Cebes commented on the blog post Two-Party System’s Stranglehold Threatens Future Where Frankenstorms Like Sandy Become Normal
How much of the planet could Sandy power? Yes, all that water rushing around. It must scare the beejeeszus out of the Fossil Fuel Freaks (FFF) when someone says hey what’s the operational cost and marginal profit from harnessing the oceans energy? Since both turn out to be much lower than natural gas fear is warranted.
Moreover, FFF knew it had to strangle the baby in the bath becausen France developed its low cost, eco-freindly hydro energy systems. FFF, fearing that these systems if sufficiently developed and distributed, would replace them.
So cynical subversion through cleverly orchestrated propoganda, control of government funding mechanisms for research and development all worked to supress rapid development of ocean power…wave energy…and damless hydropower.
A perfect example isthe 20 year history surrounding the development and testing of the Gorlov Helical Turbine.
Today, S.Korea, Brazil, and Eastern Eropean nations use this American invented technology. The EPA and Energy department took a pass on supporting this technology. Yes, Bush, Clinton, Bush, Obama administrations, talk the talk but BS walks and Professor Alexander Gorlov, Dean Emeritus of the engineering Department, Northwestern University, and winner of the Edison Prize for his Helical Turbine invention, left the U.S. for Europe where he is now acclaimed for his invention.
Cebes commented on the diary post The Washington Post Throws a Barrage of Non Sequiturs at Readers in Fed Editorial by Dean Baker.
Here’s what happens to gold while your looking at mainstream financial reports.
You’ve got it. The only cure is anarchy and then the evolution of a public, trasparent and accountable financial system rather than a private one. The new system would be limited to traditional banking not sophisticated gambling.
At the onset, commercial Banks – fearing a financial market meltdown – immediately became extremely risk averse and actually started to raise rates:
But the “Free Markets” were overwhelmed by J.P. Morgan’s rate rigging / defense of the dollar.
Ladies and gentlemen, 7.5 Trillion dollar interventions into the 3 month credit markets are not and never will be the work of Commercial Banks or Bank Holding Companies. Interventions of this kind are EXCLUSIVELY the work of National Treasuries / Central Banks.
The late 2007 dichotomy between Libor [Eurodollar Futures] and 3 month U.S. T-bills was brought on – not because Libor was “broken” – but by the U.S. Treasury’s Exchange Stabilization Fund [ESF] pursuing/inflicting Imperialist U.S. monetary policy – brokered through the N.Y. Federal Reserve – on the world through the trading desk of J.P. Morgan Chase.
See the charts and full details here:http://solari.com/blog/libor-rigging-the-tip-of-the-iceberg/
Here’s what Progressives should support: Elimination of the Debt Ceiling. The Debt Ceiling is a significant constraint on public purpose-deficit spending for policies and programs designed to reduce unemployment, insure the medically uninsured, educate for modern skills, develop effective renewable energy technologies, and pay down the national debt. This self imposed constraint on a fiat currency monetary system is [...]
Cebes commented on the diary post $1 Million Dollar Prize! Can You Find Someone Who Holds the View That Steve Rattner Rants Against in the NYT? by Dean Baker.
Understanding why governments issue debt The fundamental principles that arise in a fiat monetary system are as follows. ■The central bank sets the short-term interest rate based on its policy aspirations. ■Government spending is independent of borrowing which the latter best thought of as coming after spending. ■Government spending provides the net financial assets (bank [...]