‘Financial’/‘monetary’/‘derivative’ house-of-cards collapse? Remember: Superior mechanics already proven by Ben Franklin with monetary reform and public banking, backed by Thomas Edison, 86% of Economics professors

In 2002, mega-investor Warren Buffett wrote that derivatives were “financial weapons of mass destruction.” At that time, their total “notional” value (the value of the underlying assets from which the “derivatives” were “derived”) was estimated at $56 trillionInvestopedia reported in May 2022 that the derivatives bubble had reached an estimated $600 trillion according to the Bank for International Settlements (BIS), and that the total is often estimated at over $1 quadrillion.  No one knows for sure, because most of the trades are done privately.   

~ Ellen Brown, The Looming Quadrillion Dollar Derivatives Tsunami, 3/12/23


I’m inspired by my friend and colleague Ellen’s article, along with this excellent discussion among leading economic rebels, to comment that any “paper collapse” of gambling/fraud is good, and solutions are ready to implement now.


What the derivative bubble Ellen explains and documents means relative to the Fed promising today to fully fund all Silicon Valley Bank and Signature Bank depositors (insured AND uninsured/insolvent), is that a run on hard assets could pop the derivative bubble currently gambling with so-called “securities” valued 10-20 times deliverable assets. If that happens, then we all see the house of cards come down as nobody can pay/play this “game of debt” based on our criminally-fraudulent so-called “monetary” system of exponential debt “growth.”


Following is my best essay to explain, document, and prove the superior mechanics of public banking and monetary reform ready to implement. Remember: no harm is done to real resources (natural and human) with public discovery (finally and decisively) of the criminally-fraudulent, Orwellian-inverted, tragic-comic pyramid scheme to pretend that forever-accelerating debt should be used as “money.”


In 2018, the Assistant Superintendent of my NorCal public school district’s Business Services, along with all Board Members, were informed of this data with my offer to brief them of these superior mechanics compared to their ongoing efforts to beg homeowners to pay higher taxes. The Assistant Superintendent agreed to meet, took months to schedule, then cancelled because of “Covid” “mandates” without interest to pursue. 


One Board Member responded to my invitation to brief them by asking me to attend a public school board meeting to make a 2-minute maximum comment that would receive no response. I asked if the data I pointed to were true, wouldn’t she want the Board briefed? She refused to answer. I declined her counter-offer.


In my capacity as Chair of a Professional Learning Committee at my high school, I briefed about a dozen teachers over ~4 years, with all teachers withdrawing their names from my committee after I challenged the district’s “health” “orders.” 


Therefore, Patriots, I offer the following essay with every confidence its basis in published research is absolutely factually accurate, and with none of the ~2,000 AP Macroeconomics teachers on our Discussion Board offering any response to my requests since ~2009 to find any factual claim either in error or non-comprehensive. I also cannot serve in any capacity beyond being a messenger; all efforts to affect policy have been insufficient to date, with my 46-year experience in The Great Awakening demonstrating ~2% of humans can embrace paradigm-destroying messages. 


I end the essay with Ocean’s Where Feet May Fail for those Who can hear We’re in Bigger Hands, and this is a test of where We Stand in a Spiritual war (war means confusion among the etymologies).


Open letter to school boards, teachers’ unions, families: Funding crisis for all public goods & services already solved by Ben Franklin with monetary reform and public banking, backed by Thomas Edison, 86% of Economics professors


In fields of specialized knowledge, we aim to render an account that is plain and simple, yet does no violence to the difficulty of the subject, so that the uninformed reader can understand us while the expert cannot fault us. We try to keep in mind a saying attributed to Einstein—that everything must be made as simple as possible, but not one bit simpler.  ~ A letter from the publisher, Time Magazine, 1962

American families could have ~$1,000,000 per household in benefits from monetary reform and public banking. This is literally the most valuable information you can learn. 

Colleagues and I presenting this data have written and presented at professional international economic conferences and have zero challenges to this information, such as this 2015 paper published by The Claremont Colleges for their ~2,000 person international economics conference, and this 2012 paper

I also assert that I've worked with ~2,000 Advanced Placement Economics teachers through their discussion board since 2009, and no colleague has ever challenged the factual accuracy of what I am about to explain and document. 

