Federal Fallacy

Attention Congress: We don't want debt

2009-02-12T07:32:00.000-08:00

I am amazed at what I see in the mainstream media in regards to lending. We have been told over and over again that the problem with our financial system is that banks aren't lending. They don't have the capital to lend, thus freezing lending and bringing our economy to a stand-still. Thus, the Treasury has injected billions into banks nationwide, whether they wanted the gracious gift or not.

Explained - what the dollar and the US economy is facing

2009-02-10T09:27:00.000-08:00

We're moving toward a savior-based economy - Gov. Mark Sanford

2009-02-10T08:58:00.000-08:00

WASHINGTON (CNN) – As many state and local officials clamor for their share of the billions of dollars in federal aid in the stimulus bill under consideration in Washington, South Carolina’s Republican governor is sounding a note of dissent about federal efforts to help the economy. “A problem that was created by building up of too much debt will not be solved with yet more debt,” Gov. Mark

It's the Federal Reserve, stupid.

2009-02-10T08:47:00.001-08:00

By Chuck Baldwin February 10, 2009 NewsWithViews.com According to Bloomberg News (Monday, February 9, 2009), "The stimulus package the U.S. Congress is completing would raise the government's commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation's home

The fallacy that is FDR

2009-02-10T08:39:00.001-08:00

U.S. Treasury delays bank bailout announcement

2009-02-09T07:01:00.000-08:00

My take? They are out of "traditional" options. All options left are not without dire consequences down the line. 350 billion is a drop in the bucket compared to the capital needed to keep the banks solvent. And you know every cent will go to the banking sector...this talk of foreclosure mitigation is pure political theater, as it has been since day one.---WASHINGTON (Reuters) - The Obama

Treasury interest expense on outstanding debt

2009-01-30T08:30:00.000-08:00

Current Fiscal YearDecember $97,775,030,034.07November $18,558,733,892.95October 18,984,305,636.29Fiscal Year Total $135,318,069,563.312008 $451,154,049,950.632007 $429,977,998,108.202006 $405,872,109,315.832005 $352,350,252,507.902004 $321,566,323,971.292003 $318,148,529,151.512002 $332,536,958,599.422001 $359,507,635,242.412000 $361,997,734,302.361999 $353,511,471,722.871998

The world says "how the hell are you going to pay for that?!"

2009-01-30T08:13:00.000-08:00

Isn't it funny that the only people concerned about actually funding our pork-laden "stimulus" packages are those outside our borders. This, coming from recent statements from Obama declaring that "this is only the beginning" and further stating the current bill is only a down payment on the eventual downfall of this country.---As the U.S. Congress looks for ways to expand President Barack

Think we're on the road to recovery?

2009-01-29T07:08:00.001-08:00

Think again.

The World Won't Buy Unlimited U.S. Debt

2009-01-23T09:36:00.000-08:00

By Peter SchiffBarack Obama has spoken often of sacrifice. And as recently as a week ago, he said that to stave off the deepening recession Americans should be prepared to face "trillion dollar deficits for years to come." But apart from a stirring call for volunteerism in his inaugural address, the only specific sacrifices the president has outlined thus far include lower taxes, millions of

Whistleblower: NSA spied on everyone, targeted journalists

2009-01-22T07:14:00.000-08:00

Former National Security Agency analyst Russell Tice, who helped expose the NSA's warrantless wiretapping in December 2005, has now come forward with even more startling allegations. Tice told MSNBC's Keith Olbermann on Wednesday that the programs that spied on Americans were not only much broader than previously acknowledged but specifically targeted journalists."The National Security Agency had

My response to CNBC's "call to action"

2009-01-22T06:37:00.001-08:00

In response to this article:http://www.cnbc.com/id/28756488---Bob,I appreciate your efforts to get folks to contact their banks about the bailout. However, I have a couple comments on your opinion on the TARP.The bailout money was never meant to be loaned out. Paulson used bait and switch tactics and fear mongering to get it passed through Congress, even going as far as to threaten martial law

