2,000 Advanced Placement Economics teachers: how many will engage and respond to ~$1 million benefits per average US household for monetary reform and public banking? How many political ‘leaders’? How many citizens?

There is literally no other topic more valuable for public consideration.

Given the following data, do you agree?

To be fair, let’s assume 10% of the ~2,000 Advanced Placement (AP) Macroeconomics teachers pay attention to the discussion board where interested teachers engage in improving teaching and learning. Since 2009, I’ve shared data on monetary reform and public banking with zero positive responses to date, and perhaps a dozen non-academic and non-professional responses insulting my character, hit-and-run denial, and fear-mongering claims of inflation with failure/refusal to explain or discuss the data and history I provided.

Here’s the latest I offered in response to a question from a colleague:

Carl, I would be curious to hear more about what “monetary reforms and public banking” you envision.  My understanding is that the two drivers of GDP are increases in productivity and population.  US population is no longer growing substantially, and productivity gains are quite modest.  Mr. Trump talks about spurring increases in productivity, but US rates are comparable to other developed nations.  I am really parroting Thomas Piketty, who argues that the most likely outlook for GDP growth in the next few decades is about 1.5%.

What do you see that I am missing?

My response:

Monetary reform is historically the most discussed policy issue in American history after slavery up to the creation of the Fed (foundation of the Greenback Party, the top political plank for many elections, and documented by many of the US’ best and brightest for hundreds of years). I’ll define both terms you ask about and summarize benefits, and please read here for complete documentation, including the game changing sum of ~$1,000,000 in benefits for every US household from these two reforms.

I respectfully request all interested colleagues to consider this claim of a million dollars in benefits per US household and report your conclusions. To date, those of us working for these reforms have zero refutations, and compare our condition as Emperor’s New Clothes obvious to anyone caring to look. All we receive is denial, ad hominem attack, and as Simon Johnson (former Chief Economist for the IMF) reports: refusal of the big banks to debate us.

Monetary reform is the creation of debt-free money by government for the direct payment of public goods and services. Creating money as a positive number is an obvious move from our existing Robber Baron-era system of only creating debt owed to privately-owned banks (a negative number) as what we use for money. Our Orwellian “non-monetary supply” of adding negative numbers forever causes today’s tragic-comic increasing and unpayable total debt. You learned these mechanics of positive and negative numbers in middle school, and already have the education and life experience to conclude with Emperor’s New Clothes absolute certainty that accelerating total debt is the opposite of having money.

The top 3 game-changing benefits of monetary reform:

  1. We pay the national debt in proportion to removing private banks’ ability to create what we use for money as debt in order to prevent inflation. We retire national debt forever.
  2. We fully fund infrastructure that returns more economic output than investment cost for triple upgrades: the best infrastructure we can imagine, up to full-employment, and lower overall costs.
  3. We stop the ongoing Robber Barons who McKinsey’s Chief Economist documents having ~$30 TRILLION in tax havens, and the Fed finding the US top seven banks creating shell companies to hide $10 trillion. This amount is about 30 times needed to end all global poverty, which has killed more people since 1995 than all wars and violence in all human history.

Public banking creates at-cost and in-house credit to pay for public goods and services without the expense and for-profit interest of selling debt-securities. North Dakota has a public bank for at-cost credit that results in it being the only state with annual increasing surpluses rather than deficits.

Top 3 game-changing benefits of public banking:

  1. a state-owned bank could abundantly fund all state programs and eliminate all taxes with just a 5% mortgage and credit card.
  2. a state-owned bank could create in-house and at-cost credit to fund infrastructure. This cuts nominal costs in half because, as you know, selling debt securities typically doubles the cost. For example, where I live we’re still dismantling the old Bay Bridge in NoCal from the upgrade that cost $6 billion, but the debt-service costs will add another $6 billion when it’s all paid.
  3. CAFRs (Comprehensive Annual Financial Reports) stash “rainy day” funds no longer required with a credit line from a public bank. In addition, the so-called “retirement funds” currently deliver net returns of just a few percent on good years, and negative returns on bad years (herehere). California’s ~14,000 various government entities’ CAFRs have a sampled-data total estimate of $8 trillion in surplus taxpayer assets ($650,000 non-disclosed assets per household, among California’s ~12.5 million households).

