The Wealth of Nations

Once a week, just for fun, The Debt Free Central Bank is equipping a Cannon, not some outdated simple bazooka, in every town, small or big, across the State.The Mighty Cannon, exactly at noon, is shooting free money bills, for kids, gelato, and for the amusement of the gathered.
This is The Wealth of Nations.
In the debt free Wealth of Nations the central Bank and the Treasury are working debt free.. They are preparing for the terrible times of the Climate Change, to make the Society resilient. No private venture Capital can do this job, it is too demanding and with no quick return. It is a Run against the Time, which is running short.
Yes, the Society knows and understand the risks, as outlined in the Chapter before- The Debt of Nations. In the Wealth of Nations, there is no income tax for the poor and the middle, even the rich are taxed only for ethic reasons, there is the universal citizen income for all.The FTT has replaced all this mumbo jumbo. The Tax is just to establish that the currency is negotiable,that is the law of any money.
And YES, they have to follow this Simple Law:
The Export need to Match the Import. If the Import is higher than the Exports, for, let say 5%, there must be an overall taxation of 5% to match the gap. This is called Sound Money.

But, if the Export are higher for, lets say, 5%,the State , having already no taxation pressure, can match this by establishing the Soveriegn Fund and Bank. With the leverage and fractional reserve ( use the tools of your enemy), the Sovereign Bank and Fund can go shopping…. Abroad, bringing more money back and making the Society resilient for the Big One.
Forces of Victory are coming right thru…

The Debt of Nations

We all heard this story, or it was joke, about the Invisible Hand fixing all. Who is hiding this hand or it is , as usual, the best excuse to cover the tracks?

Witchdoctor is outlining the destructurating/ deconstruction of the Base Pillar of the economy driven by debt. This is the foundation on which, macroeconomically , leans all of this house of cards and its perfectly logical quandaries and its logical decline.
The link to get in the mood:
http://heteconomist.com/budget-deficits-and-net-private-saving/
Here we see the analysis and the claim of the Modern Money Theory.
The basic postulate, barren, primary:

Budget Deficit = Net Private Saving

Budget Deficit is equal to the private saving, which includes the entire private sector. So, the country’s deficit ( and debt) means that on the other side there is a surplus- more money in the hands of private individuals (people, companies, …)

Why is this claim at the same time absolutely correct and absolutely wrong (absolutely true / absolutely false)?
It is necessary to analyze the equation. First of all, the equation is biased, it is not an “equal” formula, the State being by law the stronger part. Or, as it seems certain, after the new TTIP it will be not the equal partner, but just the coffee boy.
If, theoretically, a country has a deficit, it means that this deficit and the incurred national debt has remained in the hands of the private sector as its own surplus, because the State has not collected it.

First constatation – the source of the money covering the deficit is an important issue (follow the money) for the the funding. If this deficit is covered by the State Central Bank, this money is staying in the same circle of participants. If not, this deficit is only a temporary money inflow in the circulation, but it is a foreign credit -money , it is a money supply based on foreign credit and it bears a compound interest repayment.Or it is a bank money with dubious return as is happening, leading to domino default.This is the Eu situation.So, this new money is only a temporary surplus of the private sector, with a logical projection of the increase of the debt and has to be recovered through even higher taxes (and this is a cat chewing its tail situation), which lead into more taxes, debt and recession.
Second constatation.
The deficit is a result of not enough high taxes to cover the State budget. Here is the next dilemma. Does this means that the state does not collect enough taxes because if they pick up and collect all the necessary taxes the private sector will collapse due to its non competitiveness ? So, the no charging of all the taxes is therefore a hidden financing of the private sector, which is ergo unable to stay on the market without this hidden “credit” (and the debt then doubles in time -as a government debt and corporate debt in the final stage).
The third complication. The country has a deficit because it is incompetent,too big, inefficient, in short, it is a Pig.Then the State deficit is not the way of making hidden loans to businesses and the households, which (this hidden loans) make the business and household competitive and financially viable.
It may even occur a common EU or Wherever syndrome (the fourth complication), when the state deficit- is a RESULT of the swine nature of the country-dysfunctional and hungry, and on the other hand, the private sector is also unable to compete due to its own internal lousy cost effective structure . The Default situation.
So this beautiful law on paper is equally flawed in practice, and is only an equation that applies to pure accounting that does not say anything more specific.
This equation has an embedded, hidden law: there is a State deficit which comes in existence as debt, and has to be repaid. So, the food chain of the financial parasitism keeps on forever. The “not to be preoccupied” mood and easiness of accumulating debt is just a way to leave the things in the debt driven economy as they are.The debt keeps feeding the swap,cdo, securization, new leverage and all kinds of bets- derivatives attached to it. It is real Money somebody is pocketing, absurd as it sounds, but it is. A completely apologetic, reactionary way to sell a theory as something revolutionary, a mere spin. Based on the fact, true, that the current model needs the extra financing- extra money from “somewhere” to survive. Like the currency adjustments, more debt…
And the additional complication :
Suppose we have a nation that is slim and promptly adjusts the deficit, which is (the deficit) really a hidden way of financing private enterprises (less taxes-more income) However, in the system of global competition this country is forced to constantly regulate its income down by less taxes, as the private sector is equally forced to constantly regulate prices and costs down.
We have the current global competition situation which mathematically forces all participants to regulate taxes (the State) and business (the costs) down and more down , to the poor and more poor environment.
This road downhill, forced on the World, is a pure mathematical illusion in which anybody can win by cutting everything , every day , forever. The complete depletion of the planet and all wealth, as a last stop,
the last exit,or , we can start talking about
The Wealth of Nations