Geithner to be confirmed, proving once again that the Treasury Secretary is untouchable

2009-01-21T06:45:00.000-08:00

Would you be hired as a police officer if you were caught with a meth lab? Would you be hired as a firefighter if you had past convictions as an arsonist? Would you be hired as a pilot if you had a history of crashing planes?Of course not. These obvious statements of logic do not apply to the Federal government, however.Don't you just love the political appointee system. Or is there a system

"Sharing the pain" when you didn't create it in the first place

2009-01-20T08:31:00.000-08:00

By Mish's Global Economic Trend AnalysisPresident Obama has called for sacrifice and sharing. I wholeheartedly agree.However, before sharing the pain, and before working towards a solution, we must understand the problem. To date, many mistakes have been made because Congress, the Fed, and the previous administration did not attempt to understand the problem and the role everyone played in

Shocker! These bailouts won't work either

2009-01-19T06:02:00.000-08:00

The new bank bailouts are not likely to work because they are run by the same people who prolonged the economic agony by throwing money at weak companies rather than allowing them to fail and encouraging the strong ones, Marc Faber, the publisher of the Gloom, Doom and Boom Report, told CNBC Monday.Britain threw its troubled banks another multi-billion pound lifeline Monday by allowing them to

How to Steal Billions in Plain View: Bernanke’s Robber Banks

2009-01-15T09:30:00.000-08:00

The Federal Reserve is living up to its purpose, which is to enrich bankers at the expense of everyone else. Ben Bernanke, who chairs the Federal Reserve Board, is to be congratulated for his open call for the banks under his tutelage to receive billions more of our tribute. Let us understand the

Inauguration: "State of Emergency"

2009-01-14T06:20:00.001-08:00

In other words, we need more money. As if 30 million isn't enough for the overly lavish inaugration ceremony, at a time when our country is bankrupt and our economy is sinking into oblivion. It's being sold as an additional measure to "protect the public", as if every police officer on the east coast, flanked by 11,000 National Guard troops, all armed with automatic weapons, is somehow

Zimbabwian crystal ball: what we have to look foward to

2009-01-13T06:35:00.000-08:00

Zimbabwe's central bank will introduce a $50 billion note -- enough to buy just two loaves of bread -- as a way of fighting cash shortages amid spiraling inflation.

Bernanke: More bank bailouts needed

2009-01-13T05:23:00.000-08:00

Can the American people stomach another round of bank thefts? Oh who am I kidding, they don't have a choice!---Federal Reserve Chairman Ben Bernanke said Tuesday the stimulus package being crafted by President-elect Barack Obama and Congress could provide a "significant boost" to the sinking economy. But he warned that such a recovery won't last unless other steps are taken to stabilize the

Peter Schiff on Russia Today

2009-01-08T09:17:00.001-08:00

Another 673,000 jobs lost in December

2009-01-07T06:29:00.001-08:00

U.S. private-sector employers shed 693,000 jobs in December, a private employment service said Wednesday in a report that was far worse than expected and pointed to more ugly news from the government's jobs data due later this week.The drop, much bigger than the revised 476,000 private sector jobs lost in November, is consistent with about a 670,000 fall in December non-farm payrolls, said Joel

The credit crunch that isn't

2009-01-06T08:55:00.000-08:00

The media and the political interventionists have insisted that a huge credit crunch is going on that "proves" the failure of financial capitalism and the free market in general.What is a work is another political "fast one" to rationalize and justify the growth of the interventionist-welfare state.The Federal Reserve's own data shows this to be another big government lie. Throughout 2008 bank

Ron Paul on Madoff and the SEC

2009-01-06T06:08:00.000-08:00

Chrysler continuing to spend hundreds of thousands of dollars to "thank us"

