MONEY: A different funds transfer network?

Saturday, December 11, 2010

http://www.lewrockwell.com/orig11/rounds5.1.1.html

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The transfer of money via a hawala banking system is extremely private and is unlikely to be reported or discovered by anyone other than the hawaladar, the transferor and the tranferee. In a world where bank privacy is increasingly hard to find, this is a welcome feature of hawala banking. In the hawala system, hawaladars are the brokers or facilitators of the transaction. This transactional privacy has made hawala banking an evil villain for enemies of personal privacy and financial privacy. False and exaggerated allegations of money laundering and terrorism funding through hawala money transfers and hawala transactions have incorrectly characterized the hawala network while hawala banking is actually the most efficient and ancient of all money-transferring systems.

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Would seem that “the privacy invading aardvarks want to stick their nose in everyone else’s business” would be upset.

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MONEY: Should I write the “fat old white guy injineer’s guide to money”?

Friday, December 10, 2010

http://www.getrichslowly.org/blog/2010/12/05/reader-story-making-the-move-to-semi-retirement/

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On 31 December 2009, I finished what I hope will be my last full-time, permanent job. I’ve worked a bit here and there over the past year, but it’s on my own terms, and not because I have to. I’m now semi-retired at the age of 45. But what does that mean?

About nine years ago, after reading Your Money or Your Life, I changed from an under-earning, confused woman to a woman with a mission: to never have to work again (unless I wanted to). In November of last year, I reached the Crossover Point, where the income from investments exceeded my expenses. (I think it actually happened sooner than that, but I hadn’t been paying attention.) At last, nine years after first figuring out what I wanted to work hard and save money for, I’d reached Financial Independence.

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Interesting. Wish I could have done it. Sigh.

Guess I should have read that book.

Bout the only thing I can remember doing right was matching car loan to car savings plan.

https://reinkefaceslife.com/2006/05/07/muny-the-majority-of-auto-loans-are-now-five-years-or-longer/

I think I’ve made most of the mistakes. Wonder if I should write the “fat old white guy injineer’s guide to money”?

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POLITICAL: Can’t even print money correctly!

Monday, December 6, 2010

http://www.cnbc.com/id/40521684

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But the production process is so complex, it has instead foiled the government printers tasked with producing billions of the new notes.

An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face.

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I thought that now bankrupt New York State Off Track Betting (a Gooferment gambling operation) was the “best” example of Gooferment operational expertise. But here we have the Gooferment can’t even print money profitably. No one noticed that a grazillion bucks was NG? No one tested this great idea. And, of course, no one will suffer for this stupidity. No one except the taxpayer that is. Argh!

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MONEY: Rage at the dying of the … … penny!

Wednesday, November 24, 2010

http://cafehayek.com/2010/11/uncommon-cents.html

Uncommon cents

by RUSS ROBERTS on NOVEMBER 17, 2010

in MONETARY POLICY

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The penny is almost irrelevant already.

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Doesn’t any one feel a sense of outrage? The reason the penny is a seen as burden is that the FED has stolen 97% of the value of a “dollar”. That’s wealth that has been stolen from “We, The Sheeple” as sure as it the Prez, any Prez of either of the supposed political parties, had taken a gun and robbed you in the street. The fact, that it’s done sight unseen by the magic of paper, doesn’t make it any less of a robbery. We just don’t see the masked men. But everyone’s attitude about the penny is the evidence that the crime was committed.

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MONEY: What will our “friends” the Chinese say?

Sunday, November 14, 2010

http://www.reuters.com/article/idUSTOE6A706720101108

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The summit has been overshadowed by disagreements over the U.S. Federal Reserve’s quantitative easing (QE) policy under which it will print money to buy $600 billion of government bonds, a move that could depress the dollar and cause a potentially destabilising flow of money into emerging economies.

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The you know what is flying towards the fan?

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MONEY: We need to return to Constitutional money — gold and silver

Wednesday, November 10, 2010

http://nicholasnigro.blogspot.com/2010/11/quantitative-easing-just-got-easier.html

Sunday, November 7, 2010
Quantitative Easing Just Got Easier
Nicholas Nigro

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This roundabout way of printing money will, apparently, guarantee only one sure thing that you can take to the bank: the further weakening of the once Almighty Dollar and a corresponding rise in critical commodity prices because of it. Translation: From the grocery store to the gas pump, those who can least afford it will pay more and more for basic necessities. But I imagine the government measuring sticks will continue to tell us that we are living in a period of very low inflation for the foreseeable future, and that we should be more concerned about the prospects of deflation.

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What “they” have fooled everyone into thinking is that a “dollar”, a “Federal Reserve Note”, that green piece of linen cotton “paper”, is actually worth something tangible. In elementary economics, we learned that humans transferred from barter to money because money had certain useful characteristics. Most notably it permitted the butcher to trade directly with the candlestick maker without trading with the baker first. From whence all the good things that the division of labor provides — specialization.

Quoting from my favorite novel (Mine!) “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

“We, The People” have forgotten that. As well as the Dead Old White Guys Constitutional admonition that only gold and silver should be money. Along with a bunch of other stuff, like the Bill of Rights, Declaration of Independence, and a general dislike for oppressive Gooferment.

