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Due to the recent economic crisis, stock market crash,budget cuts, rising unemployment, unstable world conditions,the cost of insurance, electricity, petroleum and taxes of all kinds, we regret to advise you that the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.
Obama is basically arguing that tax cuts are neither necessary nor fair. This flies in the face of history and sound economic principles. Unfortunately for Americans Obama is shockingly ignorant of both subjects. Regrettably America's so-called mainstream media are so corrupt that they will not allow the consequences of his
primitive economics to be widely discussed. I fear Americans will have to wait until the inescapable outcome of his anti-market prejudices make it impossible to ignore the damage being done to the US economy.
The Obama administration thinks a little regulatory tinkering will take Wall Street back to its glory days of fraudulent finance.
HEIST: The Looting of America
THIEVES pretending to be capitalist (Audio-mp3)
U.S. Government, in partnership with JPMorgan Chase, intentionally cheated silver investors worldwide of many billions of dollars
But lets get real: In the real world, we have too many "adults" that are one or more of the following: Ignorant, deluded, obnoxious, spoiled, bratty, and finally just plain stupid.
A world full of idiots who's sole desire is the competition for wealth and increased standards of living that makes life on earth miserable.
Money and the private concentration of the means of production has enabled the rich to become defacto rulers of peoples, governments and nations. If history teaches us anything, is that money is a power above the law of any nation, the whole of america's birth was based on getting away from the "Tyranny" of financial burdens placed upon them by their 'mother country'.
Let us not forget the american civil war was about politics and economics.
WARNING: In 1929, derivatives were virtually nonexistent. Not today! U.S. banks alone control $200.4 trillion; and it's precisely in this dangerous sector that the megabanks dominate the most.
According to the OCC's Q4 2008 report, America's top five commercial banks control 96 percent of the industry's total derivatives, while the top 25 control 99.78 percent. In other words, for every $100 dollar of derivatives, the big banks have $99.78 ... while the rest of the nation's 7,000-plus banking institutions control a meager 22 cents! --- This is a massively dangerous concentration of risk.
Real Eyes Hint: MALLS: Grandioso farmer's markets - barter hubs - self serve FREE kitchens - Health for everyone paradises - Adversity begets ingenuity
Comments: "Unfortunately, Paul is correct and Obama - relying the twin snakes of Geithner and Summers are effecting exactly what Joseph Stiglitz has written: "The Geithner plan amounts to robbery of the American people" .
While I voted for Barak, I have lost hope after just how many days? of bad decisions that will affect the United States for a long, long time.
He has been co-opted by those around him and he is now
- a war criminal ( Just like George the lesser )
- a robber of the Treasury ( Just like George the lesser ) [ one might ask about the 2 Trillion dollars that has been stolen on Obama' s watch]
- a seller of the 'New World Order' which is nothing more than fascism. ( Just like George ...)
- a smooth talking "Applause line" lying sham.
His report card: F
Krugman: The Market Wizards Were Exposed as Frauds -- Too Bad Obama's Team Still Believes in Their Magic
TELLING THE TRUTH TO THE AMERICAN PEOPLE (Audio-mp3)
This is the interview which is reported to have gotten Dylan Ratigan
(Fast Money host) "fired" from CNBC:
The Financial Stability Plan – Progress?? So Far:
26 MARCH 2009: - Expect the Dow to rise to just over 10,000 in the months ahead.
Along with it, the dollar will tumble sharply, gold will likely zoom to new highs, oil will take off to the upside, and virtually all natural resources will start re-inflating.
Don't expect the economy to improve though. It'll stay stuck in the doldrums, to say the least.
the economy does not have to recover to get huge rallies in many markets ...
The reason: When a currency is deliberately devalued, as the dollar is experiencing now, asset prices must adjust upwards to reflect the loss of purchasing power in that currency.
And this is what happens when you have floating, paper currency systems
When a floating paper currency is deliberately devalued, asset prices must adjust upwards to reflect the loss of purchasing power in the currency.
It's amazing how few understand it — even though it's happened in virtually every 'third world' country over the past few decades.
