Excerpt from The Economic Consequences of the Peace, written by John Maynard Keynes in 1919:

“Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency.  By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.  By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.  The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.

“Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become “profiteers,” who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat.  As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

“Lenin was certainly right.  There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.  The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

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This, without question, describes precisely the barbarism going on in America.

It is time for a ‘new beginning’ for our country.

“He who will not apply new remedies must expect new evils.” – Sir Francis Bacon

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4102 downloads)

Do hard-working, tax-paying U.S. citizens benefit from any of this Congressional pork-barrel insanity …?

Answer: No.

Does this type of ‘discretionary spending’ in any way help U.S. citizens to become more financially secure..” Or reduce the national debt..? Or promote economic liberty..?

Answer: No.

Are our Washington Democrats and Republicans doing anything to change course on this mindless spending..?

Answer: No.

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Where our tax dollars are going…

Monday, Jun 27, 2022 – By Adam Andrzejewski of Open The Books Substack

The ever-rising national debt just surpassed $30 trillion this year – at least $91,613 for every person in the U.S. So, just how much federal waste, silliness, weird or unnecessary spending are your tax dollars funding?

Delving into the trillions of dollars in annual spending, our auditors at OpenTheBooks.com, recently examined Washington’s discretionary spending—beyond such big-ticket items as health, welfare and defense.

We found staggering examples and highlighted some of the worst in our new oversight report, Where’s The Pork?

Dead people paid billions: 2.2 million deceased people received $3.6 billion in economic stimulus checks. The government asked for it back, but dead people are notoriously bad about paying up. The federal government is equally bad about clawing it back.

How did this happen? Well, the Internal Revenue Service (IRS) didn’t check the Social Security Administration’s “deceased persons” list. Why have a deceased persons list if you don’t check the list before cutting the check?

The Do Not Pay list–Got Paid: The Small Business Administration (SBA) doled out 57,000 Paycheck Protection Plan (PPP) forgivable loans to entities on the Do Not Pay list housed at Treasury. Again, why have a do not pay list if you are not going to check it. Cost to taxpayers? $3.6 billion.

We found that the federal government is literally gambling away hundreds of thousands of taxpayer dollars – on pigeons.

National Institutes of Health (NIH) doled out a $463,330 grant to researchers at Reed College (Portland, Oregon) to “create a token-based economy where pigeons are taught to gamble with slot machines.” The pigeons were given tokens, and could choose whether to spend, save or gamble them. No explanation in how the gambling habits of pigeon translate to humans.

Then, there are the crappy projects.

For example, the National Science Foundation gave a $556,584 grant that in-part funded a study of beasts pooping – yes, The Hydrodynamics of Defecation. Animal bowel movements were measured, studied, and documented, including the release of four very gross videos.

Nearly $7 million was spent on technology to film your butt – while you’re on the toilet. National Cancer Institute gave this grant to Sanford University, whose researchers admitted, “To fully reap the benefits of the smart toilet, users must make their peace with a camera that scans their anus.”

These grants defy imagination, however, there are many others.

Dr. Anthony Fauci’s Institute of Allergies and Infectious Diseases spent $478,188 in an attempt turn monkeys transgender, the National Science Foundation gave a $300,000 grant for a virtual reality penguin study and gave Harvard $75,000 grant to “blow lizards off trees with leaf blowers.”

Somehow, Congress still has their hidden slush fund for workplace disputes. First uncovered during the early days of the #MeToo movement, the Office of Congressional Workplace Rights paid $18.2 million since 1997 to settle 291 case of workplace disputes. It’s beyond time to open those books.

When flashing back to egregious spending examples in recent years, we uncovered:

In 2018, the U.S. Air Force spent $1,280 per “hot cup” to keep coffee warm for their fighter pilots. Then-Senate Judiciary Chairman Chuck Grassley asked the Air Force for an audit, which found it spent $300,000 on the expensive cups over three years. This waste was stopped.

In 2016, we found that Veterans Affairs spent $20 million on a high-end luxury art portfolio during a period when sick veterans were dying because the agency claimed a lack of budget to hire enough doctors. It was 27 foot Christmas trees costing $21,000; six-figure artwork; and $700,000 sculptures. The VA secretary apologized.

Since 2020, federal spending has been especially wasteful, as the political class used the Covid-19 pandemic as an excuse to spend wildly on anything and everything under the sun.

Musician and former presidential candidate Kanye West, who claims a net worth of $3.2 billion, took $2.4 million in coronavirus relief from the PPP for his clothing and sneaker company, Yeezy LLC.

And a legal loophole in the PPP was used by 125 defense firms with strong ties to the Communist Chinese Party to collect between $200 million and $400 million meant to help American small businesses.

It’s an open question whether or not Chinese hackers funded an entire year of China’s military budget ($206 billion) by stealing U.S. unemployment aid. Primarily Chinese and Russian hackers stole up to $400 billion. It’s the largest public fraud in U.S. history.

Read more here:   https://openthebooks.substack.com/p/just-how-much-federal-pork-and-waste

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The Leviticus 25 Plan is the most powerful economic acceleration plan in the world.

