In an article on Huffington Post
noted Monetary reformer, Stephen Zarlenga, decimates the oil markets as a
speculator's playing field, having nothing to do with "price
discovery." This is something I've written about in this space
before, but it's great to see a man of his stature saying the same thing.
I do, however, disagree with his regulation-approach. As you know, we go
for fundamental reform here, and more regulations, on top of the ones that
haven't worked so far, won't cut it. Instead, as I said in my comment to
whom I've met several times,
diagnoses the problem
but fails to provide the right antidote. The solution is not more
regulation, which as we've seen, is just bypassed by smart speculators
anyway, but to institute a tax on all raw forms (that is, before they
are mined, refined distributed
and sold) of natural resources. This Single Tax on location and natural
resources, espoused, as he knows, by Henry George, would end
speculation by taxing away the incentive, but encourage development,
entrepreneurship, productivity by untaxing those. It would be fair,
just, equitable, progressive (the more you use, the more you pay),
environmentally stable, economically sustainable (no more booms and
busts from Land speculation) etc.
AMA is a step in the right direction, though its centralization premise
worries me as it does the MMT folks, who have talked to Zarlenga but
failed to move him their way, but more importantly, we need the Single
From the darkest
recesses (not by his own choosing, no doubt), of the economic reform movement
comes Walter Burien, virtually single-handedly analyzing all 184,000 Comprehensive Annual Financial Reports, and concluding:
Per understanding CAFRs, people have
been intentionally kept in the
dark so long they forget the basics:
"1. A "Budget Report" is a selective funding of x accounts from x
resources (set up to be primarily funded with taxation and done so "for
2. An "Annual
Financial Report" is the showing of "all" income: Investment; taxation;
and Enterprise, plus the "accumulated wealth over decades. Budgets are
for the year, an AFR is for it all since creation of the entity.
There is a big difference between the two. A correct analogy would be:
The budget to operate your house vs. your statement of net worth.
The public has been played with the biggest shell game of selective
presentation there is allowing for massive fortunes to be made by the
inside players over the last several decades...
Every investment fund large and small is a power base. Where that money
is invested determines what company; real-estate venture, etc., is made
or broken. Thus in line with that, never a mention of the 184,000 AFRs
of the corresponding local governments..nor the many thousands of
specialty investment funds they contain. I note gov pension funds
facilitate the same. Paying employee benefits from the return on the
funds is an after thought for the government players.
The head communists back in the 30's and 40's said they could take
over America without firming a shot. The undercurrents of that statement
were that they could depend on the greed and opportunity of the
players to accomplish that goal and it did. US Collective government
since 2000 brings in more gross income than the entire gross income of
the population of the United States.
Taxation is rammed down the public's throat (1/3rd of the gross income)
and Investment / Enterprise income (2/3rd of the gross income) the
"silence is golden" rule is strictly enforced with the full symbiotic
cooperation of the syndicated media; controlled education; and both
political parties as applies over the last century."
Elsewhere on his
, Burien points
out that the trillions invested by the Federal Government
all over the world rise in market value
when the dollar weakens due to exchange rates. Still
composite totals of investment assets held internationally
by USA government is staggering. Between local and Federal government,
the total of liquid investment assets held Internationally is a
conservative sixty (60) Trillion dollars.
At other times, and other places on his labyrinthine
websites, I've seen him quote total assets of $110 Trillion (but,
who's counting? No really, who
is counting?). To go into Burien's world is to descend
into a Bizorro
of uber-conspiracies and upside-down economics: that is, the Government is
in money, not
broke, and what's bad
for ordinary people is good
for government investments.
tapped as a Tax Retirement Fund, says Burien, we could
forget about little steps like Welfare, since none of us would have to
work another day in our lives! Is this even theoretically possible?
Where does wealth come from if not from people working (somewhere) on
the resources of the Earth to produce the things people desire and that
have exchange value?
The bigger the conspiracy, the bigger the proof needed, and there is great need for more provers
if not more proof (you could literally spend weeks examining all his
links, and still not scratch the surface). We need a Kucinich to
sponsor a bill, or, earlier in the process, a team of recognized
mainstream auditors to really examine the CAFRs Burien and a handful of
others have. Until then, this author at least is left scratching his
head, wondering if the mini-conspiracies of disinformation are really
just distractions from the BIG LIE about the world's true areas of
least, investment wealth, not the same thing as true wealth).
Meanwhile, back in the world we call
real (but, which may be an economic fiction according to Burien)...