MONEY: Has time finally run out?

Wednesday, March 16, 2022

https://www.zerohedge.com/personal-finance/peter-schiff-warns-tucker-carlson-inflation-only-has-one-way-go

Peter 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!

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RANT: Once again, I’m forced to agree with Piers; Biden has earned the scorn of the electorate

Thursday, December 9, 2021

https://www.dailymail.co.uk/news/article-10288391/PIERS-MORGAN-Bidens-attempt-muzzle-media-desperate-move.html

PIERS 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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GOVEROTRAGEOUS: Social Security is the biggest Ponzi scheme ever!

Friday, November 26, 2021

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# – # – # – # – #

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?

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MONEY: Inflation deception — what goes up; never ever comes down

Wednesday, June 30, 2021

https://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—

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MONEY: Penny candy and other economic lessons

Wednesday, April 14, 2021

https://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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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?

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MONEY: Save the penny; it’s educational

Friday, May 22, 2015

http://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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MONEY: Default is unavoildable

Tuesday, February 19, 2013

http://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!)

–30–

 

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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.

http://www.nypost.com

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!!!!!!!!!

–30–

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