Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Are You Ready for the Golden Revival?

March 2, 2009 by  

Are You Ready for the Golden Revival?

Congress has passed a $787 billion spending bill aimed at—congressional Democrats said—stimulating the U.S. economy. But it won’t stimulate anything other than the green ink and paper industry. Because it is an excuse for the Federal Government to turn its money-printing presses on full speed and keep them running 24/7.

This type of stimulus package is doomed to fail. The French tried something similar in the 18th Century when John Law was retained to advise the government in economic policy. He advocated that money was credit and credit was determined by the needs of trade. Therefore, the money in existence is determined by the supply of credit in the economy rather than the imports of gold or in trade balances. So Law proposed the establishment of a state-chartered bank with the power to issue unbacked paper currency. Sound familiar?

Within four years France’s Banque Générale collapsed following a run on the bank, and France and the rest of Europe were plunged into a severe economic recession. The result of Law’s banking schemes so traumatized the French people that until recently the very word “banque” was anathema to the French financial community.

A similar experience hit Germany in the early part of the 20th Century. From 1918 to 1923, the Weimar Republic began printing money at a dizzying rate, setting off hyperinflation. Prices were rising so fast that workers receiving their pay would immediately run to the store to buy foodstuffs before prices climbed again. In trying to keep up with the falling currency rate, Reichsbank printed a 1,000-billion Mark note that was so worthless that when it was spent few bothered to collect the change. By 1923, with one dollar equal to one trillion Marks, the collapse of German currency was complete.

Fast forward to 2009 in the United States. Less than a year after the Fed authorized spending $850 billion to spur the economy the Congress is already doubling the spending. Where does the money come from? Thin air.

It is fiat money, based on nothing. And it dooms the country to an economic collapse.

There’s one way to prepare yourself, and you need to begin immediately. Buy gold, as its value is about to soar! How do we know? We use history as our guide.

At the peak of the bull market in the 1920s, the Dow Jones Industrial Average was more than 20 times higher than the price of gold. When the market crashed it bottomed out at about 36, roughly a 1-1 ratio with the price of one ounce of gold. The next boom came in 1966, and again the Dow was worth 20 times the price of one ounce of gold. When the bottom of the next recession hit the Dow was worth about 850 points and gold was about $850 per ounce.

Next came the bull market that began in 2003. The Dow peaked at 14,164.53 on Oct. 9, 2007. That month gold hit $750 per ounce, which was Dow-to-gold ratio of almost 19-1. Since then the Dow has lost almost half its value and gold is climbing. Look what gold can do as it approaches a 1-1 ratio.

Gold doesn’t even have to reach a 1-1 ratio to give spectacular returns. Consider, with gold at $940 and Dow at 7,000, the ratio is at 7-1. Even if the Dow contracts another 1,000 points, gold at 3-1 would more than double in price to $2,000.

It’s difficult to argue with history, but if you’re still afraid to go with gold you have an alternative. Buy stock in green ink.

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

Facebook Conversations

Join the Discussion:
View Comments to “Are You Ready for the Golden Revival?”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

  • http://none Jack C. Bloedorn

    I have just read the “results” of your poll regarding the stim package. In brief, I do not believe you. It appears that your figures are made up to satisfy the ultra conservative “no mentality”. When will you people be honest? When will you address reality?

    • uponroof

      Heres’ the truth which must be recognized. Those on the left believe those on the right to be playing the politics of destructive demagoguery. Those of the right believe those on the left to be giving unjustified support to an extremist. During the prior administartion the roles were reversed.

      Please try to understand this, I say as one without what you would consider a political agenda as I have divorced both parties years ago. It’s obvious the 2 party system has failed us miserably. WAKE UP!

      No one can truly believe that Obama or McCain were the best candidates America could muster. NO WAY! How did we come down to these two as our best? Likewise, Al Gore or George Bush prior.

      My point is we are guilty of an apathy which allowed this system to degenerate to a point of utter corruption. Naturally it’s now failed us. Trying to support or tear down specific parties or leaders at this time is foolish. We are facing a crisis which will reshape history. The old system is dead.

      Forgetting the irony of absent presidential stereotypes and how those actions (crimes?) ushered in the present socialist let’s try to understand what the root problem might actually be (regardless of party affiliation).

      In 1971 free enterprise authorities enthusiastically embarked on the theory of ‘fiat monetarism’ (which is by the way now disowned by its author- the repentant Milton Friedman). This theory has proven to be the most egregious violation of common sense in financial history.

      This license to print money out of thin air was simply too intoxicating for governments and central banks to endure. Instead of dutifully regulating capitalism they went completely mad with the unbridled power and greed it licensed.

      Central banks ‘balanced’ their government books, and oversaw private sector ‘balancing’ by creating real debt with fictitious money. Debt has now reached levels which are best illustrated through solar system distances.

      As the direct and eminently predictable result, inventive greed accelerated through this easy money system to the point of derivative catastrophe. None of this could’ve happened if easily printed money, which provides political power for both parties, had been eliminated years ago.

      Spend your energy demanding an independent, such as Ron Paul, be given a chance. And until the system crashes and an independent who is truly in love with America can wrestle the corruption out of Washington…buy gold, silver, ammo and land as far away from urban areas as possible. Sound crazy to you? Check back with me in a few years. I’ll eat my truck if I’m wrong.

      • Aman

        That won’t be necessary uponroof. I share you’re sentiment regarding the current crisis and the future of the country. At the time of this posting the stock market seems to be making a substantial comeback in the wake of five days of selling. But, both you and I know the worse is yet to come. The great pretender, Obama said something positive yesterday that was absolutely brilliant ” Stocks are at an all time bargin.” But the gangsters on Wallstreet occassionaly like to throw us a bone just to keep us guessing. Like you, I have abandoned the two party system and you are correct regarding presidential stock. It’s pathetic! Things wouldn’t be much better under McCain who clearly was in on the fix. For helping Obummer getting elected, I’m certain Obummer is going to award him with the congressional metal of honor. Something I believe he should of been awarded pending his release from captivity. But, in saying that, his ability to lead a nation I’m sorry to say is nothing to be desired. At least Obama was and continues to be up front about his destruction and hence change for America. I know where he i.e. Obama is coming from, because he wears his anti american, white hating badge of honor on his sleeve. McCain on the other hand must of taken multiple blows to the head when he was being tortured and I believe that has interfered with his ability to think clearly and with common sense. Gold, ammo, and worthy things to barter with are good things to have right now!

