MONEY: The tomato soup standard of value

Monday, August 18, 2014

http://keywestlou.com/a-good-time-last-night

*** begin quote ***

Then to Publix. I bought nothing. Cost $51. How do families do it?

When I was in high school, I worked in what was then called a supermarket. The time 1949. Supermarkets then were not the huge stores of today. Not even close. One of my jobs was to stock the shelves. One of the items was Campbell Tomato Soup. Five cents a can. I noticed Publix was having a Campbell Tomato Soup sale. Four cans for $4.95. $1.24 a can.  Although more than 60 years later, still a major increase!

*** end quote ***

I would suggest to you that the difference is not “a major increase”, but a way to recognize that the value of “a dollar” — whatever that is — has dropped from 0.05 to 1.24.

Some economists — mostly from the Von Mise’s “Austrian School” — have asserted — I believe correctly — that the dollar has lost anywhere from 99.9% to 90% of its value depending on the interval you choose to measure.

In your specific example, it’s 95%!

Argh!

It’s about the Federal Reserve System, that is the OPEC of American Banks, Gooferment debt, Gooferment spending, cowardly politicians, and spendthrift bureaucrats.

The dollar, like the history of the French Franc, has been “devalued” day by day. Today the dollar is a shadow of its former self.

That’s the problem. 

Tomato soup hasn’t become more expensive; the dollars used to buy it are worth so much less. Ditto gas. Ditto every other product or service.

Argh!

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MONEY: US 90 percent silver coins minted before 1965

Monday, July 21, 2014

http://www.alt-market.com/articles/2229-the-immorality-of-paper-money

The Immorality Of Paper Money
Monday, 14 July 2014 16:44 Bob Livingston

*** begin quote ***

I still like U.S. 90 percent silver coins minted before 1965. They can be purchased in bags of $1,000 face amount or in smaller increments — even individually. (Find a local, reputable coin dealer with a good rating with the Better Business Bureau and a history in the community.) Buy for great price explosion upward as well as for survival coins. As paper money fails, a silver dollar will buy a week’s groceries any time.

*** end quote ***

A silver dollar is probably worth 19 U$D in melt value.

Don’t think that buys a week’s groceries. That’s probably hype.

But, it’s not hard to look at Zimbabwe, Argentina, Venezuela, or the pre-WW2 Germany experiences for an approximation of what could happen here.

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MONEY: THOSE SAME THREE SILVER DIMES

Monday, July 7, 2014

http://www.kitco.com/ind/Brecht/2014-07-03-Gas-Prices-Near-6-Year-Highs-No-Inflation-Who-Says.html

Gas Prices Near 6-Year Highs, No Inflation? Who SaysThursday
July 03, 2014 12:59

*** begin quote ***

While official government statistics show U.S. inflation at still low levels, anyone who buys gas, food or health insurance can attest to the fact that inflation exists in our everyday lives. GasBuddy has predicted that U.S. consumers will see the most expensive July 4th since 2008 at the gas pump.

Despite the dramatic increase in U.S. oil production in recent years, GasBuddy estimates that Americans are likely to pay about $1.435 billion per day for gasoline during the holiday week, about $50 million more each day, or $350 million more per week than last year.

*** end quote ***

Any wonder why the “stock market” is going up while the “standard of living” is going down like the Titanic!

The value of the Federal Reserve Note!

THREE silver dimes from 1964, when I started buying gas, would buy ONE GALLON of gas. At $21.15 per silver ounce, those SAME THREE SILVER DIMES are worth $5.70. Far more than a gallon of gas. (Never mind that today’s gas is better, cleaner, and healthier.)

So what’s changed?

The value of money has been inflated away by the Gooferment politicians and bureaucrats for the benefit of the Crony Capitalists and the Banking Cartel.

When do The Sheeple wake up?

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MONEY: A defined-contribution program

Sunday, July 6, 2014

http://online.wsj.com/articles/lockheed-martin-to-freeze-defined-benefit-pension-1404220591

July 1, 2014 9:16 a.m. ET

*** begin quote ***

Lockheed Martin Corp. LMT -0.82% plans to freeze its defined-benefit pension plan for salaried workers and move them to a defined-contribution program starting in early 2016.

*** end quote ***

Screw the little guys.

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MONEY: It already IS bankrupt

Wednesday, May 21, 2014

http://www.zerohedge.com/news/2014-05-14/what-happens-when-america-goes-bankrupt

*** begin quote ***

‘Buddy,’ I remember thinking, ‘America isn’t going bankrupt. It already IS bankrupt.’

Just so that we don’t mince words, my dictionary defines ‘bankrupt’ as “any insolvent debtor,” i.e. a debtor whose liabilities exceeds assets.

That’s the US government, by its own admission.

As we’ve discussed before, the US Government Accountability Office (GAO) publishes financial statements each year in which they list all official government assets and liabilities.

