[Majorityrights News] Trump will ‘arm Ukraine to the teeth’ if Putin won’t negotiate ceasefire Posted by Guessedworker on Tuesday, 12 November 2024 16:20.
[Majorityrights News] Alex Navalny, born 4th June, 1976; died at Yamalo-Nenets penitentiary 16th February, 2024 Posted by Guessedworker on Friday, 16 February 2024 23:43.
[Majorityrights Central] A couple of exchanges on the nature and meaning of Christianity’s origin Posted by Guessedworker on Tuesday, 25 July 2023 22:19.
[Majorityrights News] Is the Ukrainian counter-offensive for Bakhmut the counter-offensive for Ukraine? Posted by Guessedworker on Thursday, 18 May 2023 18:55.
The U.S. federal debt has more than doubled since the 2008 financial crisis, shooting up from $9.4 trillion in mid-2008 to over $22 trillion in April 2019. The debt is never paid off. The government just keeps paying the interest on it, and interest rates are rising.
In 2018, the Fed announced plans to raise rates by 2020 to “normal” levels — a fed funds target of 3.375 percent — and to sell about $1.5 trillion in federal securities at the rate of $50 billion monthly, further growing the mountain of federal debt on the market. When the Fed holds government securities, it returns the interest to the government after deducting its costs; but the private buyers of these securities will be pocketing the interest, adding to the taxpayers’ bill.
In fact it is the interest, not the debt itself, that is the problem with a burgeoning federal debt. The principal just gets rolled over from year to year. But the interest must be paid to private bondholders annually by the taxpayers and constitutes one of the biggest items in the federal budget. Currently the Fed’s plans for “quantitative tightening” are on hold; but assuming it follows through with them, projections are that by 2027 U.S. taxpayers will owe $1 trillion annually just in interest on the federal debt. That is enough to fund President Donald Trump’s trillion-dollar infrastructure plan every year, and it is a direct transfer of wealth from the middle class to the wealthy investors holding most of the bonds.
Where will this money come from? Crippling taxes, wholesale privatization of public assets, and elimination of social services will not be sufficient to cover the bill.
Bondholder Debt Is Unnecessary
The irony is that the United States does not need to carry a debt to bondholders at all. It has been financially sovereign ever since President Franklin D. Roosevelt took the dollar off the gold standard domestically in 1933. This was recognized by Beardsley Ruml, Chairman of the Federal Reserve Bank of New York, in a 1945 presentation before the American Bar Association titled “Taxes for Revenue Are Obsolete.”
“The necessity for government to tax in order to maintain both its independence and its solvency is true for state and local governments,” he said, “but it is not true for a national government.” The government was now at liberty to spend as needed to meet its budget, drawing on credit issued by its own central bank. It could do this until price inflation indicated a weakened purchasing power of the currency.
Then, and only then, would the government need to levy taxes — not to fund the budget but to counteract inflation by contracting the money supply. The principal purpose of taxes, said Ruml, was “the maintenance of a dollar which has stable purchasing power over the years. Sometimes this purpose is stated as ‘the avoidance of inflation.’”
The government could be funded without taxes by drawing on credit from its own central bank; and since there was no longer a need for gold to cover the loan, the central bank would not have to borrow. It could just create the money on its books. This insight is a basic tenet of Modern Monetary Theory: the government does not need to borrow or tax, at least until prices are driven up. It can just create the money it needs. The government could create money by issuing it directly; or by borrowing it directly from the central bank, which would create the money on its books; or by taking a perpetual overdraft on the Treasury’s account at the central bank, which would have the same effect.
The “Power Revolution” — Transferring the “Money Power” to the Banks
The Treasury could do that in theory, but some laws would need to be changed. Currently the federal government is not allowed to borrow directly from the Fed and is required to have the money in its account before spending it. After the dollar went off the gold standard in 1933, Congress could have had the Fed just print money and lend it to the government, cutting the banks out. But Wall Street lobbied for an amendment to the Federal Reserve Act, forbidding the Fed to buy bonds directly from the Treasury as it had done in the past.
