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PEOPLE For Mathematically Perfected Economy™ (PFMPE™) : mathematically perfected economy™ (MPE™) is the singular integral solution to 1) inflation and deflation, 2) systemic manipulation of the cost or value of money or property, and 3) inherent, irreversible multiplication of debt in proportion to a vital circulation, engendering inevitable systemic failure at a finite system lifespan defined by an inevitable, terminal sum of insoluble debt. Mathematically Perfected Economy™ is every prospective debtor's right to issue their promise to pay, free of extrinsic manipulation, adulteration, or exploitation of that promise, or the natural opportunity to make good on it.
Invalidation of G. Edward Griffin's Creature From Jekyll Island Obfuscation
Saturday, May 31, 2008
Invalidation of G. Edward Griffin's Creature From Jekyll Island Obfuscation Of The Need To Re-borrow Interest To Maintain A Circulation
After tracing site traffic yesterday to a DailyPaul Forum thread started by the good Mr. Shovelhead, the kind of misunderstandings on which a republic will perish begged response to G. Edward Griffin's Creature From Jekyll Island obfuscation of the need to re-borrow interest to maintain a circulation.
From Griffin's suspicious twist, and even as debt continues to multiply in proportion to the circulation or our capacity to service debt, forum participants had drawn faulty conclusions either that it is impossible to perfect economy, or that it is not even necessary to solve inherent multiplication of debt by interest.
To Mr. Shovelhead's exemplary credit, he could not concur in the other reader's unqualifiable deductions. But the obvious expense of Griffin's resultant confusion therefore is collapse under untended further multiplication of insoluble debt, unless Mr. Griffin's reassurance that no such problem exists holds water.
Even if Giffin's intended point were true however, it provides no foundation whatever to rightly deduce that it is impossible to perfect economy, or that mathematically perfected economy™ does not solve the breadth of monetary improprieties observed by others, and assumably, even by Mr. Griffin himself (for he wrote a book ostensibly against an entity, the only imposed process of which is "interest"). But it is in fact impossible for Griffin's irresponsible obfuscation to represent the whole quantified cycle of interest, as it would have to, if his deception were to certify the impression he wants you to take from it.
Griffin's obfuscation instead is limited to the mere idea that one of the issues solved by mathematically perfected economy™ does not exist. The promise Griffin hopes an unthinking readership to assimilate, is that it is not even necessary or right to perfect an economy of multiplication of debt by interest, even as every debt subject to interest is multiplied even in its initial case by interest; and as perpetual multiplication, suffered merely in maintaining a circulation, certainly would result in collapse, and even the terminal conditions mounting everywhere around us.
We of course then cannot afford to underestimate or misunderstand the latter potential issue of inherent, irreversible and terminal multiplication of debt in proportion to a circulation, by interest.
But Griffin attempts to refute just this proposition only, by providing an example which cannot possibly account for multiplication of debt across a whole system subject to interest. In fact, to accomplish the purpose of invalidation, all those who deny the proposition of this terminal imperfection must demonstrate that no interest whatever is re-borrowed as would inherently increase the sum of debt in proportion to a circulation. Thus Griffin's obfuscation must account for every cent of interest paid out of the general circulation — something which we shall soon see is obviously impossible.
RELATED EXTERNAL MATERIAL
The Pledge of G. Edward Griffin's Creature From Jekyll Island
Rather than answering the issues raised in the principles of mathematically perfected economy™, Griffin simply invents and answers his own questions, ostensibly intending to invalidate the fact of inherent, perpetual, irreversible, and terminal multiplication of debt in proportion to a circulation, which obviously would be solved by the third aspect of mathematically perfected economy™. Even rather than to attack the obvious solution, he purposely further refrains from answering for the whole quantities by which interest multiplies debt in proportion to a circulation:
'One of the most perplexing questions associated with this process is " Where does the money come from to pay the interest?" If you borrow $10,000 from a bank at 9%, you owe $10,900. But the bank only manufactures $10,000 for the loan.  It would seem, therefore, that there is no way that you - and all others with similar loans - can possibly pay off your indebtedness. The amount of money put into circulation just isn't enough to cover the total debt, including interest.  This has led some to the conclusion that it is necessary for you to borrow the $900 for the interest, and that, in turn, leads to still more interest. The assumption is that, the more we borrow, the more we have to borrow,  and that debt based on fiat money is a never-ending spiral leading inexorably to more and more debt.
This is a partial truth. It is true that there is not enough money created to include the interest,  but it is a fallacy that the only way to pay it back is to borrow still more.  The assumption fails to take into account the exchange value of labor. Let us assume that you pay back your $10,000 loan at the rate of approximately $900 per month and that about $80 of that represents interest. You realize you are hard pressed to make your payments so you decide to take on a part-time job. The bank, on the other hand, is now making $80 profit each month on your loan. Since this amount is classified as "interest," it is not extinguished as is the larger portion which is a return of the loan itself. So this remains as spendable money in the account of the bank. The decision then is made to have the bank's floors waxed once a week. You respond to the ad in the paper and are hired at $80 per month to do the job. The result is that you earn the money to pay the interest on your loan, and - this is the point -the money you receive is the same money that you previously had paid. As long as you perform labor for the bank each month, the same dollars go into the bank as interest, then out the revolving door as your wages, and then back into the bank as loan repayment.'
