Hi. Thanks for stopping in. I’m Jere L Hough. Welcome to my new blog.
My current passion is money and economic reform. I hope to help others make the same paradigm shifts in thinking I’ve gone through since I’ve figured out that money really is the “root of all evil”, and why that proverb is more true today than ever before.
Of course the proverb says “The love of money is the root of all evil”, which needs further clarification. What is not addressed, and what I discovered, is that it is the mechanics of money creation and distribution that are currently at the root causes of our worldwide economic and monetary problems.
In other words the fatal flaws are systemic, and have been so ingrained and institutionalized within our culture and civilization that the corrective surgery could be as fatal as the disease, to use a medical metaphor.
This is not generally well-received news, if it is received at all. Most people that hear it immediately disengage, or turn on their processes of denial. If for not other reason, they just don’t want to think about the complexities of money and economics.
Who could blame them after 300 years of deliberate and massive efforts to abscure the subject of economics, and make it seem totally impenetrable to all but the Greenspans, Bernakes, Volkers, Rubins, Paulsons, Rockefellers, Morgans, Rothchilds, and other financial Gurus of modern times, dating from the era of Adam Smith?
In fact, few people who began reading this will still be reading this far. The eyes glaze over, and the 20 or 30 second attention span possessed by most people is already gone. But there are great rewards for those who stick with us for just a while longer.
You see, economics is not the layer upon layer of impenetrable mystery you have been led to believe by the various competing and confusing schools of economics, or economic thought. John Kenneth Galbraith got it right when he said, “The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it (p15). The process by which banks create money is so simple that the mind is repelled.” – John Kenneth Galbraith, Money: Whence it came, where it went – 1975, p29.
Whoa. What did he say? The banks create money? Haven’t you always thought that the government did that? And why would complexity be deliberately used to “disguise or evade the truth” about money? Why would economists want to “disguise or evade the truth”? What process of money-creation would repel the mind? Who benefits from all this intrigue, evasion and deception? Who profits? Who gains? Who loses?
We are going to answer those questions right here, and in a way that any motivated Middle School student could understand within a few hours of guided study. Let the experts figure out the problems of money and economics you say? Do you really think that is going to happen? It hasn’t happened yet, and it is unlikely to happen, because those with huge vested interests in keeping things as they now are will not let it happen.
Yet the USA, and the rest of the world, is caught up in a vortex or whirlpool of downward spiraling prosperity and economic well-being. Poverty is rising worldwide, and even in the wealthiest nations. Mass denial about the seriousness and causation of the economic crisis exists everywhere. People think that if they don’t think about it, it will just go away. People think that it is just a natural self-correcting economic cycle.
But people are generally wrong, and will tragically pay dearly for their denial, and their refusal to take corrective steps or actions.
Coming up! Answers to: “What did he [John Kenneth Galbraith] say? The banks create money? Haven’t you always thought that the government did that? And why would complexity be deliberately used to “disguise or evade the truth” about money? Why would economists want to “disguise or evade the truth”? What process of money-creation would repel the mind? Who benefits from all this intrigue, evasion and deception? Who profits? Who gains? Who loses?”