$1,000,000 of benefits per US household:

  • California’s CAFR data of ~$650,000 of assets per household is evidence of huge cash assets of similar magnitude in every state.
  • Paying the US national debt of ~$18 trillion saves ~$180,000 per household.
  • Ending state taxes in California to pay a budget of ~$170 billion saves each household ~$15,000, with similar savings in every state.
  • ~$30,000 per household savings annually: the American public would no longer pay over $400 billion every year for national debt interest payments (because almost 30% of the debt is intra-governmental transfers, this is a savings of ~$300 billion/year). If lending is run at a non-profit rate or at nominal interest returned to the American public (for infrastructure, schools, fire and police protection, etc.) rather than profiting the banks, the savings to the US public is conservatively $2 trillion (1). If the US Federal government increased the money supply by 3% a year to keep up with population increase and economic growth, we could spend an additional $500 billion yearly into public programs, or refund it as a public dividend (2). This savings would allow us to simplify or eliminate the income tax (3). The estimated savings of eliminating the income tax with all its complexity, loopholes, and evasion is $250 billion/year (4). The total benefits for monetary reform are conservatively over three trillion dollars every year to the American public. Three trillion is $3,000,000,000,000. This saves the ~100 million US households an average of $30,000 every year. Another way to calculate the savings is to figure those amounts per $50,000 annual household income (for example, if your household earns $100,000/year, you save ~$60,000 every year with these reforms). This savings represents a 60% raise for every US household’s income.
  • Related, if the ~$30 trillion hidden in tax havens by the .01% have $10-$15 trillion from Americans, and we count the Federal Reserve report that the US top seven banks have over $10 trillion stored, then the average US household could clawback ~$200,000 to ~$250,000.

Famous Americans already on record for these reforms:

Carl Herman

National Board Certified Teacher

National Board Certified Teacher Coach

Carl_Herman@post.harvard.edu

Most important economic data and context

Among ~100 areas of game-changing objective factual data, CAFR disclosure (Comprehensive Annual Financial Reports), monetary reform, and public banking at ~$1 million of near-instant benefits per average US household make this topic literally the most valuable for public attention. The converse option is to surrender tens of trillions to these asset-holes, to kiss our assets goodbye to escalating rogue state empire.

Below is the documentation. Here is a 2014 interview by Guy Evans that walks anyone through the facts in 28 minutes:

Why does US national debt and total debt only and always increase?

Demonocracy’s sharp 2 minutes of the tragic-comic mathematical certainty for a society that creates what is used for money as debt; just as certain as adding negative numbers forever causes only and always increasing aggregate debt until a system collapse:

We the People endure endless criminal actions under a .01% rogue state empire, with rhetoric by both political parties’ “leaderships” most accurately defined by bestselling Yale Professor emeritus Harry Frankfurt as bullshit: the inversion of objective factual reality.

This can also be characterized as corporate media “covering” a “Big Lie” .01% crime with “fake news.” The great news, as usual, is that we have technical solutions to end all real problems. In this case, Benjamin Franklin is one of hundreds of America’s best and brightest who clearly document that monetary reform with public banking allows government to operate without taxes with abundant funding.

Most Americans are unaware that what they’re told is literally Orwellian inversion of the objective data. Given opportunity, here and now, to allow Dr. Franklin to walk you through this breakthrough available to We the People, will you invest the 10 minutes to learn?

One of ~100 game-changing areas that We the People must recognize is that our .01% wanna-be masters loot us by the trillions every year, with the core of this criminal fraud by creating what we use for money as debt owed to them. The fraud’s core is to lie to us by calling debt/credit they create out of nothing and issue to us as so-called “loans” as money, when debt is the Orwellian opposite of money.

This financial crime is similar to:

Obvious solutions other than endure debt slavery and kissing our assets goodbye:

  • monetary reform
  • public banking
  • .01% arrests for crimes annually killing millions, harming billions, and looting trillions

Data, discussion of ~$1,000,000 benefits per average US household with monetary reform, public banking:

The top three benefits each of monetary reform and public banking total ~$1,000,000 for the average American household, and would be received nearly instantly. Fed Chair Janet Yellen publicly acknowledges monetary reform as described below, but continues a history of criminal fraud in her lawful fiduciary responsibility to truthfully provide what you’re about to read. The data below include evidence of a .01% oligarchy criminally looting tens of trillions of our dollars.

Monetary reform is the creation of debt-free money by government for the direct payment of public goods and services. Creating money as a positive number is an obvious move from our existing Robber Baron-era system of only creating debt owed to privately-owned banks (a negative number) as what we use for money. Our Orwellian “non-monetary supply” of adding negative numbers forever causes today’s tragic-comic increasing and unpayable total debt. You learned these mechanics of positive and negative numbers in middle school, and already have the education and life experience to conclude with Emperor’s New Clothes absolute certainty that accelerating total debt is the opposite of having money. As a National Board Certified and Advanced Placement Macroeconomics teacher, I affirm this is also exactly what is taught to all economics students.

