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Paper Money Is Not Wealth

November 28, 2011 by  

Paper Money Is Not Wealth

Have you ever seen “old people” hold and fondle their paper money? They count it, hide it under the mattress and bury it for safekeeping.

Remember my example of the power of inflation? I said that you could bury your paper money 40 miles deep in a sealed concrete vault, and it still could be inflated or devalued to nothing. There is no way to preserve your paper money. It is up to the money creators to not overprint.

Here’s how we are fooled: People equate fiat paper money like U.S. dollars with wealth. Only if paper money held its purchasing power could it be a store of value. Only then could you bury it and forget it.

For now, the safest currencies are those tied to commodities, such as the Canadian dollar (CAD) or the Norwegian kroner (NOK).

In addition to being commodity currencies, these countries are not reckless with their currencies and national resources. Most people do not understand currency gains (or losses). Right now, with the U.S. dollar and the U.S. economy in big trouble, there is not much risk to be in a foreign currency. We prefer the Canadian dollar, right after the Swiss franc.

The U.S. dollar does rally from time to time, but the long-term trend is down. We must understand this in order to protect our savings and investments.

The only thing that the U.S. government and the Federal Reserve can do under any pretense is to debase the currency. They do this by printing money or massive devaluation. It is not a solution, only a delay.

It’s a cruel hoax! Debasing the currency cannot and will not bring prosperity. It will bring ruin. It always has. It can come only to final default.

Printing money plus big devaluation means default — maybe not suddenly, but default is guaranteed. Understand this today, all people who hold U.S. dollars.

Alan Greenspan is the man who printed more paper money than anyone in history. In a candid moment he said: “Inflation is taxation. Inflation is the hidden confiscation of wealth.”

It is the direct result of government, through the central banking system, expanding (printing money) the money supply. They create new money so they can spend it into circulation to pay for their ever-increasing spending programs. Deficit spending is simply a scheme for the hidden confiscation of wealth.

Your government and the Federal Reserve private bankers are counterfeiting. We need desperately to understand this and dwell upon it. In 1792, a law was passed in the United States that mandated the death penalty for counterfeiting.

How far we have fallen!

The drive of the elite is a constant attack on the middle class with fear-based propaganda. The thrust is to seduce the middle class into giving up power and wealth for “security.”

There is a consistent downgrade of the individual and personal liberty in favor of internationalism.

The politicians are swimming naked, and it is easy to see that they are unAmerican and working for their elite controllers.

What’s Next?

More of the same, just with greater intensity. Better add war clouds!

Here are probabilities:

  • Continued money printing, maybe under some disguise or many disguises. The American people should never discover that the money creators are carrying on modern warfare against them. No matter what name or pretense they use to print money, they are transferring wealth from the people to the money creators. All U.S. dollar assets are under attack. Did you hear your politicians warning the American people? The exceptions are Ron Paul and Texas Governor Rick Perry, though I’m not sure he understood what he was saying.
  • Massive devaluation of the U.S. dollar. As if consistently printing multitrillions of new dollars weren’t enough, we might as well prepare for the eventuality of an overnight or weekend huge devaluation preceded by denials “that it will never happen.” Desperate governments do desperate things, like attacking their own people. We may believe it or not. There is more than enough precedent in America and the world.
  • Exchange controls. Greater restriction of money leaving the United States. The excuse will be the same old, same old “money laundering.”
  • Money printing creates higher prices on everything. Few people are alert to the fact that higher prices are caused by money printing. It is the value of paper money going down that we call inflation or higher prices.
  • Stepped-up police state under a barrage of propaganda. Our politicians will cooperate with the police state. There will be more and more controls and restrictions of freedom.
  • New war(s) will be waged under the same old fear-based propaganda. Warfare is a vital part of a worldwide paper-money system. It is the alter ego of the Keynesian welfare state. I suppose we could say paper money plus blood is the foundation of the Keynesian welfare state.

“When money dies” and the failed State can no longer conceal the cause d’affaires, war is inevitable and certain. Evidence of the failed State is everywhere, even worldwide.

The classic option now is war as a fail-safe stimulus. This is the ace of the welfare-warfare State. The population will unite under war propaganda and inspire new life into disguised authoritarianism.

War is what’s left. Since people are waking up to the grand theft of the money creators and the widespread fraud of the system, “the ruling elite will inevitably turn to bloodshed as a source of economic stimulus.” From Slaughter as “Stimulus” by William Norman Grigg.

What could revive the crowd to rally behind the rot of the system and its stooge mouthpieces but the hysteria of war? So war is more than bloodshed stimulus. It is a political panacea. This is the basis of war crime that murders millions of military personnel and civilians.

It is perfectly astounding and amazing how people will give up their sons and daughters for ritual sacrifice under the pretense of patriotism.

The system is reduced to non-productivity and political vulgarism. The elite must shift gears to war by creating phantom threats, both external and internal.

The collapse of the U.S. economy into a modern depression is the perfect platform on which to create war clouds.

There is one shabby little secret here. The secret is that concocted war must arise on propaganda and deceit. The truth would shatter the whole thing. For one certain thing, the bloodthirsty politicians and their hidden masters would be revealed for the subhuman vampires that they are. Public executions might follow. Even as docile and manipulative as Americans have become, some percentage of them would be triggered to explode into anger and retribution.

We need to awaken from our childish love affair with democracy and realize that while the U.S. Constitution is still on display in the United States, we have descended into militarism and corporate socialism not unlike Nazi Germany. Didn’t Herr Hitler proclaim that Nazi Germany was a “great democracy?”

For many years now, the heartbeat of America has been imperialism. We have intimidated the world under the weak doctrine of antiterrorism.

Our sons and daughters have been the cannon fodder for foreign wars for several generations. And for what?

It is a monument to modern propaganda how the entire psyche of a country can be mobilized to surrender their children and wealth to the myth of war-fear created by the State for economic revival. No death and destruction are too much to make the fabricated cause real and to make a massive transfer of wealth to the elite.

Modern propaganda is especially adept at twisting our language into thoughts and phrases that serve the State. Bad things are manipulated and twisted to sound good and good things become bad, with our warped vocabulary.

Please read When Money Dies by Adam Fergusson, first copyrighted 1975 and since republished. It’s all about the nightmare of the Weimar German hyperinflation of 1923.

Bob Livingston

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

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  • s c

    For decades we were told the dollar needed to be devalued because it was good for ‘business,’ and American firms overseas needed ‘help’ via that devalued dollar. Were our firms overseas were more important than the American people?
    The dollar has been devalued so many times that it’s almost worthless. Does that mean we have money experts or fakirs in charge of our money?
    When will our money experts breathe life back into the dollar? I thought that when something is slowly strangled it must eventually die. Maybe the dollar is already dead, and our high priests of money don’t want to talk about it.
    If we have to have a new dollar, does that mean we’ll also need a new high priest? It’s all so mysterious. Is Mr. Obama qualified to take over for Mr. Bernanke? Bernanke is supposed to know everything about money, but he can’t do anything. Mr. Obama doesn’t talk about money. All he does is spend it.
    I’m glad they love us, though. If they didn’t really love us, we’d be in DEEP stuff. It’s so nice to have friends, isn’t it? Now, when will our dollars be worth more than fancy toilet paper, and who are our real friends?
    I guess what I really want to know is whether our money experts intend to help us or if they’re so corrupt that the last thing they’ll ever do is help us. So why have a ‘big brother’ if that big brother acts more like our worst enemy? It’s so confusing,
    and no one seems to have any answers.
    Do we have any money experts in America? Did we
    ever have any?

    • Al Sieber

      I would say the real experts were the founding fathers when they wrote the Coinage Act of 1792. they knew about a central bank, and what could happen.

      • FreedomFighter

        Ron Paul 2012

        Laus Deo
        Semper Fi

        • Brian

          I can’t say ‘Laus Deo, Semper Fi’ but I can say ‘Ron Paul 2012′!

          • http://N/A George R. Clark

            Does everybody really and truly want a purely Constitutional United States. What about the loss of the many things we have come to love that are not according to the Constitution won’t they have to go?

          • JeffH

            George R. Clark, and what may that be? We should start by abolishing the Federal Reserve Act? Then the 14th amendment?(“The validity of the public debt of the United States, authorized by law… shall not be questioned,” reads the 14th Amendment) How about the 16th amendment?

          • Kate8

            George – What? Like entitlements? Sure, some folks would balk at giving up the free ride, but they’re going to soon, anyway.

            It will be Congress and the rest of federal government who would have their hands tied and would have to relinquish much power. The states will still be free to decide what kinds of public assistance they wish to provide, and what kind of order they wish to establish.

            The main thing would be that the restraint would be placed on what government could get away with. The greates rule of law should be one of NO HARM…we are free as long as we don’t impose on the freedom of another.

            The Golden Rule is always the best rule to live by. You simply can’t go wrong with that. As it is, government does unto us the things they exempt themselves from.

          • Old Henry
          • JeffH

            Old Henry, thanks…I’ve bookmarked the link… :)

          • Joe H.

            According to what I heard on the news today, the value should go up a little soon! Bawney has decided to RETIRE!!! Praise God!!! Another Philistine defeated!!!

          • JC

            What things would we lose George?
            I think you’ve got it the wrong way around.., we’re much more likely to “gain” with personal freedom restored in a Constitutional Republic.

          • Hughze

            Ah Mr. Clark,

            Please read the ninth and tenth amendments to the constitution which clearly state that all rights not written in the constitution are reserved to the states and the people. So my question to you is do you really want to be governed by no constitution?

    • DavidL

      Another psychotic rant by SC. If the dollar is useless, then explain why it is it the reserve, and preferred, currency of the entire world? The value of money is devalued to make a nation’s products cheaper and therefor more competitive. It is done by all nations with it’s own currency. Unfortunately for Europe on the Euro, that options is not there for Italy, Greece, or other nations struggling to come out from under it’s debt problems.

      Is not the US and WTO complaining about the unreasonable and unfair devaluation of China’s currency?

      • Alex Frazier

        David, do you not see the hypocrisy in what you are saying? You say in one breath that devaluing currency makes products cheaper and more competitive. You say that it’s unfortunate that countries like Italy and Greece can’t continue to do so in order to come out from under their debt problems. And then you point out that everyone is complaining about China doing it. lol.

        The reason the dollar is the reserve is that about a century ago, the dollar had a gold reserve. It was worth its face value, more or less. While the rest of the world was plunging into high inflation, the United States was not. We had sound currency. Other nations didn’t. So they used the US dollar as the international trade currency, trusting in its value and stability.

