INTERESTING: Tom Woods on Economics and American History

Monday, July 18, 2011

http://youtu.be/m-LJ3wZjD4I

A great thirty minutes.

Wish I’d seen it in High School.

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MONEY: Wikipedia’s explanation of “malinvestment” is sparse

Wednesday, June 30, 2010

A OPEN EMAIL TO LEW ROCKWELL, A CHAMPION OF AUSTRIAN ECONOMICS

Dear Mister Lew:

Re: http://en.wikipedia.org/wiki/Malinvestment

Perhaps you could (if you are so moved), or one of your bright interns (you exploiter of the youth), could write an appropriate text for Wikipedia that truly reflect such an important word.

I’d do it, but I’m just a fat old white guy injineer. Remember the sources of my education: I’m just a fat old white guy injineer with: Law “degree” from watching Judge Judy, Medical “degree” from watching Doctor Phil, Building “degree” from watching “Holmes on Homes”, and Investing “degree” from reading about Bernie Made-off.

To which I’ll probably add ekenomicks from reading Mises and Rockwell. Yes, in college, (manhattan college manhattan dot edu), in my economics course, “Human Action” was on the supplemental reading list. And I read it then. Didn’t understand most of it. Surprised? Don’t be; in theology, we had to read a translation of Luther’s Ninety-Five Theses, Bhagavad Gita, and “Essays in Zen Budhism”. I hated that class; the Professor had a thing for “God and the Ways of Knowing” by Jean Danielou. Even four decades later, I can remember him babbling on about good old Danny Lou. But, those were the days. When Universities were truly about imparting wisdom regardless of the source. Not like today when it’s ersatz “whizdumb”.

In any event, I commend the link for your attention.

fjohn aka alibertarianin08824
behind enemy lines in Pepuls Republik of Nu Jerzee

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MONEY: Don’t save your wealth in fiat money

Tuesday, October 20, 2009

http://hbdbooks.com/2009/10/what-powers-government-fiat-money/

Fiat Money: The Fuel of Government
October 15, 2009 in Book Reviews, Economics
End the Fed
By Ron Paul

*** begin quote ***

The ability to print money gives the government unlimited power. If you tax the people too much they rebel. But if you declare your paper to be the only thing used as legal tender and allow yourself to print as much of it as you want, there’s no limit to what you can do. The effects of inflation are as real as any tax. It’s just that the people are slower to notice and connect their lower living standards to the actions of the government. The scariest power that the Federal Reserve gives government is that to wage war.

*** end quote ***

How can you subject your hard earned wealth to theft by inflation?

How can you defend your hard earned wealth?

Other fiat currencies? Gold? Silver? International equities? Non dollar denominated bonds?

The Family Farm?

Maybe the farm, because you can still eat. But the Estate Taxes will prevent yo from passing it on.

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MONEY: Thinking about your paycheck

Saturday, October 17, 2009

http://dailyreckoning.com/your-salary-not-slashed-yet-just-wait-it-could-still-be-offshored/

Your Salary Not Slashed Yet? Just Wait, it Could Still be Offshored
By Rocky Vega

*** begin quote ***

It’s not an isolated occurrence, as former White House economist Alan Blinder points out, 38 percent of American jobs could ultimately meet this fate. He recommends that measures be immediately taken in anticipation of these extraordinarily tough times.

*** end quote ***

In the formula of how much of an emergency fund you need, you better reassess how stable your job is.

The answer is “not very”!

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RANT: Can’t be a player and umpire at the same time

Friday, October 16, 2009

http://jasonalba.com/2009/10/13/health-insurance-tracks-cost-of-medical-care-bs/comment-page-1/#comment-46036

Affordable Outplacement
Health Insurance Tracks Cost Of Medical Care. BS.
Jason Alba

*** begin quote ***

That was what I thought the lie was. Based on my summer, with a birth and a surgery, I could not believe the overhead and price inflation caused by insurance companies. You can read about it on my JibberJobber blog, but understand that the hospital bills for the birth of my kid were about 60% discounted because we were self-pay, and we paid up front.

In other words, because we bypassed the health insurance system we were able to avoid 60% of the cost. Unbelievable.

*** end quote ***

My observation on the upcoming “Obama-care” where the gooferment will become — in quick order — my “insurance company”. (Yeah, I know what they say. But, I think it’s going to be “Medicare for everyone”. To paraphrase Judge Judy, “I wouldn’t believe you …” (i.e. a congress critter; any politician) “… if your tongue came notarized!”

