The Sweet (But Crooked) Lies of MMT

The U.S. is going down an inflationary path, now.  It’s just a matter of when it gets here and how hard it will bite.

Not only did Congress abdicate its mandated money creation role, but with the Nixon-era slamming of the Gold Window, we have been adrift on a sea of Made Up Policy (e.g. the floating world craps game) since the 1970’s.

As we have been expecting, it won’t end well and this morning we offer some evidence along the way.

But, not without our usual Saturday morning headline review and our ChartPack.
Which, we have to say,  has remained devastatingly useful in playing “hide the sausage” in present market conditions.

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47 thoughts on “The Sweet (But Crooked) Lies of MMT”

  1. Hi George,

    I am sure you are aware that Amazon has been censoring and banning certain books. They also shut off the servers to Parler. After they did this I really started to research Amazon and I have come to the conclusion that they are a terrible company that I will no longer use. Here is one site that lists many reasons why we should not buy from them:

    I would be interested to know your thoughts on this topic.


      • Ebay! Comparison shopping is much easier. It’s not all about ‘bidding’. Many commercial sellers on ebay with “Buy it Now” pricing. Often better deals than Amazon… which I avoid like the plague.

      • Go to the store if you can, order online if you can from the provider or buy used, or just do without. We all have to do our share to kill the beast.

      • I don’t know of any that is as easy as Amazon. I just try to order from the company that I am buying from. Yes it is a pain because you have to start a new account most times so it takes more time than Amazon. I also try not to order online unless I have to. I try to buy local if I can but that is getting harder to do. I wish we had more options.

    • Thank you for the interesting link. What is it about Mexico that attracts those like Dr. Stallman fleeing the cancel culture?

    • Scott, there’s often not an alternative. The B&Ms list “stock” they don’t have (and don’t carry) by combining their actual stocking items with items “listed” by “affiliate sellers.” Amazon does this as well, but they also get (and stay) up their affiliates’ backsides, to ensure deliveries are made within a given window.

      Many of Amazon’s prices are not great, but if they advertise something as “in-stock” at, it is, and their delivery turnaround is often under two days. What I generally do is use Amazon as a search tool, to locate the exact online name of the manufacturer, jobber, or author of the product I seek (sometimes the exact part name), then run a googl search (about the only thing for which goo-goo is still useful) to locate my item elsewhere. Then I price compare. Even after this application of mental gymnastics, Amazon wins about 40% of the time because of either immediacy of delivery or a significantly lower (shipped) price.

      I don’t like feeding the hydra that is Jeff Bezos. I suspect people didn’t like feeding the public opinions or bank accounts of David May, Frank Woolworth, Adam Gimbel, or Julius Rosenwald either, but when you’re a best in-class merchandiser and retailer, you are unlikely to die poor, no matter how much the general public dislikes your personality, politics, or the explicit means by which you accrued your status.

      I suggest you buy local whenever possible, but if you have to mail-order, don’t discount Amazon, or trouble yourself on occasions where you have no reasonable alternative to purchasing from them.

  2. The problem with currency anchors – gold/silver/Bitcoin – is eventually someone ends up owning all the chips.

    MMT is good for Amtrak, Boeing or GM so MMT is good for you, me and the others.

    During the pyramid building days the choice would be simpler. Pull blocks all day or beer it up and watch blocks being pulled all day.


    Sheesh.. why not give illegal immigrants checks.. and social assistance.. doesn’t the Post office or other govt. organizations need more help in the labor department..
    I think once the balloon pops they will need as many supporters as they can muster..
    although the balloon isn’t the present administrations fault it is from decades of passing the money meant for the running of the United states and caring for its population to other countries to fix them.. unending wars and military deployments etc.. funny how the vast majority of our yearly budget is to two main things.. interest on the deficit and to other countries.. but it is what it is.. smarter men than myself know the benefits of throwing your money away .. to me it looks like they should be leaders in the drooling classification.. but seriously hey who am I .. they get millions tossed at them for being a drooler.. I live at poverty level so seriously who is the true drooler…–W-OPLs0Y–/t_Preview/b_rgb:ffffff,c_limit,f_jpg,h_630,q_90,w_630/v1538862303/production/designs/3271536_0.jpg

    • We already give illegal aliens: FREE Medicaid, CHIP, housing, EBT cards (food stamps), monthly cash allotment, breakfast, lunch, and some places dinner at schools, school supplies, vaccinations, clothing, maternity care and supplies for the newborn, $2,000 back on IRS filing PER each child (do not have to work to get that money given to them), (increasing that), and much of this is for life AND MUCH MORE. Imagine having all that money coming in each month AND help.

