POLITICAL: Nuke the FED!

Monday, November 3, 2008

http://www.lewrockwell.com/rockwell/austrian-econ-more-than-ever.html

Why Austrian Economics Matters More Than Ever
by Llewellyn H. Rockwell, Jr.

*** begin quote ***

Abolishing the Fed would put a huge brake on the planning state. Without the ability to expand the money supply at will, the federal government would become about as threatening as state or local government. That is to say, the federal government would still be an intolerable imposition on life, liberty, and property. But we wouldn’t be worrying about hyperinflation, large scale bubbles in specific sectors, crazy business cycles, trillion-dollar bailouts, controls that reach into every nook and cranny of our lives, a cradle to grave welfare state, or a global empire that invades any and every country at will, and makes America the enemy to whole regions of the world.

That’s only the beginning of what the end of the Fed would mean. It would dramatically change the political culture in this country. Bureaucracies would tumble. Trade would stabilize. The investment-risk calculus would accord with the free market. The left could no longer live out its pipe dreams of socialist utopia at our expense. The right would have to give up its wacky notion of a world police state. The power ambitions of whole sectors of society would be scaled back.

The state is always and everywhere a danger, even when it has no monopoly on money and no printing press that can create money tickets at will. But a state with the ability to make its own money is a grave and relentless threat to prosperity and freedom. It leaves the future entirely to the discretion of the money managers. Every day we live under the threat that the US could be the next Weimar Republic or even another Zimbabwe. All that stands between us and that day is the wisdom and prudence of the Fed.

*** end quote ***

There was a fundamental shift in America that was done without the People even being aware of the terrible path they were being taken down.

With the financial meltdown (i.e., criminal collusion between Congress and Wall Street), it seems like an appropriate time to put the Fed out of business.

It’s un-American!

# # # # #


POLITICAL: Make work, and infrastructure, is just inflation spending!

Saturday, October 18, 2008

http://channel-surfing.blogspot.com/2008/10/use-public-works-to-put-public-to-work.html

Friday, October 17, 2008

Use public works to put the public to work

*** begin quote ***

Anyone who thinks we can balance the federal budget and dig ourselves out of the financial quagmire is just fooling themselves. We can’t, and Paul Krugman explains why today:

{Extraneous Deleted}

On the other hand, there’s a lot the federal government can do for the economy. It can provide extended benefits to the unemployed, which will both help distressed families cope and put money in the hands of people likely to spend it. It can provide emergency aid to state and local governments, so that they aren’t forced into steep spending cuts that both degrade public services and destroy jobs. It can buy up mortgages (but not at face value, as John McCain has proposed) and restructure the terms to help families stay in their homes.

And this is also a good time to engage in some serious infrastructure spending, which the country badly needs in any case. The usual argument against public works as economic stimulus is that they take too long: by the time you get around to repairing that bridge and upgrading that rail line, the slump is over and the stimulus isn’t needed. Well, that argument has no force now, since the chances that this slump will be over anytime soon are virtually nil. So let’s get those projects rolling.

*** and ***

Amen.

*** end quote ***

Posted by Hank Kalet at 5:38 PM

# – # – #

fjohn said…

Can’t you see the utter absurdity of the gooferment printing more money to spend on make work projects? They are counterfeiters! See that’s why they want you confused about what is money. (And have done a superb job of dumbing down the entire population!)

Forget the “dollar”. It’s meaningless. It’s not a store of value, unit of account, or useful intermediary.

Lets pretend that a gallon of gas is a unit of money. How can the gooferment just print gallons of gass? It can certainly print more receits for gallons of gas, but someone is going to get screwed when they can’t redeem their receit for the gallon it represents.

So too, regardless of what you think a dollar represents, somebody in this “printing press” money gets screwed.

Let’s have a guessing game?

Senior citizens on fixed income as prices rise! Very good.

Anyone who holds an “old dollar” as the new ones get printed. Excellent!

Any one who has to buy something. You get the prize!

Who wins? (If there are losers, there has to be winners!)

Politicians who get to spend these counterfiet dollars first.

