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America MUST now pay Reparations! Why?

August 19, 2014

Economic justice demands that ‘value’ be given for ‘value’. America has not done this since the closing of the Gold Window on August 15, 1971. America has traded for some $22 trillion of goods and services where ‘value’ was not given (add up our trade deficits since 1971). This injustice must now be realized and America must now give an equivalent return (in terms of labor and barter) to all our trading partners who have not received ‘value’ for ‘value’. In fact, America (if they desire to be fair) should give double back in terms of ‘value’ for all the wealth that we have unfairly taken from the world community (unjustly and deceptively). Justice demands that we do this! And we must do this (not in our ‘funny money’ dollar…now a cyber nothing) but in terms of real physical wealth and/or services which our counterparties accept. We can start with China as they have accumulated most of our ‘funny money’ and given us real physical wealth from the labor of their citizens. Go into Wal-Mart to witness all the products provided to American consumers by our Chinese friends!

REPARATIONS DEFINED:  the making of amends for a wrong one has done, by paying money (or its equivalent) to those who have been wronged. Germany was forced to pay reparations after WW I. America must now think of paying reparations going forward.

Wal-mart stores are loaded with products from China. What is America giving in return? Do we give ‘value’ for ‘value’? Are you aware that we now create our trading dollar by ‘typing’ numbers into cyberspace?

In the very near future we need to think about our past economic/monetary behavior and recognize that we have not been just and fair with our counterparties. Funny money (our fiat paper units and our current cyber dollars) are not WEALTH. This unit of nothing can not qualify as a stable currency (as it is not backed by any real ‘value’). America now merely ‘types’ numbers into the computer screen and assumes that this ‘funny money’ can be used as an equivalent ‘value’ to what we receive in real physical products (goods) from foreigners. This is unjust and we should all recognize that America must now pay REPARATIONS (using real products and our physical labor) to the world community (especially China, Japan, Germany, South Korea, Saudi Arabia, and all those who have a trade surplus with America). This trade surplus is now measured with a ‘valueless’ cyber currency which will soon crash and burn. America has been the BANKER for the world as our currency is the RESERVE CURRENCY for most trade settlements.

Since abandoning the Gold Exchange Agreement in 1971, America has consumed much more than it has given to others! Our ‘funny money’ dollar has acted as our proxy for ‘value’…but what is a ‘dollar’ when it is perceived to be ‘valueless’?

America, if just and fair, must now think in terms of paying back all the WEALTH unfairly consumed from the labor and resources of our counterparties. The economic world works in terms of ‘value’ for ‘value’. This has been Capitalism from day one. The bottom line is our measure of ‘value’ for the ‘value’ from our counterparty. Money works as this proxy for ‘value’ when the currency unit is backed by some THING (perceived to have ‘value’). The THING which the world community has viewed as a THING of ‘value’ when a barter item was not exchanged is GOLD. America started with some 740 million ounces of GOLD (backing our dollar) in 1944-46. Today, all our GOLD is gone (sold, exchanged, or leased into the markets). We now trade with our ‘funny money’ dollar which we TYPE into cyberspace (our computers) and send via pulses of light to our counterparties. These accumulations of virtual ‘numbers can not be viewed as a THING of ‘value’. They are imaginary and NOTHING! Will America recognize this injustice? Will America deal with our counterparties fairly going forward? This is the ISSUE!

Economic JUSTICE now demands that America think in terms of paying ‘reparations’ to those who did not receive ‘value’ for ‘value’ since we abandoned the Gold Exchange Standard on August 15, 1971. Today’s cyber dollar payments (created by our Fed out-of-nothing) compounds the injustice for Americans when it comes to ‘value’ for ‘value’ exchanges with our foreign counterparties!

Anyone with any type of mathematical understanding recognizes that our current economic system is unsound and about to CRASH. The accumulation of DEBT has reached levels which can not be sustained or justified. All of America’s DEBT represents accumulations of WEALTH which has already been consumed. We can not repay our debtors with additional debt that has zero ‘value’ and expect that this is fair for our counterparties. Our military ‘might’ creates FEAR in the mind’s of many counterparties, but this philosophy of Might makes Right can not continue much longer. Deception, fear, and intimidation by American policymakers has reached its threshold level. Go look at our continuing TRADE DEFICITS since 1971 and think for yourself. Can this Ponzi scheme continue with no repercussions or consequences? I don’t think so! Get ready for some repayment (reparations) to those who deserve ‘value’ for ‘value’. I am: https://kingdomecon.wordpress.com

3 Comments leave one →
  1. Marianne Ferrari permalink
    August 20, 2014 11:12 am

    I find myself confused by today’s column. If China has received useless currency from us, then why is China referred to as holding trillions of dollars? And why is China able to use those worthless dollars to buy so many things, such as copper mines and precious trace mineral sources, all over the world?

