MONEY: Third Anniversary of Conviction & Still No Action

Sunday, April 13, 2014

Closing Remarks:
As another year grinds past, thank you for your forced patience to recover your wrongfully seized property. I wish there was some action to take, but waiting is our only option. Many thanks for your continued support. For it is only by banding together and adopting a free and independent currency that provides us with “just weights and measures” that we will be able to throw off the yoke of a manipulated monetary/tax system and generate a peaceful and prosperous society.

Thank you again for all your efforts to return America to value – one dollar at a time!

Bernard von NotHaus
Monetary Architect/Editor
Editor@LibertyDollar.org

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Don’t mess with the powers that be!

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MONEY: Gold and silver?

Thursday, March 27, 2014

SEC Set to Alter Stance on Money Funds
U.S. securities regulators are preparing to exempt a majority of money-market mutual funds from a central plank of rules intended to curb risks in the $2.6 trillion market, according to people familiar with the agency’s discussions.

The Securities and Exchange Commission is expected to broaden an exemption for mom-and-pop retail investors from requirements that certain money funds abandon their signature $1 share price and float in value like other mutual funds. Supporters of a floating share price argue it would train investors to accept slight fluctuations in the value of their shares and so not panic if they fall below the $1 price.

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What it trains investors is to think about the underlying counter party risk.

Any one want gold and silver? (Like the Chinese?)

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MONEY: WalMart as the “bank” for the poor

Monday, March 3, 2014

http://www.oftwominds.com/blogfeb14/banks-obsolete2-14.html

Banks Are Obsolete: The Entire Parasitic Sector Can Be Eliminated (February 20, 2014)
What else can we do with the $1.25 trillion we’ll save by eliminating these obsolete financial middleman parasites? A lot.

*** begin quote ***

The entire notion that 100 savers put their money in a bank which then buys a mortgage with their savings and sells it as a security that supports a pyramid of derivatives is obsolete. Each saver can directly own (and sell on a transparent market) a piece of a mortgage, auto loan, business loan, etc. There is no need for a middleman banking sector at all–no skim, no concentration of risk, no opportunities for selling derivatives to unwary investors. All that goes away with the banking sector.

But what about holding deposits? We already have two institutions that could serve this role: credit unions and the post office. If those holding depositors’ cash do not issue loans, they have no source of income to defray operating expenses. The solution is obvious: charge fees for holding deposits and payor-payee transactions.

*** end quote ***

And what about WalMart as the “bank” for the poor and middle class?

I see the politicians and bureaucrats whine about Payday Loans and Title Loans.

WalMart could be a great “bank” for the little guy!

Argh!

The Sheeple are so dumb and the Gooferment enables them!

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MONEY: The FED is clueless when it counts

Friday, February 28, 2014

Fed’s 2008 Transcripts Show Struggle to Grasp Magnitude of Crisis
Two days after U.S. officials decided to let Lehman Brothers collapse in September 2008, and just before the Federal Reserve was about to unleash a torrent of new support programs to bolster a crumbling financial system, central-bank officials were still struggling to grasp the magnitude of the calamity that had hit the U.S. economy.

“I think that our policy is looking actually pretty good,” Fed Chairman Ben Bernanke said of the level of interest rates at a closed-door Fed policy meeting on Sept. 16, 2008, according to transcripts of its policy meetings that were released Friday with the traditional five-year lag.

By year-end the Fed had cut interest rates to zero, announced plans to start buying private mortgage-backed securities, and set up programs to prop up money-market funds and the commercial-paper market and individual banks such as Citigroup.

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So why do we allow the banking cartel to run the nation’s money?

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MONEY: A “delaying action” to keep the Ponzi scheme going

Monday, February 17, 2014

http://www.deviantinvestor.com/5492/17-questions-that-deserve-answers/

17 Questions That Deserve Answers
Posted by Deviant Investor on February 11th, 2014

*** begin quote ***

The U.S. believes in paper dollars and an unbacked debt based currency. Such currency can be created with little more than a few keystrokes on a Federal Reserve computer. Would the Fed and the U.S. government sell gold into the world market to slow the inevitable weakening of the U.S. dollar? Would the Fed and the U.S. government ship (via intermediaries) substantial quantities of gold to China to prevent dumping of T-bonds and dollars? Are gold sales a “delaying action” to extend the reserve currency status of the U.S. dollar?

