Friday, April 27, 2012
Thursday, April 26, 2012
Tuesday, April 24, 2012
Monday, April 23, 2012
Warren Buffet and the New Calculus of Gold
Central banks are quietly and very quickly making a de facto return to the gold standard.Lew Spellman points out that gold is quickly becoming an anchor of collateral against fiat currencies and links the announcement in which the Basel Committee is studying making gold a Tier 1 banking asset.
He makes the case that ALL fiat currencies fail the test of good collateral given ratings downgrades.
Try to find this information in any mainstream media outlet. You won't.
What is really interesting is that Professor Spellman was a FED insider. He WAS a Presidential Economic Advisor who is acknowledging that some form of a gold standard not only is necessary,
but is coming!
Warren Buffet and the New Calculus of Gold
The central banks of the BRIC countries are accumulating gold as quickly as they can and are starting
to push the gold standard into the market. What will happen to gold when we see 1% of the population
realize they have been had by their governments fiat currency? If 2% of the market decides to by gold.....
Oh my!
Lew Spellman, Professor of Finance at the University of Texas at Austin at the McCombs School of Business. He has also taught at Stanford, LBJ School of Public Affairs, the UT School of Law and the University of California at Berkeley. He has also served as the Assistant to the Chariman of the President's Council of Economic Advisors and as Economist with the Federal Reserve.
He makes the case that ALL fiat currencies fail the test of good collateral given ratings downgrades.
Try to find this information in any mainstream media outlet. You won't.
What is really interesting is that Professor Spellman was a FED insider. He WAS a Presidential Economic Advisor who is acknowledging that some form of a gold standard not only is necessary,
but is coming!
Warren Buffet and the New Calculus of Gold
The central banks of the BRIC countries are accumulating gold as quickly as they can and are starting
to push the gold standard into the market. What will happen to gold when we see 1% of the population
realize they have been had by their governments fiat currency? If 2% of the market decides to by gold.....
Oh my!
Lew Spellman, Professor of Finance at the University of Texas at Austin at the McCombs School of Business. He has also taught at Stanford, LBJ School of Public Affairs, the UT School of Law and the University of California at Berkeley. He has also served as the Assistant to the Chariman of the President's Council of Economic Advisors and as Economist with the Federal Reserve.
Friday, April 20, 2012
CBO Releases Info Showing US Government Finances Are Abysmal
Just released information from the Congressional Budget Office show the abysmal picture of US Government finances.
THe first graphics shows the US federal revenue, both in raw numbers (2.3 trillion in 2011) and as a
percentage of GDP (15.4%)
The second graph is mandatory spending - Social Security, Medicare, federal unemployment and federal retirement programs.
These mandatory entitlements add up to 87% of all taxes collected by the US government, totaling over $ 2.0 trillion, or 13% of America's 2011 GDP!
The last graphic is discretionary spending, which totals $ 1.3 trillion, mostly for defense and comes out to about 5% of GDP. Again, all of these numbers are from 2011.
THe first graphics shows the US federal revenue, both in raw numbers (2.3 trillion in 2011) and as a
percentage of GDP (15.4%)
The second graph is mandatory spending - Social Security, Medicare, federal unemployment and federal retirement programs.
These mandatory entitlements add up to 87% of all taxes collected by the US government, totaling over $ 2.0 trillion, or 13% of America's 2011 GDP!
The last graphic is discretionary spending, which totals $ 1.3 trillion, mostly for defense and comes out to about 5% of GDP. Again, all of these numbers are from 2011.
Please note that at the bottom of the graph, it says "Net Interest not included." What that means is that they don't add the $ 454 billion ($454,393,280,417.03 - a half a trillion dollars - the government spent on interest payments in 2011.
This is called "hiding the truth in plain sight," yet the politicians will deny any that the US is in financial trouble. Even Mr. Geithner arrogantly claims that there is "no risk" of the US becoming Greece.
The numbers don't lie and the basic rules of mathematics apply to all of us here in the USA. TIme to wake up America. You politicians are afraid to tell you the truth. Got gold?
Wednesday, April 18, 2012
Dylan Rattigan Exposes Fed Fraud
Visit msnbc.com for breaking news, world news, and news about the economy
Tuesday, April 17, 2012
Monday, April 16, 2012
Saturday, April 14, 2012
The War That WIll Kill The Dollar
An interesting and insightful speech by Richard J. Maybury of the Early Warning Report where he opines his concerns and reasons for the coming decline of the US dollar as the world reserve currency taken from the annals of US history. This was a speech given at the Casey Research/Sprott Summit in Phoemix, Arizona, on October 1, 2011.
