Posted To Ellen Brown’s Forum 01/31/2016

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Me:  Yes, the Chinese have what the MMTers and Positive Money people think is the answer…sovereign creation and destruction of money. But that’s not enough both because costs exceed individual incomes as a flow and because elites can never be trusted with power…..unless policies that are the definition of individual and systemic freedom…are mandated by a constitutionally approved and arms length agency.

Marie:  Steve,

That’s a bit of a gobbledegook reply for me.
I’ve been following President Xi and he seems to be working in the interests of the Chinese people, both present and future as he takes a very long term look at what’s happening in the world. He does seem to favour win-win relationships and agreements with other countries, as befits a long-term thinker.
It’s such a pity the leaders in the west are such complete rubbish, with not a long-term strategy or care for the interests of their own citizens in their heads. I also follow Japan, as I was married to a Japanese for 20 years. All this talk of how bad the economy has been since the 90’s has to be seen through the prism of they hate being the stand-out nail that gets knocked down. They are very content to be left alone because of their “economic problems”. Witness their production of so much very high end capital goods and the building of the super maglev train between Tokyo and Nagoya (bullet trains are sooo 20th century!)
The Orient is quite happy for the west to think it is having problems and so be left alone, it does not feel the need to boasting about itself, because it knows it will prevail in the end. I’m quite looking forward to it myself, the world needs long-term thinking…

 

Me:   Marie,

Yes there were a lot of ideas scrunched into that paragraph, but if you got the integrative overall picture of it, it was actually just a realistic and comprehensive look at money, governments and history.

I’m not disagreeing that China’s and perhaps to a lesser degree Japan’s Banking system is much more pragmatic and flexible than western finance. Nor am I ignoring the problems China faces in trying to keep itself from fracturing into many fiefdoms, but power will always tends to corrupt. That’s why you have to put power into “the many hands of the individual. China has Social Credit….for the government and its Banking system. We must have Social Credit and a Tri-level Banking system…for the individual. And if we don’t get together in a mass movement and go for an actual and complete solution to our problems, then ignorance and unconsciousness of what the economy’s deepest problems are combined with rapidly disruptive innovation and AI are going to make it exceedingly easy for power to be the major consideration…instead of individual freedom and systemic free flowingness…which of course it should be.

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