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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POLITICAL: Global financiers create political cover

Sunday, January 19, 2014

http://www.zerohedge.com/news/2013-12-13/war-china-inevitable

Is War With China Inevitable?
Submitted by Tyler Durden on 12/13/2013 22:10 -0500

*** begin quote ***

Global financiers created the circumstances that have led to America’s probable economic demise, but they don’t want to be blamed for it. War provides the perfect cover for monetary collapse, and a war with China might become the cover to end all covers. The resulting fiscal damage and the terror Americans would face could be overwhelming. Activists who question the legitimacy of the U.S. government and its actions, once considered champions of free speech, could easily be labeled “treasonous” during wartime by authorities and the frightened masses. (If the government is willing to use the Internal Revenue Service against us today, just think about who it will send after us during the chaos of a losing war tomorrow.) A lockdown of civil liberties could be instituted behind the fog of this national panic.

*** end quote ***

You have to look at the financial fraud being pulled by the Fed.

The Chinese are in control of our fate. (Not that they don’t have their own problems.)

So, when these very ugly chickens come home to roost, how will the elite avoid the “french revolution’s guillotine”? 

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POLITICAL: Bernard von NotHaus, “Rosa Parks” opposing the FED

Friday, January 17, 2014

LIBERTY DOLLAR NEWS:
December 2013 Vol. 15 No. 12

Tortured Without Being Sentenced: Bernard von NotHaus

*** begin quote ***

Judy Shelton, a noted economist who knows which way is up, author of The Coming Soviet Crash (1989) and Money Meltdown (1994) that influenced my work on the Liberty Dollar, a longtime veteran of Washington, a friend who was an approved witness for my trial by not called to testify by my Dumb and Dumber attorneys and the first person to brand me as the “Rosa Parks of monetary policy,” has published a quick 68 page booklet, Fixing the Dollar Now.

*** end quote ***

This fellow, Bernard von NotHaus, made a mistake. Poking the Banking Cartel, called the “Federal Reserve System” (i.e., the OPEC of money). Note that despite the name, it’s not “Federal”. It’s a private cartel!

And, as Bernard von NotHaus pointed out, the “dollar”, (technically The Federal Reserve Note), is NOT a store of value.

This is a direct assault on the wealth of the People. It hurts the “non-rich”, who have the capability of holding non-dollar denominated assets. The poor and those on fixed income, who have to spend most or all of their income, are paying the hidden taxes. And when they get a few dollars ahead, their savings are marginalized by low rates of return and the Fed’s printing press.

You have to hold gold, silver, nickels, or any asset that is not in “dollars”. Jury is still out on bit coins in my mind.

YMMV!

I call this political because Bernard von NotHaus is a political prisoner in limbo!

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GOLD: Cash is not a “store of value”

Sunday, October 13, 2013

http://news.yahoo.com/ap-impact-families-hoard-cash-5-yrs-crisis-042042926.html

AP IMPACT: Families hoard cash 5 yrs after crisis

Associated Press BERNARD CONDON 3 hours ago

*** begin quote ***

NEW YORK (AP) — Five years after U.S. investment bank Lehman Brothers collapsed, triggering a global financial crisis and shattering confidence worldwide, families in major countries around the world are still hunkered down, too spooked and distrustful to take chances with their money.

An Associated Press analysis of households in the 10 biggest economies shows that families continue to spend cautiously and have pulled hundreds of billions of dollars out of stocks, cut borrowing for the first time in decades and poured money into savings and bonds that offer puny interest payments, often too low to keep up with inflation.

“It doesn’t take very much to destroy confidence, but it takes an awful lot to build it back,” says Ian Bright, senior economist at ING, a global bank based in Amsterdam. “The attitude toward risk is permanently reset.”

A flight to safety on such a global scale is unprecedented since the end of World War II.

The implications are huge: Shunning debt and spending less can be good for one family’s finances. When hundreds of millions do it together, it can starve the global economy.

Weak growth around the world means wages in the United States, which aren’t keeping up with inflation, will continue to rise slowly. Record unemployment in parts of Europe, higher than 35 percent among youth in several countries, won’t fall quickly. Another wave of Chinese, Brazilians and Indians rising into the middle class, as hundreds of millions did during the boom years last decade, is unlikely.

*** end quote ***

“Money is a matter of functions four, a medium, a measure, a standard, a store.” He repeated that four times like poetry. “Six Characters in Money: Portable – Durable – Divisible – Uniformity – Limited Supply – Acceptability.” — CHURCH 10●19●62 (Vol 1) 978-0-557-08387-9 page 110

Sorry, but “cash” isn’t money these days. While it is a “medium of exchange” and “measure”, it fails as a “standard” or “store”.

And maybe if it fails “standard”, it may be failing “measure”.

OK, it does serve as a “medium of exchange”. 

But that’s it.

Note that in disasters and civil unrest, there is no exchange.

And, the TEOTWAWKI (The End Of The World As We Know It) preppers point out you can eat money. But you can make an expensive fire and poor quality toilet paper out of it.

