Corporate News Repeats CIA Propaganda On Bolivian Coup

So we have to get our real news from a comedian. What else is new? Perhaps we can rebut all the baloney we are getting from the oligarchs’ news media about Bolivia.

YouTube has the video Corporate News Repeats CIA Propaganda On Bolivian Coup.

As you watch this video, remember this definition.

Heterodox – not conforming with accepted or orthodox standards or beliefs.

MMT (Modern Money Theory) is a theory that has the property of being heterodox. Of course MMT is merely an explanation of how money works in the real world. That is why it is heterodox. The oligarchs’ economic experts don’t want us ordinary folk to understand how money actually works.

November 21, 2019

It is nice to know that I am appreciated.

Jimmy Dore Show loves my comment,

Bernie Gets It Done

YouTube has the video Hear the Bern Episode 32 | Bernie Gets It Done (w/ Warren Gunnels).

Next time someone asks you what Bernie has accomplished in his career, send them this podcast and tell them that we had to leave the better part on the cutting room floor just to get it under an hour. Featuring veteran policy advisor to the Senator, Warren Gunnels.

If you want to understand what “Us, not me” means in practice, this is a good video to watch.

Tulsi Gabbard’s Unifying Keynote Address at Muslims for Peace Conference

I am seeing some of my Hindu friends publishing more and more intolerant items about Islam. I was hoping this Tulsi Gabbard video might make them stop and think. They don’t seem to see in this video what I see. Tulsi Gabbard’s Unifying Keynote Address at Muslims for Peace Conference.

I put this here on my blog so that I have easy access to it as a response to the hate speech against Islam when I see it.

Just to be clear, I am in the cohort that Tulsi mentions that does not follow any spiritual path, nor believe in any religion, nor any supreme being. Maybe that’s why I feel it easier to let go of some of my childhood prejudices.

I should also say something about the word “tolerance”. I want to refer to a book I read, but I just cannot quite recall enough to bring it up to quote it. I guess this will have to do. Genuine Respect for Other Faiths.

Hindu Dharma believes that no particular religion is better than another; all genuine religious paths are facets of Bhagwan’s pure love and light, deserving tolerance and understanding. Hindu Sanatan Dharma not only teaches tolerance for other religions but respect as well.

I just found the book Being Different: An Indian Challenge to Western Universalism by Rajiv Malhotra.

Rajiv Malhotra’s insistence on preserving difference with mutual respect not with mere tolerance is even more pertinent today because the notion of a single universalism is being propounded. There can be no single universalism, even if it assimilates or, in the author’s words, digests , elements from other civilizations –Kapila Vatsyayan

Max Keiser Avoids Bitcoin Discussion With Michael Hudson

RT has the episode of the Keiser Report Trump: Easy to read (E1463).

In this episode of the Keiser Report, Max and Stacy discuss the former top trade negotiator for China, who claims that dealing with Trump is great that he is so easy to read, thanks to his non-stop tweeting. They also discuss Venezuela’s president, who is holding up a bitcoin hard wallet, just a year after the UK refused to return his country’s gold. In the second half, Max talks to Dr. Michael Hudson of about repo markets, national debt, China, trade wars, and more.

Max and Stacy go crazy over bitcoin again. I have always hoped that Max would have a conversation with Michael Hudson who could straighten out Max’s bitcoin mania.

Max did a great job of papering over Michael Hudson’s opinion of bitcoin. Hudson did manage to sneak in a subtle criticism of bitcoin, but Max carefully steered the conversation to make sure that the criticism was suitably subtle. Max just cannot seem to accept that a “currency” created out of nothing, like bitcoin, is just a non-government fiat currency. When he has to resort to baseless claims about human nature, you know he is getting to the point of desperation.

Bitcoin may remove the ability of a single entity from deciding how much of that currency is in circulation, but there are pros and cons to this difference. A straight up conversation around this between Keiser and Hudson would be great.

November 18, 2019

An interview by Laura Flanders popped up on my Facebook Timeline – Monopoly Capitalism: At The Breaking Point?.

Toward the end of the Michael Hudson segment he was able to tell Laura Flanders what he thought of BitCoin that he didn’t dare say to Max Keiser.

Laura Flanders: Some people talk about BitCoin and these other kinds of currencies. They were seen as radical at one point.