If my insurance company screws me, I can go to the gooferment for relief. If the gooferment aka my insurance company screws me, to whom do I go to for relief? To the gooferment’s courts?

Just take my screwing and shut up!

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POLITICS: Increase savings and decrease spending at home

Saturday, October 3, 2009

http://www.lewrockwell.com/schiff/schiff49.1.html

The Price of Pretense in Pittsburgh by Peter Schiff

*** begin quote ***

Noting that a return to pre-crisis economics is impossible, the president assured the world that his administration will pursue policies to increase savings and decrease spending at home and challenged his Chinese counterparts to enact measures with the opposite effect in their own country.

While this is roughly what needs to happen, President Obama is actually doing everything in his power to prevent it. In point of fact, every policy move undertaken by his administration has exacerbated the very imbalances he supposedly wants to curtail. To so seamlessly profess one goal while simultaneously undermining it is an impressive piece of political theater. Unfortunately, this particular drama is likely to have an unhappy ending – and the ticket price will be staggering.

*** end quote ***

Upon reflection, when these very ugly chickens come home to roost, as also forecast by Reverend Wright, will there be any way to escape it?

It would seem that getting out of debt and getting very small in terms of exposures would be a good strategy.

Tactically, shift assets to durables, stockpile, and think defensively.

Argh!

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GOVEROTRAGEOUS: Beck calls the FED out

Wednesday, September 16, 2009

Glen Beck on his show now just called out the FED.

“Helicopter” Ben testified that the FED would NOT monetize the debt.

Today, Glen, with some help, demonstrated that the FED auctioned debt to the “public” and the next month bought that specific debt on the secondary market.

Can you say “shell game”?

I bet the Chinese are really steamed with their 5T$!

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LIBERTY: The end of the American Empire?

Tuesday, September 8, 2009

http://justsamachar.com/international/how-lehman-brothers-ripples-spread/?r=http://www.guardian.co.uk/business/2009/sep/04/lehman-brothers-aftershocks-28-days

guardian.co.uk
28 days that shook the world
How the collapse of Lehman Brothers pushed capitalism to the brink
The Wall Street titan’s bankruptcy triggered a system-wide crisis of confidence in banks across the globe
Andrew Clark in New York
Friday 4 September 2009 12.14 BST

*** begin quote ***

Barclays picked up parts of Lehman from the bankruptcy courts, salvaging about 10,000 of the bank’s 25,000 jobs. But many still question the wisdom of the US government’s decision to stand by and allow a vast investment bank to go bust, given the intertwined nature of Lehman’s trading relationships around the globe. Larry McDonald, a former Lehman vice-president, says the Bush administration could easily have offered the guarantee needed to help Barclays buy Lehman outright: “They put Lehman Brothers to sleep. They executed her. They put a pillow over her face.”

Researching a recently published book on Lehman’s failure, “a colossal failure of common sense”, McDonald interviewed more than 45 Lehman executives. They insisted that they warned both Bush’s treasury secretary, Henry Paulson, and the then chairman of the New York Fed, Timothy Geithner, of the consequences of inaction: “They were begging Geithner and begging Paulson. They were saying to Geithner ‘you’re going to unleash the forces of evil on the global markets – you don’t understand what you’re doing!'”

That is not to say that Lehman can shirk blame for its predicament. With $18bn of core equity on its balance sheet, the bank had taken positions of an astonishing $780bn in mortgages, stocks, bonds, oil, gold, derivatives and other investments. It had leveraged its books by an astonishing factor of 44 and it had opted to take a particularly huge punt on America’s teetering home loans market.

*** end quote ***

This writer hits the 64k$ question, but doesn’t or can’t answer it.

Why does Lehman go under but everyone else gets rescued?

Perhaps the reason is Geithner and Paulson close relationship with Goldman?

Goldman makes out like a bandit in the chaos.

Not hard to leap to a conclusion there.

Bottom line: the taxpayer got screwed.

And, it began a series of actions to compromise “capitalism” and our liberty.

Misquoting Churchill: “the the American Empire and its Commonwealth last for a thousand years, men will still say, ‘This was their worst hour.'”

