BRICS
Learn #MMT
Warren Mosler
(http://www.collectedworksofwarrenmosler.com/)
Randall Wray
Randall Wray: Dirua hasiberrientzat
Randall Wray: Egin al dezakegu diruak guretzat lan egin dezan?
Randall Wray:
Jadanik aipatuak:
Randall Wray: dirua hasiberrientzat (elkarrizketa)
“Whaever is doable is financially affordable”, alegia, “Egingarria den edozer eskuragarria da finantzen aldetik.”
Randall Wray: nola MTM-k mundua salba dezakeen (elkarrizketa)
“Whar matters is resoursez, not money”, alegia, “Axola duena baliabideak dira, ez dirua.”
Hona hemen informazio pixka bat gehiago:
a) Randall Wray: Nola MTM-k mundua salbatu dezakeen
b) Randall Wray: MTM hasiberrientzat. Politikari baten gida
Segida:
Even the Washington Post now admits that the ballyhooed Ukraine “counteroffensive” has utterly failed. The truth Americans aren’t told is that the Ukrainian army is near collapse.
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Vladimir Soloviev tells Scott Ritter what Putin is really like
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BRICS is already larger than the G7 in world share of GDP.
BRICS may admit 40 more countries in Africa, Asia, and Latin America to the mechanism.
Naysayers of BRICS will eat their words. The fall of US hegemony is closer than you think
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The Burning Archive@ArchiveBurning
This whole interview is a must-watch, especially the last few minutes on the derangement of cultures by Western elites. Thank you and well said,
@tonykevin. “What thou lovest well will not be reft from thee” #Russia
Aipamena
George Galloway@georgegalloway
10 h
INTERVIEW: How did Australia become such a slavish servant of the US and against its biggest trading partner China? ‘We’ve become an easy lay,’ responds former ambassador Tony Kevin Follow @MoatsTV #TonyKevin #US #Australia #Biden https://twitter.com/i/broadcasts/1
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JUST IN – Everything you have been told about Ukraine defeating Russia is a lie. Here, Colonel Douglas Macgregor tells @TuckerCarlson why the #Ukraine war must end now.
WATCH
Bideoa, hemen: https://twitter.com/i/status/1693771292619460899
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.@GGreenwald: “There’s no question that the war in Ukraine has radically changed… The much-vaunted Ukrainian counter-offensive… is a failure…
At this point, debates over who is to blame for this war barely matter. All that does matter is the question of how this will end and who will end it.
It is simply becoming unsustainable—politically, economically, and morally—to justify having Western nations pour their resources into fueling and continuing this war that Ukraine has less and less chance of winning…
The failed nature of this mission HAS to compel a reevaluation of perspective and policy; the last thing this war is doing is protecting Ukraine and Ukrainians.
It is destroying both of those, while imposing suffering among everyone in the US and Western countries other than a tiny sliver of arms dealers and intelligence agencies. In other words, the war in Ukraine is following exactly the same pattern of almost every other US war fought over the last 50 years.”
Full episode: https://rumble.com/v3a3sbr-system
Bideoa, hemen: https://twitter.com/i/status/1693987584081641626
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BREAKING: BRICS New Development Bank Chief Dilma Rousseff says the BRICS Bank will accept 4-5 new members, with oil superpower Saudi Arabia
seeking to join earlier this year.
BRICS New Development Bank Membership:
Brazil
Russia
India
China
South Africa
Bangladesh
UAE
Egypt
Uruguay
(officially in the process of joining)
As of May 2023, the BRICS Bank has lent $33 billion to 96 infrastructure projects
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“Algeria has categorically refused to open its airspace to any foreign forces to carry out forceful intervention in Niger…”
According to state radio, Algeria rejected France’s request to utilize Algerian airspace. France sought to use the country’s airspace for military intervention in Niger. intervention in Niger.
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George Galloway@georgegalloway
This is no less than the MOST important interview you will EVER watch. Unless it’s heeded and quickly.
Aipamena
Tucker Carlson@TuckerCarlson
19 h
Ep. 18 Into the abyss: Colonel Douglas Macgregor tells us why the Ukraine war must end now.
Bideoa, hemen: https://twitter.com/i/status/1693761723230990509
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George Galloway@georgegalloway
INTERVIEW: How did Australia become such a slavish servant of the US and against its biggest trading partner China? ‘We’ve become an easy lay,’ responds former ambassador Tony Kevin Follow
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BREAKING: Algeria
has denied France’s
request to use its airspace for a neocolonial military intervention against Niger
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As #BRICSSummit2023 gets underway, there’s a real sense of hope and excitement that the age of Divide and Conquer may be coming to an end to be replaced by Unite and Prosper.
