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MEME: Your current dollar is only worth $0.574 of what it was in 1924
Tuesday, December 3, 2024
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Leave a Comment » | 
MEME | Tagged: Inflation, monetary malpractice, pawn stars, Progressive | 
Permalink
Posted by reinkefj
POLITICAL: Ask Harris — “Why did you lie to the American people about Biden’s deteriorating mental health?”
Saturday, September 21, 2024https://www.thegatewaypundit.com/2024/09/wayne-root-president-trump-called-me-right-after/
WAYNE ROOT: President Trump Called Me Right After Debate. I told Him ABC Clearly Gave Kamala Harris All the Questions in Advance.
by Assistant Editor Sep. 11, 2024 12:40 pm
*** begin quote ***
Clearly only 2 things happened before last night’s presidential debate…
Either Kamala’s best friends who run ABC gave her all the questions in advance of the debate…
Or Team Kamala gave the questions they wanted asked to ABC.
I told President Trump the exact same thing last night, right after the debate. What happened last night wasn’t normal. More importantly, Kamala’s debate performance wasn’t possible- not without a lot of help from her friends.
*** and ***
I told him he won- because no matter how negative the questions, no matter how vicious and biased the moderators, no matter how hateful Kamala was…in the end, all that matters, all that will resonate…are the four issues most middle class Americans care about…
And you won on those four issues all night long: the economy, inflation, crime and the open border disaster.
That’s it. That’s all that matters. And you won on those four issues. Most Americans are with you. All the rest is B.S. and will be forgotten.
*** and ***
*Who is really running the country?
*Why did you lie to the American people about Biden’s deteriorating mental health?
*Inflation is killing American families. It was close to -0- when you took over. What did you do wrong?
*Why do you support giving citizenship to every illegal alien and free healthcare to all of them, while taking away private healthcare from American citizens?
*Do you feel responsible for all the women and children murdered by illegal aliens you and Biden welcomed into our country?
*Do you see Venezuelan prison gangs taking over entire blocks of U.S. cities?
*Why do you support letting transgender illegal aliens into our country, and asking US taxpayers to pay for their sex change operations?
*Why are you and Biden against free speech? Why do you order censorship of conservatives and critics?
*You say you support women’s rights, so why do you want boys to play women’s sports, and take away scholarships from girls?
*You say Trump incited an insurrection, but didn’t you do exactly that by egging on BLM rioters, and trying to raise money to bail out BLM criminals, rioters, looters and torchers?
*** end quote ***
Well, the “sorority connection” and Donna Brazile’s involvement certain make me question the “fairness”?
I won’t forget the topic (questions) that weren’t asked.
The National Debt, the unfunded liabilities, the continuing deficit spending, and the resulting inflation.
Argh!
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Leave a Comment » | Political | Tagged: CRIME, Economy, Gateway Pundit, Inflation, Kamala Harris, open border disaster, Trump, WAYNE ROOT | Permalink
Posted by reinkefj
POLITICAL: Kamala Harris is a communist at heart and economically illiterate!
Saturday, August 17, 2024Kamala Harris’ plan to lower food prices is ripped to shreds by Republicans, economists: ‘Economic lunacy’
By Victor Nava
Published Aug. 15, 2024
Updated Aug. 15, 2024, 9:50 p.m. ET
*** begin quote ***
Vice President Kamala Harris’ plan to grant the federal government expansive new authority to control food and grocery prices was roundly criticized Thursday by several Republicans and economists, who argued that it was “big government on steroids” and “economic lunacy.”
The 59-year-old Democratic presidential nominee’s economic agenda calls for the “first-ever federal ban on price gouging on food and groceries” to be implemented within her first 100 days as president in order to “bring down Americans’ grocery costs and keep inflation in check,” according to the Harris campaign, which released details of the plan ahead of Friday’s official unveiling.
*** and ***
Jared Walczak, a researcher and vice president at the nonpartisan Tax Foundation, pointed out the slim profit margins companies selling groceries are making even as prices on food skyrocketed under President Biden.
“When Kamala Harris cites price gouging by grocers, these are the industry profit margins she’s railing against,” Walczak wrote on X, including a graph showing the 1.2% profit margins grocers made last year compared to 8.5% profit margins across all industries.
When Kamala Harris cites price gouging by grocers, these are the industry profit margins she’s railing against. pic.twitter.com/IYnWjxLa07
— Jared Walczak (@JaredWalczak) August 15, 2024
*** and ***
“Price controls are a SERIOUSLY bad idea,” he wrote on X. “They lead to shortages, severe misallocations of capital, and distort the ability to prices to signal the information we all need to make choices.”
‘They didn’t work when tried by a Republican (Nixon) and they won’t work under a Democrat, however strong the ‘vibes,’” Gregg noted in a separate post. “They only cause shortages and misery.”
“Will no fiscally responsible Democrat call out this irresponsibility?”
*** end quote ***
I remember Nixon’s gas lines. (Even Odd plates in the Pepuls Republik of Nu Jerzee. We had one car and access to her brother’s with one even and one odd. So when I went to work in the “bad plated car”, she would go sit on a gas line with the “good plated car”. Sometimes for hours. What a total waste of attention, time, and resources across all of society.)