        Now that the dollar has the approximate purchasing power of a nickel, countries like China and Russia are trying to replace the dollar with some other currency.

        So you understand, it is the consistency of a currency’s value that makes it desirable for use in trade. That’s why gold has managed to stay the primary standard for almost four thousand years. It is in limited supply. To inflate it, you have to find more. You can’t just print up a bunch of gold.

        Instead of calling people names, you should do some research. You clearly don’t understand as much about money or economics as you might think you do. Calling people psychotic for being right makes you look like a fool to anyone who knows better.

        And for the record, Weimar Germany tried deliberately devaluing its currency to make their exports appealing. It didn’t work. It just exacerbated their inflationary problems. I have and have read the book Bob recommended. It details the decline. The money became so worthless so fast that people had to cash in their retirements to buy a day’s worth of food. Devaluation, inflation, and money printing is deadly to any nation.

        • Kate8

          The reason why the dollar became the world reserve currency was because a deal was struck between the US and Saudi Arabia to make it the official currency for trading in oil. That is, oil had to be purchased in dollars. Everyone wants oil, so everyone wanted dollars.

          The Middle East does not set oil prices, nor determine oil currency. The globalist banksters dictate this. Now, since the dollar is in full decline, the Arabs no longer want dollars, so no one else does, either. If the dollar no longer buys oil, it’s toast as a world currency.

          • Old Henry

            Right on the nail head Kate8. If my fuzzy memory remembers correctly it was Kissinger that struck the deal, or at least he was the front man.

            Good to hear from ya. It’s been a while. Hope ya’ll had a nice Thanksgiving. Glad ya popped in fer a visti. Carlucci stopped by Thanksgiving morning. She is doing will with her new yob.

            Old Henry

          • Mike W.

            That was August 15th, 1971. Nixon took us of the gold standard and decided to let the dollar float. Also, he used an executive order for his infamous wage/price freeze that followed that announcement.

          • OB1

            Missed you Kate.

          • Alex Frazier

            Kate, that’s not exactly accurate.

            The dollar became the world reserve currency in 1944 at the conclusion of the Bretton Woods conference, which was attended by more than 40 nations. It had nothing to do with Saudi Arabia. And OPEC was founded in 1960. OPEC was in direct control of oil prices outside of the United States, who produced their own oil up to a certain point, until oil was put to open market exchange. Now the price is determined by market supply and demand.

          • Richard Pawley

            But the deal that Kissinger and Nixon made with the Arabs, Alex, guaranteeing them we would buy all our oil from them if they would re-invest a certain amount – I’ve heard 30% – of it back into US Treasury Bonds solidified the idea that the dollar was the currency to have, if not as good as the gold it used to be, at least as good as black gold. When the Arabs agreed to only accept dollars for payment anyone else who wanted to buy their oil from OPEC had to use dollars so other countries needed dollars too, and we got hundreds of billions of money pouring into our treasury, and we spent them like they were real. All that will be ending in this decade or the next, and some think much sooner than that.
            If we don’t start using our own oil and gas then when the whole system collapses we will have no money and no fuel, gas, oil, or diesel fuel either. Of course the plans of the EPA are to eliminate at least another million US jobs over the next decade by not letting us use our own resources starting with coal. Already the oil from the oil sands of Canada which we were going to partner with them in using are going to be going to China because we have an ultra-liberal president and Senate that cannot break out of their ideologue mode of thinking, much like those involved in religous cults, and that is very sad. May God help us because no one else is going to do so.

          • Kate8

            Thank you, Richard Pawley.

            As everything else, it was all put in place incrementally. Everything led to the world oil dominance.

            Alex, it was a set up from the start, with the intent on the part of the elite to use oil as the means to gaining unfathomable wealth, in order to put in place a world control system which, at the appointed time, would collapse the entire system and emerge as the world- governing body.

            The idea of free markets and all the rest have been nothing but illusion, so that we would keep on track with their plan. They have done this all over the world, raising governments and economies up, and tearing them down. In America, we have believed ourselves to be above and beyond this kind of manipulation, believing ourselves to be sovereign and our system secure. Illusion. All illusion. Instead, we have simply been used to strongarm the rest of the world, thinking that we were saving them from themselves.

            The American people are basically a good people (although declining), and we have been as occupied as everywhere else. Our entire system has been thoroughly infiltrated and the planned takeover is happening right before our eyes, although most still don’t see it.

            All I really do know is this: nothing is as it seems. Nothing that we have ever been taught is true. NOTHING. And we will never be able to free ourselves until we are willing to let go of needing things to be the way we believe they are, and understand that our minds (and hearts?) have been plugged into a matrix of total deception. We we clearly see this, we will no longer be so easily controlled.

          • talkinbout

            Re:Richard Pawely, I keep hearing that we should use our own oil but I also hear that all oil, no matter where it is found, goes on the world oil market. I also hear that if we drilled for all the oil we could in this country it would not be enough to bring down gas prices more than a few cents. Is that not true?

            From the reports I’ve seen, the reason the oil sands pipeline from Canada didn’t go through was because the good people of the midwestern (mostly conservative red) states, through which the pipeline would have gone, protested because of the fear that it would affect their water supply.

            It’s funny to listen to right wingers call Obama an “ultra liberal” on one hand and then listen to the left wingers calling him a traitor for being too much to the right. From what I can see, he’s pretty much coming from the middle and that’s the reason he has been pissing off both sides.

            I would rather not vote for Obama in the next election but I don’t see any of the Republican contenders being any better and possibly worse because they will continue to push for the same policies which got us in this mess in the first place.

            I just can’t think of a single bill or piece of legislation from Republicans in the last quarter century that had as it’s main objuective to help the middle class. I, also, cannot find a single country that got out of a recession or depression by cutting only. Republicans were elected to the House last elections with the hope of creating jobs but instead of creating jobs have done more to cut jobs. We tried the trickle down, free market policy with the last three Republicn Presidents and each one left record debt and are responsible for two thirds of the current debt. How many times are we to try the same thing and expect different results?

          • Kate8

            talkin’…You are still thinking inside the box. This is not a Democrat/Republican issue any more…(if it ever was)…They are all sold out to global elite bent on world government. As long as we think this party or that is the answer we will continue to spiral down. They are all nothing but treasonous puppets.

            No, the answer lies with US. We must stop abiding by all of the outrageous laws they keep passing, laws which they have NO AUTHORITY to pass. They are regulating our very humanity, and we put up with it as if we have no choice. Why? Because they say so?

            Our selected officials are no different from you and me, except that they’ve been offered the cushy life for selling their souls and betraying their countrymen. They deserve nothing but our contempt.

            But bless them, anyway, because blessings not merited return to the sender.

          • Old Henry


            “If we don’t start using our own oil and gas then when the whole system collapses we will have no money and no fuel, gas, oil, or diesel fuel either.”

            That is Little Barry’s wet dream as well as the Democrat Communist Party.

          • Old Henry


            I get as frustrated as you, but remember that the Republicans control only the House. Harry Reid is still firmly in power in the Senate.

            The House has sent several bills to help job growth / creation to the Senate and Reid sits on them never bringing them to the floor for debate.

            “Trickle Down” does work as proven by the increased revenue to the Treasury. However, Congress spends every dime of the increased revenue, and then some. And yes, the Republicans controlled the Congress for 6 of Bush’s 8 years so they are just as tarnished as the Dems.

          • talkinbout

            Re: Kate8, I am fully aware that both parties are, for the most part, corrupted by big money. I am also aware that Republicans will do more to keep big money in politics and help their rich friends than the Dems. I tried to say that in my last paragraph. I ask again, can you name, for me, any bill or piece of legislation put forth by Republicans in the last quarter century that had as it’s main objective to help the middle class or any country that got out of a recession by cutting jobs as the Republicans have been doing and will do more of if they gain control of congress?

            Unfortunately, reality dictates that we have to go with what we’ve got which is somebody from one of the two major parties.

            I agree that we need a new party but there’s no guarantee that a new party wouldn’t also, eventually, become corrupt – “meet the new boss, same as the old boss”. Big money will always have big influence. For now all we can do is vote for any candidate that promises to fight to keep big money’s influence at a minimum by getting as much of it as possible out of our politics but also knows how the economy should work for the middle class.
            A cross between Ralph Nader and Ross Perot maybe.

            I’d vote for any candidate that was for doing, at least, these four things.
            1. Rescind the so called Supreme court’s decision on Citizens United. Corporations are not people and money is not free speech as our founders meant it.
            2. Fix our trade policies so that our products can compete with other countries on a more level playing field. Example: Solyndra failed because China could sell the same product in this country cheaper than our companies could.
            3. Tax speculative trades in the stock market to discourage speculators that drive up the price of things like gas and food for personal gain.
            4. Reinstate the Glass-Steagall act and increase oversight of the banking system. Essentually make the SEC do it’s job.

          • talkinbout

            Re: Old Henry, can you tell me more about the job creation bills that you say the House has sent to the Senate? I haven’t heard of anything different from the same old cut more taxes and regulations for big money that got us into this mess.

          • Joe H.

            remember Talking About,
            Tarrifs and trade barriers do NOT WORK. All they do is stiffle free trade!!

          • talkinbout

            Re: Joe H, why are they working so well for China?

          • Joe H.

            Financial experts are now saying that China in in a bubble much like we were, in that they are touting cheap land and growing inflation. They also predict that China will soon bust just like the rest of the world. This is evidenced by the fact that China is trying so hard to devalue their currency.

        • professor

          Good post, Alex..

        • budman

          Alex: It is my belief that the World Bank and many countries desire the elimination of the dollar as the currency standard and this may happen if Congress doesn’t get their act together.
          The result will be higher costs for us. Whether it will happen or not, in my opinion depends on what happens in Europe where the economic picture is dire and also China who is approaching this as well as a result of growing too quickly.
          Very few realize the economic base of this country is still five times the size of China although it would appear otherwise. This is important factor because when other countries fall, they tend to look to invest in the United States. Over time,I believe this country will become much stronger and possibly even avoid losing the dollar as the currency standard.

          • Alex Frazier

            To be clear about one thing, the dollar is OUR money, and it’s not going anywhere. Other countries are maneuvering to become the new international trade currency. That alternate currency would simply fulfill the task the dollar currently does. And just as there is still the Yuan, Euro, Yen, etc., there would still be a dollar. People in other countries just wouldn’t use it when trading internationally.

            The significant problem with the dollar not being the international trade currency is that we won’t be able to print money like there’s no tommorrow any longer. We do it and get away with it because everyone presently has to use our money. When other countries, the ECB, or the IMF manages to get some other currency to become the international trade currency, no one will any longer be required to acquire our worthless dollars.

