Comments for The Basic Income Guarantee and Monetary Reform: A Tale of Two Ideas at http://atlanticfreepress.com , comment 1 to 27 out of 20 comments http://atlanticfreepress.com Thu, 09 Feb 2012 18:38:47 +0100 FeedCreator 1.7.3 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-8279 Campaigning for BIG is part of the battle of ideas for basic justice through monetary reform. The proposal has the strength of exposing the "owners'" attempt to deny the [i]unconditional[/i] right to life, which, in a mature capitalist society, means an unconditional right to a living income. [b]NB[/b] "Mature" above intends to designate a society where most (90 %) of the wealth is created by inanimate "energy slaves" and sophisticated production systems. The "capitalist disease" is the systems inability to [i]distribute[/i] all the wealth being generated. Recessions are the [i]recurring symptoms[/i] of this systemic disease. - Janos Abel Mon, 20 Jul 2009 19:18:17 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-7916 Richard is a smart guy, knows a lot, was also a whistleblower (while at NASA) and hence more courageous than you or I, and while I don't know him personally, I have read a lot of his writings to know that he has worked out a problem to his satisfaction in a nice tight sandbox. He has not addressed the question of how to break out of any sandbox, let alone his prefered one. Outside the sandbox sit the banksters with their state machinary, laws, politicians, economists, lobbyists, and mega-bucks to spend, all in their infinte pockets. Please see the detailed analysis of why, while Richard's sandbox may feel nice to some, and certainly has merit enough to warrant deeper study if a new proposal for a monetary systems is ever genuinely called for by the ruling elite and they really want something to be given them as a proposal by ordinary peoples without a penny to their name (that's us plebeians) for their consideration, there are a hundred and ten competing proposals, all with one thing in common: Who will bell the cat? http://print-humanbeingsfirst..com/2008/10/monetary-reform-who-will-bell-thecat.html Perhaps the following words of deep philosophical as well as pragmatic frustration uttered by Aldous Huxley are more meaningful than mine. In a conversation with Herman Harvey, to his question: What does one do?, Huxley replied: Aldous Huxley: [b]"Well this is the real problem. Nothing is easier than to formulate high ideals, but few things are more difficult than to discover the means for by those ideals might be implemented, and the categorical imperatives which spring from them can be a pain. This is the real problem. I mean one has to dream, but one has to dream in a pragmatic way to consider how... Merely preaching to people doesn't have much effect, people have been preaching for an awefully long time and we are still pretty much where we were. "[/b] -- Sum and Substance with Aldous Huxley, minute 2:38, pt 2, http://www.huxley.net/ah/huxley-interview.html Perhaps 'How to bell the cat' might have been a better title of my essay! But "Who" is more pertinent because it pragmatically seeks one with power, immense and equivalent power to match that of the international banksters who orchestrated 1913 - for power only respects power, not platitudes. Once that power exists, "How" becomes as easy as kicking out the money changers from the temple. As Caroll Quigley noted in Tragedy and Hope - and that was in 1966 when he wrote it - it was already all but a done deal. Today I would say, it is a fait accompli: http://print-humanbeingsfirst.blogspot.com/2009/02/why-not-be-anostrich-feb132009.html Only the following can avert it - and that's not in the cards: http://www.youtube.com/watch?v=LU8DDYz68kM And thank you Richard for a nice paper design. If you were an engineer without a job in an inimical economy with no venture capital - how would you go about productizing your idea? Zahir Ebrahim, Project Humanbeingsfirst.org - Project Humanbeingsfirst.org Wed, 06 May 2009 07:45:38 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-7898 [quote][i]You cannot guarantee a minimum income for anyone, without stealing from someone else. There is no other way to do it. After you have given somebody some of your own money, merely in order to make their income better, then we can talk. [/i][/quote] This reader sums up the elementary mistake critics of BIG make. It relates to the question of how BIG is financed (two other main objections are a) moral---it will be bad for people to "get something for nothing", b) political---it will give too much freedom to the individual and S/he will turn to mischief. BIG is [b]not[/b] financed from taxes levied on earnings (although lot of advocates do make this bad mistake---are they just