I Don't Understand

In a previous election cycle at least one candidate, Ron Paul, advocated the "Audit The Fed" plan.  Paul felt that the Federal Reserve is/was responsible for the collapse of the U.S. economy.  Senator Rand Paul wants to audit the Fed but our Republican congress won't allow it.  An article today in The Hill notes:

 - - - Fed Chairwoman Janet Yellen sent a letter to Senate leadership late last week saying that she opposes the bill and warning, if signed into law, it could damage the economy.
        The White House last year called Paul’s proposal “dangerous.”
      “What that bill is about is about Congress supplanting its judgment as to what monetary policy should be,” said Jason Furman, chairman of Obama’s Council of Economic Advisers. “Congress shouldn’t be telling the Fed what to do with monetary policy.”  - -

Clearly the fox doesn't want anyone else to guard the hen house.  God forbid the people's representatives should shield the people's treasure.

I hear the leading Republican candidates tout their intention to "make America great again", so I don't quite understand why they don't promise to audit the Fed upon ascending to the presidency.

Clearly certain hens are also sleeping with the fox.

What the Fed accomplishes, besides bankrupting us with unrepayable interest debt, is the perpetual cycle of boom and bust which creates winners and losers.  The nation's founders argued passionately against allowing a central, private bank to manage the nation's money.  I think God knew this would happen before he spun up the Earth.  It probably happens on every planet ever spun up in the universe.

I should say, "I do understand."

Drum Beat

I watched a little CNN this morning.  I have this image in my mind of the job interview process for CNN anchors -

INTERVIEWER: - - "Thanks for coming in to meet with us today.  Let's get started. 

First, do you worship Barack Obama and his socialist ideals?"

APPLICANT: - -  "Yes."

INTERVIEWER: - - "Great, you're hired. Start tomorrow."

The discussion on the network's shows today has been the horrific stories caused by the now three-day-long partial shutdown of federal government operations - children are dying of cancer, impoverished government employees cannot afford their medication, federal workers will have their homes foreclosed on, the sky will soon fall in.  Sacrosanct is Obaminacare, so that more wealth can be redistributed by the government (while paying the IRS $200 million to collect it from us).

Obama calls this "the Republican Shutdown".  He will not talk to Republican leaders to work out a compromise, so the shutdown may drag on for a while.  Today, Obama mentioned how terrible it will be if we have not only a government shutdown, but also the "economic shutdown" which will ensue if we don't "pay our bills" and meet our "financial obligations" - translate - "continue to pay our ($1 billion dollar-per-day) interest payments to the usury-mongers.  God forbid!!  Then the sky really would fall in, right?  Or would it?

Obama said that were we not to pay our debt payments, it would hurt all the other countries around the world.  If the other countries joined us, however, in an interest payment moratorium, what would happen?  I guess a few Mediterranean banking families would not collect our hard-earned paper cash that they counterfeited, and they would have to start dipping into all those gold reserves they confiscated from the world's nations.

Whom is Obama protecting?

Nobody would say that CNN's talking heads are evil, but why do they maintain this persistent pro-Obama-socialist drumbeat to convince viewers that free stuff is the right way to run a country, when the free stuff has to be stolen from other folks?  I guess conservatism runs in my blood, because I cannot understand the mindset of people who want entitlements, unless a spirit of plunder runs through their veins.  Obama's model is downright devilish and unconstitutional.

I'm going to watch this squabble over the next few days, because I think that the nation may soon realize that Obama is the one standing in the way of a solution.  He wants you to think that it is the Republicans who are being obstinate. The law of unintended consequences may kick in.

Legalize Competing Currencies

by Ron Paul

http://www.ronpaul.com/2012-08-13/ron-paul-legalize-competing-currencies-2/

I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America.

This monopoly is maintained using federal counterfeiting laws, which is a bit rich. If any organization is guilty of counterfeiting dollars, it is our own Treasury. But those who dare to challenge federal legal tender laws by circulating competing currencies — at least physical currencies — risk going to prison.

Like all government created monopolies, the federal monopoly on money results in a substandard product in the form of our ever-depreciating dollars. 

Yet governments have always sought to monopolize the issuance of money, either directly or through the creation of central banks. The expanding role of the Federal Reserve in the 20th century enabled our federal government to grow wildly larger than would have been possible otherwise. Our Fed, like all central banks, encourages deficits by effectively monetizing Treasury debt. But the price we pay is the terrible and ongoing debasement of our money. 

Allowing individuals and business to use alternate currencies, especially currencies backed by gold and silver, would expose the whole rotten system because the marketplace would prefer such alternate currencies unless and until the Fed suddenly imposed radical discipline on its dollar inflation.

