On Economic Deceivers And Propagandists

Tyler Durden's picture

Submitted by Prometheus

Economic Deceivers And Propagandists

  • Bernanke, Ben   
  • Obama, Barack (plus economic team)
  • Bush, George W. (plus economic team)   
  • Romney, Mitt (plus economic team)
  • Clinton, Bill (plus economic team)   
  • Rubin, Robert
  • Cuomo, Andrew (plus economic team)   
  • Rubio, Marco (plus economic team)
  • Dimon, Jamie (as rep of TBTF banks)   
  • Ryan, Paul
  • Dudley, Bill   
  • Schumer, Chuck (as rep of TBTF banks)
  • Geithner, Tim   
  • Sulzberger Jr., Arthur
  • Greenspan, Alan   
  • Summers, Larry
  • Hubbard, Glenn   
  • Volcker, Paul
  • Krugman, Paul   
  • Wolf, Martin
  • Murdoch, Rupert   
  • Zoellick, Bob

(and many others)

Accusations of intentional deception by the representative list above (US only) are made consistent with the presumption that each on the list explicitly or implicitly holds one or more of the following views:

  • Fractionally-reserved banking systems, in which banks may legally issue unreserved credit to private sector borrowers and central banks may legally create new unreserved currency with which to purchase newly-issued public sector debt, is sustainable without ultimately destroying the purchasing power of that currency (through the necessary future administration of monetary inflation)
  • Nominal output expansion, even if engineered through further unreserved credit expansion, is always in the public interest
  • The spectrum of current public fiscal, monetary and bank regulatory policy debates are all-inclusive and comprehensive with regard to the potential structuring and execution of US economic policies, and are in the best interest of the majority of the US’s factors of production
  • Public monetary and bank regulatory policy debates should not be determined solely by considering long-term domestic economic issues, but should also include broader matters of state including shorter-term trade, fiscal and military considerations.

Endorsing or enacting policy assuming any of the above to be true strongly suggests the sponsorship of centrally managed economies and markets.

The purpose of the list is to expose current partisan debate as corrupt and off-point.

Economic policy makers across the political spectrum, including some commonly labeled “extreme” by more centrist politicians, are unwilling to acknowledge that fractionally reserved banking systems are the true source of the past generation’s credit build-up, the economic malaise it necessitated, the growing economic hardship it is creating, and the inescapability from deteriorating economic conditions through conventional policy means. The list challenges American policy makers to publicly identify and make illegal fractional-reserve banking, and further challenges them to lead the world in adopting sound money and credit practices that returns economic power to global economic actors following commercial rather than financial incentives.

To qualify for the representative list above, individuals must: 1) have a public profile; 2) have demonstrated explicit past or potential future influence over fiscal, monetary or bank regulatory policies; and 3) have the intellectual capacity to internalize and willingly choose to execute or endorse economic policies framed improperly to the public without attempting to correct public perception.