      The ASSISTANCE PROVIDERS do not require them to be a citizen to get these benefits (just check the Medicaid site in case you don’t believe me.) PLUS, the underage ones coming across the border, our government pays upwards of $1,500 PER child/teenager to anyone who will take them into their home; they are allowed up to FIVE in each home. They are each paid more than citizens taking in CPS children or Foster care in America. It really is disgusting and abusive to the American citizen. WHERE ARE THE PROTESTS? Why are they allowed to cross the border COVID POSITIVE and go anywhere in the continental United States? WHERE IS THE HELP FOR THE WHITE AND BLACK MALES IN THEIR 50’S AND 60’S WITH MENTAL HEALTH ISSUES AND LIVING ON THE STREETS who are too young to collect Social Security and there is NO safety net for them?

      • Of no value to the “masters’/TPTB ..

        – where as young children are highly valuable, much more so than Narcotics.

        Business Model – think of a GIANT corp Farm – as the overseer U would want the greatest return on Ure “investments” (Humans). Tougher to control when all speaking different languages (clue), if everyone spoke One language, and One religion, and One Government – Imagine how much easier it would be to manage Ure herd?

      • You forgot they also get every dime back that is sent in for IRS and SS besides every penny that the company sends in. And the EIC tax credit..
        Back in the eighties I worked with a refugee. He was guaranteed 40 hours ..the rest of us maybe got ten.. he had his housing health and dental he and his wife were getting free college daycare food and utilities. They bought him a new van a conversion van..I had to work 6 jobs to make bills..
        At the end of the year we were talking and he showed me his tax return check.. his return check was more than I grossed with the six jobs.. now i don’t care if someone wants bgg to live here raise a family. Come here legally pay the same taxes we pay .. plus a non resident tax and not be eligible for any of the benefits that were designed for tax paying citizens until they get their citizenship.. pay ffg or their schooling or take out expensive loans just like citizens and abide bythe laws made for the citizens of the USA..
        Anyway that’s my opinion..

    • loob: Funny how Trump supporters love to propagate any lie they can…
      Health, Social Security and Defense account for 3/4ths of mandatory spending:

      although net interest will rise substantially:

      foreign aid is less than 1% of spending:

      Your ‘whiney’ govt doesn’t spend $ on me’, govt spends more on foreigners’ mantra fits perfectly with the ‘victimization identity’ that Trump uses on his cult…

  4. Hey Buddy!

    Thanks for the sunspot graph – I was about to do the same thing for planning purposes at the farm. If it looked weak recovery in the trendline, we were going to change the greenhouse design – so now we will muddle through with middle-of-the-road instead of lower temp or higher temp.

  5. Great Article George…
    I know since I am pretty much dependent on the droolers in congress.. that the times ahead can be quite scary.. as they move closer to total Marxism.. what will they do.. Historically it has been military involvement.. but we outsourced our industry.. it won’t create jobs here.. but elsewhere and those that are our industrial complex.. are also the ones that they keep trying to pick a fight with.. from my perspective that is not a winning combination.. sort of like don’t bite the hand that feeds you sort of thing…the supply chain is broken.. ships waiting to be offloaded .. none of this is good..
    One senator made a comment that in order to keep it we needed to keep the money and stimulus checks going out.. eventually I think it has to come to a close.. and when it does.. will the texas deep freeze be the highlight of the year.. sending more and more money out to other countries when we should be fixing our own country.. scares me.. letting thousands and thousands of illegal refugees enter and then paying their way.. scares me.. well actually it terrifies me..

