Reinke Faces Life

*** begin quote ***

I’ve been preaching silver to my friends. It’s shocking that people don’t recognize how devalued the dollar really is. A hockey team moved to Canada from Atlanta today and the radio guy said a few years ago that was unthinkable because the dollar vs canadian dollar was so lopsided Canadian businessmen couldn’t compete. The NFL wants a franchise is Toronto and again the writer referenced that the dollar being so weak allows Canadians to compete in signing players. I’ve also been following the disaster better know and the Federal Reserve- Bernake may be a smart guy and a depression era expert but he can’t get out of his own way and talks himself into trouble.

*** end quote ***

I like to use the 30¢ / gallon of gas (i.e., 3 silver dimes) and at today’s silver rule of thumb (20 x pre-64 face value) that means you have $6 for a gallon. :-) It’s so OBVIOUS! And, I remember gas at 20 with trading stamps and an ugly glass and the fellow cleaned the windshield, checked the oil, and spoke english. Argh!

# # # # #

http://www.ricedelman.com/cs/pressroom/pressroom_detail?pressrelease.id=2431

Are Brokers Being Punished for Not Pushing Enough Product?
For Immediate Release
June 04, 2011

*** begin quote ***

It’s obvious how Merrill’s move might help shareholders: More revenue produces more profit. But it’s harder to see the value for clients. The only way brokers generate commissions is by selling investment products. That means the brokers must constantly pitch new products to their clients. Is that compatible with the clients’ financial goals?

*** end quote ***

Interesting? How do you see if your interests are aligned with those running your accounts?

Good luck.

Even if you’re just using your 401k to save for your retirement.

The company that “generously” provides your 401k is getting kick backs from the the fund company. The fund company is sticking you with fees and commissions that are probably illegal. And that’s just what we can “see”.

ENRON was a disaster for employees because they required you to contribute to your 401k and it had to go into their stock.

And, everyone was encourage to roll over their old 401ks into it. That’s how that pac tel guy managed to lose everything including his 1m$ 401k from his life’s employment with Pacific Telephone. Argh!

I admit I’m a bullion kinda guy. Silver, Gold, Nickels, Pennies, Platinum, Palladium … anything that you can hold in your hands. Even a can of beans!

You have to think that perhaps, just maybe, the 401k that your being offered maybe a “poison pill”. Especially if the Gooferment is gazing wistfully at the umpty ump trillions in “retirement savings”. Your “retirement” savings.

# # # # #

http://www.cato-at-liberty.org/whitewashing-the-auto-bailouts

Whitewashing the Auto Bailouts
Posted by Daniel Ikenson

*** begin quote ***

Any verdict on the outcome of the auto industry intervention must take into account, among other things, the billions of dollars in property confiscated from the auto companies’ debt-holders; the higher risk premium built into U.S. corporate debt as a result; the costs of denying the other, more successful auto producers the spoils of competition (including additional market share and access to the resources misallocated at Chrysler and GM); the costs of rewarding irresponsible actors (like the UAW) by insulating them from the outcomes of what should have been an apolitical bankruptcy proceeding; the effects of GM’s nationalization on production, investment, and public policy decisions; the diminution of U.S. moral authority to counsel foreign governments against market interventions that can adversely affect U.S. businesses competing abroad; and the corrosive impact on America’s institutions of the illegal diversion of TARP funds to achieve politically desirable outcomes.

*** end quote ***

In that “confiscated from the auto companies’ debt-holders” is her 5k$ in bonds in her IRA. (Against my advice!)

Usually very non-political, that really put a knot in her shorts.

Mine too.

Not that it was a lot of money. 5k$ was about a ⅓ of a month’s pay when I was flying high.

She worked hard for her money. Scrimped and saved. Denied herself stuff. Because she was always afraid of being poor again.

It used to be that 5k$ was a LOT of money. But the politicians and bureaucrats have inflated away that value.

And, I know everyone thinks I have a tin foil hat.

But when the Gooferment just takes your stuff because they can and you don’t get mad, well then who has the tin foil hat?

# # # # #

http://www.catholicculture.org/news/headlines/index.cfm?storyid=10435

Boston archdiocese reaches settlement in nuns’ lawsuit over pension fund
May 25, 2011

*** begin quote ***

The lawsuit came after archdiocesan officials disclosed that the entire pension account is severely underfunded.

*** end quote ***

I fear that this is just the tip of the old pension underfunded iceberg.

