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Ben Carson Upsets Mainstream Media: Openly Questions Fiat Money
Submitted by Ryan McMaken via The Mises Institute,
Neurosurgeon-turned-Presidential candidate Ben Carson has been under attack this week by our PC-enforcers in the media. While most of the media scorn has been directed at Carson’s defense of gun ownership following last week’s shooting in Oregon – Matt O’Brien of the Washington Post slapped at Carson for flirting with the gold standard.
In an article on Friday criticizing Jeb Bush for not condemning the gold standard harshly enough (Bush only offered a timid "I don't think so" when asked whether the US should make such a move), O’Brien highlighted some surprisingly sound comments Dr. Carson made earlier this week during an interview with NPR. While discussing the nation’s current debt, Carson said:
"[T]he only reason that we can sustain that kind of debt is because of our artificial ability to print money, to create what we think is wealth, but it is not wealth, because it's based upon our faith and credit. You know, we decoupled it from the domestic gold standard in 1933, and from the international gold standard in 1971, and since that time, it's not based on anything. Why would we be continuing to do that?”
Because of views like this, O’Brien dismisses Carson as not being a “candidate of serious policy.”
Unfortunately for O’Brien, he spends the rest of his column demonstrating that his own views on the gold standard, which he refers to as “the world’s worst idea today”, should not be taken seriously.
Along with offering the typical flawed-Friedmanite narrative of how the Federal Reserve’s dedication to preserving the gold standard, O’Brien is concerned about the impact a gold standard has on interest rates.
Without a hint of irony, O’Brien suggests that interest rates guided by the market simply lack the wisdom of our current PhD Standard:
"The question, then, is when gold actually does "want" to go up. And the answer is not when the economy would want it to. That's because the price of gold doesn't go up when the economy is overheating, and down when it's cooling off. If it did, then the gold standard would give us high interest rates when we needed them, and low interest rates too."
So O’Brien’s problem is with the fact that the market does not follow his Keynesian models on how interest rates should behave. Like most self-proclaimed “economic wonks” in DC, O’Brien can’t imagine a world in which the Fed is limited in what it can do to respond to a recession.
Perhaps it’s time for Mr. O’Brien to read about the Forgotten Depression.
And maybe Dr. Ben Carson needs a new addition to his wardrobe.
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At least he has given his opinion - not a waffling politian like so many - you may not agree but that is freedom in this country
For this reason alone, I do support Carson
How does he feel about mandatory government school under penalty of imprisonment in the first place?
You've set the bar for "totalitarianism" pretty low. What if he thought people should be required not to steal from other people? Or that we should keep the laws against homicide? Is that "totalitarian" too? Cripes. There are too many people in the alternative media comment sections who throw a whole candidate out the instant they find a single point of disagreement.
As far as Carson, isn't that guy a doc? Shouldn't a doc have a pretty educated point of view on something like vaccinations? Shouldn't we at least listen to his reasoning? I'd think so. I suppose that makes me "totalitarian" too.
Actually doctors tend to know the least about vaccinations. They are instructed in the allopathic way.
30 minutes of thought will show you that vaccination theory is suspect at best.
Ex. Vaccinations work on the theory that by injecting parts of pathogens, your body will produce antibodies which can be used to tag the real deal and help you clear them before they overwhelm your immune system. Okay to that point.
But, those who benefit the most from a vaccination are the very people who need them the least.
Compromised immune systems benefit the least from a vaccination and those with a healthy immune system need them the least.
BUT, if you listen to the propaganda about vaccines, you walk away thinking that a shot will prevent disease. Then when you come down with the disease you can rationalize it by saying it wasn't the right strains, etc.
Mandating something of unproved efficacy injected into someone else is totalitarianism. Plain and simple.
pods
We dont need a theory. Look at history. You don't to "think" about vaccination theory, you need to get your facts straight. The collective memory is short. It's ironic you critizise efforts that saved millions of lives. That's not theory, but FACT.
There may be some problems but when you look at the facts such as the elimination of polio, I disagree.
If you know anyone with polio they are old because it virtually does no longer exists.
In civilized countries. Polio is still to be found plenty of places.
Not in countries who use the polio vaccine
So, if the vote is anywhere close, 62% of you would force the other 38% to get vaccinated whether they wanted to or not even though you were vaccinated and therefore 'safe' from the minority state hold outs. Perhaps the DHS could hide outside schools and shopping malls and use dart guns to tag these recalcitrants with vaccines.
Has this ever been explained? I don't get why it matters if you are vacinated and someone else isn't. Or is there something else to this?
We got certain vaccinations when travelling to South East Asia. That particular travel doctor explained you want this because of this. And the last one was don't bother with this, and make sure to not pet any foaming at the mouth dogs. I doubt everyone in South East Asia is vaccinated. So why do I care if they are or not?
I wish I could get back to that time in my life when I thought who was president really mattered. I know it does to a certain extent but I'm so high up on the jaded scale...
-Argenta
Queue the racist nail gun in three, two one....
Blasphemy!
So, what's it gonna be now? The Don & Bernie shit show?
No - Hitlery and the Don mud wrestling in Las Vegas
You've got a self-professed political John and a communist leading the pack out of the backstretch. What can you expect after President Rodeo Clown? (apologies to professional rodeo clowns who do in fact save lives and reduce injuries through distraction)
I like dat Bens, he be uh jeanyus.
http://www.dailystormer.com/dumb-black-ben-carson-left-a-sponge-in-a-wom...
