History Stuttering, Near Homonymy or Just Plain Coincidence??? Louis XV John Law Bankruptcy and US Jack Lew Debt Ceiling Catastrophe? 10/14/2013

Scots and Jews with the Lombards and the Chinese, are the world financial wizards, at least by historical reputation!!!! ;+)
One historical peculiar fact is making some people, who may have too much time on their hands ;+), ask the question, whether it is mere historical stuttering, near homonymy or just plain coincidence, that the man from Scotland who orchestrated what led to French King Louis XV bankruptcy, John Law (pronounce “LaSS” in French) and US Treasury Secretary who presides the USA Debt Ceiling catastrophe, Jack Lew, almost share the same name,………..What in a Name ???????   ;+)
Hopefully, it will end better for the USA than for France, with Louis XVI decapitation and the 1789 French Revolution………..;+)
“Law was a gambler and a brilliant mental calculator. He was known to win card games by mentally calculating the odds. He originated economic ideas such as “The Scarcity Theory of Value” and the “Real bills doctrine“. Law’s views held that money creation will stimulate the economy, that paper money is preferable to metallic money which should be banned, and that shares are a superior form of money since they pay dividends.”
“Since, following the devastating War of the Spanish Succession, France’s economy was stagnant and her national debt was crippling, Law proposed to stimulate industry by replacing gold with paper credit and then increasing the supply of credit, and to reduce the national debt by replacing it with shares in economic ventures. Though they failed, his theories ironically live on 300 years later and “captured many key conceptual points which are very much a part of modern monetary theorizing”.
“In May 1716, the Banque Générale Privée (“General Private Bank”), which developed the use of paper money, was set up by Law.Law would become the architect of what would later be known as “The Mississippi Bubble”; an event that would begin with the consolidation of the trading companies of Louisiana into a single monopoly (The Mississippi Company), and ended with the collapse of the Banque Générale and subsequent devaluing of the Mississippi Company’s shares. The company’s shares were ultimately rendered worthless, and initially inflated speculation about their worth led to widespread financial stress, which saw Law dismissed from his post as Chief Director of the Banque Générale at the end of 1720.”
“Law initially moved to Brussels in impoverished circumstances. He spent the next few years gambling in Rome, Copenhagen and Venice but never regained his former prosperity. Law realised he would never return to France when Orléans died suddenly in 1723 and Law was granted permission to return to London, having received a pardon in 1719. He lived in London for four years and then moved to Venice where he contracted pneumonia and died a poor man in 1729.”
“More recently for US Trasury Secretary Jack Lew, during his confirmation hearings before the Senate Finance Committee, Senator Chuck Grassley expressed concern that Lew did not know what Ugland House was, though he had invested in it. Lew had invested heavily in funds in Ugland House while he worked as an investment banker at Citigroup during the 2008 financial meltdown. He had taken advantage of current tax law and his financial allocation in the venture resulted in Lew taking roughly a 2.8% loss, a $1,582 decrease in his investment principal.”“On February 27, 2013, the full Senate voted and approved Lew for Secretary of the Treasury 71–26. He was sworn into office on February 28.”

Why a lot of “financial geniuses” have to end up “on the run” ?????  ;+)
“Hedge Funds”, “Ponzi Schemes” and/or “Creative Accounting” anyone ?????  ;+)
The U.S. government actually hit its debt limit of $16.7 trillion in May 2013, but has been juggling its finances to avoid going over the limit since.”
“What’s in a name? that which we call a rose/ By any other name would smell as sweet“.”( William Shakespeare‘s Romeo and Juliet (Act 2, scene 2):)

“The Kabalarian Philosophy is the study of who you are.”

“It explains the basis of healthful living, harmonious thinking, and spiritual ideals. Most importantly, it is the study of the means to personal growth through logic and reason—a philosophy of fact and principle. All that you are and shall become is contained within your names, birth dates, and the cycles of time. As students of the Kabalarian Philosophy, you are welcome and encouraged to test this knowledge for yourself.”

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