The big difference now: It's happening in the 'first world' today, to the world's biggest country with the world's biggest economy. The U.S.A.
March 24 2009:China proposes doing the U.S. a huge favor by replacing the dollar
The Bush/Obama approach to the crisis in the financial sector is to monetize existing debt and to accumulate massive new debt that will likely also require monetization. The monetization threatens inflation, high interest rates, and depreciation of the US dollar and loss of its reserve currency role. The accumulation of new public debt implies larger annual interest payments that could make future deficit reduction problematic. Clearly, the Obama administration needs to broaden its perception of the predicament to which financial deregulation and offshoring have brought the US economy.
Pyramid of Capitalist System
What would happen to capitalism if the workers simply withdrew their support?
The Pyramid of Capitalist System is a provocative illustration of the hierarchical system of capitalist rule in America. In this beautifully colored portrait, the artist depicts the multiple tiers of working class oppression. At the top of the pyramid sits the state, which serves the interests of the ruling class and functions under capitalism as the protector of private wealth and property. Below the state stand the religious leaders, clergymen, and preachers of false consciousness who encourage obedience to and acceptance of the status quo, entreating the working masses to accept their ordained fate and seek their just rewards not on earth but in that glorious hereafter. If obedience cannot be encouraged it will surely be enforced by the members of the next tier. As events in Homestead and Pullman clearly testified, the police and militia had as their objective not the protection of "the people," but rather the protection of capital from "the people." Beneath the military sit the parasite class, the bourgeoisie, who exploit the toilers of the world and profit by their labor power. Beneath it all, bearing the weight of the entire system, are the workers who produce all things fundamental to the perpetuation of life and the continuation of this system. Thus, in addition to illustrating the multi-layered oppression and exploitation of workers, this image also begs the question, "what would happen to capitalism if the workers simply withdrew their support?"
Ten principles that can reduce U.S. tendencies toward militarism:
Pay attention to the nation's founders,
Bolster the separation of powers,
Treat the use of armed force solely as a last resort,
Strengthen U.S. self-sufficiency,
Emphasize national defense,
Control defense spending,
Use more soft power,
Use the National Guard and reserves properly,
Improve U.S. civil-military relations.
Were the United States to pursue these goals, including greater reliance on civilian education for U.S. military officers, Americans would benefit from the demilitarization of U.S. policy and the U.S. role in world affairs. These recommendations are sound. If implemented, they would reduce militarism sharply within U.S. society and in U.S. policymaking and help to stop the policy shift toward the maintenance of a de facto empire.
- Ron Paul - Recapturing Spirit of Independence
- Crime Corruption and Collapse on Wall Street
- MONEY BLACK HOLE
- Decline of Empires : Signs of Decay
- What does Christianity, 911 and The Federal Reserve all have in common?
- War Profit Blood Poverty for Amerikkka
- Warning Bank Safe Deposit Box
- Fake Terror Masters
- Greed Garbage Bonds Bonfires
- Creating America's Pathology
- Net Worth And Personal Savings
- The End of Capitalism
Who Was Ponzi?
In 1918, Charles Ponzi arrived in Boston as a newlywed, ex-convict with an eye for get-rich quick schemes. He spotted an arbitrage opportunity where it was possible to buy International Reply Coupons in Europe and exchange them in the US for stamps worth more than he had originally paid. Once he sold the stamps, he claimed that it was possible to make profits exceeding 400%.
The first group of friends and investors were paid exactly as promised making a 50% profit within 45 days of their original investment. As word spread among the wealthier citizens of Boston they began lining up to invest. Within months, Ponzi was a millionaire taking in money faster than he could possibly have turned his scheme around legitimately.
At one point it was noted that in order for Ponzi’s company to cover all the current investment, it would have to have bought over 160 million International Reply Coupons when the reality was there were only ever around 27,000 of these coupons in circulation.
Today Ponzi’s name is used to describe any fraudulent investment scheme where the money from later investors is used to pay the early investors and so on right up until the moment when the whole thing collapses in on itself.
