I've read and reread this article and still cant get to grips with it entirely. Maybe because there's a lot going on, coupled with the fact that I was pretty much hopeless at comprehension at school. On the flip side I was up there with the best at sums, lol.
On the issue of farmers, here in the UK the government has done everything to impede them, also the French and more recently the Dutch have tipped their produce (including manure) outside governmental agriculture departments.
Regarding fraud the Ukrainians would embarrass the Nigerians.
Lastly for those of you with energy smart-meters be aware, the energy companies at obscure hours switch/turn your heating on centrally, mainly when you sleep or are at work. Due to my irregular work habits/hours I've caught on to this fact. It's been ongoing for at least these last two years in my household, I kid you not. They are desperate!!!!!
Regional government budgets money for debt repayment to federal government. A portion of that debt is cancelled if the amount cancelled is then budgeted for use in one of the prescribed areas. The regional government thus shifts the already budgeted funds to finance the improvement instead of repaying the debt.
On individual debt problems, many got suckered by credit cards and overspent and now can’t repay because their fixed income doesn’t cover all expenses. A very common problem. What this new system allows is the avoidance of bankruptcy court and its expense plus the burden that places on the legal system. Now, you just gather your bills and income statement and submit it. The excess debt that couldn’t be paid is forgiven and the person regains his/her solvency, which means they have a few more rubles to spend on what they need.
On managing economic sectors to ensure liquidity for investment and operations, this is more about shoring-up any sector where some of its participants is showing weakness and needs assistance. You need a loan to raise capital, but the rates are too high, and you don’t qualify. The government doesn’t want the business to not invest, so it works with banks and the appropriate ministries to see what can be arranged.
The real juicy stuff is after the hour mark. Explains plenty. Enough for me to give Trumplethinskin breathing space in this 2nd term as he's learned a lot from his 1st term.
Let me/us know what resonates most for you if anything.
G'day Karl, this all seems strange to me, usually a federal government gives funds to the states for health and education at a preferred rate plus separate grants for infrastructure replacement or greenfield. State levied taxes are used by the said states, where does repayments come in to the picture. States issue bonds independent of the federal government to raise extra funds.
I speak of a federation of Australian states. Further elaboration would be appreciated if time permits.
Equitable redistribution of federal income tax has been a major sore point within the USA for decades. Education is in the province of the states, so we have 51+ different education systems, standards, and such. Where the Feds got involved is in the disparity of school funding with the famous Supreme Court verdict in 1954 dealing with Separate but Equal. Southern “Jim Crow” and even some Northern states had apartheid-like systems of social restrictions that were finally legally dismantled in the 1960s—not all too long ago—and their legacy persists primarily in the economic realm.
Given the direction Trump/Musk is going, states will need to create their own public banking system and issue their own money, which is similar to the situation that existed here in the 1800s. The Trump/Musk goal is to eliminate all regulation that’s done in the public interest so the top 10% can collect even more rents than they do already—it’s a return to the Gilded Age, a period in US History Trump has admitted admiration and wants to emulate.
That’s just a small peek into what’s happening. It’s highly ironic that it was the Conservatives in the early 1900s that introduced basic public regulation of industry that’s called the Progressive Era, which is what Trump wants to erase.
Thanks Karl, this sort of info needs distributing in the MAGA circles before it is too late for them and the working class as a whole particularly in the US. Here the wealthy and religious in society lobbied for equal funding at the wealthy private and religious institutions and now we have falling education standards and facilities at public schools while private schools build equestrian facilities, orchestra pits and other lavish facilities with the increase in federal funding. Strange as it sounds secular parents sent their children to religious schools in the belief of better education which is now a reality at the detriment of our once egalitarian society. We are rapidly becoming like the US a split society of haves and have nots presided over by a so called Labor party by name only. Thanks for your time.
Ellen Brown has written extensively about the advantages of state banks for the US. I’ve only read her on the pages of Counterpunch, but she discusses often the state bank in [if memory serves] North Dakota.
