Wednesday, March 6, 2013

Mayor Bloomberg: Sequester Not a Concern Because US Has Unlimited Amounts of Money

Submitted by Bill Holter:
Mayor Bloomberg of New York City spoke Friday and told people not to worry about the sequester because the U.S. has “unlimited” amounts of money.  Does he really believe this?  Does anyone?
It is this exact mindset that put us in the situation we are in today, “money” is no object.  It is no object because it has no value.  Dollars cost little to print and nothing to create digitally.
I don’t know how it will be explained to the masses that “your money is worthless” but this is fact and the ugly truth will come out.  This is something that every citizen in the world has had to factor in to their investment and savings plans…EXCEPT for Americans.  Which is why the coming currency crisis will be felt harder here in the States and be coped with less effectively than anywhere else. 

Mayor Bloomberg of New York City spoke Friday and told people not to worry about the sequester because the U.S. has “unlimited” amounts of money.  Does he really believe this?  Does anyone?  Please, DO READ this link, what Bloomberg has said is the epitome of stupidity, arrogance and structural ignorance that is running (ruining) this country.  He said that we could “owe an unlimited amount of money and there is no specific amount that would cause default”.  “UNLIMITED”?  Unlimited is an awfully big number, in fact “unlimited” is sort of like “infinity” don’t you think?  Oh that’s right, we’ve already spoken about infinity, nothing to see here…please move along.
Bloomberg has become a sort of poster boy for looming fascism, tyranny or even dictatorship.  You can’t buy any soda in New York over 16oz?  What the hell is this?  Wouldn’t you just buy 3 sodas if you wanted 48 ounces? Besides, it is your money isn’t it…can’t you spend it how you choose?   And his gun control stance?  They just passed the most restrictive (read “un” Constitutional) laws in the country, but have you ever seen pictures of him in public?  He has a swarm of ARMED bodyguards surrounding him.  How hypocritical?
But back to the “unlimited money” comments.  This guy is a billionaire and knows what “money” is but maybe he has so much of it that it has no meaning to him?  It is this exact mindset that put us in the situation we are in today, “money” is no object.  It is no object because it has no value.  Dollars cost little to print and nothing to create digitally.  How can anything that costs nothing to create have value?  They can’t and this is most central core of our problems.  “The Money”.
I don’t know how it will be explained to the masses that “your money is worthless” but this is fact and the ugly truth will come out.  This is something that every citizen in the world has had to factor in to their investment and savings plans…EXCEPT for Americans.  Which is why the coming currency crisis will be felt harder here in the States and be coped with less effectively than anywhere else.  “We” are just not used to having to factor in any thoughts about “the money” itself which is why disingenuous politicians like Bloomberg can get away with statements like the “money is unlimited”.
Theoretically he is correct however.  Because the Fed is able to create as much as they desire, it can be done.  Where he is totally wrong is that “foreigners” are lending us unlimited amounts, they are not and in fact have cut way back on what they are willing to lend us.  No problem though, the Fed has stepped in and taken up the slack.  I guess we will have to wait to see what “level” it will take to enter default…on second thought, we already did this nearly 42 years ago when money was demonetized.  Since then the “money” has become more and more “unlimited”, look where that has gotten us!  Regards,  Bill H.

Bank Of America Is Spying On Private Citizens

Anonymous reveals Bank of America secrets.
CNET BusInsider
Last week Par:AnoIA, a group linked to Anonymous, released 14 GB of data implicating Bank of America and others in a massive spying operation.   The data dump reveals the bank employed security firms to spy on hackers, social activists and numerous other private citizens across the web.
statement issued Feb. 27 indicates the data contains detailed information about hundreds of thousands of executives at companies around the world, including Bloomberg, Thomson Reuters, TEKSystems and BofA.
The group says the data was not acquired during a hack but rather was retrieved from an unsecured server in Israel.
The documents leaked by Anonymous include "intelligence" reports allegedly compiled by TEKSystems on "daily cyber threats" from around the world and Internet activity related to the Occupy Wall Street movement.
The data dump comes three weeks after the Federal Reserve confirmed that one of its internal Web sites had been hacked.
The group says that Bank of America employed private IT firms such as TEKsystems to spy on hacker forums and social media networks. Special software was created to use keywords to troll the internet in order to judge sentiment about BoA among other things.

