Guest Post: Counterfeit Money, Counterfeit Policy

Submitted by Charles Hugh Smith from Of Two Minds

Counterfeit Money, Counterfeit Policy

What is the difference between printing money and counterfeiting? There is none.

Counterfeiting is illegal because it is the false creation of value. The counterfeiter takes low-value paper and turns it into high-value money, which is fundamentally a claim on the real productive value of the economy that issues the currency and recognizes it as a proxy means of exchanging that productive value.

Counterfeiting is illegal because the counterfeiter creates no additional value--he creates only the proxy for value. Creating real value--adding meaningful goods or services to the economy--is tedious, hard work. How much easier to simply transform near-worthless paper into a claim on actual goods and services.

If this is illegal, then would somebody please arrest the Board of the Federal Reserve for counterfeiting? The Fed has blatantly printed money without creating any real value to back up their added claims on productive value. Hence they are counterfeiting, pure and simple. A government based on rule of law would arrest these fraudsters and cons at the earliest possible convenience.

And while you're drawing up the indictment, can you also charge them with counterfeiting competence and policy, as they have demonstrated the Peter Principle par excellence: the Board has risen to its highest level of incompetence. Their counterfeit policies have wreaked incomparable damage on the real productive economy.

The essence of counterfeit policy--a fake policy that claims to be something it is not--is "extend and pretend." And the sole goal of "extend and pretend" is self-preservation and the preservation of the Financial Elite which has tightened its grip on the nation's throat as a direct consequence of Federal Reserve policies--notably "extend and pretend."

"Extend and pretend" extends the "too big to fail" Financial Sector's licence to mask its insolvency and its licence to continue issuing debt, leverage and derivatives under false pretences, i.e. that the risk and market value of these instruments are transparent. They are not.

In effect, the banks are also counterfeiters, as they are issuing debt--a claim on future productive value--without adding any actual value to the economy.

Thus the Fed and the Financial Sector are both diluting the base of actual real value with ever-expanding claims on real productive value by printing money and issuing debt. If an economy creates 100 units of productive value, and issues 100 units of currency as a proxy claim on that value to be used as a means of exchange, then there is a 1-to-1 correspondence with the money claim on productive value and the actual value.

If someone prints another 100 units of money and starts buying assets with that money, then they are claiming 1 unit of money still equals 1 unit of production though they have debased the currency so that it actually takes 2 units of money to represent 1 unit of productive value.

This is a con of the first order, which is why counterfeiting is illegal. If counterfeiting is illegal because it is a con, a fraudulent claim on real goods, services and assets, then how can money printing by the Fed (a private bank, mind you) be legal?

It can only be legal in a kleptocracy ruled by a Financial Elite bent on political and financial dominance, a Plutocracy whose wealth is all skimmed from the productive economy via ever-expanding issuance of money and debt.

When corporations and the State are one, we call it fascism. In the U.S., it has taken the form of financial fascism, and the Federal Reserve and Federal agencies (Treasury, Freddie Mac, FHA, etc.) are the handlers and enablers of this kleptocratic financial fascism. They add no value, they only steal value from those who create it.

Comments

[arnaldo]

Countefeiting is better as it creates something tangible, the Fed instead does not create anything real......

[Clueless Economist]

Green Shoots

Hope & Change

Change we can believe in

Recovery Summer

Turning the corner

Jobs created or saved

Winning the future

[Careless Whisper]

The Careless Whisper News Update & Threadjacking

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http://blog.foreignpolicy.com/posts/2012/01/20/are_we_becoming_chinas_bitch

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http://shanghaiist.com/2012/01/31/mcdonalds_starbucks_and_pizza_hut_r.php

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Ron Paul Welcomes Endorsements From Snoop Dogg And Barry Manilow: Radio Interview

http://www.youtube.com/watch?v=nQRYAl021Vw

SuperBowl Ad; Toyota Camry Reinvented

http://www.youtube.com/watch?v=T8XmdQjJ7BM

[spiral_eyes]

When governments get into counterfeiting, other governments will punish them for it. In the end, even the hegemon's actions will have consequences.

Putin and Wen are kicking the dollar off its perch.

http://azizonomics.com/2012/01/27/the-shape-of-eurasia/ 

[Mr Lennon Hendrix]

Yes they are, but they are replacing the dollar with yuan and ruble, so what is the difference?  It's all fiat....

[A Lunatic]

One man's fiat is another man's treasure.

[SilverIsKing]

"A government based on rule of law would arrest these fraudsters and cons at the earliest possible convenience."

They're getting to it.  They just haven't found a convenient time to do so.

[Badabing]

I “vote” against the counterfeiters by buying physical gold and silver!

[The Big Ching-aso]

FIAT..................Fix It Again Timmy?

[JW n FL]

http://www.youtube.com/watch?v=92OV3RbU3ek&list=FLbRZZAixeFXZfqszvKisEdQ&index=2&feature=plpp_video

Ron Paul - Watch this presentation to see why so many people are endorsing Ron Paul for President

Uploaded by EndorseLiberty on Dec 21, 2011

Please endorse Ron Paul (http://www.endorseliberty.com/ronpaul) and donate to Endorse Liberty (http://www.endorseliberty.com/donate.php) so we can buy advertising and make more videos like this. Endorse Liberty is not authorized by any candidate or candidate's committee.

[TruthInSunshine]

"The international bankers have succeeded in doing more than just controlling the money supply. Today they actually create the money supply, while making it appear to be created by the government. This devious scheme was revealed by Sir Josiah Stamp, director of the Bank of England and the second richest man in Britain in the 1920s. Speaking at the University of Texas in 1927, he dropped this bombshell":

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin . . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again. . . . Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.³

Web of Debt - Introduction

[economics1996]

Here is an excellent article by Joseph Salerno giving a brief description of the process of central bank theft.  For those who are serious financial guys with IQs over 110 I would highly recommend his book "Sound and Unsound Money."

http://mises.org/daily/377

[economics1996]

Here is a link to the book, for serious students of finance.

http://www.amazon.com/Money-Sound-Unsound-Joseph-Salerno/dp/1933550937

[TruthInSunshine]

The size of the black/gray market, with transactions taking place outside of officially measured channels, grows by the day, globally.

The black market is estimated to be the 2nd largest economy in the world, after the combined economic output/transactional activity of that of all of the EU Zone Members.

I would not be surprised if it were larger.

As The Bernank and his herd thinkers/fractional reserve charlatans keep suppressing organic, free market forces and dynamism, the black market will only grow larger.

You can buy things 1/2 off in European cities if you agree to not take a receipt, and to pay in cash, right now.

[monoloco]

It's tough freeing up the manpower with all those dangerous pot growers in California that need to be prosecuted.

[pkea]

not all fiats made the same....one fiat could be more valuable than another:)

[economics1996]

I hear our paper stock is better than Mexico's.

[General Decline]

Wait a minute.... Is this article saying that counterfeiting laws are selectivly enforced?  So there are two tiers of people in America?  Those who are allowed to counterfeit and those who cannot?  I am personally shocked at this revelation.

Ok...enough sarcasm.  What is depressing to me is when I try to explain this simple concept to others, all I usually get are blank stares. 

[Vampyroteuthis ...]

You forgot the golden rule, "He who has the gold makes the rules". You have the money and power, you can make counterfeiting legal for yourselves and cronies. Ugly truth.

[ratso]

Charles Smith doesn't understand the responsibilities of the Fed - oh yes, I almost forgot, he also doesn't know what he is talking about.  It's too bad that there are so many gullible minds that think this kind of crap has some meaning.

[NotApplicable]

You fo' reals?

[economics1996]

I am more amazed every day how well propaganda works.  

[Bluntly Put]

See, this is what I don't get. They hold the gold as do all central banks in order to control it's price and eliminate its circulation in the economy to function as money. This allows them a monopoly on "value". So, their "value" is debt, and yet they can seemingly issue as much debt as they deem necessary. So, if they can issue as much debt as they want, and scarcity is a fundamental variable in "value" then where is the value in debt?

Essentially they are all con men, our civilization has been conned by illuisionists and magicians of the highest order. Who would have thought over thousands of years of human evolution that the con men would end up controlling the world. Hah! Con men only have value when they can con others who have the real value, so if con men have the value who do they con to steal the value?