It takes Two to Tango

Witchdoctor was walking. There were persons walking towards him, Some were completely covered with a cloth dress , from head to toes. Witchdoctor started thinking and speculating. They want their privacy badly, they want to be ignored, they are shy,maybe very insecure,personality problem, they are so beautiful or emanate such power or something to drive WD into perdition and are afraid that Witchdoctor will faint at the sight, or get frenzy,or… absolutely nothing.
It takes two to tango thought Witchdoctor, thinking of his baren face and legs.So, If they want to be ignored, then WD has to ignore them, because it takes two to tango.
And he saw some men walking with this covered figures. The were dressed normally, their face was bare.They were together with. But it takes two to tango, so Witchdoctor decided to ignore them, too.He did not understand the relations, so he just avoided ,walking in a big circle around them. But if they want to start the conversation?
Witchdoctor was thinking…. better avoid it, because it takes two to tango, the relations are not clear.
Then he saw the Burkini. It has to be a real stress, he thought, being in this damp, salty swimming dress drying on you, itching your skin under the sun.And he saw some men, too. They were wearing the bathing trousers. It takes two to tango, thought Witchdoctor. When this men will dress in a Burkini too, then maybe he will understand.Or when they will be the only ones covered, then he will get curious.Because it takes two to tango.
Witchdoctor was just searching for a secluded place where he can do his nude bathing.

Rotten Borough debt economy collapse

Adam was puffing uphill towards his veranda. It was a crisp clear sunny day.He put a basket full of fresh eggs on the rusty table. He was thinking to put the eggs under a heat lamp in the basement and raise ducks,sell them, by more and get into business.
Slowly descending the rotting stairs to the basement, something cracked, the eggs collided and he made an omelette out of his cunning plan. Scraping the rests, he climbed back to the kitchen and fried the lump. At least he was enjoying the view from the veranda. The Rotten Borough was spreading for miles around,with dilapidated houses, broken glass, signposts and lamps.Just another rotten egg place , a basket full spreading around the World, all same .Thousands and thousands of this Pocket Boroughs in somebody pocket…Seems like Grozny, Adam thought.
He took his binoculars , opened a bottle of some Greek red wine his very distant relatives brought him a long while ago from their Rotten Borough and started to scan the landscape, looking for his fellow zombies. Some Marshall Plan is really needed here, he thought. But, even raising ducks , or making eggs is not viable. How can one compete with 3 cents egg coming from god knows where, being fed with god knows what? Yes, there was the Oasis City, glittering far in the sun. But even they have the rotten eggs problem. No Company is paying taxes, that is why they opened there and the money is not enough, they are cutting wages, and the taxes to run the place are getting scarce. On the brink of default.He even not wanted to think about the pension plan the Masters are proposing,just another scam.But what and which Marshal Plan, fixing the road,bringing back the electric power,what can be done the Chinese, Bangladesh,or even Mexicans are not already doing ? When you get rotten you stay rotten?
The sun was glistening and he could see for tens of miles afar…In the far distance there were helicopters turning and circling. That was the Money Temple, with the famous MoneyTree growing in the Temple Garden. See, there is action, all day and all night, he thought, but it is not the action for us. Helicopters, he thought, but They do not even consider making some Helicopter Money, not to think something more daring, like debt free.Some say They are building a Debt Mountain somewhere. Built on woes, grief and non paid debt of the Worlds Rotten Boroughs.
He sat drinking.I will rot here, he said loud. He remembered, when he was young, his friend Johnny and reached for the phone.
“Hi Eve” Adam said on the phone
“Hi Adam” Eve answered.
“Do you still plan to open the Garden of Eden cafe?” Adam asked
“Yes, I am just waiting for you to say yes” said Eve
“ It is Yes, Eve” Adam said
“Well, we can start in a few days, but there is a thing…” Eve answered, hesitant.
“What?” Adam.
“ You know, no Apple or juice from apples will be made and served in the Garden of Eden cafe” Eve said.
“That is a problem “Adam responded, “you know that Apples are cheap and the juice is good”
There was a silence on the other side.
“Ok” Eve said after awhile “but this time it will be You Responsible for the Apples”
“Yes, agreed” Adam said “I hope this time we can make it right”
“It is our last chance” said Eve

