[Majorityrights News] KP interview with James Gilmore, former diplomat and insider from first Trump administration Posted by Guessedworker on Sunday, 05 January 2025 00:35.
[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.
The Financial Times, the strange colored newspaper you see at airports, is not known for its skepticism of modern global economics. Therefore, it was a bit of a shock to see the mouthpiece of global finance come out in favor of a radical rethinking of the economic order. They argued that all options must be on the table in order to address the tattered relationship between the people and their governments. In their words, the social contract must be restored after the virus panic ends.
The alleged sentiments behind the editorial are not wrong. The primary duty of any government is the welfare of the people. It’s why we have government. Sure, we assign it functions like protecting private property and enforcing contracts, but that’s not the reason we invented government. Similarly, the state defends the privileges of the rich at the expense of everyone else. This has been true since the dawn of man, but again, this is not why human societies have governments.
The point of government is the general welfare of the people. That means defending against attacks from abroad and attacks from within. The former is straight forward, but the latter is where things get complicated. Defending against internal threats is about a set of laws and customs for the purpose of maintaining order. The character and nature of the people will determine these internal structures. Good order in the lands of the Mohammedan is different than good order in the Orient.
This is not a concern in a world of nations and nation states. In a world of global capital and the free flow of goods and people across borders, it is nearly impossible. The state cannot enforce the customs of its people when its people change with each generation, maybe with each decade. When economics requires the people to yield their ancient customs and liberties, the point of government is no longer the welfare of the people, but as middle-man, facilitating conformity to economic necessity.
This is where the globalist on the Financial Times editorial board fail in their analysis of the current crisis. The social contract, if there is one, is not built around a set of economic policies. It is not a set of rules imposed by the keepers of the economy in order to make transactions as efficient as possible. The social contract is the invisible bonds between the people. It is this dedication to the shared welfare that necessitates the creation of the state in order to maintain those bonds.
Those invisible bonds are not the creation of the state, but the result of the mating decisions of our ancestors. The social contract between Finns is just the conceptualization of their shared history and ancestry. It is unique to them. What makes a Finn and Finn is not where he stands on the map or how he does business. What makes him a Finn is he is the fruit of the Finnish family tree. To be Finn means the ability to one day make more Finns. That’s biology, not economics.
The social contract can only exist among a people with a shared ancestry. If the goal is to restore the social contract, the first step is not a new round of economic fads, but a restoration of the ancient bonds among people. The West must first become a collection of nations again. Only in a world of nations can the governments of those nations preserve and defend the social contract. Safeguarding the welfare of the people can only happen when there is a people, rather than just people.
This is the fundamental flaw of the current order. Cosmopolitan globalism rests on the false notion of homo economicus. This is the assumption that humans are rational, self-interested, and pursue their subjectively-defined ends optimally. More important, it assumes that people are defined internally, rather than by the untold number of invisible bonds and interactions with their society. Globalism assumes man lives in a particular society, because it benefits in some way to do so.
Not only is this false, but homo economicus is in direct contradiction with the concept of a social contract. Socrates could not flee Athens and avoid death, because to do so would mean he was no longer Socrates. Who he was as a person was defined by his membership in the polis called Athens. The social contract cannot exist in a world of atomized individuals. The social contract can only exist in a world where people are defined by their membership in a society of their people.
In what is being called the worst financial crisis since 1929, the US stock market has lost a third of its value in the space of a month, wiping out all of its gains of the last three years. When the Federal Reserve tried to ride to the rescue, it only succeeded in making matters worse. The government then pulled out all the stops. To our staunchly capitalist leaders, socialism is suddenly looking good.
The financial crisis began in late February, when the World Health Organization announced that it was time to prepare for a global pandemic. The Russia-Saudi oil price war added fuel to the flames, causing all three Wall Street indices to fall more than 7 percent on March 9. It was called Black Monday, the worst drop since the Great Recession in 2008; but it would get worse.
On March 12, the Fed announced new capital injections totaling an unprecedented $1.5 trillion in the repo market, where banks now borrow to stay afloat. The market responded by driving stocks 8% lower.