[Esculent 69]

you should see the blank stares i get when trying to explain with graphs that 30% of the tax burden is paid for by the top 1%, or the difference between earned income and capital gains.  I might as well be giving a dissertation on quantum physics and explaining fractal equations. All i get from them is "Yes we can. Hope and Change. It's all Bush's fault" crap. 

[Ghordius]

a sovereign's right to coin is not called counterfeiting, it's called seigneurage

a sovereign's right to inflate fiat currency is just a tax on the holders of the fiat currency (by the way, this affects foreigners more than US citizens)

this is all part of international law since ages

counterfeiting involves breaking the law - you can't claim now the illegality of a system that in the US is 100 years old next year

the crux of the matter is that the handlers of the legal/financial extraction system are enriching themselves in the process. for this, there is also a word: corruption

and no, it's not fascism. call it a corrupt cleptocracy or a depraved crony-capitalistic system, but don't call it fascism. fascism is perhaps much worse, but still different

for corruption: apply the existing laws

for the derivatives market - the biggest sham in this - bring back online the old laws

[GeneMarchbanks]

'and no, it's not fascism.'

Here's a Koestler quote: “...the integrative tendencies of the individual are incomparably more dangerous than his self-assertive tendencies.”

As that great man understood, wars are fought over words. If you define fascism as a compulsive collectivist movement, which it is, then it just becomes a question of where you draw the line. DO we have something similar to Mussolini? Maybe, or not. Who is to say? To keep the word in reserve like it is some boogeyman, is a terrible mistake in my opinion.

[Ghordius]

I disagree strongly (and perhaps melodrammatically)

history shows that every political body can fall ill, from time to time. to keep up the medical analogy, in order to heal itself early, it has to correctly diagnose the problem, in this case corruption, similar to infection. only then you can cure it without getting to the stage of a fever - which can be fascism, among others.

as doctors study the different illnesses of the body, the elector has a duty/right to educate himself and others, or suffer tyranny

I think the Founding Fathers would agree with me - I could go on for pages on this

[GeneMarchbanks]

You can soften the language if you wish, certainly it appears to be a solution for mitigating aggression. My suggestion is to read the Black Swan of Cairo by Taleb on his site. A roadblock for the Empire is now slowly turning into an insurmountable brick wall. From now on it'll be a series of crises for the West that I know for a fact few are foreseeing. Genuine problems are going to be met with complacency and clumsiness and collectivist groups will promise rescue which will probably turn violent at some stage. This so called democracy has in fact been trending in uniformity for some time now and if you identify these: corporatism, expansionism, state propaganda and anti-socialism as fascist, then yes, use the word in a free manner. The above mentioned are to my view not only obvious but blatant.

[CompassionateFascist]

Socialism  is (Red) Fascism, you stupid F**k.  

[GeneMarchbanks]

No. There is a contrast. Both are a reaction to capitalism.

[Ghordius]

Oh. No, I don't try to soften anything. perhaps it's really only this: while lots of fascist regimes end collectivist, they usually don't start collectivist-as-such, only restrictive in personal and economic liberties because the political body feels some individuals had too many freedoms - the corrupt ones.

the fascist regime is the call for a strong hand that cares, and cleans/symplifies the mess the corruption made - answers the call for help that the socialists and communists also try to cater to.

first freedom, then corruption of freedom, then revulsion, then the path can go to red-collectivist or/and switch to black-restrictive, then revulsion, then freedom again.

[Ghordius]

I'll make a practical example: on the way to fascism, the political will of the supporting group solidifies, for lack of a better term. the party doctrine gets fixed and the leaders will not be questioned anymore. this leads to extreme faction/party discipline. Laws become shorter, lobbyism is strongly simplified, special interests have to take a step back. political pork is usually given by the leadership, exclusively. it's all about action, not words. It's about not having discussions anymore, with some draconian measures for those that are identified as the former corruption.

of course this is not describing how bad it becomes afterwards

Russia is going through it, Hungary is sliding into it, but of course we have also all the usuals like Syria, Iran, etc. etc.

the US of A are not there, it's still about corruption

[nmewn]

"...history shows that every political body can fall ill, from time to time. to keep up the medical analogy, in order to heal itself early, it has to correctly diagnose the problem, in this case corruption, similar to infection. only then you can cure it without getting to the stage of a fever - which can be fascism, among others."