I remember, that when I started driving in the sixties, three silver dimes would buy a gallon of regular gas. Today those same three silver dimes, sold to a coin dealer would get you 6$, which would buy a little less that 2 gallons of regular gas. And, today the gas is better and goes further. Even after food (cord) is turned into “fake gas” and adulterated into regular gas. Argh!
SO what happened between the 1960’s and the 2020’s?
The FED “printed” a shit load of dollars which the politicians spent like drunken sailors (at least sailors spend their own money). More dollars change the same amount of goods leads to inflation.
“Inflation is theft, you’re stealing value from people who save money.”-Ron Paul
William Rusher, the editor of the conservative National Review, quoted economist Milton Friedman as saying that “if the government were to take over the Sahara Desert, there would be a shortage of sand in five years.”
So only a socialist / communist would seek price controls. What to curb inflation, #endthefed and restore fiscal discipline to the nation.
I’ve often thought the USA’s downfall has been at the hands of the Progressive Left. Some changes like ending slavery were excellent; although done very badly. Others, like the 14th, 16th, and 17th Amendments were disastrous. The opponents of the Constitution were stunningly accurate in their predictions of what could go wrong, And did!
“Would you tell me please, Mr. Howard, why should I trade one tyrant three thousand miles away for three thousand tyrants one mile away? An elected legislature can trample a man’s rights as easily as a king can.” Mel Gibson as the character Benjamin Martin in the movie The Patriot http://www.imdb.com/title/tt0187393/quotes
I hope that “We, The Sheeple” recognizes that Harris is a whore that climbed the political ladder in the most disgusting way. And, if she’s elected, then the USA is finished as a democratic federal republic. Just like all the other empires crashed on a mountain of debt, so too will the USA.
Argh!
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Leave a Comment » | Political | Tagged: 2024 presidential election, Economy, Inflation, Kamala Harris, nypost.com, Price controls, Victor Nava | Permalink
Posted by reinkefj
VOCABULARY: Ever heard of “trading sardines”
Wednesday, June 5, 2024https://www.curzioresearch.com/stay-away-from-these-trading-sardines/
*** begin quote ***
In 1896, the discovery of gold in Canada’s Yukon territory launched an era now known as the Yukon-Klondike gold rush.
Over the next two years, 100,000 miners flooded into the area in search of the next big gold strike.
But it was far from easy…
The trek was treacherous… The competition was fierce… And the weather was glacial.
During the winter of 1896–1897, the water around Alaska’s ports froze solid, which forced shipping to shut down completely.
The result was a major food shortage—and skyrocketing prices for the little amount of available supplies.
In the most isolated regions of Alaska, a single can of sardines—which cost $0.10 in New York—sold for many times that amount. And thanks to the demand from starving miners, the price kept rising.
Legend has it that one miner, desperate for a meal, bought a can for $100.
But when he went to open it, the fish was rotten.
He tracked down the seller, demanding his money back.
The seller was confused—asking the buyer why he would open the can in the first place.
He told the miner, “Those are trading sardines, not eating sardines.”
This piece of market lore is a commonly cited metaphor for speculative trading, where an asset can keep rising… and traders—suffering from FOMO (fear of missing out)—keep bidding the price higher. Meanwhile, the asset is—from a practical standpoint—worthless.
*** end quote ***
Leave a Comment » | VOCABULARY | Tagged: Finance, Financial jargon, growth stocks, Inflation, tech | Permalink
Posted by reinkefj
ECONOMICS: Measuring the FED’s inflation over time
Saturday, February 3, 2024https://schiffgold.com/commentaries/wildest-inflation-red-flag-vegas-table-limits/
Wildest Inflation Red Flag: Vegas Table Limits | SchiffGold
*** begin quote ***
Take the Las Vegas Strip. Casinos on the Strip, long known for trying to take the money of everyone from the highest high-rolling whale to the coupon-clipping low-roller camped out at Motel 6 or Excalibur Casino, are now finally admitting that some dollars aren’t worth the effort of taking. In August, the Wall Street Journal reported on the declining number of tables where you could play blackjack in Las Vegas while the amount of revenue earned from blackjack stayed high even as casinos offered worse rules to players, such as paying out 6:5 when a player receives a “blackjack” rather than the traditional 3:2. Strip casinos are also doing away with low table limits, meaning that players that want to risk $5 or $10 on a single hand of blackjack are struggling to find a game.
*** end quote ***
Wow. I remember 25¢ craps where I learned to play. And 10¢ a way Keno on 15 lines. Sigh. I miss the cheap buffets, “free” rooms, and $1 per seat “shows”. Progress? I think not; INFLATION due to the FED and Gooferment spending.
#ENDTHEFED
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Leave a Comment » | ECONOMICS | Tagged: #endthefed, Inflation, SchiffGold, Vegas Table Limits | Permalink
Posted by reinkefj
GOVEROTRAGEOUS: How about the sneakiness of the Gooferment with our “money”
Friday, November 10, 2023FROM NEXTDOOR
Ronald P. Society Hill • 2 Nov •
*** begin quote ***
The sneakiness of manufacturers!