            When no one wants them, when they are worthless, and when no one needs them, we won’t have the power to write our own ticket anymore. That would put us into economic chaos. The power of the printing press will lose its ability entirely. We’ll be at the mercy of a foreign bank to lend us the money to give hand-outs to our people and corporations. We’ll lose the power to make war. We survived the cold war when Russia did not because we can print money the world has to take. Russia couldn’t, and no one wanted their worthless Ruble.

            Personally, I don’t have a problem with our monetary collapse. Those wise and prepared who have bought gold and silver will have the means to buy into the new dollar when we suffer an internal default and reset our currency (which is what is actually the most likely thing to happen).

            A one world currency is very unlikely. Authors like Griffin with his Jeckyll Island theory are not being realistic. His information is good, but his conspiracy theory requires a suspension of disbelief. Just look at Greece and Italy. There’s enough trouble right now with the Euro due to individual state sovereignty and the inability of fiscally responsible countries to force fiscally IRresponsible countries to observe the wisdom of austerity. And so countries like Germany are now in danger of eventual hyperinflation like the rest of the Eurozone, even though Germany, who has tried to fight the direction things are going, is being forced to bend the knee.

            Now compound the problem by adding the rest of the world, and trying to force countries like liberal United States and England to observe austerity. It’s just not going to happen any time soon.

          • Alex Frazier

            Oh, to clarify, when I mention Griffin’s Jeckyll Island theory, it was my intent to specify the shift to a one world currency. Much of what he had to say may very well be accurate. There may indeed be men pushing that agenda. A lot of our wars may indeed have these men behind them.

            I only mean to say that I don’t think his theory that we are moving towards a one world currency is realistic. The rest I agree with to one extent or another.

          • Joe H.

            Alex Frasier,
            you aren’t completely correct in what you say. Remember, a lot of single currencies were replaced by the Euro!!! The Euro is partly to blame for Europes financial problems. when you have a single currency for a whole lot of countries, you have to take the good with the bad. Now that Greece is failing, all the others are going to have to prop them up!

      • Eddie G.

        DavidL,you need to get out a “dollar” and read it. On the top it says, “Federal Reserve Note” and the bottom “One Dollar”. On the reverse it’s The United States Of America” and “One Dollar” also. What does this all tell you? This is fiat junk paper of $1.00′s worth of nothing. Go to a coin shop and locate a silver certificate which was “money” at one time. It was redeemable in silver coin. Now which is worth more. Your fabled Fed note or silver? A gallon of gas cost over $3.00 whereby in real money it cost a quarter in silver coin. I could care less about other countries. I care about our country and how we have to live on the forced government tripe we’ve been handed. We need to get back to the gold standard,junk all alphabet soup federal agencies save for very few essential ones and the EPA,isn’t one of them. The tax code is a farce and needs dumping replaced by the fair tax. Returning to the gold standard will reign in the money supply and drastically reduce inflation to zero. Congress won’t be able to spend willy nilly as the “money” has too much value. Where the hell do you think the “dollar” as a standard for the world came from? Not from Fed Reserve monopoly money but from precious metal backed money of which the supply was limited and had real “value”. A fire can destroy a paper note and you’ve lost nothing but the worthless paper it was printed on. A fire destroyed silver certificate is a real loss because it was real money. Now if you’re a current college grad you need to go get your so called “money” back because you paid with junk money and didn’t learn anything. You also need to study Econ 101 in depth and you’ll see how our elected idiots have given us a long walk off a short pier and why all their stupid efforts to bring the economy up to speed are failing. It will continue to fail as they try one dumb thing after another expecting different results. I’m 68 years old,never graduated from college,and you’ll wonder one day how I got so smart. You owe Bob Livingston an apology for being so stupid because he is right on with his article here.

        • Walt

          Please help me understand the mechanics of returning back to the gold standard.

          As I understand the issue, back in 1971, Nixon took us off the gold standard because rance demanded gold in exchange for paper dollars.

          If we return back to the gold standard, what prevents France, China or our dear friend Hugo Chavez from showing up at our doorstep and demanding payment in gold (if there is any left in Fort Knoxx)in exchange of the mountain of fiat paper money the Fed has printed and in circulation around the world.

          What’s to prevent this from happening? Please enlighten me.

          • Richard Pawley

            If we were the world’s biggest lender of money (instead of the world greatest borrower of money) this couldn’t happen. However, you point out something that few have considered. When Eisenhower was president we had something like 789,000,000 ounces of gold in the treasury yet we insisted upon pretending it was worth only 35. an ounce, even though the world price was increasing. The world price reached over $40 an ounce (which meant that when the French sold us a Renault-8 or the Germans sold us a VW micro-bus or the Japanese sold us a Datsun, for $3500 (actually less) they would take $3500 in gold at our make believe price of $35 per ounce) and sell it for $4000 on the open market. If Nixon had not stopped this we would have no gold at all (and according to some we don’t have any – very few know who actually owns what we have stored). Hugo Chavez has already ordered what we had stored for him – shiploads sent to his country.
            I cannot tell you where this will all end, except to say that gold and silver are the canary in the mine. They have already gone up by more than a factor of five, and everything else is lagging behind. Both are likely to go higher but so will everything else. I believe food will go up by a higher percentage than gold and silver over the next few years. In January a 50 pound bag of powdered whole eggs cost $200, today it is $240 (a 20% increase), a package of chocolate macadamia nut cookies cost $2.49 from Wal-Mart. Today they are 2.99 (a 20% increase), my favorite imported Italian pizza (from Trader Joe’s cost $3.99, back in August it was $4.69 (a 17% increase), a 2 pound 14 ounce can of Planter’s Cashews with sea salt from Sam’s Club was 10.38 in January, last month it was 13.87 (a 33% increase)and ON AND ON. Also, there are crop failures around the world for various reasons, and wise people are doing what they can, large or small, to prepare.
            In both my books I called what is coming the Greater Depression and said that it would make the Great Depression look like a walk in the park. The more than a million Americans who have left the country since the Democrats took over congress in 2006 will eventually find they are not any better off because all are going to be affected by the economic crisis that is coming. When the dollar finally crumbles so will (eventually) all the other paper currencies.
            As for everyone wanting dollars, that is something from “pretend city”. Even pushcart venders in some foreign counties were rejecting dollars or at least asking for something else five years ago, and it has not gotten better in the last few years with the squandering of all the borrowed money the current administration can get it’s hands on. Dollars of course are useful in buying the things that we need (until ‘things’ require to many of them). If every department of government is required to reduce their spending by 10% then with American ingenuity I suspect they will figure out how to do the same job with less money and the Super Committee’s impasse may prove to be a good thing in the long run. We cannot pay off all the money we are spending by inflating it without ruining the economy and the country. May God help us all as no man or woman is going to solve all our problems, and even the Bible seems to predict an eventual one world government run by a banking dictator of some sort.

          • patrick H.T. paine

            ” To conquer, first DIVIDE! ”

            Don’t expect an answer to THAT question anytime soon, from anyone
            including Ron Paul……..but it is a simple mantra which claims to
            solve a PROBLEM without any intelligent explanation…..much the same
            way the Constitution is cited as a solution……with absolutely zero
            understanding of how we got where we are……which was quite “constitutionally”…….you volunteered, have no clue how, and
            if you did, won’t take the effort or imagined risk to “unvolunteer”.

            Ignorant soundbite mantra’s are way easier than the attempted intellectual effort required to actually understand the problem
            and produce a viable solution. BTW don’t forget to SHOP….Bob is still accepting fiat currency and there is a real good deal on a
            perpetual motion machine which should solve any problem you might have.

            “Do not ask for whom the bell tolls…………..”

          • JeffH

            patrick H.T. paine, “riddle me this, riddle me that”…your obvious arrogance belittles your attempt at intellect and quite frankly reminds me of another poster who much prefers to digress his presentations much the same way.

          • patrick H.T. paine

            ” To conquer, first DIVIDE! ”

            Wow, JeffH, what a marvelously brilliant cogent non sequitor. Typical
            in the Babel Land of Livinston SHOP…….willful ignorance is truly
            bliss here……remember vote early, vote often… won’t change the REALITY, but at least you will have four more years to complain.

            “Do not ask for whom the bells tolls………”

          • JC

            patrick, what Jeff is saying is perfectly valid. If you actually want to reach out to people with an intelligent idea you might want to lose the “everbody but me is stupid” approach.
            These are patriots your attacking.

          • JeffH

            patrick H.T. paine…How simple it is when one knows nothing.

          • patrick H.T. paine

            ” To conquer, first DIVIDE! ”

            How does one reach out to the “willfully ignorant”? You have all just responded to a repetitive litany which reduces itself to the following

            “The U.S. dollar does rally from time to time, but the long-term trend is down. We must understand this in order to protect our savings and investments.”

            If collapse occurs that goal is unachievable…..yet here in Livingston SHOP land, you can purchase all manner of things geared to
            this outcome…..including plans for Dec 21, 2012 which by the way,
            does NOT include a money back guarantee for when these events do not take place……

            After the War to end all wars, the united States controlled 80% of the
            world’s gold supply…….somehow this did not prevent what followed.
            ( The Bankers )

            It’s nice to know you are “patriots”, although like everything else here, what that means seems to lack any cohesive definition.

            You can not correct problems which are NOT understood…..and the problem is systemic……so catchy soundbites, and repetitive kvetching which simply ameliorates your lack of power by sharing it with others under the careful guidance of Livingston SHOP, would seem
            to benefit the shepherd here. “full of sound and fury, signifying” SHOP!!!!!! and such loyal sheep too……now who could possibly penetrate that mentality with anything intelligent….it would just be
            characterised as “another riddle”.

            “To conquer, first DIVIDE!”

          • JC

            patrick I understand very well all of the things you’ve referenced.
            Still your style of communication inspires me to just one thought…
            Bite me dipstick.

          • Navigator30

            Richard Pawley is correct about the fantasy of everyone wanting dollars. I was traveling on the Island of Crete with a military flight crew in the early 70s. We negotiated with the Greek waiter for a “per-head” price for the 15 or so that were at the table. Everyone paid with the multiple currencies in their possession by throwing it in a pile. The Greek waiter selected all of the German Marks from the pile and only then took the dollars and the pound sterling. Only a few weeks later the dollar crashed against the Deutchmark. That Waiter was more astute about relative values than all of the highly paid “financial experts”.

        • home boy

          your on the money with your comment eddie g

        • Joe H.