2009-01-05T07:59:00.000-08:00

Chrysler is continuing it's recent PR stunt by purchasing full page ads in both USA Today and the Wall Street Journal, thanking Americans for helping them out. As if we had any say whatsoever in the automaker looting of America. This is the ultimate salt in the wound maneuver; spending hundreds of thousands of our own tax dollars to thank us for doing so.This has got to be the worst PR strategy

Federal Reserve - masters of doublespeak

2009-01-05T06:07:00.000-08:00

Highlighted are the blatantly obvious doublespeak phrases, newspeak language, or otherwise ludicrous statements in order to acclimate the American public into believing that their actions are justified. It sounds so sophisticated and heroic, doesn't it!---The Federal Reserve will use all of its tools, including unconventional policy measures, to support the U.S. economy and financial markets,

More "change" from the Obama camp

2009-01-05T06:01:00.000-08:00

(CNN) -- New Mexico Gov. Bill Richardson is withdrawing his nomination to be commerce secretary, citing the distraction of a federal investigation into ties to a company that has done business with his state.

U.S. says will give $85 million to help Palestinians

2008-12-30T12:43:00.000-08:00

We give $85 million to Palestine, while we have openly supported Israel for how long now? Oh, and our economy is crumbling around us, we have NO money left except the printed-out-of-thin-air variety, yet we have $85 mil to spare for a war in which we are arming both sides? Wake up America.http://www.reuters.com/article/worldNews/idUSTRE4BT3VO20081230

Schiff schools CNBC drones yet again

2008-12-30T09:11:00.000-08:00

Transition and Hope

2008-12-30T08:16:00.000-08:00

By Ron PaulTexas Straight TalkAs another year draws to a close, there are some important transitions ahead of us. Not just transitions to a new administration, but also economically, politically and culturally. Many hoped that the changes would signify overwhelming positive steps for our country, and that we would enter a new era, as promised during the campaign. I would like for this to be

GMAC becomes bank, bailed out with TARP funds

2008-12-30T05:36:00.000-08:00

To be PC, the word "bailout" has been replaced by the happier terms "rescue" and "lifeline."---NEW YORK (CNNMoney.com) -- In yet another move to prop up the crumbling U.S. auto industry, the government announced Monday that it will pump $6 billion into GMAC Financial Services, a financing company critical to the survival of General Motors.The rescue package has two parts. The Treasury Department

Europeans see euro trumping dollar

2008-12-29T13:16:00.000-08:00

The euro could overtake the dollar in global importance in the next five years, a large majority of continental Europeans believe, according to a poll days before Europe’s monetary union reaches its 10th birthday.The striking display of faith in the euro, revealed in an FT/Harris poll published on Monday, follows recent rises in the currency’s value that have brought it close to parity with the

There's No Pain-Free Cure for Recession

2008-12-29T08:23:00.000-08:00

By Peter SchiffWall Street JournalAs recession fears cause the nation to embrace greater state control of the economy and unimaginable federal deficits, one searches in vain for debate worthy of the moment. Where there should be an historic clash of ideas, there is only blind resignation and an amorphous queasiness that we are simply sweeping the slouching beast under the rug. With faith in the

China has had enough.

2008-12-29T07:54:00.000-08:00

Dec. 29 (Bloomberg) -- The global recession is re-exposing fissures in U.S.-China relations that Treasury Secretary Henry Paulson spent more than two years smoothing over. Heightened tensions between China and the U.S. may worsen a contraction in world trade that already threatens to deepen and prolong the economic downturn. The friction comes as President- elect Barack Obama readies a two-year

States to start selling infrastructure en-masse to make up budget shortfalls

2008-12-29T06:57:00.001-08:00

I'm sure our foreign debtors would be more than willing to accept the title to our infrastructure as settlement for our huge debts. Sure, it will allow states to avoid raising taxes...but instead we'll simply be paying huge tolls and fees to use infrastructure that our tax dollars built...and the proceeds will go to foreign nations. However, we wouldn't expect our feeble politicians to think