You do know that there are people in the OR that track all the shit that goes into a person in the OR.
They are suppose to account for everything before they close the patient.
The Doc can't do it all, a lot of shit going on in the OR
I hope Carson takes the time in the next debate to explain Bitcoin to the masses.
o'brien, libtard POS imbecile extrodinaire
Didn't Ronald Reagan take a bullet or two for openly jesting about such matters?
PM-backed money is no joke, unless you ponder all the gold symbology on the new Benjamin.
They're all statists. Wasted days and wasted nights,,, and a big waste of our time.
I heard about this bullshit on the radio this morning.
http://money.cnn.com/2015/10/12/news/economy/nobel-prize-economics-angus-deaton/
Right. The same assholes who make up awards from all of the blood money collected over the years who then give Obama a Nobel Peace prize. Talk about no credibility.
The CV for this guy. Look closely.
https://www.princeton.edu/~deaton/downloads/deaton_cv.pdf
I read his work and I noticed that he has a boner for Africa. At least I didn't see him hanging out with Krugman but the guy is a lifer with big bank connections. His main argument is that we are not redistributing wealth properly. The redistribution should be in this place and not in that place. No mention of what wealth is, how it is created or about not redistributing at all. It is all puff and fluff per usual.
Yeah. I about puked in the car this morning. I dont even care what the subject matter is anymore. The profession of economics is heading into the dustbin of history. And the Nobel is a joke now anyhow.
Plus from me on that. I have no idea why I waste the time to listen that shit. I come here for some levity.
That it. He now has my vote. Done.
In unrelated news, photos of Ben Carson leading KKK rallies in the 1970's have just surfaced...from an IP address inside Liberty 33.
Would never vote for this guy but, it's nice to hear such things said out loud. Same with his comments about Planned Parenthood being population control. Regardless what I think about his politics, he's a smart and thoughtful man.
Can someone save me the time for looking: is this another treasonous pile of shit member of AIPAC or is this guy a free man not owned by Bibi?
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security
As much as going to a gold standard would be a good thing, there is not enough gold in the world to enable the USA to go on a gold standard - i.e. every dollar backed by gold.
It would require firing 90% of the government employees, eliminating 95% of the social programs including 0bamacare and removing all illegal immigrants.
All of that is possible but then where does the amount of gold needed to run the US on a daily basis come from?
haedhunt - Does not matter how much gold there is available ...it only matters how many dollars = to 1 oz of gold. Think about it some more.
By my estimation an ounce would have to be worth $38,000.
You don't get there from here without a war.
The world could go on a gold standard if needed although I prefer freegold instead but:
World Population 1900 , 1.8B, total gold in existence - 24,000 mt or about .42oz per person
World population 2000 , 6.0B, total gold in existence - 165,000 mt or about .88oz per person
Most of the world was on a gold standard in 1900 but in 2000 there was over 2X as much gold per person with no gold standard.
Conclusion: With twice as much gold available per person there is no reason we could not use gold again as a standard, with silver also of course. Proper valuation relative to the amount of the fiat ponzi is all that is required.
Bingo.
How do these media people get away with critisizing Ben Carson? I thought such critiques were raysiss? Oh wait, He is a genuinely successful and self-made man of African descent. Which means he must be treated as a rich white man.....
Carson should perform brain surgery on Matt "the fuckwit" O'brien. Y'know... the ole "addition by subtraction" surgery .
He would get...Kennedy'ed ® ...
Executive Order 11110
Ben Carson is liberal kryptonite. They can't use their favorite strategy against him {call him racist}. They will instead portray him as an "Uncle Tom". The gold standard is antiquated and not in society's best interest. The problem is not with a fiat money system, the problem is a private, central bank. Our model should be the policy that Lincoln used during the Civil War; Fiat money printed by the Treasury, without any false setting of rates, and without the notes being created as debt.
"The problem is not with a fiat money system, the problem is a private, central bank."
It's both, but the main problem IS FIAT CURRENCY itself. Because it matters little who issues it, if it can be created out of thin air then it always creates an uneven playing field where the rule of law, those who administer the rule of law, and those who benefit from the rule of law (or lack thereof) is always impacted.
Every major evil in the world, from poverty, war and climate engineering is always related to the ability to create fiat currency.
It DOES matter how the fiat currency is created. Lincoln was killed by the Rothchilds banking syndicate for what he had done in 1863. Notice they didn't kill him for being on the gold standard. They killed him because he was creating DEBT FREE MONEY, NO INTEREST DUE TO A PRIVATE BANK. It doesn't matter that it is "created out of thin air", as long as it is relative to GDP {money supply is kept in step with the production of the economy} and there is fiscal discipline. This way there is no mis-pricing of money like we have today {Fed rate at .25 forever.} There should be no central bank, and no one but the market should determine rates.
https://www.youtube.com/watch?v=Hpo1SAdDLwg
I would maintain a central bank, but only as a place for banks to park their money and as a statistical office. It should neither pay nor set any interest rates and function primarily as a clearinghouse.
and it is LAW that makes money. Be it gold, silver or fiat. There's always a law involved.
From a historical perspective, I recall the radio shows that Ronald Reagan made during the late 1970's, and one of his key points was a resumption of the gold standard. After his election, he made similar noises...until he met up with John Hinkley and his pistol. The point was made, and Reagan never made those noises again.