One has to be so aware of how manufacturers dupe their customers.
We have been a big fan of Chock Full O’Nuts Coffee for many years. Always liked to wait for when the coffee went on sale for $1.99 per can. The new sale price at ShopRite reducing it from $5.69 a can is now $2.99. We put the coffee in a canister instead of using it out of the can. Suddenly the canister did not get filled. Apparently the amount of coffee that is now in the can is 10.3 ounces instead of 13 ounces! So now the sales price went up 50% and the quantity of coffee went down over 20%.
I have found that manufacturers slip in a new reduced package size when they put the item on sale and customers don’t pay attention to the quantity.
This is not unique to this company but seems to be practiced widely. It is always buyer beware.
*** end quote ***
Let’s not ignore the Gooferment’s role in all of this.
It has inflated the number of dollars in circulation by several trillion.
Don’t you think that has some role in all this?
See my blog rants about penny candy, nickel cigars, and dime comics!
Shrinkflation is the manufactures’ response to a dollar devaluation.
“Dollar stores” are proliferating because that’s what people can afford.
I can’t imagine shopping for food in a dollar store, but I think we are going to see more of this. Not less.
Time to vote the clowns out and just resist.
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Leave a Comment » | GOVEROTRAGEOUS | Tagged: FED, Inflation, shrinkflation | Permalink
Posted by reinkefj
DISCOURAGING: What’s messed up and what’s not
Saturday, March 18, 2023*** begin quote ***
Pretty sure everyone with even a couple of functional brain cells can see that everything is falling apart. Whether by design or coincidence can be debated, personally I believe it is a mix of by design and unintended consequences thrown in for good measure. Inflation, Crime, Random acts of violence, a failed public education system, supply chain malfunctions, work force participation, illegal immigration, food shortages, sheer Government incompetence, Polarization and Deep Divisions, A general mix of fear and hostility out in society. The list just keeps going to the point that the list of things NOT wrong and messed up is a lot shorter than the list of things that ARE wrong and messed up.
*** end quote ***
I’d point out the SVB depositors bailout as a “national disaster”.
—30—
Leave a Comment » | DISCOURAGING | Tagged: a failed public education system, CRIME, food shortages, illegal immigration, Inflation, Random acts of violence, sheer Government incompetence, supply chain malfunctions, work force participation | Permalink
Posted by reinkefj
MONEY: “Paper money eventually returns to its intrinsic value – zero.” -Voltaire, 1694-1778
Thursday, March 16, 2023FROM AN EMAIL FROM BITCOIN.COM
*** begin quote ***
Unlike dollars, there will only ever be 21 million Bitcoin
“Paper money eventually returns to its intrinsic value – zero.” -Voltaire, 1694-1778
The history of fiat money (ie. money issued by government decree) shows that governments consistently increase supply far beyond demand. This invariably leads to devaluation of the currency over time, something that we experience as inflation. Looking at some examples:
The U.S. dollar has lost 96% of its value since 1913
The euro has lost 40% of its value since 1997
The pound has lost 99.602% of its value since 1751
“It’s going to be very hard to unseat bitcoin as a store of value, because it’s got a 14-year brand, and there’s a finite supply.” — Billionaire investor Stanley Druckenmiller
*** end quote ***
I have put some spare change into ₿ and bullion on the off chance that the USA goes into a hyperinflation. Based on the spending by Congress and the “printing” by the FED — The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians. — I think more and more that this is a distinct probability. Look at Turkey, Venezuela, Nigeria, and many other countries. That’s what a runaway inflation looks like.
YMMV FWIW FAIWWYPFI
“Bullets, beans, bandaids, bullion, booze in a safe retreat” — Unknown
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Leave a Comment » | MONEY | Tagged: euro, FED, Federal Reserve System, Inflation, Pound, U$D | Permalink
Posted by reinkefj
MONEY: “Blue Light Special” announcement — fiat currencies like the U$D are being stolen by “inflation”
Wednesday, May 11, 2022The 5 Stages Of Getting Orange-Pilled
https://www.zerohedge.com/crypto/5-stages-getting-orange-pilled
— via my feedly newsfeed
# – # – # – # – #
I’m at “acceptance and hope” stage. Back when the employment model switched from “lifetime employment” to “job hopping/consulting”, I told my turkeys that there was now “Blue Light Special” announcement like at the now defunct Kmart to tell them that “the game” had changed. So to, now, imho, the “financial game” has changed and no announcement is being made. Bitcoin, alternative forms of money, and other commodities are replacing fiat currencies like the U$D, Euro, and others. Only the Russian Rouble has made the shift. All other forms of fiat are subject to “inflation” aka Gooferment Theft.
Unfortunately, not many have gotten the “non-announcement” and so will pay the tax and take the losses. Heaven help the bond holders who will get triple screwed (i.e., inflation, loss of income, and loss of capital value) when the 1/7 seesaw rocks against them (i.e., 1% rise in interest rate yields a 7% decrease in the dollar value a bond).
FWIW YMMV and TANSTAAFL (“There Ain’t No Such Thing As A Free Lunch” From Robert Heinlein’s classic)
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Leave a Comment » | MONEY | Tagged: alternative forms of money, BITCOIN, Inflation, Kmart, lifetime employment, Orange-Pilled, Russian Rouble, zerohedge | Permalink
Posted by reinkefj
MONEY: Has time finally run out?
Wednesday, March 16, 2022Peter Schiff Warns Tucker Carlson: Inflation Only Has One Way To Go!
BY TYLER DURDEN
TUESDAY, MAR 15, 2022 – 08:11 AM
Via SchiffGold.com,
*** begin quote ***
Last week, we got another big jump in consumer prices with the February CPI data. Peter Schiff appeared on Fox News with Tucker Carlson to talk about the rampant inflation. He said it’s only going to get worse. Inflation only has one way to go.
*** end quote ***
I’ve blogged about this self-inflicted national disaster for decades. Been aware of the problem since the late 60’s.
And, I hope that I don’t I’ve to see some very ugly chickens come home to roost.
The problem is the FED! The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.
When will “We, The Sheeple” wake up?
If, ever!
—30—
Leave a Comment » | MONEY | Tagged: Inflation, Peter Schiff, SchiffGold, Tucker Carlson, TYLER DURDEN | Permalink
Posted by reinkefj
RANT: Once again, I’m forced to agree with Piers; Biden has earned the scorn of the electorate
Thursday, December 9, 2021PIERS MORGAN: President Biden’s shameful move to muzzle the US media is a cynical and desperate Kim Jong-un style attempt to hide the fact that his presidency is turning into a total disaster
By PIERS MORGAN FOR MAILONLINE
PUBLISHED: 10:01 EST, 8 December 2021 | UPDATED: 10:25 EST, 8 December 2021
*** begin quote ***
It’s the kind of thing that regularly happens in Russia, China or North Korea.
When journalists stray too far above their totalitarian-controlled station and dare to hold their political leaders to any form of proper account, they get a visit or phone call from shady Government officials.
*** and ***
I wonder what it could have been that suddenly turned the media so negative against the President?
Oh wait, I remember.
- August was when the cowardly leader of the free world threw millions of Afghanistan women to the Taliban wolves with his shocking sudden withdrawal of US troops, betraying American allies and costing many lives.
- Then he authorized a disastrous botched drone strike on a terror suspect in Kabul that killed an innocent family of 10 including women and children.
- In September, fresh mayhem erupted on the Southern border due to catastrophic mixed messaging from the Biden administration and Americans watched in horror as US border patrol horsemen charged into Haitian migrants. The President shamefully blamed his guards for the chaos, not himself for causing it.
- In October, Biden tried to criminalize American parents who protested against their kids being taught woke agenda subjects like Critical Race Theory by encouraging the National Schools Board Association to disgracefully brand them ‘domestic terrorists.’
- Later that month, America ground to a virtual shuddering halt with a vast flotilla of cargo ships stuck off the Californian coast, and a chronic shortage of food-delivery drivers causing empty shelves to appear right across the country.
- This was a direct consequence of Biden’s reckless desire to behave like an all-year-round Santa Claus with his massive Covid-19 stimulus spending spree that sparked the inflation that provoked this crisis.
- Prices surged, especially at the fuel pump, wages stagnated, and vast swathes of the American workforce quit their jobs because their President made it more economically beneficial for people to stay at home than go to work.
Yet far from the media giving Biden a tougher time than Trump over all this, as Milbank suggests, most of them went out of their way to defend him.
*** end quote ***
Once again, I’m forced to agree with Piers. Despite being on a different page politically than he is, here I think he is spot on.
As Bill Clinton always said “It’s the economy stupid”. And Sleepy Old Joe has screwed the pooch on that one.
Single handedly, killing the Keystone pipeline and making US oil difficult to get out of the ground, he has take the US from net-exported to begging OPEC for help.
Stupid, stupid, stupid.
Piers has assembled a great list of the difficulties that Joe has put himself in.
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1 Comment | Ranting | Tagged: Afghanistan, biden, Covid-19 stimulus spending, drone strike, Inflation, National Schools Board Association, Piers Morgan, Southern border, US media | Permalink
Posted by reinkefj
GOVEROTRAGEOUS: Social Security is the biggest Ponzi scheme ever!
Friday, November 26, 2021
# – # – # – # – #
I usually joke that I have to live to 132 to steal all my soccer contributions back.
Now I’m not even sure that will be enough.
How did “We, The Sheeple” ever let the FDR and his socialists pull off the greatest theft in human history?
Now, how do we unwind it?
—30—
Leave a Comment » | GOVEROTRAGEOUS | Tagged: Inflation, Social Security, SOCIALISM, theft, theft by fraud | Permalink
Posted by reinkefj
MONEY: Inflation deception — what goes up; never ever comes down
Wednesday, June 30, 2021https://www.zerohedge.com/personal-finance/inflation-transitory-heres-your-simple-test
Is Inflation “Transitory”? Here’s Your Simple Test
BY TYLER DURDEN
THURSDAY, JUN 17, 2021 – 09:50 AM
Authored by Charles Hugh Smith via OfTwoMinds blog,
*** begin quote ***
Is inflation “transitory” in your household budget? Really? Where?