The First Sign of the End as we know it

Some say the End is just a beginning, some say it is a transition, some say it is a change, some say there are 72 virgins waiting, some say they will be given premium seats for the celestial show… the fact is that the End is the End. The known chain of events, the chain of life as we know it, is broken.Is broken and we can maybe wait for the quantum effect or just wait and see. Nobody came back to enlighten us, the Tao stay unspoken, cloud hidden..
Sometimes the End is just a breeze coming from a strange part of the sky, when no one expects it.
The beginning of the first sign was the huge bleaching of the Australia Barrier Reef. And the confirmation of the First Sign is the almost 90% of the bleaching of the Maldivian reefs, happening now. But who gives a sh… for in the middle of nowhere tiny spots of sand and palms? And, especially who gives a sh.. for the thousands of kilometers of the reef? And who gives a sh… what this ecosystem really means for the biosphere? Who cares for 1000 species being dependent on this wonder of nature? And who cares about the Sea, where we all came from.
And the chain is broken. The sea temperature rise is too much for many. The reef is just the first victim, the cascade effect is yet to be seen.
In the meantime, they are selling this wonder to the tourists. The pathetic thing is that 90% of the tourists which go there, do not give a toss for the wonders underwater.It is just an excuse, to seem more intelligent. They want sweet water pools on this tiny islands, they want their own private sweet water pools in their rooms, they want the sun and the roasting on the beach,they want to be served by almost slaves,they want to go there because it is a status symbol. They do not give a sh…They do not care how the chlorinated sweet water is produced, and they are what they are. The do not care if the chlorine is eating the corals alive. They just want. All.And they stomp on it.
Witchdoctor discovered late this underwater wonders, he fell in love and he is longing to see more of it. He is so sad, so sad.
Yes, it is the End, my beautiful friend, my friends, living in your houses on the reef who recognize WD always after some days of freediving, and are so keen on showing their beauty.And will not look in to the eyes again.
So sad.
But we need to know the names, regardless.