Even further back, there was Congressman Louis T. McFadden, who was the first pol to want an audit of the Fed. It took several assassination attempts, the last of which silenced him...and serious criticism of the Fed.
Given historical precedent, Mr. Carson should consider purchasing some Kevlar underwear., get a stray from the pound to test his food, and avoid flying in small planes.
Maybe Ben Carson paid attention to this email he received as feedback (thanks to a competent and diligent staff), when he solicited funds for his campaign:
- - -
"Although I agree with you [with your fight against Political Correctness], I think that your ladder -- fine as it may be-- is leaning against the wrong wall. When are we going to have a public debate on the fraudulent monetary system, that has a private banking cartel (shareholders of the Fed) conjure Credit/Debt out of thin air, and trade it for real assets? Until you and your peers speak about this, Presidential Candidates are just part of the Controlled Opposition, and part of the Bread & Circus act in this Latter Day Rome. Until you do, the decline of the USD as a GRC (Global Reserve Currency), and the decline of America itself will continue under the current trajectory.
To paraphrase Henry Ford: "If people knew how money is crated, we'd have revolution by the morning". And remember: "All wars are bankers' wars". And lastly, to paraphrase another doctor (Dr. House): "You can't have a right cure until you have the right diagnosis".
- - -
And lastly, to paraphrase another doctor (Dr. House): "You can't have a right cure until you have the right diagnosis".
And here are the Mises Monks "diligently" delivering another "wrong" diagnosis. This is getting truly sickening.
Sure, we should allow central banks to continue arbitrary control over the value of currency in your pocket. What's the matter with that?
The state of the world will only get worse if we continue down the fiat road.
Ben Carson Upsets Mainstream Media: Openly Questions Fiat Money
Well, someone should answer him by describing the "proper" management process of any Medium of Exchange.
All money is fiat. Money is "a promise to complete a trade". The promise is backed by the MOE process itself which when properly initiated guarantees:
If Carson is clueless about money as is Ron Paul, is he also clueless about WTC7 falling down? Or is he just keeping his powder dry like Ron Paul and ignoring the fact that we are living in an occupied country and anything he does is going to be dictated by his bosses anyway?
I would vote for anyone who would enter into an open contract with America that contained, at its' root, the automatic resignation from teh Office of President without formal procedure nor filings in any venue as the verbal promise before teh American Public is hereby agreed to be contractual, self-evident, and Prima Facie proof of its' binding existence for all successors and assigns to the Presidency hereafter for all, to resign effective within 30 days of Swearing-In to the Office of President of the US, his / her failure to sign an Executive Order banning teh US Federal Reserve, ordering US Congress to return the creation and control of the nations' currency unto itself as required under the US Constitution, and ordering the AG of the US to begin formal investigations into all alleged violations of law.
Executive Orders are not just for MultiNational Corporatism after all.
Great! Another "contract with America."
Remember how well that last one turned out?
I do.
Ben Carson: idiot savant.
If this guy hadn't already said so many ridiculous things this might be news. Even a stopped clock...
If this guy hadn't already said so many ridiculous things
Who? Obama?
Such as, I mean specifically, and why the statement within context was ridiculous?
the demon beast feeds on the debt of the fractionalized fiat banking system. To speak of destroying it is like taking an axe to the main power source of Area 51, the Pentagon, the DoD, the WH, the NYSE, the internet, and well you get the idea :) "OMG!!!!!!!!!!!!! what did that nigga say?!?!??!" All of officialdom will come out and chant in unison the great horrors and evils and sheer lunacy of even *thinking* about such a thing while taking a shower, let alone being a low level, no chance of winning presidential candidate and saying it out loud. Gasp! "Quickly!" the editors roar at all the MSM jew controlled publications, "turn on the emergency demonizing switches and flood every article, script and teleprompter everywhere denouncing such reckless talk!!!!!!!!!!!!"
Ben Carson--I like your ideas and would vote for you given the chance. That comment just guaranted I will never get the chance cause the banker mafia will be out to get you now. Hope you start going down in the polls so the bankers dont do to you like the did to Kennedy. Lesson---hold this line of comment under your hat until you are elected and ready to hibernate in the oval office.
There would be no protection in the oval office...even the secret service was in on JFKs murder.
His only hope would be to make a public plee for any and all patriot citizens to come guard him 24/7, but theres no way that could work either.
So many experts ..
Let's listen to one expert at a time ..
And judge all others against this - one ..
Do they have the war chest to back up their words? Money talks, [bull shit] policy [wonks] walk ..
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp
In this case, please skip the teaser. Go to the full 2 hour discussion (3/24/15). Begin at 40:30 mark. Listen as far as you want. Understand why it was/is called Operation Stillpoint. Why he wanted no part of Project Hammer (41's sole initiative). We were at a second Cuban style missile crisis in the late 80s. And the warheads at that time were far more advanced than in '62 ..
I truly believe, and I also hope, that Ben Carson will win and become the next president of the USA.
Ya know, I like much of what he sez. I could begin to support him. Unfortunately, he is down with the whole ziocon thing so that puts him into the same pigeon hole as Rand Paul. Near, but yet so far away. I need to hear less about our "special relationships" and more about backing away from interventionism, bear baiting and pouring more money into zionism.
I'm curious to know if you think any of them are not ziocons.
Some people are saying that government can only COIN money, hence it must be metal not paper.
