A century ago, politicians failed to understand that the financial panics of the 19th century were caused by collusion between government and the banking sector. Today, however, we do know better. We know that the Federal Reserve continues to strengthen the collusion between banks and politicians. We know that the Fed’s inflationary monetary policy continues to reap profits for Wall Street while impoverishing Main Street. And we know that the current monetary regime is teetering on a precipice. One hundred years is long enough. End the Fed.
There are those who would blame the people who have chosen to live far beyond their means. They have a point. The financialization of America; where Wall Street con artists,shysters and swindlers rake in billions for shuffling paper and making risky casino bets; mega-corporations ship blue collar middle class jobs to Asia in an all out effort to increase quarterly profits; politicians spend future generations into the poor house in order to get re-elected; and the Federal Reserve purposefully creates monetary inflation to prop up the corrupt system; has systematically destroyed the working middle class and created generations of debt slaves. The American people have been foolish, infantile, and easily duped. But it is clear to me who the real culprits in our long downward spiral have been. Lord Acton stated the obvious, many years ago:
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”
? John Emerich Edward Dalberg-Acton
In the 1st installment of this article – May the Odds Ever Be in Your Favor – The Reaping, we addressed how wealth inequality created by men rigging the system and utilizing media propaganda ultimately leads to rebellion. In Part 2, we will show how hope and defiance can ignite the flame of liberty in the minds of men. Edward Snowden has ignited that flame. A Lot of Hope is Dangerous... Linear thinking old timers are likely to scoff at the notion that some trilogy of novels for teenagers could capture the mood of the time in a way that explains how the people of this country will respond to the current worsening Crisis. History is cyclical and we’ve returned to a time where leaders will step forward to lead and brave heroes step forward to fight. The future of the country hangs in the balance.
The American people are coming to the realization that everything Ron Paul has stood for in the last 40 years is true. He has been proven right regarding the Federal Reserve, the Military Industrial Complex, and the Warfare/Welfare Surveillance State. The American people have grown weary of inflation, wars of choice and being spied upon. Ron Paul’s consistently right message is finally making headway... The corporate media will avoid reporting it. They try their best to ignore Ron Paul’s 30 plus year intellectual march through our institutions. But the facts in Pew Research’s 50 year survey of US views of “America’s place in the world” do not lie: This year the highest percentage of Americans ever — 53 percent — agree with the statement that “the US should mind its own business internationally and let other countries get along the best they can on their own.”
"In order for currencies to be 'exchangeable' they have to be backed by something," is the remarkably ironic initial comment from none other than debaser-of-the-entirely-fiat-dollar Alan Greenspan when asked about the "bubble in bitcoin," by Bloomberg TV's Trish Regan. Unable to "identify the intrinsic" backing of Bitcoin (or see bubbles in equity, credit, real estate, or greater fools) Greenspan is, apparently, capable of identifying Bitcoin "as a bubble," because "there is no fundamental means of "repaying' it by any means that is universally accepted." The farcical double-speak continues as the Maestro does a great job of making Bitcoin (which Ron Paul earlier noted could be the "destroyer of the dollar") look even better than the readily-printed fiat we meddle with every day.
One economic myth is that paper money is wealth. The proponents of big government oppose honest money for a very specific reason. Inflation, the creation of new money, is used to finance government programs not generally endorsed by the producing members of society. It is a deceptive tool whereby a “tax” is levied without the people as a whole being aware of it. Since the recipients of the newly created money, as well as the politicians, whose only concern is the next election, benefit from this practice, it’s in their interest to perpetuate it. For this reason, misconceptions are promulgated about the “merits” of paper money and the “demerits” of gold. Simply put, “Easy” money causes hard times.
The concept of the business cycle and its un-natural intervention-inspired boom-bust process is at the core of the following three minutes of dueling quotes from two of the most infamous public proponents of change (Ron Paul) - "Printing money is not an answer... Like all artificially-created bubbles, the boom... cannot last forever"; and the status quo (Paul Krugman) - "Cut interest rates a couple of percentage points, provide plenty of liquidity, and call me in the morning." You decide who "was" right, and who "will be" right again...