Sadly, Americans are far less free than many others around the world when it comes to protecting themselves against the rapidly depreciating US dollar. Mexican workers can set up accounts denominated in ounces of silver and take tax-free delivery of that silver whenever they want. In Singapore and other Asian countries, individuals can set up bank accounts denominated in gold and silver. Debit cards can be linked to gold and silver accounts so that customers can use gold and silver to make point of sale transactions, a service which is only available to non-Americans.

The obvious solution is to legalize monetary freedom and allow the circulation of parallel and competing currencies. There is no reason why Americans should not be able to transact, save, and invest using the currency of their choosing. They should be free to use gold, silver, or other currencies with no legal restrictions or punitive taxation standing in the way. Restoring the monetary system envisioned by the Constitution is the only way to ensure the economic security of the American people. 

After all, if our monetary system is fundamentally sound– and the Federal Reserve indeed stabilizes the dollar as its apologists claim–then why fear competition? Why do we accept that centralized, monopoly control over our money is compatible with a supposedly free-market economy? In a free market, the government’s fiat dollar should compete with alternate currencies for the benefit of American consumers, savers, and investors.

As Austrian economist Ludwig von Mises explained, sound money is an instrument that protects our civil liberties against despotic government. Our current monetary system is indeed despotic, and the surest way to correct things simply is to legalize competing currencies. 

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Interesting.

America is Finished !!!

I watched a YouTube video today that gave me the convincing I finally needed that America is finished.

A civil rights proponent (U.S. Congressman) attended a rally organized by the Occupy Atlanta/(Wall Street) mob.  He was scheduled to address the zombies in attendance but was turned away.  Yours truly is at least as supportive of the eradication of the Federal Reserve banking system as are these hippie youths.  Sadly, these robots appear to have had their brains removed.  Watch and shudder!

Print, Baby, Print!

I read an article (video) yesterday that explained to me better than anyone has how deeply at risk is the American dollar. Until the 1940's, the British pound (Sterling) was the world's reserve currency.  After the Marshall Plan rolled out, the US Dollar became the world's reserve currency.

What does it mean to have our currency be the world's reserve currency?  It means that other countries have to buy foreign goods with dollars.  If Belgium wants to buy oil, it has to pay for it with dollars.  It buys dollars first, and then it uses the dollars to buy the oil.  So, what is the relevance of this?

Well, the U.S. can print dollars to its heart's content.  The other countries cannot.  Twice in the last few months, Ben Bernanke fired up the presses and (virtual-)printed hundreds of billions of dollars (QE1 and QE2).  When the U.S. has trouble paying the interest on its debts, Bernanke magics up new dollars to cover it (abracadabra).  Other countries are powerless because they cannot do that.  Problem is - other countries will only sit by and watch us playing this game for just so long before they figure out that the massive inflation of our money supply causes the value of the dollar to shrink.  Several large nations met recently (without us) to explore using a different currency for international transactions.  China recently significantly reduced its holdings of US dollars.

Other countries have tried to "over"-print their currency to avoid financial ruin in the past.  In 1975, Britain devalued the pound by 14% overnight.  Rather than solving problems, this brought the British economy to a standstill, and triggered a string of national wage strikes.  Yugoslavia printed itself out of existence in 1993.

If the day comes soon that the US dollar ceases to be the world's reserve currency, all of the goods we buy from overseas - oil, automobiles, food, precious metals, electronics, etc., will be calling for fair value in payment.  If our dollar has lost significant value because of over-printing, then more dollars will be demanded in payment for those same goods.  Everything will suddenly double or triple in price.  Every American will be impoverished overnight (except for those few who own precious metals).

Ask yourself - is this happening through sheer oblivion and stupid incompetence?  Is America's imminent financial ruin the result of clumsy bumbling?  --- OR --- Was it choreographed?

The globalist elite have plundered the world's silver and gold (giving us worthless paper notes in exchange).  They can print paper (or digital ledger entry) dollars, at will, to control the liquid money supply (to create booms and busts).  They have a deliberate, finely-crafted plan to change the political structure of the whole world.  They envision a (much) smaller population, one which will serve them like slaves.  The financial crash and attendant wars are a scripted part of a planned global transition.  The (Gadianton) 'One-Worlders' have flexed so much unfettered muscle for so many centuries, that they are truly confident that their plan will succeed.  After all, they already own every part of this earth.  What they forget is that the Creator of this world (Michael) is its real owner, and He has a different plan for the coming transition.  I sometimes wonder just how ripe in iniquity this world has to get before our Father will kick in His (TERRIBLE) "marvelous work and a wonder".  Evidently, He will let many or all of the prophecies of Jesus, John the Revelator, Ezekiel, Daniel, Isaiah, Joseph Smith and others come to fulfillment.  Why?