      • Craig

        And if your not sure about the word apathy and how it applies to so many “dumbed” American’s, Google apathyology.com. The practice of selective caring!!!

      • steve b

        To uponroof

        I agree with you 100%. I and others need to stockpile those items you mentioned. May God have mercy on us and our country.

    • Ann McNabb

      Jack, you must read a book, Lords of Finance, The Bankers Who Broke the World, by Liaquat Ahamed. It is a book of history, and VERY relevant to what is happening today! It has nothing to do with liberal or conservative, just common sense and economics. Those who do not understand history or don’t care, are doomed to repeat it (and take us down with them , too).

  • Travis

    The Fed has been using a baseless currency since it abolished the gold standard at the start of the Great Depression. This wasn’t mentioned.

    I don’t think the Fed will be printing any more money Bob. Congress authorized the Treasury to borrow the money from the Fed against expected resurgence in the economy. Your conclusions are baseless and intentionally convoluted. Keep hoping Obama fails, you America haters.

    • Aman

      You said borrow the money from the FED? The Fed is in the hole to the tune of ten trillion dollars. And your comment on expected resurgence…what the hell is that?

    • Gary

      we are not “Obama Haters” nor do we want America to fail. It is exactly the opposite. We want America to prosper, that is why we hate the policys Obama is using to the destroy incentive and ruin the economy.

    • http://www.personalliberty.com Matthew Meehan

      “I don’t think the Fed will be printing any more money Bob. Congress authorized the Treasury to borrow the money from the Fed against expected resurgence in the economy. Your conclusions are baseless and intentionally convoluted. Keep hoping Obama fails, you America haters.”

      Don’t you realize that when the Fed lends money, especially at a O% interest rate as they currently are, it devalues each and every one of our American dollars? In essence it has the same affect as if they were creating/printing more money. As far as hoping Obama fails, uhum…, it’s inevitable. Fiat systems always fail. Why? Because fiat systems have no natural regulation of the creation of currency. Natural regulation only exists when our currency is based on a fixed item that is in limited supply, and the governments can’t make more of the fixed item. The result is a stable value of currency and very low inflation. Who needs Government run healthcare? Returning to a stabilized currency would fix the problem.

  • http://na suddencall

    An ultra- conservative would never search for the truth,nor would any other conservative.What they search for is a scam that they can pass off as truth.Terror is their main objective ,for they want to return our government to the third world status and the company store.

    • Aman

      Man I’m having a difficult time understanding you. Could you please clarify.

    • Ethan

      Suddencall, obviously, you wouldn’t know truth if it walked up & smacked you up side the head. There is no historic precedent, no principle of basic economics that supports the path of “economic recovery” this power-hungry socialist administration is forcing on this country. This administration is about power, not the welfare of you or anyone else. If you want big government bureaucrats dictating everything you do, how you do it, how much you can earn, how you spend your earnings ( what’s left after taxes ), what you drive, what you eat, where you live ….
      Just keep drinking the Kool-ade the liberals are pouring ….. you putz!

      Your statement would be more accurate if you replaced “conservative” with “liberal” (a.k.a “socialist”)

    • Sonny

      It sems Obama is passing all his policies based upon fear, Terror. Fear. So what’s the difference?

      The real problem is that the legislators in Washington, D.C. are mostly economically challenged except for Ron Paul and a couple of others.

      • Gary

        Fear? Terror? You just described the 8 years of Bush. His entire political platform was based on WAR, TERROR and FEAR.

        Read your history.

        • Sonny

          I don’t have to read it. I lived it.

          Obama, like Bush, is using the same, tired nonsense that caused over 50% of voters to put a European Socialist into office.

          Yes, Bush (I and II) advocated a one-world government and I did make a mistake in voting for them in 1996 and 2000. But, looking at the candidates that were offered at the time, I tried to pick the lesser of two evils.

          That didn’t work very well at all. In 2008, we had to choose between the evil of two lessers: One being a European Socialist and the other being a liberal Democrat.

          Bahhh!!! Both of them were economically challanged and the result would have been the same regardless which one was elected. The only difference might have been is that McCain might not be putting the country in the dumps as fast as Obama is doing.

          If you think pushing the current account deficit up to 10 trillion dollars with an existing long term debt of 60 trillion will help matters, YOU SHOULD READ YOUR HISTORY!

  • http://www.mcsnow.com BOB FROM CLEARWATER FLORIDA

    It truly amazes me how any constructive efforts are veiwed as destructive under the cloak of bi-partisan reporting. I see examples of it in the news and even in this alert from Mr. Livingston.

    Unfortunately, there are very few suggestions that replace what’s already been done in the Congress and in the Senate. It’s all retoric that satisfies the anti Obama crowd and descourages anyone who would like to see a definate change in this country.

    We can use History as a reference, but not as a guide. Right now we are witnessing the most incredible economic time ever for the history of the United States of America. The results were all caused by unregulated banking practices, corrupt government officials gaining from the fruits of their lobbyist allies and lastly, but most important, the apathetic American Public who don’t pay any attention to anything, until it effects their money.

    Maybe that’s the source of our problem in America today. Our own greed! Maybe it’s time to at least share what we do have for those unfortunate who never had a piece of America and struggle every day just to survive. It’s time we recognize those folks and we recognize that the status quo of letting big money people and companies run the show is nothing but a reflection of our own materialistic nature in America. We need to care for more than what’s in our wallets.

    I love The USA, fought for the USA in time of war and now I want to give our new President a chance to help us turn a new leaf, solve some of the problems and begin a new era. It’s time to join me and praise our president’s bold actions being done swiftly and in such a way as to get the work done that has to be done RIGHT NOW.

    So, knock off the pessimistic junk and be patriotic. Support your President and what he is trying to do. Get off the whining and doom and gloom forecasting. Try finding the silver lining and if there is not any, I guess all of us, including you will be out of business soon.

    • Aman

      You must be a major stock holder in Disney. Man you’re living in a fantasy world.

  • kevin dartez Abbeville, LA.

    I agree we need to give President Obama a chance but, not with out question. when people say what about this or what about that, we need to eat the cherries and spit out the seed so to speak. Back in February, march, April and May of 2008 I was in four news papers concerning H-1B and H-2B Returning workers Visas for companies that could not get workers from the U.S. to work. The message was “Economical Domino Delima”. I just recently went to the website, foreignlaborcert.doleta.gov and found some interesting statistics. Because the U.S. Congress refuse to pass legislation to allow those who were coming across the border legally to not be counted on a cap that was imposed on H-1B and H2-B visas, 1,017,316,000 workers that would have paid taxes and spent money on living expenses, plus the multiplier factor, which means money companies spend to operate and company growth, did not have the opportunity to do so. Therefore about 40 Billion dollars did not come into our economy in 2008. But i’m not a Harvard or Yale graduate ,so my voice is rejected by the so called intelligent. Hey, if someone wants to come legally when there can be no Americans wanting to fill that job, I say let them come and pay the taxes that others don’t want to pay. Somebody has to pick up the slack.

    Kevin from Louisiana

  • John

    Your view of economics is really quite distorted. How do you account for existing infrastructure value, shifts in technology and communications, compression of the business cycle as a result of new technologies, comsumption and resource depletion due to emerging technologies?

    You have a simplistic, selective memory – Heres what I have seen – When Nixon defaulted on US debt by not honoring the gold backed US currency (France had demanded payment in gold) he triggered and inflationary cycle that drove inflation and then forced extreme interest rates to re-establish the value of the US dollar (the problem was solved not caused by Carter). Then Reagan squadered that stability with his transfer of wealth to the wealthy initializing trickle down economic fantasy, not only did he weaken the middle class, he also generated almost four trillion dollars in debt.

    Bush senior added marginally to that debt and Clinton actually turned deficits into surplus. Unfortunatley he was followed by Bush 2 who added another five trillion in debt during a boom bubble that should have seen huge surplus’. Simultaneously he allowed for unregulated sales of derivatives and in 2004 change the law to allow excessive leverage within the banking system that has triggerted a financial firestorm that is burning down the American and global banking system.

    If Obama did not spend a penny we would still have huge inflation because M3 which is no longer reported has been growing at over 17% a year for a decade. The idea that spending in an effort to create a firestop is the problem is ridiculous. The US is in big trouble. The good thing is that there is a man at the helm who is open to solutions that are outside the standard.

    Fresh ideas – the crys of socialism, mortgaging the childers future etc. are beyond silly, the US is a great nation, evolving and adapting to the world around it. 1950′s retoric is not the way to a successful future, the world is dynamic, ideas are good, change is inevitable, don’t be a dinosaur.

    • Aman

      What are you people…ON DOPE!

      • John

        Intelligent response

        • Aman

          Just a little political mutiny John, I’m not try’n to insult you.

      • Claire

        I believe that many in America have been brainwashed to react to one magic word, “CHANGE”. I believe they will see change soon. They will see the change left in their pockets when the current administration is finished.

  • Greg Van Hee

    The Republicans are at each other throats about who should lead the party and what track it should take. Some want to make it a “bigger tent” party (Steele) and others want to keep it a party which continues to cater almost exclusively to the very rich: huge needless tax cuts for the top 1%, outsourcing American jobs, keeping wages as low as possible and always depressing the minimum wage. providing large tax loop holes so average Americans pick up the bill for the rich, cutting health care and retirement benefits for working Americans, ignoring the suffering of 3 and half million unemployed Americans while greasing the palms of their richest campaign contributors, allowing offshore tax havens so the wealthy have another means of escaping paying their fair share of taxes. The claim that the wealthy pay the biggest share of American taxes in complete B.S. It does not take into consideration all of the means Republicans have provided them to escape their tax obligations, means to which ordinary Americans have little if any access. Then when Obama wants to change this scenario, we get these stupid cartoons about “class warfare” and spending too much. This crap from a party that kept the cost of Iraq and Afghanistan out of the federal budget. What kind of
    deceptive and slimy accounting is that? This is the party that hugely helped the creation of 200 more billionaires during the Bush administration while millions of Americans slipped under the poverty line. No one need yelp about Democrats givingthing away when Republicans have given so much more to the fat cats than they have honestly earned. The welfare for the wealthy has been much more costly to American life than welfare for the poor and without spit from the so-called promised “trickle down” promised by the Republicans. Trickle down now is the same trickle down that was happening during the Hoover years leading up to the GreatDepression.

    Obama was elected to help average and poor Americans for a change, after an administration that was totally preoccupied with making fat cats obese. Now the most obese of them all, the great pain killer addict and womanizing Rush Limbaugh has become the pompous propagandizing spokesman and leader of a Republican Party that could care less about middle class Americans and wishes that Obama would fail in his plans to help them.

    Where has the American in which I grew up gone? Where is the land of
    equal opportunity that our forefathers fought and died for in the American Revolution? Our religion has been largely replaced by a gospel of greed and a selfishness that would make Christ cringe.

    “If we don’t modernize conservatism, we are going to have a party of 25 percent of the vote going to Limbaugh rallies, joining every applause line, ripping the furniture up, we’re going to be in permanent minority status,” said Mike Murphy, a longtime Republican strategist, declared the next day on Meet The Press.

    • Aman

      Finally a little common sense. But do you honestly believe that Obama is the right man for the Job?

    • Gary

      You are right in that we are loosing “religion”. The founding moral foundation of belief in God is being replaced by belief in government, following the European secular/socialist model. Which party is pushing the envelope of morality at every opportunity? ie. Christianity out of all public forums, pornagraphy=free speech, killing unborn=choice, gambling and lottery=great way to raise taxes on the poor, traditional family under attack. etc.

      • BlueyBlogger

        How can you “lose” religion, OR use it as a “moral foundation”, when these “religious” people invaded and slaughtered an entire nation’s inhabitants, which made way for a “different people”, with “forked-tongues” to settle in a country NOT even called America? Is this what God truly designed us for?
        Australia was not called Australia till after its inhabitants were also slaughtered and stolen as children by the forked-tongue people of another time, place and fictitious language!
        If you’re going to blame anyone, begin with the East India Trading company, aka, Kellogg/Roots/Brown/Bush, and follow it up with ROTHSCHILD!!!

        • Aman

          Before you accuse white settlers of destruction do you have any idea what the Indian population in North America was in the 15 and 16th century? Do you know how many square miles the United States is?

          As far as the East India Trading Company goes, don’t forget to include the Delano’s and the Forbes just to name a few.

          Also, here is the three species of humnoids; They are Negroid, Caucausoid, and Mongolian. As far as I know a great number Caucausoid remains predates the remaing sepcies in the continental United States. But many history books fail to indicate that.

          And finally, as for the Christian crusades, if christians didn’t fight to defend themselves and their beliefs they wouldn’t probably be around today. However, that being said, I can’t find any entry in the new testement that advocates violence unlike the Koran which clearly supports the killing of infidels.

      • Aman

        Gary you hit the nail on the head! But take it from me, there’s no negotiating at this point and Obama’s attitiude is ” let the people be damned.” Which is why I don’t buy into the ” give him a chance” belief. A dangerous man…a very dangerous man Obama is. And anyone who ascribes to his philosophy of rule is either uninformed, black, at war with America, or all of the above. But here’s an interesting observation. White America has been taking it on the chin now for some twenty plus years. And the way we’ve taken it is highly amicable and unselfish. But that’s beginning to change in a most peculiar way. I’m refering to Ultimate Fighting! Mostly a white man sport that epitomises a response of limit pushing and it’s consequences. Unlike boxing, Ultimate fighting’s goal is to completely and mercilessly destroy the opponent!

        • BlueyBlogger

          Remember well, Aman, history is ONLY written by the winners, meaning the Catholics (Romans), and those who either work for them (Jesuits) or those who protect them (Rothschilds)….there is NO other history, it’s ALL a Crock!
          To find the absolute Truth of what HAS been done, what IS being done and also what is TO BE done, you will ONLY find it in the Vatican underground library, and NOT just anyone can study there………I’ve had a squint of what is stored there, and believe me, it aint pretty, it would make most people shiver in fear, especially when you see what is to be done!!!
          By the way, if you believe there are only 3 categories of humanoid….you have been lied to, and are VERY wrong!

      • Aman

        Greetings Gary,
        Are we by any chance familiar with the enigma of something known as the “Black Pope” I’m not familiar with this mystery so I can’t say for certain that there really is one. But my understanding is that the entire world is divided up into eighty-eight regions. The Cardinals, bishops, and priests are in essence something like emissaris. They report back to the Black Pope and under direction can cause civil strife by causing famine, wars, economic, religious and political conflict.
        When I heard something about this my understanding was that the black pope was a person from the Netherlands but don’t quote me on that. This might of been a result of some King of England who wasn’t granted a divorce by the Vatican and so started the Church of England. This reformation I think began the wave of the Protestant movement led by Martin Luther. From what I gather, the Vatican lost a huge pence and therefore created the Black Pope to oversee any further upheavel. Do you have anything to add here. Thanks

        • http://personalliberty Jefferson

          Aman: There’s a book called “Rulers of Evil” by Tupper Something. Sorry, I can’t remember the last name (I want to say ‘Saucey’, but I’m not sure). He explains the role of the Jesuits & the Black Pope in world affairs. If I remember right, the Black Pope is kind of like a secret general commanding a secret army. The Black Popes have been responsible for the Inquisition, the Witch Trials, & several other mass killings of people who were trying to think outside of the box & attain or maintain their freedom. It’s been a couple years, but it’s a great book. It explains how powerful groups seem to fear independent thought in the minds of self-sustaining individuals & their communities. As far as the current topic of discussion is concerned, I don’t trust any politician or banker, they crave & seek power through ‘divide & conquer’ & ‘bait & switch’. It really is sad. I’m in the behavioral health field & I see it all the time: the superiority complex is just a band-aid on an inferiority complex. -Jeff

        • Aman

          Many Thanks,
          I also work in the health and wellness field for a Medical School. I will seek out the book at my local library. I just checked out a book called Meltdown by Thomas Wood.

          Best Wishes,
          Aman

    • Gary

      You wonder where the America that you grew up with has gone, well Why don’t you ask the liberals in Congress who have been hammering away at the foundation for over 50 years and a new president who wants to “Change” America?

  • Gahring

    Come November/December, all you Obama fanatics will be crying in your beer glass/mug that will not have any beer in it because the economy will have just disappearedand you cant afford the price. So enjoy and save the tears as you will need them to replace the beer !

  • Martin

    Wow, if I was looking for a political policy debate I would have gone to any of the numerous sites dedicated to just that. I thought we were here to discuss the state of the American Dollar and more specifically the holding of gold as a hedge against our dollar’s decline.

    I would ask whether or not there have been specific moves in the direction of gold by those who stand to lose the most – the wealthy and those holding a significant position in assets backed by U.S. currency. That would tend to deliver us more into the realm of the practical rather than the theoretical which tends to spur only endless debate. No offense, but I’m really much more interested in knowing what those with significant dollar backed assets are doing. There are rich people on all sides of the political spectrum.

    Thanks,
    Martin

  • Rusty

    You all seem to be missing something. If we have a deficit there is no money to spend, only more credit. When China and Japan and whoever else has bought up that debt wants their money back, then what? You can’t continue to spend what you don’t have and you shouldn’t count on what might be coming in from the next several generations to obtain credit. You might not have a job next month just like in real life.
    So the only answer is to reduce government spending, and increase what the government takes in. There are two ways to do that, raise taxes on everyone, which will basically send the economy into a death roll or you can re write the tax codes completely, lowering the corporate tax encouraging more corporations to one come to the United States and two encourage those who have out sourced or moved out of the country to rethink their position and come back. You then have to figure out what will get the people spending and investing. Lower the capital gains tax which will encourage investments and lower the income tax which will give the masses more money to spend. If you continue to rob peter to pay paul eventually paul will get mad an fight back. Our whole system is flawed from the get go. The Dems what to build government up and try to solve the problems of the world giving everything to everybody so we are all equal. The Republicans can’t make up their mind as to what they want to do, they see many different approaches to the problem, some good some bad. The stimulus won’t stimulate because there was too much wasteful spending attached to it (standard Dem. policy add that unnecessary stuff to something that everyone thinks is necessary so we can get what we want). Look simplify the problem, if you don’t have enough money to buy something then you shouldn’t buy it. Our government was not formed to provide everything to everybody, just the opposite. It was formed to ensure that we all had the freedom to get everything we needed, (the wanted comes from hard work and prosperity). Carter did cause allot of problems, so did Tricky Dick. The surplus created under Clinton was due to Bush’s and Regans plans, these things don’t happen overnight and sometimes take years to really kick in. Bush 2 made allot of bad decisions and he and the Congress spent like drunken sailors in a brothel in Singapore. The new deal caused the last depression to last an additional ten years, we only swung out because of the 2nd world war. Unfortunately Bush 2′s wag the dog didn’t create the economic prosperity due to several different circumstances, technology being one. We can now create those planes and bombs using only a portion of what it took during WW2.

    As for those who are at the bottom of the pile, they simply have been driven there by dependence on the government. The country as a whole has lost its ability to be productive simply because of government interference creating government dependency. The only thing we should depend on our government for is National Security and the insurance of the rights given us in the Constitution. Nowhere in the constitution does it give you the right to a job, or a house or a TV. It only gives you the right to pursue these things.

    Most of you seem to want to blame one party or the other, in reality it is all of us who are to blame as we seem to think we should have the right to things we want. The politicians of all parties are to blame for making you think you have the right to what you want. If you want something go earn it. If you need something make it a priority of what you want. We are all guilty of greed. Think about it, look at the problems with some common sense and quit trying to justify your particular parties ideals. Government is only a part of the puzzle, the bigger picture is us, the people, we must change the way we think, and then, we must change the government. I say back to basics and what our founding fathers really wanted the country to be, for the people by the people. That is not what we have today, it is not what we had last year and it isn’t what we have had for a long long time.

    • Karen

      Rusty, you are the smartest blogger here…I agree with most everything you said. HOWEVER, I have to agree with Martin in that I came here looking for advice in gold investing! The rest of you…instead of whining about this party or that party, take ECON 101, H.S. US & World History, & then post an intelligent comment instead of the talking points from the pinheads in both parties. Then, read the US Constitution, become an INDEPENENT (that is think for yourself & get off the govt gravy train of entitlement) and put a bunch of indepenents in office at every level of govt at every election cycle!! I just hope we are not too late as the Clintons continue to sell us out to China (what do you think her recent visit there was for??), George Soros continues to fund all the anti-Americans in our schools & govt. & the One World Govt elites come closer to their goal everyday. People, we need to wake up, stop whining about past history (slaves, wars, torture, etc.) that none of us alive today had anything to do with & start getting rid of the crooks who are destroying our country under our very noses. I am a small business owner that has worked very hard for everything I have. I have supplied a some jobs for some people & have never gotten a break from our govt. I am not one of the so-called wealthy & anyone could do what I have done! Did you hear what the moron who is our VP said to a small business owner who asked what was in the stimulus plan for SB owners? He told her after a long pause that there will be a bunch of $$ to spend on building roads & bridges so that she can get to her business & so can her customers!! I think Joe the Plummer could do a better job as VP than this idiot! Anyway, I believe that most Americans are conservatives at heart (look up the def. of conservative before you throw stones) & as Michael Savage said yesterday, the only thing that can save America now is an act of God…..so get on your knees & start praying!!

      • Rusty

        You are right Karen, I too was looking for advice on buy gold and preparing for the future, however looking at the above posts, it seems everyone is trying to blame someone else for the failure of the economy. Simply put we are to blame and until as you said we wake up and get involved nothing will happen and our Great Country will continue to spiral down into oblivion. I am glad to see thus far that the entrepreneurial spirit is alive in some of us out here. Your right it might take an act of God to fix things. It might take another revolution. Our money was supposed to be based on the value of our gold in the coffers, Gold is a solid investment especially now that the dollar has no value or won’t in the near future. More advice on gold would have been a better

  • BlueyBlogger

    Now wait just a goddam minute here, ALL of you. Firstly, NOBODY has mentioned the fact that in the beginning of this story, Bob mentions the Federal government having to “turn on their printing presses”. Since when did the government ever print money instead of the minutes of meetings as well as Styles Manuals? Did we not hand over the job of printing money, to the Federal Reserve Bank….who by the way, are NOT the government but a PRIVATE facility.
    Secondly, those who mention “Religion” in this article should also remember that the so-called “Christian” church, be it catholic or protestant, have at least 55 different opinions or factions of their own damned “religion”. These so-called religious people left God out of the equation the day they “moved in” and began slaughtering the ONLY people that can actually save them now!

  • BlueyBlogger

    IF our votes truly count in an election, then it is the American people who are truly at fault here for being so ignorant to the facts.
    Fact 1. There is NO money, it’s either numbers on a screen or Fiat currency.
    Fact 2. There is NO such thing as US English, there is ONLY English.
    Fact 3. There is NO such thing as a Dollar.
    Fact 4.
    When the Fluoride is removed from our water, and the Aspartame removed from our food, followed by a 2-3 year “religious” intake of Noni juice, we WILL bring back our brain and memory from the fog that has been deliberately placed there, and vote without any so-called “belief systems” having a major influence on the FACTS!!!!!
    Rusty, is the only other person I can see who has written in with some common sense, because most other letters are filled with too much fictitious emotion.

    • Darlene

      That does it.I am definatley going to try some Noni juice

  • Greg Van Hee

    I’m all for a pragmatic, rational approach to the economic problem, but we’ve had it up to our ears with tax cuts, tax cuts as the only answer Republicans seem to know and articulate. Their nonsense about excess spending after starting a bogus war and building tremendous deficits without accepting the responsibility for them in the budget is not very convincing. The vast majority of economists said something had to be done immediately to avoid a deeper economic downslide. The same economists, at least the majority of them, say that putting money into the hands of people who must spend it, rather than sit on it and salt in away in offshore tax havens, is the way to stimulate. I’m certainly not a socialist, but when the top 20% of wealthy Americans own almost 85% of the assets in this country, and the bottom 80% own less than 15%, yes, there has been class warfare going on, and as Warren Buffet claims, the rich won. Like it or not, our economy has been built on conspicuous and rapacious consumption. With the redistribution of wealth that’s already taken place, the flow of capital has predictably frozen up. Those cheap
    workers abroad can’t replace workers with decent paying jobs as consumers. The fact is there is an interdependence between employers and employees that has not remained at all balanced and fair. It was much more so in the 50′s.

  • Rick

    Who is John Galt? I’m thinking some of your folks might want to find out.

    • http://OutlookExpress Las Vegas Bob

      Bob

      Amen Rick!

      Ought to be required reading for every politician/banker/CEO

  • Mike C.

    Well folks, lets look at it this way. We’ve lived high on the hog for decades now. Obviously our government has been lying to all of us. This would be regardless of which “party” you subscribe to. The word party would imply that..who cares?! lets just have fun!!! Enough of that. We’re gonna eat dirt for the next few years or more. Point is, lay your hands on things that will allow you to survive through it. Make the soup line a night on the town. Paint the town with puke for the government while you’re out. My whole thing is, now that we know what we face and why its happened, what are we going to do about it? I would like to suggest that we start using Exec. Order 11110. Its never been repealed and thus, we can utilize it. It will take a while and we won’t be recognized as a superpower anymore, but who really cares (honestly) about being a superpower? Maybe we won’t have to police the world anymore. Funny how the CIA predicts we wont’ be a superpower anymore 25 years from now. The one thing that should happen though, and I have no kids, is that children learning real history in the future should be able to read that we sucked up all the b.s. and moved forward to a real economy. That we moved out of this fake money scheme that the Federal Reserve has led us into. (a.k.a. Rothschilds, Rockefellers, Morgans, Clintons, etc. you all know who they are.) That we were still Americans and realized that there needed to be a real change and maintain freedom of choice in this country. Sadly, there is nothing short of more lies that will stop this ball that has been rolling for decades. Build the wall, let the ball slam into the wall, pick up the pieces, and drive forward. I never thought I’d see the day that the American spirit was beaten down so easily. Is this what I served my military for? Did I serve so that a bunch of sniveling whiners could tear the spirit of liberty down? Screw that! Get ready for the fight. As Americans we’ll suffer, but we’ll make it through.

    People of other countries don’t hate us for no reason. We have what they don’t. We have true freedom! Yes we’ve been lied to by both parties. They only serve their own self-interest. (‘cept maybe Paul and a few others.) We can still serve ourselves though. Enough of the crap! Now get up and get ready. Me? What will I do? I’ll start spitting a few dollars (fake) a week toward silver. (real) That way my loaf of bread won’t cost a wheel barrow full of money. I’ll jingle to the store and get two loaves. :) Good day gentlemen.

    p.s. Accept your own shortcomings and take responsibility for your own actions. We’re about to write a new book on humility also.

  • Joe

    What the world needs now is a general STRIKE

    • Aman

      Joe, what the world needs now is a GEORGE BAILEY!

  • Michael

    The reference to John Law and the events that led not only to the collapse of the French banking system but also to the French Revolution are recurring in this country at this time.

    Th events leading up to WWI are also being repeated. The idea of a New World Order and the coalescing of economies is predicated on one currency.

    The difficulty lies in different stages of economic, social, and ideological developments interfering with a universal approach to the solution of world affairs.

    Unfortunately, history is repeating itself with more severe complications than ever before experienced. The Bush Administration was allowed to violate Constitutional Law and the privileged took advantage of the lack of enforcement and oversight, the principle of governance that could have prevented the suffering, deterioration of economies and the return to a lower standard of living and value system.

    The deregulation of banking can be compared to allowing rats unrestricted access to grain and indulging their appetites. The result there: shortened lives caused by excesses. The juicing of the economy runs parallel to the juicing of our athletes, the baseball and the result is an asterisk in the record books.

    I have read that Wall Street is called the brain of the American Economy. If it is, it is manic depressive. I prefer to think that it acts more as the thyroid and indicated the metabolic function that determines our body type. As a culture we have become endomorphs. Overweight, over consuming and indulgent. We have bought off to many tomorrows and the bill has come due.

    Since becoming a debtor nation we no longer control our destiny. The borrower is servant of the lender. A Biblical no-no. Else why did the Chosen People wander for forty years in the wilderness. So that the generation that knew slavery did not survive, and the chosen people could live as a free people.

    A paper backed currency is one that has come to have a value in its own right as a commodity. It is valueless and has only symbolic value and has know come full circle to bringing down the house of cards.

    It would be wise of all who come across these comments to read a book by Thomas Merton and D. Suzuki called, “Zen and the Birds of Appetite.”

    It will change your life.

    • Tom

      Michael,

      You hit the nail on the head. The banking system and deregulation are the main
      culprits for this crisis. However, Fiat money is not the problem as was proved
      by Ben Franklin. He is considered the father of paper money. Pennsylvania
      and other colonies had paper money and no gold or silver to back it with.
      The colonies thrived very well until King George forced all of the colonies
      back on the gold standard of the crown. This caused a major shrinkage
      of the money supply in the colonies and thus causing a economic depression in the years leading upto the American Revolution. It wasn’t just a tax on tea that
      caused the revolution.

      Greedy Speculators, who manipulate the Market both ways going up (pumping and dumping) and “Naked Shorts” while going down have been like gasoline thrown on the fire of this credit crisis.

      Never mind the fact that many of these investment banks over extended their leverage way beyond the proven 10 to 1 ratio of “Fractional Reserve Banking”.

      Joe Schmoe just doesn’t get it, that he and everyone in this country who have a mortgage are nothing more than wage slaves to the banking system. Abe Lincoln freed all the slaves including the wage slaves when he issued the
      “Green back” dollar to pay for the Civil War. There would be no Federal Debt today if we still had the “Greenback” and no Federal Reserve (private bank) Bank.

      Only Andrew Jackson ever defeated the Greedy Bankers and he was the only President to ever pay off the Nation’s debt. All other Presidents who attempted to challenge them were assassinated.

      If Obama wanted to be more like Lincoln and Jackson, he would bring back the “Greenback” and do away with the Fed. This would allow him to pay off the National Debt with “Greenbacks” and do away with the Federal Income Tax.

      If you want to read the truth about our corrupt Fed and banking system read
      the “The Web of Debt” by Ellen Hodgson Brown, J.D. Also,”American Lion”
      by Jon Meacham will give insight into the cabals of America’s first lobbyists
      the elite rich bankers.

      Change we could believe in would be the return of a Congress that took on
      its consitutional duty of printing once again its own money – the “Greenback”.

  • Carlos

    I love my country…no question.

    We seek immediate gratification for everything that we do. Our next step should be a recession. Obama and his administration is trying to help offset the need for recession by keeping jobs on the market for the immediate future. We have to rethink what we have done. For the last 8 years we have been consumers of everything the world had to produce, and that’s what we did. Low interest rates lead to giving credit away, which led to giving consumer credit away, which led to an artificial increase in wealth in America. We are not in trouble, we need to allow failure in banking so that product can shift. For example, Citigroup should fail, small banks can pick up cheap assests and make them profitable for themselves. the American Car industry can fail but it would put a bad strain on the economy because of the stronghold that it has on every bit of America. We have to make smart sacrifices and not feed the monster that we created, control necessary recession and force a self sustaining America

    • Aman

      Tom, I read you entry about fiat money not being a problem. But here’s the question, as more and more dollars are “created” then circulated, what does that do to the price of goods and services…..is that not a problem? Didn’t Jefferson warn against the banks and corporations control of money by inflating then deflating?

  • s c mailen, jr

    Andrew Jackson [Democrat, believe it or not] saw central bankers for what they are. As a certain weasel once said, ‘Give me control over a nation’s money supply, and I care not what their leaders say or do.’
    It boggles the mind how or why Americans can have no standards for leaders (and then they can’t understand why things get worse). I am glad to see people having serious doubts about White House/Congress “leadership.” People need to get in the habit of seeing what they need to see. When people see what they want to see, it is easy for manipulating freedom-haters to make a mockery of representative government. The old adage that says power corrupts, and absolute power corrupts absolutely is a warning that needs to be re-learned. The cost of this lesson is going to be incredibly high, America.

  • http://BobLivingston David Wayne

    While Bob is over here lieing to you ,trying to get you to commit anarchy against the government and then trying to kill you by telling you not to take the medications your doctors have prescribed to save your life I have been circleing the globe collecting real news and information to help us. First….Bobs lazy friends…the bankers….got a free trillion dollars from our treasury from his buddy Geo. Bush…You’all remember the Bush’s. They are the presidents that rob the Savings and Loan institutions and the banks on the way out of Washington….It is your solemn right as working people to get a trillion bucks to put in YOUR pockets since the deadbeat trash executive class has gotten theirs.Bob is the kind of guy that would go to MickyDs and buy a huge sack of hamburgers then go to a house full of starving children and find the fattest lard ass in the house and give him half of the hamburgers. He would then look the starving children in the eyes and reach over and give the lard ass that runs the house the rest of the hamburgers and stand and laugh at the crying starving kids. He would then lecture them by saying if God had wanted them fed they would have been born Rockerfellers.
    I just got off a military site and there is an Army Lt. that is sueing president Obama to try and get him to admit he was not born in the USA. Now that is some real NEOCON news that got past Bob….because instead of bringing you real news he would rather hide in the bathroom all day,sit on his comode and pretend it was a real throne and make stuff up and print it here.MAKE THIS CHARACTER GET A REAL JOB and just go on over to Rush Limbaughs site…Ole Rush needs your help these days….Dave

  • Jill

    The problem, as I understand it, with printing fiat money is actually that it’s the Federal Reserve system which prints the money and then LOANS IT TO THE US GOV’T FOR INTEREST. Meanwhile, the Federal Reserve is a PRIVATE bank, beholden to nobody, which does whatever it likes, basically. The Constitution specifically allows Congress to make our currency for us, and you all know what happened (but not all the details of how it was done) to the two Presidents who actually started issuing INTEREST-FREE currency for the U.S.: Lincoln and Kennedy. Also Garfield, who understood the problem, at least. For a good explanation, please read Mike Kirchubel’s “This Financial Mess–Causes and Cures” (opednews.com, Dec. 27, ’09).

  • Tom

    Yes, Aman
    Jefferson did say the following about Banks and Corporations:
    “The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered”

    Corporations have killed manufacturing jobs and outsourced high tech our jobs overseas leaving mostly low paying service jobs for the US citizens. Greedy Banks and Wall Street investors have screwed the economy up leaving us to pay for their

    mistakes. We are now entering the time of reckoning of a recession where the Big Banks and Big Investors who are left will buy back everything for cheap and sell
    high when the economy cycles back up.

    The Federal Reserve is a PRIVATE Bank that charges US for something that the

    “Founding Fathers” put in the Constitution – Only Congress has the right to make and
    coin money. Because Private banks control the money supply the government is really controled by the international banking cartel since the days after Andrew
    Jackson. Another good read is the “Money Master” which has text and mp3 on the
    web.

    Another Great American who like Jackson and Lincoln came from the working

    class and was self educated was Peter Cooper, (February 12, 1791 – April 4, 1883 was an American industrialist, inventor, philanthropist, and candidate for President)who wrote “Ideas for a Science of Good Government”, which is out of print but available on the web – google it. He petitioned Congress several times times to try and get them to be responsible for upholding their oath of office – to print the “Greenback dollar.”

    Pumping the money supply up is what Hoover and Roosevelt did to attempt to

    stop the “Great Depression One”. It was the correct thing to do BUT putting everyone
    back to work when WWII happened is what really brought about the eventual recovery.

