Pulitzer-winner Mark Fiore’s two-minute animation shows what is self-evident: anything done within a system that creates and uses debt as a so-called “monetary system” can only produce increasing aggregate debt.
So-called “austerity” is a symptom of a government that surrendered its power to create debt-free money for the direct payment of public goods and services. The really great news is that this problem literally only exists on paper.
This basic test of civic economic competence will be passed when the 99% command three simple areas of facts for monetary and credit reform:
- The US does not have a money supply; we have its Orwellian opposite as a debt supply. This is because the US leading banks won legal right through passage of the 1913 Federal Reserve Act to have private banks and the Fed create debt for what we use as money, and then charge the 99% for its use.
- The policy choice of a debt supply compounded with interest causes ever-increasing aggregate debt that can never be repaid. It can’t be repaid because this is what we use for money. The US national debt now pushing $16 trillion has a gross annual interest payment over $400 billion a year; ~$4,000 per US family of $50,000 annual income (if your household earns $100,000, then your gross annual interest payment is ~$8,000 every year).
- Monetary reform creates debt-free money that extinguishes the debt (detailshere), and allows government to become employer of last resort for infrastructure investment (hard and soft). This creates full-employment, optimal infrastructure, and falling prices because infrastructure historically creates more value to the economy than cost. Credit reform allows for public loans (interest directly pays for public goods/services) as another monetary tool for stable money supply (credit reform details here).
The contrast of the benefits of a monetary system from debt-slavery to a “1%” debt-creator class reveals criminal economic fraud costing the 99% literally trillions in benefits every year. As in any historical oligarchy, the 1% must also control government “leadership” and media in order to have insulating policies and propaganda.
Occupy is about the 99% recognizing the fundamental criminal economic fraud in the lies that debt is money, and that debt rather than money is “good” for the public. Occupy also centers on public recognition that US wars are criminal Wars of Aggression: