Mitchell’s laws: The more budgets are cut and taxes inceased,
the weaker an economy becomes. To survive long term, a
monetarily non-sovereign government must have a positive balance
of payments. Austerity = poverty and leads to civil disorder.
Those, who do not understand the differences between Monetary
Sovereignty and monetary non-sovereignty, do not understand
economics. The biggest problem in economics may be that
“everyone knows” and at the same time, very few people know. For
instance: Almost everyone knows what a dollar is. Yet, almost no
one knows what a dollar is. Isn’t that strange? Imagine that you
have a safe deposit box, a checking account and a savings
account, all at your local bank. You go to the bank and you say,
“I want to see my safe deposit box and everything in it.” So
they take you to the vault room and show you your box. You can
see your box, reach out and touch your box, and you can open
your box to see the papers and valuables you keep in it. Your
box is a physical reality. Then you s