As many of my personal friends already know, I do not support any candidate for public office unless that person clearly identifies their support for the American System of political economy.
The American System has proven itself so many times in history—even with its many faults and failings—that as a historian I can only support candidates for public office who clearly advocate a national bank for creating financial credit for physical production, reciprocal tariff agreements for promoting trade and funding government, and government funding for building infrastructure using private entrepreneurship.
Donald Trump has hinted at a few of these policies but has not clearly identified himself as a promoter of these time proven strategies for economic success.
First, I will say something positive about Donald Trump then, as always, I must be critical because as a historian I truly believe we are living on the edge of a collapsing civilization.
The positive thing to say about Donald Trump is that he has personally been through bankruptcy reorganization multiple times, thus enhancing his abilities to lead our nation through the absolutely required bankruptcy reorganization and extraction of the once illegal financial derivatives that are currently causing a “capital strike” on physical production on a global scale.
A global nominal 2-quadrillion dollars in financial derivatives is absolutely predatory and ultimately unstable.
Agriculture, industry and infrastructure in our nation and in many nations in the world today are being crushed by the deregulation of the financial derivatives that have created the most massive predatory financial bubble in world history. This bubble, like all previous bubbles, will self-destruct and, once again, cause the human suffering that all sane people seek to avoid.
Only candidates who understand the solutions to this unfolding calamity are qualified to be elected to public office. This includes national and local candidates.
The problem with Donald Trump is that he has so far failed to identify even a hint of this unfolding calamity and will most likely as President continue supporting the anti-American System neoliberal world economic order that favors the privatization of public assets, deregulation of governmental influence, taxing individuals instead of corporations and financial cartels, free trade in secret, and austerity measures for public welfare. This dominant agenda is, in fact, nothing but the application of the teachings of the old British East India Company that were used to indoctrinate British Empire subjects and employees.
So is Donald Trump’s experience at personal bankruptcy enough to inform his Presidency as the British System’s derivatives crisis unfolds over time? Probably not. Are any of the leading candidates currently running for the United States Presidency advocating a return to the American System. No.
The best that can be hoped for at this time is a Presidential candidate who will not actively reject the state and local government efforts to prepare our nation for a science and infrastructure-led recovery based on incremental yet workable reforms at the United States Federal Reserve.
A political movement that combines these reforms with a 1% Wall Street sales tax on financial transactions—with a one million dollar per year small investor exemption—to help organize and curb derivatives trading; and in combination with the Congressional reinstating of the Glass-Steagall regulatory standard will be the calling cry of a new political movement that someday will give rise to competent Presidential candidates.
Supporting these requirements while demanding an end to all budget cuts will be the strategic call for uniting a new rising political movement. If you support a candidate, then demand that candidate supports a workable economic agenda based on the American System of political economy.
We do not want to become a nation of austerity enforcers that protects the gambling debts of international financiers. That is the modern definition of fascism and historically represents oligarchy.
The fact is that international derivatives obligations are directly causing the collapse of financial credit for physical production on a global scale. This collapse of financial credit is the root cause of the collapse in government revenues internationally and Alaska is not an exception to this larger dynamic.
It is the collapse of financial credit for physical production on a global scale combined with oligarchic geopolitical meddling that has collapsed oil prices and put Alaska in this crisis.
The solution is not to cut Medicare, Medicaid, Social Security, food stamps, education, health care and infrastructure. This will only cause the effects of the collapse of the credit function to become deadly as the economic crises unfolds over time. The solution is to extract derivatives out of our commercial banking system and restart the financial credit for physical production that rebuilds employment and tax revenues.
Presenting our candidates for public office with these requirements while clearly identifying local infrastructure goals must become the primary focus of those citizen leaders who will lead our candidates into supporting a return to the American System.
If Donald Trump wins the Presidency, or whoever wins the Presidency, that person must be encouraged to realize that the political movement is ready to support the reforms necessary to restart our economic system after the collapse of the derivatives bubble.
The United States was founded as a democratic republic not an oligarchy. Our nation is once again at a turning point in history. The upcoming rapid devaluation of the derivatives bubble will test our nation’s ability to be a democratic republic. Trump or no Trump, we must prepare ourselves for a better future.
