Money supply

Donald Trump was an outsider who boldly stormed the citadel of Washington DC and won. He has promised real change, but his infrastructure plan appears to be just more of the same – privatizing public assets and delivering unearned profits to investors at the expense of the people. He needs to try something new; and for this he could look to Abraham Lincoln, whose bold solution was very similar to one now being considered in Europe: just print the money.
In Donald Trump’s victory speech after the presidential election, he vowed:

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

EnMo economics is an economic theory that suggests the proper role of the state in the economy is to ensure that all its people have Enough of everything they need to live secure, comfortable and happy lives, whilst also ensuring that the private sector is able to supply more in terms of non-essential products and services. This is a very important but quite simple distinction to make — although there would always be some unimportant blurring at the edge where essential meets non-essential.

And it’s whispered that soon if we all call the tune
Then the piper will lead us to reason
And a new day will dawn for those who stand long
And the forests will echo with laughter
— “Stairway to Heaven,” written by Robert Plant and Jimmy Page for Led Zeppelin’s fourth album (untitled) recorded in November, 1970, released in 1971.

Bernie Sanders supporters are flocking to Jill Stein, the presumptive Green Party presidential candidate, with donations to her campaign exploding nearly 1000% after he endorsed Hillary Clinton. Stein salutes Sanders for the progressive populist movement he began and says it is up to her to carry the baton. Can she do it? Critics say her radical policies will not hold up to scrutiny. But supporters say they are just the medicine the economy needs.

Fifteen years after embarking on its largely ineffective quantitative easing program, Japan appears poised to try the form recommended by Ben Bernanke in his notorious “helicopter money” speech in 2002. The Japanese test case could finally resolve a longstanding dispute between monetarists and money reformers over the economic effects of government-issued money.

We suspected it was a scam all along.  The whole money and debt thing.  I mean, how much sense does it make for any government to hand over money creation to a group of private individuals who then lend it back to their own government and earn interest (in other words, do nothing other than collect a kind of rent) on something that, more or less, doesn’t even exist?  Dire Straits got it right about the “Money for nothin’ ” thing.

Brexit could trigger a $500 trillion derivatives meltdown, by forcing the EU to allow insolvent member governments and banks to write down debt. Italy is in financial crisis and is already petitioning for that concession. How to avoid collapse of the massive derivatives house of cards? Alternatives are considered.

In his book The Joy of Tax: How a Fair Tax System Can Create a Better Society, Richard Murphy, UK Tax Justice Network co-founder, offers a radically pioneering approach to tax and fiscal policy.  Murphy is one of the first economists to link tax policy to the 400- year-old reality that nearly all money is created by private banks out of thin air.

After dueling through grueling early fractions and holding the lead turning for home, Kentucky Derby winner Nyquist was overpowered in the stretch of the Preakness Stakes Saturday by his rival Exaggerator. Exaggerator would go on to win by four lengths, as Nyquist faded to third. Nyquist was unable to repeat his performance from two weeks ago when he overwhelmed 19 other three-year-olds and cruised to a 1 1/2 length victory, earning the horse’s owner, J. Paul Reddam, a cool $1.2 million.