The public benefits of reversing this creature of Robber Barons are game-changing and near-instant. We the People must demand these, as .01% oligarchs have no safe way to do so without admission of literal criminal fraud by claiming that debt is its opposite of money.

The top 3 game-changing benefits of monetary reform:

  1. We pay the national debt in proportion to removing private banks’ ability to create what we use for money as debt in order to prevent inflation. We retire national debt forever.
  2. We fully fund infrastructure that returns more economic output than investment cost for triple upgrades: the best infrastructure we can imagine, up to full-employment, and lower overall costs.
  3. We stop the ongoing Robber Barons who McKinsey’s Chief Economist documents having ~$30 TRILLION in tax havens, and the Fed finding the US top seven banks creating shell companies to hide $10 trillion. This amount is about 30 times needed to end all global poverty, which has killed more people since 1995 than all wars and violence in all human history.

Public banking creates at-cost and in-house credit to pay for public goods and services without the expense and for-profit interest of selling debt-securities. North Dakota has a public bank for at-cost credit that results in it being the only state with annual increasing surpluses rather than deficits.

Top 3 game-changing benefits of public banking:

  1. a state-owned bank could abundantly fund all state programs and eliminate all taxes with just a 5% mortgage and credit card.
  2. a state-owned bank could create in-house and at-cost credit to fund infrastructure. This cuts nominal costs in half because, as you know, selling debt securities typically doubles the cost. For example, where I live we’re still dismantling the old Bay Bridge in NoCal from the upgrade that cost $6 billion, but the debt-service costs will add another $6 billion when it’s all paid.
  3. CAFRs (Comprehensive Annual Financial Reports) stash “rainy day” funds no longer required with a credit line from a public bank. In addition, the so-called “retirement funds” currently deliver net returns of just a few percent on good years, and negative returns on bad years (herehere). California’s ~14,000 various government entities’ CAFRs have a sampled-data total estimate of $8 trillion in surplus taxpayer assets ($650,000 non-disclosed assets per household, among California’s ~12.5 million households).

$1,000,000 of benefits per US household:

  • California’s CAFR data of ~$650,000 of assets per household is evidence of huge cash assets of similar magnitude in every state.
  • Paying the US national debt of ~$18 trillion saves ~$180,000 per household.
  • Ending state taxes in California to pay a budget of ~$170 billion saves each household ~$15,000, with similar savings in every state.
  • ~$30,000 per household savings annually: the American public would no longer pay over $400 billion every year for national debt interest payments (because almost 30% of the debt is intra-governmental transfers, this is a savings of ~$300 billion/year). If lending is run at a non-profit rate or at nominal interest returned to the American public (for infrastructure, schools, fire and police protection, etc.) rather than profiting the banks, the savings to the US public is conservatively $2 trillion (1). If the US Federal government increased the money supply by 3% a year to keep up with population increase and economic growth, we could spend an additional $500 billion yearly into public programs, or refund it as a public dividend (2). This savings would allow us to simplify or eliminate the income tax (3). The estimated savings of eliminating the income tax with all its complexity, loopholes, and evasion is $250 billion/year (4). The total benefits for monetary reform are conservatively over three trillion dollars every year to the American public. Three trillion is $3,000,000,000,000. This saves the ~100 million US households an average of $30,000 every year. Another way to calculate the savings is to figure those amounts per $50,000 annual household income (for example, if your household earns $100,000/year, you save ~$60,000 every year with these reforms). This savings represents a 60% raise for every US household’s income.
  • Related, if the ~$30 trillion hidden in tax havens by the .01% have $10-$15 trillion from Americans, and we count the Federal Reserve report that the US top seven banks have over $10 trillion stored, then the average US household could clawback ~$200,000 to ~$250,000.

Famous Americans already on record for these reforms:

Please understand that I represent likely hundreds of thousands of professionals making factual claims with objective evidence anyone with a high school-level of education can verify.

