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Treasuries, Steinbrenner, Pelosi And Ceding Arizona

July 30, 2010 by  

*What “flight to safety?” Investors around the globe snatched up every single note the United States Treasury offered in its last auction—at record low interest rates. Thirty-eight billion dollars in two-year notes were auctioned at a yield of 0.665 percent. That’s less than 70 cents for every $100 you loan ‘em, folks. And that’s for an entire year. When inflation is taken into account, those nervous Nellies are earning a negative 0.57 percent a year. Plus, they’re guaranteed that the dollars they do receive in two years will be worth less than they are today. That’s safety?

*George Steinbrenner saves his family a bundle. One of baseball’s most colorful characters passed away two weeks ago. You’ve heard a lot of stories about Yankee owner George Steinbrenner. But did you know that by dying this year—and not in 2009 or 2011—George saved his family about $335 million in death taxes? I suspect he’d enjoy a good chuckle over that.

*Nancy Pelosi gives aid and comfort to our enemies. Pity Colombia. It’s trying to do everything right—fighting its communist terrorists, the FARC, to a standstill; promoting freedom and free enterprise at home; and working hard to be a friend to the United States. So why does the Speaker of the House block approval of a Colombia-U.S. free trade agreement? And even more despicable, why does she welcome FARC’s most notorious ally in Colombia’s Senate to her congressional chambers? My guess is it’s because Madame Speaker likes our enemies better than our friends. What’s yours?

*Obama cedes a chunk of Arizona. This is amazing. While President Obama claims that only the Federal government can be allowed to “solve” the immigration crisis in Arizona, his government has ceded control of more than 3,500 acres of the state to drug smugglers and other criminals. In fact, the U.S. Fish and Wildlife Service has posted signs reading, “Danger—Public Warning. Travel Not Recommended” at the entrances to the Buenos Aires National Wildlife Refuge. “Good air” indeed; what we’re getting instead is a lot of bad baloney.

—Chip Wood

Chip Wood

is the geopolitical editor of He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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  • Ian Cheeseman

    In your comment on don’t believe the liberal lies you suggest that the 1st Amendment is only binding on Congress, and not on the states. Would it be acceptable for a state then, to order everyone in the state to become a Moslem, or a Roman Catholic, or some other religion or some other denomination, or be subject to fines and imprisonment? It seems to me that the intent of the founders was that the situation in many European states regarding those kinds of abuses should not be allowed in this new country or it would be no better than Europe.

  • rodman820


    Why is it that conservatives are so helplessly addicted to lies? Seriously, this may sound like hyperbole, but I cannot remember when I have seen a widely circulated conservative talking point that wasn’t, at it’s root, based on an outright lie or a deliberate misrepresentation of the facts.

    Case in point – your hit and run ‘chip shot’ about the Buenos Aires National Wildlife Refuge. The 3500 acres was, in fact, closed due to security concerns (AND for construction of the border fence, which is left out). So far only a 1/2 lie – not bad.

    Here’s the juice – the area was closed and the signs posted IN OCTOBER OF 2006! Now HOW did the Obama administration cede land before he even announced his candidacy for President?

    It takes about 17 1/2 seconds of dilligent research to uncover this fact but don’t feel bad for fallng for it; millions of others were gleefully deceived by that particular piece of journalistic excrement. I haven’t found where the 3 1/2 year old event was originally resurrected and extemporaneously miscast to attack Obama. The FOX news story of June 15 was an early player and the countless replications of it’s content, with even more selective editing employed to additionally skew reality, have gone viral. The Genie’s out of the bottle, so to speak.

    The only remaining question is what do YOU do about it. Does the truth matter? Should we limit our potential political gains by confining our arguments and accusaions to facts? Maybe you post a feeble retraction, maybe you simply, quietly remove the piece.

    My suggestion; Think of what you might do if that little bit of mythology had originated within and been propogated by the left, in accusation of a Conservative President. I’d wager that it would merit a multi-page expose filled with detailed dissection of the lie and the obligatory generalizations about how such mendacity is typical of the left, something in the tone of your hit-piece on Pelosi.

    As a Christian, wouldn’t you be obligated to treat others as you would be treated? So I look forward to a full, detailed report on the Buenos Aires Myth, it’s origins, propogation and how both generally indict the morality of the Right, which has engaged in and benifited so much from the distribution of this farce.

    It seems to me that you must either prepare and post an excoriation of FOX, numerous blogs and yourself for participating in this hoax. That or admit that your ethics, morality and outrage are strictly one-sided, and like your principles, are selectively applied, as needed to attack your enemies and defend your friends.

    This story along with a handful of other myths and conflations have generated the impression that the current administration is sitting on it’s hands with regard to immigration, with obvious electoral benefits anticipated. Are those benefits worth it? To become the party of lies and liars?

    The myths of inaction gain traction through repitition, despite the fact that a great deal is being done; newly implemented ‘payroll raids’ are capturing more illegally employed workers than were caught in physical raids, that IEC funding is up 30%, Border patrol numbers are up similarly with total agents now over 20,000 (16,000 of which are on the southern border), violent crime is actually DOWN in Arizona per the latest FBI stats and the Administration has canned the $6 billion dollar boondogle of the virtual fence to divert the money to areas where the Border Patrol said it would do the most good. The physical fence construction continues.

    But, why let any of that get in the way of a good talking point? Sometimes principles are just to cumbersome to be carried up political mountains, I guess.


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