http://www.youtube.com/watch?v=mhtTfK6Vuz8&feature=player_embedded
Worst Case: The Day The Dollar Falls Part 1/6
A 2005 Dutch film about TEOTWAWKI (The End Of The World As We Know It) caused by a financial panic. All caused by big US deficits.
Interesting?
Maybe the fellow just had the year and President wrong.
Now we have Trillion Dollar Deficits for forever.
Scary!
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Leave a Comment » | 
INTERESTING | Tagged: Depression, Economics, Gooferment, Inflation, Obama, POTUS, sound money | 
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Posted by reinkefj
http://www.lewrockwell.com/buchanan/buchanan108.html
Should We Kill the Fed?
by Patrick J. Buchanan
*** begin quote ***
Should not this creature from Jekyll Island, for all its manifold crimes and sins against the republic, also be summarily put to death?
*** end quote ***
The Federal Reserve Bank!
It’s neither ‘federal” since not even the US Congress can get its books audited.
It “reserves” nothing; it merely manipulates and prints.
And, it’s not a “bank”.
So what is it?
What is the creature from Jekyll Island?
(The name comes from the location of a secret collusion between bankers where the arrangement was hammered out.)
It’s a price fixing cartel a la OPEC for “american” banks.
As PJB alludes, Andrew Jackson must be rolling over in his grave, he killed one of it’s predecessors the “United States Bank”.
Of course, I agree that if we had commodity money, we would NOT have the artificial booms and busts that come with manipulating interest rates. Interest rates are the key indicator to business as to what projects are worth doing and what are not. AND, without a fiat currency, (where the Fed prints all the Congress can spend), the Congress would be restrained in its spending. AND, our poor and those on fixed income wouldn’t have to pay the brunt of the “inflation tax”.
Before leaving the Gold Standard in 1913 and before the FED embarked on manipulating us for the benefit of the rich and their banks, America was in decades of stable slightly declining prices. Money was a stable store of value.
(“Money is a matter of functions four, a medium, a measure, a standard, a store.” p116 in my novel “CHURCH 10●19●62”)
How does one plan in post WW1 Germany, Argentina in the 80’s, Zimbabwe today, or the USA in the next decade? Runaway inflation of the money supply and high interest rates are going to hurt everyone.
I have only heard one real objection and one minor objection to the Gold Standard.
Bob Brinker (bobbrinker dot com) had the minor objection that there would no ability for the government to supply stimulus to the economy with monetary policy. That’s is the problem, Bob; the politicians want inflation so they can spend to buy votes, reward their friends, and punish their enemies.
More substantially, Brinker objected to giving Congress the power to value money. He feared runaway inflation as the the COngress, as did the French Kings, inflate uncontrollably. That we agree on. Congress is like drunken sailors. Except their ship is always in.
Returning to the Gold Standard, where a dollar is defined as some amount of gold and / or silver, will impose discipline on the world.
How do we get there?
Let people be free to use whatever they want for money. The King, the government, the criminals in DC should just repeal the mandatory tender laws that force everyone to accept the dollar. The marketplace will quickly adjust.
And, Americans can get back to work.
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Leave a Comment » | MONEY | Tagged: Economics, Inflation, Morality | Permalink
Posted by reinkefj
http://online.wsj.com/article/SB123862834153780427.html
* OPINION
The President Is ‘Keeping Score’
Chicago politics has moved into the White House.
By KARL ROVE
*** begin quote ***
Alinsky’s 1971 book, “Rules for Radicals,” is a favorite of the Obamas. Michele Obama quoted it at the Democratic Convention. One Alinsky tactic is to “Pick the target, freeze it, personalize it, and polarize it.” That’s what the White House did in targeting Rush Limbaugh, Rick Santelli and Jim Cramer. (The president’s press secretary, Robert Gibbs, went so far as to lash all three from the White House press podium.) It may also explain Mr. Obama’s comments to Mr. DeFazio.
*** end quote ***
It’s the same old tired politics as usual. The Big Government D’s took over from the Big Government R’s and are spending our posterity into servitude. And, they don’t realize it.
But we old farts should and resist.
Guess that will put me on an enemies list somewhere.
I hate all the politicians.
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Leave a Comment » | INTERESTING | Tagged: Economics, Obama, Revolt | Permalink
Posted by reinkefj
http://www.lewrockwell.com/orig9/shostak7.html
Would Cleansing Banks’ Balance Sheets Kick-start the US Economy?
by Frank Shostak
*** begin quote ***
Again, note that what makes the lending possible here is not money but the saved consumer goods. Money just serves here as a facilitator. Or we can say that the act of lending here is about the transfer of final consumer goods from lender to a borrower with the help of money.
