Myths v Reality – Milton Friedman


Universal Basic Income


The idea of some Universal Basic Income has been around for a long time. Here is Milton Friedman on his proposal of a Negative Income Tax. There will always be welfare for there are people who cannot work for some disability and others who prefer not to work and game the system. Even programs where the state directly pays for the food rather than food stamps or restricts the food stamps to certain products, the ingenuity of some people cannot be underestimated. They will sell the products they get for cash. There are signs on the streets buying needles and strips from people who are diabetic and get them for free from the state. There are instances where a woman has a child and tells the state she has no idea who the father is yet a night he shows up and leaves when a case worker is due to arrive. These are abuses of the system that no matter what we try to do, there will be people who figure out how to work the system. So there will NEVER be 100% compliance no matter what system we devise.

Manipulating the World Economy will be also available in Russian, German, and Chinese


We are looking at having it Translated into several languages. We hope this English version will be available by October in hardbound. I really hope this will help change the debate for what lies at stake is the future for us, but more so our posterity.

Russian

манипулируя мировой экономикой

German

Manipulation der Weltwirtschaft

Chinese

操縱世界經濟

Manipulating the World Economy


A lot of questions have been pouring in from how much to will there be a kindle version. I am not sure of the cost yet. That depends on the printer. It will be full color and extensively illustrated. It covers everything you wanted to know about what is going on with the central banks. There will be a documentary film next year on this subject matter.

The price will be for general circulation worldwide. As soon as it is available, we will let everyone know.

Is the Fed the Only Means of Creating Money?


QUESTION: I am confused. Is it true that only the Federal Reserve can create money and not the Treasury?

HB

ANSWER: It all depends upon your definition of money. If you are asking about paper currency, then the answer is yes. If you are speaking of “elastic money,” which really is just book-entries, then that is also truly confined to the Federal Reserve. If you are including in your definition of money all government borrowings, then that is the prerogative of the Treasury. Now, if you are talking about leveraged book-entries where a bank is lending out money so two accounts will show an entry for the same money or close to it, then that is private banking lending. The definition is fluid. It depends greatly upon what you are calling money.