Its my understanding that fascism AND socialism AND comminism spring from one warped vision.

A statist vision.

Fascism just tried to skip over the whole "communal" thing. But as history has showed (and is showing now) they all ultimately lead to one place.

Enslavement of the masses instead of the liberation of them.

[Ghordius]

"history has showed (...) they all ultimately lead to one place" - might be, I'm focussing on where they start

"Enslavement of the masses..." - I fully agree

on the statist vision, I disagree. very often you have fascists fighting socialists/communists exactly on the this point, and the fascists usually collect the approval of the masses that are against the statist vision

[nmewn]

Right.

My point is, the people shouldn't allow themselves to be seduced from the start by them. 

Both systems (as envisioned) end in the same place, always. Its not because they were done wrong. Or that fallible men tried to make them work but being fallible couldn't. Its that both are wrong for the free man. And men are meant to be free.

You are correct that socialists/communists and fascists are in a perpetual state of war with each other.  But its rather like two brothers fighting over the last slice of pie at the dinner table isn't it?

Both will fight to exhaustion or death over something neither one of them put any effort whatsoever into making and neither of them will be around in the long run to clean up the mess they made ;-)

[GoinFawr]

Your denial is an ugly thing, 'last year's man' that you are.

Eg.  Jesse's Cafe American sums it up:

"Faced with the risk and rigor of 'free markets' and the drive to zero economic profit through increasing competition, there is the impulse to create monopolies, manipulate prices, and control information to line one's pockets.

It is the natural tendency for clever people to stretch the rules and even break them to gain an advantage over other participants. This is what makes the idea of the natural efficiency of free market systems so laughable. They work fine as long as there are no people involved in them. Freedom and justice take hard work and dedication, and are not the natural state of the world.

This is a basic principle of transactional systems, whether ownership resides in the capital or the labor end of the equation. It explains the quicker failure of state communism since it concentrated power in the corruptible few from the start rather than dispersing it more widely in 'the market.' It is the government of the few versus the government of the many. The one percent are the one percent, no matter the color of their flags."

And just in case that didn't paint enough of a picture for you,
Walmartism illustrates nicely what always happens to your pipedream, regardless. 

In my opinion, you're likely a low level bank minion, ironically ext(r)olling the supposed virtues of their 'deregulation' under the guise of a proponent for 'liberty'.  You use all the same outdated, easily refuted arguments they do anyway.

hahaha, I've got you and your team of fluffers working double time these days, 'spreading the myth'. But you just can't alter this,

http://www.guardian.co.uk/news/datablog/2010/may/27/debt-deficit-oecd-countries-data

facts are so darn stubborn...

Time again for you to close your eyes, stick your fingers in your ears and scream,

"The stars at night, are big and bright..." <clap!clap!clap!clap!>

[nmewn]

Well, well well, if it isn't my favorite trollish "man/woman/it without a country".

Sooo, you comin outta the closet here as a fascist or a communist? Or some sort of amalgamation of the two because neither have ever worked out in totality?...perhaps a "progressive"?...lol.

I would think its some sort of blended nonsense involving the state heavilly...but I also know you hate to put yourself out there with any sort of program, as then, you would have to explain its faults & virtues.

Much better to stand back, acting omnipotent, while taking pot shots at something that hasn't existed for generations. Yes?

So, now, please enlighten this wholly unworthy peon observer of society & economics that now finds himself groveling in your divine presence. What is the best system as it relates to the betterment of the human condition in your opinion?

Try not to strain yourself but, give me the country or economic system that puts all others to shame. My money is on the fact you won't or can't...prove me wrong GF.

As an aside, what the fuck is GoinFawr anyways?

[GoinFawr]

" you comin outta the closet here as a fascist or a communist?"