Will this single event, the 2008 financial crisis, and the Bush administration’s response to it, be the single event that marks the beginning of the end of the American Republic?

Like the The Reichstag Fire, that allowed Hitler to accelerate the banning of the Communist Party, is Bush’s TARP1 the “October surprise” event that allows Obama to come to power and dismantle the American experiment.

Sad to think. Sadder still to think an old injineer see something that the political elite choose to ignore.

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POLITICAL: Subsidies and tariffs disclosurer!

Monday, July 20, 2009

http://blogs.abcnews.com/johnstossel/2009/07/your-handout-to-agribusiness.html

Your Handout to Agri-Business
07/09/2009 10:31 AM
John Stossel

*** begin quote ***

The Atlantic’s James Gibney has this suggestion:

Every product whose ingredients benefit from a subsidy should include the following language on the label:

“This product has been subsidized by the U.S. government at taxpayer expense. For more information, please visit usda.gov.”

And every product that benefits from tariff protection should have the following language on the label:

“This product is protected from foreign competition by U.S. import tariffs. Its price is higher as a result. For more information, please visit usitc.gov.”

*** end quote ***

I LOVE it!

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MONEY: LIBERTY DOLLAR NEWS

Tuesday, June 2, 2009

Dear Usual Suspects:

I’m a past fan of the Liberty Dollar until I got a good look at the extra cost of mark up for minting the coins. (Other bullion coins WERE cheaper. Today, due to demand, the markups are all significant! Low markups are essential in any bullion purchase.)

That’s not the issue today.

The Gooferment is attacking any form of alternative “money”. See they can’t afford to have anyone puncture their “balloon of illusion”. People might actually begin to “pay attention to the man behind the curtain”! If they begin to ask what is a “dollar”, then their whole house of cards since Roosevelt took us off the gold standard will come tumbling down. I’ve ranted at you and the world about the German WW1 hyperinflation, the Argentina inflation, the Carter stagflation, and the latest hyper inflation in Zimbabwe.

But that can’t happen here. Can it?

This is an interesting read of how far the powers in the District of Corruption will go to prevent anyone from pulling back the curtain on their “monetary paper monopoly”! See if the sheeple start to ask embarrassing questions, then the game is up. You’ll begin to ask questions. Embarrassing questions! And, they don’t have the answers.

What is your “dollar” really?

The politicians and bureaucrats will make up all sorts of “interesting” “barbara streisand” to take your eye off the fact that its just a green piece of paper. Worthless, unless you can find some fool to take it. The problem is now that the Chinese and the Arabs are growing reluctant to accept these at “face value”. What ever that is!

Time to smell the “barbara streisand” at the Federal Reserve Bank. (Which ain’t “federal”; “reserves” nothing; ain’t a “bank”!) Ron Paul has a bill that would audit this PRIVATE banking monopoly. (I thought monopolies were always bad? Only the gooferment can create a monopoly. Cause they will kill you if you don’t play along.)

(Adjusting my tin foil hat, it’s interesting to me that we invaded Iraq the second time with the intention of “regime change” shortly after Sadam had the impertinence to suggest that oil be priced and sold for gold. Now, was that just coincidence.)

Please read this with an open mind. You might be surprised.

fjohn
hopefully your favorite “tin foil” hat

# – # – #

From: Liberty Dollar <truth@libertydollar.org>
Date: May 29, 2009 10:58:14 PM EDT
Subject: 75,000 T-Dollars! & FBI Dirty Tricks

LIBERTY DOLLAR NEWS:
May 2009 Vol. 11 No. 05

Welcome Liberty Dollar Supporters!

Table of Contents:
1. FBI Dirty Tricks & Target Letters
2. Tea Party Dollar… Going… Going… Soon to be Gone!
3. All Tea Party Dollar Orders are PRE-ORDERS
4. Federal Reserve to Create a Recession
5. Liberty Dollar M&M! How Sweet!
6. Bernard’s Personal Rule 41g Motion

1. FBI Dirty Tricks & Target Letters

In case you missed the last Newsletter that was mistitled – the Liberty Dollar is officially under “criminal investigation.” Have you ever heard the phrase, “Anything you say can and WILL be used against you?” Please be informed that if you have any Liberty Dollars you are NOT in any danger of going to jail but you may be contacted by an FBI agent who may take your comments out of context and be used against you and/or the Liberty Dollar. I know it is hard to imagine that our very own government might misrepresent the facts, but if you think that is not possible, just read the Affidavit (begins on page 9) submitted by Special Agent Andrew Romagnuolo for the original Search and Seizure Warrants.