Apparently, it is in the crucible of crisis and adversity that God's people can be humbled and tested.  Also, when faced with awful trials or choices, their character can be measured, and the judgment/reward process can be effectuated.  So, Bernanke, print away!  Just remember that Greenbacks are non-nutritive.

Who holds the keys?

Bernanke: "We could raise interest rates in 15 minutes if we have to."

If you were ever under the illusion that We The People are sovereigns in this land, read the above statement again (from Federal Reserve chairman, Ben Bernanke) reported in this article.

Do we go to a polling station to vote for Bernanke or Greenspan? Why is he merely appointed (with only the charade of a token acquiescence from the President)? It's one thing to have political power, but "He who has the gold makes the rules'.

Why, "in 15 minutes", can one little Irish guy from Dillon, South Carolina, named Ben Shalom Bernanke, be vested with so much unbridled power that he can change the course of U.S. monetary policy without so much as a wink from the Senate and the House? Who votes? Who oversees these decisions? I've never seen such decisions argued in a committee of our representatives. It appears that Bernanke and his posse just do what they want when they want - the People be damned!

When the private corporation known as the "Federal" Reserve was created in 1913, it was given power to "coin" (print) our money, except that all the money it printed for us would now come to us in the form of a loan, on which we would have to pay interest. Funny thing is - it doesn't really cost the Fed a lot to print paper money - practically nothing, in fact. PLUS - we had to put up collateral to get those paper money (Federal Reserve [loan] "Notes"). What collateral? ---- Treasury Bills.

So, here's the key to the whole swindle - the Fed, which has invested NOTHING in the whole scheme, tells us the following: first - our paper "dollars" (created virtually out of thin air) are NOT redeemable for gold; secondly - it will eventually NOT accept our paper dollars as repayment for the "loan"; and thirdly - it can exchange the Treasury Bills ("T-Bills") we gave it FOR OUR GOLD. This is why Fort Knox is empty.

In truth, banks have been trying to seize control of our economy and our lifeblood since long ago (read about the Bank War in Wikipedia). When we abdicate our birthright and freedoms to a pack of "money-changers", we eventually reach a crossroads or a precipice. Perhaps a better word would be "showdown".

The adversary has some objectives: one is to control our agency; another is to make us do evil things so that our guilt will debilitate us. He resents our salvation (through Jesus) and dreads our exaltation (through the Father). Satan's goal is to subdue the entire earth. The next step is a complete dismantling of the world's economies so that all nations can be compelled to align under a single set of global, dictatorial rulers.

Who do you think holds the keys to this world? Is it Bernanke?

Fox Guarding Hen House II

You know I like to point out ironies in the world around us. The irony I'll highlight in today's post has nothing to do with polygamy, and everything to do with Gadianton robbers (of at least Book of Mormon fame).

I watched the news this morning and learned that Senate Minority leader, John Boehner (R-Ohio), is asking for the new Financial Reform Bill (passed yesterday in the Senate) to be swiftly repealed (partly because it does nothing to address the huge abuses perpetrated by Fannie Mae and Freddie Mac). Boehner's critics are accusing him of "siding with the banks". Ostensibly, the purpose of this (Obama's) bill is to shield the nation against another meltdown like that of 2008 and place many more checks on American financial institutions. That all sounds well and good. Who among us has read and understood this 2,300 page bill? Did you know that the bill already has so many problems and loopholes that Congress is frantically working to pass a second bill to fix the problems in the first one?

Okay - so what is the big IRONY, you ask? Well, the entity which has been tasked to oversee the regulation of our nation's private financial institutions is the Federal Reserve. That would be just fine if the Federal Reserve really were "federal". In truth, the "Federal Reserve Act" was passed in 1913 after efforts to pass it the year before had failed. It had first been called the "Aldrich Plan", and the People had rejected it, knowing it was meant to concentrate the power to issue money into the hands of a private, central bank. Slyly, the name was changed to "Federal Reserve" (eventually to be set up as 12 regional, member banks). This was sufficient to hoodwink the people, and the bill passed. Do not have any illusions that this private "system" of banks is in any way "FEDERAL"! For a simple explanation, see the following two links:

The Truth of the Federal Reserve System
The Secrets of the Federal Reserve

So, now that the bill has passed, the (ever-private) Federal Reserve will perform all of the regulation of private financial institutions, deciding which ones will succeed and which will fail. The federal government has let the fox into the hen house. Methinks that the exquisite irony is that it is Obama, Pelosi and Reid who are "siding with the banks"!

Don't say I didn't warn you (and watch out for that Berwick creep whom Obama just [recess-]appointed to run ObamaCare [Medicare/Medicaid] and the end-of-life, care-rationing death-panel).

It's "sigh and cry" time.