According to the website of TEKsystems, 
We have the largest global network of credentialed IT professionals to lead and support your engagements. With over 100 locations, nearly 3,500 employees throughout North America, Europe and Asia and an IT consultant network that encompasses over 81% of the IT workforce, we deploy more than 80,000 technical professionals annually to support critical engagements at more than 6,000 client sites, including 82% of the Fortune 500.
Related Story from Another Group within Anonymous
ANONYMOUS Strikes Wall Street CEOs, Releases Data
The leak is associated with Operation Wall Street, a new protest launched by Anonymous hacktivists against the US government, Wall Street and the financial services industry.  The operation seeks justice for those “who have lost their homes and had their lives destroyed” by “the crimes of Goldman Sachs and other firms.”

Anonymous: 10 Things We've Learned In 2013

ANONYMOUS Hacks The Federal Reserve!

Daniel Hannan: 'Bank Bailouts Were A Generational Crime!'

Truthtelling 101 from Hannan.
One trillion pounds spent on the U.K. bank bailout.
'The bailouts were an ethical crime where low and middle-income people were required to rescue extremely wealthy bankers and bondholders from the consequences of their own errors.  This will one day be seen as a generational offense!'
Give this 3 minutes.
Daniel Hannan | Occupy Wall Street Debate | Oxford Union

Do You Live in a 'Death Spiral' State

Do You Live in a 'Death Spiral' State

Don’t buy a house in a state where private sector workers are outnumbered by folks dependent on government.
Thinking about buying a house? Or a municipal bond? Be careful where you put your capital. Don’t put it in a state at high risk of a fiscal tailspin.
Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. The list includes California, New York, Illinois and Ohio, along with some smaller states like New Mexico and Hawaii.
If your career takes you to Los Angeles or Chicago, don’t buy a house. Rent.
If you have money in municipal bonds, clean up the portfolio. Sell holdings from the sick states and reinvest where you’re less likely to get clipped. Nebraska and Virginia are unlikely to give their bondholders a Greek haircut. California and New York are comparatively risky.
Two factors determine whether a state makes this elite list of fiscal hellholes. The first is whether it has more takers than makers. A taker is someone who draws money from the government, as an employee, pensioner or welfare recipient. A maker is someone gainfully employed in the private sector.


