MONEY: The Gooferment maintains a playing filed that tilts in favor of employers over workers

OCTOBER 6, 2021 9:11AM
New Cato/​YouGov Survey on Health Savings Accounts
By Michael F. Cannon

*** begin quote ***

Many call the “tax exclusion” for employer‐​paid health insurance premiums a tax “break.” In fact, it denies workers control over an enormous share of their earnings. It coerces workers into letting employers control roughly $1 trillion of their earnings each year as well as their health insurance. Along the way, it leaves workers vulnerable to losing coverage when they change jobs, divorce, or retire. 

*** end quote ***

Thanks to the market distortion introduced by FDR’s WW2 wage and price controls, “benefits” for employees were a way that employers could “pay” employees more without running afoul of the “law”.  

Back in the Seventies, leave at night in an AT&T datacenter watching accounting programs run, a wise old AT&T Treasury executive opened my eyes to how unfair that “benefits” were to me.  I didn’t realize that the “benefits” were more valuable to AT&T than to me.  Every benefits “expense” was a tax deduction to AT&T.  As well, all those “expenses” were added into the “rate base” used in front of the FCC and various PUCs to justify higher regulated rates.  The old exec pointed out that I was “paying” for the benefits in salary reductions.  And, the wicked kicker was that if I left my “servitude” I’d lose most and in some cases all of those “benefits”. Argh!

Now decades later, the USA has evolved to realize that while you don’t lose your car insurance if you change jobs, you do lose your “health insurance”.  (Don’t make me laugh about COBRA; who can afford those rates?)

OK, so you decide to get your own “health insurance”, and you find that expense is not tax deductible to you as an employee that has “benefits” with your master.  I meant employer.

If you have a niche that permits you, then you can become a “corporation” and the premiums for all your employees is deductible.  Just don’t have any other “employees” and you have found a loophole.  Of course, there are setup and ongoing expense to “being a corporation” but it’s no where near as much as you think.

Bottom line: The tax code needs to change to allow you to deduct your private health care insurance.  What’s good for the employer should be good for the worker!


MONEY: Inflation 101

Peter Schiff: Government Serves Grade-A B.S. On Inflation
TUESDAY, OCT 05, 2021 – 01:35 PM

*** begin quote ***

In fact, there is always a shortage of supply. We don’t have unlimited stuff. So, we have to ration supply with prices. The more money we have in circulation, the higher the prices have to climb in order to ration the supply. You have more dollars chasing the same amount of stuff. This is inflation 101.

*** end quote ***

MONEY: End the FED, Freddie, Fannie, and all the GSEs

The Fed Is Helping Facilitate Trailer Park Evictions
WEDNESDAY, SEP 08, 2021 – 09:01 AM
Authored by Michael Maharrey via,

*** begin quote ***

The Federal Reserve is helping corporate real estate investors evict poor people from mobile home parks.

NPR highlighted the growing number of mobile home part evictions. According to the report, real estate investors continue to buy up mobile home parks across the US. They then raise lot rents and fees, and evict residents who can’t pay.

As the report explains, the government makes this scheme possible with easy financing through agencies such as Fannie Mae and Freddie Mac. Here’s how it works in a nutshell.

A company raises rates and fees in a park. That makes the park more valuable. So they can now borrow more money against it, kind of like when you refi your house and get cash out of the deal. They pull out, say, $3 million, and they use that to go buy another mobile home park. And then they do that again and again. It’s a cascade of borrowed money. And often, these loans are backed by the US government. They provide very, very low-cost debt for these investors to get enough cash out to go buy additional parks. The loans have super cheap interest rates because they’re guaranteed by Fannie Mae and Freddie Mac, the government-backed entities at the heart of the US mortgage market.”
NPR gets part of the story right. In fact, it’s pretty impressive that they didn’t just pin the blame on “greedy capitalists.”

Nevertheless, the story completely misses the biggest player in this game – the Federal Reserve.

*** and ***

This is yet another way the Fed distorts the economy, drives misallocations of resources, transfers wealth from the poor to the rich, and generally wreaks havoc.