The Treasury can borrow from itself by transferring money from “intragovernmental accounts” — Social Security and other trust funds that are under the auspices of the Treasury and have a surplus – but these funds do not include the Federal Reserve, which can lend to the government only by buying federal securities from bond dealers. The Fed is considered independent of the government. Its website states, “The Federal Reserve’s holdings of Treasury securities are categorized as ‘held by the public,’ because they are not in government accounts.”
Noteworthy gains were made by Europe’s nationalist-populist, eurosceptic parties in this weekend’s European Parliament elections as support for centrist parties which had previously dominated the European Union for decades drastically fell.
The enormous success enjoyed by Italy’s League party, France’s National Rally, and the UK’s five-week-old Brexit party are glaring signs that Europe is indeed undergoing significant changes.
Signs like these mark the beginning of a “new European Renaissance,” declared Matteo Salvini, Italy’s populist Deputy Prime Minister, Interior Minister, and leader of the League at party headquarters in Milan.
“A new Europe is born. I am proud that the League is participating in this new European renaissance,” Salvini asserted.
Salvini continued, saying, “Significantly, as the ‘League’ became the dominant party in Italy, Marine Le Pen swept into a leading position in France, and Nigel Farage in the UK… This is a sign that Europe is changing, Europe is tired of being a slave to the elites, corporations and the powers-that-be.”
Surprisingly, the League’s populist coalition partner, the Five Star Movement (MS5), was outdone by the center-left Democratic Party (PD) which came in second.
The League, which campaigned on a platform that attacked the globalist, pro-mass migration policies of the European Union, made sweeping gains, outdoing it’s governing coalition partner and rival, the 5-Star Movement.
Salvini assured reporters in Milan that the European election results wouldn’t ignite any “settling of accounts” within Italy’s internal political landscape, adding that, “nothing changes at the national level.”
Salvini reiterated that globalist left-wing forces that have incompetently governed Italy and Europe for years now remain as his chief adversaries, while his populist allies in government were partners and friends with whom he would immediately resume cooperation and joint work.
Just five years ago, in Europe’s last parliamentary elections, the League barely managed to overcome the 6 percent barrier.
Since then eurosceptic, populist, and ethnonationalist parties have made significant gains across Europe in EU parliamentary elections, as the political center – which has dominated for the past 40 years – has been hollowed out substantially.
......unite right wing reactionaries against “the left” (don’t be so “divisive” as to “punch right”) and conquer (erstwhile White/ethnonational social systemic homeostasis)?
With Majorityrights having recently been taken off of the WN/news aggregate site formerly known as “the White Right Hub” and now the “Goebbels Report” after MR had the nerve to question the wisdom of their promoting “The Greatest Story Never Told” in the name of White morale and unity? as it features wholesale lies from Goebbels - e.g., that Poles killed 58,000 German civilians interwar - in order to “justify” invasion of Poland…the question comes into relief again:
What part is Regnery playing in promoting the socially disorganizing right wing identity among Whites in their reaction to affliction? and is a Germanic/Jewish element among Regnery using this to promote divide and conquer among Whites?
What begs these questions?
Following MR having called-out the White Right Hub for featuring this highly inaccurate and destructive propaganda, they did replace the feature (“Greatest Story Never Told”), with a headline of a Polish woman who had a child with a black, who then, typically, abandoned her.
This is quite Jewy. I cannot imagine mocking Germans for their mudsharks. And it casts suspicion on this spirit of unity that these right wingers claim to be promoting and how I am the one supposedly sowing discord.
Not long after, none other than Regnery’s pet, Richard Spencer, was being featured atop The Goebbels Report…
Regnery is apparently sponsoring much of the dubious right wing White identity - such as Richard Spencer’s NPI and Mike Enoch’s TRS.
Norvin tells me that a character going by the nom de plume of “Privada” is acting as a producer (gate-keeper) for those going on (what I’m guessing is) the Rengery approved circuit.
Regnery and Spencer, central umbrellas in the Regnery Tentosphere. Richard Thpenther thays, “If you’re not right on “the PQ” (Polish question), we’re going to purge you from thith movement” - (((Alternative Right))).
Regnery Publishing is a conservative book publisher based in Washington, D.C. An imprint of Salem Media Group, it is led by president Marji Ross. The company was founded by Henry Regnery in 1947.[3][4][5]
Regnery has published books by authors such as former Republican Party chairman Haley Barbour, Ann Coulter, Sarah Palin, former Speaker of the United States House of Representatives Newt Gingrich, columnist Michelle Malkin, Robert Spencer, pundit David Horowitz, Vice President Mike Pence and his family and Barbara Olson.