  6. While the Texas governor rescinded his order for mandatory face masks (which theoretically carried penalties), he urged Texans to continue to wear the damn masks. I’m using three layer procedure masks, and that will just have to do.
    Funny that government offices in Texas remain closed to the public. I need to pay a bill to an agency, and I am being forced to send a check to an unmanned office. I’ll be lucky if I don’t end up in court over it. Or would that be a simulated tele-court?
    Availability of the vaccine for those under 65 who aren’t first responders or getting hospital treatment appears to be nearing non-existent locally. The J&J vaccine has not made an appearance locally, that I have seen.
    New cases are still dropping locally, and are down more than 10x from the peak, so the vaccinations, along with herd immunity, have helped immensely.
    Yesterday at the grocery store I got a lot of dirty looks by the non-mask-wearers. The waitress who waited my table this morning was young, polite, wore a mask, and didn’t have a deep smokers cough. You win a few, now and then.


      As far as mask mandates.. if they are going to force you to wear one above is a quick solution…The real issue is in trying to get them off the young lady in the store.
      You would think as a compassionate shopper such as yourself they’d be a little more accepting to the need.
      Just kidding though..

  7. The U.S. is very different from Venezuela:
    Venezuela poverty rate 90%
    U.S. poverty rate 12% (although 2020 saw biggest rate increase in 50 yrs)'%20findings%20put%20the,level%20of%2010.5%25%20in%202019.

    Venezuela relies on donations from the International Red Cross, the U.S. does not:

    Pump that ‘corrupt cynical’ view of U.S. govt, it makes you more vulnerable to an authoritarian:

    U.S. spends more (as a percentage of GDP) on health care than any other country (17%):

    Venezuela now spending 4% of it’s GDP on healthcare:

    Present Solar cycle peaked at 114 sunspots,

    Spot #’s are close to the Dalton Minimum’s:

    • Thwack!
      The nasa feature is six months old. Electroverse art from 2019. Data on PN is three DAYS old….

      As for MMT? We will catch down with Venez soon enough. Trend ain’t our friend here.

      • Too late !

        Can U remind the folks where con gress gets Stimy money from ? They R simply a pass thru – All the Stimy $$$ will be PAID BACK in the form of progressively worse TAXATION off of Ure backs! and those of Ure extended Family.

        Every single eye that gazes over this site is on the hook massive TAX increases – soonly. Wage SLAVES, but SLAVES non the less.

        go ahead and try source physical Silver .. I can not find anything below 45% premium right now – even trusted on-line auction sites , all Silver; sterling, coin silver , .999 – ALL of it is fully priced to current spot price plus buyers premium(less than 45%). Once auctions go live – difficulty in keeping disciplined Bidding, as the price runs up against current Spot & buyers prem.

        -Coin shortages this summer (hint),
        $15/hr wage killing employment..”hello Robbie, glad to see U R never late for work, sick out, personal probs or ever have any health probs. Wait what ? U dont need any breaks, vacation time off, PTO, Wages & Health Benefits??

        WTF R these other $250/hr “eaters”/doctors & lawyers doing that Robbie Robot cant do ?

    • “Venezuela poverty rate 90%
      U.S. poverty rate 12%”

      You know.. I almost checked when I read that lol lol .
      While 76 percent of the wage earners collecting the eic tax credit and fifty percent of the population on food stamps.

      I do get the OFFICIAL status of 10.9 – 13.5 percent.. of those 2002 a study showed a more realistic of 31.3 percent.
      Even the resident liberal that lives in a city where poverty level just shy a quarter million will tell you that 15 an hour wont even buy you a bed at the local shelter.
      I live in a low cost of living state and 20 an hour won’t get you into a rental without a alone is over fifty percent of the average gross wage. Those on fixed incomes cant afford to pay the rent in the poorest neighborhoods. And that doesn’t even cover the other expenses..
      Sony guess is the statistic that is being shown is corrupted by the data collected just like the stats on unemployment and those in the work force. The hidden figures of the real state of the nation are not often viewed. JMHO I look at it from the bottom looking up. The vast majority of industry dont even look at their own rosters.. like the percentage that are part time without benefits..where only ten percent or less have healthcare or dental. Then retirement funds. Many places the wages and benefit packages only go to a 5 to 10 percent of the employees. I worked at a hospital where 67 percent didn’t qualify for the benefits the same for the vast majority of the places we worked .
      So I truly don’t think George is fear mongering.. in my opinion he’s giving a closer to true view..even his view is skewed to the more positive aspects. My guess is’ve never lived it you don’t have a perspective that deals with it. Just like our resident liberal..
      He lives in an area but doesn’t have a clue about the shizt on the street..even though it’s on every news coverage.