    The US had a large Industrial base that just needed capital to get moving again

    for WWII. Today, we no longer have the same situation as WE Do Not Make Anything Here in the USA Anymore. We need to get jobs for everyone here in the USA regardless of their education level. How do we do that is the question that needs
    addressing by the government. Bring back tarrifs on Trade – Free Trade didn’t work.
    Add a VAT tax to our products just like the rest of the world does. The “Great Depression Two” has the potential to far worse.

  • William

    No, the Federal Reserve is not in the hole. That makes no sense.

    The Fed prints money out of thin air, then loans it to us at interest. As far as a resurgence goes, for arguement’s sake, would you loan money to someone who you know couldn’t pay it back? So they talk of economic resurgence. Then they print the money…get it? When the money goes bust, the Fed will have taken all the monetary wealth in America through currency devalueation. And they will lay claim on your houses and land after that.

    Aman Reply:
    March 3rd, 2009 at 11:26 am

    You said borrow the money from the FED? The Fed is in the hole to the tune of ten trillion dollars. And your comment on expected resurgence…what the hell is that?

    [Reply]

  • Tom

    The US Government owes the 10 trillion dollar National Debt to the(” FED”) Federal Reserve Bank which is a PRIVATE bank whose stockholders are
    the worlds rich elites such as the Morgans, Rockefellers, Rothschilds that
    form an international banking cartel.

    This cartel got its start in Germany with the Rothschilds family during the Napoleonic wars, and has just about taken over the financial world and destroyed many different national economies around the world over the centuries.

    They started their banking schemes based on what the gold smith money lenders learned. They could write receipts for ten times the amount of gold they had on hand by just keeping one tenth of their gold available for those wishing to have their receipts redeemed for gold. This rule is known as “Fractional Banking” and it works
    well until there is a “RUN on the Bank”. The Cartel cut their teeth on the manipulation
    of the value and supply of GOLD.

    In England our mother country prior to gold coin being the coin of the realm, their was
    a system of a fiat currency known as the “Tally”. The Tally system was a system were
    broken wooden sticks were used as receipts or money for the exchange of goods.
    The people of England prospered but when the gold money came in to existence
    and there being a shortage of gold the economy went in to a depression. The bankers
    call this good money (GOLD) chasing bad money out of existence. A reasonable sounding lie to explain their misdeeds.

    I personally have some gold and silver coins on hand just in case there comes a very bad rainy day and I recommend having some. If our dollar is again back by metal again then silver would be the more practical metal to use as it is more aboundant. However, it is not necessary as fiat money and a nation owning its own central bank
    is all that is needed for an economy to prosper. By owning our own central bank we
    pay no interest to private bank and any interest due from the private bank to the
    central bank flow back in to the government’s general account. The US income tax
    was created to pay the interest on the national debt therefore it would no longer be
    needed.

  • bob dappert

    you know they say that the stimulas checks are supposed to help people but all its going to be spent on is paying a late bill or part of there house payment. what is three or four hundred dollars going to do for the people that have lost there job or are so far in debt because they are on three day work weeks only working 24 hours a week? if they want to help the people they need to help the ones that need it instead of giving billions of dollars to people that dont need it where is the help for the little people like me and my wife?

  • Darlene

    Way to start a fire Bob.Good blog.

  • Bobby

    To keep a tree strong, robust and healthy it must be trimmed. The dead wood and wild limbs must be cut back. The cuts heal, and the tree grows stronger.
    Cutting the roots, however, kills the tree.
    It seems our government is going after the country’s roots with a chain saw.

  • http://www.personalliberty.com Draco

    You cannot eat gold?All those wealthy individuals will starve simply because they are depending on someone else to wait on them.Thirst and hunger will drive you to make things happen.ruck up, patience, watch what happens.The more you think you have you tend to get stupid thinking you can buy regular folk.thirst and hunger those urges will be satisfied first.$$$ hah BS.

  • s c

    We need people who will investigate matters and NEVER be concerned about ‘this party or that’ being responsible. It is NOT possible to do anything in Washington without the blessing of BOTH parties.
    What matters is to back individuals who do right and slam-dunk those who do wrong. Anyone who thinks either party is credible is living in a fool’s paradise. BOTH parties are a disgrace. Washington protects itself at our expense. I’m betting on the bad guys. At least those PARASITIC VERMIN are ORGANIZED. We are a H E R D!

  • David Wine

    If you will look on your paper currency and coins, they nowhere say the word, money. The bills say “this note is legal tender for all debts”. A note is borrowed credit as is every dollar in your pocket. All ‘money’ is borrowed by the gov or banks from the private institution, ‘the fed.’ The only motivation to establish ‘the fed’ was the greed of men one hundred years ago. We have the same greed evident in todays financial world, and our elected officials who are paid off by them. These are lost souls, from the pres on down who are trying to do the impossible with a system that cannot be fixed. Some of their motives are good, though misquided, and behind it their desire to stay in power. Their are no doubt conspiracies, as always, but I don’t believe that explains the problem. The problem really is the fallen soul of man that doesn’t look outside his own intellect to solve problems that are impossible. There are only two real motivations in this world. One is ‘take’ and the other is ‘give.’
    Everyone admires a ‘giver’, and then lets fear make him a ‘taker.’ All problems in man are spiritual, and need a spiritual solution. Politics cannot solve our economic situation, though different policies can hasten or delay the fall. This entire system will one day fall completely and a new kingdom based upon the principle of giving will arise. It is clear that our two major philosophies in the USA are based upon either, ‘man as a fallen creature’, or the ‘evolutionary rise of man.’
    All politics are based upon one of these two ideas. It is clear to me, that man has fallen, and keeps on falling, in spite of our many advances.

  • http://www.poormansurvival.com Bruce

    It’s very doubtful the government can ‘spend’ its way out of the recession. The root of the problem lies in 30 years of dubious policies, greed on Wall Street…when a country stops producing goods, its decline is assured.
    Offering financial bailouts to Wall Street without putting people back to work in decent jobs will not solve the problem.

  • bob

    buy gold and silver semi numismatic coins for wealth and confiscation protection and let all the mush heads out there who still dont know how things really work in this world of ours,listen to the shills on cnbc…or fox news .. they all dance to the same tune…and let them be wiped out financially.

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.