The meaning of John Smith being

John Smith was a normal Corporate man, working happily for the Corporation Cluster in the sunny Corporate State. He had a wife and many friends with which, after the shift ,he used to drink, bitchtalk and have fun.They were not politically correct, but never the racist or gender or sex bigots.They were just talking freely,smoking, drinking and bitching and criticizing, as any simple corporate employee did.
But slowly, John Smith noticed that he was not advancing as the others have, on the Corporate ladder.
On one black Friday day, he decided. He sold his wife, together with some of his oldest friends and shorted his position. The next Monday, he was linked together with the triple AAA+ woman. And his rating went to triple A. He entered the Great Transaction Society; he was just barely aware of its existence just a few days ago. And the new Great Transaction Corporate life started to shine. He was smiling and for every smile he collected points in the Transaction game. No more bitching, free talking, everything had a purpose, every gesture, smile and any big or small talk were just ways of buying and selling anything, his earnings, position, friends, were all stocks in the game. he was piling up, every minute of his life, a huge asset position.When he smiled, he was making swaps, when he looked ,he was putting an option, when he laughed he was ready to short, when he talked he was buying and selling. When he made sex with his Triple A+ ¸they were rearranging their portfolio…And he was climbing towards the happy few.The only collateral was that he never said or thought anything which was not a vehicle for advancing in the Great Transaction Society.He became a Special Purpose Vehicle,and he dressed as such, drove a proper vehicle for the occasion and talked as such, as all his new friends did, too. He even did not like all this things he was wearing or buying, but that was the Game. His stock options grew….
And on black Friday his Triple A+ wife and his new close friends made a Margin Call. He was Out.No more Triple A. he was cleared by his clearing house. He started to counsel, then went on zero hours contracts, working on vouchers, sold his mega car and ended living in a cardboard box.
After days and days when he tried to enter the Great Transaction Society, he found out that the door from which the entrance was possible was packed with much younger and much determined John Smiths.
He was thinking, for some days, thinking the Big who and what and why. He sat in the cardboard box for hours, thinking about who he is, what and why , entering his inner self, introspecting. He found Nothing. Suddenly,just when he was waking up from this search, a two legged Metal Box appeared in front of him.
>hey,John Smith get on your feet and come, we have a job for you< >What job?< John Smith asked. >It is a job guarantee, we have to give it by our default algorithm to all humans. We have to take care of you, you know. From now on you are going to scrub the sidewalk in our neighborhood< the Metal Box said. John Smith stood up and walked away together with the Metal Box. Well, he thought, I am back to meaning...something.Yes, he thought, I am a real Corporate man, thick as a brick.

P.S. This story is an elaboration from Franco Ferrarotti interview on Rai radio3, where he presented how the Society moves from the Market Economy to the Market Society which is not any more divided from the economy but becomes the only transaction /profit /relation space.And by becoming the Market Society, looses the Society. Well, it is happening for centuries, many social classes have this embedded, even Hollywood was built on this breaching of the circle, when a poor girl marries a rich,etc, from Screwball movies on till now. They call it the American Dream.But now it is generalized.
on sundays, Witchdoctor

Zombies in EU Stress or how to find the Lender of the Last resort

The latest soap of the Eu stress tests goes -disclaimer!- in this direction;
Since the Meteorite XY666Z ( the beast from Venus), approaching from space in direction of the Eurotower- the ECB quarters-Wall Street- The City and also on Witchdoctor rooftop, was not included in the options of the stress test, the Speculators, together with their AI (artificial”intelligence”) dummy machines have found out that in case of the meteorite XY666Z crashing especially on WD rooftop, the real picture is completely different.
????
Since the times They sold the Future but want the money Today, the money masters claim that any stress is not a perfect stress for the business.
Sure they forgot that all this money machine went bankrupt sometime in the end of 2011-2012, not only in the EU, but open your window and look outside… And they found out today, that the stress tests do not include the default of some Sovereign State, such as Greece, Portugal, or even Italy. Strange, they stopped here, not adding to the list the whole world domino effect.But that is this problem with the AI, it counts erratically..
And here is the proof and the clue of the title of this tale.The ECB is not vouching for any Eu country, and the Mr. Market is trying to force it to be the Lender of the Last Resort. One may think this is some humanitarian wish, to help the States on the verge of default.
WRONG.
The Speculators know that All they have is Junk, if…it is discovered that the King is naked.They know they have and trade with Hundreds of Trillions of the derivatives, no plain vanilla, but the new ones, which rely dramatically on the lending/reserve ratio/capital reserve of the banks Fractional Reserve Saloon and the health of the States.And they need to be covered.And since the Banks lending machine of the money out of thin air has slowed down dramatically, they are like chickens in the shed. Because they have sold the Future, but the bill is coming Today.
Some also like the roller coaster effect, up and down, because only up and down makes a quick buck on the HFT machines
Witchdoctor roof is just peanuts in this tale,it is the Highway to Hell we are on