Ever wonder about why our economy is in trouble? How can so many people can be in so much debt at the same time? Does it seem strange to you no matter how hard one works, and in spite of all the advances in society, most hard working people cannot escape the treadmill of perpetual debt?
Why are so many families losing their homes to foreclosure? Why are many households dependent upon credit cards to supplement their income? Why does it take TWO spouses to maintain a household when it used to take just one? Why have so many retirement savings been wiped out? Why do prices always creep up?
Did you know that close to 1/3 of all income taxes are consumed just to pay interest on the Federal Debt? (National Debt currently 16.5 TRILLION DOLLARS , or about $165,000 per household.) Think about it. Every penny that you pay in income tax from January 1 - April 1 is consumed just to pay interest on Federal debt, much of it to foreign banking families!  And let's not forget the Government's unfunded future liabilities, estimated at 75 TRILLION. (an additional $750,000+ per household.)
Add those staggering sums to the 11.3 Trillion in total consumer debt (mortgages, car loans debt, credit cards, etc), student loan debt (1 Trillion more), State debt, County debt, City/Town debt, small business debt, big business debt, and you will see that the total of these debts actually exceeds (BY FAR) the amount of money supply in circulation.
So, how can such astronomical debt ever be repaid? Well, if you haven't figured it out yet - IT CAN'T. The only way for society to service just the interest on these monstrous debts is to constantly inject new debts into the system.
Finally, on top of all your Federal, State, gasoline, and local taxes, (30% - 40% of your gross income) and on top of your personal debt service burden (another 25%-50%), there's this thing called "inflation", or  "the cost of living." What exactly is "the cost of living?" What causes it? Why does a dollar buy less and less each year while wages stay flat?
Is the stress of perpetual debt and rising prices keeping you up at night? How many strokes, heart attacks, and even suicides are induced by financial stress each year? Money and debt may even have led to your drinking problem, or perhaps even to  depression. Debt may have been the underlying cause of your divorce or that of some couple that you know.
You know in your gut that something isn't right in this country. But you don't have the "Economics education" to figure it out. It all seems too complicated for you to put your finger on, so you just keep slaving away to pay interest and taxes as your dollar buys less and less. All you can do is keep working like a dog and leave the matter to the Wall Street "experts" and politicians to handle for you.
But it's all quite simple really. So simple in fact, even a dummy can understand it when it is broken down to basic elements.
So then, how exactly did you all become such debt/tax/inflation slaves? Well, I'll let you in on my little secret. You will be amazed at how easy it is to understand.
My name is Mortimer M. Moneybags III and this is the true story of how I bankrupted and enslaved my hometown of Tomatoville, USA:
One night, Bill, Frank, John, and Mike came over to my place for a friendly game of poker. My four neighbors are all prosperous tomato farmers. Tomatoes actually serve as the currency of Tomatoville, USA.
Before starting, the five of us agree to each put up 10 tomatoes as our "risk capital." That's a total of 50 tomatoes. (Gross Domestic Product - GDP)
Play begins and we realize that trading tomatoes during our bets is awkward. I suggest that we utilize paper notes to represent our tomatoes instead. Because I hold a degree from Harvard, all agree that I should act as "Central Banker".

We place our tomatoes in the center of the table and I print 50 paper notes with the face of  Tomatoville's founder on them (corresponding to the 50 total tomatoes, 10 notes for each player). Each paper note therefore represents 1 tomato....simple. (sound money/hard money/gold standard)
As play resumes, I have an unseen advantage over my guests. At 30 minute intervals, I repeatedly excuse myself for a "bathroom break." (Fed Meetings) During this time, I'm actually sneaking into my bedroom and printing up more 1 tomato notes (fiat money).
The Money Magician creates money out of thin air.
Upon returning, I gradually gamble and inject ever increasing amounts of notes (liquidity) into the game (the economy). By midnight, the original 50 notes has increased to 500 total notes. After ebbs and flows, the game was remarkably even at midnight. The five of us, who had each started out with just 10 notes apiece, now held 100 notes apiece. As you might expect, due our newly found "wealth", the size of each player's bets increased in direct proportion to the growth in the supply of Tomato Notes. (price inflation).
But the same 50 tomatoes  -the true intrinsic value of the game - (GDP) remain  in the jackpot.

Because we are getting so "rich" from the game, I propose that instead of ending the game, we leave everything as is and resume play the following month.

"Why don't you fellows spend some of your Tomato Notes, and save some to invest in next month's play. Tell the shopkeepers that each Tomato Note represents one tomato that is still sitting on this table. They'll accept the Notes as if they were actual tomatoes."
"Great idea Mortimer! The paper is so much more convenient to trade than the tomatoes." replied Mike.
All agree to suspend play and resume next month. Before they leave, I announce that I'm cashing in 20 of my 100 notes in order to make tomato sauce the following day. 
At the original ratio of 1 note to 1 tomato, my 20 notes trade for 20 tomatoes. I have doubled my original "investment" of 10 tomatoes (profit taking), and still have 80 paper notes with which to resume the game next month. There are now only 30 total tomatoes remaining on the table.