*** end quote ***

Certainly, you can not trust the bankers, crony capitalists, politicians, and bureaucrats!

So what should we put out trust in?

Bullets, bandaids, and beans. 

When you have all those — nickels, silver, and gold!

My favorite test what posted in 2009.

http://reinkefaceslife.com/2009/10/09/money-pirates-chest/

And the answer is still the same — gold is better than anything else.

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MONEY: Fig Leaf for retirees

Tuesday, February 4, 2014

http://license.icopyright.net/user/viewFreeUse.act?fuid=MTc4Mzk0OTA=

Social Security Trust Fund: Fig Leaf For New Retirees
By JED GRAHAM
INVESTOR’S BUSINESS DAILY

*** begin quote ***

Those who live to the average life expectancy, now past 84 for new retirees, will outlive the trust fund by more than four years, according to Congressional Budget Office projections.

At that point, Social Security could pay only about 75% of benefits, resulting in a 25% across-the-board cut to annual benefits if Congress doesn’t act.

*** end quote ***

And when something bad happens, who do we hold accountable?

Gooferment, politicians, and bureaucrats long gone!

The little guy gets the weenie.

Again.

I am more cynical that the article. I think it could happen to everyone. Me included.

I’ll be too old to do anything about it. And, part of a declining minority with no clout.

Have to get to a better state.

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MONEY: Nickels are “poor man’s gold”

Wednesday, January 29, 2014

http://www.lewrockwell.com/2014/01/robert-wenzel/machinations-at-the-mint/

Price Inflation Will Force the US Mint to Once Again Change the Metal Content of Coins
By Robert Wenzel
Economic Policy Journal

*** begin quote ***

The Mint is considering a change to the mix of metals it uses to make quarters, dimes and nickels, because of the climbing cost of production of the coins. reports WSJ.

It now costs 1.8 cents to make a penny and 9.4 cents to make a nickel, costing the federal government about $104.5 million last year.

*** and ***

I fully expect that in the next bout of accelerating price inflation that the value of the metal content of current nickels will soar. Thus, nickels are a great no downside investment. If the price inflation I anticipate doesn’t develop, just spend the nickels. For more on nickels as an investment see: Why You Need to Own Nickels, Right Now

http://www.economicpolicyjournal.com/2011/02/why-you-need-to-own-nickels-right-now.html

*** end quote ***

Nickels are “poor man’s gold”.

Argh!

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MONEY: Target

Saturday, January 18, 2014

Dear Target Guest,
As you may have heard or read, Target learned in mid-December that criminals forced their way into our systems and took guest information, including debit and credit card data. Late last week, as part of our ongoing investigation, we learned that additional information, including name, mailing address, phone number or email address, was also taken. I am writing to make you aware that your name, mailing address, phone number or email address may have been taken during the intrusion.
I am truly sorry this incident occurred and sincerely regret any inconvenience it may cause you. Because we value you as a guest and your trust is important to us, Target is offering one year of free credit monitoring to all Target guests who shopped in U.S. stores, through Experian’s® ProtectMyID® product which includes identity theft insurance where available. To receive your unique activation code for this service, please go to creditmonitoring.target.com and register before April 23, 2014. Activation codes must be redeemed by April 30, 2014.
In addition, to guard against possible scams, always be cautious about sharing personal information, such as Social Security numbers, passwords, user IDs and financial account information. Here are some tips that will help protect you:
Never share information with anyone over the phone, email or text, even if they claim to be someone you know or do business with. Instead, ask for a call-back number.
Delete texts immediately from numbers or names you don’t recognize.
Be wary of emails that ask for money or send you to suspicious websites. Don’t click links within emails you don’t recognize.
Target’s email communication regarding this incident will never ask you to provide personal or sensitive information.
Thank you for your patience and loyalty to Target. You can find additional information and FAQs about this incident at our Target.com/databreach website. If you have further questions, you may call us at 866-852-8680.
Gregg Steinhafel
Chairman, President and CEO

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Argh!

