The Real Wealth of a Nation

Mr. Smith thought the best way to produce the maximum number of goods and services would be to feed the greed of the capitalist. He had no way to visualize that the problems in America in the 20th century would be an overproduction of goods and services and a government so impotent in thought that it would not produce an adequate amount of money for exchanging these goods and services. He had no way of knowing that a few producers of goods and services would monopolize production and openly fix prices, making competition just a word. He never dreamed that television advertisements would create images of products that would be impossible to compete against. He never thought that fat, overpaid corporate executives would use a price marker to make windfall profits rather than make profits the honorable way with efficiency and increased production and sales, which would increase everyone’s standard of living and employ more people. He could not have foreseen executives of big automobile companies trying to sell automobiles to foreign countries with steering wheels on the wrong side and then whining because sales were so low. He would never have believed that people could be robbed and the robber could excuse it and go free by calling it inflation (euphemism for theft). He didn’t know that Congress would turn its responsibility over to the banking industry to manage the money supply and allow inflation to destroy it.

At the dawn of the 21st century, Americans are still obsessed by the idea that money is the good or service and not the exchange medium. If politicians could really understand Nature's Basic Law of Economics, they would have no trouble fulfilling the aspirations of the framers of the constitution. Members of Congress have such misconceptions about money that they are not able to see that the constitution gives them three adequate ways to balance the government’s budget: collect taxes, borrow money, and create new money (Article I, Section 8). All three methods provided for in the constitution should be used to maintain a balanced money supply. But Congress has turned its responsibility over to an inadequate Federal Reserve system rather than using its constitutional authority to create the money necessary to bring together the people resources and natural resources to create a wealth of goods and services—and to make these goods and services available to all people by making sure they have a job that provides enough money for quality living. Politicians really don’t understand that the real wealth of a nation is in the goods and services it produces; if they did, they wouldn’t waste people resources on welfare and unemployment.

If the founding fathers could return from their graves for a few hours and take inventory of people resources and natural resources available and see people on welfare and unemployment because of a misunderstanding of the money supply, they would wonder how politicians could be so blind as not to see that there are more than two ways for the government to balance its budget.

The time has come to end deficit spending as a way for the government to balance its budget and for it to create the capital needed to produce the maximum number of goods and services — the real wealth of a nation.

You can help produce an instant mindset change in the year 2001 that will bring a lasting era of peace and prosperity by ordering the book MIXTURISM to find and promote the ideas that will rule the 21st century and beyond.

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