That argument is already settled law, and said law is based on original language of that era, not as people imagine it today:
http://www.monetary.org/paper-money/2013/01
Coining also means printing on paper.
Using metal as money to then control volume of money in supply, is not good monetary science. Metal does nothing about S shaped curves of all natural economies. Metal channels inappropriately as it is melted down and becomes a tool for the international. Metal automatically means loss of sovereignty. Witness London being both a credit center and the gold exchange center - yet England had no natural sources of gold. How is that?
I guess since monetary history is not taught in economic schools anymore, then people imagine/think based on their own experience. But, that experience has nothing to do with what actually happened in the past. And to ignore those lessons is bad thought, even civilizational destroying thought.
For example, the Spainards thought metal was money. With tons of silver and gold flooding into Spain upon conquest of Americas, they thought they were getting rich. This period coincides exactly with Spain falling off the map as a major international player. Spain soon stopped making and producing goods and services, afterall they were rich.
All economics is transforming free things from the earth, into goods and services. All economics is really a transformation event, not a a "growth" event.
www.sovereignmoney.eu
You and your money printing pals are the new Spaniards. You have deindustrialized the west because you are after all rich in paper and digits.
Paper money is fine as long as it represents something real.
GoldenDonuts,
If you are refering to me being a money printing pal, then you've gotten it wrong. Money should only flow in channels that are productive, can be saved, and are beneficial to the population.
So, how is it that money creating banks, that is credit that is created against debt is restrained by volume. It did create a housing bubble did it not? It does create deflations and hyperinflations, does it not?
Did gold not create inflation in Spain? It did.
Did gold not create depressions in most economies, especially as it was hoarded. Did Gold not get consecrated to the vaults during the dark ages, while land was also enclosed? It was.
I'm going to say it again, and this point cannot be refuted: Money has to be volume controlled by law.
Sorry if you don't lke it, that is the verdict of history. Banks should not create debt instruments and hold them against the population, nor should they materially gain in the act of creating new credit. Banks should only intermediate already created wealth money, where this money channels and is volume controlled. Prices then fall in line.
The goldmen and Credit Masters are the SAME DAMN PEOPLE. It was the goldmen who invented private credit schemes.
Their goal then, and now, is to take rents on money.
Money has to be volume controlled by law.
No it doesn't. That's what we have now. It gives governments ability to finance themselves through counterfeiting (inflation). And it gives capitalists (banks) a cut on every trader's transaction. Plus it allows a small elite to control all traders by throttling the supply of money. This enables their enormously profitable farming operation called the business cycle.
In any properly managed Medium of Exchange process, money is created by traders getting their delivery promises certified. Those certificates (money) then circulate as the most valued object of virtually every simple barter exchange. On delivery, the trader returns the certificates and they are destroyed. If he fails to deliver, the default is mitigated by an equal interest collection ... immediately. Anyone who has made a purchase and paid for it over time is intimately familiar with the process (albeit with the attached corruption of having to beg to have the promise certified, and paying interest even if you never default).
The process requires no capital; no savings; no measure of non-measurables like GDP, employment, inflation, prices, etc; no imbalance between supply and demand for money; no inflation anytime, anywhere.
Any public or private concern can institute such a MOE. No other MOE could compete with it ... it could only match it.
Of course, the government and banks don't want their scheme ruined ... the laws you crave will actually prevent adoption of a properly managed MOE process ... to protect the children.
You're 100% correct. The debt-backed money system we have right now was a mere outgrowth of the gold system. I'm sure that gold and silver will lead to an inelastic money supply which will be "smoothed out" by extractive interest-bearing paper riding on top of it. The challenge, then, is to create a system that is interst-free, self-resolving, and maintains price stability and employment without secular economic growth.
Wonder if you have seen this video since I am looking for comments. Sorry it is a little Cut and Paste.
He has a Goy History of the World Guide in 5 parts that is also interesting.
Maybe the Economic Pieces are about Capitalism being perverted by Usury and that this came out of the Roman Empire and Catholic Church that weren't reformed, then the Protestants picked it up and exported it to the USA, then later the Jewish Culture brought it to the USA along with fake credentials, an urge for revenge on Russia, and a fixation for changing US Culture to prevent anti-semitism or the possibility of anti-semitism... Well it must be possible that E. Micheal Jones has an agenda and a bias...
- 1977 Jimmy Carter decides to clean up the CIA, appoints admiral to head the CIA to do that, cut budget, remove people, limit activities... whalla, neocons are born shortly there after
5:00 minutes in, video E. Michael Jones on Neoconservatives, CIA, Cold War and the Catholic Church
https://www.youtube.com/watch?v=Y2gB9o0Qg7k
- Looks like USA will start WWIII, they ain't leavin' and they don't back down!
- Irving Kristol (January 22, 1920 – September 18, 2009) was an American columnist, journalist, and writer who was dubbed the "godfather of neo-conservatism."[1] As the founder, editor, and contributor to various magazines, he played an influential role in the intellectual and political culture of the last half-century;[2] after his death he was described by The Daily Telegraph as being "perhaps the most consequential public intellectual of the latter half of the 20th century."[3]
- Richard Edgar Pipes (born July 11, 1923) is a Polish-American academic who specializes in Russian history, particularly with respect to the Soviet Union, who espoused a strong anti-communist point of view throughout his career. In 1976 he headed Team B, a team of analysts organized by the Central Intelligence Agency who analyzed the strategic capacities and goals of the Soviet military and political leadership. Pipes is the father of American historian and expert on American foreign policy and the Middle East, Daniel Pipes.