*** end quote ***

OK, the problem was identified by Ron Paul decades ago in his Presidential campaign. 

Does anyone want to address the problem?

“Penny candy” is an example of the inflation of the US$.



MONEY: Injury from a “vaccine” might be devastating financially

COVID Vaccine Deaths and Injuries Are Secretly Buried
Analysis by Dr. Joseph Mercola 
July 01, 2021

*** begin quote ***

  • Reports of deaths and serious injuries from the COVID-19 jabs mount by the day. As of June 11, 2021, the U.S. Vaccine Adverse Events Reporting System (VAERS) had posted 358,379 adverse events, including 5,993 deaths and 29,871 serious injuries
  • In the European Union’s database of adverse drug reactions from COVID shots, called EudraVigilance, there were 1,509,266 reported injuries, including 15,472 deaths as of June 19, 2021. EudraVigilance only accepts reports from EU members, so it covers only 27 countries. Remarkably, about HALF of all reported injuries — 753,657 — are listed as “serious”
  • The British Yellow Card system had, as of June 9, 2021, received 276,867 adverse event reports following COVID “vaccination,” including 1,332 deaths
  • Before you make the decision to participate in this unprecedented health experiment, it may be wise to assess your personal insurance and financial ability to handle a serious injury, as pandemic vaccine manufacturers are indemnified against lawsuits
  • If you are injured by a COVID shot and live in the U.S., your only recourse is to apply for compensation from the Countermeasures Injury Compensation Act (CICP). Payouts are rare, cover only lost wages and unpaid medical bills, cannot be appealed, are capped around $370,000 for death, and require you to exhaust your private insurance before kicking in

*** end quote ***

That last point is devastating financially.

So Big Pharma gets all the profits and some random poor shlub “wins” a negative lottery!

That doesn’t seem very fair.

Time to release this “payoff” to Big Pharma for their campaign contributions.



MONEY: Inflation deception — what goes up; never ever comes down

Is Inflation “Transitory”? Here’s Your Simple Test
THURSDAY, JUN 17, 2021 – 09:50 AM
Authored by Charles Hugh Smith via OfTwoMinds blog,

*** begin quote ***

Is inflation “transitory” in your household budget? Really? Where?

The Federal Reserve has been bleating that inflation is “transitory”–but what about the real world that we live in, as opposed to the abstract funhouse of rigged statistics? Here’s a simple test to help you decide if inflation is “transitory” in the real world.

Let’s start with some simple stipulations: price is price, there are no tricks like hedonics or substitution. Nobody cares if the truck stereo is better than it was 40 years ago, the price of the truck is the price we pay today, and that’s all that matters.

(Funny, the funhouse statistical adjustments never consider that appliances that used to last 30 years now break down and are junked after 3 years–if we adjusted for that, the $500 washer would be tagged at $5,000 today because it has lost 90% of its durability over the past 30 years.)

*** end quote ***

My readers, acquaintances, friends, and anyone who will listen to me is probably tired of hearing me whine about “penny candy”, “three silver dimes for a 1965 gallon of gas”, “my long gone father-in-law’s fifty dollar bill”, and “the dollar losing 99% of its purchasing power in 50 years”.

I don’t know how else to make “We, The Sheeple” realize that the politicians are robbing us blind.


All I can say is save your nickels; at least they have some intrinsic value.


MONEY: “everybody is rich”

When Hitler Finds Out The Accelerating Inflation Is Not Transitory
EconomicPolicyJournal.comby Robert Wenzel

# – # – # – # – #

Short video about “everyone is rich”!


MONEY: Currency Devaluation?

TUESDAY, MAY 4, 2021
This is How Bad Currency Devaluations Can Really Get

*** begin quote ***

Re how vicious currency devaluations can be for many people, I heard an interesting anecdote today in a podcast about a young man who escaped the horrors of North Korea. He described in excruciating detail the various ways that the communist regime savaged the common man/woman there.

Almost in passing, the young man mentioned “did you hear about the currency devaluation that occurred in North Korea in 2010.” (It caused him to be homeless again.) He said that it, “killed thousands of people because the money that people had been saving became worthless.”

