via Of Two Minds – The Status Quo is in trouble if the bottom 95% wake up to the asymmetric gains that are the only possible output of our hyper-financialized economy.
The core dynamic of the U.S. economy in this era is asymmetric gains: the gains in income, wealth and power are increasingly concentrated in the top slice of the economy and society, while the income, wealth and power of the majority stagnate or decline.
The Status Quo must paper over this widening gulf with threadbare narratives that no longer match reality: for example, we’re an ownership society. We sure are: the vast majority of the nation’s productive assets are owned by the top 5%.
Continue reading The U.S. Economy In Two Words: Asymmetric Gains
The Federal Reserve System website refers to the 1933 Emergency Bankruptcy as to the remedy to confiscation of Gold by making Federal Reserve Notes into “Legal Tender.” The nature of such a profound legal change -that of outlawing lawful money for the paper ponzi banker debt notes- is such that judges actually had to entirely establish a NEW body of law called Statutory Law in 1933 based on Uniform Commercial Code.
Statutory Law of 1933 is/was the administration of the bankruptcy of the United States Inc from 1933 which made “Fed Notes” into “legal tender.” The administration of the bankruptcy only needed to be established, which was had in 1938, and thus imposed across the US.
Continue reading Federal Reserve and Judge Cites Bad Sources in Supporting “Lawful Money” as “Legalized Tender”