The Federal Reserve has been bleating that inflation is “transitory”–but what about the real world that we live in, as opposed to the abstract funhouse of rigged statistics? Here’s a simple test to help you decide if inflation is “transitory” in the real world.
Let’s start with some simple stipulations: price is price, there are no tricks like hedonics or substitution. Nobody cares if the truck stereo is better than it was 40 years ago, the price of the truck is the price we pay today, and that’s all that matters.
(Funny, the funhouse statistical adjustments never consider that appliances that used to last 30 years now break down and are junked after 3 years–if we adjusted for that, the $500 washer would be tagged at $5,000 today because it has lost 90% of its durability over the past 30 years.)
*** end quote ***
My readers, acquaintances, friends, and anyone who will listen to me is probably tired of hearing me whine about “penny candy”, “three silver dimes for a 1965 gallon of gas”, “my long gone father-in-law’s fifty dollar bill”, and “the dollar losing 99% of its purchasing power in 50 years”.
I don’t know how else to make “We, The Sheeple” realize that the politicians are robbing us blind.
Argh!
All I can say is save your nickels; at least they have some intrinsic value.
—30—
Leave a Comment » | MONEY | Tagged: father-in-law’s fifty dollar bill, Inflation, penny candy, the dollar losing 99% of its purchasing power, three silver dimes | Permalink
Posted by reinkefj
MONEY: Penny candy and other economic lessons
Wednesday, April 14, 2021https://schiffgold.com/interviews/peter-schiff-with-tucker-carlson-inflation-is-a-painful-tax/
Peter Schiff With Tucker Carlson: Inflation Is a Painful Tax
APRIL 6, 2021 BY SCHIFFGOLD
*** begin quote ***
We’re told inflation isn’t a problem. But a quick trip out to the grocery store or to fill up your car with gas tells you otherwise. Prices are going up. Peter Schiff recently appeared on Tucker Carlson’s show to talk about inflation. He said the price of everything is going up and the value of everything is going down.
It’s clear that prices are rising.
*** end quote ***
I’m tired of ranting about inflation.
Just do a search on the blog for “three silver dimes” and you’ll see some of my best examples (i.e., the Roman’s cloak, penny candy, 1968 gas prices).
It all comes down to the politicians and bureaucrats having an incentive for silent taxes. If some Gooferment goon came in every year and seized 2% of your wealth (i.e., 2/100ths of your house), then you’d understand.
I don’t know what I can write that will make the point of inflation is due to the FED. (The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.)
Sure the rich, the elite, politicians, and bureaucrats love inflation.
It’s a racket.
“It’s a big club, and you ain’t in it! You, and I, are not in the big club.” — George Carlin
https://www.youtube.com/watch?v=i5dBZDSSky0
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Leave a Comment » | MONEY | Tagged: FED, Federal Reserve Bank, George Carlin, Inflation, penny candy, three silver dimes | Permalink
Posted by reinkefj
GOVEROTRAGEOUS: Eric Peter’s Reader Rant! “We” Need and “I Believe”…
Sunday, June 17, 2018
Here’s the latest reader rant, with my comments below: Dave writes: I went for years as a healthy individual until a staph infection last April. Almost died. I am 75. You never know when it is your turn to be sick . So I am on the state insurance called Medicare.
Source: Reader Rant! “We” Need and “I Believe”…
*** begin quote ***
I agree that you never know when it is your turn to be sick. But that is not the issue. The issue – the moral issue – is whether your sickness and associated expenses impose an obligation upon me enforceable at gunpoint. And mine on you. My position is that they do not. That your life is yours and mine is mine and we each ought to be free to live our lives as we think best; to plan for life’s exigencies and regardless of them, accept that our problems, whether the result of irresponsibility or not, don’t give us the moral right to pick up guns and point them at other people.
*** end quote ***
As a little L libertarian, I agree that essentially EVERYONE is responsible for their own care. However, under the guise of “insurance”, the Gooferment has made many promises, suggestions, “spins”, and innuendos about “coverage”. So it’s no wonder that one of the “clovers” (Peter’s name for “We, The Sheeple”) is confused. Given the “education” that passes for what happens in Gooferment Skrules, it’s no wonder that the disaster is ongoing.
I empathize with those of us in the same boat. The Gooferment has stolen our savings by “taxation” and “inflation” in exchange for (non-existent) “protection” and (bankrupt and misrepresented) “insurance”.
What’s a crime victim to do?
— 30 —
Leave a Comment » | GOVEROTRAGEOUS | Tagged: Gooferment Skrules, Health Insurance, Inflation, Medicaid, Medicare, Obamacare, Social Security, taxation, theft | Permalink
Posted by reinkefj
MONEY: The penny is a symbol of the effect of inflation of the US$
Thursday, April 13, 2017http://deviantinvestor.com/8711/death-of-penny/
Death of Penny – What It Means!
Posted on April 6, 2017 by Gary Christenson
By Stefan Gleason, Originally Published on Money Metals Exchange
*** begin quote ***
The dollar’s reign as the world reserve currency will come to an end someday. But before that happens, the penny will likely go into the dustbin of monetary history.
U.S. pennies have already been debased – going from 95% copper before 1982 to just 2.5% copper (and 97.5% zinc) since. Now there’s a push afoot in the Senate to junk the penny entirely.