Michael Hudson: I don’t think so. It’s Fictitious money. It’s tax avoidance. It’s really criminal money. …

Non-Financial Private Debt Overhang: Post War German Debt Reforms as a Model for a Modern Debt Jubilee?

Naked Capitalism has the post Non-Financial Private Debt Overhang: Post War German Debt Reforms as a Model for a Modern Debt Jubilee?.

The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up … It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something … The only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly.

It is very important to understand that private debt overhang is a substantial threat, as opposed to public debt in countries like the USA with a sovereign fiat currency. Public debt and private debt are two very different animals. The private sector is not an issuer of sovereign fiat currency. Please read the article if you did not understand the difference.

The Idiocy Of Focusing on Ukraine to Impeach Trump

The Gray Zone has a two part interview starting with the article Trump meddled in Ukraine, and he’s not alone. If ads come up on YouTube, I have been able to pause the ad, and get an option to skip the ad.

The indictment of all of Washington D.C. just gets worse and worse as they second part of the interview occurs with the video US arming of Ukraine is a scandal on its own.

You would never know about this hidden story if Max Blumenthal didn’t quote to you from obscure articles and editorials in the oligarchs’ news media itself. Of course, Max has done his own independent journalism on the story. If you try to keep track of the Ukrainians named in these interviews it could be almost as hard as reading a Tolstoy novel.

Rising has an interview with Aaron Maté: Why Democrats will regret lionizing the national security state on impeachment that gives you a hint at what is in his interview with Max Blumenthal.

Plato: The Republic

Stumbled across the article Plato: The Republic on the Internet Encyclopedia of Philosophy.

The dialogue explores two central questions. The first question is “what is justice?” Socrates addresses this question both in terms of political communities and in terms of the individual person or soul. He does this to address the second and driving question of the dialogue: “is the just person happier than the unjust person?” or “what is the relation of justice to happiness?” Given the two central questions of the discussion, Plato’s philosophical concerns in the dialogue are ethical and political.

I haven’t had the time to read this whole article, yet. Perhaps if I had read this back in my college freshman course in humanities, I might have actually passed the course. Of course, there was no internet back then. More’s the pity.

Give us this day, our daily billions

RT has the Keiser Report episode Give us this day, our daily billions (E1461)

Max and Stacy discuss the crybabies on Wall Street begging for billions and living in constant fear while the rest of the economy continues to live and thrive in the real world without non-stop free money.

Max just hates the USA dollar because it is backed by nothing, but he loves crypto-currency because it is backed by —— real nothing. I have yet to understand why crypto-currency nothing is better than USA dollar nothing. Built into the mathematics of bit-coin is a limit on how much can be produced. This all came into being from someone’s imagination. I suppose that when we run out of new bit-coin nobody will be able to imagine what comes next. If you know the history of computers it might be byte-coin which is 8 times as powerful as bit-coin. Maybe it will be quantum-coin.

MMT and Notional Money

As a devotee of Modern Money Theory (MMT), it sometimes bothers me how much ignoring of reality can come from the people who claim to be just explaining reality.

The Gower Initiative for Modern Money Studies has the article Gilts and Bonds. In their Facebook intro to this article, they write the following:

The only place that net financial assets or financial wealth can come from is the government. The currency-issuing government, via its own central bank, uses its taxing and spending powers to create and destroy (spend and tax) net financial assets into and out of the non-government sector.

My response to that comment is

How about the trillions and trillions of dollars of notional money that disappeared when the real estate derivative market crashed? Notional money may not be real, but it has a giant impact on the economy.

Investopedia has an article Notional Value that explains this concept of notional value.

Stephanie Kelton: The Public Purse

YouTube has the video Stephanie Kelton: The Public Purse.

As part of the lecture series between UCL Institute for Innovation and Public Purpose (IIPP) and the British Library, Stephanie Kelton speaks on why a government budget should not be looked at in the same way as a household budget

Stephanie Kelton always does such a good job of explaining this. Elect Bernie Sanders, and you may find Stephanie Kelton explaining more of the way the world really works than she has managed so far.

I have now seen the whole video, and it is even better than I had hoped for. She got a range of questions and she gave answers on topics that I had not heard her speak about before. She talked about the job guarantee verses universal basic income. She talked about the need to change the political reality from the bottom up. A whole range of good stuff.