ignorant or are in the camp to deliberately confuse this vital issue?). There are several sources which could provide funding with moral and economic legitimacy. These funds are at the moment syphoned off by private interests as unearned income. But this is not the place to go into that. Let us just remark that the fundamental flaw of capitalism is its inability to [b]distribute[/b] all the wealth (goods and services) it [b]creates[/b] and wants to create. Anyone who really wants to be informed about the sound philosophical, theoretical, moral and economic underpinnings of this enabling proposal can find it in the extensive literature that exists. There is even a worked functioning example in Alaska (https://www.pfd.state.ak.us/). However, information about BIG is shunned and sidelined by mainstream interests who want to maintain social distributive arrangements broadly as they are. - Janos Abel Sun, 03 May 2009 17:58:25 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-7301 In respect to tis article - I believed that a massive creation of new money by the Bank of Canada would free enterprise, create jobs and wealth, and prevent communism and dictatorship. The creation of new money would enable a Global Party government to pay every man, woman and child $1,500 to $3,000 per month for life, eliminate the need for taxes, and provide sufficient capital to increase spending for "common good" projects, such as schools, health and welfare, etc., by fifty percent. In addition to unleashing tremendous economic forces, this would eliminate the "hierarchy of money" and permit the "self-actualization" of all people. The party’s monetary reform proposals were similar to those of the theory of social credit expounded by previous Canadian political parties, including the Social Credit Party of Canada. The party appears to have ceased functioning after his death. - Michelle Slota Daughter to deceased Edward John Slota 2005 Sun, 18 Jan 2009 09:40:10 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-6350 I can say that basic income has also had a recent intellectual revival in Germany. Older business tycons and part of the intellectual scene, leftleaning naturally, write on the subject. In fact many of the scandinavian countries have defacto basic income with housing and basic needs paid and a minimum base check. Currently though being devaluated inflation. Effective tax rate being 48-70% (!) makes a high price tag though. Still a large majority say they pay their taxes happily though theres a lot of wining. Rasmus www.inc-berlin.com - R.T.Hansen Tue, 30 Sep 2008 19:44:09 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-5827 Having researched this topic on and off since November 2006, I too, have come to the conclusion that a National Dividend is a the most sensible way out of the current financial fiasco. It is not as Major Douglas stated socialism and it is taking from one person and giving to another, as some ill educated buffoon has written, in the form of an income tax, socialism is an iron rod of brutal subordination of the individual and will, as hayek stated, only lead to a dictatorship and the eventual collpase of society into regimented feudalist social environment. Social Credit on the other hand creates a system where by the individual is placed first, it is the automatic right to use capital without the burden of it chained to the balance sheet of some banker(creative-accountant), I suggest people read Major Douglas's Social Credit at (- http://www.mondopolitico.com/library/socialcredit/socialcredit.htm -), it is a fascinating read with some incredible light bulb moments. Also I don't think we can talk about monetary reform without talking about political, constitutional, reform and maybe even legal reform, as Ellen Brown stated in her Web of Debt book. - Adam Smith Fri, 08 Aug 2008 00:52:14 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-5359 "But with the passage of the Federal Reserve Act of 1913 the door of monetary progressive politics was slammed shut and has remained tightly fastened for almost a century. Progressives everywhere should be prying that door open again if not resolutely kicking it down." Bingo...until we can reverse what happened in 1913 and take back control over OUR own money, we will all be second class citizens to a corrupt government and the elite class. This is a fact that only 10% of the population, if even that, understands. The Fed is neither federal, nor is it a reserve. Folks, you please research this and spread the word! Let's take our country back! - Guest Sat, 21 Jun 2008 23:09:19 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-4660 and as long as the US Mint is printing dollars (or stamping them) for direct payment by the government for services, etc., why