power centers that constrain a president and are capable of substituting their agendas for the agendas on which the president campaigned.”  Read the full article here.

And for insights into how the global financial system is malfunctioning, in addition to David Stockman, whom I mentioned in Part 1, you also need to follow Chris Martenson via his website, Peak Prosperity. In this video, https://youtu.be/E1g57mjGcGc he talks about the massive inflation of money that has characterized recent actions by three major central banks, the Federal Reserve, the Bank of Japan, and the European Central Bank. All three have been furiously “printing money” which they use to buy securities, thus creating asset bubbles–not a good sign for long-term prospects.