The Emperor’s New Clothes obvious pathway out of these mechanics of our “debt system” is to start creating debt-free money (a positive number) for the direct payment of public goods and services, and create public credit for at-cost loans (a negative number). I have three academic papers to walk any reader through these facts; an assignment for high school economics students, one for Advanced Placement Macroeconomics students, and a paper for the Claremont Colleges’ recent academic conference:

Teaching critical thinking to high school students: Economics research/presentation

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye

Seizing an alternative: Bankster looting: fundamental fraud that “debt” is “money”

Let’s examine just some of the facts of the current US economy that demonstrates its criminal status:

For Americans still zombiefied to “believe” in America, please embrace the reality that 40% of US children live at least one year of their lives in under-measured poverty, while oligarchs most responsible literally laugh in grandiose glee of the poverty they euphemise as “income inequality.” Please absorb this 1-minute reality check:

John Perkins’ 2-minutes of context as an illustration of what the US rogue state executes:

More game-changing economic data that confirm what we receive for economic leadership is literal criminal fraud:

15-minute video of obvious solutions: Mark Anielski and Ellen Brown’s powerful 15-minute response to an interview at the Seizing an Alternative conference (and here, with videos here) with former World Bank economist Herman Daly and co-author John B. Cobb of For the Common Good (video should start at 1:04:43):

81-minute interview with Byron Dale and Greg Soderberg of WealthMoney.org (the three of us have combined over 90 years of research on this topic):

Endnotes:

1) Of $60 trillion total debt, a conservative current interest cost of 5% is $3 trillion every year. Two trillion dollars of savings if the profits are transferred to the American public rather than to the banking industry is probably low. St. Louis Federal Reserve Bank: https://research.stlouisfed.org/fred2/series/TCMDO

2) The US GDP is ~$17 trillion. Three percent growth is moderately conservative.

3) Of the US Federal government’s ~$4 trillion annual budget, about $1.7 trillion is received from income tax.

4) Tax Foundation. Hodge, S, Moody, J, Warcholik, W. The Rising Cost of Complying with the Federal Income Tax. Jan. 10, 2006: http://www.taxfoundation.org/research/show/1281.html

Demand .01% arrests for Orwellian lies and crimes

Obviously, when the truth is rogue state empire annually killing millions, harming billions, and looting trillions, the foremost response for justice is public call for .01% arrests.

Obviously.

The categories of crime include:

In just 90 seconds, former US Marine Ken O’Keefe powerfully states how you may choose to voice “very obvious solutions”: arrest the criminal leaders (video starts at 20:51, then finishes this episode of Cross Talk):

**

Note: I make all factual assertions as a National Board Certified Teacher of US Government, Economics, and History, with all economics factual claims receiving zero refutation since I began writing in 2008 among Advanced Placement Macroeconomics teachers on our discussion board, public audiences of these articles, and international conferences (and here). I invite readers to empower their civic voices with the strongest comprehensive facts most important to building a brighter future. I challenge professionals, academics, and citizens to add their voices for the benefit of all Earth’s inhabitants.

**

Carl Herman is a National Board Certified Teacher of US Government, Economics, and History; also credentialed in Mathematics. He worked with both US political parties over 18 years and two UN Summits with the citizen’s lobby, RESULTS, for US domestic and foreign policy to end poverty. He can be reached at Carl_Herman@post.harvard.edu

Note: Examiner.com has blocked public access to my articles on their site (and from other whistleblowers), so some links in my previous work are blocked. If you’d like to search for those articles other sites may have republished, use words from the article title within the blocked link. Or, go to http://archive.org/web/, paste the expired link into the box, click “Browse history,” then click onto the screenshots of that page for each time it was screen-shot and uploaded to webarchive. I’ll update as “hobby time” allows; including my earliest work from 2009 to 2011 (blocked author pages: herehere).

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  • Zartan

    Carl, you`re a good Teacher. I have been waiting “Decades” for my old math Teachers to come out and condemn US government employmnet reports! We live in a Bizzarre world where people accept “everything” they are told by government and are afaid to question.

    Economics is a subject very few people -even Teachers- really understand. I still laugh when people use the Weimar, Germany Example of Inflation without Realizing the Harsh Treaties and BANK/ Allied Government Collusion that issued Downgrades to Ruin Germany`s Currency. These people think if Minimum Wage is Increased we will turn into 1920`s Germany. Who taught them this? These people want to give everything to government and get nothing in return. Perfect Slaves. Who can live with such people?

    The US is a BIG SLAVE PRISON CAMP, where the slaves are sold as commodities, to the lowest bidder. Nobody should even dare question, because with US Laws: +100,000, 75,000 pages of tax code; and Endless, Statute, Code and Ordinance … Millions of Laws … All to keep the Slaves, Slaves, well, it is obvious! You have to have a license and registration to Fish in this godforsaken land. England was Better!

    Americans will only fight for their masters. They do not know what “GOOD”- is- and Call GOOD “EVIL”. This is a mess that Only GOD can Sort out, and from biblical examples, it will not end well.