Your political spectrum is so narrow that to you that's anyone who doesn't happen to worship the delusional world of capital shitting unicorns that only ever existed in you and your ilks' heavily conditioned domes.

"Much better to stand back, acting omnipotent, while taking pot shots at something that hasn't existed for generations"

You mean when there were still indigenous populations left to be 'flushed out of their dens'; their lands and resources yet to be plundered? Before the Great Lakes of North America were poisoned by the likes of you who assured us that 'dilution is the solution' and any and all civil oversight was unnecessary? Yeah, those were great expansionist times in NA, if you happened to be light skinned and willing to murder and steal, or profit from them. Again, the fantasyland you envision never existed.

"So, now, please enlighten this wholly unworthy peon observer of society & economics that now finds himself groveling in your divine presence. What is the best system as it relates to the betterment of the human condition in your opinion? Try not to strain yourself but, give me the country or economic system that puts all others to shame. My money is on the fact you won't or can't...prove me wrong GF. "

Well now, I've provided examples on many occasions. It must be a 'strain' for you to be so wilfully ignorant, and actually expect me to believe that you missed all of them. Cripes, on this very page I've already linked some excellent cases. So I don't see the point in repeating myself on that subject any further as you're obviously incapable of processing new information.  Rest assured that I've already proven you wrong, time and time again.

"I would think its some sort of blended nonsense involving the state heavilly (sic)"

Of course you would write that in order to negatively preface anything I might introduce.  You couldn't possibly cling to your ridiculous pipedream if you didn't, even though it's really a 'blend' itself. An ideology which, ironically, inevitably involves the state 'heavilly', as Marx was absolutely correct in pointing out. I mean, look the fuck around you. And no, I don't think he had the solution. Balance isn't 'nonsense', judging by the balance sheets. But your sophomoric absolutism sure as hell is.

"As an aside, what the fuck is GoinFawr anyways?"  Hehe, my that's rich coming from you 'nmewn'; which makes a nice case in point.

Thanks for the chuckle, tex.

[nmewn]

"Well now, I've provided examples on many occasions."

Just as I wagered. You won't or can't provide the economy or country that puts all others to shame. You cannot articulate in your own words what or where it is. And you know I don't click on links of those I do not trust, that would be you. Which "ironically" has much to do with economy and ideology.

But this is a diamond in the rough we will have to explore fully if you feel up to it when I return from work this evening...

"An ideology which, ironically, inevitably involves the state 'heavilly', as Marx was absolutely correct in pointing out."

How so? Which part of his Manifesto are you referring...all of it?...lol.

[Ghordius]

so all it all, beside a sprinkle of unnecessary ad hominem vs mnwn, you agree with me on corruption of a regulated market (since I read Jesse's POV as postulating that unregulated markets are quite illusionary) in a decaying rule-by-law legal environment being the starting point of of troubles that lead to a reaction in fascist/communist paradigms?

I understand mnwn is following the Austrian School of the free market between free agents - you seem to point to the fact that when the agents have a massive difference in market power/size you can kiss goodby to "free market". Am I wrong? And I thought your were kindred-in-spirit.

[nmewn]

GowinFawr's position is...far as I can tell, if I were to sell you an apple it must be reported to the state or even if I gave you an apple it must be reported to the state.

Regulation of any and all seems to be key to her/his world view.

But of course, its hard to tell what any of her/his positions are as he/she refuses to take one, in my opinion GoinFawr's position is just simply a collectivist-statist one.

You should ask her/him the simple question of where it calls home.

It will act like you just ran over its puppy...lol. Unlike the rest of us, who freely share at least what continent we live on, GoinFawr refuses even that.

For reasons of its own, which is fine, but it certainly subtracts something to the element of trust. Which is why I don't click on any link offered by him/her...as I said above.

Yes, I'm a fiscal conservative and libertarian for the most part socially. I believe the Austrian School is the proper way to view an economy as it is the participants (the individuals) in it that make any economy.

Not the state.

This does not mean un-regulated economy because individuals make up an economy...and we know people are full of the same greeds along with the goodwill & charity that is...the individual. Just as it does not mean using the power of the state to force an economy in its policy direction...which leads to cronyism, taxpayer subsidized solar and ethanol is the classic example of the opposite of a private monopoly, for example.