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MONEY: A negative on bitcoin

Saturday, January 18, 2014

http://dont-tread-on.me/?p=31861

26 Reasons Why I Will Never Support Bitcoin
By Silver Shield, on December 21st, 2013

*** begin quote ***

20. Then there is that anti government aspect of it.  Really? It seems the Anglo American bankers love it, including Ben Bernanke and JP Morgan.  It is right up their alley with something for nothing.  They may crack down on Bitcoin only to launch their own brand.  Look at the Lotto.  They went after the mob for running numbers, but then made it legal for them to profit off of.  They went after Charles Ponzi and then created their own Ponzi Scheme with Social Security.  I am telling you Bitcoin or something just like Bitcoin will be used to sell to the people after the dollar collapse, a new electronic worthless currency.  Who knows maybe we will get bonus points for watching TV and using it?  They already have millions hooked on EBT cards, get the corporations involved and the government muscle and you could see the final realization of a digital currency where they can cut you off if you get out of line.  How many stories do we already hear about bank bailins and IRS and NSA messing with people’s bank accounts.  Having real wealth outside of the system is the only antidote for that.

*** end quote ***

It’s the “intrinsic value” argument that hits me hardest.

In POW camps of WW2, cigarettes were “money”.

Gold and silver have the advantage of “intrinsic value”. Junk silver, (i.e., pre-1964 US coins), will be the money of TEOTWAWKI (The End Of The World As We Know It)!

The survivalist community plans to use ammo as money. As well as commodities, like liquor, can be barter fodder. 

Remember barter will precede “money”.

So, save wealth in forms that are not paper!

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MONEY: Send me bitcoins if you don’t know what else to do with them

Thursday, January 16, 2014

Bitcoin qr code

laff!

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MONEY: Another business takes bitcoins

Wednesday, January 15, 2014

http://www.huffingtonpost.com/2014/01/08/bitcoins-lemonade-stand_n_4563348.html?ncid=txtlnkusaolp00000540

These Girls Accept Bitcoins At Their Lemonade Stand
Posted: 01/08/2014 3:46 pm EST | Updated: 01/09/2014 11:44 am EST

*** begin quote ***

Bitcoins have been everywhere in the news lately. Their value crashed, it crashed again, yet more and more businesses are accepting them. One particular business has really caught the Internet’s attention: a lemonade stand run by two adorable girls in San Francisco.

*** end quote ***

Inevitable?

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MONEY: Bitcoins goes mainstream as a fiat alternative

Tuesday, January 14, 2014

http://cashintocoins.com/index.php

cash into coins
faq and support

*** begin quote ***

Q. How do I know if this is safe?

A. Every new business faces trust issues when developing relations with first time customers. However, doing business with CashIntoCoins is incredibly safe. We are required by law to provide several forms of identification, when starting my business, opening new bank accounts, and sending and receiving money. To top it off, you get a cash receipt, from a FDIC insured bank, with lots of cameras and paperwork that link your cash to this busines specifically.

*** end quote ***

Bitcoins appears to be the real deal.

It certainly is a challenge to fiat currencies.

Orginially popular for SILKROAD and the drug culture, it’s now moved into the mainstream.

Overstock Dot Com has just legitimized it.

Now in addition to gold, silver, and nickels, you can save and diversify into bitcoins.

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MONEY: Target and a dead account

Thursday, December 26, 2013

Dear REDcard holder,
Thank you for your patience with Target as we work through the breach of certain credit and debit card information at U.S. Target stores between Nov. 27 and Dec. 15, 2013. Due to high volumes to our call centers, we want to make sure that you have some key information.
We want you to know a few important things:
You do not need to call us unless you found charges on your account that you didn’t make.
You will not be held liable for any fraudulent charges.
We have made changes to our REDcard fraud detection and authorization procedures to further protect you.
We are offering free credit monitoring for one year to every single person who was impacted by this crime. We will give you more information about that soon.
If you have concerns and would like to check your account online, visit Target.com/REDcard.
For additional questions, check Frequently Answered Questions on Target’s corporate website.
We hope these resources help with your immediate needs. If you still feel you need to speak with someone by phone, you may call 866-852-8680.
Thank you for your continued support of Target.

