Again

I really hate repeating myself, but it is necessary.

Dollars are tokens of value whose quantity is theoretically infinite, especially now that we are using electrons in recording them. The perception that dollars are scarce was created by Congress in order to give the bankers, who have first dibs on what the Treasury distributes, a reason to charge for their use. Setting up the Federal Reserve Bank as a gate keeper in 1919 served Congress’ interest in shifting its responsibility for managing the currency to a middleman. The myth of Congressional innocence was briefly challenged in 2008 when banks had to be rescued with a special distribution and re-instated when Obama was elected because the Democrat was not to be seen as a “savior.”. Of course, Joe Biden was witness to that undermining of the economy and now that we are in the pandemic, he’s pushing for revenge with his $3.5 TRILLION agenda. But, remember it was actually Donald Trump who broke the log jam with the CARES Act and the distribution of dollars to households. We are at a turning point and the life of the bankers is never going to be the same again. If they do not want to be sidelined by bitcoins and Amazon tokens, they have to get busy and distribute dollars more efficiently. Taking nine months to distribute $42 BILLION out of the $500 BILLION they were allocated is just unacceptable. Accepting that dollars are just tokens of value and have no intrinsic worth is very difficult because of the deprivation people have sustained in the name of fiscal prudence. Jimmy Carter preached austerity to counter the flood of currency unleashed by the end of the gold standard. That did not calm the markets. So the banks jacked up interest rates to 20% and brought industry to a halt. So then Congress decided to put on the brakes and ration the distribution of currency by putting a halt to revenue sharing and increasing fees for everything under the umbrella of balanced budgets. Then Greenspan came up with the idea of promoting the conversion of people’s fixed assets in the farms and homes by getting to sell and buy “up” (bigger, more expensive houses with new mortgages and new furnishings) and so the consumer economy was born. Importers and transporters were to be kept humming while manufacture was moved overseas. International trade. It was not to promote colonialism, just to keep things moving around to satisfy the commercial class. Commerce and consumerism, hatched in the secular chambers of commerce with a bit of help from the church. From the perspective of Europe, the Americas have always been about commercial engerprise.