MONEY: The Federal Reserve Monopoly over Money

Tuesday, April 10, 2007

http://www.house.gov/paul/tst/tst2007/tst040907.htm

The Federal Reserve Monopoly over Money
April 9, 2007
Ron Paul
2008 Republican Presidential Candidate

***Begin Quote***

Recently I had the opportunity to question Federal Reserve Chairman Ben Bernanke when he appeared before the congressional Joint Economic committee. The topic that morning was the state of the American economy, and many of my colleagues raised questions about how the Fed might better “regulate” things to ease fears of an economic downturn. The tenor of my colleagues’ questions suggested that Mr. Bernanke’s job is nothing less than to run the U.S. economy, like some kind of Soviet central planner.

Certainly it’s true that Mr. Bernanke can drastically affect the economy at the drop of a hat, simply by making decisions about the money supply and interest rates. But why do members of Congress assume this is good? Why do we accept without objection that a small group of people on the Federal Reserve Board wields so much power over our economic well-being? Is centralized, monopoly control over our money even compatible with a supposedly free-market economy?

Few Americans give much thought to the Federal Reserve System or monetary policy in general. But even as they strive to earn a living, and hopefully save or invest for the future, Congress and the Federal Reserve Bank are working insidiously against them. Day by day, every dollar you have is being devalued.

The greatest threat facing America today is not terrorism, or foreign economic competition, or illegal immigration. The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch– Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference– that threatens to impoverish us by further destroying the value of our dollars.

The Fed’s inflationary policies hurt older people the most. Older people generally rely on fixed incomes from pensions and Social Security, along with their savings. Inflation destroys the buying power of their fixed incomes, while low interest rates reduce any income from savings. So while Fed policies encourage younger people to overborrow because interest rates are so low, they also punish thrifty older people who saved for retirement.
The financial press sometimes criticizes Federal Reserve policy, but the validity of the fiat system itself is never challenged. Both political parties want the Fed to print more money, either to support social spending or military adventurism. Politicians want the printing presses to run faster and create more credit, so that the economy will be healed like magic- or so they believe.

Fiat dollars allow us to live beyond our means, but only for so long. History shows that when the destruction of monetary value becomes rampant, nearly everyone suffers and the economic and political structure becomes unstable. Spendthrift politicians may love a system that generates more and more money for their special interest projects, but the rest of us have good reason to be concerned about our monetary system and the future value of our dollars.

***End Quote***

Any doubt why I support his bid for the Presidency.

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Posted by reinkefj

RANT: Obama trying out for “quarterback”; let’s meet the “coach” who’ll be calling the shots?

Tuesday, April 10, 2007

http://www.drudgereport.com/flash1.htm

LETTERMAN TO OBAMA: WILL HILLARY BE YOUR VP?
Mon Apr 09 2007 19:50:21 ET
To air Monday Night on CBS ‘LATE SHOW’:

*** begin quote ***

Obama: “You know, I think all the candidates are in to win and one of the things about the process is by the end of it, after having gone through all the debates and all the campaigning out in various states, people get a pretty good sense of who various candidates are and, but I think we’re all on the same team. We’re all Democrats. I think most of us want to see a healthcare system that provides coverage to everybody. Most of want to see an education system that gives opportunity to every kid. All of us think that we’ve got to start getting our troops out of Iraq, and so really what we’re doing is we’re trying out for quarterback…”

*** end quote ***

If he thinks he’s trying out for “quarterback”, then who is the “coach”? That’s the fellow we should be interviewing for the job as “president”.

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Posted by reinkefj

RANT: Imus’ hateful words rebuked

Tuesday, April 10, 2007

http://www.wnbc.com/news/11602539/detail.html?dl=headlineclick

Rutgers Team To Weigh In On Imus Comments
Rutgers Press Conference Set For 11 A.M.
POSTED: 7:16 am EDT April 10, 2007

*** begin quote ***

Members of the Rutgers women’s basketball team and coach C. Vivian Stringer planned to offer their feelings Tuesday on the gathering storm.

*** end quote ***

When I first heard this bozo’s comment, I was shocked. I thought he was trying for ratings. And, he got them. Everyone is talking about him and his comments.

For my part, I never liked the “shock jock” genre. Hence, I give no of them any of my valuable attention.

For the RU women, as a season ticket holder, I remind them “sticks ‘n’ stones”. Gratuitous opinions don’t make me what I am or am not. As far as their image, that is their responsibility. As far as how Imus sees them, that’s his problem.