So while I urge you to be respectful and helpful to the criminal investigation… My non-legal advise is: DO NOT talk to the FBI or any law enforcement officer without an attorney present. This is your right – please exercise it. Simply tell the law enforcement officer that you wish to have an attorney present. Why should you be at risk when there is so much mistrust? Remember you are not required to even talk to a law enforcement officer unless you are subpoenaed. And then you have still have a right to have an attorney represent you. And if you can’t afford an attorney, the court will provide one. Quite frankly, I think it would be GREAT if 1,000 people requested an attorney so we could all take part in this !@#$#@! criminal investigation. Meanwhile, Liberty Dollar is making as much Real Money as possible and remains dedicated to providing an “inflation proof” solution to our country’s mounting monetary problems.

Seriously, several calls have already been reported. So please be on guard for FBI, crank or mysterious callers. Given the government thirst for dirty tricks, scare tactics, misc. calls and other ploys of disinformation, please report anything out of the ordinary that you think might be related to the Liberty Dollar. Please call or email the Liberty Dollar office IMMEDIATELY: 888.LIB.DOLLAR or email: FBI@LibertyDollar.org.

Please note the government is not required to send out a Target Letter to anyone, even if they are the target of an investigation. In fact, Target Letter is a misnomer because it is NOT sent to “targets.” It is mainly used as a scare tactic against people who may be called to testify before the Grand Jury. Maybe 1,000 people whose property has been seized should call the FBI and volunteer to testify… all with a court appointed attorney of course.

In response to the FBI’s Target Letters to Sarah Bledsoe and Rachelle Moseley, some Liberty Dollar supporters feel cheated by the recent FBI action:

Matthew Pitagora – RCO of San Jose wants a Target Letter.

“What? The DOJ only targets women for their Grand Jury Investigations these days? I want to be the target of a Federal Grand Jury Investigation! Come on FBI! You know where I live, so come on over and deliver my target letter at 6:45 AM. Oh wait, I forgot… I’m a BoR, Article 2 militia man, so I will get the standard 3 AM, flash-bang no-knock, with the fully armed, armored and offensive assistance of the U.S. Marshalls and federally bribed, local LEOs! So much for equality, justice and the American dream!”

Art Nicolet – RCO of Tucson agrees!

“This is discrimination! How come the FBI picks on women?? I want my target letter too! Oh, by the way I was sworn in as an American Online Grand Jury member today through http://www.americangrandjury.org. You see, the government would have you believe that only the federal courts convene a grand jury. But wait! The Constitution provides a means for ordinary Americans to form a grand jury to investigate illegal and immoral acts of politicians, bureaucrats and even the FBI. Go check it out. Let’s convene a Grand Jury to investigate the illegal seizure of our personal property of gold and silver. We don’t have to wait for the government to decide what it is going to use as a ploy to postpone return of our assets. In the meantime I can’t wait to get my target letter.”

[Editor note: I must confess that I too feel left out of Agent F's most recent holiday in Evansville. If he really wants to take a holiday he should "hand serve" my T-Letter in Hawaii! Now that would be real vacation. P.S.: Contrary to what you might think, "Agent F" does NOT stand for the F-word as defined by FCC. Nor does it stand for Fool, Fumbling or Funny. He is none of those. "F" simply stands for Failure because he is not an "A" agent nor is he going to win.]

2. Tea Party Dollar $1 Going… Going… Soon to be Gone!

I am still amazed that over 60,000 Tea Party Dollars were ordered in 24 hours! WOW! And the orders are continuing. The first T-Dollars have been shipped and are due to be in your hands by the Fourth of July! Please click HERE to avoid disappointment and order your Tea Party Dollar now. Still only a $1.00 or less! Disclaimer: Please note the Tea Party Dollar is NOT government issued money and is in fact a private voluntary barter currency (PVBC)dedicated to providing Americans with an inflation proof solution to our mounting monetary problems.

Get your Tea Party Dollar flag now! This terrific flag will be available in time for the Fourth of July! Currently we still have a limited number of 2 X 3 foot Tea Party Dollar flags for $6 each or order two or more for only $5 each! Please click HERE to order.