The dominance of the #US Dollar has crippled developing nations. I discuss the alternative
Bideoa, hemen: https://twitter.com/i/status/1693671903209164837
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Straight out of the Silk Road Empire Hotel in Samarkand, Dimitri and I get on board the BRICS high-speed train – and beyond.
Let’s roll.
Algeria refuses French overflight for Niger military operation
Algeria has refused a French request to fly over its airspace for a military operation in Niger, state radio Yeni Şafak said late on Monday.
Algeria opposes any foreign military action in Niger and favours
France has about 1,500 troops in Niger that were stationed there before last month’s coup. It is not clear what military operation Algeria was referring to, but France has not said it would intervene militarily to overturn the military takeover.
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Russian Embassy, UK@RussianEmbassy
FM #Lavrov: #BRICS is seen as a positive force that can strengthen the solidarity of the Global South and Global East and become one of the pillars of a new, more just polycentric world order.
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Russian Embassy, UK@RussianEmbassy
FM Sergey #Lavrov: Attempts of the “collective West” to preserve its own hegemony have an exactly opposite effect. The intl community is tired of blackmail and pressure from the Western elites and their colonial and racist manners.
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Going Underground@Gunderground_TV
GDP of countries that have applied to BRICS:
Algeria $206 billion Argentina
$641 billion Bangladesh $420.5 billion Bahrain
$44 billion Belarus
$79.7 billion Bolivia
$43.2 billion Cuba
$107.4 billion Egypt $378 billion Ethiopia
$156 billion Honduras
$31.7 billion Indonesia
$1.39 trillion Iran
$367.9 billion Kazakhstan
$236 billion Kuwait
$164.7 billion Morocco
$138.7 billion Nigeria
$504 billion Palestine
$19 billion Saudi Arabia $1.06 trillion Senegal
$27.6 billion Thailand
$574 billion UAE $498.9 billion Venezuela
$96.6 billion Vietnam
$449 billion
Maria #Zakharova: The fact that Switzerland
joined the 11th package of illegitimate EU anti-Russia sanctions did nothing but confirm the obvious: this country has deviated from the principles of neutrality.
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Video message from President Vladimir Putin in honor of the Day of the State Flag of Russia
“We have a special relationship with the white-blue-red banner – this is our official state flag, which was approved in this capacity by Peter the Great.The tricolor flag was again raised over our country on August 22, 1991.
With this flag, we overcame many difficulties and trials, but, in fact, restored the sovereignty of our country. Russia is a thousand-year-old country and civilization. Our national flag is a symbol of our unity.
I am sure that the national flag will always inspire us to go only forward, to victory, to assert the glory of Russia,” the President said in his congratulatory speech.
Bideoa, hemen: https://twitter.com/i/status/1693750539169693976
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Scott Ritter Extra Ep. 91: Ask the Inspector
Scott Ritter
Scott Ritter Extra Ep. 91: Ask the Inspector
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Russian Embassy, UK@RussianEmbassy
FM #Lavrov: #BRICS significance and ability to influence global agenda are determined by objective factors:
The 5 countries account for over 40% of global population;
Their territories exceed quarter of world’s land;
In 2023 BRICS states are expected to share about31.5% of global GDP, while G7 has fallen to 30% in this indicator.
Read the article “BRICS: Towards a Just World Order”:
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PUTIN DOES BRICS (riotous applause in the room)
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De-Dollarization among BRICS is IRREVERSIBLE.
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Russia reorienting transport and logistics to reliable partners, including BRICS nations.
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Increasing supply of fuel, food, and fertilizers to the Global South.
- Will return to the Black Sea Grain deal – should Russia’s requests be met in full.
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On August 22, Russia celebrates National Flag Day.
#OTD, we pay tribute to the official state symbol of Russia, which, along with its emblem and anthem, marks its sovereignty and independence.
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Afshin Rattansi@afshinrattansi
Russia’s Putin speaks at BRICS – his speech effectively banned in Europe by NATO-nation corporate media while the channels broadcasting it live are silenced because of mass censorship of Global South TV stations in the EU/UK.
Aipamena
Cynthia McKinney PhD@cynthiamckinney
14 h
Putin is now speaking at the BRICS Business Forum!!!! He is railing against The West and its responsibility for increasing unemployment wracking all of the world at the moment. See the LIVE coverage!!!! https://youtube.com/watch?v=52zepz
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Algeria stands firm and rejects France’s request to fly over its airspace for a military operation against Niger. Algeria hasn’t forgotten the brutality of French colonialism.