At any rate, glad you stuck around to find, perhaps, a more kindred spirit ;-)

Seeya

[akak]

Ghordius said:

Ghordius, I am not trying to pick on you here, as your English is generally excellent, but you make a very common mistake among non-native English speakers here with your above use of the word "since".  One can NOT properly, or logically, use in English the word "since" as you did above in reference to past time --- it makes no sense.  What you should say is "FOR" instead of since, or "since (a specific time in the past)", or "since ages AGO", as follows:

This has all been part of international law for ages

This has all been part of international law since the Middle Ages

This has all been part of international law since ages ago

You might want to look into the use of the English word "ago" in reference to past time, in particular --- I have noted that many non-native English speakers have a lot of difficulty with the use of "ago" for some strange reason.

[Ghordius]

thanks

[DoChenRollingBearing]

The DoChenRollingBearing Threadjacking:

"How Long (Can This Keep This Going On)?" is the new article at my blog.  I also write about gold, review Barron's, and other material I hope will entertain my readers.  Would you like a look?  Gmail me at my name and assure me you will behave.  I make people jump through this hoop to keep out spammers & bots.

[BLOTTO]

You can't counterfeit Gold or Silver... Ive tried.

[Mr Lennon Hendrix]

Funny....that is exactly what the Federal Reserve has done for 99 years.  The alchemists dream was completed when true fiat replaced real monie internationally in '71.

[BLOTTO]

MrLH,

Wouldnt that be considered more as - manipulation and lies?

[NotApplicable]

When reality relies upon perception, bias is just as good as fact, if not better.

[Silver Bug]

All Fiat money is counterfeit money.

http://silverliberationarmy.blogspot.com/

[Esculent 69]

When tshtf we can have battles at all the football, baseball, and hockey arenas around the country where the banksters are the gladiators and the former althletes/criminals can be the lions and we'll all eat cake while waiting for this futher mucker to burn. BYOP (bring your own pot)

[evolutionx]

at the end of the day everything is Countefeiting

[Zero Govt]

Yep The Fed has indeed 'magic'd' alchemy but the real problem is it's a monopoly (on money)

without the free market (ie. no rules whatsoever) and the massively beneficial competition mechanism anything and everything turns to steaming crap

our world is being pissed down a sewer by monopolies in every market sector and Govt (an institutional monopoly that promotes/props-up/protects all other monopolies)

Kill Govt: the rest will sort itself out with immediate (beneficial) effect

[Island_Dweller]

Arnaldo says: Countefeiting is better as it creates something tangible, the Fed instead does not create anything real......

True, but also true is that with counterfeiting we don't have to pay interest on the printed money!

[Esculent 69]

Just print your own money at home. When the feds come to your door just tell them you are engaging in monetary policy. 

[CompassionateFascist]

Arrest a Rothschild? Even the Nazis didn't dare that one. Still, one can hope.

[Dr. Kenneth Noi...]

http://www.youtube.com/watch?v=yhldj52ZuUU

Coinage Act of 1792 FTW...  Execute the Fed!

[JacksNight]

Hello,

If you’re looking to overthrow our current tyrants I thought I’d share with you an excellent program to help Dr. Paul get elected.  It’s called the phone from home program.  The campaign has been using it to collect data on potential voters and help GOTV.  Also, if you live in NYC, there is a physical phone bank center located at 178 Mott St. open every day of the week.  Below is the link for the program and a video with further explanation.  This is a great system and I hope you all will take some time to make calls for the good Dr.  Sorry for the spam Tyler.

JacksNight

phone.ronpaul2012.com/v/

www.youtube.com/watch?v=sVzjGH5QGiI

[Spitzer]

Global warming and carbon credits have been a  keynesian scheme all along..

http://freegoldobserver.blogspot.com/search?updated-min=2012-01-01T00:00...

[Clueless Economist]

AlGore and myself disagree with you.

--P. Krugman Nobel Winner

[Spitzer]

There is nothing to dissagree with. They say it themselves

Poor you...having a nobel in keynesian economics just means you know nothing about real econimics

[e_goldstein]

Look out Paul. The aliens are coming for you.
http://www.dailymail.co.uk/news/article-2093279/Shipwreck-hunters-myster...

