Updates on the insane world of money and power - neverhadaboss.com . . .
By Erik Wallbank - February 26, 2025
Judy Shelton just gave a good interview on Liberty Finance. I call it a good than a great interview because she didn't go far enough. As when Alan Greenspan was asked if the Fed ought to to be abolished, he gave a lukewarm yes, Judy offers some equivocation. The 2 largest US trading partners are Mexico and Canada, and, as of this morning the 25% tariffs on each are back. Shelton acquiesces to that idea because their currencies have depreciated about that much against the dollar making their US exports, less expensive. Did they cause currencies to depreciate? Ought they be accountable?
An accountability analogy is seen prior to the invasion of Ukraine. Ukraine created the conditions for Russia to invade—then backed away from an agreed-upon peace-plan just before the slaughter began. Biden predicted the invasion date, knowing that Ukraine was massing troops along Donbas—preparing for Ukraine to invade Donbas. Ukraine's provocation against Donbas was part of a strategy to get entry into NATO. Putin took action — legally. Invading to stop NATO expansion would have been illegal. But invading to save the lives of those being murdered is legal under the UN Charter. So, what is the analogy to Shelton's interview? The proposals, so far, to end the conflict have been mostly inane — a patch job that can only be rectified by acceding to Putin's reasons for invading. An agreement could have a larger scope, including a missile treaty/overall regional security—but Russia will not abandon its national interests.
On to the tariffs. Trump loves tariffs so, he will sugar-coat them. If he does, it will be in support of 50 years of patch-job, US foreign policy, with responsibility for much of the worlds ills. Instead, the world needs free debate where the real questions are asked. Are China/Russia/Iran, responsible for terror? Which of their actions are to do with anti-colonialism? How much US hatred for China has to do with China's success, and consequent threat to US hegemony? Who is responsible? We need an open debate. Assuming US foreign policy supports the US (and no-one else), are these policies legal (under law of the land)? The EU/Commonwealth have no constitutions to measure against, but the US does — which US foreign/domestic policies are constitutional? Begin with the dollar. The founders saw the dollar as a fixed measure — to be specified by an amount of precious metal. Why did they want that? Fixing the currency to precious metal made for a fair playing field, where savings mattered, and business investment planning — predictable. A dollar, measured by gold/silver, came with stability. Instead, with usurpation of founder's intent — commerce clause used as a power transfer to federal government, installing the Fed, in 1913 and abandoning the gold standard, subjected the republic to economic unraveling. We're told that under the gold standard there were upheavals, but gold-related fluctuations were manageable and self-sorting. Unlike now, when the economy is a runaway bus with patch-job tires. And, it gets worse—almost by the day. Why is there no money for small business to borrow? Since 2008, interest has been paid on bank cash parked at the Fed. Since 2022, banks are being paid high interest to not loan cash. These are mile markers on the road to ruin. When prior lunacy fails — wealth transfer to elites requires increases.
The dollar has nothing to do with a mission for providing jobs, or setting inflation goals (each is a way to provide debt relief from bad decisions made by government). The dollar is to provide consistent insurance for the preservation of the citizen's wealth. Judy Shelton shared the derivatives of 2 words today. The 1st is fiat — the word to describe a king stating that a currency unit is worth a certain amount because I say so. The 2nd word is radical, also from the Latin—meaning root. The next time you hear
someone referred to as a radical, consider it might refer to a root cause — metaphorist. Then consider the Fed (local favorite central bank) — and its supposed 1/2/3 man-dates — each shifting a mission so as to save them from bad decisions. It doesn't matter what the mandates are because they are unconstitutional, likely treasonous actions. Sounds a bit harsh— but it's not. Anything that is a deliberate transfer of mandated power — from the citizens to the federal government strikes at the heart of the republic.
Whether it be through made-up departments, Commerce/Education, or made-up agencies FBI/CIA/HS, none of which exists under the law, and owes existence to scurrilous notions that elite decrees rule, and the Constitution needs re-worked to that end. I just wish that most of the changes happening in the domestic United States paralleled actions taken or contemplated by Trump on the global stage. Forget auditing the Fed — the Fed needs to go as unconstitutional. Trump might actually be in favor of that. But the US can be saved only through truncating the size of government, cutting costs, and increasing productivity. Through I haven't taken the time to go through it yet, the $4.5T tax cuts are likely another wealth transfer to the 1% (what we used to term trickle down). Keep in mind that tax cuts not promoting general welfare turn into debt.
Any chance for the US economy to not collapse is in a smaller defense budget and reduced welfare state. To accomplish this, Trump needs to critique his basic assumptions about hegemony— and developing working relationships with supposed enemies. How do we fix this? We have The Constitution, written on 2 broadsheets — simply stated/self-explanatory except to those with intentions of stripping our liberty. The Trump Administration needs to go through those 2 pages, world by word, to rid ourselves of commissions/agencies/bureaus/policing with no mandate under the law. Same thing with the Amendments: go through them 1X1 (more important than DOGE), discover which freedoms are under attack—and which agencies are responsible for it.
Forget about tax cuts and reforming the IRS. The country, even with limited government needs tax dollars, but make it simple—something like: at the point of transaction. Much of my writing this past decade is found in my fiction. I just finished re-writing 3 novels, The Ride, The Audit, If Only by Chance . Free to readers and worth the read, but written as Love/Thrillers — not to be confused with stories told by a Church Lady.
My site: neverhadaboss.com . . . Subscribe for my articles: erik@neverhadaboss.com.