Let’s tackle “standard” next. What is a “dollar”? It’s got no measure. It’s purchasing power decreases year over year due to inflation. An ounce, a gallon, a meter — they don’t change.

Back to “measure”, a 100 is still a 100. But it’s like baseball and football records. How do we measure if every year they change the definition of distance?

And cash is certainly not a “store”. The “rats” are eating the “seed corn” of value.

Argh!

I suggest the preppers’ mantra — beans, bullets, bandaids, and then bullion!

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POLITICAL: the Rosa Parks of alternative money

Thursday, October 10, 2013

http://dailyreckoning.com/the-domestic-terrorist-you-can-call-a-hero/

Daily Reckoning
The “Domestic Terrorist” You Can Call a Hero
Jeffrey Tucker
Posted Sep 10, 2013.

*** begin quote ***

I dreamed I saw Bernard von NotHaus, alive as you or me.

Said I, “But Bernard, you’ve been jailed two years.”

“I never was,” said he.

Bernard has been the called the Rosa Parks of the alternative money movement. More than 10 years ago, he had this idea that he would make his own money — not the fake stuff we are used to, but the real stuff made of actual silver. He called his currency the Liberty Dollar (and why not, since there is no trademark on the word dollar?).

The feds raided him in in 2006. In 2007, the government outright stole 2 tons of coins from him, many of them featuring an image of Ron Paul, plus 500 silver coins and 50 gold coins. They threw him in jail and dragged his name through the mud many times.

He was later convicted of making counterfeit coins — an ironic conviction given that he was making silver coins to compete with official coins made out of scrap metal. That conviction was in March 2011, fully 2½ years ago. The government labeled him a “domestic terrorist.” Yet — and this is what amazed me — he still hasn’t been sentenced. He walks around as free as you or me.

*** end quote ***

It’s all about keeping the Sheeple sleeping.

I bought Liberty Dollars.

As a hedge.

The two silver discs are a little tarnished, but retain their value.

I forget what I paid for them but they have “held” their value.

The only mistake Bernard made was to put the word “dollar” on them. 

(Even though it’s not a restricted term.)

He should have just stuck to the weight.

But they are no more “counterfeit” than they are “worthless”.

Argh!

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RANT: Free Competition in Currency Act of 2013

Sunday, August 25, 2013

Letterhead
August 23, 2013
Mr. Ferdinand Reinke
1641 International Dr Unit 414
McLean, VA 22102-4831

Dear Mr. Reinke:

Thank you for contacting me about H.R. 77. I appreciate hearing from you.

H.R. 77, the Free Competition in Currency Act of 2013, was introduced by Representative Paul Broun on January 3, 2013 and was referred to the House Judiciary Committee’s Subcommittee on Regulatory Reform, Commercial and Antitrust Law. This legislation would allow any metal coins issued by a government or individual to be legally accepted currency.

The Federal Reserve System was established in 1913 to provide stability in the banking system through the regulation of bank reserves. It is the central bank of the United States and formulates the nation’s monetary policy, with a dual mandate of fostering maximum employment and price stability. It is also the “lender of last resort” in our nation’s financial system. Its record reflects its commitment to promoting low levels of inflation and unemployment, as well as maintaining economic stability.

The Fed is purchasing $85 billion in assets each month in an effort to stimulate spending and spur investment in businesses and homes. These asset purchases are known as quantitative easing (QE). There is uncertainty about the Fed’s ability to unwind from QE without some financial or economic disruption, including inflation. However, currently inflation and inflation expectations remain low; consumer prices rose 2% in July 2013, compared to a year earlier.

Since August 2012, the Fed has released quarterly financial statements in addition to its annual reports, in response to demands for accountability and openness. I think this is an important step and believe we will continue to see such measures from the Fed in the future.

Thank you again for contacting me with your views.

Sincerely,

Signature

Tim Kaine

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Notice that he never addresses the issue.

I know what the fluff says.

But the dollar has lost 99% of its purchasing power in my life time.

Argh!

Why bother writing these goes?

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GOLDBUG: Gold, Silver, and Oil

Monday, July 22, 2013

http://www.marketoracle.co.uk/Article41457.html

Gold and Silver Investors Greatest Secret Weapon
Commodities / Gold and Silver 2013 Jul 18, 2013 – 04:01 AM GMT

By: Steve_St_Angelo

*** begin quote ***

As the FED turns up the heat in the central bank frying pan, the frogs (public) don’t realize they are being cooked to death by inflation. I am quite amazed how loud the sizzling sound has become, but for some odd reason hardly anyone notices it.

Unfortunately, we are well past the point of no return. It’s only a matter of time now before the whole “Financial Cliff” falls off the mountain side. Until then, gold and silver investors will have to put up with some of the worst analysis ever to come out of government and MSM.

*** end quote ***

Another indication that “someone” is cooking the books.

In a free market, commodities don’t diverge from glacial trends.

Of course, as a tin foil hat, I suspect manipulation.

The FED can print “dollars”, but they can’t print gold, silver, oil, land, food, water, bandaids, or bullets.

This is all a fraud being pulled on the Sheeple and Clovers.

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