He added, “a lot of our neighbors committed suicide. It was like one day they had something and another day they have nothing. And they have no hope of living.”

*** end quote ***

Once upon a time, before I was old enough to get a job that paid real money, I had the childhood dream that “Monopoly money would become REAL money.”  Sigh, the child’s fantasies, have sort of become true.  The “REAL” money of my youth has become almost as worthless as Monopoly money.

The dollar of the 1960’s has lost NINETY SOMETHING per cent of it’s purchasing power.

Using the “penny candy” standard, it’s a 100%.

Using the “quarter a gallon of gas” standard, (a silver quarter is worth about five 2021’s “dollars”; 5 2021’s “dollars will buy you 2.78 gallons; a 2021 quarter “slug” will buy you  about 0.14 of a gallon; that about 0.05 of value) it’s about 95%.

Using the “Kendall Park ranch house” standard, (a 35k$ house now sells for about 325k$; or about 9 times it’s nominal value) it’s about 92%.

Pick the number you like best to describe the “devaluation”!

The Gooferment might as well devalue. “We, The Sheeple” are already screwed.


MONEY: Hidden inflation

Costco paper towels: Now with 20 fewer sheets per roll
5/1/2021, 10:29:18 PM · by dynachrome · 30 repliesredflagdeals ^ | 4-26-21 | frozatio
Costco paper towels. Same price as the previous several times buying them. Now with 20 fewer sheets. 140/160= .875 Inflation rate: 8.75% Find the old rolls in store with 160 sheets and it’s effectively like buying the new sheets at 8.75% off!

# – # – # – # – #

Here’s an example of inflation being hidden!


MONEY: Penny candy and other economic lessons

Peter Schiff With Tucker Carlson: Inflation Is a Painful Tax

*** begin quote ***

We’re told inflation isn’t a problem. But a quick trip out to the grocery store or to fill up your car with gas tells you otherwise. Prices are going up. Peter Schiff recently appeared on Tucker Carlson’s show to talk about inflation. He said the price of everything is going up and the value of everything is going down.

It’s clear that prices are rising.

*** end quote ***

I’m tired of ranting about inflation. 

Just do a search on the blog for “three silver dimes” and you’ll see some of my best examples (i.e., the Roman’s cloak, penny candy, 1968 gas prices).

It all comes down to the politicians and bureaucrats having an incentive for silent taxes.  If some Gooferment goon came in every year and seized 2% of your wealth (i.e., 2/100ths of your house), then you’d understand.

I don’t know what I can write that will make the point of inflation is due to the FED. (The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.)

Sure the rich, the elite, politicians, and bureaucrats love inflation.

It’s a racket.

“It’s a big club, and you ain’t in it! You, and I, are not in the big club.” — George Carlin


MONEY: MMT is the “voodoo economics” of 21st century

Modern Monetary Theory Is Wrong: Inflation Is Coming
By Dr. Michael Busler, Ph.D.Friday, 19 March 2021 12:59 PMCurrent | Bio | Archive

*** begin quote ***
Many economists and much of the public are beginning to worry about the massive increase in the money supply and the massive increase in deficit spending. With a public debt approaching $30 trillion and a money supply that has increased by 25% in the last two years, the worry seems justified. However, Modern Monetary Theory (MMT) says we have nothing to worry about.

MMT says that since the US uses a currency that is not backed by anything other than faith in the government, more money can always be printed to pay off the debt. And the increase in the money supply will not necessarily lead to inflation.

*** end quote ***

I don’t understand how more “dollars” in circulation chasing a relatively fixed amount of goods and services can NOT Lead to higher consumer prices.

The only one who benefits from inflation is the Gooferment.

The poor, the retired, those on fixed income, bondholders, and the middle class are getting screwed.


MONEY: China is a “financual” enemy

China Is Killing The Dollar
by Tyler Durden
Fri, 09/18/2020 – 23:40
Authored by Alasdair Macleod via

*** begin quote ***

In the wake of the Fed’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of importing industrial materials to a more aggressive stance. In examining the rationale behind this move, this article concludes that while there are sound geopolitical reasons behind it the monetary effect will be to drive down the dollar’s purchasing power, and that this is already happening.

