Reinke Faces Life

http://www.gambling911.com/Ron-Paul-111807.html

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This “inflation tax” is what is causing most of us to feel the economic pinch right now. Right now one main reason things are so tough on you financially is because the government is spending up to one trillion dollars a year on the military. Guess who is paying for that? Us. Guess when? Now and in the future when we will have to pay interest on even more loans the government took out. The government has no money of its own, it only gets what it takes from you and me. And they have been taking a lot of it. We just haven’t seen it directly coming out of our pockets in the form of taxes in our paycheck, but we sure feel it when it costs over fifty bucks to fill the tank, or milk is five bucks a gallon, or your cat food goes from 7.99 to 12.99 in three months. Right now the prices are rising because the value of the dollar is dropping.

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I’d say a lot of people are finally waking up to the fact that the “inflation tax” might be a bigger bite than any other single tax.

Bout time! It is.

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Friday, November 16, 2007
Early To Rise
The Internet’s Most Popular Wealth,
Health and Success E-Zine
Issue #2201

“It’s Just So Much Tougher for Kids These Days.”
By Michael Masterson

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That’s the view of Tamara Draut, who works for an agency that promotes government action and whose book, Strapped is subtitled “Why America’s 20- and 30- Somethings Can’t Get Ahead.”

I read the book because I was curious. Her assertion didn’t seem true.

Draut argues that escalating college costs, high rents, and a tough job environment have forced our young people into an endless cycle of borrowing. The result? A generation that simply can’t make it in today’s economy. She supports her argument with anecdotes. And she concludes her book with a short chapter urging governmental reforms and running credit card companies off campuses.

***and***

I tried to put everything I know about starting out and becoming successful – as an entrepreneur and as an employee – in Automatic Wealth for Grads… and Anyone Else Just Starting Out. If you get the book (and I hope you will), you’ll see that I put a heavy emphasis on what has worked for me:

Don’t fret about your problems. And don’t wait for the government to solve them. Create a personal plan for success and follow it.

***and***

This is probably not the kind of advice that Tamara Draut would like to hear, because it doesn’t do much to solve the “starting-out problem” on a global level. But I’d like to think it can help individual people – college grads and young people – become wealthy despite the challenges posed by our shaky economy.

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I think anyone, who looks to the gooferment for “helping” getting on track, is going to be sadly disappointed.

In my warped world view, when we help our fellow man, we are awarded certificates of appreciation (i.e., money). Help lot’s of people and get lots of certificates. These are really IOUs that promise to be redeemable at a future date for a like contribution.

[They should be aware of “inflation” aka gooferment counterfeiting. Running the printing press causes inflation and it is an unavoidable tax on money. At least, the old kings had to physically clip coins to steal from the people. Today, it’s a silent hidden tax.]

I see “children” of many chronological ages wasting their attention, time, money, and energy on frivolous things. Probably the biggest waste is attention. When I watch a college football game and they intro the players and identify their major, I’m stunned. Majors like “Sports management”, “Government Studies”, and “Peace” give me the greatest shock. At least if they say “undecided”, I have some hope.

No, as I have said before, I think the model for success in the future generation starts with: (1) ruthless financial discipline. And, maybe it should be shortened to just “ruthless self-discipline”.

In the days of an agricultural America, children grew up quickly. Chores and the harsh realities of life taught discipline. That has been lost. Today, children are allowed to be dilettantes. Unfortunately, there’s no national trust fund to keep them in the style they’ve been accustomed to.

So, I hope that all the young people can see their way clear of the “smoke” that people are blowing up their a…… in their collective eyes making them “blind” to the realities and possibilities of life. They have a lot less room for error than I did when I was a kind.

It’s a global world and their are a lot of hungry people who will eat their lunch unappologetically.

Sigh!

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One of the most common items of misinformation about Ron Paul’s positions is that he wants to go “back on the gold standard” or “return to the gold standard.” And, this is often used as criticism against him by misinformed and careless reporters and bloggers.
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For those who follow Ron Paul closely, this is absolutely correct. Not being crazy, he realizes that we need time to adapt. His statements that I have heard indicate to me that he wants to merely remove the restrictions on “commodity money”. A “commodity money” is a store of value that backed by something like copper, silver, gold, platinum. A “fiat currency” is also a store of value backed by the full faith and credit of the printer. Gooferments use “legal tender” laws to ensure that their fiat currency MUST be accepted. In America’s early days, prior to 1913, the American dollar greenback was redeemable in gold. During that time, many currencies circulate simultaneously. If he begins to closely supervise the Fed with an eye to its demise and begins to unwind the “legal tender” laws, then he will have initiated the Third American Revolution. Just doing what he has said are his priorities will set us on the track to peace and prosperity.
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read more | digg story

