Do you think that the “monetary
stimulus” could be of any use amid the tremendous deficiencies in health
systems, medicines, food, energy, in societies attacked by COVID 19 and the
recession? Will it even serve to rescue the unpresentable hedge funds?
No …. as evidenced by the case of
the USA, which has flooded the markets with “quantitative issue” to overcome a
40% drop in the Stock Market, despite which the markets do not recover to
previous levels, while interbank loans and corporate debt continues to plummet.
This leads us to review the
“economic” axioms that have led us to the current financial crisis: the
monetarist cult, by Milton Friedman, including the theoretical impostor called Keynes; They assume that money is synonymous
with wealth. This contractive axiom, closely related to Malthusianism, assumes
that the size of the population must "fit" with the
"available" resources, and not the other way around. This
"golden calf" is inspiring decisions for all governments except China
and Russia, turning to the "market" for the most serious decisions
In contrast to this, to close its
health, energy and food gap, the world needs a public credit system, as the
United States did, with the first and second National Banks of Alexander
Hamilton (1791 to 1836), the issuance of greenback banknotes (1862 - 1865)
by Lincoln and the FDRoosevelt Financial Reconstruction Commission, CFR. The
idea: the issuance of currency constitutes a credit from society to the State,
and this credit is directed to productive investments, especially
infrastructure. The State directs the credit. This policy is one of the 4
Laws to save the nations, proposed by the North American economist LaRouche.
Today, public credit is
misdirected exclusively to banks, at extremely low rates, between 0 and 2%, and
these recharge leonist interests to companies and families, and digest it to
financial speculation
What do you think, citizen? What
do you choose for your country: monetarism or directed public credit?
04/08/20
No hay comentarios:
Publicar un comentario