The War that will Kill the Dollar
by Richard J. Maybury
The War that will Kill the Dollar
by Richard J. Maybury
I write mainly about two subjects: economics and geopolitics, or you might call it military affairs. In recent years I’ve devoted most of my writing to economic topics such as malinvestment and velocity — especially velocity, the speed which money changes hands — because the economy is what’s on most people’s minds.
But at this conference you’re already hearing a lot about economics — about the federal debt, money supply, stimulus, Tarp, QE, gold, silver, raw materials, currencies, and lot of other economic subjects I could talk about — and most or all the analysis will paint a picture of the dollar and other currencies dying.
I haven’t heard all the presentations yet, but I’m sure I will agree with them that the dollar has one foot in the grave and the other on a banana peel.
After all, according to the government’s own Consumer Price Index, since the Federal Reserve began operations in 1914, the dollar has lost 95% of its value. Once velocity turns sharply upward, I’m sure all hell is going to break loose, and the dollar will lose the final 5%.
But what David Galland asked me to be here for is to call your attention to something other than the economics — something much bigger — that’s sneaking up on us unnoticed.
In my opinion, even if all the economic analysis at this conference is wrong — even if none of the forecasted economic events happen — the dollar is still going to die, because it will be killed by geopolitical events, meaning war.
You already know about the government debasing the currency to pay for the bailouts, the stimulus, unemployment insurance, and other things, but you probably haven’t heard much about printing money to pay for new wars.
I don’t know anyone in the mainstream press who’s paying attention to this, so here’s the story.
Writers for thousands of years have observed that political power corrupts the morals and the judgment. This was as true in the days of the Roman warfare/welfare state as it is today for the US warfare/welfare state.
To me, the evidence is overwhelming that civilizations fall because political power corrupts.
The more political power there is, the faster and harder the civilization falls.
The primary purpose of the American Constitution, especially the Bill of Rights, was to limit power, because the founders understood power, and were very much afraid of it. John Adams referred to “cruel power,” and his colleague John Dickinson referred to “brutal power.”
In his book The Ideological Origins Of The American Revolution, historian Bernard Bailyn wrote about the beliefs of the early Americans regarding power. One writer during the Revolutionary period said “power is known to be intoxicating.” Another said power “converts a good man in private life to a tyrant in office.”
After the Revolution was over, the primary issue was, what to do about power. And that question was an obsession of Americans until the Civil War, when Lincoln answered it once and for all. He said, don’t even think about trying to escape from the federal government, or you will be dead. And 625,000 Americans ended up dead.
One of the main points I’m focusing on today is power, because I believe that this is the fundamental thing that’s wrong with the world. All this chaos — the financial problems, the wars, the riots, the declining incomes, the debasement of the currencies — at bottom it’s all caused by political power.
The enemy isn’t the democrats or republicans, the liberals or conservatives, the Chinese, Russians, the EU, or the Federal Reserve. These are not the enemy. The enemy is political power.
In the US, practically everyone believes the problem is that the wrong people are in power, and if we put the right people in power, then everything will be okay.
But the problem isn’t people, it’s power. No matter who gets it, they will be corrupted by it. The early Americans knew this, which is why they wrote the Bill of Rights.
One of the power holders’ main activities is robbing Peter to subsidize Paul. No one wants to be Peter and everyone wants to be Paul, so the victims use various forms of bribery and other political games to curry favor with the power holders. And the whole civilization just rots away.
I remember watching Milton Friedman in an interview once. He said that as far as he could tell, the collapse of every previous civilization — the Romans, Egyptians, Chinese and on and on — was preceded by the rise of a huge, powerful, ravenous government, which either grew up from within the civilization or was imposed from the outside.
A big government means your days are numbered.
Political power corrupts because it is, itself, corruption. It is the legalized privilege of using brute force on persons who have not harmed anyone. Only governments have this privilege. It’s what sets them apart from all other institutions. No one in a church, charity or business can use force except in self defense. Only governments have the legal privilege of initiating the use of brute force.
For our purposes here today, I want to home in on the fact that power corrupts not only the morals, but also the judgment.
Friday, April 13, 2012
Wednesday, April 11, 2012
Monday, April 9, 2012
Sunday, April 8, 2012
Thursday, April 5, 2012
Tuesday, April 3, 2012
Monday, April 2, 2012
Sunday, April 1, 2012
Hugo Salinas Price On The Need For Silver Coins in Your Monetary System
Hugo Salinas Price, Successful businesman, billionaire and crusader for monetization of honest money in the form silver coins as a means of saving wealth outside of fiat currencies. A must listen to interview from King Wold News and interviewer Erik King.
Listen here!
Listen here!
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