I see strong young women who are finding their way in a difficult world. As far as their hairdos, I wish I had jet black hair again. As far as their sexual orientation, habits, or propensities, that’s no one’s business but theirs.

The comments of a clown should be “rewarded” with social ostracism. If all the moral outrage was turning off his show, his ratings would administer the ultimate rebuke. For my part, since I don’t listen to him and don’t like him, I can’t participate in the “turn off”. I can tell anyone who admits to listening that his comments reflect badly on them. When you fill your mind with trash, what would you expect?

I think that the marketplace should administer a strong lesson to Imus, MSNBC, and CBS Radio. For our part, we should ignore all of them until they DEMONSTRATE a change of heart.

I urge the RU women to take the high road. I’d just ask “what could he have been watching as they busted their collective butts to accomplish something”. I certainly didn’t see what he sees. And, I’ve been to a lot more games than he has.

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Posted by reinkefj

LIBERTY: DownsizeDCdotorg makes a good case for repealing the Patriot Act.

Monday, April 9, 2007

http://action.downsizedc.org/wyc.php?cid=66

2007-Apr-04
Repeal the Patriot Act

 

***Begin Quote***

Politicians excel at “the fine art of crisis creation.” Time and again they create policies that fail. Then they exploit those failures to grab more power, and then, almost inevitably, fail again.

It’s a vicious cycle and a cancerous death-spiral to our liberty.

9-11 and its aftermath provide a perfect example.

In truth, the federal government already had all the power and resources it needed to prevent the 9-11 attack. It knew who the terrorists were and what they were doing in advance, but Big Government still failed to protect us.

The follow-up was predictable. Government officials exploited their own failure to…

* Launch a fraudulent invasion of Iraq
* Erect a huge new bureaucracy in the form of the Department of Homeland Security
* Saddle the American people with the Patriot Act and the Real ID Act

Notice the pattern? Failure leads to new powers that lead to new failures…

* Iraq is a disaster
* The Department of Homeland Security is a mess
* The REAL ID Act is a nightmare
* And the Patriot Act is being abused

{Extraneous Deleted}

***End Quote***

SOOOOOOO, I took out my poison pen and added a blistering postscript.

***Begin Quote***

I am stunned to hear the FBI honcho admit that, even with the reduced requirements, the process is abused. I urge you to repeal the so called Patriot Act, as well as the Real Id, and “nuke” the Homeland Security organization. Pink slips for the leadership! With prejudice, they should all be “blacklisted” for other government jobs. Let them go live in the “real world” for a while. The labor can certainly seek other jobs, but the “leaders” that created this disaster are beyond reclamation. We have to send a message that there are penalties for incompetence and poor results. In this case, the results border on “criminal”. Clearly, this has been a disaster for liberty in the USA. Congress should get out the old “eraser on the ends of its collective pencils” and start repealing all the “stuff” done as a result of 9/11. It was a mistake and an over-reaction. No excuses. If you want my vote in the next election, then this is the single issue that will make me move the lever. If you can’t fix it by the next time I vote, then I’m going to vote for someone who can.

***End Quote***

Which I also forwarded to all the usual suspects!

One thing to remember is that poem “first they came for the Muslims, and I didn’t say anything because I wasn’t a Muslim”. I think it’s a comical (but dangerous) that we have a “homeland security”, which reminds me of Nazi Germany. All we need now are some Hollywood extras with snazzy black uniforms, heel clicking salutes, “vere isss your PAPERS!” and the comparison is complete.

Am I the only one who sees this a disaster of epic proportions?

I had the luxury of spending time with an old man who lost almost all of his family to the Nazi death camps. He was a Jewish intellectual — a specialist in international law. He saw what was coming. Every chance he had, he pushed someone out. While it was still loose, he was able to get his children out. His son was sent to England to learn “beer making” despite being a master chemist. His daughter went to learn to be an English Nanny despite being only fourteen. His wife went to England on a round trip ticket to visit the daughter and never went home. At the same time, he went on a business trip and never went back. His best friend shipped him some of his stuff and sold the rest. But, the friend could NOT get his family out. He waited too long. The friend’s wife was Jewish. Her, her family, and his children went to the camps. He dealt with it by committing suicide. You could not listen to these stories without being moved. When you would ask him how could it happen there, the answer was gradually in response to “threats”.