Scott Kennedy, President, Financial Retail Services, Target

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Forgot I had that. But it’s on a dead account. Good luck hackers.

# – # – # – # – #  2013-Dec-26 @ 14:22  


MONEY: Public Defined Benefits Pension Plans are a disaster

Tuesday, December 3, 2013

http://unionwatch.org/how-unions-and-bankers-work-together-to-protect-unsustainable-defined-benefits

How Unions and Bankers Work Together to Protect Unsustainable Defined Benefits
by ED RING on NOVEMBER 26, 2013

*** begin quote ***

Greed is compounded with corruption and delusion, when in response for calls to bring public sector pensions into line with what is affordable and fair, unions and pension bankers claim 7.5% annual rates of return can be sustained forever. Their first mistake is suggesting that 7.5% rates of return is all they need. Current levels of underfunding mean either annual contributions go way up, or returns have to greatly exceed 7.5%. For example, CalSTRS is 67% funded, and to avoid becoming more underfunded, they must either earn 11.2% per year, or they must make a supplemental “unfunded contribution” of $4.1 billion per year – last year their unfunded contribution was only $1.1 billion. We are at the top of another bull market and in the terminal phases of a long-term credit cycle – anyone want to bet that CalSTRS is going to earn 11.2% a year for the next 30 years?

*** end quote ***

If the private sector is abandoning them, what is the justification for the public sector?

And, please don’t tell me that the public sector earns less.

If the do happen to earn less, then that represents their “job security” premium.

However, most earn more than they could command in the private marketplace.

And, let’s not overlook the abuses: revolving door between regulator and regulated, “lobbying”, and (my particular favorites) “double dipping” / “part time pensions” / “multiple pensions”.

Time to move on!

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MONEY: Inflation – a tax on capital

Friday, November 1, 2013

http://www.nytimes.com/2013/10/27/business/economy/in-fed-and-out-many-now-think-inflation-helps.html?_r=0

In Fed and Out, Many Now Think Inflation Helps
By BINYAMIN APPELBAUM
Published: October 26, 2013

*** begin quote ***

WASHINGTON — Inflation is widely reviled as a kind of tax on modern life, but as Federal Reserve policy makers prepare to meet this week, there is growing concern inside and outside the Fed that inflation is not rising fast enough.

Some economists say more inflation is just what the American economy needs to escape from a half-decade of sluggish growth and high unemployment.

The Fed has worked for decades to suppress inflation, but economists, including Janet Yellen, President Obama’s nominee to lead the Fed starting next year, have long argued that a little inflation is particularly valuable when the economy is weak. Rising prices help companies increase profits; rising wages help borrowers repay debts. Inflation also encourages people and businesses to borrow money and spend it more quickly.

*** end quote ***

Excuse me, are reporter that deceitful — it’s a tax on capital; not modern life.

Excuse me, are ecknominists that obtuse? They know that inflation is theft.

Excuse me, are The Sheeple that stupid? Guess they are!

So anyone, who is on a fixed income, poor, or certificates of depreciation, loses purchasing power?

Put more air in an already inflated balloon.

Why? 

To fool people into spending more!

Argh!

Consumer prices will go up and the poor will be left behind.

Stable commodity based money is a benefit to society. Those on fixed incomes and the poor benefit from stability.

Save your nickels!

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MONEY: Serious diversification

Thursday, October 24, 2013

http://www.lewrockwell.com/2013/10/robert-wenzel/get-your-money-out-of-the-banks-3/

IT IS TIME: Move Your Money Out of the US Banking System
By Robert Wenzel
Economic Policy Journal
October 19, 2013

*** begin quote ***

It is time for serious diversification. Depending upon the size of your assets, there are different things that should be done. But almost everyone should have some cash and gold coins stored outside the banking system. Those with significant assets should begin international diversification now, while it is still possible. I don’t consider any country completely safe from the clutches of the US government so international diversification, among many countries, is also called for: Switzerland and Hong Kong for starters, but also other countries that are not known as tax havens, the USG has their claws into these countries, be creative.

*** end quote ***

Time to store: water, beans, bullets, and bandaids … … not necessarily in that order.