http://en.wikipedia.org/wiki/List_of_hobbies

List of hobbies
From Wikipedia, the free encyclopedia

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* 1 Amateur science related
* 2 Animal-related
* 3 Arts and crafts
* 4 Collecting
* 5 Computer-related
* 6 Cooking
* 7 DIY (Do It Yourself)
* 8 Electronics
* 9 Film-making
* 10 Games
* 11 Gardening
* 12 Historical reenactment
* 13 Interactive fiction
* 14 Internet-based hobbies
* 15 Literature
* 16 Model (scale model) building
* 17 Music
* 18 Observation
* 19 Outdoor/nature activities
* 20 Performing arts
* 21 Photography
* 22 Sports or other physical activities
* 23 Toys of some sophistication
* 24 Transportation

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For those who follow my model for future success:

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(6) a free time hobby that generates income;

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So what’s your “hobby”?

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http://www.nytimes.com/2007/11/15/business/15lend.html?ei=5065&en=09648bf21e15f1a5&ex=1195794000&partner=MYWAY&pagewanted=print

November 15, 2007
Foreclosures Hit a Snag for Lenders
By GRETCHEN MORGENSON

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A federal judge in Ohio has ruled against a longstanding foreclosure practice, potentially creating an obstacle for lenders trying to reclaim properties from troubled borrowers and raising questions about the legal standing of investors in mortgage securities pools.

Judge Christopher A. Boyko of Federal District Court in Cleveland dismissed 14 foreclosure cases brought on behalf of mortgage investors, ruling that they had failed to prove that they owned the properties they were trying to seize.

The pooling of home loans into securities has been practiced for decades and helped propel real estate prices in recent years as investors sought the higher yields that such mortgage trusts could provide. Some $6.5 trillion of securitized mortgage debt was outstanding at the end of 2006.

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Interesting?

The concept of “standing” is something that everyone learns to deal with when even contemplating legal action. Prove to me by evidence that you are the injured or the injuring party.

I have no doubt that with some effort the “bank” can meet their burden sooner or later. But, there’s always the possibility of a misfile, blunder, or error.

Just goes to show, never assume anything when you’re in trouble.

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http://www.spiegel.de/international/world/0,1518,517060,00.html

November 13, 2007
WEST WING
A Pearl Harbor without War
By Gabor Steingart in Washington, D.C.
Translated from the German by Christopher Sultan

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The dollar crisis has politicians alarmed worldwide. The US currency has lost 24 percent of its value since the introduction of the euro, and now there is even a chance that China could abandon its policy of pegging its currency to the dollar — a problem the United States should take very seriously.

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So far Beijing has behaved like the benevolent shopkeeper who willingly extends credit to his customers. The Americans receive shipments of Chinese-made television sets, toys and underwear, but the Chinese do not import a comparable volume of US goods. The gap between buying and selling amounts to about $5 billion every week.

The Chinese are satisfied with buying US treasury bonds, partly to keep their most important customer afloat. The central bank in Beijing already holds currency reserves of $1.4 trillion.

{Extraneous Deleted}

Within a single generation, the world’s biggest lender has become its biggest borrower, a circumstance the United States has made no serious attempts to change. And what has been Washington’s standard take on the shift? The dollar is our currency, but it’s your problem.

Thus, the tone of the US government’s callous and thick-skinned reaction to China’s announcement last week came as no surprise. There was a reason the dollar became the world’s reserve currency, US Treasury Secretary Hank Paulson said in a slightly offended tone.

{Extraneous Deleted}

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Well, the other shoe is about to drop. And, it would be nice if it didn’t drop on us! I have no illusions about just how important this upcoming Presidential election is to everyone’s pocketbook. Personally, I’m prepping fro President Hillary and adjusting my thinking along those lines. It will make the 1929 Great Depression look like a walk in the park. We have a Notre Dame style Hail Mary if Ron Paul can get the Republican nomination and then win the election. At least, he understands the problems and a way for us to escape the executioner’s guillotine. A return to commodity money! Sure, it’s painful. But not as bad as a Great Depression Cubed with Hillary (i.e., the Dollar is no longer the World’s reserve currency, Social Security – Medicare – Medicaid – Drug Benefit time bomb explodes, and a global depression that makes the Japanese Stagflation look like a boom). Add to that President Hillary’s version of a “Great Society” with Guns + Butter + Socialism. And, it’s pretty bleak.