Anyone with a pension better start paying attention to it.

The Pepuls Republik of Nu Jerzee is reported to have not made a pension payment into the state workers fund for decades. Where are the unions leaders, the auditors, the state workers themselves. Where’s the litigation? Where are the feds? PGB, SEC, FTC, Treasury, FBI … …

Clearly, “workers” can NOT depend upon “pensions”. The “gold watch era” ended in the 60’s when the aircraft makers began screwing their senior engineers. That’s how ERISA came about.

And, personally, hope I’m wrong, but we keep seeing trial balloons about the Federal Gooferment “taking” IRA & 401k savings in exchange for an “enhanced social security” benefit. So where are the Feds going to find a big pit of money so they can keep spending. It wouldn’t be too hard. Only have to strong arm 2k+ “custodians”.

SO, everyone better start saving their pennies, nickels. As well as copper, silver, and gold bullion. It’s hard times ahead.

# # # # #

http://www.dickmorris.com/blog/how-the-feds-conceal-inflation/

HOW THE FEDS CONCEAL INFLATION By Dick Morris And Eileen McGann 04.29.2011

*** begin quote ***

If the same methodology that was used in 1980 to chronicle the double digit inflation of that era were in use today, we would have an inflation rate of ten percent right now, according to Shadow Government Statistics. We are entering a massive era of stagflation which recalls to us our writing in Catastrophe, published two years ago, that “inflation may well be the enduring legacy of the Obama presidency.”

*** end quote ***

You just can’t trust the Gooferment to do anything right; nor be honest.

# # # # #

http://freetalklive.com/files/vonnothaus04.mp3

*** begin quote ***

Bernard joins us post-his conviction for “counterfeiting” to discuss the Liberty Dollar, the feds, and what is happening next. Grab the archive here.

*** end quote ***

It’s worth spending an hour. You’ll learn what happens if you want your money to be intrinsically valuable.

# # # # #

http://www.321gold.com/editorials/russell/russell042111.html

*** begin quote ***

In terms of gold: Assessing real estate values in terms of gold. At its peak, the housing market in March 2007, the median US home price was $262,600, which was equivalent to 340.6 ounces of gold. Today’s median income price is $186,100 or 109.2 ounces of gold. So in terms of real money, gold, the US median home price has lost 47% since 2007.

Applying the same measurements to the Dow, from the end of 2001 to the end of 2008 an investment in the Dow would have lost 81% of its purchasing power in terms of gold (statistic courtesy Larry Edelson of the outstanding “Uncommon Wisdom” advisory).

The great and harsh lesson of history now stares Americans in the face — no fiat currency in history has ever survived.

*** end quote ***

It’s nothing but the inherent value of the dollar. It’s zero.

# # # # #

http://www.cato.org/pub_display.php?pub_id=13024

The Weak Dollar Problem
by Steve H. Hanke

*** begin quote ***

For the countries — like the oil producers in the Persian Gulf — the U.S. dollar bloc and fixed exchange rates are a necessity. These countries are mono-product economies, and their “product,” oil, is invoiced in dollars. Accordingly, if a floating exchange-rate regime were adopted, their nominal exchange rates would fluctuate erratically as oil prices fluctuate. When the price of oil rises (falls), the local currencies would appreciate (depreciate). Without a currency link to the dollar and a nominal anchor for its price level, the oil producing countries would experience a wild roller-coaster ride — one distinguished by deflationary lows and inflationary highs.

Thanks to the Fed’s weak dollar policy, the U.S. faces an inflation problem and so does the rest of the world. The weak dollar and the lack of “flexibility” — properly understood — also threaten the free flow of capital and the stability of the international monetary system. It’s time for the Fed to start focusing on the value and stability of the U.S. dollar.

*** end quote ***

As a fat old white guy injineer, it would seem that any thinking person would recognize “the dollar” has failed in one of the definitions of money.

“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

It’s no longer “uniform”. And, it no longer functions as “a measure”, “a standard” or “a store”.

Imagine baseball or football, where each year “a yard” got smaller? Or larger?

In the grocery store, packages stay the same or get larger, while the contents shrink. And, the makers pray the consumer doesn’t get wise.

(What was the name of that Olive maker that destroyed his business by saving one olive per bottle? The consumers disciplined that company out of business.)

We’re on the road to be like pre-WW2 Germany with raging hyper-inflation.

At least, when the golden dinar becomes the world’s standard, we’ll have honest money!