For the United States, it will generate $583 billion surpluses for each of the first five year of activation (2023-2027). It will pay for itself entirely over a 10-15 year period.

It will allow U.S. citizens to eliminate massive amounts of Household Debt and restore free market dynamics and economic liberty in America.

It will immeasurably strengthen the U.S. Dollar – and set America back on track for long-term economic growth and prosperity.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4099 downloads)

Hudson Castle Group, Inc. – Bloomberg  Nov 28, 2011 – Excerpts:

“Hudson Castle Group Inc., a firm started by former Lehman Brothers Holdings Inc. executives, sponsored three asset-backed commercial paper conduits — investment vehicles that bought financial assets and raised money by selling short-term bonds. Such conduits were among “shadow banks” that “contributed significantly to asset bubbles” by converting “opaque, risky, long-term assets into money-like and seemingly riskless short-term liabilities,” according to a July 2010 report by the Federal Reserve Bank of New York.

On a combined basis, Hudson Castle’s three conduits had as much as $16.2 billion of outstanding loans from the Fed’s Commercial Paper Funding Facility in March 2009. They included Belmont Funding LLC, Ebbets Funding LLC and Elysian Funding LLC.

Peak amount of debt on 3/31/2009: $16.2B

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Here we see ‘business as usual’ example of the Fed providing emergency funding to bailout a company that had “contributed significantly to asset bubbles” by converting “opaque, risky, long-term assets into money-like and seemingly riskless short-term liabilities.”

The Leviticus 25 Plan would provide direct access to liquidity for U.S. citizens – who had not “contributed significantly to asset bubbles” through “opaque, risky” carry-trade schemes.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4097 downloads)

Guggenheim Partners, LLC provides various forms of investment and financial services across the U.S., Europe and Asia.

Guggenheim ‘tapped’ some serious liquidity from the Federal Reserve during peak periods of the great financial crisis (2007-2010).

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Excerpts from: Bloomberg Nov 28, 2011:

As chief executive officer of Bear Stearns Cos. in 2008, Alan Schwartz tapped the Federal Reserve for as much as $30 billion of emergency cash to float the New York-based brokerage until it could be acquired by JPMorgan Chase & Co.

By June 2009, he was CEO of closely held Guggenheim Partners LLC, whose special purpose financing affiliates borrowed as much as $16.4 billion from the Fed’s Commercial Paper Funding Facility. Liberty Hampshire Co., a Guggenheim unit, sponsored asset-backed commercial paper conduits, which removed mortgage securities and other assets from companies’ balance sheets and provided cheap financing. Such conduits were among “shadow banks” that helped inflate pre-crisis asset bubbles, according to a July 2010 Federal Reserve Bank of New York report.

Peak Amount of Debt on 12/10/2008: $16.4B
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Guggenheim Partners, LLC received their Fed liquidity transfusions through Commercial Paper Funding Facility, one of the many credit facilities created by the Fed to rescue companies that had rolled the dice with leveraged speculation – and lost.

These Fed’s liquidity transfusions come with a price. They represent a ‘draw’ on the purchasing power of the future earnings of millions of U.S. citizens.

U.S. citizens should receive nothing less than that same direct access to liquidity – through a U.S. Citizens’ Credit Facility, from the Fed.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4095 downloads)

Delusion Reigns At The Eccles Building

ZeroHedge – Tyler Durden, Monday, May 02, 2022

Authored by Shanmuganathan “Shan” Nagasundaram via InternationalMan.com,

Excerpts:

Never in the history of the world has the financial well-being of so many been tied to the economic competence of so few.…

Make no mistake—we are in extreme bubble territories for the asset classes of equities, bonds (despite the recent routing, valuations are still very frothy—more on that later), and real estate. US GDP (gross domestic product) numbers these days are pretty much largely dependent on the reserve currency status and is just a pin prick away from a cascading collapse on multiple fronts. What lies ahead is sheer mayhem in the equities, bonds, and real estate markets, and consequently on the economy and currency markets as well.

A legitimate question at this point would be what has changed in the immediate past to convert what was an inevitable event to an imminent one?

First, the fundamentals of the US Economy have been deteriorating for at least two decades, and it was the apparent low consumer price inflation despite all of the monetary inflation that masked the disease. Economists, investors, and the general public have been mistaking the equity, real estate, and bond bubbles (which are a direct consequence of the monetary inflation) as indicative of a sustainable economy.

The March FOMC Meeting

Interested readers can read the complete FOMC minutes on the Federal Reserve website. We will just examine two aspects that are relevant to the current discussion.Why Is Quantitative Tightening IMPOSSIBLE?

Let me explain. I am not saying that the Fed cannot embark on QT (quantitative tightening). They can, they have in the past (in 2018 under Yellen, and this was prematurely abandoned within a year due to adverse market conditions), and they will probably again do so in May.

But they can NEVER take it through to the projected closure. They will have to abandon the attempt midway due to tightening liquidity conditions that would manifest in ways such as the junk bond markets freezing, repo crises, etc. What causes the reversal of the oncoming QT is impossible to speculate, but suffice it to say that some weak link in this domino chain will break.