3. All Tea Party Dollar Orders are PRE-ORDERS

Let’s face it… the Tea Party efforts and the rise of the people’s opposition to government spending and bailouts is pretty damn amazing. And so is the Tea Party Dollar as evidence of that movement. Please note that all T-Dollars are ordered and paid for before delivery. This has been specified in all the offers. We had just enough lead-time to get the T-Dollars before the Fourth of July events. You can look forward to having your order in time IF YOU ORDERED IN THE FIRST 24 HOURS.

All orders placed after the initial 24 hours offer will not be available until after July 4th. We will ship them ASAP.

Meanwhile, I understand that the first $1 Tea Party Dollar has been posted on eBay for $5.99! And it is not even here yet. I am sure there is much fun to be had with such an inexpensive $1 item and I hope you have ordered enough. We do not plan to order more T-Dollars. Please click HERE to avoid disappointment and order Tea Party Dollars. It’s time to join the Party!

4. Federal Reserve can/will/have Created the Recession

Jon Nadler, Senior Analyst with Kitco Bullion Dealers in Montreal, finally gets it right in a long-winded article by quoting Marvin Goodfriend, a former official at the Federal Reserve Bank of Richmond: “Anybody who has been a central banker wouldn’t want to see inflation expectations become unhinged.” Goodfriend continues, “The Fed would have to create a recession to get its credibility back.” Goodfriend is now a professor at Carnegie Mellon University’s Tepper School of Business in Pittsburgh.

Look at that quote! A Harvard professor acknowledges that the Federal Reserve has the ability to “create a recession” in the U.S. economy to regain its credibility! They can… will… and have done exactly that! The only thing more amazing is that the American people are standing by while the government steals their purchasing power, retirement money and everything they and their children hope to enjoy! Simply amazing!!! Time for REAL MONEY to the rescue!!

If you have lots of time to waste, I recommend you read this looooooooooong article at:

http://www.kitco.com/ind/nadler/may192009A.html

Chris Powell, Secretary/Treasurer of Gold Anti-Trust Action Committee Inc. (GATA) confirmed, “Yes, the manipulation of interest rates is part of the manipulation of gold and the tyrannical power to control the whole economy.” If you are not familiar with the great work by GATA, please visit them at http://www.GATA.org.

5. Liberty Dollar M&M! How Sweet!

Now on a sweeter note. Did you know you can order custom M&Ms?! And as you may guess there are LIBERTY DOLLAR M&Ms!!! This is all the great work by Dave Gillie – RCO for Flint. Recently, I stopped by Dave’s Coney Island Restaurant and discovered… the Liberty Dollar M&M! They are the real thing and packaged 50 per bag. Just click HERE to design your custom M&M, select color and package! WOW what a great idea for a sweet commodity currency!

6. Bernard’s Personal Rule 41g Motion

The court denied my Motion to give the government an additional 60 days to reply to my motion for recovery of the office computers, etc., that were not covered by the overly broad Search and Seizure Warrants. The DOJ’s 137 days to reply ends on June 17, just three days before the DOJ must reply to the much larger Rule 41g Motion for recovery of all the gold, silver, copper, etc., seized in Evansville and Coeur d’Alene over a year and a half ago. Stay tuned and responsive to these actions to help get your property back ASAP!

Closing Remarks:

Thank you for reading this newsletter. The first 50 people to email Thanks@LibertyDollar.org with the word FREE in the subject field will receive a free Tea Party Flag! As the Liberty Dollar heads to court, we all need to hang together or we will all hang separately. And as our Founding Fathers discovered, it was advantageous and just more fun to hang out together. Please continue to spread the Liberty Dollar solution to the current government created monetary problems. Real Money is the solution!

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” will we 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
http://www.LibertyDollar.org
888.LIB.DOLLAR
888.421.6181

Click HERE to Subscribe to Future Mailings.

HERE

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MONEY: Watch an old quizz show

Sunday, May 3, 2009

Just for an “economics lesson”, watch an old “Let’s Make A Deal” on Game Show Network. Pick any episode. They’re all from the Sixities. Watch for the final prize giveaway. It’s usually a car. Guess the price?

A beautiful Buick LeSabre. Base price 3,000 dollars.

Different dollars!

It makes you laugh!

But, it should make us all cry.

Some store of value.

In 40 years, will people be looking back wistfully about what a dollar could buy!

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