Paul: Economic crisis may be a blessing

2008-12-29T06:15:00.000-08:00

The following is an exclusive Press TV interview with US congressman Ron Paul, a unique conservative politician who wants an end to US military presence on foreign soil, advocates US withdrawal from the UN, NATO and the North American Free Trade Agreement (NAFTA) and opposes the Internal Revenue Service (IRS). Ron Paul, House representative of the 14th district of Texas, believes that US foreign

The third-worlding of Detroit

2008-12-24T08:39:00.000-08:00

The Great Depression has reached Detroit. The average price of a home is now $18,513 and unemployment has reached 21%, and it’s expected to get worse. Detroit is facing a crisis of epic proportions that officially puts Detroit statistically (and real term) on par with the great depression. Many readers of Tribble Ad Agency are advertising centric.. and due to the rash of layoffs within all

More "change" you can believe in

2008-12-24T07:13:00.000-08:00

Defense Secretary Robert M. Gates is asking many of the Bush administration's 250 Pentagon political appointees to remain on the job until the incoming Obama administration finds replacements -- a move designed to prevent a leadership vacuum with U.S. troops engaged in wars in Iraq and Afghanistan. The unusual request by Mr. Gates, whom President-elect Barack Obama has asked to continue in his

Is the Medicine Worse Than the Illness?

2008-12-22T09:18:00.000-08:00

By James GrantWall Street JournalElihu Root, Republican senator from New York, thought he smelled a rat. Anticipating the credit inflations of the future and recalling the disturbances of the past, Mr. Root attacked the bill in this fashion: "Little by little, business is enlarged with easy money. With the exhaustless reservoir of the Government of the United States furnishing easy money, the

Madoff would be a perfect candidate to run Social Security

2008-12-22T07:54:00.000-08:00

Madoff ponzi scheme = pay returns to past investors with current investors' moneySocial Security ponzi scheme = pay returns to past contributors with current contributors' moneyIf we're real lucky, we'll call the position "Social Security Czar" in accordance with our government's continuing obsession with Soviet Russia.

2009

2008-12-22T06:38:00.000-08:00

My thoughts on 2009 are not positive. My thoughts on the future of this country are not positive. For that, I am labeled a pessimist, but so be it. I refuse to accept concepts that are doomed to failure from the start, and have been proven as ineffective in the past. Sooner or later, people will dig their heads out of the sand and realize what is really going on, but I fear that by the time

$1.6B Went to Bailed-Out Bank Execs

2008-12-22T05:40:00.000-08:00

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits in the calendar year 2007, an Associated Press analysis reveals.The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank

CNBC to consumers: spend or ruin the economy

2008-12-19T13:25:00.000-08:00

This is just disgusting.In a recent study released by the Pew Research Center, it was reported that 73% of Americans say they plan to cut back on their holiday shopping this year. Nearly six-in-10 of those who said they're cutting back report they're doing so because they worry things might get worse; only 28% said they are cutting back because their financial situation has deteriorated. Sure, we

With economy in shambles, Congress gets a raise

2008-12-19T11:23:00.000-08:00

A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay.Instead, they will get a $4,700 pay increase, amounting to an additional $2.5 million that taxpayers will spend on congressional salaries, and watchdog groups are not happy about it.“As lawmakers make a big

Another Paulson headfake

2008-12-19T09:07:00.000-08:00

Just a few short days ago, Paulson said he had "no plans" to seek the additional 350 billion from the TARP fund before leaving office. It should come as no surprise that he juked the country again, running to Congress with his tried-and-true fear mongering. Paulson says he now needs the additional 350 billion to pay for the auto bailout and to "to support financial market stability."Congress

Illuminating the Illuminati: Charles Schumer and Barney Frank Are Owned By The Big Banks