These two reforms are easy to learn: 
  • Monetary reform simply means being able to create money as a positive number to directly pay for public goods and services. What we have only creates "money" as its Orwellian-opposite, debt, which explains how and why total debt increases exponentially. Creating money as a positive number has triple and game-changing benefits: upgraded infrastructureemployment, and falling prices to the extent infrastructure investment returns more economic output than cost (this usually happens).
  • Public banking is creating in-house and at-cost credit instead of selling debt securities to the public. In-house and at-cost credit reduces total nominal debt costs by ~50% compared with paying Wall Street "debt experts" and interest. The one state with a public bank is North Dakota: also the one and only state with increasing budget surpluses from their paying half of what all other 49 states pay for debt.
But you didn't know about these reforms that would transfer trillions in profits back to the public rather than .01% Wall Street ongoing Robber Barons. It's important to consider what American sheeple receive for "news" and who American political and economic "leaders" work for:

Here’s a big part of this condition: just six US corporations control ~90% of what Americans get for newsMIT’s Simon Johnson (and former Chief Economist of the International Monetary Fund) describes our big banks being led by gambling oligarchs who have captured government as in “banana republics” (his words). He concludes fraud is the heart of Wall Street. His best-selling book, 13 Bankers: The Wall Street takeover and the next financial meltdown, was discussed with over 30 Emmy Award-winning journalist Bill Moyers to explain the US banking system, loss of trillions of American taxpayer dollars to oligarchs’ manipulation as a matter of definitive fact, the looting of America being protected by partners with political muscle, and rational consideration of the facts proving massive financial crimes:

SIMON JOHNSON: The American democracy was not given to us on a platter. It is not ours for all time, irrespective of our efforts. Either people organize and they find political leadership to take this on, or we are going to be in big trouble, okay?… That’s absolutely the heart of the problem. I would also say and tell you, and emphasize, these people will not come out and debate with us. The heads of these companies or their representatives, they will not come out. They’re afraid. They don’t have the substance. They don’t have the arguments. We have the evidence. They have the lobbyists. And that’s all they have.

BILL MOYERS: They’ve got the power, the muscle, the money.

SIMON JOHNSON: They have money.

BILL MOYERS: You just have the arguments. You just have the facts. On your side.

SIMON JOHNSON: Absolutely. That’s exactly what it comes down to.

Two sections: videos and academic documentation of data

Different people learn in different ways. If you want just one video to watch, I recommend my 22-minute interview in the second video. If you want just one academic paper to read, I recommend my 2015 paper to The Claremont Colleges.

Crystal-clear videos to explain, document, and prove ~$1,000,000 per average US household in benefits from monetary reform, public banking

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:
My 2012 22-minute interview by Aaron Dykes on the most-viewed alternative news show at that time to explain specifically the public data where our government documents withholding trillions alleged for "pension funds" that deliver net income from negative returns to a maximum of 1%, and that taxpayers fund 95% of government retirement costs rather than so-called pension fund net incomes (documentation herehere):


My 2017 57-minute detailed interview and data presentation with Dr. Jim Fetzer:

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.” A sobering 1-minute reality check:
John Perkins’ 2-minutes of context as an illustration of what the US rogue state executes:

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).

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. Robber Barons are within our own Department of Offense Defense, who admit they "lost" $21 trillion of taxpayer money (~$200,000 per average US household).
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. And again: Robber Barons within our own Department of Offense Defense admit they "lost" $21 trillion of taxpayer money (~$200,000 per average US household).
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 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 a Claremont Colleges’ recent academic conference:
Let’s examine just some of the facts of the current US economy that demonstrate need for reforms:
More game-changing economic data:
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

**

I make all factual assertions as a National Board Certified Teacher of US Government, Economics, and History (also credentialed in Mathematics), with all economic 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 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: My work from 2011 to October 2017 is on Washington’s Blog, which the owner closed from Internet censorship in 2019, and here since. Work back to 2009 is censored by Examiner.com (blocked author pages: here, here). This means that some links in essays are inactive. If you’d like to see those articles, go to http://archive.org/web/, paste the expired link into the search box, click “Browse history,” then click onto the screenshots of that page for each time it was screen-shot and uploaded to webarchive. 


Comments

  1. What's wrong with banking and finance ?
    There are 3 essential points everyone should realize:
    (1) The Federal Reserve and by extension the USD are Ponzi Schemes. They do not represent real money.
    This is because the USD is a debt based currency that requires ever more debt to sustain itself until interest payments on the debt
    gobble up all spending.