    I feel that you have dived off some deep end, to make a point, which failed to reach mel And that statement is a testament to the faith that I have in your rational mind, but also in some concern that I feel, as–day to day-you seem to be reaching new heights of strange irrationality. So I AM confused, but still believe in you, but not as fully as previously. You are losing me, Don, and that’s not something that I wanted, or looked forward to.

    I sensed, from day one, that I had found a person of superb intelligence who cares as much as I do about what’s going on, and who possesses specialized knowledge that I do not. But, now, you are philosophically losing me and leaving me concerned and dismayed, and I’d appreciate some clarification, if that is possible.

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    • August 20, 2014 11:46 am

      Marianne: Your focus is on the wrong party. Don’t focus on China. Focus on what we are doing and have done. America has raped the world of resources to the tune of some $22 trillion since going off the gold standard. We have used the priviledge of being Banker for the planet (via our reserve currency status) to daily live much beyond our entitlement as an equal parter within the Nations. Look at what we have done since 1971. We have continually spent much more than we have produced. We have consumed (unfairly) much more of the world’s resources than we are entitled to (based on ‘value’ for ‘value’ exchanges). America composes some 4-5% of the worlds population yet we have consumed some 20-30% of the world’s resources (every year). Are we entitled to consume without fairly producing equivalent wealth? When we create our ‘dollar’ OUT OF NOTHING this is deception at it’s worst. What is a ‘dollar’ that is not backed my a ‘thing’ (perceived to have ‘value’)? Do you know that our ‘dollar’ is ‘valueless’ and composed of ‘nothing’. Our ‘dollar’ is not wealth (food, clothing, shelter, or transportation). When we consume (from China and other countries) resources which they produce via their labor and intellect, we are obliged to offer these counterparties ‘equal’ exchanges (wealth). Are you aware of this? Wealth is physical and material and comes from the earth (land). Are you aware of this? Wealth is not a symbol $ and a number 1.00 which we create from our MIND. Are you aware of this? A ‘dollar’ which has no definition/backing in terms of a ‘thing’ (perceived to have value) is an ‘illusion’. Are you aware ot this? What you are missing is your focus. When I receive from you a product of your effort and intellect (say bread, eggs, milk), should I give you a mere symbol $ in return (which I type into your computer screen)? Do you comprehend what America is doing to their counterparties who are filling our stores (Wal-mart, Sears, Dollar, Kroger, etc.) with real units of physical wealth…and where we merely send (give) them imaginary $ in return? Think about what America is doing to others (our counterparties) not what China is doing by using some prior $ for today. America has consumed some $22 trillion (probably double this if adjusted for inflation) of goods and given NOTHING in return. Think! Hope this helps, Marianne. Let me know if you understand these words! D

      On Wed, Aug 20, 2014 at 11:12 AM, Kingdom Economics – The Future Is Now wrote:

      >

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    • August 20, 2014 12:03 pm

      Marianne: Your focus is on the wrong party. Don’t focus on China. Focus on what we are doing and have done. America has raped the world of resources to the tune of some $22 trillion since going off the gold standard. We have used the priviledge of being Banker for the planet (via our reserve currency status) to daily live much beyond our entitlement as an equal parter within the Nations. Look at what we have done since 1971. We have continually spent much more than we have produced. We have consumed (unfairly) much more of the world’s resources than we are entitled to (based on ‘value’ for ‘value’ exchanges). America composes some 4-5% of the worlds population yet we have consumed some 20-30% of the world’s resources (every year). Are we entitled to consume without fairly producing equivalent wealth? When we create our ‘dollar’ OUT OF NOTHING this is deception at it’s worst. What is a ‘dollar’ that is not backed my a ‘thing’ (perceived to have ‘value’)? Do you know that our ‘dollar’ is ‘valueless’ and composed of ‘nothing’. Our ‘dollar’ is not wealth (food, clothing, shelter, or transportation). When we consume (from China and other countries) resources which they produce via their labor and intellect, we are obliged to offer these counterparties ‘equal’ exchanges (wealth). Are you aware of this? Wealth is physical and material and comes from the earth (land). Are you aware of this? Wealth is not a symbol $ and a number 1.00 which we create from our MIND. Are you aware of this? A ‘dollar’ which has no definition/backing in terms of a ‘thing’ (perceived to have value) is an ‘illusion’. Are you aware ot this? What you are missing is your focus. When I receive from you a product of your effort and intellect (say bread, eggs, milk), should I give you a mere symbol $ in return (which I type into your computer screen)? Do you comprehend what America is doing to their counterparties who are filling our stores (Wal-mart, Sears, Dollar, Kroger, etc.) with real units of physical wealth…and where we merely send (give) them imaginary $ in return? Think about what America is doing to others (our counterparties) not what China is doing by using some prior $ for today. America has consumed some $22 trillion (probably double this if adjusted for inflation) of goods and given NOTHING in return. Think! Hope this helps, Marianne. Let me know if you understand these words! D

      Like

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