Unions, especially gooferment ones, who have contracts tied to the minimum wage or inflation escaators.

Those who hold commodities and land. (The gooferment can’t print more of those.)

So, now maybe, just maybe, you will see this as the fraud, the theft, the cheating of the poor, that it really is.

How fortunate we have the gooferment to save us all.

{Shaking my head in disbelief. How can smart people be soooo blind!}

Sheeple!

# # # # #


RANT: It’s not an “economy” failure, nor a “free market” failure. It’s a “political” failure!

Saturday, October 11, 2008

On Oct 10, 2008, at 10:08 PM, P wrote:

*** begin quote ***

From: “Chuck & Joyce”
Date: October 10, 2008 7:18:54 PM EDT
To: <Undisclosed-Recipient:;>
Subject: Fw: Our failed economy

Back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country to a pack of nit-wits who couldn’t make money running a whore house and selling booze?

*** end quote ***

TO WHICH I REPLIED:

the economy hasn’t failed. we’ve failed to keep our politicians in line with what the dead old white guys outlined as the proper role of gooferment. at our own peril. anyone who votes for an incumbent this year is part of the problem. even if the incumbent had NOTHING to do with it or did nothing bad, they were: (1) tacitly complicit; (2) too stupid to realize what was coming down the road; OR (3) ineffective to stop it. Look at how many times Ron Paul was the lone voice “no”! No on the war. No on taxes. No on Fannie and Freddie. No on the Fed. Sigh. Best gooferment money can buy. Sorry. It wasn’t an economy failure; it was a political failure. We may become the next hyperinflation — like present day Rhodesia, Argentina of the 70s, or Germany of the 1930s. We know how well those all worked out. Gold coins may be needed. The Dead Old White Guys told us that was money. But we didn’t listen as FDR and Nixon fooled us. The 1913 FED started to procession to where we are today. Spinning out of control. Does no good to be right when the commonweal goes over the cliff taking us all to perdition. Argh. It’s all socialism and the elite in their hubris have led us there. Now where is my pitchfork and torch!

# – # – #

Warning! Don’t stick your fingers in the Libertarian’s cage and poke or prod them. They can snap back. Us little L libertarians are very frustrated. No amount of warning “Here comes The Cliff” has done any good. All we get are dumb looks as people ask “Who’s Cliff?” Guess you know now. Welcome to what Mises, Hayek, Rothfarb, and all the “Austrian School” economists have been warning about!

Don’t blame me. I supported Ron Paul!

# # # # #


FUN: Training?

Friday, October 10, 2008

FROM LUDDITE:

*** begin quote ***

An Indian walks into a cafe with a shotgun in one hand and pulling a male buffalo with the other.

He says to the waiter: ‘Want coffee.’

The waiter says, ‘Sure, Chief. Coming right up.’

He gets the Indian a tall mug of coffee. The Indian drinks the coffee down in one gulp, Turns and blasts the buffalo with the shotgun, Causing parts of the animal to splatter everywhere And then just walks out.

The next morning the Indian returns. He has his shotgun in one hand, pulling Another male buffalo with the other. He walks up to the counter and says to The waiter ‘Want coffee.’

The waiter says ‘Whoa, Tonto! We’re still cleaning up your mess from yesterday. What was all that about, anyway?’

The Indian smiles and proudly says …

‘Training for position in United States Congress: Come in, drink coffee, shoot the bull, Leave mess for others to clean up, Disappear for rest of day.’


RANT: It’s not a “financial crisis”; it’s a moral crisis!

Tuesday, October 7, 2008

http://www.glennbeck.com/content/articles/article/198/16171/


Glenn Beck: What happened?

October 6, 2008 – 13:01 ET
Glenn’s letter to his family explaining how we got into this economic crisis…
Yes, another email letter from your crazy brother. You raised a lot of questions in your last email and I am going to try to answer all of them.

I think all of your questions fall into three areas: (1) how did we get here; (2) what’s coming; and (3) what can I do to prepare myself and my family.