Followed by bullion — nickels, silver, and gold.

Note: Not paper!

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MONEY: The political counter-party risk in Social Security

Wednesday, May 8, 2013

http://www.obliviousinvestor.com/the-political-risk-of-delaying-social-security-until-70/

The Political Risk of Delaying Social Security Until 70
via Oblivious Investor by Mike on 5/6/13

*** begin quote ***

Some people argue that holding off on claiming Social Security is akin to betting that there won’t be any rule changes. I don’t think that’s true. While certain Social Security reforms would make it advantageous to claim earlier, other reforms wouldn’t change the decision at all, and others could actually make it more advantageous to delay claiming benefits.

The five potential Social Security reforms that I see suggested most often are:

Increasing or eliminating the payroll tax cap,
Increasing the payroll tax rate,
Increasing the full retirement age,
Means testing benefits in some way, and
Switching from regular CPI to chained CPI for calculating cost of living adjustments.

*** end quote ***

One would hope that once you begin to collect that “they” won’t change the rules ex post facto.

We now that they can and do (i.e., the taxability of benefits).

But the Sheeple and Clover let them get away with it.

Argh!

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MONEY: Anemic US growth

Sunday, April 28, 2013

U.S. Economy Grew at 2.5% Rate in 1st Quarter
The U.S. economy failed to gather as much steam as expected in the first quarter. Gross domestic product advanced at a 2.5% annual rate between January and March, less than the 3.2% expansion expected by economists. Still, the GDP gain was stronger than the 0.4% growth in the prior quarter.

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With all the “stimulus”, QE, and all the other manipulation, this is a joke!

We borrow money from China to spend on stuff we don’t need and Gooferment programs.

Absurd!

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MONEY: Tax deferred maybe a trap!

Tuesday, April 16, 2013

http://online.wsj.com/article/SB10001424127887324050304578412932073225110.html?mod=WSJ_hp_mostpop_read

*** begin quote ***

That’s the message in President Obama’s budget for fiscal 2014, which for the first time proposes to cap the amount Americans can save in these tax-sheltered investment vehicles. The White House explanation is that some people have accumulated “substantially more than is needed to fund reasonable levels of retirement saving.” So Mr. Obama proposes to “limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million for someone retiring in 2013.” 

*** end quote ***

Interesting. 

When the big IRA / 401k accounts are thought about logically, are they not converting “capital gains” into “ordinary income”?

Would they be better off making investments in taxable accounts?

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MONEY: Savings in bullion for education and retirement

Friday, April 5, 2013

http://www.silver-coin-investor.com/Storing-Silver-for-the-Next-Generation.html

Avoiding the Student Loan Bubble With Silver

Obviously, the growing costs associated with education — as evidenced by the trillion dollar student loan bubble with an unprecedented and growing 17% default rate — seems unsustainable to say the least.

A seemingly meager investment in silver made at today’s prices could eventually prevent your childrenfrom having to rely on student loan debt where they would end up owing a large amount of money by the time they graduate. This logic might even impress those investors who are not otherwise predisposed to understanding or otherwise caring about the white metal.

For example, making just a $30,000 investment in silver today for your children’s education will most likely grow in value many times over a holding period of 15 years. Silver’s future appreciation will very likely outpaceboth the consumer price inflation index, and will probably even exceed the higher rate of inflation in college education, which is currently running at ridiculous levels.

Furthermore, if your child ultimately decides not to go to college, or gets a scholarship to fund their studies instead, your prudent investment in silver will provide quite a nest egg to help them start out in life, buy their first home, etc.

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Interesting. I wonder if non-IRA/401k savers will use the bullion round to fund their future retirement. 

When I look at the cost of living as denominated in silver and gold, the monetary inflation is wrung out.

Perhaps, that’s what savers should be doing. 

By holding the bullion, you eliminate inflation, counterparty, “Cyprus” / custodian, Gooferment, and rate of return risk. 

Rate of return risk is an interesting concept. When using dollar denominated savings, one calculates the rate of return. But it doesn’t include the “inflation” rate. Savings today have a small nominal interest rate and an undetermined inflation rate. The Gooferment claims it is zero. It doesn’t feel that it’s zero.

