Nothing is off the menu

[Bill Bonner’s Diary]( Nothing Is Off the Menu By Bill Bonner Thursday, August 13, 2020 – Week 22 of the Quarantine [Bill Bonner] SAN MARTIN, ARGENTINA – The news this morning tells us that the Republicans and Democrats are still “$1 trillion apart” in their negotiations. Both favor more “stimulus.” That is, both favor taking more money from people who earned it and giving it to people who didn’t. They’re just dickering over the price. But there are lots of ways of ripping people off. And the nice thing about the feds’ counterfeiting is that it is more like a white-collar embezzlement than sticking up a liquor store in a bad neighborhood. Often, the victims never even find out that they’ve been scammed. That is why there is such widespread support for more “stimulus.” The voters see the money coming their way; they don’t see where it comes from. Recommended Link [Why are So Many Politicians Piling into Pot?]( [image]( In the span of a few years, some of the most vocal opponents of marijuana legalization have flipped a complete 180… In doing so, they’ve set themselves up to make a fortune. Fox News’s Judge Jeanine Pirro just exposed this story in a hard-hitting interview that’s too controversial for TV. [Click here to watch it]( -- Simple Solution Yesterday, we looked at why the “[eat the rich]( doctrine is likely to catch on. The feds corrupted the whole economy – and society itself – with their fake money, fake interest rates… and trillions of dollars given to Wall Street. The fake interest rates increased debt and cut growth rates in half. And they twisted the economy away from Main Street (where most people earn their living) and toward Wall Street (where the top 10% of the population owns nearly 90% of the assets.) This “financialization” made the rich richer, but it left most people (relatively) poorer. People don’t understand how it works. And they don’t want to understand. But they feel cheated. Many want revenge. The solution, as we pointed out yesterday, is very simple: Just say “no” to the fakery and the larceny. No more stimulus. No more deficits. No more Federal Reserve support for Wall Street. No more counterfeiting. [The FINAL Wave of 5G Millionaires Starts Any Day Now.]( Simple Truth If Mr. Trump really wanted to “make America great again,” and had any idea what was really going on, he’d have a “fireside chat” with the voters and explain it to them. He’d look them in the eye and tell them the truth: that printing money does not bring them new wealth; it merely shifts it from those who earned it to those who didn’t… and that every penny of real wealth that comes their way from the federal government must sooner or later come from them. He’d describe how American capitalism has been perverted by fake money. And he’d show how money-printing has slowed down the economy… and transferred trillions in real wealth to the people who need it least – the rich. There are only two kinds of money – real or fake. (The president is welcome to draw on our Diaries to help voters understand…) Real money is created by providing real goods and services to others. Traditionally, it is represented by gold or silver tokens… or pieces of paper backed by gold or silver. Take out the gold or silver, and you just have pieces of paper – which can be printed in any quantity the authorities choose… regardless of the real wealth involved… and used for whatever claptrap purpose they want. Recommended Link [How Jeff Bezos Made 6,206% on TINY Niche of Tech Stocks…]( [image]( There is a secret class of tech stocks that go public almost every week… they are TINY. And the media all but IGNORES them. But Jeff Bezos knows their secret. In fact, he made 6,206% on one of these tiny tech IPO stocks. Today, America’s top angel investor reveals his No. 1 small-tech IPO stock. [See the pick here…]( -- Easy Way Out Forty years ago, then Fed chief Paul Volcker held the line. Instead of printing more fake money, he printed less… and saved the fake-money system. But historically, at least since the reign of the Roman Emperor Nero, the temptation to create “too much” fake money has been irresistible. And today’s leaders – in Congress and the Federal Reserve – are hewn from softer wood than Volcker; they bend easily. Faced with a “crisis,” they don’t rise to the challenge – they stoop to it. What a delight it would be for The Donald to call out one of the biggest hinds in the whole jackass herd – former Fed chief, Ben Bernanke. In the long, tawdry story of central banking, no better illustration of malfeasance and economic quackery can be found than in his book, The Courage to Act. He applauds himself – as if he were Horatio at the bridge – for having the “courage” to take the easy way out. Instead of stiffening his backbone and letting the markets do what they do best – sort out the feds’ errors – he “printed” trillions of dollars in order to keep speculators from getting what they deserved. And thus, did he make the rich richer… and hasten the arrival of the barbarians, now gathered at the gates, knives and forks in hand, ready to eat them. Bernanke “printed” $3.6 trillion over a five-year period – an unprecedented increase in America’s monetary base. Today’s Jerome Powell-led Federal Reserve, however, printed nearly that much in just 90 days. And it’s just getting started… Last week, there was a $4 trillion deficit to fund. Next week, the deficit may be $5 trillion or $6 trillion. Neither conservatives nor liberals offer any objection. They, too, have the courage to spend other people’s money. Don’t ask; don’t tell. Just print! [This Revolutionary Tech IS the #1 Investment of the Century.]