Consider this email as my answer to your first question, “how did we get here?”. I’ll be sending you 2 more emails answering your other two questions. Since there’s a lot of misinformation out there I will document each of the facts in my emails so you know where I pulled the information from and where you can go to read and learn more.


{Article Continues}

*** end quote ***

A well-reasoned well-documented apolitical (there’s a lot of blame to go around!) piece. Clearly, there are a lot of people who deserve some tar and feathers. Clearly, it ain’t going to change anytime soon. Clearly, not only will NEITHER prez candidate be ABLE to DO anything about it. So what’s some one to do. (1) Get rid of incumbent politicians. Good start. (2) DownsizeDC dot org to slow them down and put them under a microscope. (3) Get ready for a “japan decade” of low growth tight times and look at the stagflation of the Carter years. Morose, yes. Realistic, yes. We need to summon up the Dead Old White Guys for government reform, the courage to start making hard political choices, and good old American ingenuity. We have to THINK our way out of this mess. And, “thinking” is not Washington’s strong suit. Spending is. We have to follow the lead of Andrew Jackson and kill the FED. It’s the root of all evil in that the inflation tax allows COngress to spend money it doesn’t get from taxes. We need them to run an honest set of books. You want a war, pay for it. You want welfare, pay for it. You want spending, where is the tax to cover it. Painful, yes. Necessary, yes. Unavoidable, yes.

# # # # #


MONEY: Why not deal directly with the Treasury?

Monday, October 6, 2008

http://www.lewrockwell.com/blog/lewrw/archives/023366.html

October 06, 2008
A Question
Posted by Charles Featherstone at October 6, 2008 01:59 PM

*** begin quote ***

Some years ago, I signed up for U.S. Treasury press releases regarding bond and note sales. I don’t remember why I did this, and generally I never bothered to read the e-mails.

*** end quote ***

Once upon a time, Treasury debt, specifically T-Bills, were only available in 10k$ denomination. Once upon a time, FDIC insurance was only available up to a very limited amount. (I remember it as 10k. But that was a long long time ago.) Obviously, there was some payoffs — legal campaign contributions or illegal graft — and “insurance” was raised to 100k.

Why do we need FDIC?

Small depositors can deal directly with the Treasury via Treasury Direct!

So, explain to me again WHY we need any FDIC insurance?

Is it a payoff to banks who make contributions? Or is there another scam going on?

Sigh!

# # # # #


POLITICAL: You’re Going To Guarantee A Depression!!! Ron Paul

Sunday, October 5, 2008

POLITICAL: You’re Going To Guarantee A Depression!!! Ron Paul

Ah the congress critters vote to enslave us with the chains of debt and inflation.

# # # # #


RANT: Wooden arrows?

Sunday, October 5, 2008

http://deepbackground.msnbc.msn.com/archive/2008/10/03/1489413.aspx

*** begin quote ***

Tucked into pages 262 and 263 of the bill, for example, are provisions that will aid the manufacturers of “certain wooden arrows designed for use by children.” The bill will exempt the arrows from an excise tax of 39 cents. There are also tax breaks for race-track owners, for rum imported from Puerto Rico, for worsted wool makers, Hollywood film and television production companies and on and on.

*** end quote ***

Maybe this will be a wake up call to Get Rid of Incumbent Politicians (GRIP)?

# # # # #


RANT: Ditto; Gooferment go home!

Thursday, October 2, 2008

http://www.lewrockwell.com/orig9/fairfax3.html

No More Help, Please by Stephen Fairfax

*** begin quote ***

My so-called representative voted for the Billionaire Bailout. It’s easy to understand why; he’s collected $732,629 from the Securities & Investment industry alone. My firm has paid far more than that in taxes, but taxes don’t buy congressional votes the way campaign contributions do. The 7 Massachusetts “representatives” who voted for the Billionaire Bailout have collectively gathered more than $11,785,000 from investment, banking, real estate, law, lobbying, and building industries. No wonder they support the Billionaire Bailout despite overwhelming public opposition.

*** end quote ***

You really couldn’t have forgotten the three rules of politics: (1) feather your own nest; (2) reward your friends; and (3) punish your enemies.