More recently, a veiled threat has emerged that China could dump all her US Treasury and agency bonds if the relationship with America deteriorates further. This appears to be a cover for China to reduce her dollar exposure more aggressively. The consequences are a primal threat to the Fed’s policy of escalating monetary policy while maintaining the dollar’s status in the foreign exchanges.

*** end quote ***

It would seem that the USA politicians and bureaucrats are playing into the Chinese’s hands.  And, giving them the “club” to beat the USA to a pulp!


MONEY: The End of COMEX Paper Gold?

Market Friday: Is This the End of COMEX Paper Gold?
Date: August 14, 2020 — Author: Tom Luongo

*** begin quote ***

And now, the question on a lot of people’s minds is whether we’ll see the end of the fiction of the paper gold market as epitomized by the futures market on the COMEX.

*** and ***

The fiction of a gold-settled futures contract keeps the fiction that supply and demand for gold are in balance at these prices. But are they really? If so then gold wouldn’t be hoarded the way it is. Gresham’s Law would reverse and gold would move into the market at a much higher clearing price.

*** and ***

That, to me, is what is so very important about what is happening now. Because that begs the question, cui bono?

Who benefits from breaking the price control system of the fake, paper gold market?

Once you sort through the answer to that, China and Russia, then what’s been happening in gold and silver should make a whole lot more sense.

And why gold seems to have decoupled not only from the COMEX but gyrations in the U.S. dollar.

*** end quote ***

And, that girls and boys is the end of a lot of things — FED policy driving the Stock Market, the ability to have a debt laden society to support itself, and the USA’s empire.  How far “we” fall is yet to be seen.  Study the rise and fall of ALL empires and distill the common factors — debasement of its currency and fall in “civic morality”.

So sad.  Glad I’m not going to be here to see it happen, but I believe it will.

Save your nickels!


MONEY: Always keep your nickels!

Mnuchin Begs For Coins Amid Shortage; Avoid Depositing These Pennies
by Tyler Durden — Thu, 08/13/2020 – 05:30

*** begin quote ***

According to, pennies from 1909-1982 are approximately 95% copper and have a metal value of about $0.0185. In this instance, once could almost double their money if they took these pennies to a scrapper than the bank. Here’s the complete list of what coins are worth in terms of face value versus metal value.

*** end quote *** 

Pretty bad when the “valueless coins” take on more value for the underlying metal.



MONEY: The Government’s Greatest Con Job – The Daily Reckoning

The 1928 note bears this inscription:“Redeemable in gold on demand at the United States Treasury or in gold or lawful money at any Federal Reserve Bank.”But reads the 1950 version:“This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury, or at any Federal Reserve Bank.”The fine print disguises a vast swindle: The gold provision was stricken from the record.

Source: The Government’s Greatest Con Job – The Daily Reckoning

# – # – # – # – #

“We, The Sheeple” was robbed and they don’t even know it.  What’s worse is they probably don’t even care.


— 30 —

MONEY: Thoughts on Bob Murphy’s “Infinite Banking Concept”


Ep. 1326 How to Secede From Our Monetary Regime
22nd January 2019 — Tom Woods

*** begin quote *** 
Frequent guest Bob Murphy returns, this time talking about his new (co-authored) book, The Case for IBC. This is an acronym for “Infinite Banking Concept,” a strategy that uses properly designed whole life insurance policies as a way to “become your own banker.” The concept was developed by Nelson Nash, who besides working in insurance was personally tutored in Austrian theory by Leonard Read himself. Bob explains how the average person can benefit from IBC, and he answers common objections like “Isn’t it better to buy term and invest the difference?” and “Why would I put my money in life insurance when the dollar is going to crash?”