[Mr Lennon Hendrix]

Somone tell Paul his "prize" does not say "Nobel" on it.

Prize in Economic Sciences:

http://www.nobelprize.org/nobel_prizes/

[Urban Roman]

Don't you have some windows to go break?

[LawsofPhysics]

ah yes, because the keynesians have been sooo good at manipulating eCONomies all around the world, they have become even better at manipulating Nature as well.  Riiiiggggghhhhtt.

Thanks, but I'll maintain a healthy dose of respect for Mother Nature just the same and insure my own sources of fresh water, arable land, and other essential nutrients, again, thanks just the same.

[Jason_1sandal]

There is absolutely nothing wrong with protecting the enviroment, taxing carbon dioxide is a completely different matter. It is a hoax and a scam. I would be more concerned about the patch of garbage the size of Texas in the Pacific and the collapse of Bee colonies.

[r00t61]

+1.

There's a big difference in protecting against actual wanton pollution, like throwing batteries in the ocean, or dumping motor oil down the sewer, and fake, politically-created environmental boogeymen like anthropogenic "climate change," which are really just covert schemes to control people and tax them.

[moroots]

But fascism can't happen here, this is America!

[HamyWanger]

Charles Hughes Smith is a very dangerous conspiracy theorist, identified positively in the last ADL report. 

I'm horrified that ZeroHedge purposely reproduces here his demented rumblings, namely, conspiracy theories that central bankers are "out to get us", or conspiracy theories that the Federal Reserve is some sort of "front" for a secretive banking cabal wanting to increase their wealth and not a honest and indispensable government institution. 

Tyler, you sure put some interesting things sometimes, but you open way too much your Guest Posts to the fringe of the fringe. It is starting to harm the reputation of your site.

[lolmao500]

Ah the precious ADL... there's so much wrong with them I won't even begin.

[HamyWanger]

According to a survey directed by the Southern Poverty Law Center in 2006, the few Americans who oppose the actions of the ADL in protecting minorities tend to be, overwhelmingly, trailer park, low-brow white trash. Well, I think we have found a new subject to add to the sample. 

[lolmao500]

Same goes for the SPLC. Same trash as the ADL. They should be arrested and deported to Israel.

[ATM]

Sounds like a bunch of racist trash. 

[moroots]

This just in: According to a survey conducted by Hyper-political Group A, opponents of like-minded Hyper-political Group B are racists.

[CompassionateFascist]

SPLC=$PLC. A gang of scamming lawyer Jews with $250 million on Wall St.

[Clueless Economist]

Arab Defense League?

[Dr. Engali]

ADL= All Damn Liars

[mvsjcl]

Hamy, I'm not sure if your posts deserve an up or down arrow.

[americanspirit]

But Hamy - Tyler allows your demented rumblings from the fringe of the fringe that I'm sure do far more to lower the tone of this site than anything Charles Hughes Smith writes.

Wait - oh my god - you mean the central banks aren' t out to get us? That I've been duped! That the the Fed and Goldman Sachs and Citi and JP Morgue and the others are my friends? Good lord - and all this time I thought they were the bad guys. Now the veil has been lifted and the truth revealed. Thank you for cleansing my poor troubled mind Hamy. Please keep posting and raising the level of discourse on this poor, pathetic website.

[americanspirit]

This just posted by Mish - the list of Best Alternative Blogs. Where art thou Oh Hamy? (Gosh - I see "Of Two Minds" in there. How could that be?)

Best Alternative Blogs

1. The first slide is the above block quoted (indented)  text.
2. DealBreaker;
3. Business Insider
4. Zero Hedge
5. The Money Illusion
6. Mish’s Global Economic Trend Analysis
7. Credit Writedowns
8. Of Two Minds
9. Naked Capitalism
10. The Big Picture
11. Calculated Risk
12. The Reformed Broker
13. The Epicurean Dealmaker
14. Pragmatic Capitalism
15. Economonitor's Edward Hugh
16. Ludwig von Mises Institute
17. Minyanville
18. Abnormal Returns
19. Distressed Debt Investing

[Mr Lennon Hendrix]

At least he put ZH ahead of his own.  But Business Insider ahead of ZH?  And what the hell is DealBreaker?