I’m advising getting your financial house in order for a plague of Biblical proportions. Seven years of lean might well be seventy. Look at the aftermath for the Roman Empire and you might get a feel for the next set of Dark Ages.

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http://www.survivalblog.com/2007/11/mass_inflation_aheadsave_your.html

How To Build Your Pile of Nickels

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How can you amass a big pile-o-nickels? Obviously just saving the few that you normally receive as pocket change is insufficient. Here are some possibilities:

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2.) Obtain nickels in rolls from your friendly local bank teller. Most “retail” banks are already accustomed to handing over rolls of coins to private depositors because of collector demand for statehood commemorative quarters and the new presidential dollar coins. Ask for $20 or $30 of nickels in rolls each time that you visit to do your normal banking deposits or withdrawals. It is best to ask for new “wrapped” (fresh Federal Reserve Bank issue) rolls. This way, you might have the chance of getting rolls with valuable minting errors–such as “double die” strikes. These are usually noticed and publicized a few months after the fact, and can be quite valuable. You will also be assured that you are getting full 40 coin rolls. (Getting shorted with 38 or 39 coin rolls is possible with hand-rolled coins.) If the tellers ask why you want so many, you can honestly tell them: “I’m working on a collection for my children.” (You need not tell them how large a collection it is!)

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Get ready for rampant inflation and currency devaluation.

This is a currency hedge for the little guys.

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text

http://www.getrichslowly.org/blog/2007/11/06/beware-of-citibanks-retroactive-late-fee

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Here’s one way for banks to compensate for their losses during the subprime lending debacle: screw their other customers. GRS reader Morydd shared a scary story in the discussion forums. His wife has a student loan through Citibank, which this month decided to charge a retro-active late fee without any explanation.

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Watch for fees! You figure all these banks will have to make up their sub-prime mortgage losses somewhere. What better place than you!

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http://www.liberty-watch.com/volume03/issue08/coverstory.php

Good as Gold

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One gold coin with a face value of $50 currently equals $806 in FRNs. If a worker earns a $50 gold coin each week, that person takes home an annual income of $2,600 based on the precious metal system, which is below the income-tax reporting threshold for an employee. However, the value of the coins in FRNs — $41,912 — is not. That’s the basic idea.

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The gooferment has missed their appeal deadline. It has gone unreported as to their intentions.

So, you have a trap door for the time being. Use the time wisely.

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http://www.getrichslowly.org/blog/2007/10/28/build-wealth-with-a-virtual-employer

Build Wealth with a “Virtual Employer”
Sunday, 28th October 2007 (by J.D.)
This article is about Money Hacks, Hints and Tips

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Here’s the longest “money hack” I’ve ever posted. This is another reader comment from our recent discussion about the transition from “becoming debt-free” to “living debt-free”. In this guest-post from James, who is new to GRS, he describes how he created a “virtual employer” in order to limit his natural spending habits. By playing games with himself, he was able to go from $20,000 in debt to having over a million in savings in just fifteen years. This guest-post is long, but I think it’s worth it.

How is living debt-free different than becoming debt-free? If you are rational (and fortunate) it shouldn’t be different at all.

***and***

A tale of two employers

My real-life employer direct-deposited my paycheck into a money market account. This account used an automated bill-payment service to make deposits into my regular checking and savings account every two weeks. This last set of accounts was used for ATM transactions, and for paying all of my bills. Income into this account was my “salary”. I had to live within my means just like I ought. However, it was like I did not work for my employer, but for a fictitious employer. When I got raises or bonuses, they went into this fake employer’s money market account and did not appear in my salary — they were left to build my savings faster.

Once a year, I gave myself a raise by changing the amount of the bi-weekly salary that went into my personal bank accounts. My income kept rising, just a bit more slowly than in my real-life job. I never felt that I was scrimping because my virtual job was increasing my virtual salary faster than inflation. It took me about two years to pay off debt, and another 4-5 years to build up emergency savings and open a brokerage account and start investing.

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Here’s a great idea.

If only the tax code would let one be one’s own employer.

But, in any event, here’s a way to fool yourself into living within your means.

I think this is one of the more innovative things I have read.

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