Any reason the hair on the back of my neck should NOT be standing up?

The Japanese Internment, “private” Census records used to round up “Japs”, The Northwood Document, The War on Drugs, The militarization of police, the Income Tax, the Inflation Tax, Ruby Ridge, Waco, Elian Gonzalez, Extraordinary Rendition, Gitmo, Jose Padilla, requiring passports in and out of our peaceful neighbors, eliminating Posse Comitatus Act of 1878, the Military Commissions Act, building a “Berlin Wall” on the Mexican Border, rounding up “illegals”?

Don’t forget the high taxes — the Income tax, the Inflation Tax, the Property Tax — that turn us into virtual slaves. The dead old white guys revolted over a 1% tax. Imagine what they’d say to us now?

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Posted by reinkefj

INTERESTING: A correspondent asked me if something “helped”

Monday, April 9, 2007

A correspondent asked me if something “helped”

***Begin Quote***

>Helps?

Hmm, that metaphysical. I’ll have ponder, pout, portend, practice, and prattle on that one for a while.

Maybe I can CRUISE (C=Contemplate, R=Reeducate, U=Unincorporate, I=Inculcate, S=Subjugate, and E=Eddycate) using it.

I once had a boss who would go nuts with jargon, acronyms, and mnemonics. Using one was good for a 30 minute diatribe about how “formulaic thinking precluded original discoveries”.

Every time I read such I think of him.

I think, like most things, there’s truth and consequences in what he said.

Like that movie the “golden child”, “stay on the path” is countermanded by “knowing when to break the rules”.

***End Quote***

Comments?

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Posted by reinkefj

LIBERTY: EPIC Recommends Against Use of Universal Identifiers

Monday, April 9, 2007

========================================================================
[3] EPIC Recommends Against Use of Universal Identifiers
========================================================================

In comments to the Federal Trade Commission, EPIC warned against using
universal identifiers in authentication systems. “Any move toward
universal identifiers, while potentially deterring amateur thieves,
increases the potential for misuse once determined criminals steal that
data,” EPIC said.

EPIC also urged the restriction, rather than expansion, of the use of
Social Security numbers as identifiers. “Social Security numbers have
become a classic example of ‘mission creep,’ where a program designed
for a specific, limited purpose has been transformed for additional,
unintended purposes, sometimes with disastrous results,” EPIC said. The
pervasiveness of the SSN and its use to both identify and authenticate
individuals threatens privacy and financial security; expanding use of
the SSN, making it a universal identifier, would harm, rather than help,
security efforts, EPIC said.

EPIC recommended against the creation of a centralized identification
system and advocated an identity metasystem in which authentication is
confined to specific contexts in order to limit the scope for potential
misuse. EPIC and others have explained that it decreases security to
have a centralized system of identification with one ID card for many
purposes, as there will be a substantial amount of harm when the card is
compromised. “Using a national ID card would be as if you used one key
to open your house, your car, your safe deposit box, your office, and
more,” EPIC said. A centralized system of identification creates a
“one-stop shop” for identity thieves. “The confidence and trust of
consumers will fall when such a breach occurs; people will withdraw
because of privacy and security questions,” EPIC said.

EPIC explained that “a system of distributed identification reduces the
risks associated with security breaches and the misuse of personal
information.” For example, a banking PIN number, in conjunction with a
bank card, provides a better authentication system because it is not
coupled with a single, immutable consumer identity. If the combination
is compromised, a new bank card and PIN number can be issued and the old
combination cancelled, limiting the damage done by the compromised data.
“Distributing identity in this way allows for different profiles to be
used in different authenticating contexts. New profiles can be created
as required within a single identity metasystem,” EPIC said. Misuse is
therefore limited to the context of the information breached, whether it
is a single bank account, online merchant, or medical records.

Possibilities for data misuse can also be limited at the data collection
stage, EPIC explained. Amassing large databases of credit card numbers
creates an attractive target for potential identity thieves. “One simple
response to identity theft is to require a PIN to be used in conjunction
with all credit cards. An identity metasystem would further reduce the
value of such aggregated database targets, because authenticators would
be separate and distinct from all personally identifiable information,”
EPIC said.

The FTC will hold a workshop, “Proof Positive: New Directions for ID
Authentication,” on April 23 at the Commission’s Satellite Building
Conference Center located at 601 New Jersey Avenue, NW, Washington, D.C.
The event is open to the public and attendance is free. There will not
be pre-registration.