          Eddie G.
          I worry about the process by which our officials would return to the gold standard. I have quite a bit of silver and some gold. worry that they would do a confiscation like before and just give you either nothing or what they DEEM it is worth. a lot of people stand to lose quite a bit!

          • Joe H.

            BTW, please do not mistake my post to say I am against the gold standard, I believe it is the only way to financially save this country!!

      • Jeryl

        The dollar will not be the reserve currency much longer. China, Russia, Japan and France have plans to drop the dollar as their reserve currency. When that happens, others will drop it also. When that happens, our economy will completely tank as we have to default on our loans.

      • Economics

        To answer your question as to why the dollar is still the reserve currency, and why it is still in use at all – if anyone stopped using USD the American gov. would kill them. Want examples? Read up on Saddam Hussein and Moamar Ghaddafi. They were killed cause they stopped accepting dollars as payment for oil.

        • Joe H.

          OH, so we’re gonna kill the russians and the Chinese if they drop the dollar?? I DON’T THINK SO!

      • JC

        DavidL says:
        November 28, 2011 at 9:28 am
        Another psychotic rant by SC. If the dollar is useless, then explain why it is it the reserve, and preferred, currency of the entire world?

        I think you’ve had enough reason “why” explained to you.
        Now maybe you can tell us why we should think that the Dollar will remain the world’s reserve currency?
        India, Russia, China, South Africa and Brazil have already started making alternate arrangements with each other and no longer do they necessarily trade in US Dollars.
        So, should the worls stop treating the Dollar as it’s trading or reserve currency, what then genius?

      • Marty S.

        David. Reserve and preferred currency? O.K. and where did you bury your spaceship?Get a grip. The US currency is in serious trouble because of our own government that overspends it and prints it into oblivion.

    • patrick H.T. paine

      ” To conquer, first DIVIDE! ”

      “The end is nigh ( er )!” Interesting message from Mr. Bob SHOP! Livingston as the shoppong season kicks off… wonders if this
      doomsday scenario is realised, what “investments” will be protected?

      Mean while back in the REAL world, while you are being distracted by
      the upcoming and irrelevant “elections” the future will unfold in a necessary and predictable way……the imaginary wealth created by the bubble in all markets, will continue to be gradually destroyed,
      so this trend will continue until realistic value has returned, and the actual bottom is several years out.

      The unemployment problem will continue because it has two causes, the first one is the uncertainty created by the crisis…..but the second reason is more subtle, because productivity in terms of GDP has been
      relatively steady throughout the past decade…..while employment has
      decreased by 32%.

      This uncertainty will call into question the actual value of certain
      sectors of the economy, such as the health care system, now the leading cause of death in the united States, the educational system,
      which is a complete failure…..and since this downturn will force
      pragmatic adaptation, the means and structure under which we currently
      operate ( hierarchical, top down models ) will attempt to shift to
      other forms. This will of course be resisted by those entities who benefit from these conditions and government ( which also currently
      operates on this model ) will be the focal point of this resistance.

      Since this model can not survive, because it no longer serves the majority…….this change will happen.

      Meanwhile, there is another current which has surfaced…..( besides
      the delay of the destruction of the created bubble wealth ) and that is the opportunity to dispose of and/or marginalize the threat of the
      E.U. and the “euro” as a potential replacement as the world’s reserve
      currency…….. ( you may remember people writing about this THREAT
      prior to the current reality )…..clearly it is not one any longer.
      ( although how dangerous flirting with the risk of collapse is could prove a bit dicey. )

      One of the challenges we face……mostly YOU, will be the task of
      determining the proper questions to ask, and the ability to seperate the wheat from the chaff as it pertains to determining what constitutes actual information and FACT…..and what is simply self
      serving rhetoric……

      A quick example of this is the recent Solyndra failure. For me, the question which still remains unanswered is…….having secured the loan, why were the original investors allowed to withdraw their funds?
      Of course this question has another application regarding ANY taxpayers funds used for research of any kind, by anyone…..if things
      are then “private”, where is the benefit to the taxpayer? This could just be me though…….

      Finally, just when you think things couldn’t be any worse, you might
      want to check out “The Vultures Picnic ” by Greg Palast.

      ” Do not ask for whom the bell tolls………”

      • Eddie G.

        for Patrick H.T. Paine, I like your comment and as for Solyndra,that’s an easy one. The investors put up Federal Reserve funny money worth nothing and the money was “printed” returning it back. Essentially they got back nothing because their money was junk paper fiat to begin with. The taxpayers still get to pick up the tab even moreso. You can only get so much revenue by taxing people to death. Right now the printing of money to pay off the massive debt is outpacing incoming revenue. The people have only so much earning power and are now dead broke. The government is broke too so tries to print it’s way out of it. If the world were flat the USA would go over the edge and it’s coming if not stopped before the next year is out. Unfortunately the milquetoast stupids in congress will continue on with their communist POTUS and whoever gets elected to the W.H. will have a hell of a time tilting this country back on it’s axis. Junk the Fed and IRS then bring back the gold standard limiting the money supply of overprinted money,then enact the fair tax. Perfect or not,it’ll accomplish more than sinkling into oblivion.

        • patrick H.T. paine

          ” To conquer, first DIVIDE! ”

          Not quite the answer to my question, since Solyndra was a private company which probably got it’s money from the “not so Small Business
          Administration”……which means that those that formed this business
          had skin in the game, until they cashed out……that they were allowed to cash out needs to be looked at…… does most of what
          government does, and how it does it. ( actually SOLVING the PROBLEM,
          not the constant kvetching which is essentially useless.)

          There will be no collapse since no one benefits, nor will hyperinflation occur………so look for the above scenario to play out……and since these losses need to be written off, and this will involve those who have benefited temporarily…..the choice here is
          simple enough……..accept less, or lose it all.

          Both the concept of sound money and the austrian school are simplistic
          unevolved concepts…….a collapse would make this clear, the attempt to avoid this result will prompt the evolution required.

          “Do not ask for whom the bell tolls………”

      • Joe H.

        Patrick P,
        The euro as the worlds currency?? Real good, guy. Only problem is it’s about to CRASH!! More likely the Chinese yuan, if it isn’t the US dollar!

        • patrick H.T. paine

          ” To conquer, first DIVIDE! ”

          Reading is fun DUH mental……several times, if you have decided what something means and actually miss what is said.

          Both the E.U. and the euro were designed with the “idea” of replacing
          the dollar as the reserve currency, and as stated above, both the
          threat and/or the ambition, no longer exists. Whether the E.U. or the
          “euro” survives will be determined by whether it’s destruction can
          be achieved without excessive risk to the present situation.

          As for both China and India, while growth has been good, and largely due to excess population, aka cheap labor, only 1/3 of the population
          has seen any benefit………with the slowdown, that is shrinking.
          These internal problems both with population, as well as, other
          problems, does not support any scenario which makes them a threat
          to the current status quo.

          Infinite growth requires infinite resources. Since the latter has never been true the former can NOT be a solution…….unfortunately
          this SOLUTION ands it’s variants, in one form or another, is the only choice you are being offered, or possibly the only one you understand.

          “Do not ask for whom the bell tolls……….”

    • duaner

      Read Ron Paul’s book End the FED. It will open your eyes further and will shed some truth and light on this matter as no phd econ professor will ever be able to do.

    • Kenneth Lowndes

      I believe there ARE Solutions, just not desired by the criminals now in charge!
      So these Solutions are suppressed from gaining exposure to the people.
      Indeed, this would be a most dreadful world, if it were not possible to SOLVE these problems.
      I have found 2 Solutions that will truly benefit the people. In America, the people ARE the government, so getting the word out is our job.

      Here are 2 approaches to SOLUTION:
      htt:// — This one is about eliminating Interest from the ENTIRE Economy. This solves the economuc debt crisis in a literal 24 hours.

      However, because of man’s fallen nature, we need to REPLACE the USD, with a new kind of money, described here:

      This is the one method that makes “over-production” of money a thing NOT to do.

      Solving the economic debt crisis is EASY, once you know what is causing the problem, and what it takes to eliminate these things.
      All of this is preerable and doable, to AVERT and to bypass the collapse.

      But, a reletive FEW know anything about it at all.
      People need to be informed.

  • CP

    I won’t go into my personal opinion of a man who calls himself, in rather LARGE letters, patriot, then turns around and says we would be better off if we had never participated in a war. I suppose he would be just as happy speaking German or Japanese, which are the two major options left if we had refused to send our sons and daughters to war. As far as a gold based currency, that is as easily devalued as what we have now, as any money is only worth what someone else is willing to give you for it. In many cases, gold is worth more as ammunition for your sling than as something you can eat or use to keep warm. Be careful what you wish for, as you may well get it, and more/.

    • former walmart person

      World War 2 was the last “genuine war” in the sense that it was a war worth fighting in order to end evil that could have destroyed us. Every war since then has ultimately served the interests of the military industrial complex that President Esinhower (sp?) warned us about shortly after WW2. If we had never fought Vietnam, Desert Storm, etc., our country if anything would be more secure as at least we would be more financially solvent. We have enough nukes to wipe out the planet, so anyone attacking us would have to be 100% sucical, and the one good thing is that the scum bag politicans and rulers of various countries enjoy their lifes of pleasure too much to go full throttl into nuclear war.

      • Old Henry



        And don’t forget Truman’s Korea. We lost as many there in 36 months as we lost in Nam in ten years.

        You are correct. All those wars were fought to benefit the military industrial complex at the cost of our natioanal treasure and our $.

    • Old Henry

      Well CP we should indeed have gone to war with the Japs as they attacked us. The Germans did not attack us.

      The communist FDR had failed in nine years to get our economy up and running with all his failed communist policies so he had no choice but to use blood to get our economy up and running.

      One can only wonder how many millions of innocent European civilians FDR murdered. And then after liberating Europeans from facsism he turned much of them over to the mass murderer “uncle Joe” as FDR fondly referred to him.

      • s c

        Old Henry, Nobody needs a doctorate to understand the twisted mythology behind FDR’s ‘reputation.’ His list of infamies are long and documented. Perhaps the worst was the way he LIED America into WWII (via Pearl Harbor). He had a legally binding agreement that we shared with England and the Dutch to get us into war with Japan by setting them up to fire the first shot. This was a blatant, mindless violation of the Constitution, and would netted FDR the “attention” he deserved. Ever since FDR’s death, legions of sycophants united to protect FDR’s reputation at all costs.
        FDR prolonged WWII and his role in the Atlantic Charter forever changed the face of Europe to benefit Stalin and his mass murdering hordes. The more you learn about FDR and his unholy arrogance and need for power, the worse it gets. The ‘day of infamy’ was HIS.