The essence of credit will not be altered by the introduction of banks. Instead of lending money directly, John could now engage in lending through the intermediary. (John transfers his money to the bank. The bank lends the money to a borrower.)
Real savings determines the size of credit. What people really want is real stuff, i.e., real savings and not money as such. Hence, as long as banks facilitate credit that is fully backed by real savings, they should be seen as the agents in the transmission of wealth.
*** end quote ***
(Disclaimer: I’m an injineer that got D’s in economics.)
This little morality play about savings misses three factors that I think are significant.
The theft of money by inflation. It in effect “steals” from every dollar holder and acts as a hidden tax.
The interest rate controlled by the central bank “taxes” savings both when the rate is too high and too low.
The baker and all who consume bread are forced to “save” by virtue of these taxes.
When money is debased, all economic calculations are done with a “broken calculator”.
IMHO!
As I said I’m just a dumb old injineer!
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Leave a Comment » | INTERESTING | Tagged: economic freedom, Economics, Gooferment, Inflation, Revolt | Permalink
Posted by reinkefj
http://www.lewrockwell.com/murphy/murphy152.html
Defend the Gold Standard
by Bob Murphy
*** begin quote ***
I don’t trust central bankers to stick to a gold standard; that’s why I think the government should get out of the money industry altogether. Suppose we were starting in an initial state of pure laissez-faire in money and banking, and someone said, “Hey I know! Let’s give this Princeton professor – what was your name, sir, was it Ben? – a printing press, but be very stern that he can’t overdo it and allow the gold price to rise more than 1 percent from the day he starts. Does that sound like a good idea?” In response, I would obviously say, “No, that seems rather risky. I think we should stick to the current system, where the market determines how much new money is brought into the economy through gold production.”
*** end quote ***
We fall prey to these bozo bureaucrats when we let them mess with the money supply.
If we tie the value of a dollar to gold, then the Fed can’t just manufacture dollars out of thin air. And, congress critters can’t spend what they don’t take it.
It restores honesty to finances. It disciplines them into husbandry. It forces them to live with in OUR means.
After all in fiat currency, what is a dollar?
A toilet paper alternative?
Argh!
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Leave a Comment » | GOLDBUG | Tagged: Economics, Inflation, Morality, Tax Revolt | Permalink
Posted by reinkefj
http://rivals.yahoo.com/ncaa/womens-basketball/news?slug=ap-ncaa-graduation&prov=ap&type=lgns
14 women’s tourney teams have perfect grad rates
By The Associated Press 4 hours, 38 minutes ago
*** begin quote ***
Fourteen women’s basketball teams in the NCAA tournament have perfect graduation rates.
*** end quote ***
NCAA could clean this up in a heartbeat. And, level the playing field. Tie graduation to the scholarships you can give out. One of your team doesn’t graduate or isn’t on schedule, that’s one less scholarship you can give out. Sounds fair to me! Guess coaches will have to focus on selecting players who can make the grade and coaching them in more than basketball. I know that MC focuses on graduation. There has to be some small tolerance for personal decisions, emergencies, and such. Maybe they get 1 free pass or such an allowance. But clearly if your player can’t graduate, can’t read, and has been totally exploited, then they need some protection.
Embarrassing! Or worse.
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Leave a Comment » | INTERESTING | Tagged: Economics, Education, Morality | Permalink
Posted by reinkefj
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88524
People demanded change and it’s coming
Posted: February 10, 2009 8:41 pm Eastern
*** begin quote ***
The time of politicians listening to the will of the people has long passed. They are no longer our servants, they are our masters. Masters who demand we continue down the same road that has failed us for years.
What are we going to do about it?
As for me, I have decided to take hold of my future by preparing for very uncertain times. I live debt free. I live within my means. I don’t have the biggest house in town. But I sleep well and know that when they screw things up even worse than they already have, I can pay my bills because I don’t invest in their nonsense. I own land, gold, cash and a very small amount of stock.
I suggest you do the same.
I fully intend to expose and vote against everyone who voted for this foolish bill. Any member of Congress who voted for this bill should never be re-elected. They have blatantly disregarded the cries of the constituents who gave them their jobs. They may have ignored us once without a consequence but not twice.
Shame on whom this time?
*** and ***
Craig R. Smith is president and CEO of Swiss America Trading Corporation, an investment firm specializing in U.S. gold and silver coins. An expert in tangible assets, he is an author, commentator and frequent radio and television guest because he instantly engages audiences with his common-sense analysis of economic trends.
*** end quote ***
Seems like a good plan to me.
It goes hand in hand with my first element of my “Success for your generation” that is “(1) ruthless financial discipline — no bad debt;”
Maybe Dave Ramsey IS right!