doesn't some financial braniac figure out how much each citizen would require for housing, healthcare, etc. and let's just mail them the dollar coins for this amount and close all the government welfare offices, homeless shelters, social security offices, IRS...not that would REALLY make for a smaller government! Surely the populace wouldn't spend thier Guaranteed Income on dope, beer, and plasma TV's insteard of basic need? Hey, does this idea make me a Liberal (for handing out money) or a Neocon (for making government smaller)? That's the real problem hurting my small brain.... - BobbiO Wed, 05 Mar 2008 02:38:41 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-4483 It is far from over for the DELEMA of US citizen!!!The creeeture human has yet to experiance citizen!! The citizen has yet to have enjoyed a functional BALLOT and 5 curencey systems are valid in all the nations of earth they are all in receivership now. It autobe a UN proclamation all nations have 5 yrs to acheive 5 curenceys if you dont you lose your flag and boarder!!! 4 of the curenceys based of dedication!!! NONE OF THE ABOVE RUN ON ALL BOLLOT CANDIDATE COLUMMS!!!!!!!!!Humans as citizens stand now and insert INOVATED AND INOVATING IDEAS THAT BENIFIT THOSE BORN 600 GENERATIONS FROM NOW!!! - norman woodstockspalding Mon, 11 Feb 2008 11:01:36 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-4279 Richard C Cook is certainly on the right track. See these URLs. http://ustaxreform.us/kwod.htm http://ustaxreform.us/2nd-bill.htm Basic Income or an absolute entitlement to a grubstake loan for self-employment can do what Cook and all of us know is necessary. The money to pay for such liquidity can come from the FED as it did in WWII by gov't borrowing from the FED with all interest going BACK to the gov't FROM the gov't and the capital amount of the special non-negotiable bonds also returning to the gov't in due course. The FED kept none of the "overdraft loans" it made to government to pay for the arsenal of democracy. There are a dozen ways to skin this cat. BUT THE CAT MUST BE DEFINED as production of all our needs PLUS creation of debt-free money spent into circulation for the BASIC NEEDS of those with less purchasing power than our minimum standard of living would set. - John Gelles Wed, 23 Jan 2008 05:16:52 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-3858 Richard, I am far from being an economist, but as a retail store manager in small town U.S.A have began to see outsourcing of jobs hit my area very hard. I agree that if we all do not push for our elected officials to change the way this credit driven economy operates quickly, we as a nation will suffer greatly and our sovereigntry is at serious risk. Very inspiring articles and I can't wait to read more! - Jason Tipton Wed, 12 Dec 2007 06:21:12 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2779 when will this happennn - a guest Sat, 18 Aug 2007 08:22:19 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2630 Richard, i like your concept and articles very much. Thanks for sharing. Quah - a guest Mon, 30 Jul 2007 14:49:02 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2398 When Ronald Reagan won the election and defeated Carter, I cried like a baby. My husband laughed at me about crying about such a silly thing as politics; but I could see where things were going to go for our nation, and, unfortunately, I was right to cry for my country. When the Republicans took Congress in the 1990s, I felt we had just about reached rock bottom, as the electorate was obviously so ignorant as to not realize the reason the Republicans had not controlled Congress for 40 years--economic and social reasons! The Democrats have behaved shamefully, becoming Republican lite on economic issues and sometimes outdoing the Republicans!! Perhaps we have at last reached rock bottom and people will begin to demand a place at the table in this land of plenty which now excludes so many. I haven't heard anyone seriously talk about a basic guaranteed income since the 1970s when I read books by Robert Theobald and others. With this illegal war, I was just about totally despondent. This web site gives me hope. I will try to read the books you suggest and educate myself further, and I will mark this site as a favorite and mention it on progressive sites whenever I blog. Thank you. - a guest Sun, 24 Jun 2007 03:23:13 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2334 The only use for the economy is to produce and distribute goods and services to satisfy human physical-biological necessities and enhancements. Money itself has absolutely no use in this endeavor. - a guest Thu, 14 Jun 2007 15:23:22 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2079 Stan: This is the only realistic