2008-12-19T07:34:00.000-08:00

By Cody WillardFox Business NetworkHere’s a winning formula for our society, wouldn’t you agree? Let’s entrust our politicians to regulate an industry, then have the heads of that industry become the bureaucrats who are entrusted to carry out those regulations, and when things go wrong from all that cronyism, let’s have give tons of welfare money to the giant corporations in that industry which

Automakers get their money, Stalin rejoices

2008-12-19T05:26:00.000-08:00

The amount: 13.4 billion, with the opportunity for an additional 4 billion in February.The reasoning: "To avoid a disorderly bankruptcy." "To avoid further economic collapse." "Insert random fear mongering tactic here."The conditions: Must prove to be financially viable by March or the loans are called back to the Treasury. Must cut executive compensation. Absolutely nothing so far about

Fed Loans Guided by Raters Grading Subprime Debt AAA

2008-12-18T07:47:00.001-08:00

Dec. 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke is basing hundreds of billions in emergency lending on credit ratings from companies that gave AAA grades to toxic securities. The Fed has purchased $308.5 billion in commercial paper and lent $631.8 billion under eight credit programs, most of which require appraisals of short-term debt and loan collateral by “major

Chrysler closes plants for a month; White House scrambles

2008-12-18T05:52:00.000-08:00

Chrysler has announced that it will shut down all plants for at least a month, with the last shift ending tomorrow. This comes off the heels of a failed bailout legislation, that was defeated handily by the Senate due to failure of the UAW to budge on a labor compromise. It also follows GM, who announced it will idle over 20 plants in a cost cutting measure.As a result, the White House has

Lawsuits, the Cadaver & Gold

2008-12-17T12:31:00.000-08:00

An historically unprecedented mess has been created by compromised central bankers and inept economic advisors, whose interference has irreversibly altered and damaged the world financial system, urgently pushed after the removed anchor of money to gold. Analysis features Gold, Crude Oil, USDollar, Treasury bonds, and inter-market dynamics with the US Economy and US Federal Reserve monetary

Pessimistic = Realistic

2008-12-17T07:29:00.000-08:00

This excellent commentary explains the real truth, and the real consequences, behind yesterday's rate cut. Every single person in this country needs to be aware of this situation.Yesterday we closed at a historic low, and early indications today are even worse, at 21.20 The IRX, or yield on the 13 week T-Bill, is essentially zero.One cannot argue one simple fact - Bernanke hasn't yet started

iPod tax...salvation from a financial meltdown

2008-12-17T06:22:00.000-08:00

Gov. Paterson of the great state of New York is getting creative in his attempt to close the budget deficit in the state. Just take a look at some of the tax proposals:An "iPod tax" that charges state and local sales tax for "digitally delivered entertainment services" - in other words, that new Beyonce song you download. State sales tax at movie theaters, sporting events, taxis, buses,

SEC's Chris Cox to those who lost billions due to ponzi scheme: My bad.

2008-12-17T05:51:00.001-08:00

"I am gravely concerned by the apparent multiple failures over at least a decade to thoroughly investigate these allegations or at any point to seek formal authority to pursue them," said commission Chairman Christopher Cox in a written statement.That's all you'll get from Chris Cox and the SEC, who turned a blind eye time and time again when warned about Bernard Madoff, who allegedly ran a ponzi

Fed cuts interest rates to zero

2008-12-16T11:34:00.000-08:00

In a shocking turn of events (sarcasm), the Fed has slashed interest rates "from zero to 0.25%" aka 0%.As a result, gold and silver are up and the dollar is down. I fear the dollar has begun it's never ending death spiral.Solving the problem of too much cheap money with....FREE money; sounds like a great solution to me.

Obama Says Fed Is "Running Out of Ammunition"

2008-12-16T09:11:00.000-08:00

He says tools are still available, but it's critical for other branches of government to "step up." He says an economic recovery plan is still "absolutely critical."Obama said his economic team is meeting today, working on what he calls a "bold agenda."This scares the hell out of me.

Economic Freedom or Socialist Intervention?