Even Ron Paul has used my term, "insoluble debt."
What makes *any* of our debt "insoluble," if in fact it is practical to repay it as Mr. Griffin evidently asserts?
What is wrong with Griffin's mere trivialization of the perpetual costs of interest?
If we're going to be a republic which resolves its issues, we must answer these questions.
As all the propositions which conflict with mathematically perfected economy™ beg us without qualification to behold that we suffer "inflated" circulations, nonetheless the money in circulation in fact is far less than the remaining value of all related assets. This means we suffer *deflation*.
Furthermore, because interest is the only process attached to the currency, actual deflation further means that the rising costs of all things can only be driven up by the rising costs of servicing the multiplying debt everywhere around us, as opposed to the unqualified proposition of circulatory inflation [another new/unique MPE term].
Moreover then, the further unqualified proposition that having circulatory inflation, we the subjects of the system would simply charge ourselves to death, trying to increase profit without need... this proposition cannot possibly even come to play.
These ideas are plainly hideous.
But far worse; they are even terminally destructive if for any of them, we further succumb to multiplication of debt by interest.
If the advocates of these opposing and more recent propositions were right on any count, then having the circulatory inflation we do not have, and further presuming Mr. Griffin's celebrated obfuscation refutes the very existence of inherent, irreversible multiplication of debt by interest, then how is it even possible that the present sum of debt exceeds the circulation, especially since we cannot have borrowed more circulation than we have borrowed?
The very inconsistencies of these vital quantitative irregularities instead refute the pretended expertise of Griffin's invalidation.
Look around you; how many of us are actually earning money from a bank? How much of our total production is consumed by banks? How much even can be?
In order for Griffin's obfuscation to invalidate the fact debt is multiplied by interest to the degree we are forced to re-borrow interest and principal as subsequent sums of debt increased *so much as* periodic interest on the sum of debt, *every cent* of interest and principal must be earned back by subjects of the system otherwise maintaining said circulation.
In other words, the only way that can happen is that whenever *we* build a house and have to finance our production with money created without cost and yet subject to the unjustified and unjustifiable processes of interest... if the bank charges us 2 or 3 houses in interest, then every time we build such a house, we must do so much as build the bank 2 or 3 houses to avoid multiplication of debt by interest.
All across the system, if debt is not being multiplied by interest, every penny of interest is being earned back from the so called banking system. If there is no such evil then, why did Griffin write his book so many years after the same history my work raised?
Because the so called Federal Reserve is private, when the effects of interest are the same, regardless of the public/private nature of the issuing entity?
We never have and we never will nullify multiplication of debt in proportion to the circulation by interest except by eradicating interest, because it is not even possible for the so called banks to consume so much of our production.
Nor would it be to our true benefit, if they did so.
RELATED EXTERNAL MATERIAL
RELATED PRIMARY ARTICLES
RELATED REFUTATIONS/REVIEWS OF CONTROVERSIAL MONETARY PROPOSITIONS
"To find the players in all the corruption of the world, 'Follow the money.' To find the captains of world corruption, follow the money all the way."
mike montagne — founder, PEOPLE For Mathematically Perfected Economy™, author/engineer of mathematically perfected economy™ (1979)
REFUTATION OF CONTROVERSIAL MONETARY PROPOSITIONS, REVIEW OF OTHER MATERIAL
REVERSE CHRONOLOGICAL ORDER
pfmpe[ at ]perfecteconomy[ dot ]com
Gross National Public Debt Clock
"National debt," perhaps better said to be "federal debt," refers only to public debt accumulated by the federal government. National debt does not include the even greater sum of private debt, or further public debt accumulated by state and local governments.
PER CAPITA, THE CURRENT FEDERAL PUBLIC DEBT COMES TO APPROXIMATELY THIRTY-THOUSAND DOLLARS.
FIGURED AT THE ROUGH SCALE USED BELOW TO DETERMINE RESPONSIBILITY FOR PRIVATE DEBT, THE AVERAGE FEDERAL DEBT WOULD BE ROUGHLY $93,750 PER ELDER ADULT MOST RESPONSIBLE FOR THE ACCUMULATION OF FEDERAL DEBT. BUT LIKE PRIVATE DEBT, THE UNDUE BURDENS OF THIS SHARE WILL SIMPLY BE SADDLED UPON YOUNGER GENERATIONS.
PER CAPITA U.S. PUBLIC AND PRIVATE DEBT
Estimates of the sum of private and public U.S. debt together, accounting for potential Social Security and Medicare liabilities as of November, 2007, run as much as more than $96 trillion; or $320,000 per capita even for infants; OR AN AVERAGE OF ROUGHLY HALF A MILLION DOLLARS PER ADULT.
THIS EQUATES TO ROUGHLY $1 MILLION PER ELDER ADULT, MOST RESPONSIBLE FOR ENGENDERING THIS DEBT.
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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.
There is no other solution. Regulation can only temper an inherently terminal process.
If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.
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