Banks

what does a bank produce? – loans -if a bank does not produce loans – it is essentially defect and may as well be closed

is unconditional basic income aka “free money” for the masses good or bad?

what would be much more important than monetary gifts (see unemployed people in eastern Germany even when given “free money” are unsatisfied because they have no work/no meaning/purpose in life.

What would be important to put in requirements and regulations that say banks must lend 90% of their newly digitally self-generated money and FED/ECB cash 0% (which is essential also “free money” (interest rate = the costs of money/currently: no costs))  to entrepreneurs and self-employed people and people with ideas that want to become entrepreneurs

currently it works like this:

a private bank borrows 1bn Cash from FED or ECB
for 0% or almost 0% and instead of phoning up and investing in ads “have an idea? here is your loan” providing the economy and innovative people with cheap money to turn ideas into reality and create jobs – it is – at least in the EU area largely put back into an ECB accounts even when that means paying “parking fees”.

https://www.merkur.de/wirtschaft/ezb-warum-banken-strafzins-zahlen-6709249.html

“but have to pay ample penalty interest due to high liquidity surpluses”

Wirtschaftsminister kritisiert Banken für zögerliche Kreditvergabe

“they (the banks) said,” We don’t give you credit, because we don’t know how long you can’t produce, how long the corona crisis will last.“

money that is not put to work / does not create jobs is a defective monetary system and needs to be fixed or risk major unrest.

a unconditional basic income (UBI) makes sense at this point in time / in this situation that banks fail at bringing “money to the (real) economy” / banks do not want to bring money into working hands thus the state and the customer must do it.

It would be the best economic program ever.

everyone would get 1000USD or 1000€ a month for a limited time – let’s say one year – then check how the economy performed.

and repeat or stop – but at least try.

then, of course, there is the question of sustainability

of course, it would be great to link a UBI directly with requirements for more sustainability such as:

  • electricity providers must be changed if not 100% of energy comes from renewable sources

there are two reasons why UBI might be prevented:

  1. the banks are convinced, that printing money for themselves is “fine” while printing money for “jill and joe” would lead to Inflation (does not make sense to me)
  2. why is the tax system so complicated? because it creates senseless jobs / so it is simply a job creation measures / a lot of administrative jobs could go away if UBI replaces all the complicated social programs and maybe even pension

Bernard Lietar würde sagen: “you can be schwachsinnig, but it’s dangerous”

2019-12: Warum funktioniert unsere Wirtschaft nicht?

Dirk Ehnts gibt Antworten.

Modern Monetary Theorie – ein INTERVIEW mit Dirk Ehnts

  • Bundesregierung inkompetent (nur mit Juristen aber ohne Ökonomen besetzt?)
    • intelektuelles Versagen: “Politik hat nicht verstanden was da passiert”
  • Bachelor Studium estes Semester:
    • Q: Was macht ihr wenn die Ökonomie ein Nachfrageproblem hat und die Beschäftigung sinkt?
    • A: Staat muss die Ausgaben erhöhen oder Zentralbank muss Zinsen senken – oder beides.
    • (auch der offene Brief von Herr Ehnts an die “schwarze Null” aka Wolfgang Scheuble hat dabei nichts bewirkt)
    • “Politik hat in den Panikmodus geschaltet und nicht mehr auf den Sachverstand vertraut”
    • Es ist wie so oft, die Politik hört nicht auf die Wissenschaft – wie lange soll derartige Wahrheits-Ignoranz funktionieren? (hat keine Nachhaltigkeit das wird umso deutlicher, umso stärker der Wind bläst und bei der ersten Böe könnte der auf Schwachsinn gebaute Kahn schon kenntern)
  • ECB hat versucht den Euro zu retten

“Er hält seit 2016 jeden Sommer einen Kurs zur Modern Monetary Theory im Rahmen der Summer School der Universität Maastricht ab.

2019 organisierte er für die Pufendorf-Gesellschaft e. V. die 1. Europäische MMT-Konferenz.

Im Juli 2019 plädierte er für die Einführung eines europäischen Finanzministeriums (Euro Treasury) und eines Rechts auf Arbeit (Job Guarantee).

Ehnts hat zahlreiche Artikel in Fachzeitschriften veröffentlicht, dazu in Tageszeitungen wie taz, FAZ und NZZ und Blogs (u. a. Makroskop und Ökonomenstimme) und war als Sachverständiger beim Finanzausschuss des Bundestags zum Thema TARGET2 eingeladen.

Für Julia Herr (SJ/SPÖ) war Ehnts im Zuge der Europawahlen 2019 an der Ausarbeitung eines Green New Deal maßgeblich beteiligt.”

Links:

https://neuegeldordnung.de/

Tweets:

Larry Summers – “Key Figure in America’s Downfall”

don't kill em but lock him down for 30 years
don’t kill em but extend the “lockdown” for Larry to 30 years

https://en.wikipedia.org/wiki/Lawrence_Summers

Goldman Sachs: U.S. ECONOMY TO SHRINK 24% FROM APRIL to JUNE 2020

https://finance.yahoo.com/news/u-economy-shrink-24-april-155126416.html

The Declaration of Independence – for it’s age of over 250 years – was and still is (!) GREAT AMAZING MASTER PIECE OF CULTURE AND CIVILIZATION.

A beacon of light in the middle ages.

Now it seems the corrupting forces of capitalistic have worked steady on going back in time to the middle ages (PLEASE NOT AGAIN!) (corruption -> collapse -> say hello to the middle ages, rebuild from ash and rubble)

Maybe it is time for a new and better constitution for the US – that has CONCRETE DIRECT TRUTH SCIENCE AND EVIDENCE BASED LAWS for SUSTAINABLE SURVIVAL OF ALL MANKIND.

Since then… nobody is to blame but:

  • the reckless
  • the ignorant
  • the greedy
  • the corrupt
    • everything in the universe depends on a balance
    • when Trump prints $2Trillion new Dollars and hand them out IN SECRECY WITHOUT ANY conditions (to bail out wallstreet (“the cancer”) not mainstreet (the society/worker)) he makes a terrible mistake and just increased INBALANCE and DECREASED STABILITY
      • i expect Trump to step down in the next weeks for mishandling a massive crisis
      • Trump and other’s do not understand – they are not as important and mighty as they think – that without a rise in paychecks – without people working for it – money is worth NOTHING – it becomes paper without a function and purpose.
      • also:
        • Central Banks and
        • law makers
        • NEED TO REALIZE THAT ALTERNATIVES (biodiversity of monetary / cooperation systems = is good = more stable economy & society) ARE GOOD AND SHOULD BE ALLOWED

          • this also means: gov (of course should not over tax anybody) BUT NEEDS TO ALLOW/ACCEPT PAYMENT OF TAXES in many other currencies such as BitCoins
        • ALLOW ALTERNATIVES TO FIAT CURRENCIES OR RISK SOCIETY COLLAPSE
  • have killed the American Dream. (some are still fighting… like Elon Musk)
https://finance.yahoo.com/
https://finance.yahoo.com/ live stream

for me: it is a crisis of ignorance = STUPIDITY (not bliss) and lack of education

If you want to kill a country – kill it’s education system.

Because in a society full of idiots – what do you think will happen?

Shit will happen. A LOT OF SHIT.

USA… sorry to say but… unless USA can do the turnaround and become a beacon of light again – refugees will be the least problem – Nobody will want to move there anymore.

My sincere sympathy with the US Jills and Joes of mainstreet.