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Scott Ritter Extra Ep. 91: Ask the Inspector
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erabiltzaileari erantzuten
When was the last time a non-incumbent had an insurmountable lead going into the first debate of the primary season? It sort of negates the need for a debate, since the people have apparently already made up their minds
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Going Underground@GUnderground_TV
Brazil’s President Lula Da Silva ahead of BRICS summit: ‘We were always treated as if we were the poor part of the planet, as if we didn’t exist’, adding ‘suddenly we are realizing that we can become important countries’. Brazil’s GDP is expected to hit $2 trillion this year.
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7 years ago, I warned in an Australian publication that the West’s dreams of regime change in Russia were based on the flawed assumption that Putin was anti-West. – Putin was the pro-Western alternative.
lowyinstitute.org
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Foreign Minister Sergey #Lavrov takes part in the BRICS Ministerial meeting. 
Johannesburg, August 22, 2023
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Going Underground@GUnderground_TV
Russia’s President Putin at BRICS Summit: De-Dollarisation among BRICS nations is IRREVERSIBLE
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“The US has become the biggest threat and challenge to regional peace and stability.”
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Transfixing interview. Under Tucker Carlson’s intelligent questioning, Col Douglas MacGregor convincingly sets out his whole considered perspective on what is going badly wrong with the US . As he said – this must end, and soon.
By
Aipamena
George Galloway@georgegalloway
20 h
This is no less than the MOST important interview you will EVER watch. Unless it’s heeded and quickly. @MoatsTV twitter.com/tuckercarlson/
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Iran is considered by the Russian Federation as one of the key states in the Middle East – it is a strategic partner of Russia, and constant intensive political dialogue is a characteristic feature of the current stage of our partnership,” – Commander-in-Chief of the Russian Ground Forces Oleg Salyukov.
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President Putin: The tricolour was hoisted over our country again on August 22, 1991. We have overcome many hardships and ordeals with this flag flying overhead, but in essence we have restored the sovereignty of our country
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“De-dollarization is irreversible.” – Putin today at BRICS Summit
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The world situation has become more complicated due to the destructive stance of the West, thus making the role of inter-party diplomacy increasingly significant, Russian Foreign Minister Sergey Lavrov said:
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#LIVE: President Vladimir Putin takes part in the XV BRICS Summit via videoconference.
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Jackson Hinkle @jacksonhinklle
“China’s economy is an Ocean not a puddle. Sometimes Ocean is calm, sometimes stormy. Change of weather can wipe out a puddle but Ocean will still be Ocean. China is eternal” – Xi Jinping
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Russia in South Africa @EmbassyofRussia
FM #Lavrov: #BRICS is a symbol of true multipolarity and an example of honest inter-State communication.
Within its framework, States with different political systems, distinctive value platforms & independent foreign policies effectively cooperate in various spheres.
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FM Sergey #Lavrov: The place and significance of #BRICS today and its ability to influence the global agenda are determined by objective factors.
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Commenting on the West’s decision to supply F-16 fighter jets to Ukraine, the Russian Security Council’s deputy chairman Dmitry Medvedev advised Europe against becoming too carried away with its “toy plane games”: https://vk.cc/cql6RK
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#Opinion by Maria Zakharova
went as far as to refer to Russia’s withdrawal [from the Grain Deal] as an “act of cruelty”. How ludicrous of them to talk about cruelty when they are the main arms suppliers to the conflict zone.
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Russian Embassy, UK@RussianEmbassy
MFA Spox #Zakharova’s comment on the 
decision to include the Foundation for Supporting and Protecting the Rights of Compatriots Living Abroad on the sanctions list.
Read in full: https://mid.ru/en/foreign_policy/news/1901097/
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Russia in South Africa @EmbassyofRussia
FM Sergey #Lavrov: According to experts’ forecasts, in 2023 the five #BRICS countries will account for about 31.5 percent of global GDP (at purchasing power parity), while the share of the G7 has fallen to 30 percent in this indicator.
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That’s the relity of the post-truth world imposed by the Western Mainstream media
Aipamena
Benny Johnson@bennyjohnson
14 h
Tucker Carlson finally SNAPS on Ukraine approved narrative: “Everything the media has told you about the war in Ukraine is a lie.”
Bideoa, hemen: https://twitter.com/i/status/1694030446504370199
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Stephanie Kelton@StephanieKelton
“Treasury securities are not necessary unless the government wishes to support higher long term rates. Short term rates could be maintained simply by paying interest on excess reserves held at the Fed.” ~
1996
Comments on the Current U.S. Budget Debate
“We all agree on the problem….”
(https://www.epicoalition.org/docs/comm.html)
The assumptions underlying the current budget debate are erroneous. Historical analogies include “the earth is flat” and “the earth is the center of the solar system.” Chicken Little has returned, and the consequences are counter agenda for all parties.