    (2) Fractional Reserve Lending is the basis of all banking in the modern age. This is legalized counterfeiting and no different than a criminal operation. All banks are in fact criminal enterprises because they lend out money they do not possess.
    This is the criminal nature of our banking industry today to say nothing about the usury of charging 20% interest rates on credit card debt.

    (3) The world's central banks (Federal Reserve) are private institutions owned by private individuals which gives these criminals access
    to infinite sums of currency (Rothschilds are Trillionaires).
    Trillionaires do exist in our world today. And they own most of the world's economy.
    These Trillionaires are very careful to keep this knowledge out of the public domain and so we see the Forbes 400, Fortune list of billionaires
    always excludes mention of these people who control the issuance of currency.
    Why would you want to be worth $100 Billion in USD when you can issue and digitally print to yourself trillions of dollars through your
    criminal ownership of the Federal Reserve with no supervision nor oversight ?
    Remember the Federal Reserve has NEVER been audited in it's nearly 110 year history (demonic birth 1913).

    The world is run by Trillionaire International Bankers who have thousands of news-reading slaves (Bloomberg, CNBC et al) and
    fake financial theorists aka economists, and yellow journalists lying to all of us with propaganda that we live in a free market economy based
    on capitalism and meritocracy. Nothing could be further from the truth.
    We live in a organized crime syndicate run by multi - generational criminally insane psychopathic
    banking families (Kuhns, Loebs, Warburg, Rothschilds et al) who have infinite wealth and
    it is by this wealth that they have corrupted
    every media outlet, every corporation and every industry with their demonic political agenda.

    Everything is rigged, everything is lies, everything is fake, everything is scripted.

    ReplyDelete
    Replies
    1. Sharp, Anon (Robert?)! Yes, this is literally the most valuable topic to see ;)

      Delete
    2. Yes, hi Carl.
      Two more points:
      (1) The derivative position of the largest banks is in the area of
      Goldman Sacs $55 Trillion
      JPMorganChase $50 Trillion
      CitiGroup $46 Trillion
      BoA $ 22 Trillion

      And yet nobody is talking about this.

      (2) The vast majority of bank runs and deposit withdrawals are coming from the top three banks:
      JPMorganChase, Bank of America, Wells Fargo AND not the regional smaller sized banks.
      The largest banks are NOT seeing inflows. We are being lied to by everyone.
      Take a look at the Fed's H.8 weekly reports.
      Here is the real data that others will not show you.
      Deposit Withdrawals from April 2022 to April 2023:
      JPMorganChase... - $184 Billion
      BoA...…………...…..- $162 Billion
      Wells Fargo..............…- $119 Billion
      Deposit Withdrawals at remaining 4000 other Banks: $5528T-$5318T=$210B

      See data series here:
      https://fred.stlouisfed.org/series/DPSLCBM027SBOG#0
      https://fred.stlouisfed.org/series/DPSSCBW027NBOG

      The bank runs at JP, BoA and Wells Fargo accounts for approx. 72% of the total
      decline in deposits at the 25 largest banks as shown by the H.8 Fed report.
      JPMorganChase is going through a bank run !
      Jamie Dimon, Bloomberg , CNBC and even the FDIC are lying to you!


      Robert


      P.S. I always enjoy your presentations on Need to Know.
      You are by far the most informative and enjoyable speaker.
      Thank you.
      Be well.

      Delete
    3. I see "go-time" for breakthrough this week or next, Brother, as we've seen part of the "house of cards" already fall. Thank you for your integrity, Bro; new vistas are on the immediate horizon ;)

      Delete
    4. Really? You write like one of them.

      Delete
    5. Excellent documentation!

      Delete
    6. If the spraying doesn't stop soon, it will eventually kill me and many who live around me. The AF has been manipulating the weather since the 60's or earlier. It disgusts me the US Military has been poisoning and killing many of us. They are murderous and must be destroyed.

      Delete
    7. The way I see it, these nutters want to MURDER many. I urge NO ONE to fight or kill innocents for these disgusting, foul murderers who deliberately start wars under false circumstances. They are liars and must not be trusted. EVER!

      Delete
    8. Yes, the nutters do want to murder innocents. They are crazy, insane and must be eliminated. Godspeed to all.