The Bailout does all three! But not for thee or me.

# # # # #


MONEY: “Silent” Bank Run

Thursday, October 2, 2008

http://www.charlotteobserver.com/business/story/226799.html

Wachovia faced a ‘silent’ bank run; FDIC forced sale
Fearing a loss of funding over the weekend, the FDIC forced the sale.
By Rick Rothacker and Kerry Hall
CharlotteObserver.com Business
Posted: Thursday, Oct. 02, 2008

*** begin quote ***

Starting Friday morning, Evans said, businesses and institutions with large accounts started withdrawing money to lower their balances to below the federally insured $100,000 limit. They weren’t closing accounts, he said, adding “they were very apologetic in saying they love the service they get from Wachovia and they weren’t leaving Wachovia. They were just moving their money until things settled down.”

*** end quote ***

Clearly, for us little guys, you should never have anything close to the FDIC limit.

Even with that, you can’t have all your eggs in one basket.

Paper money is just that paper money. When panics start, they develop a life of their own. Clearly, depending upon one bank is absurd. Even if FDIC comes in and saves “your bank”, I can only imagine the ‘fun’ while things, like deck chairs, get rearranged.

It would seem that us little guys need several banks or credit unions pre-set up and funded, ready to go at a moments notice.

I’d go so far as to suggest that FOUR might not be excessive. With web bill pay, printed checks, and direct deposit all energized ready to go.

Fore warned is Fore armed. “Be prepared” It ain’t just for Boy Scouts.

# # # # #


POLITICAL: FDIC Insurance higher?

Tuesday, September 30, 2008

http://news.yahoo.com/s/bloomberg/20080930/pl_bloomberg/ar8q_hit0nyi

Obama Proposes Increasing Federal Deposit Insurance to $250,000 Nadine Elsibai 1 hour, 58 minutes ago

*** begin quote ***

Sept. 30 (Bloomberg) — Barack Obama, the Democratic presidential nominee, today proposed increasing the Federal Deposit Insurance Corp. limit to $250,000 from the current level of $100,000.

*** end quote ***

Sorry, I disagree. The taxpayer is not supposed to be an insurance company. The limit when it was raised led to the Savings & Loan problem. There’s no reason in today’s marketplace to have FDIC Insurance at 100k. I can understand wanting to protect small savers. But let them use Treasury Bills, just like the big boys. In the “old days” those were not available to the  little people. They are now!

No, no need for a larger FDIC, unless you want to insulate the bankers.

# # # # #


POLITICAL: The bailout is a vague pos!

Monday, September 29, 2008

http://www.lewrockwell.com/blog/lewrw/archives/023141.html

September 27, 2008

Don’t you love representative government?
Posted by Michael S. Rozeff at September 27, 2008 08:37 AM

*** begin quote ***

Don’t you love representative government? We take potshots at the bailout bill and send e-mails to Congress. Meanwhile, basically in secret, they introduce various plans. We are clueless as to what these plans are or mean. We do not know the details, only vague hints. We are totally unable to follow the debate much less influence it. Half the time or more, most Congressman likewise are clueless. A great deal of haste is involved (Haste makes Waste, remember?) We mainly get promises that, yes, a deal will be reached by Sunday, as if we actually wanted a deal. A deal before Sunday makes it easier to appear on talk shows. Then, suddenly, a bill will appear and be passed. We the people will then have spoken. Don’t you love representative government?

*** end quote ***

We know they don’t read what they pass. Why should we be expected to pay for it?

# # # # #


MONEY: Are we going to be left with a banking oligarchy?

Monday, September 29, 2008

http://biz.yahoo.com/ap/080929/wachovia_citigroup.html?.v=1

Citigroup to buy Wachovia banking operations
Monday September 29, 9:24 am ET

*** begin quote ***

NEW YORK (AP) — In the latest byproduct of the widening global financial crisis, Citigroup Inc. will acquire the banking operations of Wachovia Corp. in a deal facilitated by the Federal Deposit Insurance Corp.