The noble attempt by Congress to balance the budget will result in a weaker economy with a true depression a possibility. Every time there is a drop in the budget deficit, as a percent of GDP, the GDP growth rate drops a few quarters later. It is only after the deficit begins to expand again that the economy recovers. The historical correlation is 100%. Lowering interest rates, in an attempt to boost the economy, is seldom effective. Since the government is a net payer of interest, lower rates reduce spending, thereby increasing fiscal drag.
Governments are monopoly issuers of fiat currency. The incorrect , but prevalent, understanding is that issuers of fiat currency must tax, borrow, or otherwise raise revenue so they can spend it. Taxing and borrowing are considered “funding” operations. Consequently, the discussions revolve around how governments can raise “needed revenue” to fund spending. Revenue shortfalls are of great concern; witness the latest government shutdown.
Contrary to general perception, fiat money is driven by the fact that taxpayers need the government’s money to pay their taxes. By levying a tax, the government creates a need for its fiat currency. It creates this need, presumably, so it can obtain the real goods and services it desires via the spending of its currency.
From inception, the only source of money needed to pay taxes is the issuing government. The government cannot actually collect the tax it has levied, nor borrow any of its fiat currency, until it first spends, or otherwise provides, the funds.
A balanced budget, from inception, is therefore the theoretical minimum that a government can spend. The previous statement represents an accounting identity. If individuals and businesses desire to hold actual cash, that money must be “left over” after taxes are paid. All cash held by the public must be money provided by the government in excess of the need to pay taxes (deficit spending). This is also true for all dollars held by foreign central banks at the Fed. For these, and other structural reasons, the possibility of a balanced budget does not exist, and the current attempt to balance the budget will likely result in severe deflation. When the government does not spend enough to cover the total need for dollars created by taxes, the usual result is a recession and a concurrent shortfall in revenues. A deficit remains. Accounting identities have a way of being satisfied, one way or another.
Likewise, the government can borrow its currency only after it has provided it to the private sector. Government borrowing, therefore, functions to support interest rates, not as a funding operation. Nominal savings is not diminished, nor displaced – it is given a place to earn interest. If the government were to spend more than it subsequently collected in taxes, and did not offer securities for sale, the fed fund rate would immediately fall to 0% bid. Treasury spending is a reserve add. Selling securities, by the Fed or Treasury, is simply a reserve drain, a monetary operation. This underlies the empirical evidence that nations can run any debt ratios they want, in their own fiat currencies, and still “fund the debt.”
For all practical purposes, there is no such thing as a balanced budget. Singapore, for example, shows a budget surplus, but that does not include all government spending in excess of collected taxes. The central bank spends Singapore dollars to buy foreign currencies. This “off balance sheet” spending brings the consolidated spending to about 2% higher than collected taxes. The same happens in Czechoslovakia – fiscal policy is tight enough that the only way to get enough local currency to pay taxes is selling foreign currencies to the central bank. When the central bank makes the taxpayers “beg”, as evidenced by currency appreciation, the economy gets softer (Japan is another good example).
Consider inflation. Because the taxpayers need the government’s money, the government is able to define its currency by what it pays for goods and services. By changing what it pays, the government redefines its currency. Currently, the government fights inflation by maintaining an economy weak enough for the private sector to be under pressure to sell goods and services. This selling pressure keeps prices from rising.
How large a deficit is prudent? Let the market decide! This option has not even been considered. For example, the government could offer a job to anyone who wanted one, at some minimum rate of pay deemed appropriate, and let the deficit float. This would end unemployment and unemployment compensation, eliminate the need for minimum wage laws, and promote price stability. Employment (rather than unemployment) would define the currency and become the stabilizer. The price of labor would be stable. Private sector wages would be related to the benchmark of government employment. If the government labor force were larger than needed by the government, taxes could be lowered. This would result in fewer government workers and reduced government spending as the private sector hired these workers.
The Fed sets short term rates. Congress has ultimate control over the Fed. Short term rates go up because the Fed, and ultimately Congress, wants them to – not because of market forces. These rates are not determined by market forces. Treasury securities are not necessary unless the government wishes to support higher long term rates. Short term rates could be maintained simply by paying interest on excess reserves held at the Fed.
The Federal debt is all the money spent but not taxed. It was borrowed after it was spent, so the holders of the money might earn interest. The government pays interest, voluntarily, depending on how much it wants savers to be able to earn. Have you ever heard an owner of government securities say, “I wish the government would stop selling securities so I can get my money back!”?
The current budget debate is based on erroneous assumptions. Washington does not understand fiat money. Until it does, efforts to reduce the deficit will continue, and the economy will continue to underperform.
Warren B. Mosler
January 1996