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Leave a Comment » | MONEY | Tagged: Economics | Permalink
Posted by reinkefj
http://www.americanthinker.com/blog/2009/03/welcome_to_the_new_houston_tx.html
March 17, 2009
Welcome to the new Houston, TX … Zug, Switzerland
Larrey Anderson and Otis Glazebrook
*** begin quote ***
Where does U.S. oil money go when Obama promises to punish the oil companies for excess profits? Reuters’ Sam Cage knows:
*** end quote ***
What these socialists forget is that companies can site where ever they want. So guess what? Bye bye USA!
It’s the corporate version of a “tax revolt”. They don’t stand and fight. They run.
Unfortunately, it’s harder for real people. If I was a wee lad, I’d be off to NH with the Free State Project. http://www.freestateproject.org/ Before your “roots” harden you into the ground.
Churchill’s words echo hollow here in NJ, when do we fight? When it’s hopeless!
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Leave a Comment » | INTERESTING | Tagged: Corporate Tax, economic freedom, Economics, Tax Revolt | Permalink
Posted by reinkefj
http://insidecatholic.com/Joomla/index.php?option=com_content&task=view&id=5565&Itemid=48
The Money Meltdown: A Conversation with Thomas Woods Jr. by Brian Saint-Paul 3/11/09
*** begin quote ***
Q: We’ve had bailouts and stimulus packages, and possibly more of both in the near future. If you were to look into a crystal ball, where are we going to be in 20 years? Where is all of this heading? Will we reach a point of total economic collapse? Or will we wind up as the newest Euro-style state?
It seems to me that the best-case scenario is a kind of European third-way stagnation: high unemployment, anemic growth (if any), and a whole bunch of people scratching their heads and wondering why this is happening. That could be our fate.
Of course, it could be worse. It may turn into something like what Japan endured in the 1990s and beyond — though at least Japan had some domestic savings as a cushion. Or there could well be a complete collapse of the system, with the dollar destroyed. This is all conditional, because it depends in large part on what the government does. Its cure is almost sure to be worse than the disease.
I’d love to think that if a collapse came, people would say, “Obviously, intervention doesn’t work, so let’s try what the Austrians have been suggesting.” But I think instead a demagogue would rise up to say — as usual — that the problem is not enough government involvement, and that he’s going to rescue us.
That’s the most likely outcome.
*** and ***
Thomas E. Woods Jr. is senior fellow in American history at the Ludwig von Mises Institute. He is the author of nine books, including two New York Times bestsellers: The Politically Incorrect Guide to American History and the just-released Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, as well as the award-winning The Church and the Market: A Catholic Defense of the Free Economy. Visit his new Web site.
* end quote *
Leave a Comment » | MONEY | Tagged: Bailout, Bailouts, Depression, Economics, Inflation, Moral Hazard, Morality, personal liberty | Permalink
Posted by reinkefj
http://corner.nationalreview.com/post/?q=YTkzMzllNmE3MDM3NDhmMjcxZjA5MTE0OTk5NDJkODQ=
NRO BLOG ROW – THE CORNER – Wednesday, March 11, 2009
*** begin quote ***
Accordingly, conservatism will return to prominence when it uses time-honored and unchanging free-market principles to address new problems, and when it finds advocates who both are adept at communication with non-traditional audiences (e.g., why it is in the interest of African-Americans to be skeptical of abortion on demand, why Hispanic small-business people need to be wary of intrusive regulations, why Asian-Americans should fear affirmative-action-driven de facto racial quotas at the University of California, why talented teachers should not have to join bureaucratic, ossified unions, why today’s young people should not have to pay off Obama’s annual $1.7 trillion deficits, etc.) and believe in their message’s resonance, without trimming[?] for the applause of the moment.
*** end quote ***
As “conservatism” seeks to return us to the “classical liberalism” of the First American Revolution, a little L libertarian like myself can agree that it’s a good first step.
Unfortunately, for as smart as I feel the DOWGs were, and they were far smarter than I, and more courageous as well, I don’t think we can rewind the clock.
We have to take those “classically liberal” principles and move forward applying them to today’s problems.
Just as the King was rightly opposed as tyrannical, so to must we oppose the new “king” — the overpower all-encompassing gooferment.
Empowering the individual to make their own choices and bear the consequences of bad choices.
So, we have to have miniscule government. Close to the people. With it’s only mission being to protect the rights of individuals.
Argh!
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Leave a Comment » | ADMINISTRIVIA | Tagged: Bailout, economic freedom, Economics, Education, honesty | Permalink
Posted by reinkefj
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FJohn Reinke
Consultant at Technology Legacies LLC
Advisor, Computer Governance Committee at Manhattan College
Editor / Publisher at Jasper Jottings
Greater New York City Area
JJ Positraction JJ Endnotes Downsize DC
Philosophy of Liberty
I have NOT received any gagged governmental information requests
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