2008-12-16T08:22:00.000-08:00

By Ron PaulTexas Straight TalkThe freedom to fail is an essential part of freedom. Government- provided financial security necessitates relinquishing the very essence of freedom. Last week, the big 3 American automakers came back to Capitol Hill with their hands out to the government. Congress spent this past week debating how much money to give them and what strings should be attached.

Follow the money trail

2008-12-16T07:23:00.000-08:00

Why was the bank bailout bill defeated the first time, yet passed feverishly the second time when the vast majority of Americans were vehemently against it?Did our Congress do what's best for America? Sadly, no. Video below explains it all.

Most Americans Don’t Understand Basic Economics

2008-12-16T05:15:00.000-08:00

New survey shows the majority of consumers can’t correctly answer questions about borrowing, interest rates and even basic math.The Center for Economic and Entrepreneurial Literacy (CEEL) recently released a new survey underscoring the need for increased education on personal finance and economic issues. The national survey shows an overwhelming number of Americans are unable to answer some of

Innovation at the Federal Reserve

2008-12-15T12:57:00.000-08:00

Looks like the Fed is about to get a little more creative with it's "toolkit" (i.e. basket of unconstitutional, phony solutions to our financial problems) . That doesn't come at a shock, considering interest rates are near zero, so there's no more room for "quantitative easing" in that regard. Or, as Keynesian propaganda outlet CNBC likes to call it, "further unconventional steps." Might as

Rod Blagojevich: What's the real story?

2008-12-15T09:34:00.000-08:00

The Rod Blagojevich scandal has turned into quite the media circus. It has all the makings of a great smear story: a disgraced governor, rampant corruption, ties to the President-elect, uncertain involvement by the President's cabinet, and the list goes on. However, there is something fishy here and I doubt it will be discussed by the media.On December 8th, Rod Blagojevich visited the workers

CBS: Barney Frank is the smartest guy in Congress

2008-12-15T06:50:00.000-08:00

Read story hereReally CBS? Smartest guy in Congress?This is the same guy who:Stated boldly that Fannie and Freddie were in perfectly good health and there was nothing to worry about.Was involved in a prostitution ring scandal.Authored the TARP bailout, basically giving Henry Paulson free reign, limitless power and unlimited taxpayer dollars. Not to mention it was loaded with pork. How'd that

President Bush...Human or Ninja?

2008-12-15T06:09:00.000-08:00

Say what you want about President Bush, but he's got some cat-like reflexes! I must say, I'm very impressed.On a serious note, the shoe-thrower was a well established reporter, not some crazy extremist. This incident speaks volumes about the level of angst against the United States, even by well-to-do Iraqi's.

Ron Paul on the auto bailout

2008-12-13T09:00:00.001-08:00

A Nightmare Before Christmas

2008-12-12T12:53:00.000-08:00

By Peter SchiffEuro Pacific CapitalLike many pragmatic economists I have always warned that rapid expansions of government debt would result in inflation and higher interest rates. The explanation was always simple: rising supply of government debt inflates the money supply and weakens the government’s ability to service its debt through legitimate means.But In recent months, government has

Fed refuses to reveal recipients of taxpayer funds

2008-12-12T11:41:00.001-08:00

Dec. 12 (Bloomberg) -- The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral. Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during

GOP Senator Warns of 'Riots' if Automakers Are Bailed Out

2008-12-12T09:14:00.000-08:00

Farm animals are not immune to the Federal government

2008-12-05T09:12:00.000-08:00

http://news.yahoo.com/s/ap/20081205/ap_on_bi_ge/farm_scene_cow_tax_2The Federal government will now place a tax on farm animals farting. Really. The worst part of it: The Supreme Court upheld this absolutely ridiculous piece of legislation. They deemed that flatulence was indeed "air pollution."Wow. What else can you say about that. You may want to think twice next time you do a little crop