# – # – #

Hanke, Steve H. (2011, April 15). The Weak Dollar Problem. Retrieved April 18, 2011, from The Cato Institute Web site: http://www.cato.org/pub_display.php?pub_id=13024

# # # # #

http://acrossthestreetnet.wordpress.com/2010/12/15/what-the-silver-vigilantes-understand-that-you-probably-dont-arithmetic-human-nature-and/

What The Silver Vigilantes Understand That You Probably Don’t (Arithmetic, Human Nature and other Stuff)
In Open Thread, Silver, stocks finance, Treasuries on Wednesday, December 15, 2010 at 6:03 pm

*** begin quote ***

Part 6. So what’s silver worth.

The short answer is: more. If silver were priced based on its occurrence relative to gold, it would be over $125/oz. If it were priced on its availability – somewhere around $2,000. But if you are content to let the likes of Blythe Masters dictate the value based on truckloads of worthless paper promises, you can expect ultra-low prices until the whole thing blows up. Of course at that point, we’ll be so busy killing each other for food no one will have time to say, “I told you so.”

The silver vigilantes just want you to re-learn what the phrases like, “cold, hard cash,” and“payment in full” are supposed to mean. There not asking you to sink everything you have into physical silver, just a little. Silver can’t be printed into oblivion, or stolen by a cyber attack. Why wouldn’t you want to own some of your very own?

A paper dollar from 1960 is worth exactly the same as a paper dollar in 2010, but four quarters from 1960 are worth more than $21. Given the fiscal insanity of the US government, I can’t imagine the US dollar surviving another 50 years, but I’m quite sure that silver will still be useful. Please consider getting some.

*** end quote ***  

Amazing the price estimation. Question: if silver is 125$/oz or 2k$/oz, what will be the value of the dollar, gold, oil, and everything else? Argh!

# # # # #

> greatest regrets as an investor

“Regrets, I’ve had a few. But then again, too few to mention …”

I, personally, have a “no look back” policy. I’ve seen folks drive themselves nuts, literally, over choices made decades before. So, I don’t REGRET. I’ve made mistakes, blunder, and brain freezes. I’ll share one of the many financial lessons I’ve learned after paying some very expensive “tuition” at the University of Hard Knocks.

The biggest “lesson”, what you’d call a regret, is that, from youth to middle age, I always spent money like a drunken sailor. Savings were for old people. I had some thrifty relatives, but they never transferred that wisdom to me. During this period, I had many investment opportunities, ideas, and opportunities that I couldn’t, wouldn’t, or didn’t take advantage of. In hindsight, I would have been fantastically wealthy if I had taken advantage of them.

You want a specific. I worked on Wall Street and, during that ‘drunken sailor’ era, I thought I knew it all. I “invested” in all sorts of stuff pushed by my employers — the worst was Real Estate Unit Trust. They were dogs; the organizers and the firm made a lot of money. It was a disaster. And, caused me tax problems.

I wised up at some point in my life and got a real financial planner, who gets paid a fixed fee. They’ve gotten me organized and accumulating. Luckily, in my life, I’ve been lucky to stay employed and earning. Time heals all stupidity?

(I’ll permit myself one “coulda”. I know the “shouldas, couldas, and wouldas” will kill you.)

I “coulda” had a much better and different life if I’d just been a little smarter about money.

# # # # #

With all due respect to the distinguished citizens of North Carolina, you rubes blew it. Can anyone seriously think that you can NOT tell the difference between a Federal Reserve Bank coin and a one ounce silver round? I don’t care what he pressed on it — Lady Liberty, George Washington, or Porky Pig! I have some, and invite your inspection. Then you tell me how confused you are between the two. Argh! For a quick test, go into any gold buying outlet with a sack of Federal Reserve Bank “coins” and an equivalent in “Liberty Dollars” (aka one ounce silver rounds). See what you come out with? In the former, you’ll probably get laughed at. In the latter, you’ll have a new appreciation of the difference. Silver is now 32$/oz.

Personally, I’m not surprised.

First, the “citizens” are uninformed about the nature of money and how we are being screwed on a daily basis by the banking cartel called the FED.

That deliberate false advertising. It’s misnamed the Federal Reserve Bank and the Federal Reserve Banking System. “Federal” “Reserve” “Bank” my <synonym for donkey>! It’s not “Federal”; it’s a cartel of the big banks like OPEC. It “Reserves” nothing; it’s a house of paper where the big banks have stolen everything of value. And it’s not a “Bank”. It steals value from the US Treasury and transports it to the big NYC banks on it’s way to the rich elite. And, yes some of them are international.

