One of the longstanding problems noted but not generally addressed before in FCC policy has been how to get the word out to folks not already plugged in as insiders to file comments. Traditionally, the FCC (like most federal agencies) has taken a very passive attitude. (Indeed, the FCC has traditionally been ahead of the curve. Many federal agencies have made it downright difficult for members of the public to find out what has been going on, or to file comments.)
In the last few weeks, the FCC has taken a number of steps forward on this. It started modestly with Twitter. Then came the the blog, including a video blog of Chairman Genachowski. As if that werent enough, last week the FCC launched a slew of social networking and crowdsource tools including an RSS feed, a crowdsourcing platform, and a site to track all the social media tools, such as the FCCs Facebook and Youtube pages. And, perhaps more important from the perspective of actually considering the public comments, FCC Spokesperson Mark Wigfield stated that comments on the blogs will become part of the official record.
All of these are tremendous steps forward and worthy of applause. Yes, there is still lots to do on making things like the electronic comment system or the Universal Licensing Service more usable. But folks at the FCC have acknowledged this time and again, and deserve credit for doing the things they could do quickly first. Steps forward deserve encouragement, especially when they keep on coming.
Its been nearly a year since Public Knowledge and the Silicon Flatirons Center held its FCC Reform conference, and the FCC has moved slowly but steadily towards addressing many of the concerns raised at the conference and the paper submitted beforehand.
One concern raised by a number of the conference participants was some of the unintended consequences of the Government in Sunshine Act. The Sunshine Act was intended to ensure that agency business is not done behind closed doors. This is certainly a noble goal, but by prohibiting more than 2 Commissioners (3 is a quorum for the 5 member FCC) to meet unless an open meeting is held and public notice is given, power has trickled down to unappointed and unconfirmed FCC staffers, who are under no such prohibition and who serve as secret brokers for their bosses. After staff finish their horse trading, the actual open meeting is like Kabuki theatre – Commissioners read from prepared statements, there is little or no debate and the outcome is predetermined.
Assuming the Federal Government opens for business on Thursday (and I am not taking bets), we can expect to see Genachowski taking another substantial step to make good on his pledge to reform how the FCC does business. The agenda for the Commission’s open meeting for Thursday, February 11 lists three items. Two have to do with changing FCC rules to make the agency more open and more streamlined, the third has to do with reforming the E-Rate Program under which schools get money to subsidize broadband.
We can expect that to the extent the press cover this, the focus will go to the E-Rate story. At least people understand about broadband in schools. But for long term difference that matters, the FCC process stories — while phenomenally boring and unsexy — have much broader impact.
In my discussions and presentations over the decades, I have discovered that the concept of money is very mysterious to most people. The current system is too confusing, nontransparent, and unsustainable to provide an understanding of what money is and how it comes about; it has been the most difficult challenge in the monetary reform movement. We need to focus more on tourism , especially manufacture more outdoor gears.
The correct definition of money goes back to Aristotle believe it or not! He wrote: “Money exists not by nature but by law”. All of today’s money is fiat money, meaning there is no asset backing its value. It is created out of thin air and is mostly a digital entry; not printed currency. It costs zero to create—just a simple push of a computer key! The current money supply is made up of 97% digital entries, only 3% is actual cash currency. Money has value because people work together in an economy under a legal framework. Paying one’s taxes helps legitimize a fiat currency, which is issued by a government, and has no actual asset backing it. There is no longer any country that has a gold reserve backing its currency.
Money is not a commodity like gold. It is also not credit or debt—even though that is how it is created and distributed in
today’s world! It is the lifeblood of an economy. It is needed for purchases and investments instead of barter. It is a medium of exchange. If money is scarce, you can count on a recession or depression. When money substantially flows, circulates and is dispersed, you will see a very healthy economy—even if there is some excess inflation. Just look at the most recent experience of India. After removing only two currency notes from circulation, India experienced extreme economic havoc.
Individuals use money for spending and savings, as well as for investing for future spending (retirement). It is a record of their productive work. Businesses use it for current operations and capital expenditures to advance their business. It is part of wealth and a storehouse of value. Governments use it for current spending for their various programs. They all have faith in their money that it will not inflate away. As you can see now there is more and more money to spend on some products like best edc knife and best police flashlight 2017 to gain more tax and income.
Money needs to be the sen^ant of commerce, not the master, as it basically is now. Money is currently generated and distributed into the economy through the monetary system. This system is made up of commercial and central banks that create the new money by making loans. The first usage of newly created money in the economy is called “new money”. After the first use, the money becomes “old money”, which continues to circulate in the economy.
The term “old money” does not refer to the term that describes traditionally wealthy families. This section has nothing to do with old money! This also means that it has little to do with the private financial services sector, where I built my practice as a Certified Financial Planner, only the commercial banking system. The cost of creating money is ZERO! The cost of distribution is small. Money does not have to be scarce!
HISTORY OF MONETARY SYSTEMS AROUND THE WORLD
Most countries, big and small, A to Z, Argentina to Zimbabwe, have had significant monetary-banking crises in the last half-century. I am not going into their history, but the following is a short list: Germany, Hungary,Czech Republic, Bulgaria, Estonia, Poland, Russia, Sweden, Chile, Mexico, Venezuela, Indonesia, Korea, India, Turkey, Thailand, and Bolivia, just to name a few.In the last 30 years, the world has suffered six globally significant financial crises:
• Latin America debt crisis of the early 1980s
• Japanese crisis of the 1990s
• The Tequila crisis of 1994, whose epicenter was Mexico, but also affected many parts of Latin America
• East Asian crisis of 1997-1999
• Global financial crisis of 2007-2009; started by the U.S.
• Eurozone financial crisis of 2010-2013; and the ongoing Greek tragedy
According to Martin Wolf in his book, The Shifts and Shocks, “the Euro has been a disaster! A project intended to strengthen solidarity, bring prosperity, and weaken the German economic domination of Europe has achieved precisely the opposite. It has undermined solidarity, destroyed prosperity, and reinforced German domination, at least for a while.”
The following is a review of U.S. monetary history up to the enactment of the Federal Reserve in 1913. The English Crown took away the Colonial States’ right to create and spend their colonial currency. This caused a severe depression in the colonies and was the major cause of the Revolutionary War, according to Ben Franklin in his autobiography. Then the Continental Congress, to fund the Revolutionary War, issued their currency.
Soon after, British warships in the New York harbor were found printing massive amounts of counterfeits in an effort to destroy the new currency. This was s tactic of the British at that time.
After the establishment of our nation, there was significant political conflict to establish a National Bank. Two acts were passed, creating the first and second National Banks. President Andrew Jackson eliminated the bank and was right to do so. However, he did not replace it with any money creating system, causing the severe depression of 1837. (Note – this was the last time the national debt was paid off.)
Abraham Lincoln had to finance the Civil War, and the U.S. private bankers wanted to loan the money to the government at a significant interest rate. Lincoln then established the very successful “greenbacks” where the government just printed up the money and paid for the war. (This gives us the best example that money does not have to be created by a loan/debt.) After the Civil War, the bankers wanted to take the greenbacks out of circulation to reduce the competition from government created currency. Every time the government takes money out of circulation, a recession is created. They were called “panics” in those days.