MONEY: Gas for a dime a gallon

Sunday, September 11, 2011

http://lewrockwell.com/orig9/watkins-b2.1.1.html

Could the Presidential Election Turn On a Dime?
(Not if the WaPo Banksters Have Their Way)
by Bill Watkins

*** begin quote ***

Really? Now? Where? Congressman Paul explained that a SILVER dime is currently worth over $3.00, which is nearly enough to buy a gallon of petrol in the U.S. You remember those Mercury head dimes, don’t you? What ever happened to those? And, come to think of it, why doesn’t a dime minted in 2011 buy a gallon of gas?

Admittedly, it’s a simple question. And that why it’s so dangerous. This line of thinking simply can’t be allowed to gain traction. It’s crazy talk by Ron Paul who stubbornly clings to a bygone era of monetary policy (including relevant clauses of the Constitution) and who simply doesn’t comprehend the modern wonders of “quantitative easing.” Move along citizens, there’s nothing here to see. Got it?

*** end quote ***

The recent Republican debate had a moment of unprecedented clarity.

“dime a gallon”!!!!

The moderators were falling all over themselves to get off that point.

Why?

Because it would unleash a cornucopia of issues that would put the proverbial metaphorical pin in the propaganda balloon.

Here’s just a few of my observations. (probably obvious to real economists and history students.)

* The “dollar” is a perverse illusion of what it used to be. Systematic inflation robs the workers of the fruit of their labor as surely as if they were robbed at gunpoint. It’s immoral. By not having a connection to anything constant, the theft is by “printing press”.

* The fraud of the “dollar” is “We, The Sheeple” have been trained to think of it as a constant. The North Star of value. That’s like playing football on a field where the yard shrinks between 2 and 20% every year. Great for breaking records. Not too honest. And, certainly not a way to keep score.

* The FED is a cabal of bankers that use the fiat currency to ensure that they keep the power.

* The politicians and bureaucrats like this system real fine. It allows them to spend money. They don’t have to take wealth from the producers in the form of taxes. They get it by the “printing press”!

* A fair news report would report prices in ounces of gold. Or, any fair basket of commodities. Then people would see the “hidden story”. Hard to imagine reporting the price of gasoline, the Dow, and the dollar in terms of ounces of gold.

All from the “dime a gallon” comment.

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MONEY: The risk of bonds when the Gooferment gets “active”

Wednesday, August 31, 2011

http://www.reuters.com/article/2011/08/31/us-usa-obama-housing-idUSTRE77T6DV20110831

White House could unveil mortgage plan next week
By Margaret Chadbourn
WASHINGTON | Wed Aug 31, 2011 6:40am EDT

*** begin quote ***

While mortgage rates have been hovering around record low levels, banks remain stingy with lending although they are sitting on more than $1 trillion in excess reserves. Homeowners without a job or good credit histories have been essentially shut out of the refinancing process.

Some investors say the economic benefit of a government-encouraged refinancing wave would be minimal.

“It’s a political hail Mary. It’s unclear why they want to throw a monkey wrench into a $5 trillion market,” said John Kerschner, head of securitized products at Janus Capital Group in Denver. He said the net benefits for the economy are negligible, perhaps adding $20 billion to $30 billion “at best” to the U.S. economy.

*** end quote ***

Old King Canute, aka BHO44, is trying to pick winners and losers again.

The Gooferment has nothing. All it can do is move “stuff” around. The “poor homeowners” are going to be the “winners” and the “rich bondholders” will be the losers.

In actuality, the winners are the politicians and bureaucrats. They will be rewarded by the lobbyists and the voters.

Aren’t these the same “bad assets” that we bought, or were supposed to buy, under one of the many TARPs?

Sorry, but wishing doesn’t make it so.

Any wonder why I’m a Gold Bug? Told you not to get caught in the bear trap (i.e., move to the “safety” of bonds from “risky” stocks”).

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MONEY: Stealing from the poor and working class

Tuesday, August 30, 2011

http://www.wnd.com/index.php?fa=PAGE.view&pageId=339129#ixzz1WWLEj7y4

Kudos to Perry and Paul
Pat Buchanan
Posted: August 29, 2011

*** begin quote ***

What should be done to high officials of the U.S. government who consciously set out to dilute and destroy the savings and income of working Americans? What should be done to those who have sworn an oath to defend the Constitution and then steal the wealth of citizens by secretly manipulating the value of the currency, the store of wealth upon which those people depend?

*** end quote ***

An excellent question?

Linkage of the dollar to gold would prevent this. That’s Ron Paul’s attack on the FED and out of control Gooferment spending.

Think it’ll ever happen?

The politicians and bureaucrats will fight tooth and nail to keep their unlimited checkbook.

Maybe the Chinese will help us out?

After all one can print money, but you can’t print wealth.

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MONEY: Interesting approach to a niche way to save

Monday, August 29, 2011

http://www.getrichslowly.org/blog/2011/08/21/reader-story-geographic-arbitrage-in-real-life/

Reader Story: Geographic Arbitrage in Real Life
Sunday, 21st August 2011 (by J.D. Roth)

*** begin quote ***

You can save money by traveling to a place where a given item is cheaper to buy, but time and travel costs need to be considered which may negate any savings. But because I travel regularly, usually by car, to visit family members (mine and spouse’s), I’m able to take advantage of pricing differences between my home area and theirs.

Though it may sound like it, I’m not exploiting overall cost of living differences in the sense that it’s generally cheaper to live in Tennessee than in California. This is an item-specific phenomenon, so it works for me when I visit family members, and it works for them (on different items) when they visit me. Below are some examples of how this has helped me save money.