As I expected, my friends have no intention of cashing in any of their "winnings" because the returns from the game are so high. They each hold 100 notes and really believe that their original 10 tomatoes have yielded a 10 to 1 return from playing the game
(Bull Market, irrational exuberance).
"Let's go shopping!"
When the players explain to the town merchants that the Tomato Notes represent actual tomatoes that are stored at my house, the merchants gladly accept the notes as if they were actual tomatoes. During the ensuing month, the players spend many of their notes and take out various loans as well. 
Bill buys his wife a new sports car by putting down 25 Tomato Notes and taking a loan for the balance. (Detroit prospers.) 
Frank takes out a small business loan to open up that restaurant he's always dreamed about (job creation).
John puts down a 50 Note down payment and signs a contract for a new home mortgage (housing boom). 
Mike spends 40 of his Tomato Notes and also goes on a credit card shopping spree (consumer confidence). 
The local bank manager also trusts that the Tomato Note income of the borrowers represents true wealth, so he honestly believes that he is not engaged in risky lending when he lends out his depositors tomatoes to the successful poker winners. (Sub Prime mortgages, No Money Down Mortgages)

The bank then sells some of the loan notes to The Tomato Street investment houses. Blinded by greed, and ignorant of "the big picture", Tomato Street portfolio managers believe that the debts are solid investments for their clients. (secondary market ,mortgage backed securities) 
So not only do the four players believe that they are prospering, but the businessmen that are now selling more goods to the wealthy poker players believe that they are earning more Tomatoes also! They too increase their personal spending and borrowing accordingly. (multiplier effect)
As the new "prosperity" makes its way through the town, the prices of goods and services also begin to rise - exactly like the size of the bets in the poker game had risen, and exactly for the same reason! Everyone thinks they are getting "richer", but their new wealth is artificial and temporary.
Me? I just rub my hands in glee and laugh at how foolish these people are.
The economy of Tomatoville is BOOMING......or so it seems.

The Poker players and I meet again at my place and pick up where we left off the month before.  The mood is jovial as the players look forward to another round of "earnings". After a few hours of more silent note injection,  1000 notes now circulate evenly among the players (200 each). My guests boast among themselves about all the new toys they have recently charged. They aren't worried about the debts they are incurring because, if necessary, they can always cash in their abundant paper notes for tomatos (equity) and pay everything off free and clear.
John then mentions that he has noticed that the town merchants have increased the prices of their goods and services.
"Have you guys noticed how expensive milk and eggs have gotten lately?" John asks.
"Yes! I noticed that too." said Bill. "And a cup of coffee now costs 2 tomato notes! Why is that Mort?"
Anticipating that this question would arise, I launch into my cleverly planned explanation:
"Well gentlemen, there are three underlying causes behind the price inflation you are seeing at the town stores. First, when the town merchants learned of your new prosperity, they increased their prices because they knew you could now afford to pay more. That's typical capitalist price-gouging."
"Those greedy bastards!" shouted Frank.
I continue:
"Yes. Greed is a main factor. But our shopkeepers aren't the only greedy businessmen. The second reason for this inflation is that the folks over in Oilville have got us over a barrel. They too have increased their oil prices. Because all of the goods we buy have to be shipped by train and truck, the increase in transportation costs gets passed on to you the consumer."
Mike leaps to his feet and angrily declares: "I say we bomb Oilville back to the stone age and just take their damn oil!"
"I don't know about going to war, but we definitely need to develop solar and wind energy here in Tomatoville."     adds Frank.
"What's the third reason for this inflation?" asks John.
To which I reply:
"The third reason isn't related to greed. It is due to the prosperity of the people over in Potatoville. As Potatoville develops its economy, they grow and sell more potatoes. This increases their own demand for oil. That increased demand pushes oil prices up. Again, because our economy runs on energy, Potatoville's prosperity is contributing to the inflation you are seeing here in Tomatoville."
To my amazement, the men, acting as if they have been enlightened by some deep philosophical discourse, all nod their heads in agreement at the utter nonsense I have just spewed.  We then resume the game.
After a few more hours of play, I decide to trade in 20 more paper notes for 20 more tomatoes (insider trading). My friends ridicule me. "Mortimer! Why would you trade in notes for tomatoes when we are all making so much money?" they ask.