Alma mater; Cornell University; Harvard University
And 17:50 Minutes in Jones says he thinks Banker Herrhausen was assassinated by the German Govt for saying he was for "Debt forgiveness, which is heresy(heretic) for bankers".
Alfred Herrhausen (30 January 1930, Essen – 30 November 1989) was a German banker and Chairman of Deutsche Bank. From 1971 onwards he was a member of the bank's board of directors. He was a member of the Steering Committee of the Bilderberg Group.[1]
21:00 minutes in the Bradly Foundation funds (Irving Kristol takes over) neoconservatives...
- The Lynde and Harry Bradley Foundation, based in Milwaukee, Wisconsin, is a politically conservative foundation with about half a billion US dollars in assets. The Foundation has financed efforts to support federal institutes, publications and school choice and educational projects.
And was this a Democrat(21:40 Minutes), Michael Novak, that was a member of Neocon Movement?
"Additionally, Michael Novak served on the board of directors of the now-defunct Coalition for a Democratic Majority, a faction of the Democratic Party, which sought to influence Democratic Party policies in the same direction that the Committee on the Present Danger later did. "
- Leading CDM members included Les Aspin, Daniel Bell, Lloyd Bentsen, Peter Berger, David Boren, Midge Decter, Tom Foley, Nathan Glazer, Ernest Hollings, Hubert Humphrey, Samuel Huntington, Daniel Inouye, Max Kampelman, Jeane Kirkpatrick, Charles Krauthammer, Irving Kristol, Seymour Martin Lipset, Daniel Patrick Moynihan, Joshua Muravchik, Michael Novak, Sam Nunn, Richard Perle, Richard Pipes, Norman Podhoretz, Bill Richardson, Chuck Robb, Eugene Rostow, Ben Wattenberg, Paul Wolfowitz, James Woolsey and Jim Wright.[14][15][16][17] Many of these were later associated with neoconservatism.[18] Some, including Aspin, Bentsen, Nunn, Richardson, Robb and Woolsey, participated in the Democratic Leadership Council and/or Bill Clinton's administration, while several others, including Kirkpatrick, Krauthammer, Kristol, Muravchik, Novak, Perle, Pipes, Podhoretz and Wolfowitz, eventually became Republicans and/or served under Ronald Reagan, George H. W. Bush and George W. Bush
- 42 minutes in "Classic Blow-Back", in Somalia trained operatives use Afghan Techniques to take out Helicopters
I like Ben, but it's obvious he's being painted as an oddball. He doesn't stand a chance. No matter, I don't vote anyhow. Pointless.
Thus we get the government we deserve. If Americans are stupid enough, which we/they most certainly are, then they deserve to get screwed over, again. What sucks is our children and the rest of the world pay the price...
No we don't deserve this shit. Quit repeating that worn out idiotic cliche. No one deserves these bastards.
Ben who?
JY
Ben There. Done that.
u don't need gold and silver to have a sensible monetary system, but obviously u don't let privately owned banks produce money out of nothing.
http://www.monetary.org/intro-to-monetary-reform
The first printed money was 680 BC, and the oldest gold coin is 610 BC. Yeah this paper money is so modern and cutting edge!
That gold coin still commands $1200 / ozt. That paper money? Not so much unless it goes to a collector. Oh wait, 99.9999% of the paper money from that time has been destroyed. Not so with gold.
sexual harassment scandal in 3..2..1
Ben, you're allowed to think it but never ever mention it in public. Even presidents get shot in the head for that.
Have you ever noticed Cosby wears a hoodie?
Just say’in I noticed.
"Ben, you're allowed to think it but never ever mention it in public."
There are some things that he can think and mention in public.
For example, Obama race baits and pushes every radical leftist social program there is.
Yeah, when they suggested he add to his wardrobe, I assumed they meant a Pope Mobile or bullet-proof vest or even an Oozie.
Is that a bananna in your pocket or are you just afraid to see me?
Here are some signs of a coming recession.
http://www.zerohedge.com/news/2015-10-02/us-factory-orders-flash-recession-warning-drop-yoy-10th-month-row
http://www.zerohedge.com/news/2015-10-02/us-financials-default-risk-spikes-2-year-high
http://michaelekelley.com/2015/09/27/vix-predicts-pits-while-pundits-have-fits/
http://michaelekelley.com/2015/05/29/mergers-and-acquisitions-set-record/
http://michaelekelley.com/2015/02/20/fed-warns-of-two-bubbles/
Here is how to prepare.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Here is how to get your mind off this stuff.
http://michaelekelley.com/category/humor/
Good luck!
Trump is Brilliant. Now go correct the humor section of your blog
I liked Ben until I found out he made a trip to the Wailing Wall. That's right, Shalom.
No doubt you would have LOVED him if he made a trip to Mecca?
That's right, it's Allahu Akbar for you unless you put on a new burqa!
POTUS's allegiance should be with the American people and no one else. In case you went to public schools, that means neither Zionism nor Islam.
Some jews are fucked up racist nutcases who believe their actions are acceptable because they a have a special relationship with g-d.
Some muslims are fucked up racists nutcases who believe their actions are acceptable becuase they have a special realtionship with Allah.
Not that much difference between either of the faithfull who use coersion, violence, or threats against non-believers of their fantasy religion.