So if I “save” in ounces of silver, then I know my rate of return is zero. But, the good part is that I can’t lose ground.

Money is no longer a reliable “unit of account” or “store of value”. Bullion is the “new money”.

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MONEY: Pensions in the bulls eye

Sunday, March 31, 2013

http://www.wnd.com/2013/03/poverty-hits-the-suburbs/

WND EXCLUSIVE
Poverty hits the suburbs
Disturbing stats show dangers overlooked as Wall Street bulls run wild

*** begin quote ***

He calls “the great 401k experiment of the past 30 years” a “disaster,” and says the actual average 401(k) balance for 65 year olds is closer to $25,000 than the $100,000 claimed by the retirement industry. Siedle predicts, “a catastrophic outcome for at least a significant percentage of our elderly population is inevitable.”

He is just as pessimistic about pensions, warning, “Americans today are aware that corporate pensions have been virtually eliminated and that the few remaining private, as well as the nation’s public pensions, are in jeopardy. Even if you are among the lucky few that have a pension, you cannot rest assured that it will be there for all the years you’ll need it. Whether you know it or not, someone is busy trying to figure how to screw you out of your pension.”

*** end quote ***

Obviously, the individual will have to save for themselves.

And, it’s in things that will retain value.

Not numbers on a bank statement.

Productive assets.

Bullion.

Bullets, bandaids, beans!

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MONEY: TAX ON YOUR BANK

Sunday, March 24, 2013

http://www.theblaze.com/stories/2013/03/16/eurozone-country-surprise-were-putting-at-least-a-6-75-tax-on-your-bank-account/

BUSINESS
EUROZONE COUNTRY: SURPRISE! WE’RE PUTTING AT LEAST A 6.75% TAX ON YOUR BANK DEPOSITS
Mar. 16, 2013 10:12pm Erica Ritz

*** begin quote ***

Congratulations Cyprus savers – you were just betrayed by both your politicians, and by Europe – sorry, but you are the “creeping impairments” in the game known as European bankruptcy. And so is anywhere between 6.75% and 9.9% of your money, which you were foolish enough to keep with your banks (where at least you were compensated with a savings yield of… 0%).

More importantly, as of this morning Europe has finally grasped that there is a 6.75% to 9.9% premium to holding physical cash in your mattress rather than having it stored with your local friendly insolvent bank.

Luckily Cyrpus is so “small” what just happened there will never happen anywhere else: after all in Europe nobody has ever heard of “setting an example“. Or so the thinking among Europe’s unthinking political elite goes…

*** end quote ***

So, how do you, the average Sheeple, protect yourself?

Don’t think that this will go unnoticed around the world!

My concern is not so much a tax on “savings”; my concern is a seizure of IRA/401ks.

Figure there are only about 3k financial institutions that are “custodians”. All regulated up the wazoo by the District of Corruption. 

Every so often, “trial balloons” get floated about the Gooferment taking those in exchange for an “enhanced Social Security benefit”.

So my gold and silver bullion or nickels strategy don’t look so bad now!

Sometimes capital preservation is more important than investment gain lost!

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MONEY: 12 Cognitive Biases That Endanger Investors

Tuesday, March 19, 2013

Good thing I have a team. Otherwise, I’d be sitting, guarding my “pirate’s chest” of gold coins. I don’t know what bias being a Gold Bug is, but I have it bad. The thieves in DC are robbing us poor folk blind. And, what’s worse, folks are clueless. Argh!

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12 Cognitive Biases That Endanger Investors: “

Before Todd Harrison created Minyanville, he was an options trader at Morgan Stanley, eventually becoming President of Cramer Berkowitz, where he toiled as head trader at Jim Cramer’s hedge fund.

Todd has an excellent analysis of the various biases that endanger investors.

Here is the full list:

1. Confirmation Bias
2. In-Group Bias
3. Gambler’s Fallacy
4. Post-Purchase Rationalization
5. Neglecting Probability
6. Observational Selection Bias
7. Status-Quo Bias
8. Negativity Bias
9. Bandwagon Effect
10. Projection Bias
11. The Current Moment Bias
12. Anchoring Effect

Check out his explanation and descriptions here.