"I just want to lock in some of my winnings now. You never know if fortunes may turn." I replied.

I have now "earned" a total of 40 of the original 50 tomatoes from the table, quadrupling my initial investment. Whereas my  scam was not obvious before, my victims now clearly see that the true value of the tomato jackpot  has diminished (recession, Bear Market). They each started with 10 tomatoes. So how come they hold hundreds of notes when there are only 10 tomatoes left for the four of them to divide?

Bill panics. "I'm trading in!" he declares. He dumps all 200 of his notes and attempts to grab the remaining 10 tomatoes (stock market crash, bank run)."
Not so fast Bill!" declares Frank. "If you get those remaining tomatoes there will be none left for us!"
"Oh my God! Mortimer! How am I going to pay off my debts to the town's merchants? What's happened here?" Mike asks.
My expression turns somber as I reply:
"Damn! I was afraid this might happen. Because we were doing so well, the game "overheated". The Tomato Note fell against the tomato. When that happens, the cost of playing goes up (inflation) and then a contraction occurs (recession).  It's a natural cycle."
"So how do we allocate the remaining tomatoes?" John asks.
"Simple." I replied. "It's called currency devaluation. You four  each have 200 notes in hand, and I have 160. That's a total of 960 notes in circulation (money supply). There are 10 tomatoes remaining. Divide the 960 notes by the remaining 10 tomatoes and the new cost of a tomato is therefore 96 notes (hyper-inflation). That means that your 200 notes can buy back 2 of the remaining 10 tomatoes for each of you." 
The paper Tomato Note currency has lost its purchasing power (inflation, bubble bursting) and my 4 neighbors have each lost 8 of the original 10 tomatoes they had once owned. I walk away with 42 of the original 50 tomatoes. (real wealth)
If the players had added 950 tomatoes to the original 50 (GDP growth), there could be no bubble and the Tomato Note would have retained its 1-1 value. (1000 notes / 1000 tomatoes)  Even in a crooked monetary system, increased production "props up" a debased currency. But the people will not benefit from the increased production because the extra wealth is stolen by Mortimer's printing press.  Mortimer can always create new bubbles by printing up even more notes and then being the first one to "cash out." In bubble economics the first sellers to get out of the game (stock market, real estate market etc), will profit unfairly by receiving inflated "fake" value for their stocks, homes, currency etc. When the game then adjusts to the burst bubble value, the remaining sellers get less. (Examples: Investors who sold their stocks when the Dow Jones was at 14,000. Homeowners who sold in 2006 at the peak of the real estate bubble. Investors who in 2007 exchanged US dollars for gold or other hard commodities.) 
An honest money system  keeps the growth of money supply proportionate to the growth of  goods and services (GDP) for a 1-1 ratio. (no inflation / no deflation)  But when money is printed "out of thin air" (as opposed to gold or silver which have intrinsic value due to rarity and beauty ) Mortimer is always ahead of the players, especially when he starts lending  notes to the Mayor and local bank, at interest. When that happens, all of Tomatoville becomes Mortimer's poker game.
But the real problem is that the four suckers, believing they were "wealthy", had charged up a lifestyle that they can no longer sustain.

That car Bill bought for his wife? Can you say "Repo Man?"

Franks new restaurant? The chefs and some waiters will have to be laid off (increased unemployment).

Mike's credit card bills? Soon to be delinquent and destroying his credit rating. (credit crunch, local Bank losses)
John's new home? Foreclosure, followed by divorce (housing slump).