On Sunday, March 15, the Fed emptied its bazooka by lowering the fed funds rate nearly to zero and announcing that it would be purchasing $700 billion in assets, including federal securities of all maturities, restarting its quantitative easing program. It also eliminated bank reserve requirements and slashed Interest on Excess Reserves (the interest it pays to banks for parking their cash at the Fed) to 0.10%. The result was to cause the stock market to open on Monday nearly 10% lower. Rather than projecting confidence, the Fed’s measures were generating panic.
As financial analyst George Gammon observes, the Fed’s massive $1.5 trillion in expanded repo operations had few takers. Why? He says the shortage in the repo market was not in “liquidity” (money available to lend) but in “pristine collateral” (the securities that must be put up for the loans). Pristine collateral consists mainly of short-term Treasury bills. The Fed can inject as much liquidity as it likes, but it cannot create T-bills, something only the Treasury can do. That means the government (which is already $23 trillion in debt) must add yet more debt to its balance sheet in order to rescue the repo market that now funds the banks.
The Fed’s tools alone are obviously incapable of stemming the bloodletting from the forced shutdown of businesses across the country. Fed chair Jerome Powell admitted as much at his March 15 press conference, stating, “[W]e don’t have the tools to reach individuals and particularly small businesses and other businesses and people who may be out of work …. We do think fiscal response is critical.” “Fiscal policy” means the administration and Congress must step up to the plate.
What about using the Fed’s “nuclear option” – a “helicopter drop” of money to support people directly? A March 16 article in Axios quoted former Fed senior economist Claudia Sahm:
The political ramifications of the Fed essentially printing money and giving it to people – there are ways to do it, but the problem is if the Fed does this and Congress still has not passed anything … that would mean the Fed has stepped in and done something that Congress didn’t want to do. If they did helicopter money without congressional approval, Congress could, and rightly so, end the Fed.
The government must act first, before the Fed can use its money-printing machine to benefit the people and the economy directly.
The Fed, Congress and the Administration Need to Work as a Team
On March 13, President Trump did act, declaring a national emergency that opened access to as much as $50 billion “for states and territories and localities in our shared fight against this disease.” The Dow Jones Industrial Average responded by ending the day up nearly 2,000 points, or 9.4 percent.
The same day, Democratic presidential candidate Rep. Tulsi Gabbard proposed a universal basic income of $1,000 per month for every American for the duration of the crisis. She said, “Too much attention has been focused here in Washington on bailing out Wall Street banks and corporate industries as people are making the same old tired argument of how trickle-down economics will eventually help the American people.” Meanwhile the American taxpayer “gets left holding the bag, struggling and getting no help during a time of crisis.” H.R. 897, her bill for an emergency UBI, she said was the most simple, direct form of assistance to help weather the storm.
Posted by DanielS on Saturday, 21 March 2020 12:21.
Millennial Woes, in his premature assent to e-celebrity, exercises a 20/20 “hindsight” that actually serves the wishful blindness and seeks to gain audience from the large market of America’s beleaguered White demographic - particularly German/Irish - susceptible in reaction to be overly sympathetic to Nazi Germany, circulating false currency through their internet bubble with it’s insulated and instant “historical expertise”...and in Millennial Woes rookie mistake to go with that blindered perspective, he serves Jewish divide and conquer.
MW Ostracises half of Britain
Millennial Woes says “World War II shouldn’t have happened.”
Daniel Sienkiewicz
7 hours ago (edited)
World War II shouldn’t have happened: Take it to Hitler. He was the one attacking other European ethnonstates. The Nations to his east, which he wanted to take over imperialistically, were all AGAINST the Soviet Union and were All Anti-Semitic - willing to work on deportation plans. I.e, Hitler/Nazi Germany were NOT fighting a defensive war.
FiveLiver
7 hours ago
My agreement with this comment has vanished twice now despite different spellings.
Anglus Patria
2 hours ago
Chamberlain and Hitler both made grave mistakes, both cost their nations everything.
Churchill, FDR and Stalin are evil. Churchill and FDR consciously went against their own people’s interests.
Daniel Sienkiewicz
12 minutes ago
Anglus Patria and Hitler wasn’t evil? Baloney. If you want to exercise 20/20 hindsight then wish that Hitler was not such an asshole as to attack other European countries, including ones that were A) Against the Soviet Union and B) Anti Semitic and willing to deport them.