[victor82]

Jesus, Jeb Bush's cousin, John Ellis Bush, edits Business Insider.

Alternative, my Bohemian Grove ass.

I'm waiting on those clowns for their Romney endorsement. They're taking their damn time.

[STP]

Ah yes, many good alternatives and I've perused quite a few of them.  Allow me to add Prudent Bear.  I've been reading Doug Noland's excellent commentary and market analysis for many years and he's got it right on!  It is always well thought out and a great read.

http://prudentbear.com/

Excerpt from Doug Noland's weekly commentary "Credit Bubble Bulletin"

"The Fed has for years operated with the premise that aggressive “Keynesian” stimulus has been necessary to stabilize a system hamstrung by post-Bubble headwinds.  I’ve for as many years argued that the problem was being dangerously misdiagnosed.  From my perspective, it has been much more a case of ongoing misguided “inflationism” sustaining history’s greatest Credit Bubble..."

"Most Bubble analysis focuses on valuation:  “A Bubble is created when prices move beyond that which is supported by underlying fundamentals.”  Again, my framework is altogether different:  A Credit Bubble is about a mispricing (under-pricing) of finance.  This mispricing supports the over-issuance of debt instruments.  And, importantly, Credit Inflation is self-reinforcing, in that the associated increase in purchasing power bolsters the fundamental factors central to the bullish premise.  Credit excess begets Credit excess.  Tech stocks always looked cheap compared to earnings growth rates, and the greater the mania in tech-related equity and debt securities the greater the capacity for industry expansion to justify ever increasing industry price-to-earnings ratios and stock prices..."

[americanspirit]

So after venting against HamyWanker in my last two posts I took a lunch break and was sitting outside enjoying a beautiful Texas afternoon (oxymoron to be sure) and was suddenly struck by THE TRUTH.

I will now share that revelation. Hamy is just too perfect an asshole. He embodies every one of the points of view that most here on ZH understand are the ramblings of a truely demented mind from WAY on the other side of the universe. In fact, if he didn't exist as the embodiment of everything loathesome he would have to be invented, by Tyler, to keep the troops riled up. That's it, isn't it Tyler? There is no Hamy. He is you. That's so perfect dude - you have outdone yourself! You have created the guy we all love to hate and planted him right in the middle of things. Congratulations. Master move.

Gotcha. I think.

[viahj]

the same has been said of RobotTrader

[akak]

And has been, by myself and others.

Or, might Hamy merely be a continuation of the repulsive trolling of his ostensible forebearer, "HarryWanger" (a.k.a. James Kostorhyz), continuing the latter's work in soliciting enraged anti-Establishment comments as part of his ongoing cynical study of "the psychology of utopian permabears"?

[lolmao500]

The Coinage Act of 1792 : death penalty for debasing the currency.

Time to bring back that law.

First in line : Bernanke.

[ATM]

Don't need to bring it back. It's still on the books!

[StychoKiller]

As I've stated many times before, "Tis death to counterfeit" is not just a human law, it's a Natural Law!  Nature supplies us with real, tangible things and expects to eventually receive tangible things in return, NOT FIAT!  Keep denying reality, you Progressive/Socialists, and Nature is gonna squash you flat -- unfortunately, Nature won't just discriminate against the Progressives, but all of Humanity!

[Cdad]

Someday, the citizens of the US will finally understand this fact about the Fed.  In fact, obviously some are with the ever rising popularity of Dr. Ron Paul.

Until such time as more citizens demonstrate that they understand the financial crime coming from the Eccles building, the Greater American Depression has no choice but to roll on.  Real capital formation cannot occur in this environment...only Bernanke capital formation can occur.  And so long as this is true, quality of life in the US will continue its relentless decline.

Bravo, Mr. Smith.  Right on target.

[Bwahaha WAGFDSMB]

Counterfeiting is illegal because it is the false creation of value

Wrong, it's illegal because competition would hurt bankers profits.