The Super Soap “Us election” conspiracy was invented by the Mexicans

It was early spring when they started moving North, Some went by plane, some went by train and nobody came in vain. Many crossed the borders in the deep dug tunnels.
The Promised Land needed them, badly.,they all have a Mission…. they are fulfilling gladly. All of them,ghostwriters, songwriters, scriptwriters and speech writers. All from Mexico and further South. They knew the trade… No Wall could stop them, no obstacle men made.
The Circus is in Town and even the Italian Lady journalist is there, weeping and sobbing out the heartbreaking story, salivating in her shoes.
Yes, the Super Soap “US election” is Made in Mexico, the land of endless soap sobbing.. The latino heart sobbing saga, the more right one goes and more white one goes, the more it works and all in there sobs.. And the speech writers know their job, the fight, the noble heroes, the scoundrels and everybody weeping , hugging and crying in the crucial moments of the fake storyboard climaxes. First the language was a slight problem, but the spanish speaking ghost writers invented the gestures. The stretched arm and finger pointing at some idiot unaware of being pointed, no one knows why, but it is a moving picture, waving straw hats, tin hats, hugging for the first time in their life, even if they tell you they live together for many years, happily….
But first it started with the Fight. Yes, what do you think, they are all Machos, regardless of sex and gender, they all fight. For you naturally, but it will be you to pick up the pieces, naturally. They fight for us, which should be you, but since they speak behind the sign “for us” it is a fight for them, but you have not noticed that, crying your eyes out, or shouting some fight words and slogans, killing almost everyone on the Planet in 5 minutes time, and then back to weeping and hugging…So close and so United Weeping in each other pockets, for reasons untold and unheard, except it must be something Big and Great, to come soon and release all .
And the prodigal wives, daughters, sons ,all sobbing out of happy family lines.Your wife is not dead,she was never in your bed, she is alive with your brother, I am your lost son, Hulk is alive and well kicking, And all Good Samaritans are dressing for the Super Soap ending, selling tickets for the feast, but on that feast you will not be invited, especially after you have voted.
Even the arm dealers are weeping, but the reason is hidden in your future, if you will be able to find it, and the Wall Street is popping out the champagne corks and weeping ,they are hugging globally, but the reason is obvious, they are weeping seeing you weep, it is a moment one has to find out who is weeping from joy or is just weeping in vain .
The Hulk is looking out for the Enemy, out of prejudice and bigotry, and Cinderello has to find an Enemy too, hiding the emptiness of the Big Smiles, the dentist dream , and others are checking their plastic surgeon works,
Even Witchdoctor is howling on the roof, without the full moon, and there are others howling on the other roofs but for some other reasons.
And there are treasons to come and everybody will weep for some lost hero, The scoundrels will repent, but only the ones nobody will vote for, the Others on the ballot box have put on in time their Virginity Armour, and we are all sobbing , thankful for all miracles. And more to come and invent.
In the meantime the bankers , money masters and speculators are weeping and minding their own business while packing and gift wrapping the debt bonds they are feeding to the global vacuum cleaner, knowing that nobody is looking their way, as usual, because the ghost writers have not written a single line for their show. They are , as usual, missing from the Super Soap.

And Witchdoctor is howling on his roof top, and shouting Lassie come home, even if he never had a dog or preferred to have a dog, weeping for his lost child he never had, or even wanted to have one, and crying for the spilled wine glass, being so uncomfortable on the roof tiles that he wonders,
why he went howling on the rooftop, especially without the full moon?
But , it is a Great Pretender time

The Three Laws of the debt driven economy meltdown

The faint path was winding upwards through the misty landscape. Just before the steep climb there was a large, crumbling boulder, stuck in at the beginning to the route for the summit of the Debt Mountain , cloud hidden, its whereabouts unknown. A faint, disappearing engraving on the boulder, written in the mist of time, stated the nature of the Debt Mountain. Some say there have been more than three laws written on it, but the crumbling time erased them, Some say there is still to be seen a Fourth Law stating that time is not money, but as much as Witchdoctor tried to decipher the fading lines in the stone, he could not read them.
The first law- growing more than the interest paid on the debt.
If a county does not grow more than the interest rate on its debt, recession comes, and taxes rise, and the bitter end is there. The sovereign debt starts to pile up, together with the compound interest.Many countries are in that position. And the money masters know it. They started pushing the interest on the debt down, ZIRP, NIRP….. to stay within the First law. The same applies to any business.

The second law -the floating reserve– says, that in a country there has to be the same amount of the loose, floating cash as is the fractional reserve, so at least min. 10% in the EU. This is the law of balance.
If you break the second law, the stagnation , recession starts.the defaults happen more often, and the population gets over indebted. The credit card, not one but 10, 15 credit cards are being used as a loan and escape from bankruptcy because of the falling purchase power. The missing buffer zone of the Second Law leads to society depletion and the disappearance of the middle class.