*** end quote ***

My initial thought:

I (humbly) suggest another reason for the IBC concept. One can only by insurance when reasonable healthy. I had a young 30 something coworker who became uninsurable after surviving a bout with cancer. In his case, buying a whole life policy, when he was younger and healthier, would have given his family the death benefit protection. He died in his 50’s. So I’d suggest the IBC concept would avoid the “insurability” problem should it arise. Buying any insurance may not be possible later in life. Am I missing something here?
To which Bob responded:

BobMurphy9  ferdinand reinke • 7 days ago
You’re right. That has to do with the “buy term and invest the difference” canard. I think on the episode I contrasted the jump in premiums if you wanted to renew your term policy, but yeah, if you develop a condition in the meantime, you might be uninsurable.

Now upon reflection on “buy term and invest the difference”:

Based on my own personality, and that of many other “spendthrifts” I see around me, I think there are two types of people — spenders and savers.  My now deceased wife grew up poor, was scared for life, and was a prodigious saver.  My maternal grandmother and my mother grew up in the Depression and also were prodigious savers.  I, OTOH, am a “spender”; maybe even a “spendthrift”, who never cared about delaying gratification.  I can identify others who fall into one of those two categories. 

Now with that in mind, considering the “buy term and invest the difference” canard, imho, “savers” can do that easily, but “spenders” can’t.  So for spenders, whole life insurance and the IBC concept makes a lot of sense.  All though, I’m not quite sure how one in their “earning days” could get on it or into it.  

Unlike savings in a CD ladder (, which my wife loved, entry and exit was easy.  In today’s Fed-driven insane zero interest rate climate, the CD ladder makes no sense.

Hope this is of interest and helps someone further back on the road of life.  As I like to say, “if I knew then what I know now, my life would be completely different”.  Not sure it would be better or worse; just different. Unfortunately, in life, one can not just “rewind time” and choose differently.  It doesn’t work that way.  And one can’t even say a choice was “wrong”, since you made the choice at the time with feelings, imperfect information, and outlooks that structured your decision.  All you can say is that the results were what they are.  

Even “bad” results are how we are viewing the results in the eyes of the Monday Morning Quarterback. Shoulda, coulda, and woulda!  An alternative future history.  What might have been?  You can drive yourself crazy and make yourself sad about “missed opportunities”, “missed loves”, and “bad mistakes”.  

*** begin quote ***

And now, the end is near
And so I face the final curtain
My friend, I’ll say it clear
I’ll state my case, of which I’m certain
I’ve lived a life that’s full
I traveled each and every highway
And more, much more than this, I did it my way

Regrets, I’ve had a few
But then again, too few to mention
I did what I had to do and saw it through without exemption
I planned each charted course, each careful step along the byway
And more, much more than this, I did it my way

{Extraneous Deleted}

The record shows I took the blows and did it my way
Yes, it was my way

*** end quote ***

“You don’t have to pay tuition for every lesson. You can learn from other people’s mistakes!” — Unknown

# – # – # – # – # 2019-Jan-31 @ 06:59

MONEY: Another use for life insurance?


Ep. 1326 How to Secede From Our Monetary Regime
22nd January 2019 — Tom Woods 

*** begin quote ***

Frequent guest Bob Murphy returns, this time talking about his new (co-authored) book, The Case for IBC. This is an acronym for “Infinite Banking Concept,” a strategy that uses properly designed whole life insurance policies as a way to “become your own banker.” The concept was developed by Nelson Nash, who besides working in insurance was personally tutored in Austrian theory by Leonard Read himself. Bob explains how the average person can benefit from IBC, and he answers common objections like “Isn’t it better to buy term and invest the difference?” and “Why would I put my money in life insurance when the dollar is going to crash?”

*** end quote ***

I understand the IBC; not sure I “grok” it. By that, I mean get it and apply to my life or my memes.

I (humbly) suggest another positive reason for the IBC concept that was not mentioned in the podcast. One can only by insurance when reasonable healthy. I had a young 30 something coworker who became uninsurable after surviving a bout with cancer. In his case, buying a whole life policy, when he was younger and healthier, would have given his family the death benefit protection. He died in his 50’s. So I’d suggest the IBC concept would avoid the “insurability” problem should it arise. Buying any insurance may not be possible later in life.

Am I missing something here?

# – # – # – # – # 2019-Jan-24 @ 10:46

MONEY: In The Early 1980s, The U.S. Gaming Industry Lobbied For?