All the sound and fury Republican leaders made about repealing Obamacare signified nothing. They aren’t eager to betray the healthcare lobby, insurance providers, and pharmaceutical companies who worked with Congress to write the law and who paid so handsomely into campaign funds. They would rather betray voters.
*** and ***
The decline of the value of the penny toward functional obsolescence is a sad statement about our monetary system. But rather than address the underlying problem of inflation and exploding national debt, politicians like John McCain want to just eliminate the evidence of the financial establishment’s misdeeds.
*** end quote ***
This is a national wake up call if any of “We, The Sheeple” are listening.
Your wealth is being stolen by inflation. Faster the “Chinese water torture” of old westerns, the FED has reached into your pocket while you were sleeping or watch the “Circuses”.
Argh!
I blogged several times about the real life examples of what this theft looks like to the average joe (i.e., my sainted father-in-law’s 50$ bill; the real meaning of a double eagle; fiat versus commodity money).
So much so, I’m tired of the topic. You just DON’T get it.
Argh!
# – # – # – # – #
Leave a Comment » | MONEY | Tagged: fiat currencies, Inflation, unit of account, unit of exchange, unit of measure | Permalink
Posted by reinkefj
MONEY: Save the penny; it’s educational
Friday, May 22, 2015http://www.makeuseof.com/tag/keep-using-cash-support-killing-penny/
If You Want People To Keep Using Cash, Support Killing The Penny
By Justin Pot on 15th May, 2015
*** begin quote ***
There’s quote you might have heard.“A penny saved is a penny earned” -Ben Franklin
First: Franklin never said that. Second: adjusting for inflation, an early 1800’s penny is worth about 25 cents today. With these points in mind, I propose the following update: “A quarter saved is a quarter earned” -Unknown
My point is simple: when the penny was worth more, no one saw the need for a piece of currency valued at 1/25th of a penny. Creating something like that would have been stupid, because you couldn’t have bought anything with it.penny-bucketToday, it’s nearly impossible to find anything that costs one cent. Anywhere.Seriously: try to find anything that costs a penny. You’ll have to resort to a single nail at the hardware store, but when you try to pay for it with your penny the clerk will probably tell you not to bother – saying to just take the nail and leave.
*** end quote ***
I disagree. The penny is an in your face constant reminder that the Gooferment, specifically the FED (i.e., Ferderal Reserve Bank) … …
— The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians. —
… … stolen the wealth of the world by inflation. I insist on ranting every time some wants to get rid of the penny, by pointing to Ron Paul and the evils of fiat currency.
Without the Fed’s fiat currency, WW1 and WW2 could not have been fought and the current welfare / warfare state would be impossible.
The penny is the “canary in cage” for the national debt, the deficit, the unfunded liabilities, and the out of control spending.
Keep the penny and let’s not forget WHY it’s worthless!
If you doubt any of this rant, listen to the Tom Woods podcast http://tomwoods.com/podcast/ep-397-the-fed-the-lifeblood-of-the-empire/ and how the FED enables war.
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Leave a Comment » | MONEY | Tagged: FED, Federal Reserve Bank, fiat currency, Inflation, penny, Ron Paul | Permalink
Posted by reinkefj
MONEY: Default is unavoildable
Tuesday, February 19, 2013http://lewrockwell.com/north/north1264.html
— begin quote —
Will the federal government default? Yes. Will investors learn their lesson? Not for long. But for a time, yes.
Here is the lesson: Do not trust a politician who says America cannot, must not, and will not default.
Here is the rule: “Never believe a rumor until it is officially denied by the government.”
Obama has officially denied it.
It’s coming.
— end quote —
Regardless of how you define “default”, what the FED is doing in buying debt with more paper, is de facto default.
So what the individual to do?
Buy assets that are not dollar denominated.
Bullion coins are my favorite. Nickles too.
Diversify. Pay off debt. And “get small in your hole”. (Any vet knows what that means!)
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Leave a Comment » | MONEY | Tagged: FED, fiat currency, Inflation, Moral Hazard | Permalink
Posted by reinkefj
RANT: The four insideous taxes
Sunday, February 3, 2013”“Florida is a state of choice,” said Thalius Hecksher, global development chief for Apex Fund Services, who moved many of his operations to Palm Beach. “It’s organically grown. There’s no need to drag people down here. It’s a zero-income-tax jurisdiction.”” http://buff.ly/WszLB0 Should have done it year ago!!!
‘Wall St.’ flees NY for tax-free Fla.
The city’s hedge-fund executives are flying south — and it’s not for vacation. An increasing number of financial firms, especially private equity and hedge funds, are fed up with…
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Don’t forget FOUR insidious taxes that you don’t see: (1) the inflation tax — the FED has destroyed 99%of the value of the dollar in the last three or four decades; (2) the gas tax — gets added into every product sold and into every capital good used to make products, or deliver them; (3) the corporate tax — corps don’t pay tax, people do, they just pass it on; and (4) the estate tax — that turns productive assets into legal fees and schemes to avoid it as opposed to capital investment that improves society’s wealth — say goodbye to the family farm or a families’ small business. I’d assert that (a) the true tax rate is incalculable because it’s so well hidden; (B) it crushes the poor and middle class; and (c) some years we pay more than 100% of an annual year’s earnings in taxes! The loss of purchasing power means real savings goes down DESPITE rising account balances!!!!!!!!!
