As I wrote to Mike privately awhile ago, the essence of his solution, Mathematically Perfected Economy, is at once an economic principle and an ethical one. The principle is that of non-intervention; a principle which is found at the heart of Democratic Theory. His conception appears to my mind as an economic analog to the conception of civil liberties which seeks to guarantee for each individual all those freedoms which are consistent with the same guarantee for every other individual. In its economic manifestation it can be stated as follows (Mike’s definition of MPE): It 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.
From this perspective it should be abundantly clear that bankers as legally sanctioned usurers and faux creditors have no place in a democratic society. They are neither desirable nor necessary. They should be no more welcome than slave owners, political dictators or murderers. They have no right to insinuate themselves into economic relations as the only legal arbiters of debt and credit. But having done so, they have impaired every other freedom inherent to the democratic ideal and continue to prevent a truly free market economy from taking shape.
Jim Eldon, December 30, 2008 Response to Ellen Hodgson Brown
RESPONSE TO PETER J. COOPER’S GOLD BUG WEBLOG
This page briefly responds to a gold bug’s anxious anticipation of a 2009 DOW “equaling” gold:
US ECONOMIC IMPLOSION
Obviously only a terrible implosion of the US and global economy could produce such a massive shift in asset values. But I fear that is what is coming in 2009 and the moment to prepare for it is now before it is too late.
Just look at those US auto figures for November, down 37 per cent, and that is the figure across the board - the Japanese and Korean manufacturers also got their sales walloped, albeit Chrysler took the biggest hit of 47 per cent.
No manufacturer on earth has profit margins big enough to absorb that sort of a sales collapse. That it is the largest consumer goods section of the world?s largest economy just sets the whole US economy up for a collapse. The only historical parallel is 1930.
The article to which we respond advocates buying gold.
Gold has no power to save us. You can’t eat it. Its finite quantity cannot sustain industry requiring a circulation far beyond the finite quantity. It cannot arrest multiplication of debt by interest, as we are compelled to maintain a vital circulation by re-borrowing principal and interest paid out of the general circulation to service the sum of debt… as an ever greater and eventually terminal sum of debt. This manifestation of the obfuscation of the role of creditor, which gold/silver have no power to rectify, of course is the cause of the so called “credit crisis” ??a sum of debt which we can no longer afford to service, which destroys our credit-worthiness to borrow further as we must to maintain a vital circulation, with the final payments against the existing sum of debt depleting the circulation and leaving us ever less capable of sustaining the industry which must collapse under the weight of the debt and vanishing circulation together.
Because they make themselves count on unearned gain themselves, those who buy gold or silver to hedge their positions against an inevitable failure soon enough become predisposed against solution. They become enemies of the one and one only manifestation of a truly free market, in which every prospective debtor can and would issue their promise to pay, free of extrinsic manipulation, adulteration, or exploitation of that promise, or the natural opportunity to make good on it.
Today, while unearned gain and hedging of wealth is championed in lieu of monetary solution, all the present problems ??even those of the hedger and secondary exploiter of the wastage of usury ??all the present problems descend from obfuscation of the role of creditor for the unbending purpose of exploitation. This is your real issue, and its solution is your only possible protection of your wealth, because if you do not rectify multiplication of debt by interest, you will, as Thomas Jefferson and so many others warned, you will be dispossessed of your wealth, your gold, your silver. A bar of gold may soon not buy a tomato.
As I say, it is impossible to maintain a vital circulation without re-borrowing principal and interest as ever greater sums of debt, with the sum of debt thus inherently and irreversibly increasing so much as ever greater periodic sums of interest on an ever greater and eventually fatal sum of debt. That day is here. But why is it here? It is here because you evade solution to your own demise, and to the demise of all the rest of us. The only reason you suffer this terminal multiplication of debt is because you allow exploiters to pretend the role of creditor, to merely publish the promises to pay of all debtors at virtually no cost whatever to the pretend creditor; and then, as if the costless promises of the debtor represented real, earned wealth of the pretend creditor, you allow that pretend creditor charge the debtor for their own promise to pay. This wholly unjustifiable intervention on the natural relationship of the real creditor (who gives up real wealth for the promise to pay) inevitably dispossesses the subject system of all wealth by the vehicle of exploitation, which is the obfuscated currency ??a currency which is the promise to pay of the debtor, published without cost by a pretend creditor, who thus denies the real creditor of “interest,” pretending further all the while, that the earned wealth being at stake justifies interest.
Of course, the real creditor is paid in full from the outset, and asks no interest. So the whole scam is bogus. But it inevitably destroys every subject nation.
Come to my garden after the curtain falls with your gold, and if I can figure something worthwhile to do with it, perhaps I’ll sell you a tomato.
I’m advised that while my post to Mr. Cooper’s Blog shows up on my system, it is not displayed on others’.
- PETER J. COOPER’S WEBLOG, “2009 DOW TO EQUAL GOLD”
- [?KEY?]??THE PROBLEM IS NOT DEBT!
- [?KEY?]??IF I WERE PRESIDENT ??HOW TO ARREST WORLD WIDE MONETARY COLLAPSE IN A DAY
- SYNOPSIS ??MATHEMATICALLY PERFECTED ECONOMY? REDUCED TO ITS BAREST THREAD
- PROBABILITY AND TIMELINE FOR WORLD-WIDE ECONOMIC COLLAPSE AS A CONSEQUENCE OF INTEREST
- EVALUATION OF JEFFERSON’S OPINION ON THE CONSTITUTIONALITY OF A NATIONAL BANK
- WHY DON’T THE DEMOCRATS REVERSE WILSON’S ERROR, AND REPEAL THE FEDERAL RESERVE ACT?
“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)
? COPYRIGHT 2008, by mike montagne and PEOPLE For Mathematically Perfected Economy?.
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