The liabilities far exceed the assets. Big time. And the hole is getting deeper each year.

At this point the government’s net worth is roughly NEGATIVE $17 trillion, about 110% of GDP. That’s textbook insolvency.

The only reason the US government is still able to service its debts is because they are borrowing money just to pay interest… and because the Federal Reserve keeps printing money to buy up US debt.

*** end quote ***

Some very ugly chickens are coming home to roost.

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MONEY: California dreaming of the Bank of North Dakota

Friday, May 16, 2014

http://www.opednews.com/articles/Robbing-Main-Street-to-Pro-by-Ellen-Brown-Banking_Jerry-Brown_Public-Banks-140507-488.html

OpEdNews Op Eds 5/7/2014 at 14:28:58
Robbing Main Street to Prop Up Wall Street: Why Jerry Brown’s Rainy Day Fund Is a Bad Idea
By Ellen Brown (about the author)

*** begin quote ***

There is another alternative — one that California got very close to implementing in 2011, before Jerry Brown vetoed the bill. AB750, a bill for a feasibility study for a state-owned bank, passed both houses of the state legislature but the governor refused to sign it. He said the study could be done by the Assembly and Senate Banking Committees in-house; but 2-1/2 years later, no further action has been taken on it.

*** and ***

That is not just California dreaming. There is already a highly successful precedent for the approach. North Dakota is the only state with its own state-owned depository bank, and the only state to fully escape the credit crisis. It has boasted a budget surplus every year since 2008, and its 2.6% unemployment rate is the lowest in the country. Contrast that to California’s, one of the highest.

In a 2009 interview, Bank of North Dakota President Eric Hardmeyer stated that when the dot-com bust caused North Dakota to go over-budget in 2001-02, the bank did act as a rainy day fund for the state. To make up the budget shortfall, the bank declared an extra dividend for the state (its owner), and the next year the budget was back on track. No massive debt accumulation, no Wall Street bid-rigging, no fraudulent interest-rate swaps, no bond vigilantes, no capital appreciation bonds at 300% interest.

*** end quote ***

I think there is a HUGE barrier to establishing any “State Bank”.

The crony capitalists give campaign contributions. That’s the People’s tax money stolen by the Gooferment and transferred to Wall Street and Big Banks. And, portion is kicked back to the politicians and bureaucrats.

All very “legal”.

That’s what’s going to stop the “State Bank” movement cold!

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MONEY: What growth? In the money supply!

Wednesday, April 30, 2014

Fed Cuts Bond Buys, Sees Growth Pickup

The Federal Reserve said it would reduce its mortgage and Treasury bond buying program to $45 billion per month, while pointing to a growth pickup after a bad winter and sticking to previous guidance it has given on the outlook for short-term interest rates.

The steps were widely expected by investors before the meeting and represent a continuation of the monetary policy strategy laid out by Fed Chairwoman Janet Yellen and former Chairman Ben Bernanke in the last few months.

The Fed’s move came after a report that showed the U.S. economy barely grew in the first quarter. Fed officials acknowledged the first quarter slowdown was worse than expected by saying activity “slowed sharply.” Previously they had just said activity merely slowed.

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What marketplace are they watching?

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MONEY: Inflation = 2, 6, or 10 percent?

Friday, April 25, 2014

http://dailyreckoning.com/the-art-of-central-banking/

The Art of Central Banking
by Kate Incontrera.
Posted Apr 16, 2014.

*** begin quote ***

What is the inflation rate? Now, you think that’s just quantity, right? Just add up stuff. Anybody can do that. But it’s not that easy. There are lots of things go on in deciding what to put into that basket, and if you work hard enough, you can get that number anywhere you want it.

And the feds have done a great job at that. They have redone the way they calculate the inflation rate twice in the last 30 years and – guess what? – Each time, they’ve gotten a lower number. How do you like that? What a coincidence.

Right now, we have an inflation rate of about 2 percent. If you did it the way they did it in the ‘90s, you’d have 6 percent. Okay, that’s 4 percent difference, but it’s – you know, it’s three times the rate that we’re working from. And, if you did it the way they did it during the Carter Administration, you’d have an inflation rate of almost 10 percent. That’s five times the number we’re working with.

Now, here’s the question. Each time each of these numbers was done by a group of economists, the brightest and best in the country. Now, which one of these groups was a bunch of dunderheads? One of them was! Two of them were! How come? How are you supposed to know that? Which one is right?

*** end quote ***

The FED is the OPEC of the Big Banks.

The little guy doesn’t stand a chance.

Prior to 1913, gold was money and the discipliner of the Gooferment. After 1913, the Big Banks enabled Big Gooferment and were rewarded with a license to steal.

The part that bothers me is that the poor, the elderly, and those on fixed income are being robbed and the banisters, union “leaders”, politicians, and bureaucrats are rolling in dough.

Argh!

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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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