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Leave a Comment » | Ranting | Tagged: Corporate Tax, estate tax, Gas, gas prices, gas tax, Inflation, poor, Taxes, theft | Permalink
Posted by reinkefj
MONEY: What have we allowed to be done?
Sunday, December 9, 2012http://www.cmi-gold-silver.com/blog/government-money/
Book Review: What Has Government Done to Our Money?
*** begin quote ***
In the United States we currently have a stated policy by the Federal Reserve to create higher levels of inflation while artificially lowering interest rates. This is a policy devastating to savers and those attempting to live off of the proceeds of their capital. How did we arrive at the point where a government created agency can arbitrarily opt to destroy the value of people’s savings?
Murray Rothbard’s What Has Government Done to Our Money? lays out the step by step process by which the commodity based monies of the free market are slowly and deliberately usurped by governments and their central banks. The end result of this control is the ability of government to take purchasing power from the savings of its citizens through inflation.
Understanding money and its creation are essential to understanding how inflation originates. Rothbard assumes no prior knowledge of the subject and begins with first principles to derive what money is and how it is used in a free market. He then covers the manipulations used by government to wrestle control of money away from the free market. Finally he finishes with a two hundred year history of money and currencies in the Western world. It is through this history he demonstrates how government abuse has resulted in a series of breakdowns of the dollar with respect to gold that have inevitably led to our current global monetary crisis.
*** end quote ***
We have allowed the politicians and bureaucrats to inflate the paper currency and silently steal from everyone — rich and poor alike — their wealth. For the poor, it’s the value of their labor. For the rich, it’s the value of their savings.
argh!
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Leave a Comment » | MONEY | Tagged: Commodities, Inflation, wealth | Permalink
Posted by reinkefj
ECONOMICS: Tweedle dee and Tweedle dumber!
Monday, October 22, 2012http://cafehayek.com/2012/10/no-debate-both-are-economically-ignorant.html
No Debate: Both Men are Economically Ignorant
by DON BOUDREAUX on OCTOBER 17, 2012
in SEEN AND UNSEEN, TRADE
*** begin quote ***
Each man insists that America’s economy can be harmed by inexpensive imports – in other words, harmed by opportunities for voluntary exchanges that lower Americans’ cost of living.
By promising to raise taxes on Americans who buy Chinese-made goods, Mr. Romney again promised to break his campaign promise to not raise taxes. That he is unaware of the contradiction isn’t promising.
Mr. Obama is no better. He bragged that he “saved a thousand jobs” with his “tough” trade action that – by raising taxes on Americans who buy Chinese-made tires – ensured “that China was not flooding our domestic market with cheap tires.”
By this logic, the President’s policy is inexcusably lame. If creating more jobs in U.S. tire factories justifies forcing consumers to pay higher prices for tires, the Obama administration should also outlaw the sale of used tires (which, like low-priced imports, are “flooding our domestic market”). Indeed, the president should seek legislation mandating that all rubber used to make tires be non-vulcanized. The resulting decline in tire durability will create even more jobs in U.S. tire factories by “protecting” our market from being “flooded” with cheap tire durability – that is, with tires that last for tens of thousands of miles before needing to be replaced.
*** end quote ***
It’s hard to imagine that there is any rationale for restrictions?
Do we want to be a nation of tire makers?
In the Sixties were more expensive for a poorer quality. Now they are “cheaper” and more durable.
(Remember that the value of money has been inflated away. Gas is up by a multiple of 100 in dollars but about 50% cheaper in silver. Tires in the Sixties ran about $20 each; some more some less. Priced in gold a tire was 20/35 = 4/7 = 0.57 oz. So today, just recently I paid over 100$ per tire; where as I should have paid over a 1k$ each. SO tires have gotten 90% cheaper. It’s the value of money that obscures our vision.)
I want Americans to have cheap tires so they can spend their money on other needs and wants.
If it means the tire industry has to go to China, all well and good.
If the Chinese are so dumb as to give us tires for worthless green pieces of paper, great!
The market will peacefully decide what gives us the most bang for our buck. With out a politician “helping”.
Argh!
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Leave a Comment » | ECONOMICS | Tagged: Common Sense, economic freedom, freedom, Inflation, Obama, SEEN AND UNSEEN, TRADE | Permalink
Posted by reinkefj
MONEY: Financial planning with old memes
Sunday, October 21, 2012http://www.businessinsider.com/the-coming-retiree-crisis-2012-10
Take Action Now To Prepare For The Great Retiree Crisis
Jeff Voudrie, See It Market | Oct. 10, 2012, 8:30 AM
***** begin quote *****
The financial planning community has largely relied on assumptions regarding equity, debt and inflation percentages that have been experienced over the last 30 years.
There are 3 problems with these assumptions:
Equity returns the last 30 years have been extraordinarily high as a result of the longest and greatest Bull market in the history of U.S. stock markets. Accordingly, many financial plans used projections that assumed equity returns of 8-10% a year.