So, now, the politicians and bureaucrats are riding high on the hog and the taxpayers have been laid low. Like the host of a parasite weakened to near death.

Gooferment is the meme that kills people. It’s time to awaken from our economic nightmare and throw out the FED and return to “Constitutional money” — gold and silver. And watch the global economy rebound when the world isn’t paying the “inflation tax”.

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MONEY: Default, hyperinflation, or seizing the IRA/401k money

Monday, November 8, 2010

http://www.lewrockwell.com/holland/holland32.1.html

2010 Is Just Deck Chair Politics on the USS Titanic by Ron Holland

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Confiscation of Large Retirement Fund Accounts – The long-term confiscation and control idea is to eventually force all retirement benefits under the new automatic/mandatory IRA program where everything will be combined with and managed like your Social Security benefits. Wealthy and productive Americans will find their retirement benefits used to support the trillions in underfunded union, state and local government employee plans.

Solution: When possible, move your substantial retirement assets legally offshore to escape a future liquidity crisis when the theft will occur and drawdown your balances by taking withdrawals as soon as you can without an early retirement penalty.

The Risk of Private Gold Confiscation Will Go Up – When the dollar and Treasury market crashes, Washington will enact legislation against gold investors to curtail your profits, add a confiscatory non-productive asset tax or confiscate your gold with some type of fiat currency exchange. In any case, they plan to end up with your gold as this will be the basis of a restored dollar.

Solution: Move most of your gold offshore in a legal and reportable manner but outside the threat of closed or paralyzed banks, US investment firms and desperate politicians.

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He makes it sound pretty bleak. But, I have to say, I don’t see how the Gooferment steers it’s way out of this debacle. They need trillions of “dollars” in wealth to somewhat balance the international books.

That means default, hyperinflation, or seizing the IRA/401k money.

There’s nothing else in the sizes that they need. Of the three options, seizing is the “easiest”. They only have to order a few hundred “custodians” to hand over the loot. Those “custodians” are companies that operate under the thumb of the Gooferment regulation, are beholding to the “bailouts” in one way or another, and are the fat cats who will be well rewarded for betraying the Sheeple.

The only question in my mind is does this bring on a full scale armed revolt. It’ll MIGHT make the tea parties look like a Boy and Girl Scout’s Jamboree. Think storming the Bastile. And, in the words of that often quote but possibly never said famous star-crossed Japanese Admiral: “You cannot invade the mainland United States. There would be a rifle behind every blade of grass.” — apocryphal unsourced quote attributed to Admiral Isoroku Yamamoto

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MONEY: Just don’t

Saturday, November 6, 2010

http://www.lewrockwell.com/bonner/bonner438.html

Rising Food and Energy Costs to Add to Retirees’ Problems by Bill Bonner

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Our advice: don’t grow old. Don’t retire. Don’t get sick. Don’t trust the feds. And don’t sell your gold.

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Yup, it’s gonna be tuff to be old!

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MONEY: Dodd–Frank Wall Street Reform and Consumer Protection Act is what?

Sunday, October 31, 2010

<Broken Link>

How Will Financial Reform Affect You? by Ric Edelman For Immediate Release October 29, 2010

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After months of debate, the Dodd–Frank Wall Street Reform and Consumer Protection Act is law — and a long one at that. At more than 2,300 pages, the law requires regulators to create some 240 new rules, conduct 68 studies and issue more than 20 periodic reports. All this will occur over time; in many cases, implementation dates and deadlines are unspecified.

Parts of the law will impact the products and services that are available to you; others are designed to improve the nation’s financial stability. Read on to learn about some of the law’s most important provisions.

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Ric Edelman has a lot of smart people looking into this. It’s going to impact everything. And, I doubt that it will be good. Who know what the “unintended consequences” will be? FYI!

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MONEY: Securitized mortgage debt may kill pension funds

Wednesday, October 20, 2010

http://www.lewrockwell.com/rep/foreclosure-fraud.html

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#6 Renowned investor Jim Sinclair is actually warning that the collapse of securitized mortgage debt could be the “final shot” that will wipe out many financial institutions across the United States.

The recent warning that Sinclair posted on his blog is more than a little sobering….

I am asking for your attention again because of the depth of the fraud and now the size of the securitized mortgage debt OTC derivative pile of garbage that is in the trillions. This entire mountain of weapons of mass financial and social destruction is now in question. I have been telling you this for more than 2 years since the manufacturers and distributors of this crap were called by the NY Fed due to the loss of control over the paperwork.

I had dinner with my former partner, then lead director of and CEO of Bear Stearns. I could not contain myself so I asked him why he did so much business in OTC derivatives which were certain to bankrupt them. The answer I got was it was more than 50% of their profit. The right answer should have been it was more than 80% of their earnings.

Securitized mortgage debt is going to be the final shot that kills all kinds of financial entities in the Western world. The biggest holder of this putrid junk is pension funds.

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Regardless of the accuracy of this assertion, one can be sure that, between the Federal Reserve System and the corrupted politicians in the District of Corruption, this will become the taxpayer’s problem. fjohn

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