        • Old Henry

          Good points all, s c. History has a way of “righting iteself”, doesn’t it?

          One thing, however. “This was a blatant, mindless violation of the Constitution” I would say it was mindful.

    • budman

      CP: As a military veteran having spent 21 years in the U.S. Army, I must say I agree with Bob to a point on war. Our war In Iraq and Afghanistan are two examples. It is not wise to send our troops to a place where we are hated and think we can establish some sort of Democracy. History should have proven this to our government and it was a bad decision and the most important, many lives were lost and many more maimed for life. These countries will continue to fight among themselves as they have for over a thousand years because of the ethnic division and desire to have total control.

      I am in total favor of war when the security of this nation is in imminent danger such as what would have been the case if we had not become involved in World War II.

    • Joe H.

      I must have missed it, but who are you talking about?

  • peter

    s c is rightly confused as many of us are. It is necessary to realize that the world is run by fraudsters and there we definitely have no friends. That they are money experts is of no importance since they are merely there to control the supply by courtesy of their masters. We are in serious trouble. The question is whether or not we are prepared to allow them to make us their slaves? Therein lies the question which we all need to answer truthfully to ourselves. I am slave to no man – he that wishes to enslave me had better I am dead or fear for his own existence. Fear not. Evil has a way of self destructing. Bet on it and Be blessed.

    • moonbeam

      Peter, “We are in serious trouble.” These were my exact words when Bush got in the first time. It has been a ride straight into hell in a hand basket with gasoline drawers on ever since. Now we have an illegal alien in the oval office and no one in congress bats an eye.

      • Old Henry


        Just curious, Al Gore, Mr. Global warming Fraud, would have been better?

        Remember, if good ole Al had won his OWN home state of TN then FL would have made no difference. Perhaps the good folks of TN knew something the rest did not. (I am no fan of GW BTW)

  • Paul

    All the way back in the months before the Kuwait War, a Lebanese friend pointed to a tiny story buried in the newspaper. It said that US arms sales were down. The friend said that base solely on this, he predicted war in the middle east. The arms business needed advertising, so the government would provide it. And it was so.

    A year after the war concluded a similar tiny article also buried in the paper announce that US arms sales had risen by some insane percentage in the wake of the war. Yes, the Kuwait war, which cost at least 100,000 Iraqi lives, was a big ad campaign. No wonder the middle east hates and distrusts us.

    • DavidL

      There are some elements of truth to this Paul. The US arms industry, the largest in the world, made, and is making, huge profits off the Iraq and Afghanistan wars. This industry has huge lobbying efforts which produce these “business opportunities” with great success. The lives lost, American and foreign, is chalked up to just the cost of doing business. Immoral.

      p.s. Bush senior made money for the US in the war in Kuwait by passing the hat to the nations who benefited from our liberation. Japan paid a huge amount of “thank you money.”

      • s c

        d, are Queen Nancy and her hubby still making easy money from wars that they supposedly hate? Did LBJ make lots of easy money via Vietnam because someone FORCED him to take that money? If you want to play that game, d, learn to take it or stop trying to dish it out, comrade.

  • AJ

    Who owns the Central Banks? Visit this link. It was very insightful.

    • FreedomFighter

      The Luciferians own the central banks, err Rothies.

      Laus Deo
      Semper Fi

  • Ralph

    This article failed to mention that Hitler did not cause hyper-inflation in Germany but rather rescued the nation from it. So the references to Germany as being an example of what is happening to this country today are true only for the Weimar Republic which was run by Jewish International Bankers under the gold standard, while National Socialist Germany produced D-Marks as a currency based upon how much work or the value of products the German worker produced. So the popular idea of blaming Hitler for bad economics seems to be the norm again, even when he proved how to succeed against it.

    • Alex Frazier

      Ralph, that is a misguided point of view.

      Hitler didn’t rescue Germany from its economic woes. He merely rose to power in the power vacuum created by those woes. He didn’t come to power until 1933, only ten years from the height of the hyperinflationary period of the Weimar Republic, and he had already started his war effort by 1939. Germany’s economy ultimately thrived on slave labor and international pillage. Ever heard of “Nazi Gold”? Just how much gold do you think a bankrupt country can amass in six years whose gold had already been seized through the Treaty of Versailles, which was the match that lit the bonfire of hyperinflation under the Weimar Republic?

      So don’t be a fool. Hitler brought his nation to “economic recovery” by means of pillage, slavery, and dictatorship. He robbed the people of their civil freedoms, committed genocide, and tried to conquer the world.

      • independant thinker

        the term “Nazi Gold” is generaly understood to mean that gold the Nazis confiscated from the conqured nations and that they took from those they killed in the concentration camps.

        • Alex Frazier

          That was precisely my point. Germany’s economy didn’t thrive because of Hitler’s economic policies. It thrived because industry was fueled by slave labor, and paid for with stolen gold from pillaged nations.

          • Ralph

            No, producing paper money regardless of how much production or the value of the products the workers produce is why we in in this spirling inflationary cycle we are currently in. The Fed just prints money like weimar did, try9ing to stay ahead of the bill man, while the value of paper money decreases for each dollar printed. Germany had no gold reserves after WWI and thus the National socialists had to come up with this idea of producing only enough D-Marks for the amount of the value of the work being done in Germany. You people forget that it took WWII before America came out of the Great Depression while Germany had full employment by 1938 long before WWII. Remember the subject of this Article was hyper inflation, not about the “evils” of Hitler, and hyper inflation was not a problem in Germany after Hitler took power. all this talk about Nazi gold is just bs … nobody except politicial prisoners were thrown into concentration camps until Britain and France declared war on Germany in Sept 1939, and Internation Jewry declared for the second time a war of genocide against all Germans. All this talk about confiscating gold from prisoners is just hogwash … most German Jews left the country prior to the outbreak of war and they took most of their wealth with them with the Havarre Agreement. The billions of reperations given to these people since the end of the war is absurd … in 2004 Israel put out a report that over 1 million holocaust survivors still were collecting checks … 59 years after the fact and that many survivors are still alive … do the math and tell me how many survivors there had to be in 1945 for that many to still be collecting checks 59 years later! You also failed to mention how the British empire stole billions from its overseas colonies … and you call yourselves informed citizens … hogwash!

          • Joe H.

            I don’t know where you get your info from, but there are MANY reports of even gold teeth being taken from the jewish prisoners, also how about all the priceless art that Germany had confiscated during the war? My uncle was at the liberation of one of the camps and he told a far different story than you! I tend to believe HIM as he was there and you? NOPE!

        • JC in CA

          Bingo Thinker.

          Just as Rome over 2k+ years ago. they pillaged and warred , enslaved and thieved…until they quit expanding and had to retreat….no gold influx, over spending on public bathes other works, less gold in their currency, public dependency, oh, and don’t forget the corrupt government officials…..downward spiral…

          hmmmm, it doesnt sound like anything we know of does it? the Money Masters at work…let the Beast be slain.

          Pray honestly and often. May God bless us all.

          JC in CA

    • s c

      Wow, r. How long have you been an apologist for Hitler? While I’m sure it was an accident, you did bring up the idea that National Socialism and Communism are “cousins.” When someone tries to ‘explain’ economics and talks about the value of work done via ‘workers,’ that is straight out of Lenin and Marx.
      Can I assume that you are also a major fan of the current W H socialist/communist/corporatist? Maybe you just need a good dictionary and some time in a good library. Wow.

  • Iris

    Be practical. Take the paper money out from under the mattress and buy silver coins (dimes are best) so you will be able to buy bread when you need it (soon). At any time in history, a silver dime will buy you a loaf of bread. As for the slobbering bloggers, good luck.

    • JC

      You’re right about that. Even today an ounce of silver will buy you a day’s labor in most of the world. Which has been the case for a thousand years.

  • John D. Beach

    The point that paper money is not wealth may be true. The fact remains that it is still “Legal Tender for all debts public and private.” As long as we place a value on it, it is the accepted means by which transactions are effectuated. Just remember, when you need something badly and you have gold coins to pay in exchange for it, it is going to be how much the object you want in exchange for the gold piece is needed by a seller which will determine whether he will accept the gold piece.
    If I have a garden and I need the produce from it more than I need something in exchange, no amount of gold pieces or paper money will suffice in payment and the lead in my rifle will guarantee that the transaction does not take place. If and when such a day arises, lead will be worth more than gold!

    • professor

      John, if this country finds itself in such a time as you describe..Gold will be worthless. People will need medicine, food, water, and ammo. Gold will not cure their ills, quench their thirst, nor will it feed their children. For most people, there will be no use for Gold.

      There is much to be said about the raping of our Nation and the stealing of our wealth. What people need to realize is that our paper money can be deemed worthless….over night!

      Imagine awaking one morning and finding yourself without the ability to purchase anything your family needs. If you find yourself penniless and vulnerable, over night, do you have a plan. Your family will have to face criminals that, within hours, will rob you of your food, gas, weapons, medicine, warm clothes..all those things that will become instantly valuable. It is a thought, my friends, and with this regime…a possibility.

  • Henry Ledbetter

    There have been those that warned us, but have we listened? Larry Burkett in WHATEVER HAPPENED TO THE AMERICAN DREAM tried to warn us but few were listening. Larry has passed on now but the book is still for sale on Amazon. We could try seeking The Lord while He may still be found but that would be to humbling and simplistic for most. .

  • Sirian

    All everyone needs to do is read “The Creature from Jekyll Island”. Once you’ve read that you will understand the fiat money umbrella we’ve been living under since 1913. Again, everyone needs get the history of it correct in your minds and then you will be able to easily understand and recognize what has been going on close to one hundred years.

    • Lastmanstanding

      and also realize that we have a chance to be free of these bastards if our mighty dollar comes crashing down…It happens when the corrupt decide to rule the rest. The corrupt has the playbook of history…but so do we…Let’s put this to rest for the last time.

      Start with Ron Paul…no more lesser of 2 evils…our kids and grandkids are depending on it.

      • Sirian

        LMS, I agree, Ron Paul has and does understand the Federal Reserve better than anyone else on Capital Hill. He’s been working to bring the Federal Reserve’s corruption out into the light for a very long time. Yet as to whether or not he could possibly eliminate it solely depends upon who fills the seats in both the House & Senate. Keep in mind what Jackson was up against over a hundred and fifty years ago. Needless to say it would be marvelous for everyone if the Fed was totally eliminated and we were to return to the gold standard. But they have so many “firewalls” set up and so many Congressmen co-opted that it would be near next to impossible. Not totally, but near next to. I’d give anything to see “U.S. Treasury Note” on the top of our money instead of “Federal Reserve Fiat Note”.