Debt returns over the same period are equally skewed. Remember the double-digit interest rates of the 1980’s? In 1989, as a young broker, I was selling 30-year TVA bonds yielding 10%! Financial plans the last 5-10 years have used interest rate assumptions around 5-6% a year.
The scenarios that led to the historic markets the last 30 years are very unlikely to EVER be repeated in today’s retiree’s lifetime. And those who are taking distributions based on these outdated assumptions may soon run out of money.
For instance, let’s assume that someone retired 5 years ago at age 60 with a $500,000 investment portfolio. Based on financial plans popular at that time, the retiree is taking $2500 a month in distributions—money they need to maintain their current standard of living. Since the plan anticipated the ability to average a 7% return on a portfolio with close to 50% in equities, the retiree expects to be able to take those distributions and never run out of money.
Adjusting those assumptions based on what many believe resembles more reasonable assumptions going forward requires decreasing the rate of return assumption for a similar-risk portfolio to around 4% and increasing the inflation assumption from 1-2% a year to 3-4% a year (which may still be too conservative). Suddenly, the portfolio that should last forever is now projected to be exhausted in only 16.8 years! That means that the entire nest egg and what it earns cannot sustain the current withdrawal rate. Since the retiree started the withdrawals five years ago, now they are down to 11.8 years—running out of money around age 76!
***** end quote *****
Clearly, the political class has screwed up the American economy.
Pity the poor, the elderly, the middle class, those on fixed income.
Inflation is grossly understated by the “official” stats.
Are we headed to be like Europe or pre-WW2 Germany?
Clearly, everyone needs to update their financial plans.
I’ve recommended to my turkeys that they adjust their “money reserve requirements”.
Everyone better plan to work for a longer time.
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Leave a Comment » | MONEY | Tagged: Economics, FED, Inflation, Moral Hazard, Morality, Tax Revolt | Permalink
Posted by reinkefj
MONEY: PT is less than AU?
Thursday, October 18, 2012
KITCO Metals quotes
Take a look at the price of platinum versus gold.
What does this signal?
Price manipulation in the commodities markets in advance of the election?
Wonder when we’ll hear about the derivative contracts that are used to move the market.
Argh!
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Leave a Comment » | MONEY | Tagged: GOLD, Inflation, MANIPULATION, PLATINUM | Permalink
Posted by reinkefj
FUN: Luddite submits a “gas” joke!
Saturday, October 13, 2012Every once in a while, Luddite comes up with a good one!!!
Yeah, and there’s no inflation!
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Leave a Comment » | FUN | Tagged: BHO44, Gas, Inflation | Permalink
Posted by reinkefj
MONEY: How can anyone not count food and gas in the CPI?
Sunday, February 12, 2012http://www.veteranstoday.com/2012/02/05/hows-that-change-working-out-for-you
How’s that “change” working out for you?
Sunday, February 5th, 2012
Posted by Ed Mattson
*** begin quote ***
These government “number slingers” are the same bunch that tells you the Consumer Price Index increased 3.0 percent before seasonal adjustment to end 2011. Let’s see… 3% inflation. Do you really believe that? Have you been shopping lately? Have you purchased gasoline or diesel for your vehicle so you could go to work (if you still have a job)? Oh, that’s right. THEY DON’T COUNT GAS AND FOOD IN THE INFLATION RATE! I guess we don’t need food or gasoline.
In most families the women do most of the grocery shopping right? Men usually aren’t always up to current grocery store prices. Next time anyone talks about politics and how things are going, just ask them if they have purchased ten pounds of potatoes this past year, or stopped in at a gas station. In 2009, 10 lbs of potatoes cost about $3.50 in Western Michigan (about $3.00 at Wal-Mart). Today the cost is over $5 any place you want to shop. Gas was $1.79/gal when Obama’s entourage slithered into Washington and today, down at the local discount gas station here in North Carolina, it’s $3.59. Is it any wonder they DON’T CALCULATE FOOD AND GAS INTO THE CPI?
*** end quote ***
Excellent point. If they did then they’d have to give a COLA to all the old folks.
It’s like the scam with ZERO interest rates by the FED. That keeps Uncle Sam’s 15T$ debt as a near zero expense.
When do “We, The Sheeple” wake up?
When does the World wake up?
You’ll know the scam is over when we have to pay for oil in gold or someone else’s national currency.
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Leave a Comment » | MONEY | Tagged: CPI, GOLD, Inflation, inflation rate, interest, interest rate, NATIONAL DEBT, Oil | Permalink
Posted by reinkefj
MONEY: Confiscation Through Inflation
Thursday, February 2, 2012http://www.youtube.com/watch?v=DObOzOMhXvE&feature=colike
Confiscation Through Inflation
Uploaded by DollarDazeDotOrg on Dec 8, 2010
Through continual issuance of the currency, the U.S. dollar has depreciated in value when compared to gold.
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Spot on!
It gets even worse when you consider the debt being run up. It can never be repaid.
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Leave a Comment » | MONEY | Tagged: Confiscation, depreciated, dollar, Inflation | Permalink
Posted by reinkefj
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