As the dust settles after Bernard Madoff’s multi-billion dollar Ponzi scheme collapsed in late 2008, the lesson remain the same as it was in the 1920s. If it looks too good to be true, it probably is.
What’s the highest rate of return for an investment you could be offered before you would get suspicious?
Notes: This is a Committee Hearing for HB639 Montana's Sound Money Bill. This bill would allow for a gold and digital gold based currency to compete against the FRN (Federal Reserve Note) dollar. This gold based system would be completely voluntary for citizens and would only survive if Montanan's choose to use it.
Rep. Bob Wagner submitted the bill on 3-12-09. Member's of the Montana Campaign for Liberty, Constitution Party of Montana, and ordinary patriotic Montanan's came to testify for the bill. In this video you will hear testimony from world renowned economic/monetary experts Edwin Vieira, Lawrence Parks and James Turk. G. Edward Griffin was scheduled to testify but the allotted time for testimony expired.
These experts and Rep Wagner explained to the committee the need to shift away from the FRN and into a sound money system. Financial collapse's of various countries was explained.
The fallacies of fractional reserve banking was shown, and how the system robs the inherent wealth of the American citizens. A possible, and likely economic collapse of the FRN was also explained.
NOTE: IN THE VIDEO THE TEXT SHOULD READ HB639.
The Norwegian Krone
The article, "Why the Norwegian Krone Is the World's Safest Currency." Written by Adam Smith, draws heavily on research done by HSBC. The main reasons given by HSBC are well known to Pfennig readers. "Norway's budget and current-account surpluses are the biggest among nations with the 10 most traded currencies. Factor in the country's $350 billion sovereign wealth fund pumped full of the country's oil revenues, and the cost of insuring against government default in Norway - a key measure of a currency's safety - is the lowest of those countries" writes Smith.
According to the article, the series of interest rate cuts over the past several months have started to work. This "makes it unlikely Norway's central bank will need to revert to quantitative easing, the modern day equivalent of printing money that's currently in fashion from the US to the UK." According to HSBC, "the Norwegian krone is probably the best currency in the world."
Read the full article
GOLD ETF an Inflation Hound
Gold stocks rise when investors bid up "real assets" that retain value when governments abuse the paper-money system... when the currencies folks use to plan financial decisions are debased and distorted. That's why we call the gold stock ETF an inflation hound...
You can think of the market as an old man sitting on his porch with a few grizzled hound dogs at his side. This old-timer has seen a lot. Back in the '70s, he saw his neighborhood get robbed blind by a high-tax, high-spend government and its silent accomplice, inflation. That accomplice is silent, but he sure does stink. And when he gets close to the property, the hounds start barking. They can smell him from a hundred yards.
So... how long will it take for the government's crazy back-to-the-'70s plan of massive social spending, costly wars, and immoral money-printing to cause significant inflation? We're guessing it will be at least a year or two. But we'll defer to old man market and his hounds on this one. One of his hounds just reached a new six-month high... and a move above $50 means it smells inflation...
The quote below says it all.
"Price discovery of silver is controlled by the massive over-supply of paper substitutes for silver and NOT by the supply and demand of physical silver. This can continue only as long as there is no shortage in the physical market that exposes the obvious fraud. The backwardation is indicating that the day of reckoning is coming where Samsung will have to find a way to make cell phone batteries out of Paper-Mache! Time is running out for the CFTC to solve this crime before it becomes obvious to everyone."
...................deflation will deepen until all debts have been liquidated through bankruptcy. This is the only possible outcome if fiscal and monetary nostrums continue to dribble out a "mere" trillion dollars at a time. This is nickel-and-dime stuff compared to the asset deflation occurring throughout the world.
But if the slow, deflationary death this approach produces proves too painful economically and politically, then hyperinflation will at some point be employed, even if it destroys creditors and savers for a generation in the process.
......As you can guess, I don’t share that vision. I don’t think this is just a financial panic; I believe that it represents the failure of a whole model of banking, of an overgrown financial sector that did more harm than good. I don’t think the Obama administration can bring securitization back to life, and I don’t believe it should try. ---KRUGMAN