        • Lastmanstanding

          The First Bank of the US (during Jacksons term) was none other than the same FED, ECB, whatever you want to call them that we are dealing with today.

          ALL go to to read about “the greatest story never told.”

          • Sirian

            Amen, amen, amen. Isn’t it ridiculous how people won’t look, let alone read history to realize that it’s repeating itself?

      • moonbeam

        Lastmanstanding, “It happens when the corrupt decide to rule the rest.”

        You’ve just described what democracy aka “mob rule” is. Whenever I hear a politician state we are a democracy, He gets crossed off my list since he/she has no understanding about what our country is. The United States of America is a Republic. Think “…the Republic for which it stands…” when reciting the Pledge of Allegiance to the Flag of the United States of America.

        • Lastmanstanding

          and were going to keep it that way!!!

          The politicians seem to think that they are going to walk on this one…NO chance… Barney Frank is “retiring” and we will have to pay for that fat, communist pos until he’s dead…He and Dodd are totally responsible for fannie and freddie…I see prison in their future.

    • Terry

      Yes very good reading once you start reading it, you won;t be able to put it down!

  • Cadence

    Bob is interesting to read and has lots of good things to say, but I can never read far into his articles without feeling like I’m going over the looney edge. When I get to such junk thinking as “For many years now, the heartbeat of America has been imperialism. We have intimidated the world under the weak doctrine of antiterrorism.” I have to to reject the whole article.
    Really. “The heartbeat of America?” One thing our politicians are NOT guilty of is imperialism and intimidation of the world.

    • Lastmanstanding

      Cadence…please check out

      Our politicians have created the “looney edge.”

    • Alex Frazier

      Cadence, I appreciate what you’re saying, but it’s very naive.

    • Bob Livingston

      Dear Cadence,

      Sometimes the truth is hard to bear. However, our military currently occupies Afghanistan, Iraq, Pakistan, Libya (via NATO) and central Africa.We currently have troops stationed in Japan, Germany, South Korea, throughout the South Pacific and parts of Europe. We are about to have troops stationed permanently in Australia. We are dictating the leaders throughout the Middle East and Persia (with calls for regime change in Syria and Iran). There are currently approximately 900 U.S. military bases around the globe.

      That may not be imperialism and intimidation in your mind, but it certainly is in mine.

      Best wishes,

    • Old Henry

      I thought the “Heartbeat of America” was Chevrolet trucks..

      • JeffH


      • http://deleted Claire

        Old Henry–Good one. And Chevy is the heartbeat of America. At least it is to me.

      • JC

        I used to think so too Henry.
        Then they took the socialist bail out and the Gov. still owns about 60% of GM. My ass don’t roll on Government wheels! ;)

        I sold an 8 month old Chev Silverado when they took the dough and I’ve been driving Ford’s ever since.

        • Old Henry


          I too have driven only Ford trucks. Owned a new 1980 Citation and that is the only Chevrolet I have ever owned. Traded it on a new 1989 Cutlass. Both were pretty good cars, but I am a “Ford guy” at heart.

          I too would never buy a government made GM or Chrysler product. It will be Ford, Mercury or Toyota.

          • http://deleted Claire

            Well, I sure won’t buy a car that has a FOREIGN NAME on it. It is bad enough they have foreign parts, but this is what happens when government has too much control. America should have been taken care of first. Instead I think America was sold out. All these foreign countries became rich off Americans’ backs.

        • http://deleted Claire

          JC–My taxpaying dollars went towards the bailout–and I sure as hell don’t want to see them fail and my money go down the drain. I will continue to support GM, Chrysler, and Ford. So I guess my ass rides on government wheels, and my taxpaying dollars.

  • V. Trammell

    Hey, don’t lump ‘old people’ in with your version about paper money.
    I am 81 years young and would never think of doing that.
    Usually, I like to read your articles, and while you are right about
    the paper money, you are out of the ball park about ‘old people.

    • Old Henry

      Glad you’re here V. We finally have someone older than the rest of us! LOL!

      We can use your insight of years.

  • Al Hill

    As Bob Livingston says:
    “Modern propaganda is especially adept at twisting our language into thoughts and phrases that serve the State. Bad things are manipulated and twisted to sound good and good things become bad, with our warped vocabulary.”

    More succinctly, Ron Paul says:
    “Truth is treason in an empire of lies.”

  • James

    All paper money is doomed. What will replace it is a chip in our hands or foreheads, and without that no one will be able to buy or sell. It will be a universal currency.

  • speedle

    “The secret is that concocted war must arise on propaganda and deceit”

    Bob, help me out here. How would the above statement apply to 9/11? Do you truly believe that this was a conspiracy?

    Once again, I can jump on board with some of your theories on financial and economic issues, but then the wheels come off with this conspiracy stuff. While it is true that wars have been “encouraged” for superfluous reasons (LBJ and Viet Nam, which even he came to regret), we have a different dynamic in this century which involves nut bag religious fanatics playing with matches. It’s just not the same thing as a “Battleship Maine” scenario where politicians were seeking an excuse for grabbing some assets. Man, you simply have to make some distinctions here.

    • Bob Livingston

      Dear speedle,

      You ask: “How would the above statement apply to 9/11? Do you truly believe that this was a conspiracy?” Yes.

      Best wishes,

      • Old Henry


        Did DaveH drop off the list? I have not seen him post here for almost two weeks.

        • Bob Livingston

          Dear Old Henry,

          I cannot account for DaveH’s absence. He has not posted since 11/21. Vacation, perhaps?

          Best wishes,

        • JeffH

          OH, I’ve noticed his absence also. Sometimes we get tired or repeating ourselves and the same-o, same-o deal and need to take some time off just because. I also miss seeing Danaz & Kate8, but I think I understand the time lapse in their participation. It’s good for the soul and the mind to get away once in a while.

          • Kate8
          • JeffH

            Kate8, boy…haven’t we had this conversation once or a hundred times. Of course it’s just another “right wing” conspiracy theory(NOT). I miss ya but I also understand your limited presence here. I saw on Ben’s last video(Hugo & Barack)how the usual troll took his usual beating…even I get weary from constantly beating that mindless fish…but it’s nice to know that most everyone else gives him what he deserves and wants(attention-albeit negative)besides myself…a negative attention disorder for sure. :)

          • Old Henry

            Yeah, Jeff you’re right, but I do not remember DaveH being AWOL since I have been here. Just a little unusual is all. I know he has mentioned some health issues in the past. I just hope he is doing okay.

            I too have missed Dan az. Denniso, however….

        • moonbeam

          I’ve noticed that too, Old Henry. DaveH, where are you???

          • Old Henry


            Are you old enough to remember Tooty and Muldoon? Car 54….

      • speedle

        Then I’m outta here. I don’t want to get any of that on me.

        • Bob Livingston

          Dear speedle,

          That is certainly your prerogative.

          Best wishes,

    • moonbeam

      Wake up speedle. Time to make that popping sound. Good Grief! Have you been paying attention at all to what is going on around you? How goes it in the land of Tinkerbells?

      • speedle

        Well Moonbeam, it seems to me you guys are the ones in never never land with Tinkerbell, Peter Pan and the gang. As soon as you start your harangue about the 9/11 attacks being a conspiracy by George Bush, The CIA, Peewee Herman or someone, everything else you say goes into the toilet (no matter how right it is).

        If you don’t believe it check with Debra Medina who was doing very well running for the Texas Governorship until she popped off about having doubts about what “really” happened on 9/11. The Tea Party people (who were supporting her) threw her to the curb in about 3 seconds. If you want to be a fringe group like a barking dog in the distance you are doing the right thing. Personally, I want to help in getting this country turned around by addressing serious issues, not wasting my time with fantasy crap like ghosts, UFOs and conspiracy theories.

    • James

      Speedle, Anyone who has seen World Trade Center Buildings 1, 2, 6 & 7 blowup or collapse must eventually admit that these buildings were brought down by demolition charges. It took me several years to accept that. If those buildings were demolished by placed charges, then the people who did that had to know what buildings were targeted, and when the attack would occur. That’s not an easy thing to accept. For planes were hijacked and four buldings were destroyed or damaged, and for most people that was the whole story. But when I learned that building 7 wasn’t hit by a plane, and collapsed in just under 7 seconds, straight down, that raised my eyebrows.

  • MontieR

    We are already well into our OWN Wiemar republic on STEROIDS. Germany had help to rebuild after the war. When the WORLD economy collapses there will be no one left to help rebuild, and EVERYONE will agree
    that there NEEDS to be a CENTRAL government to FIX things. And everyone today just says make more laws let the government take care of the problem. NEWS FLASH our government got us HERE by trying to fix the problems, because WE were to LAZY to fix them ourselves.

    • Old Henry

      At the risk of sounding a little 60s-ish

      Right on Montie.

  • Dingle

    There is one situation that doesn’t make sense. Why would a solvent country want to accept our dollars for investment?

    While in the U.S. Air Force in a foreign country, we were not allowed to spend our dollars in their economy. We had to convert it to their currency on the base and spend that because our dollars were worth more at the time and they wanted them.

    • Lastmanstanding

      Because they make the rules to their advantage not ours.

      My opinion regarding the conversion while you were in the AF was that the banks wanted 1st dibs on your dollars. Dollars buy everything and the only thing that can buy OIL. Once dollars are out in the economies they are not as easy to control or acquire because YOU the holder, makes the decision of what to do with it…

      You know how the banker does not like to be kept waiting.

  • Stephan F.

    Bob’s hit the nail squarely on the head again. And if you agree then I highly recommend this course of action: find out if those three sleaze-ball representatives of yours in Wash D.C. are supporting Ron & Rand Paul’s audit the Fed bills. If they haven’t, call (and email) their D.C. offices and “demand” they sign on as cosponsors and actively support these measures, S.202 (Senate), H.R.459 (House), both entitled “The Federal Reserve Act of 2011″

    This will probably be the only chance you’ll have to help change the direction this pathetic country is taking and possibly make a real difference. Do it now!

    • Old Henry


      Will do. I sent myself an email to do so. Thanks for the riminder.

      • Stephan F.

        My dumb congressman here in Oregon, G. Walden finally signed on after many months of ragging him. The two socialist senators we have still haven’t budged, yet — I’m working on ‘em.

  • Alex Frazier

    Folks, I wanted to take a moment and address an issue that I see in this thread.

    Bob says, and rightly so, that paper money is not wealth. But that’s only half of the issue. The broader truth is that money is not wealth. Money has no value at all. Money’s value, if you want to call it that, is relative to its supply and the supply of the goods or services it represents.