*** end quote ***

I don’t travel that much.

Yet!

Perhaps there’s a interest in this strategy.

The only time I ever did anything like this was bringing home cheap butts for the in-laws.

That was before instituting my Zen-like policy of “I don’t have anything to do cigarettes”. Part of “walking gently on the earth”.

:-)

Sigh!

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MONEY: Savings Bonds?

Saturday, August 27, 2011

http://www.nytimes.com/2011/08/19/opinion/save-the-savings-bond.html

OP-ED CONTRIBUTOR
Save the Savings Bond
By FRED T. GOLDBERG Jr. and PETER TUFANO
Published: August 18, 2011

*** begin quote ***

FOR generations of children, the idea of saving first became real when a savings bond landed in a birthday or holiday card, the image of a famous American staring out from the elaborate, earth-tone etching on a stately certificate. These fond memories may explain why this year nearly 50,000 Americans — the vast majority of them modest wage-earners — decided, under a new I.R.S. policy, to buy savings bonds with a portion of their precious tax refunds.

*** end quote ***

sorry but if I was buing for a youth, I’d buy a bullion coin.

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MONEY: Pensions will be at risk

Tuesday, August 23, 2011

http://www.mercurynews.com/california-budget/ci_18716703?nclick_check=1

Teacher pension fund joins California auditor’s risk list
Associated Press
Posted: 08/19/2011 09:17:05 AM PDT
Updated: 08/19/2011 09:20:58 AM PDT

*** begin quote ***

SACRAMENTO — The state auditor’s office on Thursday added teacher pensions to the list of high-risk issues facing California government.

The report by State Auditor Elaine Howle added the nation’s largest teacher pension fund because it can’t meet the costs of retirement benefits beyond the next 30 years. The pension funding problem was added to a list of risks that includes California’s chronic budget deficit, unfunded retiree health costs and prison crowding.

*** end quote ***

Unfunded liabilities are not just for the Federal Gooferment.

Just like the Delta pilots, everyone is going to take a haircut.

The only question is how much will be taken …

… by the corrupt politicians.

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MONEY: Home mortgage interest deduction

Tuesday, August 23, 2011

http://reason.org/news/show/eliminate-mortgage-interest-deducti

Study: Time to Eliminate the Mortgage Interest Deduction
Removing homeowner subsidies would allow everyone’s income tax rates to be lowered
July 28, 2011

*** begin quote ***

The mortgage interest deduction does not increase homeownership rates and amounts to little more than a subsidy for wealthy homeowners, according to a new Reason Foundation study that recommends eliminating the deduction and streamlining the tax code. The Reason Foundation report suggests a revenue-neutral solution: eliminate the mortgage interest deduction and lower federal income tax rates for all Americans by 8 percent.

*** end quote ***

Seems like the time for deductions and such are past.

Tithe seems like more than enough for God; should be more than enough for Gooferment.

Flat 10%?

Now I think that all taxation is theft.

Hopefully, the absurdity of all of this will swing you to my way of thinking.

Time to get the Gooferment out of all our business.

The Dead Old White Guys thought that tariffs and excise taxes would be enough.

They were wrong. It’s never ever enough. For the pigs.

If we want a product or service, we should buy it. Gooferment is just another product.

Money is a product as well.

Gold is the answer to keeping the Gooferment under control. No hidden taxes.

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MONEY: The FED screws us up

Tuesday, August 9, 2011

http://www.nationalreview.com/kudlows-money-politics/274153/bernanke-rescue

Bernanke to the Rescue
August 9, 2011 5:28 P.M.
By Larry Kudlow

*** begin quote ***

Damn the torpedoes! Up periscope! Full speed ahead! Ben Bernanke and the Fed to the rescue!

In a startling move Tuesday, the FOMC announced that its zero-interest-rate target would be extended for two more years through the middle of 2013, marking the first time the target rate has ever been pegged to a date certain.

*** end quote ***

Absurd!

The FED is the problem.

Let the market operate and reset the prices to value. Will folks take a hair cut? Yup. But remember Japan’s lost decade. How’s that working out for them? Want that here? Just let the Gooferment muck about with no plan!

Argh!

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MONEY: 10 reasons not to use credit cards

Saturday, August 6, 2011

http://www.smartmoney.com/spend/family-money/10-reasons-im-cancelling-my-credit-cards-1310065287880

*** begin quote ***

10. Cash helps people I want to help. The money goes to the merchant and his suppliers. When I go into my local credit union to cash a check, I’m keeping a couple of local tellers in work. Credit cards? I’m helping finance bank executives, marketing teams and call centers in India. I am sure they are all fine people, and I wish them well. But if I had to choose, and I do, I would rather help my local merchants and credit union staff.

*** end quote ***

Interesting take on the value of using cash.

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MONEY: What would happen if you …

Friday, July 29, 2011

http://www.getrichslowly.org/blog/2011/07/24/reader-story-estate-planning-the-first-month/

Sunday, 24th July 2011 (by J.D. Roth)
Reader Story: Estate Planning – The First Month
This guest post from Jeffrey G. is part of the “reader stories” feature at Get Rich Slowly.

*** begin quote ***

What would happen if you, your spouse, a parent, someone who you shared a financial life with died today? Not next week after the car payment is sent in. Not next month when you’ve finally gotten around to writing down all of your passwords and account numbers. Not next year when you’ve updated your will. What would happen if they died today?

*** end quote ***

Clearly, you need an emergency fund for the year after the death of a spouse. Depending upon how into the spouse you were.

Wonder how long it takes to return to “normal”?

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