The third law-the law of default.
The third law says that the money in circulation – the monetary mass, must match the weighted average of the amount of the interest on the debt circulating in a country. If this is not the case, recession, stagnation and deflation starts. The point is, that in the fractional reserve banking, money for the repayment of the interest is not created. So the money for the interest comes from cutting prices and wages, or by defaulting. The defaults matches the average weighted interest rate in the economy. The default is embedded in the fractional banking,debt driven economy.
The default or bankrupcy is the dynamic force in the economy.It forces subjects to be more competitive and make innovations constantly. The bad side of this coin is that, globally, everybody is doing the same, but from different positions. Most of the so called emerging markets have none or lousy health and pension schemes, no laws forn the pollution, so they cheat in the game, employing the working force for „free“ and destroying the environment. Their cost is de facto hidden, they are cheap because the do not follow the same rules. The free trade is a scheme or a trap, which leads everybody to the lowest common denominator.

The QE distorts the price discovery through false interest rates. Ok, if they would not do it, the States and half of the financial sector will go in default. But on the other hand, the almost no interest rate is slowing the economy, because the dynamic force- the threat of default, is no longer there. And there is no risk for the Oligarchy investments. And the capital allocation becomes a slowing force of the economy.
The supply side economics is dead. The demand side-economics is not possible in this model of the debt driven economy. There is no room and will for the raising the purchase power of the population, so we are doomed for the slow decline.The purchase power in the global economy can be raised only by new regulation, which forbids the unfair competition through low prices because the other party is having „slaves“ as a workforce. There has to be a introduction of the customs tax which reflects if the imported goods a are made by paying the workforce a minimum health and pension or if it respects the environment . It can be made progressive, depending on the amount of cover the workforce has.
The Giant Vacuum Cleaner is in place, and is vacuuming from the bottom of the World to the top of the Debt Mountain.
Witchdoctor was busy transcribing the Laws, when he heard the sound.The first sound of the day. A blurred figure was slowly descending from the misty top, passing through layers of solid debt formations crumbling slowly under his feet…
Many questions arose, but the blurry figure started to speak first;
Hey, he said, do not go on the top. It is growing and crumbling at the same time.
But what is on the summit? Witchdoctor asked.
Nothing, the blurry figure answered, the top is so high and far that you see nothing, there is just Nothing all around. And the last layers of debt, after the synthetic derivatives, are the never paid debt packed with high interest and resold. They just dissolve in the mist… Listen, go away and climb some other mountain, cloud hidden, its whereabouts unknown….
Suddenly Witchdoctor woke from the Dreamtime, looked around, the notes were still there in his hand, all black from the crumbling black dust of the debt formation layers on the Debt Mountain.
He opened the window and fortunately the Box of Rain was still in place. Smiling, a thought crossed him; but, for how long?

The twist of Fate

In a small town in a vast Russian Tzar province there was a small Jewish community with their famous Rabbi,a big Kabballah knowledge master.One day, Yankele, all covered with cold sweat and red in face started to knock frenetically on the Rabbi door.The door opened and Yankele shouted, Rabbi, listen! What is wrong Yankele, the Rabbi asked? Rabbi, I was having breakfast, with a slice of black bread and I was just spreading the butter on it….. Yankele, Rabbi said, why you bother me with your breakfast, are you mad? Wait, said Yankele, a terrible thing happened! Have you seen Satan or what, asked the Rabbi. No, said Yankele, it is much worse. I have just finished to spread the butter on my bread when my Cat jumped on the table and the slice of bread fell to the floor! And guess what, the bread fell on the side with no butter on it! The rabbi jumped. No way Yankele, it is not possible, the bread slice always falls on the floor on the side with butter on it, it is the Physics and it is the Law! Rabbi, I have witnesses, Yankele said.
Rabbi went pale in his face. This is very serious what are you saying, it is a mystic event, Rabbi said, go home Yankele, and added;I have to study this….
Days, months, years passed, Rabbi was studying the Kaballah, Zohar, The book of Life, meeting other Rabbis from Prague to all Europe, writing letters to America and all over the world.
After Three years he summoned Yankele. Listen Yankele, Rabbi said, we have studied it for years and we have come to the only possible solution:
You have put the butter on the wrong side of your slice of bread!

Ps: this story was told by Umberto Eco to his friend Moni Ovadia, and Moni Ovadia has told this story on the Umberto Eco funeral.
There is something in this….story…. like a zen koan and it definitely has to do with the debt driven economy.