The merchants who had sold or loaned to them will also be negatively affected. Anyone who had dealings with the free spending Poker players is also holding devalued notes and possibly carrying bad debts. The artificial debt & inflation prosperity had spread like viruses, and now the malinvestment balloon has to painfully deflate.
The bewildered and frightened town folk don't understand how this  happened. Because of my Ivy League credentials, coupled with the fact that I have accumulated so much wealth, they look to me for expert advice and answers.

I explain to them that we are in a liquidity crisis:

"Friends! This is part of the natural business cycle. Sure, you  have suffered a short term loss, but in the long term we all come out OK as the markets recover. You saw how much wealth you had earned. If you get out of the game you'll be locking in your losses."

"The market has hit bottom. Truth be told, you guys helped create this mess yourselves with your reckless consumer borrowing, and the local bank should have known better than to lend its depositors tomatoes out so carelessly. (blaming the symptoms, instead of the cause) This is the problem with free market capitalism sometimes." 
"I will advise Mayor Bulshitz to institute new legislation, a huge stimulus package, and more regulation over private enterprise (New Deal). We shall create a social safety net in order to protect you from future naturally occurring business cycles." (Great Society, War on Poverty)
"Greedy Corporations, town shopkeepers, and employers big & small created this mess and it must never happen again. (class warfare) We will impose strict price controls to fight the inflation that the greedy , price-gouging shopkeepers caused."
"We will tax the rich! (Federal Income Tax, established in 1913) Free health care! Free education! (socialism) Liberty! Equality! Fraternity! Change we can believe in! Hope! Yes we can! Workers unite! You have nothing to lose but the chains which bind you!"
"Don't worry about the town's Constitution. It's an outdated document written by a bunch of dead white guys. If we are to fix this mess, then we must ignore its limitations on progressive government action."
"If you give me power, I will take care of you."
To feed the insatiable debt monster, and to maintain confidence in his notes, Mortimer must have a perpetually growing GDP (more tomatoes). If not, runaway debt and inflation will cause the economy to implode sooner, rather than later.  GDP growth is fueled by "consumer spending"(consumption) and the constant borrowing which enables it.  This is why economists, politicians, and other assorted lunatics are so obsessed with constant GDP growth.
"The tomato must no longer serve as the backing for our currency. To meet the liquidity needs of our new system, it is imperative that we get this town off of that antiquated, "barbaric fruit" Standard (hard money) and transition to my expertly managed paper currency." (fiat money)
"As far as the poker markets go, now is the time to play even more aggressively (buy low). We'll meet again next month. In the meantime, work harder and bring more tomatoes to the next game, I'll print more notes to increase liquidity and induce the banks to loosen up credit once again. (pump priming, quantitative easing)
"If the local banks need to make more loans, I'll lower their reserve requirements so that they can lend (create) money that they don't have. As long as too many depositors don't make withdrawals all at the same time, like you fellows did in our poker game, they'll be none the wiser." (fractional reserve banking)
Even if there is a bank run, or if the bank's loan demand exceeds it's reserve requirement, I'll act as the "lender of last resort" (Federal Reserve, established in 1913) and lend (create money for)  to the local bank at interest (Bank takeover, Discount Window).
I will also lend to (create money for) the Mayor's office (Open Market Operations, purchase of T-Bills, stimulus) , and bail out (create money for) the Tomato Street Brokerage houses that I deem to be "too big to fail" (Goldman Sachs, JP Morgan bailout package).
Let the good times roll!
I continue: "Finally, I will organize an emergency meeting of the Mayors, Finance Ministers, and Note Printers of the European towns (G-20, "world stage").  Now is not the time for isolationism. (independence, sovereignty)  Global problems demand global solutions! (IMF, World Bank, WTO, UN)."
"We will recover.  So keep spending, secure in the knowledge that the best and the brightest of the world community are on the job. We have nothing to fear but fear itself!"
The "business cycle" is very simple. When the rate of growth in money supply (debt supply) exceeds the rate of growth in the general economy (GDP), the excess "money" has to go somewhere. It creates an illusion of prosperity. Artificial bubbles will form either in housing, stocks, currency, etc. Eventually the market always corrects for these phony excesses and the bubbles burst. (just like the poker game.)
We the Central Bankers own it all!
The men leave my place full of hope, grateful that a financial "expert" and a caring leader are in charge of the recovery plan. Incredibly, I have convinced them that it was free enterprise, tomato currency, and limited government (the three main pillars of their original prosperity), that caused their problems.
Instead of seeing my inflationary system, my perpetual interest demands, and the Mayor's out-of-control spending and high taxes as the causes of their lower standard of living, they actually worship Mayor Bulshitz as a savior. Bulshitz gives them all the socialistic "free" goodies that our destructive schemes made unaffordable for them in the first place.
First we crush the owners and the workers of the private economy. Then, Bulshitz rides in like a knight on a white horse, offering welfare schemes to save them.
The simple townfolk never stop to think that were it not for us, they would have the income and capital to take care of themselves!
When Bulshitz runs short of money (as he always does), I'm there to lend it to his interest of course.
Damn I love this job! .
My European colleagues and forefathers have been running this scam for centuries. During this past century, we've been working to diversify our operations to include control of the world's natural resources. Whenever some independent-minded foreign mayor resists our game of Banking & Resource Monopoly, (Iraq, Venezuela, Iran), our friendly mayors (the "free world") will team up  to bring that town back in line (sanctions,UN resolutions, spreading democracy,CIA coups,wars). Perhaps one day we may even merge our operations under a single global umbrella? (New World Order, G-20, Global New Deal, Global Warming scare)
I also play golf with the owners and publishers of the local "liberal" newspaper as well as with those from the "conservative" media. Through my close friendship with them, I am able to influence the editorial and news content of both. It's sort of a "good ole boys" networking thing. As long as they don't expose my operation, I am happy to allow the two parties and their sheeplike followers to amuse themselves with the daily drama of those superficial popularity contests known as "political campaigns." By having the "left" and the "right" beat each other up, the townfolk are kept divided and diverted from my actions. In the end, it is I who wins EVERY election.
Professor Pointyhead peddles Mortimer's bullshit.
While Mortimer's Media glorifies his paid agents.