Again, Regnery is known to sponsor many right wing projects, including those that “White Nationalists” are involved in, apparently sponsoring TRS (see here, here and here as to why that’s particularly dubious) in addition to Spencer’s NPI (among the manifold dubiousness of that outfit, for example, here).
Below are samples from the most recent tweet to tweets not far down the line (even though some of the dates are old) from Regnery president, Marj Ross, indicating a kosher aesthetic.
Dave Sussman, Whiskey Politics
@DavidSussman
20 Dec 2018
.@Regnery inspires new authors! Learn how to get published, catch up on 2018’s best books & what’s upcoming in 2019 as Marji Ross joins me at #WhiskeyPolitics.
Produced by Praemonitus Communications @6foot2inhiheels.
@SebGorka @VP @AnnCoulter @YouTube
@shellieblum
9 Jun 2016
More
Replying to @MRossRegnery
@Regnery @oreillyfactor You did a great job! It’s nice 2 hear someone in the traditional Publishing World be authentic! #books
0 replies 2 retweets 1 like
Reply Retweet 2 Like 1 Direct message
....
Marji Ross
@MRossRegnery
26 Apr 2016
More
Meeting with the incredibly talented and beautiful #Stacey Dash to plan the launch of her upcoming Regnery book!
Paul Gottfried, Gilad Atzmon and David Cole Stein are three ready examples of Jews who are taking the kind of right wing and philo-Germanic perspective that is characteristic of the Regnery circus (even if Stein and Atzmon are not published by Regnery, they are common as “the good Jews” among Regnery discourse-promotional circuits).
Buchanan, Gottfried and Spencer. Along with President Reagan, Buchanan is a descendant of (((Frank Meyers))) “fusionism” (Judeo-Christianity + Enlightenment objectivism), so too Paul Gottfried; and Gottfried, a German Jew, tends to see “the bad Jews as Slavic”; of high relevance, Gottfried’s fear of intersectionality against “The Left” had him call for damage control misdirection against a White Left ethnonational response to Jews in their ascendance to unprecedented hegemony circa 2008, calling for a Paleoconservatism 2.0, an Alternative Right, which Richard Spencer took up - a tentosphere of right wing reactionaries now usually being called “the dissident right” after Spencer and his Alt-Right brand name were predictably steered into destruction.
David Cole-Stein, adversary of “The Left”, supported early holocaust revisionist efforts, a proud German-Jew who detests Slavic Jews.
Atzmon, philo-Germanic, anti-Zionist
...offering some insider critique of Jewish power and influence
(probably as semi conscious damage control)
but otherwise basically a liberal.
700 years is a long time, many centuries, many generations, many people who saw how Seville flourish thanks to the commerce of the Spanish Empire, becoming the centre of Southern Spain.
Seville is truly a city with an interesting history, with important and curious events. Today’s event has gone unnoticed by the majority of Spaniards and Sevillians, as well as most of the media. Perhaps in the eyes of Sevillians, this event is only considered part of the “innocent” game called multiculturalism.
The title doesn’t lie, Seville, a city with a deeply Catholic tradition, will have its first mosque in 700 years, after the Reconquista. Many people will ask “what’s wrong? It’s just a simple mosque.” And to be honest, putting myself in their place, I would also ask myself, “What’s wrong with a mosque?”
Nine years ago, there was an attempt to put a mosque in the Sevillian neighbourhood of San Jerónimo. The response of the neighbours was blunt: NO!
As you can see in the video, the reaction was clear. Of course, this protest was labelled as islamophobe, xenophobe, and others “phobes” from the list the regressive left uses to attack patriotism.
But now, it’s different.
The new mosque
In the scene of this political theatre, enters a man called Kanoute, a former player of the football team Sevilla FC, which is raising 300,000 euros for the construction of the mosque.
“I do it to save the Islamic worship of the city,” he declared.
In a country like Spain, which the Muslim population has reached 4% and continues to grow under this Socialist government, the opening of this seemingly unimportant mosque will open the appetite for the construction of many more. The same trend has been seen in Barcelona for example.