(N.B.: Peruse a list of the entities that received Federal “TARP” bailout money. You, the poor shmuck on Main Street, bailed out every big US and European Bank. And, that’s just what they told you! Everything these crooks do is about paying off their friends. The ersatz GM “bankruptcy” transferred 5K$ from Frau Reinke’s IRA to the UAW. And, you believe ANYTHING the Gooferment, the politicians, or their bureaucrats say? “I wouldn’t believe you, if your tongue came notarized.” … attributed to Judge Marilyn Milian, but may have an earlier history.

Wake up, Sheeple!

http://charlotte.fbi.gov/dojpressrel/pressrel11/ce031811.htm

“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

# # # # #

http://biggovernment.com/cstreet/2011/03/15/california-moves-closer-toward-default/

California Moves Closer Toward Default by Chriss W. Street

*** begin quote ***

California tax payers just took a huge punch in the nose from the same actuaries who provided the cover for state politicians to spike public employee retirement benefits. The latest shocker comes from California State Controller John Chiang who yesterday unveiled a new actuarial report that shows California faces another unfunded debt of $59.9 billion to pay for retiree health and dental benefits over the next 30 years.

*** end quote ***

When I worked on Wall Street, I learned about risks. Seems to me that a lot of folks in California are underestimating their risks.

I’d not be holding any Gooferment debt.

Here in New Jersey, the State Gooferment just “stole” the state employees’ pensions by not contributing. In California,

Seems like the California folks are gonna get the same — employees and taxpayers alike. And the politicians get off scott free!

# # # # #

http://www.wnd.com/index.php?fa=PAGE.view&pageId=272849#ixzz1GENv0zRe

http://www.wnd.com/index.php?fa=PAGE.view&pageId=272849

Don’t count on currency revaluation
Posted: March 09, 2011 8:37 pm Eastern
By Ian Fletcher

*** begin quote ***

In any case, the killer argument against balancing our trade by just letting the dollar fall comes down to a single word: oil. If the dollar has to fall by half to do this, this means that the price of oil must double in dollar terms. Even if oil remains denominated in dollars (it is already de facto partly priced in euros) a declining dollar will drive its price up. The U.S., with its entrenched suburban land use patterns and two generations of underinvestment in mass transit, is exceptionally ill-equipped to adapt, compared to our competitors.

Fundamentally, allowing the dollar to crumble is a way of restoring our trade balance andinternationalcompetitiveness by becoming poorer. That’s not what Americans want, or should want. A tariff is a much better solution.

*** end quote ***

Perhaps, some one might care to opinion on this piece of bad advice. A hint of a tariff leads to the Great Depression repeat. Allowing currency to inflate takes us the way of all fiat currencies. If we don’t change course, we emulate the Titanic. Argh! OK, what is the “right answer”.

# – # – #

In the absence of any good ideas, why not take small steps: reduce Gooferment spending to pre-Clinton levels, repeal “legal tender” laws, and transition away from the FED.

“We don need no stinkin … …” bureaucrats or Wall Street fat cats.

# # # # #

# # # # #

http://www.where-we-stand.com/banks.html

WHERE WE STAND

Banks and Bankers

*** begin quote ***

Banks are the means by which European aristocracy regained control of America once again following what we thought had been our Revolution.

—L. Neil Smith

*** and ***

The power to create money must be taken from the government backed banking cartel called the Federal Reserve. Lawful money, as mandated by the Constitution—precious metal coins and nothing else—must be substituted for the wastebasket trash that we’ve become accustomed to.

*** end quote ***

Agreed.

But, as always, the problem is how do we get to there from here?

It would be nice if getting there didn’t include complete societal collapse.

# # # # #

http://seekingalpha.com/article/244020-coins-vs-bags-comparing-two-options-in-physical-silver

*** begin quote ***

The 90% Silver Bags consist of coins — dimes and quarters — that were once used as money in the United States. In 1964, one could take a dime to the store and buy a loaf of bread (if you are old enough to remember). Today, that same 90% silver dime is worth $2.10, enough to buy a loaf of bread.