Mecca is a fucking meteor where nearly ever single year numerous adherents following Islams demand that all must visit, get killed by a human stampede. How many centruies have they not even thought about adequate crowd control and we should let these guys run important things like others soul and status with the supreme being. Is this just a Sunni thing? s I fine it hard to believe that Shia, who make new shrines all the time would have no need for mecca.
Israel is where Jesus once hung out so it has got to be better, except some of those guys are fucking nutcases who think their actions are acceptabe since they have a special relationship with the son of god.
I'm gonna upvote that. Don't know why any of our presidents need to travel to th middle east. Including israel.
I get a kick out of how people vote down without the courage to state why...But for Ben, you never know, he may be just walking the Zionist walk, in American politics you will never get past first base without the nod from the Jews. Of course, if he is playing a wolf in sheep's clothing, and once into office turns on our "closest ally in the Middle East" JFK can tell you how that will turn out.
Trump-Carson 2016!!
Neither the Social Security or pension systems are getting canceled. Both began when the fiat system was introduced.
I am voting for the candidate who best fits after the collapse. No one fixes this fucking mess.
We need the dictator!!! Hell, yea!! Let the American military fully rampage across the planet.
We can take ‘em. Nobody can stand in our way.
God Bless the U.S.A. by Lee Greenwood
https://www.youtube.com/watch?v=Q65KZIqay4E
He's not looking to Get JFK'd but MLK'd
FBI trolls are working on it now, no doubt.
This was formed before he or me or anyone else was born.
He is right to call it out all this FIAT money because in this world those controlling the game use it for their own end like a WMD against populations home or abroad.
Imagine if you were allowed to print dollars, well why not in this dollar world where only one side gets to print and on that 80 billion a month. What 400 million US citizens ... erm .. 80E9 / 400E6 = a kewl $200 a month for nothing and how many months?
Did you get a cheque for this? No? didn't think so...
if even one student in the classroom in OR had a concealed carry, many fewer lives would have been taken
A pro-gold standard president would never get elected.
And if they were somehow elected, the CIA and The Fed would quickly "unelect" him.
This country is owned, pure and simple, the circus act known as voting is a dog and pony show to keep the masses passive while the bank robbery is in progress.
Dred4dwolf...I agree that this is the way it is now but I disagreee that it cannot be changed, Im not saying it will be easy.
The first thing to do is to teach the sheeple why to insist on gold as money and nothing else.
That will be the hardest part in pulling this off... once established it wouldn't matter who they shot or what idiot got elected into power as long as the sheeple insisted that gold is money... that is the beginning....then this would keep the .gov's spending under control...it would stop the US.gov from starting all the phony wars and the contributions to ISis, maybe it would get rid of the C.I..A.. etc.
http://thehill.com/blogs/ballot-box/presidential-races/256687-carson-i-wont-be-silenced
I really like this guy.
two items; isnt it in the Constituttion that it is illegal to debase the currency yet the Fed explicitly tries to do such by 2% p.a?
secondly, there is a good/decent paper on the cfainstitute.org website regarding the drivers of the gold price, the only item the researcher could find with a poor .52 r-squared was gdp growth! not inflation at all...but th emore growth there is the more demand for gold there is....so in a way Yes, gold v. $ can be a counter cyclical impactor
Ben Carson/Ron or Rand Paul Ticket...would love to get them to make that announcement on my show
A neurosurgeon is better than a community organizer !
That's not saying a whole lot. my dog is better than a community organizer.
Toilet paper is more useful than a community organizer.
Although gold IS money, if financial sociopaths are running the government and the treasury like today, even a gold standard won't work. Just look at the daily manipulations of the gold and silver market now; get my point.
i didnt think it would take a brain surgeon to realize the value of sound money. Guess I was wrong. Lol
An interesting man running for POTUS. Very atypical in Merika.
Yes, very much so. Maybe it DOES take a brain surgeon to figure out what's wrong with this country. He should get Ron Paul as his veep and have an all physician ticket.
Sounds funny..........but these guys made their money saving other peoples lives, maybe they wouldn't be so gung ho (carly fiorina?) to send our kids over to the ME to fight Israel's battles.
Interesting indeed, and surprising that HE would address the fiat issue before Rand Paul.
Rand Paul has so many AIPAC visitors to his office that the locals call it little tel aviv. Rand will never speak out against his fiat masters. He fell very very far from the tree.
A metallic standard didn't stop Nero from watering down the aureus. Sorry Doc, give The Competitive Note Issue (aka Free Banking) a try, you'll like it.
I'd like to see states charter their own banks and issue debt free money that could be used within in the state. You would have to pay your fed taxes in FRN's but for everything else you could use the State bank script redeemable for silver or gold at current market prices on demand. Credit could be created only from depositors funds and notes would have to be held by issuing banks until maturity. Businesses that want to remain in the state would have to accept it along with FRN's.
Competing currencies...imagine that. What's in YOUR wallet?
To an extent, North Dakota does this through it's own state Bank in Bismarck. With it, the government has more flexibility in emergencies. They're the only State to try this as far as I know.
Fiat money IS the foundation of progressive government. Without it, the Left would collapse.
Well, that sinks HIM as a candidate. The Vampire Squid is hardly going to allow the end of fiat currency.
Practically speaking, though, a return to a gold standard is impossible at this point. The economy would have to collapse to less than a hundredth of its current value for there to be enough precious metal on earth to back it. Gold/silver is only going to be useful AFTER the collapse has run most of its way downhill.
