2-minute Pulitzer-winner video: ‘Austerity’ a debt/death spiral for fools

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:

  1. 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.
  2. 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).
  3. 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:

Why Occupy? A government/economics teacher explains


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  • You paint debt as an addiction, but an addiction of the type that is psychological, which is, thankfully, easier to shake than the addiction to oil, which is more than a psychological dependence.

  • gozounlimited

    A new development ….. JPMorgan Shareholders File Suit Against Dimon in NY Federal Court

    . The fact that Dimon is trying to classify this instance as an “out-of-the-blue mistake” shows that when bankers misappropriate funds in a scheme to commit fraud, the public should pay attention.

    read more: http://www.activistpost.com/2012/05/jpmorgan-shareholders-file-suit-against.html
    A new development at Fukushima …..

    (HigginsBlog) – The latest TEPCO handout reveals the release of radioactive iodine 131, and hence a nuclear meltdown, at the Fukushima nuclear reactor 4 spent fuel pool.

    TEPCO just slipped this little tidbit of data into their latest handout.
    Iodine Radiation At Fukushima Reactor 4 Spent Fuel PoolIodine Radiation At Fukushima Reactor 4 Spent Fuel Pool

    That chart shows a highly level of radioactive iodine 131 was released from the reactor 4 spent fuel pool, which means there was a nuclear meltdown in the pool.

    Last year TEPCO downplayed the detection of cesium in the fuel pool by claiming the cesium detected in reactor 4 was only 1/100th of the mount detected in reactor 1, 2 and 3 hence concluding the detected cesium was likely ‘blown’ into reactor 4 from the other reactors.

    However, TEPCO hid the fact they detected a massive release of iodine radiation – which is a clear sign of a nuclear meltdown – in reactor 4 spent fuel pools.

    Iodine 131 was measured from SFP4

    Last year, 4/12/2011, 2.2E+8 Bq/m3 of Iodine 131 was measured from the water of SFP4 to suggest the spent fuel had recriticality after 311.

    Cesium 134/137 were also measured, but Tepco states it’s about 1/100 of the amount in reactor1~3, they are likely to be blown from them.

    However, Tepco did not show the comparison of the amount of Iodine 131 measured in SFP4 and reactor1~3.

    Source:The Fukushima Diary

    For those who are not familiar with the significance of this or the dangers of Reactor 4, the following article is a must read.

    UN Ambassador: “No Exaggeration – Fate Of The World Depends On Fukushima Reactor 4”
    Ambassador Murata writes to UN Secretary General: ‘It is no exaggeration to say that the fate of Japan and the whole world depends on No. 4 reactor’

    apanese Ambassador Murata is joining in the growing chorus which include US Senators who are warning the he problem at Fukushima nuclear reactor 4 is the single greatest short-term threat to humanity and has the potential to destroy our world and civilization as we know it.

    The Ambassador puts it very bluntly saying the warnings about reactor 4′s threat to end human civilization are no exaggeration.

    He is joining forces with human rights groups from around the globe in calling for the UN to step in and end the crisis in Fukushima that TEPCO is planning on taking decades to resolve after repeated warnings that even a minor earthquake could cause the spend fuel pool to collapse which would result in a radiation release so massive it could end life on earth.

    Read the rest …http://blog.alexanderhiggins.com/2012/05/02/ambassador-exaggeration-fate-world-depends-fukushima-reactor-4-128701/

    Source: Higgins Blog

    • gozounlimited

      Get Ready: We’re About To Have Another 2008-Style Crisis
      (Another QE on the way …. that old moral hazard (austerity/inflation) coming our way again … Who will last longer, the victims or Jamie Dimon?)

      Submitted by Chris Martenson

      Well, my hat is off to the global central planners for averting the next stage of the unfolding financial crisis for as long as they have. I guess there’s some solace in having had a nice break between the events of 2008/09 and today, which afforded us all the opportunity to attend to our various preparations and enjoy our lives.

      Alas, all good things come to an end, and a crisis rooted in ‘too much debt’ with a nice undercurrent of ‘persistently high and rising energy costs’ was never going to be solved by providing cheap liquidity to the largest and most reckless financial institutions. And it has not.

      read more: http://dprogram.net/2012/05/16/chris-martenson-we-are-about-to-have-another-2008-style-crisis/#more-109222