      • “Venezuela poverty rate 90%
        U.S. poverty rate 12%”

        Don’t bother, LOOB, it’s a BS stat from a cowardly troll.

        How many of the U.S.’ “12%” have cellphones, cars, big-screens, game consoles, underwear and more than 5 pieces of clothing which may be worn over same? How many have access to emergency medical treatment? How many can eat a meal without first engaging in a crime or providing a sexual favor? The answer is nearly zero. The answer in Venezuela, 25 years ago, was also “nearly zero.”

        Nothing can elevate people’s standards of living beyond where they, as individuals, choose it to be. What “socialism” always does, is reduce the standard of living of the masses, to the level of the least productive members of a society.

        BTW Mr(s). Troll, the “poverty rate” in the U.S. (and every other country on the planet) is a static 16.7% because it is a statistic, and by definition, is the lowest 1/6th of the population of a society, plotted on a Bell curve upon which “wealth distribution” is illustrated. It is also unchanging, and has no basis in anyone’s real life experiences.

      • Ack (again!) Must be getting senile…

        Where I said “nearly zero,” I meant “nearly all.”

    • “Venezuela relies on donations from the International Red Cross, the U.S. does not:”

      You do realize the changes came with the outsourcing of jobs and the dumbing down of our youth. Mom had to Go to work taking the adult supervision out of the home. Leaving the raising of our children to television, the local gang element and daycare services.
      Instead if companies looking after the needs of their employees instead the cast majority of the wages and benefits go to a very small minority. This is what i think will bring in Marxism and all the horrors associated we with that type of leadership. From my perspective it’s looking Similar to other countries where the scales of society became unbalanced..

      • “People worried about Social Fear Mongering should worry more about Communist Reality. See Venz and Hong Kong”
        Lack of economic opportunity for young families is reality. The Covid shutdown showed how thin the economy is for ordinary households. The elites have already given the leftists the franchise to exploit and subjugate middle America. Civil War II is over, and we lost.

  8. “Nixon-era slamming of the Gold Window,”

    made me angry at that time, because we had screwed it up badly. To-day’s politics seem so normal by comparison, because they are the “majority’s choices” ;-) and that’s what our US DEMOCRACY is taught to be all about?!

    Indeed, let’s promote DEMOCRACY everywhere.
    (Sarcasm intended!!!!!!!!!!!!!)

  9. The sad part of what nixon did is that our unmined gold reserves are so massive that we could buy the derivative market and pay in gold…………….just saying

  10. Keep an eye on that sunspot chart. My research dictates that 25 will peak, not at the projected ~120, but at between 75 and 90. I consider this the “test” for the methodology of my “prognostication via historical analysis.” If my projection is correct, we ARE VERY LIKELY headed for a (probably “Grand) Maunder Minimum,” which will begin, not when the “chicken little” types claim, but on the trailing slope of 27 — about mid century. If I am not, then I’ll accede to the folks at Palomar, who have more time to count sunspots than I…

  11. “See where the crooked players all hit print together, again?”

    I not only see it, but notice the queues are getting run, closer together (which tells me) we’re on the wrong side of a “diminishing returns slope.”

    I’m certain when we start printing billion dollar FRNs, China is going to happily take a thousand (give or take) of them in exchange for the U.S. debt they’re holding…

    • China went crypto my friend. The Juan, is a crypto currency now mister.
      The thing about crypto currency is can run hidden negative interest rates and nobody would be the wiser…. which tells me the Yuan is big deep deep poo poo.

      Uhmmm I think I read about that in ~The Zero Report ~ back in October… which I will do an assessment of at the end of the month of madness.

      March is as the Hebrews say,
      In like a Lion and out like a Lamb..

      First an assessment of document you titled, “Andys Prophecy”

      Who knows? Could end up on riviting late night of Coast to Coast with the other George. Lol if so, I will UrbanSurvival too and give a shout out to Mr Ure.

      Try to get on all that and uhmmm a new report and some fresh ideas this week.

      • ChiCom currency is irrelevant. The notes of ours they hold are all denominated in USD.

        “First an assessment of document you titled, “Andys Prophecy” ”

        Again, not THIS “Ray.” I would never attempt to either analyze or restate your predictions or projections. That is not my place, nor my calling.

        I would love to hear you on c2cAM. I believe you could be of benefit on that medium, however, you must sincerely want a Coast interview for the purpose of helping others, and not for self aggrandizement. You have much work to do, for that to happen, grasshopper.