*** end quote ***

Interesting? It’s not that the cost of that loaf of bread has increased. It’s that the value of the money has decreased. Even though, I KNOW that, and I think I UNDERSTAND that fact, still concrete examples like this are a punch to the solar plexus. Leaves you sucking wind. By the same formula, I bout gas for 40¢/gallon. That equates to $8.40/gallon. So, gas has gotten “cheaper”! Argh! Makes me sick to my stomach. And, it’s only getting worse.

# # # # #

http://dailyreckoning.com/the-box-of-money/

The Box of Money
By Eric Fry

*** begin quote ***

02/21/11 Laguna Beach, California – The most persuasive arguments for buying gold do not reside in musty old economics textbooks or in the minutes of the latest FOMC meeting…They reside in Henry Hackel’s “box of money.”

Henry, as faithful Rude Awakening readers will recall, is the president of R.F. Lafferty, a broker-dealer specializing in options trading and resource stocks. In his 26th floor corner office overlooking the Hudson River sits a non-descript cardboard box – a simple shoebox that contains a powerful message: Buy gold.

“Hey Eric, have you ever seen my box of money?” Henry asked one day, wearing an impish grin.

“Um…no,” your editor replied. “I think I would have remembered that.”

“You gotta see this… C’mon, follow me,” said Henry, as he grabbed the box and marched toward the conference room. After seating ourselves at the conference table, Henry slung the box across the table like a bartender slinging draft beers and said, “Take a look.”

Your editor peeled back the lid, peered into the box and saw money – lots and lots of money…but all of it worthless. There were rubles from pre-Soviet Russia, 50 million-mark bills from the Weimar Republic period in Germany, pesos from the 1950s government of Cuba’s Battista regime, and even a few extinct Brazilian cruzeiros.

*** end quote ***

Another version of my pirates’ chest. “Open that pirate’s chest and what do you want to see: greenbacks, Confederate currency, or gold coins?”

I think that says it all!

# # # # #

Read more: The Box of Money http://dailyreckoning.com/the-box-of-money/#ixzz1EdHNg0nm

[FROM A COMMENT I MADE ON ANOTHER BLOG]

Taxes are theft. Despite what the IRS says abut “voluntary”.

In the old days, prior to 1933 FDR gold seizure, the Gooferment had to tax folks to get their gold. After that, the FED just “printed” more dollars. No need to overtly tax anything. Just print more. The FED takes paper dollars out of circulation and puts more in. They used to just put more in than they took out.

This allows the bureaucrats to spend “dollars” that have less value. Without the pain of raising taxes.

Look at the purchasing power of a dollar in 1970 and again in 2000. Depending upon who you believe, even the FED own stats, show the “dollar” has lost 98% of its purchasing power in those decades.

It, of course, hurts the poor – working class – fixed income people worse since they have little option but to spend what they take in.

We’re on our way to a Hyperinflation. The recent — at first hidden and now overtly — purchase of Government Bonds by the FED is an overt “monetizing” of the debt. The Chinese with a guesstimate 6-10 T$ (trillion) dollars are hopping mad. That’s why you see them buying anything in sight. They are unwilling participants in this wild ride. If they start to dump dollars, then everyone will do the same. And, their dollars will swirl the bowl with everyone else.

Some say that the reason our Iraqi buddy Sadam was tumbled was that he wanted to be paid for his oil with gold. He was backing the golden dinar. Not out of religious fervor; that was a good cover. But because he saw his oil being paid for in cheaper and cheaper dollars.

What can the little guy do? Save nickels. Right now they are worth 7¢. Like the pre 1964 silver coins that are worth 20 times their face value, the little guy can save some of his wealth from inflation.

# # # # #

http://money.cnn.com/2011/02/10/markets/dollar/index.htm

IMF calls for dollar alternative
By Ben Rooney, staff reporterFebruary 10, 2011: 4:37 PM ET

*** begin quote ***

NEW YORK (CNNMoney) — The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency.

*** end quote ***

And, why are we funding this group of snakes?

# # # # #

http://www.vtcommons.org/blog/2011/01/19/truth-power-illusion-money-david-korten

TRUTH TO POWER: The Illusion of Money, By David Korten
Submitted by Carolyn Baker on Wed, 01/19/2011 – 9:16pm.
http://www.yesmagazine.org/blogs/david-korten/the-illusion-of-money

*** begin quote ***

The deceptions are built right into our language. We refer to speculation as “investment” and to phantom financial wealth as “capital.” Indeed, when we hear the terms wealth, capital, assets, or resources we have no way to know whether the reference is to a real asset or only to a phantom financial asset. Our language gives us no way to make this essential distinction. It is no wonder we get confused and fail to recognize that Wall Street produces nothing of real value.