After a year of talks over the post-2014 US military presence in Afghanistan, the US administration announced last week that a new agreement had finally been reached. Under the deal worked out with Afghan President Hamid Karzai, the US would keep thousands of troops on nine military bases for at least the next ten years. In fact, much of the US government’s desire for an ongoing military presence in Afghanistan has to do with keeping money flowing to the military industrial complex. Addressing Afghan tribal elders last week, Karzai is reported to have expressed disappointment with US assistance thus far: “I demand tanks from them, and they give us pickup trucks, which I can get myself from Japan… I don’t trust the U.S., and the U.S. doesn’t trust me.” Let us hope that Karzai sticks to his game with Washington. Let the Obama administration have no choice but to walk away from this twelve-year nightmare. Then we can finally just march out.
It would be a mistake to think that QE is the first time the Fed's policies have benefited the well-to-do at the expense of the average American. The Fed’s polices have always benefited crony capitalists and big spending politicians at the expense of the average American. The well-connected benefit from inflation, as they receive the newly-created money first, before general price increases have spread through the economy. It is obvious, then, that middle- and working-class Americans are hardest hit by the rising level of prices. Far from promoting a sound economy for all, the Federal Reserve is the main cause of the boom-and-bust economy, as well as the leading facilitator of big government and crony capitalism. Fortunately, in recent years more Americans have become aware of how the Fed is impacting their lives.
On December 23, 2013, the U.S. Federal Reserve (the Fed) will celebrate its 100th birthday, so we thought it was time to take a look at the Fed’s real accomplishment, and the practices and policies it has employed during this time to rob the public of its wealth. The criticism is directed not only at the world’s most powerful central bank - the Fed - but also at the concept of central banks in general, because they are the antithesis of fiscal responsibility and financial constraint as represented by gold and a gold standard. The Fed was sold to the public in much the same way as the Patriot Act was sold after 9/11 - as a sacrifice of personal freedom for the promise of greater government protection. Instead of providing protection, the Fed has robbed the public through the hidden tax of inflation brought about by currency devaluation.
84% Of US Adults Don't Use Twitter, Only 4% Of Americans Over 30 Get Their News From Twitter, Pew Study FindsSubmitted by Tyler Durden on 11/12/2013 10:39 -0400
When it comes to Twitter, there seems to be a discrepancy in the publicly available user data. Recall that according to the company's S-1 filing, Twitter's US monthly user base has risen from 10 million in 2010 to just shy of 50 million. And yet, according to a just released Pew Research poll, a whopping 84% of the US adults were not Twitter users, and perhaps more importantly, of the 16% of adult users, half admitted to using Twitter for news. Narrowing this down even further, close to half, or 45%, of Twitter news consumers were under 30, which implies that roughly 4% of American adults use Twitter as something more than just a place to vent occasionally, and actually have a productive use for the service. So in attempting to reconcile the two vastly differing sets of numbers: one from the company and one from Pew, one wonders: is Twitter merely the latest platform for "socializing" teens who unfortunately for Twitter's advertisers (who between Google, Facebook, Pinterest, Yahoo and so on, seem to have infinite advertising budgets) don't have access to a credit card? And what happens when, just like FaceBook, Twitter's coolness factor disappears and only the hardcore, and quite paltry, news users remain?
“It is no coincidence that the century of total war coincided with the century of central banking.” --Ron Paul
Instead of using inflation statistics as a political ploy to raise taxes and artificially cut spending, the President and Congress should use a measurement that actually captures the eroding standard of living caused by the Federal Reserve’s inflationary policies. Changing government statistics to exploit the decline in the American way of life and benefit big spending politicians and their cronies in the big banks does nothing but harm the American people.
Speaking, ironically, at the Economic Club of Detroit in 1988, Ron Paul warns oh-so-prophetically of a coming economic crisis and the profound implications of the government's fiscal and monetary program largesse.
October was Iraq’s deadliest month since April, 2008. In those five and a half years, not only has there been no improvement in Iraq’s security situation, but things have gotten much worse. As post-“liberation” Iraq spirals steadily downward, Prime Minister Nuri al-Maliki was in Washington last week to plead for more assistance from the United States to help restore order to a society demolished by the 2003 US invasion. Obama pledged to work together with Iraq to address al-Qaeda’s growing presence, but what was not said was that before the US attack there was no al-Qaeda in Iraq.