Gold is priced relative to the currency; not the other way around.
Not so - there's plenty of gold. Just depends on how it's priced. I'll agree on one point - while the economy wouldn't HAVE to collapse before a gold standard was implemented, a reality check says it probably will.
Faeriedust,
There's more than enough gold. The question is, at what price?
A return to a gold standard would require runaway inflation - people will be begging for a gold backed currency. Certainly not out of the question with endless QE.
How about this for a radicle idea......
Take FE technology, which is currently sequestered in black ops projects, and gift it to the world, which would ultimately end the 4th epoch, the age of scarcity, and introduce the 5th epoch, the age of abundance eliminating the need for money, period.......
I don't hear Carson explicitly saying return to the Gold Standard, but reflecting that we're on a bad path. I'm open to some objectivity as opposed to the party pandering hot air.
Quick! Call Soleimani and get the Doctor some bodyguards!!
Better start opening Jodie Foster's fan mail, while you're at it.
I don't hear Carson explicitly saying return to the Gold Standard, but reflecting that we're on a bad path. I'm open to some objectivity as opposed to the party pandering hot air.
Congress has authority to coin and value money necessary to the production and movement of goods.
1) You cant have consumption (spending) without production (capitalism) first. The production created and distributed the money to
consume what is produced, after it is produced. So we see that fake service economy is waste malinvestment, is fraud creation
of fake fiat money, any degree of waste malinvestment fake money creation only occured at debasing stored real labor. Any
degree of waste labor that did not create the economic value of production had to come from debasing all generational stored wealth.
sort of like you medical tyranny hyperinflationary collapse does increasingly faster.
How do you coin and value the money then. You create out of thin air the money equal to the production and movement of
goods. If gdp as in gross domestic production increased 5% you have to create 5% more money, tax free, usury free.
Since you dont have tax and terror malinvestment waste you dont print growth plus usury plus tax plus fraud, you dont
debase the stored labor,
such as just today, SS is debased another year, no COLA, waste and terror malinvestment.
But how does this get into the system you say? It can only go to the producers which is paid to teh labor remembering step 1
above came first.
Tax free usury free constitutional money can only enter the system by buying corporate bonds. Corporate bonds can be
free enterprise competing regional banks. Competing banks then loan it out at competitive interest that is low because there
is no gov waste and terror malinvestment destroying labor, the means of production, or stored labor (retireees).
Money loaned at interest can only exist in zero waste zero fraud zero malinvestment natural state, or it cannot be borrowed
if it did not produce and economic return of growth.
so all answers lead to the same orginal fact, zero goverment, any or all gov is death.
So obviously you have to have accounting of domestic product. You dont issue
new money equal to domestic product, new money is issued equal to the change of domestic sales of domestic product(growth).
Therefore it is not fiat, it is created by production, the change of production, it is created by reality.
Money is labor, only labor creastes money. Since there is no
waste and terror govt malinvestment, fake fiat money is not undermining the stored value of labor, therefore the house built
40 years ago at 50k still costs 50k. Not devalution of labor.
So how do you do this in a fixed weight gold standard without mob coups electing to overprint fraud for their fees for friends
alphabet revolving door private oligarch district corporation alphabets,
how does this work in a fixed gold standard, a constant weight of gold in the system.
Each unit of growth increases the value of the money, the puchasing power of the money increases with each increment of
growth, the system self perpetuations tax and terror free such as guaranteeing
the value of stored labor such as that in retirement and pension.
So this system is so efficient, balance, just, you wont have any depended underclass overpopulation diluting the labor pool or
creating waste malinvestment fiat debasing the stored labor.
Obviously not the simple but the fist rule is no government, the second is counting of domestic production, the third
is increasing purchasing power of money with growth. Which is the natural output of capitalism, more for less.
All the opposite of the new world order fibonacci death spiral accelation, that instantaneous swoosh down the toilet chute.
Ridiculous $15 drop in gold to end Columbus Day. This Shit never changes.
Patience, grasshopper .... many have died waiting for the big bang ?
So true, it will happen sooner than I thought, I was betting on the whole thing to cave in Fall of 2017. The media, Fed, Congress et al have Barry's back and wont let things crash if they can while Barry is in office, afterall he is the first black President.
The cycles should be up for 2-4 weeks, I see a drop this week, this is a weak spot in the cycle this week but up again.
Coins are up $100 from the recent low. All my metal is positive. What I bought in several lows since the
Dec 2013 crash. I have some silver from before higher but it is heavily averaged down, all my gold coins are positive.
I knew all along to stay away from the paper, just the real thing. My cycle low is still out there next May but
the coins are already not available, very little offerings and even less offered with the price up $100. That was my
premise to buy in each low. It would not be available, "they" are buying what they are crashing, I can be early but
not an hour late. My dealer said they had very littel 90% silver where this was plentiful recently, they probably bought
it up to melt it down, 90% premiums way up. Silver never even got cheaper in the last low, premium just went up, it
was bought up.
How DARE US sheeple question the INKS and PAPERS in which US govt prints the doollllaaaahhhh???
Fed Reserve website just changed from .org
to
.gov
interesting.
http://www.federalreserve.gov/
Should have always been a .com. Because those f'ers have ALWAYS been about profit.
Suddenly, Carson gains enough bonus points with me where he ties Trump. As soon as I see him gain enough fire in the belly ( Hint : more than Ron Paul) then he gets my vote. Nevertheless, he "gets it!"