( Cold Turkey Then, after describing the slimey hole into which the republic has fallen, speaking in a low, solemn voice, carefully reading from the teleprompter, President Trump could finally rise to the role he was elected to play. As if his brain had suddenly come to life, he could announce a program that might actually “make America great again.” He’d let it be known that he was planning to set things right – first, by removing the Fed chairman, and then, by vetoing all spending bills for which no funds were available. In other words, if America was going to continue down this long, dark road to inflation, bankruptcy, and social suicide, it would be over his dead body. Which is probably how it would turn out. Immediately, Wall Street would crash. The problem of “inequality” would be solved in minutes. Interest rates would rise. Bad businesses would go broke. Bad managers would lose their jobs. The share buybacks would end. And anyone who had to refinance a house or a business loan would be in big trouble. Desperate for real money, entrepreneurs, businessmen, and ordinary citizens would have to get to work immediately to earn it. The next day, there would be a full-page editorial in The New York Times, signed by hundreds of leading economists, telling us that the president had lost his mind and should be impeached. The entire elite establishment – the Swamp, the press, the universities, the bureaucrats… the do-gooders and world-improvers… the cronies… and the military/industrial/Wall Street/medical/educational/prison complex – would be against him. Going cold turkey wouldn’t be easy. Probably impossible. But what fun for us! Finally, there would be something true… straight… and honest to write about. Recommended Link [Urgent Biotech BUY Alert]( [image]( The FDA fast-tracked the biggest antibiotic breakthrough in 30 years. When approved, this new drug could be a lifesaver for millions of people. And it could generate a major windfall for early investors. Shares of this tiny biotech could spike 12x in just hours. Time is of the essence… [Click here for more details]( -- Fantasy World As it is, there are many different messages in the press. And they are almost all fraudulent. The Trump Team wants more stimulus. Trump – the biggest spender in U.S. history – proposes another unfunded tax cut. Meanwhile, the Biden-Harris team promises even more financial mayhem… The Democrats’ current bid for the next stimulus program is $3.4 trillion. Harris’ “LIFT the Middle Class” proposal would add $2.8 trillion to the debt over the next eight years. Taken together, Biden and Harris’ proposals could cost as much as $10 trillion. In this fantasy world, no proposal… no idea… no program is so outrageous or so stupid that it is out of the question. Eat the rich? Sure, why not? Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=“Nothing Is Off the Menu). --------------------------------------------------------------- FEATURED READS [What a Weakening Dollar Means for the Global Economy]( to The Guardian, the value of the U.S. dollar has dropped 10% since March. There are short- and long-term consequences to this trend that will impact various countries of differing wealth. [Learn more here]( [A Digital Dollar Will Not Lead to a Precious Metals Ban]( digital currency legislation first showed up this year in the CARES Act. Instituting a national digital currency would make cash obsolete. But what would this mean for precious metals investors? Will the government ban gold and silver? This is what you can expect… MAILBAG One dear reader shares his skepticism of Wednesday’s Diary, [“Get Out Your Forks and Knives!”]( in which Bill clarified the difference between real capitalism… and the “capitalism” that’s rampant today… What Chris Hedges is missing is it that “true” capitalism has morphed into “make-believe” capitalism – that’s what you seem to be saying. I’m trying to understand: Is that morphing inevitable, or not? If we were somehow to return to “true” capitalism, would that “true” capitalism not once again morph into “make-believe” capitalism, with such a cycle repeating ad infinitum? – Herb K. And another dear reader points out the upside-down nature of the monetary system… A dollar is defined in the U.S. code as an ounce of silver. Federal Reserve Notes are neither a dollar – nor are they redeemable in dollars or anything else (perhaps they would be effectively redeemable in gold and silver coins). The Constitution requires states to tender gold or silver coin in payment of debts. The U.S. mints those coins, but then the U.S. charges a capital gains tax on those coins. Obviously, such a tax means those coins will never circulate as money. However, there is no capital gains tax levied on Federal Reserve Notes, but there is a tax levied on what is defined by statute as a dollar. You noted reformation of the monetary system, which will only happen when it originates from people who may benefit from a reformation. As federal legislators have no interest in doing so, it ultimately must come from the people at the state level. Way forward: Use the so-far dormant power of a state where their resources in a legal issue are necessary. – Aaron K. Is “true” capitalism destined to be morphed into “make believe” capitalism? Would state-level monetary intervention promote reformation? Write us atfeedback@rogueeconomics.com. IN CASE YOU MISSED IT… [EXTREMELY URGENT AND TIME-SENSITIVE (The gains could come at any moment)]( Please watch this video that Wall Street insider Jason Bodner recorded from his home office… It’s URGENT. It’s about an extremely lucrative yet highly time-sensitive opportunity that could disappear any time. [Details here.]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [How You Can Start Profiting From Maganomics Today]( [image]( [How to Make A Fortune From Legal Cannabis]( [image]( [Trading Basics: Two Building Blocks Every Trader MUST Know]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Share]( [FACEBOOK]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. 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