Black college students, parents and indeed, the 99% need to understand the enormity of the Obama Administrations LIES. Black students and parents need only use the following indisputable and immutable fact as the basis for calling him out: America is MONETARILY SOVEREIGN : en.wikipedia.org/wiki/Monetary_sovereignty THUS TAXING AND BORROWING AND AUSTERITY (DEFICIT REDUCTION) ARE NOT NECESSARY though for POLITICAL REASONS, a Monetarily Sovereign nation may borrow and levy taxes and enforce austerity. Obamas LIE that were out of money now is a cynical, corrupt and contemptible strategy to impoverish those slipping out of the middle class for no fault of their own. Obama knows if you deny education to those at the economic margins, it hastens their fall into the abyss of poverty. He also knows that he doesnt need to increase taxes or borrow to fund public education in America. He willingly supports the banksters greed and fraud, denying students access to bankruptcy relief, failing to regulate usury laws, and timidly monitoring gangster collection practices. When in fact all public education could be provided debt free by the Treasury and Federal Reserve in the same manner that these two government organization funded the $29 trillion bail out for the financial sector: 1. neweconomicperspectives.org/2011/12/bernankes-29-trillion-dollar-fog-of.html 2. huffingtonpost/l-randall-wray/bernankes-obfuscation-con_b_1147291.html They simply created that sum by using their computers to mark up the checking accounts the banks have at the Fed. Heres what Bernanke told America on March 9, 2009; PELLEY Is that tax money that the Fed is spending? BERNANKE Its not tax money. The banks have-- accounts with the Fed, much the same way that you have an account in a commercial bank. So, to lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed. So its much more akin to printing money than it is to borrowing. PELLEY Youve been printing money? BERNANKE Well, effectively. And we need to do that, because our economy is very weak and inflation is very low. when the economy begins to recover, that will be the time that we need to unwind those programs, raise interest rates, reduce the money supply, and make sure that we have a recovery that does not involve inflation. Today the economy has not recovered since we have unemployment ... real unemployment ... at 23% shadowstats and official Fed defined inflation well below 2%, while consumer inflation is closer to 9% shadowstats, wages are stagnant to declining in real terms, median family incomes have not increased in thirty years. Wheres the bailout for MAIN ST.??? All of the student loan debt held by Sally Mae and other commercial lenders could be wiped off the books with a mouse click and would not cost the government one dime. en.wikipedia.org/wiki/Sallie_Mae All of that debt now guaranteed by the Federal Government which also receives repayments was created ex nihilo and should be eliminated by fiat since the debt payments collected by the government are not recycled. They are destroyed because the government can simply issue more of its fiat currency to fund anything it needs. neweconomicperspectives.org/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html I challenge ANYONE to deny the following fact: the U.S. is Monetarily Sovereign and, therefore, never needs income to fund education at all levels including expenditures which serve public purposes.
Posted on: Sun, 23 Nov 2014 18:31:25 +0000
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