Friday numbers

2008-12-05T07:28:00.000-08:00

We have some unfortunate numbers to report so far:533,000 hard working Americans lost their jobs last month. This is considerably more than what was expected and is hard to fathom. The US automakers will no doubt use this to their advantage today in Congress.Mortgage foreclosures rates rose to 2.97%. This coming after a leaked "plan" by the Fed to buy up consumer mortgages. I sincerely wish

Strange goings-on north of the border

2008-12-05T07:16:00.000-08:00

http://www.msnbc.msn.com/id/28053048/I guess PM Stephen Harper isn't ready to get out of office so soon! His solution is genious: simply shut down the government so he can hang onto power for a couple more months. For gods sake, don't give G.W. any ideas. Not that Obama will be any different.

Israel preparing to strike Iran without US

2008-12-05T07:12:00.001-08:00

This could get ugly. Regardless of how it starts, you know we can't resist intervening in wartime scenarios, even when we create them.

The difference between "sales" and "profits"

2008-12-05T06:53:00.000-08:00

http://www.signonsandiego.com/uniontrib/20081205/news_1b5retail.htmlOh how I love the media. And oh how I love it when they twist consumer spending numbers.You see, no one seems to understand the difference between "sales" and "profits." A business can have billions in sales and still be failing (read: US automakers). Sales is the measure of how much a business is actually selling, and

Gold Will Rise to $2,000 by 2010

2008-12-03T07:03:00.000-08:00

http://www.cnbc.com/id/28030936It's nice to hear an investor with some actual economic sense:When the state of the economy appears to have improved, investors will get "very real fears of a combination of currency debasement on the one hand and ... inflation on the other," Manduca said.

Peter Schiff - Bailout-a-Go-Go

2008-12-02T08:48:00.000-08:00

By Peter SchiffEuro Pacific CapitalKeeping track of the ever mutating bailout debate is becoming increasingly difficult. With the Federal money spigots now thrown wide open, and with no one of influence advising restraint, the only debate is where to direct the torrent. During the past week, the talk began with Detroit and Citigroup, but by Friday had shifted to a massive "stimulus package" to

Obama may have a second crisis on his hands

2008-12-02T07:25:00.000-08:00

http://www.thebulletin.us/site/news.cfm?newsid=20210273The Supreme Court will now decide whether or not Obama is a natural born citizen, and thus eligible to become president. Thus far, Obama has brushed off allegations and has failed to produce an original birth certificate. Obama apologists have dismissed the issue ever since it was brought up, but it looks like it cannot be ignored any

If only...

2008-12-02T06:19:00.000-08:00

Ron Paul, if only we listenedBy Rod DreherI didn't vote for Ron Paul in the Republican primary (I was a Mike Huckabee man), nor did I write him in on Election Day (I penciled in farmer-poet Wendell Berry). But no Texan this year did more good for conservatism and his country than the congressman from the coast. Lord knows there was no Republican in the 2008 campaign who talked

Hopelessly tied to the dollar

2008-12-02T05:59:00.000-08:00

http://www.cnbc.com/id/27998655CNBC has boldly declared that cash is the new "safe haven" investment, replacing gold. How did they come to this conclusion? Gold took a $43 hit yesterday, of course, so that automatically makes the phony rally in the dollar the safest investment ever.I am continuously amused by these so called 'experts' on TV and spout off about the strengths of the dollar and

TARP didn't work, Paulson suggests more spending. Shocking!

