A Universal Basic Income is Essential and Will Work

EDITOR’S NOTES:

World Federalists,

What Ellen Brown (a friend of the Earth Federation Movement) isn’t saying in her article is that the idea of the government “printing” money as the need arises, was first outlined by the World Constitution & Parliament Association (WCPA) when it drafted the Constitution for the Federation of Earth (CFE) over 30 years ago for world government. This method (WCPA termed it “debt-free” credit and currency), now successfully used by China, was “invented” many years ago by the WCPA as it drafted the world constitution. Why? They wanted a means to fund poor nations and poor people in general. So the CFE outlined a Central World Bank owned and controlled by the World Parliament/Earth Federation government which would issue “money” as needed to bring poor nations out of poverty.

Article originally published by Global Research

“Where will the government find the money?” is no longer a valid objection to providing an economic safety net for the people. The government can find the money in the same place it just found more than $5 trillion for Wall Street and Corporate America: the central bank can print it. In an April 9 post commenting on the $1.77 trillion handed to Wall Street under the CARES Act, Wolf Richter observed, “If the Fed had sent that $1.77 Trillion to the 130 million households in the US, each household would have received $13,600. But no, this was helicopter money exclusively for Wall Street and for asset holders.”

“Helicopter money” – money simply issued by the central bank and injected into the economy – could be used in many ways, including building infrastructure, capitalizing a national infrastructure and development bank, providing free state university tuition, or funding Medicare, social security, or a universal basic income. In the current crisis, in which a government-mandated shutdown has left households more vulnerable than at any time since the Great Depression, a UBI seems the most direct and efficient way to get money to everyone who needs it. But critics argue that it will just trigger inflation and collapse the dollar. As gold proponent Mike Maloney complained on an April 16 podcast:

Typing extra digits into computers does not make us wealthy. If this insane theory of printing money for almost everyone on a permanent basis takes hold, the value of the dollars in your purse or pocketbook will … just continue to erode …. I just want someone to explain to me how this is going to work.

Having done quite a bit of study on that, I thought I would take on the challenge. Here is how and why a central bank-financed UBI can work without eroding the dollar . . .