        Start by polishing TZR so you can have a professional looking and reading copy to comp to George Noory, should he call. DO NOT SEND IT TO HIM UNTIL HE CALLS YOU! Then create a “live interview outline” of generally what questions you’d suggest GN ask, and (roughly) the answers you’d give to those questions. Talk-show dudes don’t like surprises. Make a physical printout, THEN set them both aside. Take 5 seconds every day to look at the printed copy and say to yourself: ” This WILL happen.”

        Add a short note to your daily prayers, that God be the inspiration for your effort, and that He not have let you do this work in vain.

        Cut the price of TZR to $11.60. Make a promise to yourself to refund the difference to anyone who purchased #0. You don’t need money, you need publicity. If your prophesies are accurate even just 60% of the time, you’ll receive it. Publish a new report monthly. Make it short, clear, direct, and when possible, actionable by the readers. Above all, publish it for the right reasons.

        You will need to do something to gain notoriety, so the c2c staff notices you. You can not cause this. If your heart is true and your prayers sincere, it will simply happen. The only part in the process where you can be actively involved, is to recognize the occasion for what it is, after it occurs, and accept (and make use of) the publicity humbly and wisely, when it arrives.

        If you make it onto c2cAM, what will you do afterward…?

  12. more garbage from the patriotic george .. wave your lags , sing anthems , cook pigs , drink bourban , watch football , social media addiction and then hope for hyperinflation . what a great patriot !!! what country ?

  13. Americas position in the world time zone helps 2 . Farken wankers . Massive massive rally in USD . Collapse of everything. Fools . Especially gold sheep and Ozzie facists .

  14. Hmmmm

    “Those flaws are known as zero days”

    George uses the word “No” when adressing Andy for the first time in 14 years.

    “No, it’s about money now. Pay attention. Assets from Asses.”

    Wonderful. One thing I noticed about you George is the word “no” is not often used by you. There is a few others that in your 5000 a day rap blender of alpha – zebra offering you don’t often use.

    Most people would not notice. However, I have noticed you hardly ever use the “no” word. Once to me in 14 years. Lol

    No is an absolute.

    Because My assessment of you George is, you seek to understand more than to be understood.

    You may still find ure way to the buffet in ‘Agartha’ after all. Have to be of High Moral standard to enter the gates to the city.

    I switched brands. No longer a Marlboro Man, I am a Winston Gold fella. So to speak.

    The situation has been resolved. Moving forward, back to writing on the morrow. Gabriel and Michael took care of everything. You know not even the Dimerje messes with either of them, right? Gabriel and Michael were around a long long long time before them.

    Funny my friend who i thought had died? Whose name is Gabriel. Come to find out, He wss just in a coma for 7 months in Houston. Do you know the weirdest thing George? I only hung out with him in the Coachella Valley for 3 months. 3 months of his 60 year existance on this planet in mortal flesh. The first person he called when he was able to talk 2 days after he came out of his coma was me. As soon as he got his phone (he is living in a bubble, no physical contact what soever) he called me. Not any family, not his ex wife, not his child hood best friend, not the owner of the Bulls or some senator, an ex lover or long time friend. Nope, He called me. I was super honored. I asked him why. He said when he was in his coma? I lead him out if it. He the only thing I remember was I was in this like maze, lost and comfused and you showed up. You looked different but it was you and definitely your voice. I know, because I heard you say, Gabriel? Cow boy up! And I followed you for a long journey to wake back up.

    I said, oh. Cool. I heard weirder shit. Lol. He told me he would give me everything he owned, all his money if he could get his health back. Every single property and over $400 million in assets. So I told him. John 5:8! So be it!

    And I texted him my address.

  15. Gold looks like it should counter trend rally. Don’t fall for any WSB short squeezes.

    • yes steve . i have added one very fast trade to the mix . always do what they least expect. at a time they least suspect .. ok you want to be mad facists . here poor some molten dog down your throats

  16. trade fast . pay premium . they will always try and shake you out . they like sheep , vegetables and zombies. hate realistic types . tell that crook kaplan contrarian is a bullsheet word . he and all the gurus work for the FED anyway . now ride em cowboy !!! leverage and at the line . suppose it is a bit like gridiron

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