For the same reasons that each round of QE (quantitative easing) was bigger than its previous version, each QT would be shorter as compared to the previous attempt. It is also a reasonable supposition at this point that this will be last (unsuccessful) attempt at QT and all that we will have after 2022 is only QE to infinity. Mises provides the perfect QE/QT analogy with that of a drug addict on an artificial high—the victim will require increasing doses overtime and the withdrawal symptoms from a higher level of dosage would be that much more severe and difficult to endure.

The Justification: QE is just a fancy way of stating inflation or monetization of deficits or buying assets that other investors / central banks will not buy, or at least not at the price at which it is offered. The US government has been running gigantic deficits to the tune of a few trillion dollars, and the US Fed has been buying up these treasury sales at pretty much “next-to-nothing” yields for the last decade. The pace has intensified over the years, as one can observe from the chart below.

Source: American Action Forum.

The deficit of the US government for 2022 would be to the tune of $3 trillion. If the US Fed, which has been the biggest buyer of Treasurys in the last few years, now becomes the second biggest seller (after the US Treasury, of course) who is going to be the buyer? Even assuming they can find a buyer, at what price can such transactions be effective?

The biggest buyers of these treasuries before the US Fed stepped in were the central banks of China, Russia and Saudi Arabia. It is doubtful that these buyers will return to the table for the foreseeable future. Not even the other “friendlier” central banks such as the Bank of Japan or the European Central Bank are going to step in, as they have their own inflation problems to deal with.

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America needs a powerhouse economic plan that will de-stress the system and set America back on track for long term stability and prosperity. This plan will need to:

(1) Generate massive new federal budget surpluses; (2) Eliminate trillions of dollars of debt for America’s hard-working, tax-paying middle-class families; (3) Re-ignite a powerful new economic growth cycle; (4) Solve the entitlement spending time-bomb; (5) Restore the long-term financial viability of the Medicare and Social Security Trust Funds; and help insulate the system from the dreadful effects of another major financial crisis.

That plan is loaded up and ready to launch – generating $583 billion surpluses over the course of the first five years of activation (2023-2027).

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4095 downloads)

Washington Democrats have another new race-centric subsidy plan.

Washington Republicans, once again ‘dead in the water’ – have no better alternative to present to American families…

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Fannie Mae’s New Racial Bias – WSJ

The government-sponsored housing giant embraces race-based subsidies.

June 13, 2022 – Excerpts:

It was probably inevitable that the Biden Administration would enlist housing giants Fannie Mae and Freddie Mac to advance its woke agenda, and now it has. Last week the government-sponsored enterprises released plans to promote housing “equity” that are chock-full of race-based subsidies.

Fannie and Freddie have been under federal conservatorship since Treasury rescued them during the housing meltdown with a $190 billion taxpayer bailout. The Federal Housing Finance Agency (FHFA) has since regulated their capital, liquidity and underwriting, as well as the mortgages they can acquire. Trump FHFA director Mark Calabria kept the monsters on a tight leash, but there was always a risk that a future Administration would ease up and politicize home lending again. That day has come.

In September the Biden FHFA announced it would require Fannie and Freddie to “prepare and implement three-year Equitable Housing Finance Plans that describe each Enterprise’s planned efforts to advance equity in housing finance.” Translation: They must find ways to boost minority homeownership no matter the risk for taxpayers.

Calling all of this mission creep is an understatement. The GSE equity plans would let the Administration spend billions of taxpayer dollars on housing without Congress appropriating a cent.

Freddie Mac’s equity plan also includes credit programs to address “systemic barriers” to housing for minorities but at least tries to camouflage its racial preferences. Fannie makes its subsidies for blacks explicit, but they don’t appear to extend to other racial groups such as Hispanics and Asians. Low-income white borrowers are also excluded.

These racially targeted subsidies are probably unconstitutional. Multiple federal courts have blocked a $3.8 billion Covid relief program to forgive loans for minority farmers. The Biden Administration may argue that a different legal standard applies to private companies like Fannie and Freddie, and that the credit programs are aimed at remedying past redlining.

But the GSEs are de facto state actors, and the Supreme Court held in Richmond v. Croson (1989) that governments may adopt racial set-asides only to remedy specific episodes of past discrimination that the government had a hand in. The GSE plans are supposedly intended to compensate for government-sanctioned redlining in the 1930s that Congress banned in 1968.

…… No economic good, and much social harm, will come from turning Fannie and Freddie into agents of progressive racial division.

_____________________________________________

America needs economic initiatives that provide equal opportunities for all Americans – and honor the sacred principle of equal justice under the law.

Washington Republicans again have nothing to put on the table – to transcend the politics and to ‘lift all ships.’

Main Street ‘ground level’ Republicans do have a plan, the most powerful economic acceleration plan on the face of the earth – one that treats all U.S. citizens equally, and provides a dynamic boost to home ownership opportunities and massive debt elimination for millions of American families.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2023 (4089 downloads)