*** end quote ***

Doesn’t anyone think that banks are becoming too big?

# # # # #


RANTING: Estimates? Gooferment estimates? ROFL!

Sunday, September 28, 2008

http://townhall.com/columnists/ThomasSowell/2008/09/24/a_political_solution_part_ii

Wednesday, September 24, 2008
Thomas Sowell :: Townhall.com Columnist
A Political “Solution”: Part II
by Thomas Sowell

*** begin quote ***

Estimates of how much money a government program will cost are notoriously unreliable. Estimates of the cost of the current bailout in the financial markets run into the hundreds of billions of dollars, and some say it may reach or exceed a trillion.

*** end quote ***

Estimates are always wrong. In this case, we have no idea of the liability the congress critters are signing your children up for!

# # # # #


MONEY: Buying a “falling knife”?

Sunday, September 28, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCNnbO2lMJG4&refer=home

WaMu Failure Shakes Seattle, From Shareholder to Job Seeker

By Peter Robison and Dina Bass

*** begin quote ***

Sept. 27 (Bloomberg) — Sally Rawlings was one of the last people to buy shares in Washington Mutual Inc., showing faith that her hometown Seattle savings and loan would be able to weather its financial crisis.

*** end quote ***

I’d suggest that she not go trying to catch “falling knives”. Although it is tempting, to buy low. But it’s low for a reason! Stop losses by not starting them?

# # # # #


LIBERTY: Stop the bailout!

Saturday, September 27, 2008

http://tinyurl.com/4brspa

Download “Stop the Bailout!” 26-09-2008 (2.97 MB)
Duration: 8:05 m – Filetype: mp3 – Bitrate: 51.28820816953 KBPS – Frequency: 44100 HZ
Lew Rockwell on the Michael Reagan Show

# – # – #

Well worth a less than ten minute listen.

# # # # #


FUN: 85B$ to AIG, no; 300k$ to every adult, yes!

Friday, September 26, 2008

FROM MY LUDDITE FRIEND:


From: Luddite
Date: September 26, 2008 9:04:45 AM EDTTo: “Know It All”Subject: Birk Alternative Economic Recovery Plan
*** begin quote ***

The Birk Alternative Economic Recovery Plan

I’m against the $85,000,000,000.00 bailout of AIG.

Instead, I’m in favor of giving out the $85,000,000,000 to Americas in a “We Deserve It Dividend.”

To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens, age 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fairly good stab at adults 18 and up..

So divide 200 million adults 18+ into the $85 billon. That equals $425,000.00.

My plan is to give $425, 000 to every person 18+ as a “We Deserve It Dividend.”

Of course, it would NOT be tax free. So let’s assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 back in taxes. That sends $25.5 billion right back to Uncle Sam.

The result is every adult 18+ has $297,500.00 net of taxes in their pocket. A husband and wife would have $595,000.00.

What would you do with $297,500.00 or $595,000.00 in your family? Pay off your mortgage – housing crisis solved. Repay college loans – what a great boost to new grads. Put away money for college – it’ll be there safe in a bank – create money to loan to entrepreneurs. Buy a new car – create jobs. Invest in the market – capital drives growth. Pay for your parent’s medical insurance – h ealth care improves. Enable Deadbeat Dads to come clean – or else.

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we’re going to re-distribute wealth, let’s really do it…instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by one of our candidates for President.

If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+!

As for AIG – the hell (sorry about that!) with them. Liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate.&nb s p; Let the private sector bargain hunters cut it up and clean it up.

Here’s my rationale. We deserve it and AIG doesn’t.

Sure it’s a crazy idea that can “never work.”

But can you imagine the Coast-To-Coast Block Party that would take place!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion . We deserve the money more than the geniuses at AIG or in Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh…I feel so much better getting that off my chest.

Kindest personal regards,

*** end quote ***
But what would the poor starving plutocrats do? The strange “common sense” you find on “those inter tubes”!
# # # # #


Follow

Get every new post delivered to your Inbox.

Join 1,032 other followers

%d bloggers like this: