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Paper Money Syndrome: What is it?

March 30, 2010 by  

Paper Money Syndrome: What is it?

As the crescendo toward the climax builds the paper money syndrome becomes more evident and vulgar.

Let me explain. The dictionary definition of syndrome is: “A group of related or coincident things, events, actions, etc. There is also a pattern of symptoms that characterize or indicate a particular social condition.”

A syndrome involves everything known about a phenomenon.

The paper money syndrome specifically refers to the evolved psyche of the people in all human relationships since the beginning of the fiat regime in 1913 in the United States, especially since 1971 when President Richard M. Nixon closed the gold window. This is the year that the United States went on 100 percent pure fiat and took the rest of the world on the same non-system.

The opposite of the paper money regime would be the 100 years before 1913 when the U.S. was most of the time on the gold standard.

Can we become conscious of the fiat money system and recognize it? I think that we can, and the sooner the better.

When governments enter upon a paper money fiat regime the whole psyche of the population begins to change along with mythical finance and the diminishing store of value of the currency.

It’s as if we are on solid ground and suddenly we come upon quicksand. We become unstable and gradually begin to lose our orientation. We begin a journey in a ship of society without a rudder. It is so gradual that few recognize the change. After all, we still have our legal system, our “representative” government, our flag, our pledge of allegiance, “freedom of religion,” our Constitution and all the symbols that define America.

The “feel good” psyche of expanded fiat and credit fools all but a very few.

From the beginning we have fiat wars on credit. This kills millions but the people focus on the resulting materialism. The State justifies wars and uses patriotism to appeal to the people.

The purpose of fiat paper money is a tax on the population which doesn’t have to be collected or enforced. The state simply has to inflate the currency by printing more paper money. The people are slow to realize the sinister purpose of inflating the currency.

Inflation or depreciation of the currency is a monetary plague that attacks the spenders and the savers. Your wealth is taken without a gun to your head and the crowd even clamors for inflation, while the politicians use inflation to buy votes and political power.

The people don’t understand printing press money but the politicians and the government bureaucrats do. They can promise the people everything without taxes and still have their wars, too.

How then do we recognize the fiat paper money syndrome? Fiat money is more than a monetary phenomenon. It affects the whole mental condition of the people.

The gold standard brings everything in a society into balance and stability, including the spirit of a people, while a fiat paper money regime causes a quicksand-like unbalanced mentality.

The fiat system begins deterioration of society immediately and finally ends in economic collapse through hyperinflation. The finality is the destruction of the middle class and indeed the impoverishment of all who trust paper money.

Many financial businesses enrich themselves with fiat. The life insurance business collects trillions of nominal dollars promising savings and death benefits. If they pay back at all the money is highly inflated (depreciated) so that policyholders take huge losses and, in the latter stages, are all wiped out completely.

So what does the fiat person look like? What is his mental condition? What is his morality? What is the outlook of society? What is the work ethic?

What happens to the family and the institution of marriage? What about the increase of perversion and free love? What about violence and the rule of law? What is public education?

The fiat paper regime is in reality a non-system, fickle and floating without substance, whereas the “rule of law” is what a Federal judge says it is.

Society clings to symbols and standards of the past, grasping and clawing for human liberty that has become elusive and deceptive.

Life in the fading years of the fiat regime is characterized by a Ponzi and fragmented mentality entertained with “bread and circus.”

There is no accountability or individual responsibility since citizens have become vassals of the State. Fiat forces more and more dependency upon the State and with dependency comes more and more control.

Fiat means the massive growth of government with increasing human control.

As fiat completely loses its store of value in the public mind, more and more paper money is never enough. This creates a gambling public. Greed overwhelms restraint. Financial innovation is organized and sanctioned fraud upon the public.

Government employees are bought off with fiat.

The public is easily persuaded to support military adventurism and supply their sons and daughters for cannon fodder. The pretexts are creative as long as the public still believes the politicians and bureaucrats.

The family deteriorates in the latter days of the fiat regime into free love. Wives must work to pay debts and support more and more materialism.

Not one in a million suspects that fiat and the depreciating currency is at the root of the collapse of the social and moral order.

The legal and accounting professions are creations and creatures of fiat. They act as parasites upon the misfortunes of the people caused by the fiat system.

The fiat system promotes altruism with slogans like, “For the greater good.” Translated this means give of your substance so that we can all be equally poor on the animal farm.

Work ethic deteriorates because fiat creates the hopelessness of “what’s the use, there is never enough money.”

There is an increase of perversion and free love in the latter days of fiat. Ugly immorality and base human nature comes out of the closet.

The fiat system presumes to condemn violence but promotes it with a court system that is easy on crime and criminals.

“Public education” is a dumbing down system which promotes dependency on government.

Fiat creates greed and greed destroys morality and undermines the rule of law.

All the above is reversed under the gold standard.

Even though hyperinflation is—in many ways—a complex economic problem… the process of protecting yourself is simpler than you might think. In fact, there are two primary things you must do: 1) Get your assets to safety, and 2) Make sure you take care of your basic needs (and those of your family).

Bob Livingston

is an ultra-conservative American who has been writing a newsletter since 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.

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  • Normal Guy

    Bob

    Well , according to you logic, if it was as simple as going to a gold standard then the world would have been a utopia prior to 1913. It was not!

    The reality is that there have been wars, moral issues, greed, perversion, immorality, graft, etc etc throughout history. Horrendous wars and tyrants from the beginning of recorded history.

    I am sorry but these kinds of statements are just simplistic and ridiculous. In the last hundred years the United States has created the greatest society the world has ever seen. There are problems but the foundation is strong. The reactionary fear filled garbage concerning the method of exchanging goods and services is just plain ridiculous.

    There are lots of ways and many reasons that countries damage their currencies and the politicians responsible for overspending and mismanaging the economy need to be brought to task, politics can create strong incentives to spend when thrift would make more sense. In this country the fantasy of trickle down economics was a disaster that has, over the last 30 years, put us in a very weakened position but just like after WW2 debt to GDP can and will be brought back into alignment.

    This ridiculous irrational fear of inflation is just beyond silly. It is an element of our economic system, sometimes damaging but generally not a problem. We are certainly going to have some inflation over the next decade; it will have a negative impact on those that do not have the ability to adapt to it. Fixed income and those that hold cash, it will create opportunities for those that put their money to work as monetizing the debt will reduce the relative government debt and increase the monetary size of the economy. The United States is going to take a hit but this is not the end of the world. I know that my business’ will continue to get stronger digital technology provides efficiencies that are in demand. There are opportunities in every economy, lose the chicken little routine and get to work finding those opportunities..

    • Rick

      Fractional reserve banking with fiat currency can ONLY survive through constant inflation until one of two things has to happen: a complete crash or hyperinflation. Either way it robs the “Normal Guy” of everything.

      • Kambo1

        It never fails to astonish me how Bob and Chip can present a clear, well-reasoned argument with mountains of evidence to support their logic, and still some idiots write in to profess their love and faith in the government of man.
        The simple truth that seems to elude so many people is that Human beings are imperfect. As such, an creation of ours will also be imperfect. Additionally, we are extremely susceptible to corruption, coercion, and “group think”. These facts, among others, are why the founders used the Constitution to bind down the powers of government, and decentralize them from Washington as much as possible. Sadly, here we sit, having allowed Progressives from both sides of the aisle (admittedly more from the left) to separate use from the one document that could have/can save this country.
        As for the response from the first blogger on here, “Normalguy”. Your name says it all my friend. Your arrogance was revealed before I even read your comments. You clearly consider yourself to be above the “petty” idealist notions of those on the right or the left, furthermore causing you to believe always that you see so much more than the rest of us. Your response illustrates how little you really see and understand. You argue for fiat currency because you clearly cannot accept the notion of a world without it. You fail to see the inevitability of the downfall of any government and country that adopts it, most likely because to fail to see and accept the root cause for the eventual failure of the system: Us. Humans. We are and always will be susceptible to greed and corruption, and as such will further debase the currency in gradually larger and more detrimental ways, so long as the Ponzi Scheme can stay alive. Open your eyes and your mind. Stop accepting what you know and nothing else simply because they are the only things you have experienced. Our founders drew on over 5000 years of human civilization and experience to create the Constitution. We, in our arrogance and our ignorance have allowed it to be destroyed in a century.
        If we do not relearn the lessons so clearly laid out before us by our founders, then the dust will settle from the coming collapse to reveal another dictatorship, rife with oppression and serfdom. Individual responsibility, freedom, and truth are our only hope. The belief in the possibility of a free lunch will be our undoing.

        • Normal Guy

          Kambo

          I am happy to see that you are not closed minded so perhaps we can expand the conversation a bit.

          The general simple definition of a currancy is something like this. Money is something generally accepted as a medium of exchange, a measure of value, or a means of payment.

          The value associated with the “currency” depends on the issuer, be it a bank, a country, a trade group, an individual. The first utilization of money was as a simplification of barter, it goes back at least to the shekel about 3000 BC 1 shekel equalled some specific amount of barley. The reason that gold became a standard for money was that it was rare so hard to fake, and it was durable, it did not corrode so as a store of value it was durable (this bar represents a thousand pounds of barley and it will never rot, so in two years I will be able to get my barley). Paper currency is made difficult to forge for the same reason.

          Your comment that it must be something of intrinsic value is not really accurate. It can be anything that will hold value so that I can exchange my token for goods and services and so that I can trade something of consistent value so that I am not trading Manhattan for a glass beads. It is a promise, just like a contract can represent a trade between two companies, I don’t have to bring all the goods puysically, it is a promise to deliver.

          The statement that any currency that is not backed by some commodity like gold is worthless is just plain silly…take your dollar go to any merchant, bank, service provider and see if it has value. Go to any country and see if they will trade with you. They will. All money is a promise to facilitate an exchange. If the commodity that I chose to utilize is a rare shell (big in the ancient world) and no one recognises the value of my currency then no exchange, if the currency that I hold belongs to a country that is conquered so no government to back the promise, no exchange (confederate dollars). If I have gold and no one is willing to exchange food or medicine for it because there is starvation or plague, no exchange.

          All tokens are promises, so what does any of this have to do with the fast buck or morality? The answer is nothing.

          The simplistic idea that hard commodity backed currency will prevent inflation is just wrong. If the country has a fixed amount of gold then any economic growth will make the gold worth more, so the cost of goods will go down so that a growing economy will always have deflationary pressure. This means that people hoard and do not invest in the economy because they get a better return holding onto their gold. This means you have a lack of investment, a lack of growth and as a result a weak economy. If you want to borrow money you can’t unless someone wants to lend you there gold, a one for one relationship which makes it almost impossible to borrow to develop new business’ or develop ideas. In the USA banks are required to hold reserves of depositors funds but they can loan the rest, basically producing money through leverage. The idea that the money owed by secured loans is available to cover any demands, the fed gauarantees the deposits in the short term. This is why the derivative mess that was allowed to occur was so dangerous, the leverage against deposits was multipled thirty times, regulations are required to secure the system.

          Anyhow, Bob’s whole argument is better framed in a time that has long past, paper money does not lead to immorality. Fiat currencies work, if the distortions that are part of the enormous global economies are well managed the inflation is not a big problem just a natural part of the economic cycle. Sustained low interest rates and reduced taxes when economies are booming (like W and Greenspan’s escapades at the start of this century) will lead to economic dislocation, but commodity backed currencies are not the answer.

          • Rick

            Normal Guy, you don’t understand fractional reserve fiat banking. It isn’t based on value. It is based on debt. It can only continue as long as debt grows.
            Debts can only be paid with the creation of more fiat currency – but debt can’t be eliminated or a quick crash. So if debt has to grow then hyperinflation or a complete crash is inevitable.
            With each new dollar added the value diminishes. With low interest rates your savings diminish. With the shenanigans this allows your investments diminish.

          • Loren

            Normal Guy. It is interesting to me how much power and authority you give to other entities and allow for so little for the rest of us. Why is that? What is it that you know that you are not sharing with the rest of us? Are you aware that this government is controlled by the Federal Reserve Bank and that the policies that are set by this bank have put the country in a state of bondage? Would you be willing to show us, in this forum, how we would be able to become sovereign so we could control our own destinies and not participate in this bondage? I would like to be able to control my own financial destiny and am quite qualified to do so. If I were allowed to retain all the money I make, free of tax, I am sure I could impact the planet in a positive way. Are you qualified to respond with the advice I need to do this?

        • ANNOYMOUS

          BRAVO KAMBO! BRAVO!

        • Isaac Unglaub

          … to confirm your writing, Josef Stalin once stated: ’80% of the population are useful idiots’. He was wrong, it must more than 90% …

    • CJ

      Reading this, I guess “normal guy” is the norm… very uninformed and uneducated on how economies work. It’s a complex system that can only be evaluated by holding all but two variables constant. Any time you compare one variable, you have to identify something else as a constant. The only thing useable as a constant in relation to “monies”, by history, is gold. Avoid it all you want, it doesn’t change facts. Otherwise, why would governments stockpile gold by the tones?

      • Normal Guy

        CJ

        Sounds like monetary theory according to CJ to me.

        Would you care to tell me the name of this economic model, it sounds to me like this is how you think economies work. It is simplistic and wrong so if there is in fact a model that you can reference I would be interested.

        • DaveH

          Sounds like monetary theory according to Normal Liberal to me. It’s so easy to bash people instead of responding in an intelligent manner, isn’t it Normal Liberal?

      • Rick

        Sadly now, it has been discovered that much of what is being held worldwide – including Fort Knox – is just gold plated tungsten.

        • Herb Pexa

          Rick is probably right about the gold plated Tungsten bars but this leaves open a simple question: where is the Beef— ah Gold. I have no thought at all that it is gone, but the only save place were no Government could get a look at it is ISRAEL, the savest place on Earth. Just ask the Germans, they are suposed to have 8400 tons of the stuff and when they asked for some of it they were told that it is not available. Why Israel you ask- simple: as one foremost financial Expert says- to go away from Fiat money and back to the Gold standart as much Gold is assembled on one place at 800 – 1000 $
          per ounze and then crank it up to 6000 $ when you convert back to the Gold standart. Make a note at what the ounze is right now and compere at the end of 2010. Once you BBQ a Duck it wont fly anymore…… Herb

    • MissileMan

      It looks like normal guy needs to do a little research into the history of the Fed, fractional banking and fiat money. A good resource would be “end the Fed” by Ron Paul or maybe visit the Missus Institute website. Either way it looks like normal guy is buying into the big lie that was created in 1913. Luckily most people are waking up to this scam.

      • Normal Guy

        MissleMan

        The Libertarian view of economics is jujst flat out wrong. Look at the experiments in Chile, New Zealand, and most recently Iceland.

        The basic concept of restraint is good but letting lose the free hand is a formula for disaster. Libertarianism leads to huge dislocations a concenmtration of weath at the extreme top, a selloff of resources to large corporate interests which in todays woprld is genmerally global corporations and massive social unrest.

        In Chile unemployment went from 5% in 1973 to a peak of 35% in 1982. Malnutrition grew tremendously as some 50% of the population in Santiago could not afford basic food requirements. The removal of minimum wage resulted in extended working hours with no overtime, any complaints were met with dismissal, construction workers would line up at the beginning of the week and underbid each other for work

        Chile was a socialist state in disarray prior to Pinochet, the Friedman model certainly created a good foundation for growth and for economic disipline but at a terrible price.

        In 1982 Pinochet, who had previously decimated government ranks, authorized a program to create 500,000 jobs. In other words, Chile was pulled from depression by dull old Keynesian remedies, all Franklin Roosevelt, zero Reagan/Thatcher. New Deal tactics rescued Chile from the Panic of 1983, but the nation’s long-term recovery and growth since then is the result of – cover the children’s ears – a large dose of socialism.

        The issue that you should familiarize yourself with is “Coercion” as it relates to Libertarianism. Human nature is the problem those with power will exercise it and libertarianism leads to anarchy.

        • Loren

          Normal Guy, the countries you site were set up, conned into the position they are in. Further research on your part would have shown this. You are not very informed and you assume none of us are either.

          • Normal Guy

            Loren

            Teach me then, show me your evidence!

        • DaveH

          Here we go again with the Chile, New Zealand, and Iceland misinformation. Do you ever quit trying to distort reality, Normal Liberal?
          Chile has the most robust economy in South America:
          http://en.wikipedia.org/wiki/Economy_of_Chile

          And where do you get your bull about Libertarianism? Chile pushed heavily into Free Markets, relative to their past economic policies, but Free Markets are just one aspect of Libertarianism. And Chile is still ranked only 10th in Economic Freedom, not quite up to the Economic Freedom that is enjoyed in the US. Of course, we are going in the opposite direction and may soon be less Economically Free than Chile.
          If you want to talk Really Free Markets, talk Hong Kong, whose rank on the Economic Freedom scale is #1. Their government expenditures are less than half those of the United States. How could they possibly get along without all that Big Government Largess?
          You are just a Liberal Zealot who gives very little facts and lots of personal attacks. You are a legend in your own mind and that’s as far as your legendary prowess goes.

          • Normal Guy

            Hello on trick pony Dave

            You really are amazing, are you denying that the libertarian experiment from the early 70’s to 1983 in Chile was not a total disaster. Do you deny that the Chilean government for the last decade was Socialist? You do know that right. As I said before, what Friedman brought was a lot of good structure and a cleaning up of extreme left wing socialism, however the cure created 12 years of extreme disparity and concentrating of wealth at the top. There was also a wholesale sell off of Chilean assets and the country is prospering primarily because of their enormous mineral resources. The turn in their economy occured after 83 when the libertarian era ended, they started stimulous Keynesian policy.

            I guess that the British folly of the monetary experiment in the 80’s following Friedman’s theories – without question the closest to Libertarian policy is also not true. Sorry Dave but I can and do back up what I say you just deny and blow smoke.

            Are you incapable of looking it up for yourself and are you in such a state of denial that you can’t admit that your simplistic libertarian view of the solution is not workable. Your entire quote list comes from Cato and Mise just one side of the argument.

            Incidentally I am all for free markets this is certainly not just a libertarian concept and the more global and open trade the better for everyone, most on this thread would not agree with open markets.

            You are aware that Hong Kong is part of China, not exactly libertarian. What facts would you like Dave? I am also so thankful for your non hateful statements – zealot is one of my favourite compliments.

          • DaveH

            Sorry Normal Liberal but I cite references so people can see for themselves. Unlike you, I am not wired to fabricate facts. And talk about one-trick ponies, you keep posting the same weak fabricated examples of Libertarianism gone bad, when in fact their economies improved vastly when government intrusion in their marketplaces was greatly lessened, and in fact their countries are not practicing Libertarianism . Here is another example of your misinformation for anybody who wants to learn the truth instead of Liberal Lies:
            http://en.wikipedia.org/wiki/Economy_of_New_Zealand

          • DaveH

            And I can cite a much longer list of countries that have failed or are failing under the Big Government that you embrace. There is the former USSR, China, Cuba, Argentina, Zimbabwe, Venezuela, Bolivia, Haiti, Nicaragua, Greece, North Korea, ……

            And if fact, North Korea, is an excellent example of Big Government failure because the cultures and resources of South Korea and North Korea were nearly identical before the split, and now the economies are like night and day – Big Government vs. Economic Freedom.

            Only Liberal Zealots could believe the cow-dung you post Normal Liberal.

          • DaveH

            For those who want to learn what Libertarians advocate, instead of listening to Normal Liberal’s Misinformation, here is their Party Platform:
            http://libertarianparty.org/platform

        • DaveH

          For those who want an alternative to Normal Liberal’s misinformation:
          http://www.cato-at-liberty.org/2010/03/13/keynesian-economics-and-the-wizard-of-oz/

          • DaveH
          • Normal Guy

            Davey

            Typical smoke and misdirection from the defender of all things Libertarian. It is all black and white for you apparently if you reject Libertarianism you are a communist, I am not and don’t advocate that. I am opposed to Libertarianism because it is a bad idea, Cato and Mise are libertarian think tanks and totally bias, a little Libertarian background:
            http://www.atimes.com/atimes/Asian_Economy/EG12Dk01.html
            http://www.guardian.co.uk/commentisfree/2006/nov/16/post650

            First the links that you provide are weak and misleading, it is like me saying that Nazi Germany was bad and you responding with a link to today’s economy and then saying “see Germany is an economic force because of the Nazi’s”.

            The Libertarian era in all the countries that tried it has passed because it did not work. It just passed in Iceland because it drove the country into bankruptcy. Chile and New Zealand have modified there economic structure and are now doing well. I agree that some of the ideas have helped them become better economies, the idea of smaller more efficient bureaucracies, less red tape, is something that I agree with; free trade is something I agree with. However, the idea that you utilize Friedman’s monetary policies and let loose the free hand – the idea that government needs to stay out has been proven wrong again and again.

            New Zealand Failure: The experiment ran from about 1984 to 2000
            http://www.uq.edu.au/economics/johnquiggin/JournalArticles00/NZVUW00.pdf
            http://www.commondreams.org/views/081500-106.htm

            Chile Failure The experiment ran from 1973 to 1984
            http://www.gregpalast.com/tinker-bell-pinochet-and-the-fairy-tale-miracle-of-chile-2/

            The Communist countries that you list are not models that I recommend, never have never would. You have never seen me call Obama a communist that is not what is happening in America, so I have not and am not advocating that that is what we should do.

            I have never suggested that inflation is a simple matter but reality is we are going to have some, you and your ilk suggest it will be hyper-inflation, I disagree, I say that it will be moderate and that the advantage is that if you are in a heavy debt position that it will monetize that debt. Not what I would have suggested we should do but Bush and his Neo—Con crew have us here so this is the reality of the situation, so like I said, learn how to adapt.

            This article is about fiat currency; Bob suggests that all the evils of mankind are attributable to our currency not being linked to gold. I say a load of bunk. Libertarians are convinced that fiat means the ultimate implosion of the currency; I say that tying money to gold creates deflationary pressure and trade inefficiencies that hinders economic function and weakens the economy. Libertarianism is a bad idea!

            http://www.politonomist.com/the-benefits-of-a-fiat-currency-00852/http://www.theatlantic.com/business/archive/2007/09/there-apos-s-gold-in-them-thar-standards/1858/

        • Earlw

          I seem to recall that the U.S. (CIA,I believe) had a hand in Chile’s problems…..

        • MikeC

          This guy’s confusing Libertarian with Liberalism! Phew…Now, it all makes sense!

        • J C

          You really are an idiot. Those were not “Libertarian” experiments.
          They were evidence of what happens when fractional reserve banking collapses. And that same collapse is coming to a country near you…soon!

        • michael

          Soooooo what wrong with a little anarchy, this country was basicly raised on anarchy for the first 150 yrs, settlers and pioneers handled their own problems, in most cases without out side “help” from structured government. in those days “law enforcement” personell were called peace officers.

    • MikeC

      Normalguy,

      “Fixed income and those that hold cash, it will create opportunities for those that put their money to work as monetizing the debt will reduce the relative government debt and increase the monetary size of the economy.”

      You lost all creditability, even before you spewed this load of dung! You must be a Keynesian! Are you for real!

      • Normal Guy

        MikeC

        My bet, you have never read Keynes or any other economic theory. I in fact like some of Keynes ideas and some of Friedman’s. I generally find that academic theory taken to its extreme conclusion is ridiculous so look at the core concept and utilize the strongest ideas.

        If you have read Keynes then you would understand that he advocates fiscal responsibility in the following way. When economies are growing and strong and there is inflationary pressure the way to mitigate economic bubbles is to rebuild reserves through taxation, a reduction in government spending and higher interest rates.

        So Mike, the dominant economic theory today – all over the world, look it up – is Keynes, actually neo-Keynesian but there is certainly a consideration of Friedman’s Monetarism.

        Oh and like I said if you have inflation of say 6 or 7 percent for say seven to ten years you double the monetary size of the economy (this just means that the same good sells for twice as much but all aspects of the economy grow in relative terms, inflation basically pays down the existing debt, savings take a hit)there iis pain as wages tend to lag inflation.

        You will also have population growth that will probably add another 15% to the size of the economy and you get whatever real growth in GDP say another 12%. If you put the brakes on deficits, the relative size of the debt, in real terms is reduced. At the same time the tax base relative to the deebt is doubled so paying down the debt is made easier. The inflation will cause some dislocations it is unpleasant but not a disaster. This is not ideal but it is reality, learn how to adapt.

        • Loren

          Your advice would be fine , if in fact anything you said was true however, you are again misinformed and you are showing a complete lack of understanding what is really taking place on this planet. The system you live with is a hedged system. There is no way to prosper, if in fact you ever want to prosper, because that would require a grant from the ruling authority. Try to imagine what it must be like to be able to answer only to yourself when it comes to the currency you possess. You can’t because you have to pay so much of it in overt and hidden tax. I would be interested to know why you chose to give so much authority to others in most aspects of you life and retain so little for yourself.

          • Normal Guy

            Loren

            Sorry but your statement is ridiculous.

            Is your position that no one is prospering today? That it is impossible for anyone to find success. Well sorry but I have found success, I have a number of small companies, employ over thirty people and live a great life. If you can’t find success, if you think that it is not necessary to have taxes, well you just don’t have a clue.

            Society since its formation requires infrastructure, for citizens to prosper we have to have transportation, justice, military, education, communication, regulation etc – basic infrastructure. You should be able to find some level of success in this great nation, don’t blame everyone else if you can’t.

        • MikeC

          Ah, I was correct, a Keynesian! There was a reason his polices were not used until a Socialist President was elected! It doesn’t work, it hasn’t worked, and it NEVER will! Where are the jobs! Find me a job! 9.7% unemployment…

          You wrote~
          “When economies are growing and strong and there is inflationary pressure the way to mitigate economic bubbles is to rebuild reserves through taxation, a reduction in government spending and higher interest rates.”
          You don’t understand inflation, my man! “Build reserves through taxation”! You’d be perfect at the Federal Reserve! Nonsense, bubbles occur when there is too much liquidity in the system, and also the reason for inflation! Read a book!

          However, I do like what Freidman had to say about the Federal Reserve! “If you put the Federal Government incharge of the Sahara Desert, in 5 years there’d be a shortage of sand.” Or, how about this one “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Or, this one…“Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.” Yet, another…”We have a system that increasingly taxes work and subsidizes nonwork.”

          So, what were you saying….

          • Normal Guy

            MikeC

            Friedman’s greatest experiment was in Great Britain during the 80s and it proved to be a disaster. For almost seven years, the Bank of England tried its best to make it work. According to monetarist theory, the British economy should have enjoyed low inflation and high stability. But in fact, it went berserk. The economy sank into a deep recession, while the lead economic indicators zigged and zagged. Although inflation came down, this was at the price of rising unemployment, which soared from 5.4 to 11.8 percent. Between 1979 and 1984, manufacturing output fell 10 percent, and manufacturing investment fell 30 percent. Eventually, the Bank of England came under overwhelming pressure to abandon monetarism, which it did in 1986. The experiment was such a failure that no conservatives have repeated it.

            Oh, and to address the issue you raised, yes higher taxes while things are booming and lower taxes when the economy is in recession. Fiscally responsible, just like an individual paying down debt when they are making good money or borrowing against assets when things are tight. If you never raise taxes then you can never lower them and if you are always in a stimulus cycle you get what we have now Bush and his Neo-Con trickle down crew cut taxes and lowered interest rates through a boom, increasing both the fiscal debt and the current account deficit (the twin deficits were almost a trillion a year throughout hi Presidency).

            Spending has to be matched with paying, what is your problem with that.

          • MikeC

            Normal Guy,

            That’s “Bubble Economics”! Our economy has been based on this type of economics for over 30 years, and it’s created a Depression! We have had more bubbles in the past 30 years, than for most of the last century. All, because of a loose monetary system. It only serves the elite. This crisis was caused by historically low interest rates. The value of the dollar has lost over 30% of its buying power since 2003. It’s not how many dollars you possess, i.e. Weimar Republic and Zimbabwe. It’s the value of those dollars. If an economic cycle is solely based on runaway liquidity, then it is a temporary economic fix, a bandage and is doomed to correct! We no longer produce anything! Our GDP is based on services and Derivatives. China produces something.

            Where do you think the taxes go to. Reagan discovered it wasn’t going to the US system, but to settle our debt to the bankers. This county built that White House without taxes. There was no income tax until 1913, and we did alright before that. Taxation is BS, as that money could go back into the system, instead of the pockets of the corrupt. I’m not a fan of Bush-wacker, however, lower taxes does work, as it circulates and creates jobs! Your theory is Boom and Bust. That policy has gotten us to where we are today!

            Your theory have been proven wrong….In a big way!

          • Normal Guy

            MikeC

            Look, Libertarian talking points are not economic reality. If you don’t think that the natural cycle for economies is boom bust cycles you live in a fantasy world that has never existed here. Every natural system on this planet cycles, that is the nature of our reality, floods and droughts, life and death, night and day.

            Economic booms and busts have been with us since the start of structured societies. Sometimes tied to weather, sometimes environment, sometimes economics, sometimes wars. Trying to mitigate the magnitude of those cycles is not “Bubble Economics” it is living in the real world were market forces drive expansion and contraction.

            There are theories which suggest that the magnitude of the booms and busts in the last half century has been amplified buy the tremendous advances in technology and the reaction to events being much swifter that in the past. It is possible that the interconnections of global economies smoothes out economic cycles because the pool is bigger and economic turmoil or prosperity in one economy have less impact on the overall global economy. This also explains why when the US which still has the largest GDP in the world – almost 100% larger than China’s – has a near meltdown that every country is impacted. The US being the global reserve currency has allowed us to export a great deal of inflation as a devalued currency so the impact has been somewhat reduced, but we have to get our house in order or the reserve currency status will end. If you don’t think the US produces anything look up the components of GDP, we are still healthy, just not the industrial centre.

            http://useconomy.about.com/od/grossdomesticproduct/f/GDP_Components.htm

            Tax money is in the system, where do you think it goes. Yes I do think that our economy cycles through booms and busts. I just do not think that we are at the end of the world in some disaster that is inescapable as you seem to, we are in the greatest country on the earth at the peak of human development and we have great opportunities in front of us.

            The world is not coming to an end, Obama is not the anti-Christ, there is not a global conspiracy that has been going on for a hundred years and there is no need to become paranoid. McCarthyism is a bad idea; the commies are not at the gate. Relax, enjoy life, you have to admit that we are the luckiest people who have ever lived. No era of mankind has had so much, accept the good!

          • MikeC

            Normal, use another comeback! You used that one above!

            Boom and busts, never at this frequency. Look it up!

            Bubble Economics is creating an instrument that is worthless, to a value greater than 24x the wealth of this entire planet, and calling it production. Wealth comes from production, and if you debate that one, you’re living in a Liberal’s paradise! Betting your nation’s sovereignty on a worthless “instrument” (I like that) called a Derivative, is suicide. There are 12 countries on the verge of bankruptcy right now, including the US and Britain, and you’re trying to convince me with your college text book, that the policies of the past 90+ years didn’t contribute to the collapse of the system. I hope your business isn’t sales, because I’m not buying!

            That’s just conspiracy mubo jumbo! Our main export is Military Weaponry, oh, and inflation! Every country is interdependent on the US, because we have the reserve currency! Just wait until Japan, China, and Russia sell them off, and your life savings is worth pennies on the dollar. You live in a fantasy world, Norm! When the deck of cards falls, sounds as though you’ll have plenty of toilet paper! Wipe away!

            You didn’t answer my question, which this was all based on, why our currency is worth 30% less in 7 years. But, I’m sure you don’t have a logical answer, by your previous responses. Almost seems like a waste of time!

            http://www.youtube.com/watch?v=eZA0qNsf4m0&feature=pyv&ad=3723781624&kw=inflation

          • Normal Guy

            MikeC

            So now you are off onto the typical scattered response of the Libertarian fans. Let’s see, bubble economics, I have never suggested that it is a good idea to allow bubbles to form I have said that it is the responsibility of the government to keep that from happening, the tech bubble was a problem but not excessive the housing bubble and the extended low interest rates that created to much liquidity were a big problem add in the unregulated derivative and credit default fiasco and we almost triggered a global implosion – Thank you Bush and the neo-cons, and our Ayn Rand inspired Fed Chief Greenspan.

            Production involves a great deal more than just physical goods; in fact technology will eventually remove the low wage advantage from the emerging nations and bring production closer to consumption points. The world will continually and at an escalating pace evolve and transform who knows how the US economy is going to look in ten years, it will be critical that we focus on communications, energy, food, water, technology – the opportunities are all around us and I am convinced that this great nation will find its way.

            Whatever textbook you are referring to, bite me, I guarantee that I have more real world experience than you.

            If you think it is in the interests of Japan, China etc to blow a hole in the US economy then you are not too bright. They have taken huge hits on the US reserves because the US economy is critical to their success. So Mike if you want to put everything you have into gold, ammo and food and hide in the mountains, be my guest. I see challenges and a bright future, one based on innovation and global markets, I do business in Europe, Canada, and Korea and know how to compete and win.

            Oh by the way, I never suggested that derivatives were a good thing. I agree with Buffet they are financial instruments of mass destruction, they have a small role to play but they should be heavily regulated.

          • DaveH

            Ah yes, Normal Liberal, the master of double-speak and ridicule. Do you ever back up your “facts” with references? Oh, I know, you have more real-world experience than the rest of us, even if you do have to say so yourself. And you do. The truth is that people that possess real knowledge don’t need to stoop to name-calling and ridicule. Only pretenders need resort to manipulative tactics and unsupported-facts.
            No doubt, you will still be spewing your fabrications as our country sinks into another Carter-style economic morass.
            The truth is that inflation is no simple matter. Those who work hard and try to save for future comfort are robbed of their efforts by the selfish efforts of those who control the money supply. As a result, the citizens’ incentive to go the extra mile is taken away, thus resulting in less productivity. Sure, some knowledgeable people can ride the wave of inflation and prosper, but the majority suffer in the long run as saving for the future becomes useless. As fewer people save their money, there is less money for the banks to lend to promising businesses, which results in less business activity and another blow to the economy. A third problem results as foreign countries demand higher rates of return from a nation that is inflating its currency, thus draining more capital from the inflating country.
            There is nothing good about inflation for an economy. In a productive, robust economy prices go down not up.

          • MikeC

            Morning, Normy!

            I love this guy! DaveH, you’re correct! This guys talks Lib Double-Speak!

            What part of government do you suggest takes the responsibility in curtailing a bubble! Surely, you’re not suggesting the Federal Reserve, since it is not an institute of our government! The Tech Bubble WAS the straw that broke the camel, with over $5 trillion in market value loses, and the beginning of the great dollar collapse. And, if you think this was the result of one president, than you’re a bigger fool than I thought! This goes back to Carter…oh, but let’s not forget Nixon! You probably think NAFTA was a good thing, too!

            Nice! It makes me feel good that you resort to jabs, because you’re running out of things to say! Did I read correctly that you’re a successful businessman, with several businesses and 30 employees. I’m curious as to how someone so successful has all this time to respond to every comment.

            Japan, China, and Russia are in a no-win situation! They are getting out, in an orderly fashion! You mean, our debt is crucial to their success!
            You still never responded to my question, regarding the dollar….never mind!

    • James G, Conley,Sr.

      NORMAL GUY:
      I Just read your comment,On The Above artical,According to your response,I Gether You are College Educated,Young,35 to 45 years old,
      After College,You took out a Small Bussiness Loan,And started a Bussiness,And are too some extent”Sucessful”,And As This may not be an
      Exact Account,However,Why Do you Belive,You Are A Normal Guy??.
      Certainly Not Because you Slip into a Suit Every Morning.
      My Point IS!The Average”NORMAL GUY”Gets upBetween 5:00A,M,And 7:00A.M.Depending on his commute Time, put on a pair of Jeans or kakis,Or a Company Uniform,Has Breakfast& Coffee,Says his goodbyes,To Wife and Children,Drives To Work,Punch in on the time Clock,Works To 15 Minute break,Back to work to Afternoon Break,Back to work until 5:00 P.M. Off Work,And if he is fortunate enough,He Goes Gome.
      If he is like many of us,He Goes Too His Other Job.
      Or maybe He is a Over The Road Truckdriver, Who Leaves Home And Family
      And Stays on the road,For 2-3 or possibly 4-Weeks at a Time,Before He Will see His Home And Family,Again.(IF He don’t Get killed in an accident.)
      This,To Me,is the Epitomie of A NORMAL GUY.

    • home boy

      normal guy would be right however he and almost everyone in the world does not factor into their equation of who is really in control of the world. and the sooner yourealize the truth that the bible teaches youwill better undersatand where we are headed . that ruler by the way is satan and no government will stop his regime. in fact they are part of it even with out their knowing it. read revelation chapter 17 and 18 . this system is going down and if you think gold and silver will save you read ezekiel chapter 7 verse 19. i’d be saving water.

    • David Fisher

      Just go ahead and keep your head in the sand Mr. Normal Guy. Keep voting for the Obamination. You’ll see. We will all suffer the outcomes.

    • Richard Pawley

      There is not the time nor the space to discuss which system of economics is most enduing, 5,000 years of gold, or 400 years of paper money (outlawed in China long before the west thought of it – and the Chinese invented paper money. Time and time again the holders of Chinese paper money lost everything hence their wisest men outlawed it long before most of the colonists ever set sail for the US. For the past year the Chinese have been advising their citizens to put a portion, at least 5%, of their savings which are much greater than ours, into gold. What do they know that we haven’t been able to figure out? I will tell you. Their money is pegged to ours and we are going to have 200 to 300 percent inflation as a result of the squandering of all the money we can borrow. We spend $225 million for every $100 million we take in taxes. If you are a child of God you can pray about all this and he will either confirm it or tell you what you should do about all this. The collapse of our society will follow the collapse of the dollar and we will take the rest of the world with us because they are printing money to get out of the fix they are in. You can’t eat gold and although it will go up more than $500 more per ounce but I am of the opinion that food will increase even more. This collapse and the tremendous suffering of those who did not or could not prepare will be astonishing to those who like Normal Guy have accepted a bill of goods long promoted by those who benefit from inflation. Do you really think we will be the first country in the history of the world to keep printing money and not avoid problems far more severe than those of the Great Depression? It’s true that life has never been perfect here on this planet even with real money (gold and silver) but progressives from Hitler to those in Congress will not create a utopia on this or any other planet and no less a person than Jesus Christ Himself said that “The poor you will always have”. Charity is important (helping those who cannot help themselves) but do we all really want the government to replace the church and the state take over the role of God? Prohibition seemed like a good idea at the time too but it was overthrown 13 years later. We will not have 13 years to come up with true health care reform as all we owe and the new taxes caused by the phony health care reform Congress passed ten days ago will have destroyed the economy by then. Copy this and save it if you simply can’t conceive of this. You will see it! Charity is a good thing but taking away from those who have to give to those who do not is communism, not socialism, and communism is the goal of socialism. This is why Castro came out in praise of our new government takeover of health care in this country. He understands what Congress has passed even if we do not. We can’t paper our way out of this with fiat paper money no matter how had we try. What some have overlooked is that money (according to one definitiion in the dictionary) is a store of value. The progressives can change the dictionary but they can’t make fiat money a store of value. It is only a store of deceasing value. We have one chance and that is the election in seven months. Gold alone will not be sufficient to save us.

    • Jack Lovett

      ” normalguy” you dont have the wherewithal or ability to shine Bob’s or Chips shoes. Perhaps you should run for political office.

      jclbiz

      • Normal Guy

        Well Jack

        That is a good thing as I have no intention of shining anyone’s shoes. You just jump right in there I am sure Bob and Chip would really appreciate it.

        • J C

          You’ll consider yourself lucky to shine someone’s shoes when his Hopiness is done with our economy.

          • http://verizon kbab

            Believe me this guy cannot come close to comprehending.

    • 3rd worlder

      I hope for your sake that you are divested and living in another country before the credtors forclose on America.

    • hithere

      Since 1914 experts and scholars say the world changed dramatically. Do your research and realize how absolutely horrible the last one hundred years have been. We never had a world war before that time. The horrific things man has done to man since then is unrefutable. Soon a positive change will take place by a higher source who can read hearts.

    • DaveH

      Normal Liberal,
      Talk to Zimbabweans about that “ridiculous irrational fear of inflation” that “is just beyond silly”. Or the Argentinians. You poster intelligence, but you really show your ignorance with those statements.
      There are only two classes of people that benefit from inflation – the borrowers and the government. The borrowers benefit because they pay their loans back with cheaper dollars. But even then they may lose if the property they bought is taxable. The only people that gain for sure are the Government people who reap higher taxes as people get pushed into higher income tax brackets. Inflation is a hidden tax on the citizens imposed by unscrupulous governments. It is an economy destroyer and there is nothing “silly” about fearing it.

      People like you that pretend to know it all are really annoying to those of us who do.

      (that’s a joke).

  • Rob

    Well I don’t think you have really experienced the kind of inflation that can and will happen as fiat money degrades into worthlessness. You just haven’t seen it. You say inflation is generally not a problem, right, but what happens when the fed expands the money supply based on trillions in Treasuries it has sold to the tune of 10 or 11 trillion dollars? Flooding the economy with newly printed cash dilutes the value of the cash already in circulation reducing its purchasing power.

    Fiat money can be expanded like stock value. With fiat, you can create wealth out of nothing, {Not really} and print additional money against that. Then use the cash to finance wars. The problem with that is that ultimately it will go in the other direction. Its value is not fixed to something tangible.

    Monetizing the debt is a disaster! If it was just that simple the government would never have bothered selling Treasuries to other nations for loans in the first place. ????? I mean if it were that simple, then they could just print up all the money they needed with no debt. Why do you think they did not do that? Monetizing the debt is precisely what will kill the dollar and lead to runaway inflation.

    “monetizing the debt will reduce the relative government debt and increase the monetary size of the economy.”

    Yes it will increase the monetary size of the economy. And in doing so, will dilute the value of the dollars already in circulation. Its like ripping something in half to get 2. You don’t really get 2, you get 2 halfs.

    Geez….

    • James

      Rob, Since the Federal Reserve system was created in 1913, the dollar has lost over 95% of its value, back then, gold was $20 per ounce, now it’s over $1100 per ounce. Corn was only pennies per bushel, now it’s over $2.00. I’m old enough to remember when a nickel bought a double-dip real-ice cream cone, with a cherry on top, or an ice cream soda.

      • James G, Conley,Sr.

        James!,I’m With you,Go to a movie for a dime,Have a party on a quarter.
        Gasoline was 11cents a gallon,Beef steak was 79cents a pound.And that was considered a high price.
        But these Birds Really need to research,What happened too the Economy
        Of GERMANY,Before WW2 and where it went too after WW2.
        and see how inflation multiplied,for rheir Monatary System.
        Mean while back at the U.S.A.We Were The Worlds Biggest Lender.
        We Did not Borrow money from anyone,We Produced The Worlds Needs as Well As our Own needs,Bigger,Better,Faster.Than any Nation on earth.
        Today The U.S.A.IS the worlds Bigest Borrower,Quite a Drastic Step Backward,If You ask me,And if you can remember!.
        We began our National Decline,After The Government SHUT DOWN the STEELMILLS in Ohio,Pennsylvania and all over our nation.NUFF SAID..

      • Robert

        I agree with you 110%. And as paper fiat currency gets more and more worthless the same amount of gold that bought a gallon of gasoline 40 years ago, buys a gallon of gasoline now. Personally, I keep a set amount of paper currency in my portfolio for convenience of day to day living, but I’m putting more and more of my savings into platinum, gold and silver. I want something more substantial than green toilet paper when Obama’s communist deck of cards collapses.

  • http://ordy@fedtel./net Eric g

    The money is backed by faith . I do have more faith in gold than paper money , but not much . Not enough to go back on the gold standard . I would rather own wheat than gold . we can eat wheat . Gold is great , if you have to run with your wealth . As a pound of gold is worth a lot . I’am satisfied that the american dollar is holding up rather well . This maybe becuase other countries currancies are collapsing faster than the dollar . I even think Obama may have not managed this economy so badly . We were about in a freefall before he took over . I did not like the government buying up the auto companies , and I think they should sellout as guick as possible . On the war front the democrats seem to be doing the same things Bush did . I did not think Bush was right and I dont think the democrats should be repeating Bushes mistakes but they now seem to be only to happy to do . I think we should seperate into three regions and have three independant countries East ,West ,and central . This would allow all of us more freedom , and we would fit in so much better with the rest of the world . This would prevent The United States from being such a bully and we might even have more influence than we now have . Now we find ourselves fighting wars furnishing the money and sometimes even the troops for both sides No wonder we are going broke . I think all is not lost yet , I wish the republicans would have joined the democrats and passed a good conservative health care bill , Yes even with the public Option . Good grief the government is already paying over fifty percent of all healthcare costs any way . Forget insurance they only add to the total costs anyway . Just let medicare pay evreybodies bill . Medicare only charges me 58 dollars a month . Most doctors work cheaper for medicare cuase they know they will be paid . Its a top secret how medicare can take care of me now that I’am old for only $58 a month and insurance companies and their agents wouldnt risk it for less the a thousand a month when I was young .

    • CJ

      Eric. How’s that wheat gonna work for you when you need to exchange it for something else you need? How are you going to stock it? Transport it? TRADE it? When times get tough, I need something that can be exchanged for anything else I may need, and can carry enough of.

      • MikeC

        That’s what the Barter System is! It’s the simpliest, purest way of transaction! It’s how things were traded for many millenniums! However, we are far too sophisticated to go completely back to this system, as it cuts into the mob bankster illegal share! They’ll have none of that!

    • MikeC

      Eric G,

      My good man, “backed by faith” only means, we promise to pay it back. Every country has defaulted for lesser.

      Paper currency was created as a Certificate of Ownership for gold in storage. Throughout history, crooks have figured out ways to cheat this system.

      The Gold Standard meant every dollar was legit and backed by blood, sweat, and tears…and, I mean that loosely!

      As kings used to steal from their citizens by “clipping coins”, the privately owned Federal Reserve does this by increasing the supply of paper, depreciating the value of all money in circulation! We call it inflation. As someone above noted, since the Federal Reserve took over our money supply, the dollar has lost 95% of it’s value! Doesn’t anyone question that. Maybe during hyperinflation. In 18 months, Obummer (Barry Satoro), has out-spent all President combined! Inflation takes approximately 1 year to hit mainstreet after it’s released into the economy! You cannot tell me you don’t notice groceries going through the roof! And, that was from Bush’s policies! Just you wait! The US wasn’t given a “Go Free” pass!

      Regarding the War front, you’ll notice the policies of both parties are the same! But, they are just puppets for the oligarchs and Military Industrial Complex, who make money off wars and our brave men and women.

      Secession is not the answer! Together we stand, divided we fall! The problem is the “power grab” of the federal government! Their sole purpose is to protect the states from enemies, foreign and domenstic! Not to govern over the states, and that is why states are filing suits against the illegal Health Care law. That is why people are up in arm, figuratively. The Federal government cannot force citizens to buy something! An honest person knows you don’t get something for free! Facism, Marxism, Communism…no “ism” is of any good….We are not a Repulicism! The founding fathers were intelligent men, and I stand by their Constitution!

    • MikeC

      Eric, when you get a chance, check this out!

      http://www.youtube.com/watch?v=eZA0qNsf4m0&feature=pyv&ad=3723781624&kw=inflation

      Good day, man!

    • Robert

      My ancestors here in Dixie (I’m from Louisiana) fought to gain their independence from a tyrannical federal govt. nearly a century and a half ago, but that very same federal govt. refused them their independence and the War for Southern Independence was lost in 1865. Although I agree with you that secession and breaking up of this country into different regions is the right idea, I doubt the little communist dictator (Obama) would go for it. And as much as he obviously hates conservative white Christians, it would give him a phony excuse to murder and imprison as many of us as he possibly could. We all know that’s what he wants anyway.

  • http://ordy@fedtel./net Eric g

    There is some talk of doctors refusing medicare and medicaid patients , and I’am in favor giving them raises in many cases . we could even allow the patients to give tips . My senator was against the public option becuase she thought it paid the doctors to little . Of course the healthcare professionals lobbied and secseded in destroying the public option in Obamascare . Not only do we need to open up the medical schools to allow more kids to become doctors to assure ourselves of plenty of medical doctors willing to work for reasonable compensation from our prespective . Those doctors not satisfied with this idea can recieve training to become stock brokers and insurance exucutives where unuashually high compensation is the rule rather than the exception .

    • James

      Eric g, I’m sure we’ll all be happier when all doctors and nurses are employees of the federal government. Who do they think they are for refusing to treat medicare patients?

    • John Smedley Madera,CA

      With the new health care reform law, we will have plenty of doctors because of the affirmative action portion of the law. this will give minorities preferential treatment in entering medical schools. I thought we wanted the best and the brightest for doctors. Oh well, you get what you pay for. If the government pays for your doctor visit, don’t expect much in return.

      • Cathy

        Plenty of doctors? I’ve heard recent reports that 46% of doctors currently in business are close to retirement age (which makes sense given all the Baby Boomers coming up to retirement – same issue with teachers, etc.). This health care crap has many of them considering early retirement so they don’t have to deal with the hassles of government run health care. Great! On top of that, I’ve heard that many who were considering becoming doctors are reconsidering for the same reason. So not only might a bunch of doctors bail early, a bunch of people might not to become doctors; factor in how long it takes to train doctors and then consider the fact that there will be far more demands on the medical profession as a huge segment of our population grows older — at a time when we will have less doctors to take care of them. It is a recipe for disaster. Oh wait! That is part of BHO’s plan…the government will have more control so they can decide who can be thrown on the trash heap for the benefit of all society!

        Seriously, I don’t even want to think about how ugly things will get for all of us when it comes to socialized health care. This bill is criminal legally and morally. All of you who think it’s a good idea are not necessarily stupid, but you are ignorant of the truth or inherently corrupt. It WILL NOT solve anything – Socialism is not right for America and that is what this, but it is disguised as a gift from Santa Obama. It sickens me even more than war because this kind of governmental control is like an infectious disease that spreads until everything is destroyed. And I am optimist!

  • Parr

    Bob,

    During the election for the first time I noticed when an anti Obama thread would be sent through email to a bunch of folks suddenly we would get these well constructed rebuttals from “folks just like us”. Looks like your site has been put on the list of problems for the powers that be. Just a guess but more and more you may find responses to your posts that are smooth and well reasoned rebuttals. It will keep you on your toes. We hear these same folks who call in to talk radio and talk about how they are “conservatives” yet the message they give is usually thinly disguised progressive. I wonder why they can’t just get their ideas out honestly and stand by them. Oh wait they tried that with “Air America” and could not even find advertisers in some cities. So I guess there is a need to flock to the conservative sites to teach us about the evils of Bush and capitalism. Keep up the good work.

    • Judy

      Parr, they are called “Trolls” and we recognize their stench from a long way off! Unlike the super ignorant caller to the Rush Limbaugh radio show, we American Patriots know what the original Tea Party was all about. We didn’t, regardless of what that moron said, want coffee and that is why we dumped the Tea in the Boston Harbor. That ignorant Troll is allowed to vote!!!

  • Layin in the grass

    Eric G says -Medicare only charges me 58 dollars a month . Most doctors work cheaper for medicare cuase they know they will be paid . Its a top secret how medicare can take care of me now that I’am old for only $58 a month and insurance companies and their agents wouldnt risk it for less the a thousand a month when I was young .

    Do you really think that the cost of your health care is only 58 / month. Don’t you realize that the government is spending much more ? Why do you think the system is going bankrupt ?

    If you are really old, then when you were young you probably didn’t even have health insurance. When I was young ( approx 50 years ago ) my father drove truck my mother worked in a sewing factory, we had 5 kids at home and health care was never an issue. When we needed something we went to the family doctor ( who knew us by name ) and paid for it. And it didn’t cost an arm and a leg. Since then, the government has gotten into the business ( aka medicare ) and guess what – costs have skyrocketed.

    When I was first married ( 40 yrs ago ) we had no healthcare. We paid cash when my first daughter was born and it was no big deal. I was a student at the time and my wife only worked part-time after the birth.

  • s c

    No one needs multiple degrees to understand the true significance of paper money. Basically, all you need to know is that there’s real money – and then there’s paper. One of the best uses for paper comes in the form of toilet paper. The way we’re headed, our dollars will serve as an alternative form of toilet paper.
    When that happens, people will understand why the images of Washingtonian ‘public servants’ should be on all of those dollars. That way, you could use them for wall paper or toilet paper (one must always have a “choice,” eh?).

  • http://ordy@fedtel./net Eric g

    Rob it is that simple thats why we created the Federal reserve to take politics out of the money . If you dont believe it look at Adolph Hitler and Germany . When Adolph started Germany was broke more bankrupt than we are today . But Adolph had a dream and a printing press . He put the Germans to work . In 5 yrs Germany was ready to conquer the world . Germany was a powerfull country in 1941 It took half the worlds armies to defeat him . If hitler had won the second world war the mark would have been the world leading currancy .
    Evreybody would have had faith in the mark it would have been as good as gold . With proper management of the printing press and the money you can curtial dollars and make them valuable or make them plentyfull . Just like milking a cow inflate and deflate you milk the people and the cow the sameway . Same as with Gold or diamonds you say its valuable its valuable . Actually goats and wheat are more valuable than diamonds and gold to most people . I should be president for a while

    • JLC

      Eric: I had a first-hand look at Hitler and Germany back in the 1940′s — or, at least, at the consequences thereof. A lot of blood was spilled in that little ruckus, and some of it was mine. If you look at your history a bit closer, you’ll see that, by 1945, the Mark was on the verge of collapse. One major difference between engineering and politics is that, in engineering, 2 plus 2 always equals 4. In politics it equals whatever you want it to, at the time. You should be president for a while? Thanks, but NO Thanks.

    • CJ

      Eric. You obviously are confused on several points. Hitler eventually failed because his was a false promise. Truth may be set aside temporarly, but wins out in the end when people realize it, and see past the vail of deception. True VALUE is based on little more than scarcity. The more you have available, the less value it has. And the same goes with paper (FIAT) currency.

      • Vicki

        as CJ hinted at there is a simple economic equation. It is as fundamental as the law of gravity and about as easy to ignore. Anyone who has ever had an economics class of any kind has heard of this law. It is the law of supply and demand. It affects everything. Even the items used as ‘money’
        So if you have some item (a bushel of wheat) It will have some value. If you have another item (say 100 one dollar bills) you may want to trade some of those dollars for the bushel of wheat.

        If there are not very many dollars (the dollar was stamped from solid gold or silver for instance) then the owner of the wheat might trade the wheat for just a few or even 1 dollar.

        Now if there are a LOT of dollars available the owner of the wheat will not see the dollar as particularly valuable compared to his/her wheat and will thus want many dollars for that wheat.

        The appearance to the public is that the price of wheat has skyrocketed. The value of the wheat has remained unchanged just that the (paper) dollars are so plentiful that the owner of the wheat wants more before parting with his/her wheat.

        Note that for this example we held 1 of the 2 variables (the quantity of wheat) constant and changed the quantity of dollars available.

    • Average Joe

      Eric g says:
      March 30, 2010 at 8:24 am

      Max M. Warburg (5 June 1867 – 26 December 1946) was a German-born American banker and from 1910 until 1938, director of M.M.Warburg & CO in Hamburg, Germany. Prior to his directing of the Warburg banking company, he developed apprenticeships in Frankfurt, Amsterdam, Paris, and London. As head of that firm, he advised Kaiser Wilhelm II prior to World War I.

      In the 1930s, despite the rise of the Nazi Party, Warburg felt there was hope for the future in Germany and tried to wait out the Nazi crisis. Beginning in 1933 he served on the board of the German Reichsbank under governor Hjalmar Schacht. He sold the bank because of Nazi persecution and emigrate to the United States in 1938.

      Max Warburg married Alice Magnus in 1899, and together they had four daughters and a son, Eric Warburg (1900—1990), founder of E.M. Warburg & Co, later known as Warburg Pincus.

      His brother Paul Warburg was the chief architect of the Federal Reserve Board in the United States.

      OK, so Max Warburg helped to bankrupt Germany and his brother Paul Warburg envisioned the Federal Reserve around the same time. Between 1913 and 1921 the Federal Reserve managed to bankrupt the U.S. by lending monies to the government. Most of the major players were allowed to fail and the economy corrected itself within two years.
      Not to be desuaded, the government went on another spending spree and by 1929 had bankrupted the nation for a second time. This time however the Federal Reserve would not settle for anything less than the gold of the people in payment of this debt (in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce. At a single stroke, Roosevelt increased the government’s gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures).
      As others have suggested….do a little research in the future.

      • J C

        Those are facts Joe. Don’t expect much of a reaction or any understanding of history from the hopey feely left.
        Our system is not “our” system and hasn’t been since at least 1913.
        We’re controlled by people we didn’t elect who pay the people we did elect…completely evil this system of banking we have.

        • Average Joe

          J C says:
          April 1, 2010 at 5:32 am

          lol…I just thought that I would muck up the forum a little bit…too many people forget to throw “facts” into mix….I didn’t mean for them to get in the way….heh….Facts are overrated according to most….

    • MikeC

      Eric, don’t run for President just yet! Let’s help you with your campaign!

      First of all, Germany was bankrupt, because of “the printing press”, and the war reparations from World War I. The citizens were taxed through hyperinflation.

      Secondly, Hilter’s first policy was a Eugenic Healthcare system.

      Lastly, let’s not repeat another Nazi Germany, again! Can you use another example…..

  • Richard R. Tryon

    Gentlemen: Nobody has reported yet that paper money or gold do not represent ALL current storehouses of value or medium of exchange. In fact far greater $$$ value is represented by checkbook, credit card, all sorts of fiscal documents, etc. than what is in circulation as printed currency.

    Unless we need to go back to 19th century trade where gold is carried around and presented to show the seller that the exchange of goods or services for gold is of obvious value certified by biting the gold to be sure it is not impure, we had best not think of limiting printed currency to gold and/or silver certificates, guaranteed by the government of the those states that are united and known as the U.S.

    So, the risk of fiat money can’t be escaped and the only controls are two: a. Honest brokers of the law limiting debt and therefore amount of value in circulation; and b. living up to the slogan shown on our printed currency and coins- “In God We Trust”. This does not mean that God stands behind the value except for the fact that in the past we could count on the idea that the trader involved in our transactions, like you, knew that God’s judgment of each person’s life on Earth inevitably would reflect your integrity.

    My guess now is that integrity driven by love of and concern for God is no longer a common factor in most economic actions. Too bad!

    This leaves us needing to trust our elected political leaders. If they fool too many of us, they can get elected and turn out to represent ways that do not conform to either a or b above.

    Where does this go? You tell me!

  • Andrew Trefethen

    You make a great argument and it seems plausible. But where are your references and what is your source material?

  • Baxter

    http://www.goooh.com
    even if you don’t agree
    click on learn
    click on links
    lots of sites for patriots
    check it out
    we the people need to join as one against the sitting congress

  • Dr. Mabuse

    Bob Livingston is essentially correct in his assessment of fiat currency. Eric G’s assertion: “it is that simple thats why we created the Federal reserve to take politics out of the money… is myopic at best. I would point Eric to the cabal that met on Jekyll Island and the subsequent covert passage of the Federal Reserve Act while most of the legislators were out of Washington with their families and constituents for the Christmas holidays. Woodrow Wilson was installed into the office of the Presidency specifically to facilitate this process. (for the more intrepid amongst you, examine the peculiar relationship between Wilson and Col. House) As long as we have the Fed, the American people will never get out of debt. This whole system of fractional reserve banking and fiat currency IS BASED ON DEBT. The obvious question is: Why would you take the devil as a friend, when he is your sworn enemy?

  • Cindy, RN

    I don’t understand the mentality of those who say “the government will handle my expenses”. The government has no money unless a taxpayer pays the taxes. There are fewer and fewer taxpayers due to unemployment that will only increase b/c this administration has declared war on the producers in this nation. Regulations stifling energy production, OSHA, excessive taxation, unions have all worked together to destroy our manufacturing base and our jobs. Medicare and the VA refuse more claims than the insurance companies, get a CLUE. The government is not your DADDY.

    • J C

      Right On Cindy. The government produces nothing whatsoever. They ron Peter to pay Paul. And they do it with no accounting, no responsibilty and no morality at all.

  • chuck b

    baxter

    whats wrong with the tea party??

    • Average Joe

      chuck b says:
      March 30, 2010 at 10:34 am
      baxter

      whats wrong with the tea party??

      When the “Tea Party” began, it was a group of people who believed in freedom and liberty….who believed in a Constitutional Government.
      99% of the Tea Party were supporters of Ron Paul and his vision of the nation as well as the founding fathers vision. Over the last year, the tea party movment has been infiltrated by the lamestream media (fox news, Glen Beck Etc.) of whom one year earlier were lambasting Ron Paul and his followers as a fringe lunatics. The movement is also being infiltrated by polititians (Palin etc.) who actually hold none of the values of either Ron Paul or the founding fathers…..All thy are doing is attempting to water down the movement
      , which they are accomplising rather well. THAT….is what is wrong with the Tea Party.

      • MikeC

        Infiltrate, divide, and conquer…Average Joe is correct!

      • Robert

        Believe me, I trust Fox News and Glenn Beck a helluva lot more than the communist Obama administration which is the sworn enemy of the the Tea Party. As a matter of fact Fox seems to be the only news network that doesn’t spend all of their time covering up the atrocities of the Obama administration. MSNBC and their shills like Keith Olbermann spend more time drooling and kissing Obama’s rear end than they do reporting anything of substance.

        • Dr. Mabuse

          Robert, I would suggest you take a look at http://www.infowars.com

        • Average Joe

          Robert says:
          March 30, 2010 at 4:55 pm
          Personally I do not trust ANY of the MSM (AKA Lamestream) because they all change politics like the weather changes. Look at who owns the MSM….people like Rupert Murddock, G.E. Turner, Viacom, Clear Chanel, etc….these people and corporations who own these outlets have their own agenda’s (they are also beholden to th powers that be for their licensings and ability to do business).
          The Glenn Beck example above was only one side, they all do it though. Leading up to the elections, Fox News/ Glenn Beck lambasted Ron Paul and his followers…Now the election is over….suddenly Ron Paul is a regular on their shows and is being shown to be correct on all of his predictions on the direction of this nation and the economy. Now, They are in “tune” with the tea party movement….and instead of the original causes that the tea party was trying to accomplish…..there are 50,000 causes and groups (each supporting their own agenda’s). All the original Tea Party Movement wanted was:
          1. Constitutional Government
          2. End the Federal Reserve and have Real Money (gold and silver)
          3. End the Income Tax (and with it the IRS)
          4. Shrink the Federal Government
          5. Return sovereignty to the States and to the PEOPLE
          6. Remove us from foreign entanglements (U.N., WTO,NATO, Foreign Wars, undeclared wars….etc…)
          In other words…we wanted to “Constrain” The Federal Government and get them out of our personal lives…….That is not their job….I for one do not need a baby sitter from cradle to grave…….

        • Tazio2013

          Robert,

          A foolish, uninformed tea-bagger and his freedom are soon parted. Take Dr. Mabuse’s advice and delve into the truth about Fox Noise, et al. by viewing/listening to “infowars” Forewarned is forearmed!

        • MikeC

          Beck is a CIA op! The oldest trick in the book, the British use! The RepubliCONs took the Tea Party over, because it was legit, and they had nothing left. I’m confident people are aware. But, newbies, don’t be fooled. Look into Infowars. You can get the podcasts free on itunes. Anyone hear the interview with Judge Napolitano the other day! This guys for real!

  • Larry Drummond

    Eric G stated ‘As a pound of gold is worth a lot . I’am satisfied that the american dollar is holding up rather well.’

    My question would be – compared to what. Although we went off of the gold standard in 1971 an ounce of gold will still purchase approximately today what it would have then. I can’t say the same thing for paper money. The value of gold then was approximately $38 per ounce. Today it is greater than $1100 per ounce. Gold is not an investment – it is money. The paper’s value is what we say that it is and right now it is a fraction of what it was in 1971.

    • TRUE PATRIOT

      Hello Larry D., I’m not sure what kind of math you’re using or what your mixing with your tea? But I was around in 1971 and I know what 38 dollars worth of groceries looked like then and it doesn’t take $1100.00 to buy the same amount of groceries now!

      • Average Joe

        TRUE PATRIOT says:
        March 30, 2010 at 8:09 pm

        A simple math problem solved.

        1960 Corvette: BASE PRICE: $3,872
        2008 Chevrolet Corvette Base Price: $45,170
        The price of an ounce of … 1960 $37
        2008 871.96

        1960 104.65 oz. of gold to buy a new Corvette….FRN equiv. 1960 $3872
        2008 51.80 oz. of gold to buy a new Corvette…..FRN equiv. 2008 $45,170

        If you had the 104.65 oz. of gold in 1960 and kept it until 2008, it would be worth $91,250.61 …that means that you could have bought the car…and still had half of your money in hand.
        If in 1960 you had the $3872 in FRN’s and kept them until 2008, they would be worth…. $3872…
        So, doing the math, which one held it’s value…FRN’s or Gold?…Fiat currency…no thnx.

        • Normal Guy

          Average at economics and math

          FRN a floating rate note generates interest, it is the advantage of investing and loaning money through banks that opportunity cost of the money sitting in the bank is paid to the investor. This is the vehicle in our economy that balances the inflation in the economy.

          $3850 invested at 6% – pretty close to the average over the period – is $63,116.41.

          The reality with either of these methods of holding funds is that it is inefficient. The gold sits holding assets which cannot be used for anything else, this is the problem with fixing your currency to a commodity, and the asset does no work. in your scenario if there is no fiat currency then there is no inflation, if the economy grows then the value of the car would depreciate as the economy grows and the car would cost maybe a thousand dollars. Why would you ever invest funds when hoarding creates a better return?

          Not a very effective economic model is it.

          • Average Joe

            Normal Guy says:
            April 8, 2010 at 10:36 pm

            In my example above, niether were placed in any type of interest bearing acct. and yet the gold out performed the FRN’s and no matter what variables you put in…the gold will still out perforn FRN’s.
            As for your comment earlier concerning Keynesian economics being the most popular theory….it is still just a theory and really hasn’t been doing so well for the last hundred years in the U.S…..just because something is the most popular…doesn’t make it any better than any other “theory” out there. Myself, I will stick with Austrian economics. Don’t bother to respond…Liberal minds can come up with a million ways to explain their lack of true intelligence…btw…let me know when you manage to “borrow” your way out of debt.

        • Normal Guy

          Joe

          That is the point, you can’t put gold in an interest bearing account. You have to convert it to a currency to do that. Incidently, up until about six years ago your gold would have given you a pretty weak return and if you used a base year that was not starting from gold being pegged at $38 perhaps in the early eighties where it was $800 then you would have had a substantial loss.

          You just don’t get it do you, you are wrong.

          • Average Joe

            Normal Guy says:
            April 9, 2010 at 5:53 pm
            Joe

            That is the point, you can’t put gold in an interest bearing account. You have to convert it to a currency to do that.

            OK..so by your theory, there is no way to profit from gold other than a interest bearing acct?…and since I can’t get a interest bearing acct;…I can’t make a profit? LOL…too funny. There are many ways to invest…using any type of commodity…I could invest my gold into a company…and specify that all profits are paid in Gold ..or silver….or anything else that I choose to put into the contract….why on earth would I want to invest at your measly 6%…when I could invest and show a substantially larger profit?….I guess that’s the way the big boys on Wall St. play…6% interest bearing accts…..lmao….what color is the sky….in your world?….have you managed to “borrow” your way out of debt?…Tell you what…you keep your FRN’s..and I will keep my gold….let me know how it works out for you…in say….10 yrs.

          • Normal Guy

            Joe

            The heights and depths of your ignorance are amazing. We are talking currency right, your position is that gold is a more secure currency than fiat money, right. If you can keep that focus in mind, perhaps you can see how dopey you are, probably not but this is fun for me.

            So gold was fixed at $38 until Nixon defaulted to France on the gold backed dollar because there was nowhere near enough gold at $38 to back the dollar. So then we get stagflation high interest and no growth. Gold goes to $800 then the economy gets back on track and gold falls to $400 until about 2000 when it falls to about $250. Then we have bush dual deficits for 8 years and huge global meltdown and gold goes to $1150 and you think this is a good argument for holding gold as a store of wealth?

            First there is way too little gold to back all the currencies, second to invest gold you need to either transfer the physical commodity or create a currency to represent the commodity. If every dollar is to be backed by gold then either the gold has to be deflationary that is one ounce buys more than it used to which means that you have constant downward pressure on prices – deflation – that means that people hoard as they feel that they can get a bigger return by holding resources than investing them. If you have a contracting economy then no demand for gold and the price goes down which means that each ounce buys less so inflation during a contracting economic cycle, sounds like a great policy.

            Commodities as currencies don’t work in complex societies, that is why back to the start of republican forms of governments central banks , generally outside the government like in the US were formed. This is why Alexander Hamilton proposed this structure for the US when the nation was founded.

            Oh simple Joe – what company can you take gold to and invest in ()buy or sell), what exchange allows you to do that? What company pays dividends in gold? I’m sure that you are the master investor and can generate monster profits way more than an average of 6%, look out Warren Buffet, the master investor Joe is about to enter the investment world. You are truly clueless, typical of those on this site, simple solutions unfortunately no knowledge and NO IDEA simplistic simpletons.

