mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

Mathematically Perfected Economy™ FORUMS, DISCUSSION

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 Post subject: C-SPAN Bernanke's Sermon at Senate Banking Committee
PostPosted: 24 Feb 2009, 2:03 pm 

Joined: 29 Jan 2008, 6:06 pm
Posts: 731
The issue which has swept down the centuries & which will have to be fought sooner or later is The People vs. The Banks.”
- Lord Acton, British Historian, 1834 - 1902

Fed. Chairman Testifies on Monetary Policy

Federal Reserve Chairman Ben Bernanke delivered his semiannual report on the state of the economy, at a Senate Banking Committee Hearing. At the hearing, he said that the Federal Reserve is "Committed to using all available tools to stimulate economic activity and to improve financial markets".

February 24, 2009
Washington, DC
3:hr 19:min

Bernanke starts his sermon & confession on 10th minute into the video.

whorunsgov.com wrote:
Bernanke has at least one more year to make his mark on the economy; his term as Fed chairman expires on Jan. 31, 2010. (Technically, his term as a Fed governor expires a decade later, but by tradition he would step down in 2010 if Obama does not reappoint him as chairman).

courtesy & © 2009 Robert Higgs wrote:
- The Government's Cure for Alcoholism--Whiskey, More & More Whiskey
- The Government's Cure for Interestholism--Interests, More & More Interests
Tuesday, February 24, 2009
In the initial phase, the Treasury will provide $20 billion and the Fed will provide $180 billion. Treasury Secretary Timothy F. Geithner said last week that the Treasury could increase its commitment to $100 billion to allow the Fed to lend up to $1 trillion.

Well, there you have it. If you can imagine anything more idiotic in the present circumstances, your imagination is more powerful than mine.

I have this recurring nightmare in which Tim Geithner is lying in a dark corner of a saloon. His bosom buddy Ben Bernanke comes in, sees him lying there in a heap and rushes to his side. He finds his comrade breathing heavily and reeking of a warehouse worth of booze. He shouts for help: “Bartender, get over here quick. Bring this man a whiskey. And make it a double!”

Into such hands has fate delivered us. May God have mercy on our souls.
Source: by courtesy & © 2009 Robert Higgs

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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.

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