    True wealth is labor. When you buy a plank of timber, what you are buying is the labor it took to fell the tree, to build the saw mill, to mine the iron for the blade, to fashion the iron into a blade, to cut the tree into planks, to transport it, etc. All exchange is an exchange of labor. And the product of that labor is wealth. Wealth consists of tangible goods for use in consumption or repose.

    Money, as I’ve written before, is just a medium of exchange. As per a previously written analogy, if you have a nation of three men, a producer of oranges, apples, and pears, you have the means for exchange. The apple farmer can trade apples for pears. The pear farmer can trade pears for oranges. And the orange farmer can trade oranges for apples. This is barter.

    When the situation arises that the apple farmer wants oranges, but the orange farmer doesn’t want apples, then it is necessary in this nation of three for the apple farmer to provide a way for the orange farmer to get a pear for his orange. This can be done in a few ways. The apple farmer can trade an apple for a pear, then trade the pear for the orange. The orange farmer can take the apple in trade, and then trade the apple for a pear himself. Or the three men can agree that an item of equally limited supply to their produce can stand as a proxy for their produce. In which case, the apple farmer can trade this token, which we call money, for the orange. Then the orange farmer can trade the money for a pear, since all three have agreed to attach the value of one item of produce to the piece of money.

    That’s how money works. Its sole purpose is to facilitate complicated barter. It is a means to exchange products. That’s it.

    Having more money doesn’t make you more wealthy. It is a fiction to believe that having more gives you more. If the amount of money is appropriately relative to the amount of product, the money can only circulate. A man who hoards it can only barter, which makes the money useless, or he can spend it, and it goes into the hands of the next producer to exchange for a good or service.

    If you suddenly have an increase in money without a corresponding increase in productivity, the existing products just take more money to exchange. That’s inflation. If, for example, there were one piece of money and three pieces of produce, the apple farmer could trade money for an orange. But that leaves him without the means to trade money for a pear. If the apple farmer suddenly had two pieces of money so that he could effectively trade money for both the orange and the pear, all the produce would be in the hands of one man, and the other two would starve. In making the produce so dear, the value would go up, and they would each require that their product cost two pieces of money, and the situation would correct itself.

    In actual point of fact, the reason inflation exists is that the value of money is relative to the value of actual products and services. Increasing the money supply just makes products cost more. Except that the value of the products never went up. It is an over-increase in the supply of money that makes the supply of products more dear, which results in the increase in price.

    So money is nothing. It is not wealth. It is just a medium of exchange. If all money disappeared tomorrow, the world would be fine. It’s a proven fact that when economies go completely belly up, black markets immediately emerge. In other words, the natural law of the free market returns to barter when money becomes worthless, because the real wealth is the product, not the tokens we use to exchange for it.

    This misconception that money is wealth is also the primary reason for war, poverty, tariffs, oppression, and a number of other wicked things. It all stems from the idea that money is wealth, and that wealth has to be protected, else the nation will collapse. We use tariffs to keep our “wealth” from leaving the country. We use war to increase our “wealth” by pillaging other nations. We pay farmers not to grow crops so that through dearness, the “value” of our money will be preserved.

    But that’s a whole other argument.

    What one person on this thread has said is accurate. You can’t eat money. Money won’t keep you warm. The only thing you can do with money is trade it for things that you CAN eat, and that WILL keep you warm. But in the end, you can grow your own food and chop your own wood, because your own labor is the true wealth you possess.

    • Eddie G.

      Son of a gun Alex Frazier,your apples,oranges,pears,analogy is a pretty good way to put it. Money is a medium of exchange. The basis of Econ 101 is land,capital,and entrepreneurship. Capital is the exchange of money to acquire the other two. The real wealth exists in the land and the business,not just the capital by itself. When the government through excessive taxation and regulations hoards the capital nothing remains for the other two to thrive so they fail. The entrepreneur lays off the workers,the land is lost to foreclosure by a lender,and the government now uses the acquired taxed capital to squander on non productive junk programs,leaving lenders holding unsold property and workers unemployed. The capital needs to be exchanged to provide for a thriving economy,it cannot when it ends up in government coffers and remains uncirculated in the private sector.

      • Alex Frazier

        Eddie, yes, that’s essentially correct. I would make a few modifications, though (with no intention of impuning what you’ve said, which is accurate but not as fleshed out as it could be).

        Capital, in money form, is in its basest form a quantity of entitled goods or services, acquired through productivity or the loan of someone else’s productivity, to be used in exchange for different goods or services as allowed by the productive value of the money proxy.

        You could, for example, collect a few apples from each of your apple harvests, and eventually use the seeds as capital to purchase orange seeds to expand your own productivity by expanding into other avenues of industry. OR, you could borrow seeds from the orange farmer to expand your own industry, with the promise of repayment, both of the original quantity of orange seeds, plus interest to remunerate the orange farmer for his LOSS of productivity while his seeds were being profited from by you.

        Either way, you’re right. You acquire further means of productivity through the investment of your own productivity or the lent capital of someone else’s productivity. Without the capital, whether it be money as a proxy for goods or services, or goods and services themselves, you will not acquire the expansion of land or industry without pillage or plunder (because the law can always be used to force the orange farmer to “contribute” his “fair share” for the common good, that the apple farmer might “break up the orange monopoly” and acquire orange seeds through force by law).

        In terms of government taxation and malinvestment, what you actually have is the government taking apples that were meant for seeding, giving the flesh to the pear farmer, and throwing the core in the fire. The seeds never circulate, because the government isn’t interested in the expansion of the apple farmer’s industry. It’s interested in providing unearned produce for the pear farmer when the pear farmer’s attempt to expand his own industry was done on fallow ground and produced nothing due to poor planning.

        But always keep in mind that uncirculated capital is not necessarily a drain on economy. True investment begins with savings. Capital has to be accumulated before it can be invested. To say that hoarding money is bad is like saying that the apple farmer needs to plant the seeds of every core as he receives them, because if he waits until he has enough seeds to plant a proper orchard, it would be harmful to the economy. That’s simply not true. Although it IS true that if he hoarded the seeds and refused to ever plant the orchard, this would eventually stifle the economy. Apples would become more dear as the pear and orange industries flourished, resulting in a higher “value” for the apple. That’s the theory of wealth by scarcity, and is why the government pays farmers to not grow crops.

        In general, though, I agree with your assessment.

        • JC

          So, it would be fair to say that since money is merely a medium of exchange, we could use anything we wanted to use in lieu of paper tickets couldn’t we? Labor, goods…anything. ;)

    • dixiesuzan

      Very good. Money is worthless if your all alone. Robinson Crusoe off loading from his wrecked ship onto a desert island takes the tools and other items useful for solitary necessities of existance. He does not go to the captains cabin and offload a treasure chest full of gold coins. It is worthless.
      Money in a famine fails. Genesis Chapter 47, verse 15 – “So when the money failed in the land of Egypt and in the land of Canaan” In a famine you trade goods to eat and live. Value is subjective.
      The past is gone. Whatever goods cost in the past is gone forever. Value is what use the goods have in the future. What matters is what actual benefits and services do the goods bring in the future.
      The symbol of legal justice and Biblical God given justice is balance scales. Balance scales can be tested, and balance scales were the means to test gold and silver coins for debasement. The balance scales are linked to Godly judgement. When the evil Babylonian king Belshazzar was at his great feast, the hand of God wrote famous words on the wall, among which was TEKEL. Daniel interpreted the wall words for the king (Daniel 5:25-27), TEKEL – “You have been weighed in the balances, and found wanting.” Tampering with the balance scales of money by inflation yields the same results. It is false weights and measure and planned theft by civil government.
      Gold and silver coins of consistant honest coinage were often used as known weights on balance scales. To tamper with them is an infringement on Godly commands and provokes Godly judgement. The English once issued a silver coin called the Starling because it was stamped with a Star on it. It 240 Starlings weighed exactly one pound. This was true for centuries. This coin became the European standard of honest coinage. The word Starling was corrupted into the word Sterling and hence the still used term Pound Sterling. Melting the coins down made Sterling silver. English money and coinage became 12 pence to the Shilling, 20 shillings to the pound, or 240 Starlings being one pound. Debase it to false inflated paper money and one ends up plugging rat holes with it in the grain bin. The grain is worth more than debased fancy printed paper.
      Under powers of Congress US Constitution; Article I, Section 8 – “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”

      “To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;”

      Coin does not mean print. One regulates the value by regulating the quantity. This is intimately linked to Standard weights and measures which was seen as linked to the scales of justice. Hence the next item is to fix punishment for false weights and measure i.e. counterfeiting coin. To overprint paper drafts on known qualtities of gold and silver in a vault is theft. To steal the gold and silver and continue to print drafts on nothing is wholesale fraud.

  • Randy G

    Would that be true with the older gold & silver certificates?

    • Bob Livingston

      Dear Randy G,

      I’m not sure I understand what you are asking. The old gold and silver certificates that were once issued are no longer redeemable for gold or silver due to acts of Congress.

      Best wishes,

  • Joe

    This is something I try to get through my mother’s head almost every day. She still clings to the old values of saving money for the future. I try to explain to her that with inflation, it is better to buy things with your money that you can resell later if you have to. Holding onto cash makes you a loser because the money is never worth as much later when you actually need it than it is worth right now. Saving money doesn’t move you ahead, it puts you behind. Putting your money into things that will rise in value while money is falling is what moves you ahead. That is why the wealthy collect jewelery, antiques, coins, works of art, and other things that go up in value. They never get hit with inflation because they are not heavily invested in cash.

  • Vigilant

    Mr. Livingston, with all due respect, why would you say the following, knowing it to be untrue?

    “Did you hear your politicians warning the American people? The exceptions are Ron Paul and Texas Governor Rick Perry, though I’m not sure he understood what he was saying.”

    Please check

    Additionally, please refer to an excerpt from Newt Gingrich’s speech in June to the Atlanta Press Club:

    “For example, the Fed might increase the money supply substantially in the belief that such monetary expansion will spark economic growth,” Gingrich said. “But a Fed that floods the economy with new dollars in an attempt to stimulate economic growth and new jobs is a Fed that decreases the value of every dollar in every American’s pocket through higher inflation, making every American poorer.

    “Look at what has already happened,” Gingrich continued. “Today, we have a dollar that is stunningly weaker than it used to be, and the price of everything from gasoline to groceries is steadily drifting upward.”

    The question is, why do you rail against a media that freezes out Ron Paul, and then commit the same sin by ignoring the Republican frontrunner. What gives?