 

 

Source:
12 Cognitive Biases That Endanger Investors
Todd Harrison
Minyanville January 17, 2013
http://www.minyanville.com/special-features/random-thoughts/articles/12-Cognitive-Biases-that-Endanger-Investors/1/17/2013/id/47441

(Via The Big Picture.)

 

–30–


MONEY: This economy, and lack of political fiscal discipline, is hardest on the poor

Sunday, February 24, 2013

http://www.csmonitor.com/Business/2013/0222/Why-is-Wal-Mart-worried-Payroll-tax-could-cut-consumer-spending.-video?nav=87-frontpage-entryLeadStory

Why is Wal-Mart worried? Payroll tax could cut consumer spending. (+video)
Recent reports forecast lower spending for this year, anticipating that the restored payroll tax will impact consumers’ wallets, especially low-income earners. Wal-Mart is adjusting its strategy.

By Husna Haq, Correspondent / February 22, 2013

*** begin quote ***

“It’s a big deal,” says Morgan Housley, a macroeconomic analyst with Motley Fool, an online financial education website. “The biggest impact is on lower-income households since the payroll tax is regressive, only applying to the first $113,000 of income. Wealthier households don’t feel the same pinch because the tax doesn’t hit all of their income. Lower-income households also spend a larger share of their income than wealthier consumers.… Low-income families are in one of the toughest spots they’ve been in since 2009.”

*** end quote ***

Anyone believe a less that 2% cpi?

Not me!

# – # – # – # – #   

Why is Wal-Mart worried? Payroll tax could cut consumer spending. (+video)Recent reports forecast lower spending for this year, anticipating that the restored payroll tax will impact consumers’ wallets, especially low-income earners. Wal-Mart is adjusting its strategy.

By Husna Haq, Correspondent / February 22, 2013


MONEY: Default is unavoildable

Tuesday, February 19, 2013

http://lewrockwell.com/north/north1264.html

—  begin quote —

Will the federal government default? Yes. Will investors learn their lesson? Not for long. But for a time, yes.

Here is the lesson: Do not trust a politician who says America cannot, must not, and will not default.

Here is the rule: “Never believe a rumor until it is officially denied by the government.”

Obama has officially denied it.

It’s coming.

— end quote —

Regardless of how you define “default”, what the FED is doing in buying debt with more paper, is de facto default.

So what the individual to do?

Buy assets that are not dollar denominated.

Bullion coins are my favorite. Nickles too.

Diversify. Pay off debt. And “get small in your hole”. (Any vet knows what that means!)

–30–

 


MONEY: TARP was theft

Thursday, January 3, 2013

http://www.ritholtz.com/blog/2012/12/its-not-a-tax-or-spending-problem-its-a-devolution-into-lawlessness/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29

It’s Not a Tax or Spending Problem … It’s a Devolution Into Lawlessness
By Washingtons Blog – December 26th, 2012, 1:30AM
It’s Not a “Fiscal Cliff” … It’s the Descent Into Lawlessness

*** begin quote ***

Numerous top economists say that the bank bailouts are the largest robbery and redistribution of wealth in history.

Why was this illegal? Well, the top white collar fraud expert in the country says that the Bush and Obama administrations broke the law by failing to break up insolvent banks … instead of propping them up by bailing them out.

And the Special Inspector General of the Tarp bailout program said that the Treasury Secretary lied to Congress regarding some fundamental aspects of Tarp – like pretending that the banks were healthy, when they were totally insolvent. The Secretary also falsely told Congress that the bailouts would be used to dispose of toxic assets … but then used the money for something else entirely. Making false statements to a federal official is illegal, pursuant to 18 United States Code Section 1001.

So breaking the rules to bail out the big, insolvent banks, is destroying our prosperity.

A strong rule of law is essential for a prosperous and stable economy, yet the government made it official policy not to prosecute fraud, even though criminal fraud is the main business model adopted by the giant banks.

*** end quote ***

It seems like it is time to hold the politicians and bureaucrats accountable for the lies and frauds.

My favorite is DonwsizeDC with its Read The Bills and One Subject At A Time ideas,

Of course, if no one is held accountable, then it really doesn’t matter. 

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