The game industry’s quest for a new coin to ensure profits in a niche market wasn’t the first time an organization or company had lobbied for a coin specifically designed to help them profit. In the 1950s, Coca-Cola lobbied the U.S. Treasury Department to begin minting a 7.5 cent coin so that consumers could continue to use a single coin to buy a bottle of Coke—Coca-Cola had been 5 cents a bottle since the 1880s, but the fixed price was eating into Coke’s profits. Their attempt, like the game industry’s, was unsuccessful.

Source: In The Early 1980s, The U.S. Gaming Industry Lobbied For?

# – # – #

Anyone else not “see” the cost of the FED’s inflation?

“Penny” candy?  Quarter gasoline?  Any comodity or service?


— 30 —

MONEY: Virginia repeals sales taxes on money

Now in Effect: Virginia Law Takes First Step to Support Sound Money

*** begin quote ***

RICHMOND, Va. (Jan. 7, 2018) –  On Jan. 1, a Virginia law that repeals sales taxes from some purchases of gold and silver went into effect. It represents an important first step toward encouraging its regular use as currency and breaking the Federal Reserve’s monopoly on money.

A bipartisan coalition of delegates and senators sponsored House Bill 1668 (HB1668) and Senate Bill 934 (SB934). The legislation exempts gold, silver, and platinum bullion or legal tender coins whose sales price exceeds $1,000 from state sales tax. Each piece of gold, silver, or platinum or legal tender coin need not exceed $1,000, provided that the sales price of one entire transaction of such pieces exceeds $1,000. With gold over $1,000 an ounce, a single bullion coin will exceed this threshold.

Under the new law, the exemption will remain in place until June 30, 2022.

*** end quote ***

This seems to be the first step to “killing” the Fed.

It’s a backdoor way but who cares how we can do it. Just that we do!

# – # – # – # – #

MONEY: Bitcoin “Not Backed”; so what “backs” FRNs?

Friday, December 01, 2017

Fed Official Decries Bitcoin as “Not Backed”
Bitcoin is backed by the use value of the distributed ledger in the underlying technology of the Blockchain.
by  Jeffrey A. Tucker

*** begin quote ***

Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system.

To reiterate, an official speaking for the nation’s central bank that manages the global reserve currency – the institution that has long bragged about its power to bail out the entire world with the magic powers of the alchemist – has put down Bitcoin for being untrustworthy, unbacked, and unsound.

*** end quote ***

Will someone please tell me what is backing up the current Federal Reserve Notes that pass for “money” today?

I can’t believe the hubris of some people.

The Federal Reserve Note, since 1970, has lost 99.99% of its value. There maybe even some 9’s at the end of that percentage.

I’m just shaking me head at this “attack” on bitcoin.

I’m speechless.

You should be too.

Save your nickels! It’s only thing worth anything — it still has some silver content. For now!


# – # – # – # – # 

MONEY: Printed “money” doesn’t represent real wealth

Posted on November 17, 2017 by Egon von Greyerz

*** begin quote ***


Total US debt in 1913 was $39 billion. Today it is $70 trillion, up 1,800X. But that only tells part of the story. There were virtually no unfunded liabilities in 1913. Today they are $130 trillion. So adding the $70 trillion debt to the unfunded liabilities gives a total liability of $200 trillion.

In 1913 US debt to GDP was 150%. Today, including unfunded liabilities, the figure becomes almost 1,000%. This is the burden that ordinary Americans are responsible for a burden that will break the US people and the US economy as well as the dollar. 

Whilst ordinary people have been landed with liabilities that they can never repay, the bankers and the 1% elite has profitably (ab)used the leverage that the debt expansion has created and thus amassed massive fortunes.

That is why we are seeing this enormous inequality in wealth. Ordinary people have not yet realised that they are liable for this debt. They will of course never repay it, nor will anyone else. Governments will try to solve the problem by printing even more money, thus exacerbating the problem. Eventually this will lead to high inflation turning to hyperinflation with interest rates going to at least 15-20% but probably higher. At that point central banks have lost total control of their interest rate manipulation.

