Executive Summary It is often assumed that politicians understand the role of taxes are they are in the government. The evidence is that politicians do not understand that taxes are not used for expenditures. Introduction Goverments that can create their own money do not need or use tax receipts for government funding. Governments that can…
Executive Summary It is often stated that governments must collect taxes to pay for their budgets. For governments that create their own money, this is false. Introduction When the government issues its own currency, taxes are not necessary. Taxes are necessary when a government cannot issue money (that is without a private central bank). However,…
Executive Summary Debt ceilings are a scare tactic that supports private banking interests attempting to set arbitrary limits to the federal debt. The concept ignores the ability of governments to create money. Introduction Debt ceilings are hotly debated topics. Those individuals who do not take federal debt “seriously” are called “irresponsible” and passing on our…
Executive Summary Banks that serve a public service function exist in the US and Germany. These are the US credit unions and the German Sparkasse banks. About Credit Unions of the US Credit unions are local banks that were at one time set up as non-profits. They historically stuck to a narrow range of services…
Executive Summary The following is a very different interpretation of trade deficits than is provided by mainstream economists. We evaluate this interpretation and provide our view. Introduction Normally countries try to stay away from trade deficits. An entire type of economics, called mercantilism, of which Adam Smith was a major proponent, was centered on running…
Executive Summary The excellent book Banking on the People was so good, it was necessary to record some quotes. Introduction This is the third book by Ellen Brown called Banking on the People. The Evils of the Wealth Gap But the evils to which we are accustomed may no longer be sufferable the wealth gap…
Executive Summary The excellent book The Web of Debt was so good, it was necessary to record some quotes. Introduction This book explains the problem with private banking and why banking should be public. It provides a tremendously insightful explanation of the history of private banking interests and how previous battles between private and public…
Executive Summary The excellent book The Next Economic Disaster was so good, it was necessary to record some quotes. Introduction This book explains research into the relationship between private debt to GDP ratios and economic declines. Richard Vague began this research as follows. But back in 2009, in the aftermath of the Great Recession, Vague…
Executive Summary There are many statements made about the appropriate debt level of countries. What is often lacking is comparative evidence of how private debt and public debt contribute to or undermine economic performance. Introduction There is great debate as to what is the correct level of private debt. This article will look at different…
Executive Summary The largest countries designed the EU in the EU to serve their needs. We cover how the EU has done exactly what it was designed to do. Introduction The EU was introduced using a large number of false claims. The intent of the EU was always for the large EU countries to subordinate…