With the capitulation of another city in Spain, its European roots begin to tremble. Attacks on Spanish culture can be seen daily. Me your writer, a simple Spaniard and Sevillian, cannot but help remembering the words of Ferdinand III of Castile, who reconquered the city:
“I did not rid this city of the Mohammedan power so that hundreds of Moors stay here to practice their infidel rites.”
The Spaniards do not forget, the spirit of the Reconquista is still alive.
As a Remain voter to begin with, Theresa May’s Prime Ministership looked more and more like a grand filibuster to obstruct Brexit indefinitely. And, as Allister Heath said over at the Daily Telegraph, 22 May 2019:
Theresa May at the top nearly 3 years
As prime minister, following David Cameron
6 years before that, as home secretary
Failed to win 2017 general election outright, but stayed PM
Remainvoter in the 2016 EU referendum
Brexit dominated her time at 10 Downing Street. (PA)
There may be a chance of a Tory-Brexit Party pact as some point, but zero chance the supporters of Mrs May’s deal or her allies will be spared the full force of Nigel Farage’s Party.
The reality is that nobody who believes in Brexit can possibly vote for Mrs. May’s deal. There is no longer any excuse, no longer any room for doubt. Mrs. May’s latest version is an admission that the established parties will never allow us to leave the E.U.
It is an attempt to entrench the status-quo, the symbol of a broken West Minster stuck on a doom-loop.
In its denial of democracy and its decision to put process above substance, it is also a provocation.
It tells Brexiteers that they will only get change if they elect new MP’s from new parties; many will oblige, keen to usher-in fresh, more responsive politics
Mrs May became emotional as she concluded her announcement.
Theresa May has said she will quit as Conservative leader on 7 June, paving the way for a contest to decide a new prime minister. In an emotional statement, she said she had done her best to deliver Brexit and it was a matter of “deep regret” that she had been unable to do so.
Mrs May said she would continue to serve as PM while a Conservative leadership contest takes place.
The party said it hoped a new leader could be in place by the end of July. It means Mrs May will still be prime minister when US President Donald Trump makes his state visit to the UK at the start of June.
Mrs May announced she would step down as Tory leader on 7 June and had agreed with the chairman of Tory backbenchers that a leadership contest should begin the following week.
On Friday, Foreign Secretary Jeremy Hunt became the latest MP to say that he would run for the party leadership, joining Boris Johnson, Esther McVey and Rory Stewart, who had already confirmed their intentions. More than a dozen others are believed to be seriously considering entering the contest.
The prime minister has faced a backlash from her MPs against her latest Brexit plan, which included concessions aimed at attracting cross-party support.
Andrea Leadsom quit as Commons leader on Wednesday saying she no longer believed the government’s approach would “deliver on the referendum result”.
Mrs May met Home Secretary Sajid Javid and Foreign Secretary Jeremy Hunt at Downing Street on Thursday where they are understood to have expressed their concerns about her proposed withdrawal bill.
In her statement on Friday, she said she had done “everything I can” to convince MPs to support the withdrawal deal she had negotiated with the European Union but it was now in the “best interests of the country for a new prime minister to lead that effort”. She added that, in order to deliver Brexit, her successor would have to build agreement in Parliament.
“Such a consensus can only be reached if those on all sides of the debate are willing to compromise,” she said.
Mrs May’s voice shook as she ended her speech saying: “I will shortly leave the job that it has been the honour of my life to hold. The second female prime minister, but certainly not the last.”
“I do so with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country I love.”
For Britain leader Anne Marie Waters has posted a message thanking Morrissey for his support of the controversial nationalist party.
The former Smiths frontman has made headlines recently after he was seen sporting a For Britain badge while on tour in the US, before also wearing one while performing on Jimmy Fallon on US TV.
The nationalist party was founded by the anti-Islam activist Anne Marie Waters after she was defeated in the 2017 UKIP leadership election. The controversy and association for Morrissey began when he discussed accusations of racism and alleged connections between Halal meat and ISIS. He also said that London Mayor Sadiq Khan “can not talk properly”. He later issued a new statement in which he said he “despised racism and fascism” and voiced his support for Muslims, while also advocating For Britain.