My "philanthropic endowments" to Tomatoville University guarantee that my twisted version of economics is taught to the students. Awestruck by my immense wealth and prestige, most, but not all ("Austrian School", Peter Schiff, Ron & Rand Paul), of the economists at "TU" are eating out of my hands. So, when the town folk read The Tomato Street Journal, or hear Professor Pointyhead speak on TV, my false theories are reinforced in their minds.(Keynesian Theory, "Chicago School")
All, except for John - the critical thinker of T-ville. He figures it all out and embarks upon a one man Internet crusade to expose me, calling me a "counterfeiter", "usurer", "insider trader", "warmonger", and "The Shadow Mayor."
"John is Baaaaaad."
My fellow Country Club members from the media convince everyone that John is "paranoid", and an "extremist" who is a mentally unstable "conspiracy theorist" and potential "domestic terrorist." Most of the town folks defend my intellect and character, and disassociate themselves from John. The others are too burned out by the hustle of life to even make the time to study politics and economics.  Eventually, John is denied access to The Tomato Street Journal and throws his hands up in frustration.
Tomatoville is deeply in debt in to me because the massive police force and the "safety net" programs (that my destructive monetary schemes necessitated) are very expensive!  I've got so much dirt on Mayor Bulshitz, that if he dares to either reintroduce the tomato standard, or if he decides to print interest free currency proportionate to the amount of real goods and services in the town, my newspaper friends and slick TNN anchormen can ruin him.
A typical example of the incestuous old boy's network that exists between the Wall Street, Washington DC, Central Banking, and corporate media elite, is the case of international banker, Eugene Meyer.