The world will then discover that this time the money printing will have no effect as manufactured money can never create wealth.

*** end quote ***

When you look at the absolute dollars of debt and liabilities, it’s absolutely terrifying.

I’m glad I’m old and won’t see the crash. It’s going to make the Great Depression look like just a very bad day.

Clearly the debt will be repudiated by inflation, defaults, and unilateral abrogation of contracts. Clearly mere “understandings” (i.e., social security; Gooferment pensions; State Gooferment “constitutional” provisions, “promises”) will be “cannon fodder”.

I feel sorry for future generations.

# – # – # – # – # 

MONEY: “Public” pensions should be under scrutiny by both taxpayers and potential recipients

*** begin quote ***

Great article out of Zero Hedge today covering the current pension crisis in America. If you’ve listened to this show for any length of time, you know the public pension system is wrecked. But this article really went into detail about how it all might shape out in the end. Let’s just say it’s not a rosy picture. Like Mauldin says, “There are no good choices anymore.”

*** end quote ***

An excellent point that BOTH taxpayers and those future “public” pension recipients should be very skeptical and demanding that the politicians and bureaucrats be accountable.

Political promises are worth the paper that they are printed on. (Hint: It’s all oral.)

Forewarned is fore armed.

# – # – # – # – # 

MONEY: Can the PBGC go broke?

Pension Benefit Guarantee Corporation Running Out Of Cash, Millions Affected
by Tyler Durden Mar 3, 2017 5:08 PM

*** begin quote ***

The Pension Benefit Guarantee Corporation (PBGC), an entity created to “guarantee” pensions of private corporations, is on the verge of bankruptcy.
Teamsters and other unions are poised to take huge pension hits. Previously, airline employees have taken a hit.

*** end quote ***

Can the Gooferment ever run out of the money it prints?

But that being said this is one of those “unfunded liabilities” in that “the current 18T+ national debt and the guesstimated 200T+ in unfunded liabilities that our posterity will have to deal with” that I grouse about.

Now unless the life span of fat old white guy injineers magically increases, I won’t be around for when the crushing debt and defaults hit. 

Personally, I think the Gooferment politicians and bureaucrats will just inflate the debt away and there goes any savings denominated in dollars. 

# – # – # – # – # 

MONEY: Socialism’s achilles heel

The Secret, Dangerous World of Venezuelan Bitcoin Mining
How cryptocurrency is turning socialism against itself
Jim Epstein from the January 2017 issue

*** begin quote ***

Four years ago, Alberto’s career prospects were bleak. The 23-year-old Venezuelan had just graduated from college with a degree in computer science, but his nation’s economy was already shredded by 13 years of socialism.

“There were job opportunities, but they paid like $20 a month, and we were used to traveling and buying things from abroad so we couldn’t settle for that,” his friend Luis recalls. Alberto and Luis—whose names have been changed for their own safety—teamed up to start a clothing business, but the venture floundered.

Then Alberto discovered bitcoin mining.

*** and ***

But the main factor driving Venezuelans to take up bitcoin mining is a price control put in place by the socialist government: Electricity is virtually free.

Bitcoin mining requires a lot of computer processing power, which in turn requires a lot of electricity. In most of the world, utility bills eat into the cost of mining. In places where energy prices are high, it can even be a losing proposition. But in Venezuela, the government has turned bitcoin mining into something akin to owning a home mint.

*** end quote ***

Guess the Gooferment there never figure this one out!

# – # – # – # – # 

MONEY: And “We, The Sheeple” are the victims

Inflation – The Simple Explanation is Theft
Posted on October 7, 2016 by Gary Christenson

*** begin quote ***

Inflation is a form of theft. Keynes understood it nearly a century ago when he said, “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

*** end quote ***

I’m so TIRED of the sheeple not recognizing it.

So, what to do?

Stop using Federal Reserve Notes.

Barter, trade, save your nickels, save in gold or silver.

And, don’t let ANY politician tell you that things are just great.

They are using the Federal Reserve System to silently rob EVERYONE who holds a Federal Reserve Note. 

The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

# – # – # – # – #