          • Average Joe

            Normal Guy says:
            April 10, 2010 at 11:40 am

            So gold was fixed at $38 until Nixon defaulted to France on the gold backed dollar.
            So, How could that have happened? Doesn’t congress hold the purse strings? Do they not know how much gold is in the public coffers?Do they not know how to balance the books?…If they knew that they didn’t have the gold to back up the loan,Why did they borrow it in the first place?or was it because of those Keynesian bookeeping practices?….I mean after all it is the number one econmomic “theory” (depression 1921-23, Depression 1929-1933, Reccession 1933-1946, Reccession 1970′s, 1980′s, Reccession/Depression 2000′s) and it seems to be working out so perfectly. You know those creative bookeeping shannannigans that caused…Enron. The entire problem rests with the fact that our Federal Government does not know…nor do they wish….to live within their means, or mind their own business. Free Market eonomy with regulation on the state and local level and “LAWFUL”(lawful is the key word here, Try reading The Constitution Article 1 Section 8, It is STILL the law) currency.Just so you know, you are intitled to your beliefs and regardless of what I think of your intelligence,I will not stoop to your level by calling you childish names. BTW…if you check your history out, you might fihd that our founding fathers argued against a centralized bank, simply because of the “Golden Rule”….He who controls the gold….makes the rules. Have a nice day sir, and may you someday become enlightened.

  • thepeoplerise
  • karl koebke

    Get rid of Congress the Supreme Court and Wall Street and Obama! Everything else is only talk. We have enough of that dayli!

  • chuck b

    average joe

    the tea party in your area must be different than mine. ron paul is now a factor here, sarah palin is. i disagree with your opinion of palin’s values, she is very much a patriot and doesn’t get lost on far out conspiracy issues.

    • chuck b

      misprint: i meant ron paul is “not” a issue here

      • Rick

        Palin works for the RNC. She is politics as usual – somewhere you missed her tactics -
        She set up a bidding process for the great pipeline scam that insured a particular lobbyist would win and did – after they stated they would build without subsidy she set up Alaskans to pay them $500,000,000 anyway. That plus the non-conservative wasteful expense accounting should tell you something.

        • Robert

          I like Palin, but I must admit I was disappointed to see her campaigning for John McCain. McCain is a RINO (Republican in name only) and just as worthless as the left wing Commiecrats in the govt. When the Republican Party runs politicians like McCain or this Lindsay Graham joker for public office, they become as worthless as the Democrats have become.

      • Average Joe

        chuck b says:
        March 30, 2010 at 11:49 am
        misprint: i meant ron paul is “not” a issue here
        The question was…”what is wrong with the Tea Party?”
        A little bit of research on your part would have shown you the …the Tea Party idea originated in 2007, it started on December 16 2007 with a money bomb for Presidential hopeful Dr. Ron Paul…December 16 was decided on because it was the anniversary of the Boston Tea Party which took place December 16, 1773. On that day in 2007 ordinary people across the nation sent in private donations (no corporate sponsors…only individuals) to Dr. Paul’s campaign and raised over $12,000,000 (that’s 12 million dollars) in one day…that was the official kickoff of the Tea Party Movement…..so, There you go joining a group of people in a cause…and don’t even know the roots of the group’s beginnings….or the cause…..

    • Average Joe

      chuck b says:
      March 30, 2010 at 11:48 am
      average joe

      i disagree with your opinion of palin’s values, she is very much a patriot and doesn’t get lost on far out conspiracy issues.

      What conspiracy theories do you speak of? I have never heard Dr. Paul say that he had any consiracy theories…if you have, please send me the links….I don’t believe you can. Please don’t put up something that someone else wrote…claiming that this what Dr. Paul said…anyone can write anything….I want to hear it straight from Dr. Paul’s mouth….there’s your challenge…have at it!

  • Samuel

    Anything as simple as a medium of exchange, that is taken and complicated to the extent the dollar and every other fiat currency has been, is a deceiver. Look how complicated the tax law is; it is certainly a deceiver and set up as a collection agency for the fed. Deceit is complicated and hard to understand, while the truth is simplistic in nature and easy to understand. The fed and it’s fiat was put into place for the benefit of the few and to the detriment of the many.

  • Uncle B

    China calls the shots for America now! Obama’s overtures for trillions in loans were ignored by China recently. Geithner was laughed at in his dissertation on how world economics were to be in China – they laughed him out of the hall – not covered by NBC,ABC, CBS, CNN – propaganda by cover-up of reality? I think so! China unloads its financial involvement with the U.S.A. every time it gets a chance to purchase foreign natural resources, and China is big enough not to fear the U.S. and its saber rattling. China showa little interest in respecting U.S. patent law, and openly copies everything in sight as well as crying loudly when anyone else hurts their idas of what is or isn’t sacred – Rio Tinto execs jailed! In China! The average American citizen lives far beyond his/her EROI, not so the European, the Asian, the Canadian – they all spend less eat less require less for survival and produce considerably more! Take away the “cheap oil era” leverage and most Americans without their “oil leverage” will die of starvation in the dark! The Great Hulking
    American neanderthal, spawn of over two hundred years of selective breeding for size and force feeding by the corporatists for the express purpose of exploiting the easy resources of American continent, now finds himself facing extinction as those resources have dwindled. He finds himself in a computer aged where 89 pound Asian women can out-manufacture him with ease in well planned, computer driven hydraulically assisted electromagnetically aided, ultra-modern factories built in Asia by Capital he generated in America and by the corporatists and Capitalists of his own country, for the exploitation of cheaper Asian labor! He has been screwed to the ninedby his very creators and must now try to support a high energy output, high carb consuming high neat consuming body typing letters on computers with great fat fingers, a thick brow furrowed as he squints with eyes bred to see distances, his great ass sweating a horrible smell, well lubricated for labor but unsuitable for office spaces, his great muscular armpits fermenting in the dampness of closed quarters, even his feet stinking and sweaty, not in the customary work boots of old, in a low exercise situation he simply is not built for! He is trapped in a vicious circle of his country-mens making and faces failure and food lines and finally the “Selection Committees” of the medical insurance cartels and certain unemployment and refusal of care and death even for his ilk , his children and wife – such is life in the crazy American whirl!We are all on the cusp of survival and only one lie away from Hell here in the U.S.A.

    • MikeC

      Rent it at a B film Red Box nearest you! Nice touch, slave! You sound a little bitter! Obama getting you down!

  • Lewis

    I was crippled twice before I reached ten years of age, first by polio in 1943, then by incephalitis six years later. I am now 69 years old and suffering from post-polio syndome, arthritis and hand tremors. I was gifted with the ability to draw, and I worked hard as a child to develop my talent. I was a able to draw pencil portraits looking at photos of friends by my senior year in high school. I learned to letter and paint signs in college, and to engrave trophies and jewelry in my first job after graduating high school in 1959. I then worked for years lettering for grocery chains, sign shops and myself in private studios in diverse places. I am now, because of the infirmaties listed above, on social security and medicare. It costs me $110.00 per month for medicare, and this caused monitary problems for me after moving from California to Oregon, since Medi-cal had been paying the premiums before the move. I received only $280.00 in social security last January because they had deducted the medicare premiums for three months from my automatic deposit. The following month I received $370.00. My SSI had been reduced to $110.00 per month. All of this has resulted in my van being repoed and my credit to go into default. None of the credit card providers will allow me to actually pay down these debts, they simply increase every month through late charges and added fees. I contracted with a debt consolidation firm which turned out to be a failed concern after I checked with the BBB. I know this sounds like a sob story, and it is, but it is a fact for not only myself, but for thousands more like myself in this country. The greed of the banksters and the loan sharksters in this country are bringing us to our knees. I weep for our country if this mobster rule is allowed to continue unabated. It is being condoned by both major parties, because it is money in the bank for those who already have far more than they need to survive in splendid style. I have respect for all those who earned their billions by hard work and legitimate means, but none for the ones who made it by harming others in their climb to the top.

    • Jimmy G

      “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” 1Tim 6:10
      If you add up the interest paid on the original debt, I think you will find its been paid. At this stage in life, who needs credit. Credit card companies will take 40 to 70 cents on the dollar, make them an offer or run it up and default.

  • Delores Smith

    Dear Bob,
    Thank you for your great article. It really informed me.
    A WOMAN’S VIEWPOINT
    Do any of you recall the famous photograph of a man pushing a wheelbarrow with lots and lots of paper money? He was going to the store for ONE loaf of bread.
    Do any of you realize how filthy paper money is? It goes from a woman’s purse…into a man’s pocket…into a cash register…back into a wallet. Here comes a mechanic who has been repairing his car. He stops by a store, hands the man a $20.00 bill, puts his change in his pocket (doesn’t have a wallet).
    I believe Bob has helped me find the causes of most illnesses, i.e., viruses, strep throat, etc., unless we wash our hands before and after touching paper money.
    I agree with Bob. As Goldline says, I prefer an asset that I can hold in my hand…G O L D. I can also clean it…gently, and rid the world of illnesses. Thanks, Bob.
    Delores Smith
    Delores109@cox.net

  • jms

    For all of you who would like to be enlightened as to what is happening in this country and perhaps do not understand fully the monetary system or the somewhat covert method of socialism taking over, may I recommend that you all read the book “The Creature from Jekyll Island”, by Edward Griffin. It very clearly
    explains the entire monetary system and what the ultimate goal is of those that created it. It’s a great read! Trust me, you won’t be able to put it down and it is based on primary sources. Don’t be intimidated by its length, it reads like a mystery novel.

  • http://ocii.com/~dpwozney David Wozney

    If the stated value, of “Federal” Reserve notes, declines enough with respect to copper and nickel, the 1946-2009 nickels, composed of cupronickel alloy, could completely disappear from mass circulation.

    According to the “United States Circulating Coinage Intrinsic Value Table” available at Coinflation.com , the March 30th metal value of these nickels is “$0.0595636” or 119.12% of face value.

    • Average Joe

      David Wozney says:
      March 30, 2010 at 8:30 pm

      I don’t remember where I read it, but I did read that after this year….nickles will be made from zinc….the same as pennies…and layered with cupronickel alloy. Many people do not realize that pennies have been being made from zinc for several years now….for the very same reason….I have been saving nickles for over a year now…sometimes you have to start small….lol

  • http://verizon kbab

    ALL YOU CHRISTIANS THIS IS TODAYS NEWS APRIL 1st 2010 YOU MUST READ IT IF THIS LINK WORKS.http://waronyou.com/topics/virginia-delegates-pass-bill-banning-chip-implants-as-%E2%80%98mark-of-the-beast%E2%80%99/

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