Now, Waters has shared a new message of gratitude for the singer on Youtube: “Thank you so much for your support since the UKIP leadership election,” she said. “Thank you for giving us so much publicity.”
She continued: “I can tell you that the traffic to our website exploded with the story breaking of you wearing the For Britain button badge, which you have been wearing everywhere from what I can see. We have sold out of those, but the good news is we have more, and they have been selling like hot cakes, so thank you very much for doing that.”
Waters added: “Thank you, Morrissey. I hope to meet you one day. Thank you, Daily Mail. Keep up the hysterical smearing. It’s having the opposite effect. You are driving people to us.”
Explaining his support of For Britain last year, Morrissey said that he followed them as they were an upset to the status quo of Conservative and Labour governments. He strongly denied accusations of racism.
“I have been following a new party called For Britain which is led by Anne Marie Waters,” said Morrissey. “It is the first time in my life that I will vote for a political party.
Finally I have hope. I find the Tory-Labour-Tory-Labour constant switching to be pointless.
“For Britain has received no media support and have even been dismissed with the usual childish ‘racist’ accusation. I don’t think the word ‘racist’ has any meaning any more, other than to say “you don’t agree with me, so you’re a racist.” People can be utterly, utterly stupid.”
Calling for more free speech in the political realm, Morrissey continued: “Anne Marie Waters seeks open discussion about all aspects of modern Britain, whereas other parties will not allow diverse opinion. She is like a humane version of Thatcher … if such a concept could be. She is absolute leadership, she doesn’t read from a script, she believes in British heritage, freedom of speech, and she wants everyone in the UK to live under the same law.
He added: “I know the media don’t want Anne Marie Waters and they try to smear her, but they are wrong and they should give her a chance, and they should stop accusing people who want open debate as being ‘racist’. As I said previously, the left has become right-wing and the right-wing has become left – a complete switch, and this is a very unhappy modern Britain.”
Many took to Twitter to criticise Morrissey’s support of For Britain after he was seen wearing their badge.
“My former friend sporting a For Britain badge, a party violently anti-Islam, filled with ex-BNP and ex-EDL, pro-privatisation, far right and prone to exploiting tragedies to disseminate divisive anti-immigrant rhetoric online,” wrote journalist Dave Haslam on Twitter, sharing the image. “What happened to ‘It takes guts to be gentle and kind’?”
Morrissey will release his new covers album ‘California Son‘ on Friday May 25.
“Because of the insane austerity in Brussels, hundreds of children are DYING in Greece…
I do not care to have the accounts in place and the cemeteries full, I want for every Italian to be able to afford to found a family with a stable job…
In the radio program “Good Morning, Hungary”, Prime Minister Viktor Orbán said that a strong message must be sent to Brussels in the EU elections: “we want change, and a Europe that protects its borders on land and at sea”.
He also said that “we want to see leaders in Brussels who don’t want to organize migration, but who want to stop it”.
The Prime Minister added that there is a “liberal mafia” – including politicians, journalists and analysts – who are “flush with money”, and are working to convince the world that there is nothing that can be done to stop migration.
But, he said, when it turns out that there is indeed something that can be done – when Hungary stops migration on land, Italian Minister of the Interior Matteo Salvini does the same at sea and US president Donald Trump decides to build a wall – then these opponents of migration “start to be treated as hate figures”.
Mr. Orbán stated that “the EU elections are about accepting or breaking free” from the way of thinking that such pro-migration people “are trying to force onto us”, he stressed, adding that Europe needs leaders to defend it, because Europe is the home of Europeans and Hungary is the home of Hungarians.
He said that the majority of Hungarians “feel a chill run down their spines” when they hear so many European politicians saying that migration is good, but that it should be better organised than it is today.
Asked whether there is any candidate for the post of President of the European Commission that he would support after having withdrawn his backing from Manfred Weber, Mr. Orbán said, “there will be, after the election”.
He said that two days after the election negotiations will begin for the selection of future European leaders, and “We’ll see how much support has been received by which political figures in which countries”.
Regnery and Spencer, central umbrellas in the Regnery Tentosphere. Richard Thpenther thays, “If you’re not right on “the PQ” (Polish question), we’re going to purge you from thith movement” - (((Alternative Right))).
Without children, Italians have no future.
Theresa May at the top nearly 3 years