I've been to her website and read her proposals. My MoA buddy psychohistorian and I have discussed them at length. There're zero legal reasons keeping states from issuing their own money from their own treasury and public banking system. Such a proposal has made it into Oregon's legislature but needs more public backing to become reality here. One major problem is federal ownership of state lands, Wyoming being a major example, which drastically reduces their asset base. The US Constitution is specific about the minting of coinage, not the printing of bank notes, being a federal only preserve. With digital banking already a reality and control of federal finance in the hands of Wall Street, the states will need to move and take control of their destinies.
Ban online gambling and casinos. I know it will just go underground but it will stop ordinary people from casually having a go and getting suckered in.
What measures will they take to prevent people getting suckered by there scams in the future? The elderly must be the ones most affected by the telephone scams, but the general populace's naiveté with respect to online fraud and phishing is staggering.
Ukraine is a gigantic parasite sucking the life blood out of any host whom it can attach itself to. How on earth does a country get to such a low state of morality?
I would assume that most people are in debt because of unsustainably high interest rates. Maybe we are not supposed to know that and we are only meant to believe that debt is caused by telephone scams.
I'm in favour of helping people in difficulty, but my impression is that instead of implementing a robust general solution, the government is focusing on some temporary workarounds.
The telephone scams are crimes and not connected with debt problems. And interest rates on credit cards in Russia are about the same as here in the Empire, particularly if you fall behind it goes to 30%. People get into debt by buying on credit. People get into a debt problem by overspending on credit to the point where they can’t afford the payments, which is a massive problem in the West. Trying to spin the issue as being the fault of banks is incorrect.
I've read and reread this article and still cant get to grips with it entirely. Maybe because there's a lot going on, coupled with the fact that I was pretty much hopeless at comprehension at school. On the flip side I was up there with the best at sums, lol.
On the issue of farmers, here in the UK the government has done everything to impede them, also the French and more recently the Dutch have tipped their produce (including manure) outside governmental agriculture departments.
Regarding fraud the Ukrainians would embarrass the Nigerians.
Lastly for those of you with energy smart-meters be aware, the energy companies at obscure hours switch/turn your heating on centrally, mainly when you sleep or are at work. Due to my irregular work habits/hours I've caught on to this fact. It's been ongoing for at least these last two years in my household, I kid you not. They are desperate!!!!!
Regional government budgets money for debt repayment to federal government. A portion of that debt is cancelled if the amount cancelled is then budgeted for use in one of the prescribed areas. The regional government thus shifts the already budgeted funds to finance the improvement instead of repaying the debt.
On individual debt problems, many got suckered by credit cards and overspent and now can’t repay because their fixed income doesn’t cover all expenses. A very common problem. What this new system allows is the avoidance of bankruptcy court and its expense plus the burden that places on the legal system. Now, you just gather your bills and income statement and submit it. The excess debt that couldn’t be paid is forgiven and the person regains his/her solvency, which means they have a few more rubles to spend on what they need.
On managing economic sectors to ensure liquidity for investment and operations, this is more about shoring-up any sector where some of its participants is showing weakness and needs assistance. You need a loan to raise capital, but the rates are too high, and you don’t qualify. The government doesn’t want the business to not invest, so it works with banks and the appropriate ministries to see what can be arranged.
Hopefully, all that helped.
Excellent summary.
Much appreciated Karl.
I understood the gist but now have a better grasp.
OK, now onto my 5 page submission. lol
Writing is good exercise!
If you haven't already - CapitalCosm with Luongo, Armstrong and Krainer is a good listen from yesterday.
I’ll get Krainer tomorrow.
The real juicy stuff is after the hour mark. Explains plenty. Enough for me to give Trumplethinskin breathing space in this 2nd term as he's learned a lot from his 1st term.
Let me/us know what resonates most for you if anything.
