So they developed a government program meant to stop money laundering that now ensures that tickets and other sales at the Vatican can only happen in cash- which- by the way- cash is the traditional means by which money is laundered.
This is why the EU is unable to pay its bills or the United States can’t cut taxes without taxes actually going up. That’s why at a time when we have $6 trillion in liquidity, the money is not circulating around the system. There’s more money in the system than there ever has been since the beginning of mankind. .
And the money is stagnant not because of greedy bankers or greedy investors or speculators.
It’s because of greedy government.
It’s because conditions to keep money moving are terrible. There is confusion, there is government hostility to profits and business; there is rapacity in our governing class that’s beyond anything in memory.
Here’s another fact. At no time in human history have more people moved out of poverty than they are doing right now says Herbert E. Meyer, according to our friend and Forbes columnist, Jerry Bowyer.
“It’s going to be a five billion-person middle class,” says Meyer. “This will become the most powerful force in the world. Their demand for our goods and services will set off an economic boom…I believe that we’re heading for not just a sonic boom, but maybe a supersonic boom.”
So far that boomlet has failed to reach the United States, or the European Union. China doesn’t have competence or good government on its side; just raw numbers.
The question becomes then: Will the US just be a passive spectator in the middle class revolution that we created 236 years ago? Will we be the IBM of countries?
IBM, the largest computer company in the world going into the 1980s should have dominated when computers became ubiquitous. Instead they became barely relevant. They are just Brand Whatever.
The folks at IBM, like the folks in government now, became more concerned with the corporate culture and corporate control than competition.
But here’s the really bad news for the folks back home in Peoria: With five billion people entering the middle class and six trillion dollars in the bank, there still isn’t anything decent to watch on TV.
(An important interview) Saving the Net from the surveillance state (And Crony Media): Glenn Greenwald speaks up (Q&A) | Nick Sorrentino