      Delete
  2. Whether it's silver, gold or cookies all designated money is only effective if it's fair for everyone using it. Power, greed is always the problem. If worldly peeps cannot learn to share, any monetary SYSTEM is doomed to fail. Every day...Every way...MG 🕊

    ReplyDelete
    Replies
    1. Yep, this world was designed to be sick and dirty. Criminals run amok and Alexa is a spy. This is no way to live. Thanks Carl.

      Delete
  3. I see: Let's fuck with the common, disabled and dumb peeps. I don't care about color or CULTURE. "Let's just fucking kill them all!" That's how these crazy, murderous THINGS think. They are not humans. They're killers. They are disgusting and need to be destroyed
    want no one wannto hurt and enslave anything. Can

    ReplyDelete
    Replies
    1. We are all struggling... Godspeed

      Delete
    2. Yes, many are struggling. Most are not murders.

      Delete
  4. Huh! What a journey!

    ReplyDelete
  5. If the idiots that be take away our money, the majority will revolt and kill one another. Sick, deranged people run this realm. They must be stopped because they are murderers and deranged beings. We cannot trust them! Think about it... Do you want to live freely or die? Best wishes to all. We are being taking over by AI...Good Luck!

    ReplyDelete
    Replies
    1. Not AI...Sick, greedy people. Good thread and best to all.

      Delete
  6. Donald Trump and his children are liars and will bring horror to our land. They cannot be trusted.

    ReplyDelete
    Replies
    1. They already have. I don't understand why people don't see it. Most of our presidents have been actors or dirty militants.

      Delete
  7. Sorry to report... You ha have been lied to on every level

    ReplyDelete
  8. Stay calm...the matrix is rebooting... The images will change. You are loved. FYI: Think Your Own Thoughts... Fuck the Matrix 🔊

    ReplyDelete
  9. Was America ever GREAT? Not in my life. One BS lie after another. Politicians are actors. Trump claims he's not a politician AND he is a liar like the rest. Will America EVER be great? Doubt it. The folks running this show are sick, twisted perverts. Will the people stand up to the oppressors? I hope so.We must.

    ReplyDelete
    Replies
    1. Regan used the same tagline. He was a sellout too.

      Delete
  10. These fuckers are deranged gays. What bull I have read. Suck IT!

    ReplyDelete
  11. Carl, you must prove you're not one these rakes. You cannot play both sides. God speed.

    ReplyDelete
    Replies
    1. The proof is in this essay. The burden of proof is on YOU that you're not the "rake" ;)

      Delete
  12. All I will express is that nothing has changed. It seems we are all locked into a massive lie. I do hope and pray we will be relieved of this disgusting hardship soon.

    ReplyDelete
    Replies
    1. ZOG must be destroyed if the entire world is to survive, Carl. This is a worldly dilemma. Best wishes, Audrey






      Delete
  13. I enjoyed your talk with Chris W and the older man. Time will tell how us lowly human slaves of all colors will thrive.

    ReplyDelete
  14. Interesting. Warren B is a filthy rich traitor. If our money system crashes, there will be unbridled insanity worldwide. They can easily replace the $ and life will go on peacefully. But will they? We are dealing with the fake chosenites, who are clearly insane, delusional and deadly. I hope more are paying attention at this juncture in the game. I suggest everyone gird your loins and prepare. We may have to storm the "castle."

    ReplyDelete
  15. The man running this blog is liar and a skilled one. Beware.

    ReplyDelete
    Replies
    1. The anonymous man commenting is a liar, but not a skilled one for he offers no explanation, citation, nor evidence of any kind. Beware ;)

      Delete
  16. Whatever happens, I hope it benefits the peoples of the world.Sharing and kindness has been overlooked for too long. Those running this clown show must be stopped. They are the problem. They must :-!

    ReplyDelete
  17. Regardless of whatever may or may not happen, we the humans are being played or bamboozled. I'm so tired of their sick BS. You cannot trust most people anymore. May God (or Jesus) help us. We need help. Thanks

    ReplyDelete

Post a Comment

Popular posts from this blog

Essay to ~100 teacher colleagues for “red-pill scholarship” to explain, document, & prove Evil totalitarian global scamdemic

Ready for another game-changer? Tartaria was a global civilization with free energy, healing centers, classic architecture that our Evil .01% ‘reset’ ~200 years ago then claimed as their own (mud floods, World’s Fairs, star forts, and more)