It's Armstrong who's the heavyweight and most shocking.
Probably deleted by then.
G'day Karl, this all seems strange to me, usually a federal government gives funds to the states for health and education at a preferred rate plus separate grants for infrastructure replacement or greenfield. State levied taxes are used by the said states, where does repayments come in to the picture. States issue bonds independent of the federal government to raise extra funds.
I speak of a federation of Australian states. Further elaboration would be appreciated if time permits.
Equitable redistribution of federal income tax has been a major sore point within the USA for decades. Education is in the province of the states, so we have 51+ different education systems, standards, and such. Where the Feds got involved is in the disparity of school funding with the famous Supreme Court verdict in 1954 dealing with Separate but Equal. Southern “Jim Crow” and even some Northern states had apartheid-like systems of social restrictions that were finally legally dismantled in the 1960s—not all too long ago—and their legacy persists primarily in the economic realm.
Given the direction Trump/Musk is going, states will need to create their own public banking system and issue their own money, which is similar to the situation that existed here in the 1800s. The Trump/Musk goal is to eliminate all regulation that’s done in the public interest so the top 10% can collect even more rents than they do already—it’s a return to the Gilded Age, a period in US History Trump has admitted admiration and wants to emulate.
That’s just a small peek into what’s happening. It’s highly ironic that it was the Conservatives in the early 1900s that introduced basic public regulation of industry that’s called the Progressive Era, which is what Trump wants to erase.
Thanks Karl, this sort of info needs distributing in the MAGA circles before it is too late for them and the working class as a whole particularly in the US. Here the wealthy and religious in society lobbied for equal funding at the wealthy private and religious institutions and now we have falling education standards and facilities at public schools while private schools build equestrian facilities, orchestra pits and other lavish facilities with the increase in federal funding. Strange as it sounds secular parents sent their children to religious schools in the belief of better education which is now a reality at the detriment of our once egalitarian society. We are rapidly becoming like the US a split society of haves and have nots presided over by a so called Labor party by name only. Thanks for your time.
Ellen Brown has written extensively about the advantages of state banks for the US. I’ve only read her on the pages of Counterpunch, but she discusses often the state bank in [if memory serves] North Dakota.
I've been to her website and read her proposals. My MoA buddy psychohistorian and I have discussed them at length. There're zero legal reasons keeping states from issuing their own money from their own treasury and public banking system. Such a proposal has made it into Oregon's legislature but needs more public backing to become reality here. One major problem is federal ownership of state lands, Wyoming being a major example, which drastically reduces their asset base. The US Constitution is specific about the minting of coinage, not the printing of bank notes, being a federal only preserve. With digital banking already a reality and control of federal finance in the hands of Wall Street, the states will need to move and take control of their destinies.
Ban online gambling and casinos. I know it will just go underground but it will stop ordinary people from casually having a go and getting suckered in.
Romance scammers are the worst, but a lot of tech is vulnerable that you use all the time like your phone.
What measures will they take to prevent people getting suckered by there scams in the future? The elderly must be the ones most affected by the telephone scams, but the general populace's naiveté with respect to online fraud and phishing is staggering.
Ukraine is a gigantic parasite sucking the life blood out of any host whom it can attach itself to. How on earth does a country get to such a low state of morality?
I would assume that most people are in debt because of unsustainably high interest rates. Maybe we are not supposed to know that and we are only meant to believe that debt is caused by telephone scams.
I'm in favour of helping people in difficulty, but my impression is that instead of implementing a robust general solution, the government is focusing on some temporary workarounds.
The telephone scams are crimes and not connected with debt problems. And interest rates on credit cards in Russia are about the same as here in the Empire, particularly if you fall behind it goes to 30%. People get into debt by buying on credit. People get into a debt problem by overspending on credit to the point where they can’t afford the payments, which is a massive problem in the West. Trying to spin the issue as being the fault of banks is incorrect.