EPIC Comments to the FTC (March 23, 2007) (pdf):

http://www.epic.org/privacy/id_cards/epic_ftc_032307.pdf

Federal Trade Commission Notice Announcing Workshop and Requesting
Comments:

http://www.epic.org/redirect/ftc0407.html

EPIC page on Identity Theft: Causes and Solutions:

http://www.epic.org/privacy/idtheft/

EPIC page on National ID Cards and the REAL ID Act:

http://www.epic.org/privacy/id_cards/

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Posted by reinkefj

TECH SERVICE: JOTT (a Voice Phone Call to email service)

Monday, April 9, 2007

http://jott.com/

Voice Phone Call to email
a public beta

***Begin Quote***

Have you ever …

… felt like you don’t remember things you should? Gifts to buy, a stroke of genius, a song to download, a cab fare?

… wanted to send an email or text message to somebody while in your car (and not take your eye off the road)?

… needed to get a message to a group of people, but couldn’t (or didn’t want to) make a bunch of separate calls.

At Jott, we’re simply trying to give you more access: to your ideas, to people, and more.

We do it using things you trust that are already in your life: an ordinary cell phone and your voice.

To Jott, just make a phone call.

The way we figure it, if Jott gives you time back, let’s you connect or get more done, we’ve done our job.

***End Quote***

I heard about this. Tried it. And thought that it might be very useful to have sometime. While it probably will switch to some non-free mode, it might be “handy” to have in reserve. Especially if it is cheap.

From using real dictation to a steno and things like ViaVoice, I know one can dictate much faster than type. And, in some circumstances all you might have access to is a quick phone call. Given that the input is the basic voice phone call, it could be a real “saving shot at the buzzer” sometime.

FWIW

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Posted by reinkefj

INTERESTING: Some one is “selling” blog to book

Monday, April 9, 2007

http://www.yourblogtobook.com/

Ann McIndoo
Author of So, You Want to Write!
Creator of the Writer’s Power Tools™, Manuscript Grid™ and Author’s Boot Camp.

***Begin Quote***

snipshot117

***End Quote***

I already did it once as a “trial run”.

My Lulu Store
http://stores.lulu.com/store.php?fAcctID=638039

I’ll give you some “free advice”.

It’s easy to turn out a “vanity book”. Making money is a whole different story. Blogging ain’t writing! And, while it is easy to turn your blog into a printed book. (Hey, I did it. You can too. Cheaply and easily.) But it doesn’t “translate” well.

I am astonished that three people bought my “book”. Coulda knocked me over with a feather. If they’d have asked me, I’d have given them one for free. Inscribed it as well. Just goes to show, as ebay demonstrates for Jay Leno, that some people will buy anything.

I did it as a joke on myself. My Mom liked it. But she so old and weak, that she can’t even open it. But, she was tickled with it. (My Number #1 fan).

Yell, or comment, if you have questions. I’ll do my best to give you what I saw doing it.

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Posted by reinkefj

INTERESTING: The Hill of Crosses in Šiauliai, Lithuania,

Monday, April 9, 2007

FROM IMPACT LAB

http://www.impactlab.com/modules.php?name=News&file=article&sid=11183

***begin quote***

The Hill of Crosses in Šiauliai, Lithuania, is at the same time mysterious, sacred, and crazy all wrapped up into one. Here are some amazing photos of this unusual tourist spot.

***end quote***

It’s erie. And, I truly don’t understand.

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Posted by reinkefj

LIBERTY: An indictment of the FDA; your gooferement looking out for you?

Sunday, April 8, 2007

http://www.masternewmedia.org/news/2007/04/07/
pharmaceutical_fraud_prescription_for_disaster.htm

http://tinyurl.com/2awuy9

April 7, 2007
Pharmaceutical Fraud? Prescription for Disaster Documentary
by Robin Good

***Begin Quote***

The following video documentary features contributions of respectful professionals, such as FDA scientist Dr. David J. Graham, who addressed the prescription of Vioxx (a very dangerous drug presently withdrawn from the market) before the US Senate Finance Committee and firmly believes the FDA is “letting people down”.

***End Quote***

Ahh yes, the gooferment is just looking out for … … itself. Its power to reward its friends, punish its enemies, and feather the nests of the anointed.

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Posted by reinkefj

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