2008-12-01T12:17:00.000-08:00

http://www.cnbc.com/id/27998806Bailouts failed once again, even Paulson isn't shy about admitting it:"Given that we have essentially guaranteed Fannie Mae and Freddie Mac securities, the rates on those securities -- and corresponding mortgage rates -- have not come down as much as we may have hoped," Paulson said.And this:He said banks, whether or not they had received some of the $150 billion of

The Neo-Alchemy of the Federal Reserve

2008-12-01T11:47:00.000-08:00

By Ron PaulTexas Straight TalkAs the printing presses for the bailouts run at full speed, those in power are no longer even pretending that the new giveaways will fix our problems. Now that we are used to rewarding failure with taxpayer-funded bailouts, we are being told that this is “just a start,” more funds will inevitably be needed for more industries, and that things would be much worse had

Follow Up: Combat troops on our own soil

2008-12-01T09:44:00.000-08:00

As a follow up on the US stationing combat brigades on our own soil and the legality of such an act:The United States has had a long tradition of frowning on the use of the military for domestic law enforcement purposes, and that finds expression most vividly in what's known as the Posse Comitatus Act, passed in the late 1800s, which, generally speaking, makes it a crime to use the military for

"National Security Team"

2008-12-01T07:39:00.001-08:00

When did the President's Cabinet become known as his "National Security Team?"Did I miss the memo?

Like a crackhead in detox...

2008-12-01T07:33:00.001-08:00

...Many Americans may soon be cut off from their addictions.http://www.cnbc.com/id/27993643It looks like the jig is up with consumer credit cards. Many predict that this bubble will be more severe than the housing bubble, and with good reason. Some are already stretched thin with current credit limits, while others rely on them to survive in an economy where jobs are few and far between. What

Rep. Louie Gohmert wants an end to the income tax

2008-12-01T07:23:00.000-08:00

Rep. Louie Gohmert of Texas wants to suspend the income tax in 2009. You don't hear these kinds of proposals often, so it's definitely refreshing. Will it happen? Chances are slim to none, considering every cent of the income tax goes to paying the interest alone on our national debt. With the printing presses working overtime and the national debt balloning by trillions of dollars per month,

Coming to a town near you...military police patrols

2008-12-01T06:59:00.000-08:00

Pentagon to Detail Troops to Bolster Domestic Securityhttp://www.washingtonpost.com/wp-dyn/content/article/2008/11/30/AR2008113002217_pf.htmlIf you aren't aware, the Pentagon has been rounding up uniformed military personnel from around the world to conduct "training exercises" on our own soil under the NORTHCOM command. They have even diverted troops from Iraq. The exercises include "homeland

Poor Citi

2008-12-01T06:49:00.000-08:00

http://www.cnbc.com/id/27992848They are hurting so bad that they just spent 10 billion dollars to buy a random Spanish highway company. Where did that money come from? Hmm....I wonder.

Peter Schiff on Bloomberg

2008-11-30T12:52:00.000-08:00

Here are two videos from Peter Schiff's recent appearance on Bloomberg. If you're not familiar with Peter Schiff, he is the owner of Euro Pacific Capital. He essentially predicted this economic crisis back in 2006, almost down to the time period. He believes that the dollar system is on the verge of collapse, due to the feverish pace in which the Federal Reserve is basically printing money,

President-elect urged to take up obesity law

2008-11-30T12:09:00.000-08:00

http://www.gulfnews.com/world/U.S.A/10263668.htmlWith the list of unconstitutional bans growing in number by the day, it appears that some are wanting to push the envelope even further. The "think tank" Public Health Advocacy Institute (PHAI) is pushing for President-Elect Obama to institute obesity laws, including increasing taxes on unhealthy food, a ban on advertising of unhealthy food in

A Primer on our Money System

2008-11-30T11:45:00.000-08:00

There are some serious misconceptions about how our money system works in the United States. If you were to ask the ordinary person about the money system their entire lives depend on, most have no idea what actually goes on, as proven by End the Fed's recent protest at Federal Reserve banks across the nation.For this reason, I've compiled a list of my favorite, and well known, videos about how

The Bailout Surge

2008-11-25T09:55:00.000-08:00

By Ron PaulNovember 24, 2008This week the bailout of the Big Three automakers was under heavy consideration in Congress’s lame duck session. I have always opposed government bailouts of private organizations. Back in 1979 Congress had hearings about bailing out Chrysler and I was on record pointing out that these types of policies are foolish and very damaging to the long term economic health of