Then get ready to roll up your sleeves until he clarifies his comments on (manadatory) vaccines.
When there is no difference between cash and debt, only the hell is the limit.
The cold hard truth of the situation is this: Either the USA returns to a gold (or silver) standard, or the Chinese will......That is a FACT. And if the Chinese beat us to it, you can kiss reserve currency so far goodbye that anything short of the total military distruction of China will keep them in the drivers seat. In my mind, it is a matter of national security, no less.
Wot 2 Tell Carson, Ben Carson, about Banking, Central Banking, War, National Security, Corporate Bailouts(as if there was any other kind), Corporate Bail-Ins, Financial Regulation & Integrity, Financial Reserves, Financial Discipline, and the Lobbying from Banks that Corrupt the Systems?
Unfortunately I am not a Finance or Banking Expert... so comments are appreciated.
12 October 2015:
during an interview with NPR. While discussing the nation’s current debt, Carson said:
"[T]he only reason that we can sustain that kind of debt is because of our artificial ability to print money, to create what we think is wealth, but it is not wealth, because it's based upon our faith and credit. You know, we decoupled it from the domestic gold standard in 1933, and from the international gold standard in 1971, and since that time, it's not based on anything. Why would we be continuing to do that?”
18th Century Finance included, Gold Reserves, Gold & Silver Standards, Fiat Currency, Legal Incorporation of companies, public finance, corporate finance, personal finance, stocks, bonds, dividends, and Usury
18th Century witnessed financing problems for common people & agricultual businesses, while monopolies emerged with little problem getting more financing.
18th Century or earlier witnessed Rothschild international solution to Exchange Rate and cross border financing.
Bankers Philosophy: we care not who controls the government as long as we can control the currency.
1840 - 1860 until World War I, Second Industrial Revolution,
1861 - 1865 US Civil War
1873 - 1879 - Long Depression in US & Europe, 18,000 businesses went bankrupt, 89 railroads, 10 States, 100s of Banks
1913 - Creation of 3rd US Central Bank, Privately Owned US Federal Reserve
1914 - 1918 World War I
1929 - 1941 Great Depression
1930 - creation of Bank for International Settlements (BIS) originally to ease foreign exchange rates for German Reparations?
1933 - decoupled from domestic gold standard,
1933 - Securities Act of 1933 and the Glass-Steagall Act (GSA),
1939 - 1945 World War II
1944 - Bretton Woods Conference (United Nations Monetary and Financial Conference)(to regulate the international monetary and financial order)
1944 - creation of International Bank for Reconstruction and Development (IBRD)(world Bank).
1944 - creation of International Monetary Fund (IMF),
1956 - Bank Holding Company Act of 1956 (BHCA)
1963 - 1974 US-Vietnam War coupled with federal budget problems, Gold Standard,
1970s - "Big Three" Auditing Agencies Fitch Group, S&P's, Moody's are the private agencies that regulate banks the most
1971 - decoupled from international gold standard,
1980 - The Depository Institutions Deregulation and Monetary Control Act (J. Carter, followed by S&L Crisis, 5000 convictions, RTC)
1980s -1990s Savings and Loan Crisis, Fraud or Cronyism mixed, after deregulation
1996 - Energy Deregulation (W. Clinton, followed by ENRON Scandal)
1998 - Citicorp & Travelers Insurance Merger
1999 - Gramm-Leach-Bliley Act (GLBA), repealed most of Glass-steagall Act
1999 - Dot.Com Tech Bubble Burst, no earnings for major publically traded companies
2000 - Commodity Futures Modernization Act of 2000 (P. Gramm, W. Clinton, derivatives)
2002 - Sarbanes-Oxley Act of 2002
2008 - Global Financial Crisis, US Subprime Crisis, Housing Fraud, Foreclosures without paperwork
2008 - TBTF Wall Street Banks convert to Holding Companies and now control 40% of US Deposits
2008 - Corporate Bailouts for TBTF Banks, plus LIRP/ZIRP, TAF/TALF/CPFF, and QE
FIRES Regulations
- Regulation D (SEC)
1933 - Securities Act of 1933
1934 - Securities Exchange Act of 1934
1938 - Temporary National Economic Committee (establishment)
1939 - Trust Indenture Act of 1939
1940 - Investment Advisers Act of 1940
1940 - Investment Company Act of 1940
1968 - Williams Act (Securities Disclosure Act)
1975 - Securities and Exchange Act
1982 - Garn-St. Germain Depository Institutions Act
1999 - Gramm-Leach-Bliley Act
2000 - Commodity Futures Modernization Act of 2000
2002 - Sarbanes-Oxley Act
2003 - Fair and Accurate Credit Transactions Act of 2003
2005 - Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)
2006 - Credit Rating Agency Reform Act of 2006
2010 - Dodd-Frank
The Brown-Kaufman amendment (or the SAFE Banking Act)[1] was a failed 2010 amendment proposed in the United States Senate to be part of the Dodd–Frank bill by Democratic Senators Sherrod Brown (OH) and Ted Kaufman (DE). It sought to address the moral hazard of too big to fail by breaking up the largest banks with limits on the size of financial institutions.[2][3] The Christian Science Monitor said the amendment was based on the idea that "too big to fail is too big to exist."[4] The New York Times called it a liberal initiative with pure "populist appeal".[3]