comment from a quest above: "...Now, a social credit will never ever be allowed by these bastard bankers..." Why? In feudalism an image is everything. The only time anyone shows the weakness is after leaving the system as Richard C. Cook did. The bankers won’t give one dollar for free to their slaves...only charity to dying from hunger and this is only with big noisy campaigns to get part (or all) of it from general public. Did you watch the American Idol? That is a prime example of how far bankers could allow to go. May Day is May 1 and is in memory of an American workers blood bath called Haymarket Riot. Only after a similar event bankers might give an inch - a guest Thu, 03 May 2007 16:02:24 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2076 Thanks for the comments from readers on my article on "A Tale of Two Ideas." It seems at least some are understanding what I am trying to say. For more information, please check out this article I just published ON "An Emergency Program of Monetary Reform for the United States": http://www.stwr.net/content/view/1828/37/ The comment that was made on the New Greenback would be the next step after National Credit. It would be the "New Greenback" that one commentor describes. I believe the first step toward this would be a national self-capitalized infrastructure bank. For more on this, please take a look at an article I posted about three years ago on the website of the American Monetary Institute under the pen name of Gracchus Jones. Here is the link: http://www.monetary.org/gracchusjones.html - a guest Thu, 03 May 2007 13:48:51 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2073 The BIG concept, if not done wrong, would start a wonderful reform of our monetary system. It might even be salable to the public, the voter! For it to work, as you know, the United States Treasury must directly issue paper money imprinted with and legally defined as Legal Tender. [b]It must not be borrowed[/b] in any way from any bank including the Federal Reserve, but must be simply printed up and pushed into circulation just like the "Greenback" was. If it enters circulation as a Basic Income Guarantee that is fine. It should also be used for all Federal payments for everything the U.S. Government pays for, just like the "Greenback" was. All U.S. Government debt should be paid off immediately with these Treasury Bills, just like they were with the "Greenback", only even more so. BIG done right will not increase the National Debt, but will simply pay it off, and it will replace income tax and other taxes as a revenue source of the government. Of course it will not incur interest since it is not borrowed from a bank that also would have to "create it from thin air". [b]It does not have to be paid back since it is not borrowed. [/b] Any inflation that might appear at first will be a minor "cost" compared to what we have already. We'll just consider the threat of inflation to be a "defense tactic" of the bank. (A scare tactic. But we are already on to them. It doesn't scare us. We can stop them from funding wars this way. Wars do scare us.) As mentioned in Richard's article, Lincoln's "Greenback" worked. That is what we are talking about here. The "New Greenback". [b]Key:[/b] Legal Tender issued directly by the Federal Government via the U.S. Treasury, without bank involvement. Shall we continue? The New Greenback will fund education, transportation, utility infrastructure, and other public needs without borrowing at interest. Jobs will become much more plentiful which will push up real earnings, which will allow more parents to be home with the kids, which will improve education and reduce crime, addictions, and other social ills. Since it will slash the tax and debt burdens of Americans, it will ease the stress levels of people resulting in less broken families, less health problems, and happier constituents. Politician! Did you hear that part? I'm sure you already knew of all that. Your turn. Finish the picture.... - a guest Thu, 03 May 2007 07:52:11 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-2003 Issuing each citizen an annual dividend share in their country seems like a sound investment in the nation's human resources. It's too bad that so many people respond to the idea with kneejerk terror of "socialism." I suggest that we rename the Basic Income Guarantee more accurately as as "Guaranteed Working Capital." - a guest Sat, 28 Apr 2007 03:22:24 +0100 http://atlanticfreepress.com/news/1/1232-the-basic-income-guarantee-and-monetary-reform-a-tale-of-two-ideas.html#comment-1995 A "Federal Reserve Note" is not a [url=http://ocii.com/~dpwozney/usa.htm#Dollar]U.S.A. dollar[/url]. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold. - a guest Fri, 27 Apr 2007 10:20:55 +0100