Turnip Townshend
46 minutes ago
What is this Polish trickery?
Daniel Sienkiewicz
10 minutes ago
@Turnip Townshend There is no Polish trickery here, douche bag. You just conveniently overlook the facts EVEN WITH what should be 20/20 hindsight.
If you want to exercise 20/20 hindsight then wish that Hitler was not such an asshole as to attack other European countries, including ones that were
A) Against the Soviet Union and B) Anti Semitic and willing to deport them.
Daniel Sienkiewicz
1 second ago
@Turnip Townshend And what is this J trickery of yours? “Turnip Townshend” ...you’ve got ONE subscriber. It’s a sock account with an avatar of Hitler’s idol, Frederick the Great Faggot. You obviously aim at divide and conquer of European ethnonationalisms. How kosher of you.
Turkish regime leader Recep Tayyip Erdogan said on Monday that his government had no intention of stopping the relentless westward flow of migrants toward continental Europe, warning that “millions” would soon be headed toward the EU.
“Since we have opened the borders, the number of refugees heading toward Europe has reached hundreds of thousands. This number will soon be in the millions,” Erdogan said today in Ankara during a televised speech, Greek daily newspaper Kathimerini reports.
“After we opened the doors, there were multiple calls saying ‘close the doors.”
“I told them ‘it’s done. It’s finished. The doors are now open. Now, you will have to take your share of the burden’,” he said.
Late Sunday night, Turkish interior minister Süleyman Soylu said that 100,577 migrants had left Turkey through Erdine, at the border with Greece.
Despite the regime leader and his interior minister’s claims that hundreds of thousands of migrants are already amassed at the Greek border, figures from the International Organization for Migration suggest that these figures are vastly inflated.
According to the IOM, more than 13,000 migrants have now arrived at the Turkish-Greek border.
Earlier today, Voice of Europe reported that the Greek government has announced that it is preparing itself for 150,000 migrant invaders to try and reach its various islands in the Eastern Aegean Sea. Over 1000 migrants have already slipped by Greece’s coastguard and have managed to land on Greek islands in the Eastern Aegean.
Arthur Lyons
@ALyonsvi
Individual citizens are going to have to stand up and fight against this invasion. twitter.com/AlexLeroy90/status
Alex
@AlexLeroy90
Des grecs empêchent l’invasion des migrants islamistes envoyés par Erdogan Dégagez ! Nous sommes chrétiens ici !
video
Clashes escalate between Greek army and migrants on Turkish border
Over the weekend, Greece’s Deputy Defense Minister Alkiviadis Stefanis announced over that the migrants who’ve gathered at Greece’s border – most of whom are fighting-age men – made around 9,600 unsuccessful attempts to breach the border illegally.
The migrant invaders set fires and attacked Greek security forces, shouting things like: “The dogs can’t see us anymore. Burn them. Allahu Akbar.”
Imam of Peace
@Imamofpeace
“The dogs can’t see us anymore. Burn them. Allahu Akbar”
Turkey: Migrants cut through barbed wire at Greek border
“It will be difficult to stop the massive flow of people who have set out on their journey. That is why we can expect an increase in pressure in the coming days — even in the event that Turkish authorities act to prevent people from crossing the border,” an internal Frontex report said.
Posted by DanielS on Tuesday, 18 February 2020 07:32.
DAILYKENN.com—Had a 29-year-old black woman been shot to death by her white boyfriend, it would likely be national news. Had the victim been white and the suspect black, the story would be limited to local media and race would not be mentioned.
Cassia Renee Duval, 29, was seven months pregnant when she was found shot to death. Her unborn baby was also killed. Arrested is James Isaac Jones Jr. 33. Jones and Duval lived together, reports say.
Why was she killed? We can only speculate. Is it because she mated with an individual with low impulse control, low intelligence, low affective empathy, and psychopathic tendencies? We can’t say for certain.
Ellen Brown is an attorney, chairman of the Public Banking Institute; author of twelve books including “Web of Debt” and “The Public Bank Solution.”
Turkish president Erdogan has previously 