    • Bob Livingston

      Dear Vigilant,

      Glad to see you’ve returned. To answer your question: You are correct in that I could have included Gingrich. However, I believe that Gingrich was clearly saying these things in an effort to steal away some of Paul’s voters and was not sincere. It was a one-time bit of political rhetoric from a globalist, member of the CFR and attendee of Bohemian Grove. Any railing he does against a central bank is deception and double-speak. He is a liar of the first class, a RINO, a corporatist, a warmongering neocon, an amnesty supporter and one who has been quoted as saying he believes America’s challenge in leading the world is the U.S. Constitution and he supports the U.N. He is an advocate of and has worked toward a North American Union. In short, a Gingrich presidency would be far worse than an Obama presidency, because ignorant “mainstream” Republicans would fall in lockstep with his actions as they did George W. Bush’s because they have been propagandized to believe Republican=good and Democrat=bad in all instances.

      Best wishes,

      • Alex Frazier

        Couldn’t have said it better myself.

      • JeffH

        Thank You Bob!

      • bob wire

        “I believe that Gingrich was clearly saying these things in an effort to steal away some of Paul’s voters and was not sincere.”

        Evidently “some people”, after all these years still don’t know or understand Newt Gingrich. Newt is not a trust worthy man, not with your money, your woman, your family much less your government and really should be locked up somewhere until he sees the error of his ways.

        • Joe H.

          bob wire
          As proven by his own actions, he is not trustworthy with his OWN wife!!

          • http://deleted Claire

            bob wire and JoeH–I agree with you both.

  • Joe

    Oh, one point not touched on is that no currency is safe or stable. I know people who are flying into the Canadian and Australian dollars for the reason mentioned, because they are commodity based economies, but when the US devalues what do you think the other countries do? They are FORCED to devalue their own currencies or their exports suffer. It becomes a race to the bottom with nobody wanting to be the country with the strongest currency relative to the others because then they end up the biggest loser when they are unable to export to the rest of the world because nobody can afford to buy their goods.

    • dixiesuzan

      Own the tools of labor. The man with a machine shop and the ability to use it well will survive. He can trade labor and repair of metal items for other goods. It becomes a barter economy.
      In WW2 prison camps and other places historically cigarettes become the money. Cigarettes are fragile but desired by others and if needs be you can smoke your “wealth” if its getting stale.
      In the Great Depression 3 things in goods were always tradable for other goods. (1) Good Canadian Whiskey; (2) 22 long rifle bullets; (3) cigarettes. Cigarette smoking increases when people are under stress. A lot of people will take it up in hard times. The way folks survived was to own a large lot of cigarette paper, a cigarette rolling machine and cigarette tobacco in sealed cans. The tobacco didn’t go stale in a sealed can and lasted for years. Roll out some cigarettes and trade for desired goods.
      22 long rifle bullets can be used to shoot a rabbit or other small game. They are durable and last and small enough to be tradable. People desired them and thus they were “money”.
      Good Canadian whiskey is wanted by the richer aclcoholics during hard times. They have lost most of what they had. They do not know how to regulate themselves well financially. They will spend their last resources to get drunk just like the “good old days”. Whiskey has for centuries been used as money. Remember the Whiskey Rebellion just after George Washington became president. It is the Federal Stamp you need on it to keep it from being confiscated. Good Canadian whiskey in smaller labelled bottles (more readily tradable) became a Great Depression era “money” item.
      One other item appeared during WW2. Chewing gum. Under stress people will want it to relaxe and relieve tension. Look at WW2 pictures of sidewalks in front of movie theaters. Covered with black blobs. That is flattened chewing gum cast off on the sidewalks.

      • Joe H.

        After smoking for 38 years, I quit about 10 years ago. I will NEVER pick up another cigarette as long as I live!! I broke their hold on me and they will be able to sink their claws in me again!!!

  • bob wire

    I would not attempt to argue that the dollar has not held it value very well, but what currency has?

    Gold, silver, gems, real estate, firearms, are subject to perceived value as well.

    Even Wealth it’s self is perception, you only need enough people to agree on anything holding some intrinsic “value” and have some abundance in your control to be perceived as wealthy.

    The more difficult currency is to come by, increases it’s value, while the currency itself could be worthless. Gold is occasionally used in some electronic but mostly in the making of trinkets to adorn the human body and identify status. To horde and fondle bring pleasure and comfort.

    Gold is a benchmark standard in the perception of wealth today.

    But if the world we knew today was reduced to rubble and ruin with only 10 thousand souls to forage and existence, do you think gold would hold this same value and importance as today?

    I don’t think so.

    There will come a day in the far off future, “gold” will be traded for “water”

    Do you know what man has make huge investments in “water” today for tomorrows needs?
    T Bone Pickens.

  • ROGER, Canadian Libertarian

    For my American friends who dare to have a REAL REVOLUTION, here is the PROBLEM and the SOLUTION, already explored/revealed/proposed by an American, Lisa Guliani:

  • Munk

    I love reading these comments, one thing Eddie G, any modern economy must have the following factors: 1) Land; 2) Natural Resources, 3) Labor; 4) Entrepreneurship; and 5) A Mode of Exchange. Long ago, some wise? corrupt? men decided that the Mode of Exchange would paper money, and the premier paper money ended up being the US Dollar.

    Paper money has now become the dominant factor in our economy. Witness: you can now make money by manipulating and holding paper money, while ignoring all the other factors. Are the holdings and gains of paper money wealth? The author says no, He is correct.

  • .Roebin

    I run a golf course, but i don’t delude myself that i can rely on anyone wanting to play to play when the cards finally come tumbling down – so my principle concern is to install photovoltaic generation so that water can be pumped automatically, ‘cos there sure as hell won’t be any diesel to run the pumps, or electricity in the grid. We currently pump with 40 hp pumps, but if we can get three kilowatts of sunlight power, it will give us a half inch of water,all day, day in and day out – and what does that mean..? Vegetables, potatoes, chickens, sheep – a cow or two = you got it, SURVIVAL. My wife and kids are all in denial – the “Normalcy Bias” – so it ain’t happening -yet – but I’m working on it – have all the tech off the internet for home construction kits, but more work to be done with the kids yet!!

    • JC

      Keep doing what you’re doing.
      Lots of folks I know are suffering from Normalcy Bias as well.
      Every now and then though, one of them will suddenly ask what should “they be doing”?
      We all wake up at different times and for different reasons.

  • .Roebin

    Sorry, that should of course read “pay to play” -
    Oh yes, and naturally, have my lead..!

  • .Roebin

    Ralph, posting at about 9′clock has ignored the annihilation with the order (at Versailles), that, if my memory serves me, 30,000. tons of gold – and this wasn’t Nazi gold – had to be paid in reparations after WW1. Hard to argue that the immediate crash of the Weimar’s ecconomy was unconnected with the plundering of the gold… a direct result being the Third Riech – a big price to pay..!

    • JC

      Ever wonder where all that gold ends up?
      I highly doubt it’s in Fort Knox.
      And whatever became of the billions in solid gold moved from under the WTC on the evening of Sept 10 2001? Just “disappeared”…
      I’ll bet the Rothschilds know where it is.;)

  • http://explorer Scout

    great to see Kate8 back. I always enjoy and agree with her view.

  • http://Google Fritz

    Those who loved our involvement in WW-2 may be forgetting something. The 6:00 AM air patrol was called off on Dec. 7 — the Japs attacked at 7:00 AM!

  • http://deleted Claire

    I know I am “old” but I don’t “fondle” my money. I am too busy trying to hang on to it, regardless of what it is worth. A person still has to have it.

  • Tim

    I lived through the Zimbabwe meltdown. The Govermnments obligations > resources. Exacerbated by the land acquisitions, but the problem was that it had borrowed itself into oblivion. I have a $10tn note, laminated as a book mark.

    What America is facing is trillions in debt, and probably 100tn in unsecured obligations. Many of the trillions of debt were recently electronically printed. The U$D relies on being the world’s reserve currency and that has hurt many countries in recent history. Obama’s spending spree has hurt many countries with bonds in USA.

    USA has to severely curb their liabilities because the world is watching. Many countries with $ in USA are looking to cut their losses and know that pulling it out now could worsen things. However they are not putting in much which is also not good.

    So we have a migration of wealth slowly away from the $ into a basket of other currencies. Value being stored in a myriad of other ways but U$D.

    What can replace the U$D? too little gold and silver, but they are shopping around. Unless USA fixes it’s problems they will have other markets,, probably backed by USA wealth that has migrated.

  • Tim

    I am involved in structuring deals, doing analysis, forcasts and risks. The issue of using $ as foundation is, to put it politely, very interesting and a challenge.

    Similar clouds of what has gone before is on our new horizon.

  • Syrin

    “I suppose we could say paper money plus blood is the foundation of the Keynesian welfare state.”


  • Meg

    I understand about the paper money, but does that also mean that coins will be no good too.

    • Bob Livingston

      Dear Meg,

      When the currency collapses the coins will have only the value of metal they contain. That is why I recommend you purchase “junk silver” coins: pre-1965 dimes, quarters, halves and dollars. They will retain the value of their silver content.

      Modern coins are made of metals of little value.

      Best wishes,

  • chiller

    There was a time when the world idolized the US and everything they did. Those days of honesty and example have long passed with the introduction of the criminal empire which has crippled world finances. I, as an American, would like to apologize for our guberments folly’s and ask for forgiveness, for they know not what they do.

    • JC

      chiller…they know “exactly” what they do…

  • Tim

    The Keynsian model is very effective at growing an economy, keeping govt in the business of social and regulation whilst the capitalist side can get on with what they are supposed to be doing,, making money. What we have seen is a bastardisation where govt has loaded the private sector with social costs and burdens (hidden taxes) whilst siphoning off the surplus to pay for bums in seats jobs for bureaucrats. When the crunch came there was no way in heck that keynsian methods would work as the interest rates were chronically low (couldn’t be lowered further), liquidity chronically high and the borrowing needed to stimulate already maxed out. Socialy spent out, not only living on borrowed $ but borrowed time.

    The property market had been distorted by CRA and low rates. That main too was toast.

    What has the USA got to offer by way of making good on their $? Not much more than the Zimbabwe Dollar that is now extinct.

  • Tom

    Would owning stocks with dividends paid with U.S.currency(my IRA) instead of fixed income be of any hedge against our currency being devalued,or is there no safe place other than putting your money in commodities or should I just plan on being broke in my senior years?
    Any and all help is appreciated.


    TOM, Productive FarmLand holdings without mortgages might be an option too, so that you might be able to grow your own food and or lease most of the land for food production and be protected against any inflation, but not deflation..




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