*** end quote ***

I cringe every time I hear politicians and bureaucrats blather about “investing in education”, or this, or that. They are always “investing”; I’d call it “spending”, or even “wasting”.

The biggest delusion imho is “money”. Calling intrinsically worthless Federal Reserve Banknotes “money” is self-deception. Calling anything a dollar is perversion of the definition of 24.057 grams of silver.

We have to regain control of our language.

And stop fooling ourselves.

# # # # #

http://dailyreckoning.com/taleb-the-fed-will-be-gone-in-25-years/#ixzz1BPAKvHfu

Taleb: The Fed Will be Gone in 25 Years
By Rocky Vega

*** begin quote ***

Stockholm, Sweden – In the video below, Nicholas Nassim Taleb, author of The Black Swan, is interviewed about the economic crisis by the National Journal’s Matthew Cooper for the Washington Ideas Forum at the Newseum in Washington, DC. Taleb speaks openly about his disdain for Geithner, Krugman, and a raft of other “economists” that failed to see the crisis coming and don’t understand how to respond to it. Here are a few of his thoughts, paraphrased…

* If someone failed to predict the economic crisis before it happened then I don’t want to hear what that person has to say. If a person was able to see the crisis coming, then I want to hear what they have to say.

*** and ***

* In the economy 25 years from now anything fragile will break, everything we’ve bailed out will break and it will cost us more. The Fed will be gone in 25 years because it “fragilizes” the country, and it will be gone and replaced by more organic things. The Fed is what got us in crisis, by trying to manage the economy and by pushing hidden risks that kept accumulating

*** end quote ***

How true! If you got it wrong before, why should we listen to you?

The great advantage of commodity money (i.e., typically silver and gold), as opposed to fiat money aka “It’s money because the Gooferment says it is” (e.g., the United States “dollar” aka Federal Reserve Banknote, the Euro, the Yuan), is simplicity.

There’s no expensive bureaucrats at the Treasury or cartel members at the FED to pay for.

Why did we ever let them slip this one by us?

# # # # #

http://www.lewrockwell.com/rep2/if-fed-had-never-been-created.html

10 Things That Would Be Different If the Federal Reserve Had Never Been Created
Economic Collapse Blog

*** begin quote ***

The vast majority of Americans, including many of those who believe that they are “educated” about the Federal Reserve, do not really understand how the Federal Reserve really makes money for the international banking elite.

*** and ***

Now, the only way that the U.S. government can inject more money into the economy is by going into more debt. But when new government debt is created, the amount of money to pay the interest on that debt is not also created. In this way, it was intended by the international bankers that U.S. government debt would expand indefinitely and the U.S. money supply would also expand indefinitely. In the process, the international bankers would become insanely wealthy by lending money to the U.S. government.

*** and ***

#1 If the U.S. government had been issuing debt-free money all this time, the U.S. government could conceivably have a national debt of zero dollars. Instead, we currently have a national debt that is over 14 trillion dollars.

*** end quote ***

Time to “face the music” or, in this case, the unelected “Fourth Branch of Gooferment” the banking cartel, the Federal Reserve Bank, which ain’t “federal”, “reserves” nothing, and is in no way a “bank”.

We need Ron Paul to pull back the covers and see how badly we have been screwed by a cartel that has monopoly powers enforced by its “friends” in the Gooferment!

Why do we need “anyone” in Gooferment involved in “money”?

When we had gold circulating as money, we had zero politicians and bureaucrats on the payroll to “manage” it.

And, we had gradually declining prices.

We need to get back to that!

# # # # #

http://www.lewrockwell.com/north/north201.html

Two Kinds of Gold Standards
by Gary North
August 26, 2003

*** begin quote ***

This is why the free market is the only reliable source for the re-establishment of a gold standard. Honest money begins with these steps: (1) the revocation of legal tender laws that require people to accept the State’s money; (2) the enforcement of contracts; (3) laws against fraud, which fractional reserve banking is. The free market can do the rest.

*** end quote ***

Clearly, we can NOT get the Gooferment back inside its Constitutional bounds while it has an unlimited line of credit.

The Gold Standard, a real one, not an ersatz Gooferment one, can restrict that Gooferment to only spend what it has or raises.

The debate over tariffs, taxes, and fees are a separate issue; once you close the “barn door”.

# # # # #