“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.” ~ Frédéric Bastiat, French economist
March 1, 2020 ~ Let’s talk numbers, shall we?
The national debt (the amount the federal government has borrowed over the years and must pay back) is $23 trillion (NOW $36 TRILLION) and growing. Continue reading
January 18, 2008 ~ Gold is a valuable thing to store. However, it is not a store of value.
Gold has intrinsic properties that make it valuable. However, it does not have intrinsic value.
I mention this, because, at some point, you will read about gold as a store of value. You will read of gold’s intrinsic value. Every time you read either of these phrases, you will know that the author does not understand economic theory.
Consider this. The price of gold has moved above $1400 an ounce in recent days, up from the low $1300’s. Presumably, this has been in response to the turmoil in Libya, which has reduced the immediate supply of oil. The rising price of gold indicates the possibility of continuing turmoil in the Arab world.
These fluctuations in the price of gold indicate that immediate changes in external circumstances can affect the price of gold. There has been an unexpected increase in the demand for gold. Continue reading
December 11, 2013 ~ “If we evaluate an organization’s performance by what it promised when it was created, the Federal Reserve has clearly failed the American people,” is how Murray Sabrin concludes this documentary on the first 100 years of the Fed’s reign. The sad truth, he details, is that “the USD has lost more than 95% of its purcahsing power since the Fed was created and the cost of living has skyrocketed since Nixon severed the last linkage between the USD and gold in 1971.” In short, the revolution of 1913 shifted power from individuals, communities and states to the federal government and its powerful allies in the private sector. Continue reading
The homes did not become more expensive – your work, efforts, talents and the US dollar became WORTHLESS!
November 15, 2017 ~ The United States embraced the principle of a gold standard – a dollar whose value was linked to a defined quantity of gold – from 1789 to 1971, a stretch of 182 years. During this time, the U.S. was the most successful of any major country, expanding from thirteen war-ravaged states along the Atlantic seaboard to a world economic superpower, with the broadest and wealthiest middle class the world had ever seen. The U.S. dollar was the premier international currency, and New York was the world’s financial capital.
If the U.S.’s gold standard policy was a mistake, as nearly all academic economists claim today, shouldn’t there have been some evidence of that, after nearly two centuries? Shouldn’t there have been some kind of negative consequences? Shouldn’t there have been some other government, somewhere, that did even better, with a different approach? Continue reading
Christ Purging the Temple
And the Jews’ Passover was at hand, and Jesus went up to Jerusalem, and found in the temple those that sold oxen and sheep and doves, and the changers of money sitting: And when he had made a scourge of small cords, he drove them all out of the temple, and the sheep, and the oxen; and poured out the changers’ money, and overthrew the tables; And said unto them that sold doves, Take these things hence; make not my Father’s house an house of merchandise. And his disciples remembered that it was written, The zeal of thine house hath eaten me up. ~ John, 2: 13-17
November 7, 2017 ~ The most historic attack in history against the banking elite, was when Jesus the Christ cleared the temple. This was also the only time that the Prince of Peace became enraged, as the money changers took advantage of the poor and faithful. Jesus sought to whip the scheming money changers out of his Father’s Temple. Continue reading
My grandfather was born on April 19, 1915 in a dirty, one-room shack in the town of Bonham, Texas. Given the era, they had no electricity and no running water. And the family considered themselves fortunate that both mother and baby survived childbirth.
Pretty much everyone in the area was a farm laborer; they worked long, hard days in the unforgiving Texas heat trying to beckon life from ungenerous soil. But it was a living– one that my grandfather joined at an early age.
He was 14 years old – considered a “man” by the standards of his time – when the Great Depression struck. Continue reading
Is it just a coincidence that a large number of talking heads in the corporate media have all suddenly decided to start blaming Donald Trump for causing a “recession”? During the four years of the Biden administration those same voices insisted that there was no “recession” on the horizon even though homelessness was setting record high after record high, demand at food banks surged to levels never seen before, inflation was out of control, home sales plunged to extremely depressed levels, stores and restaurants were closing all over the nation and debt levels were breaking records.
Let’s be real. The U.S. economy has been on a downward trajectory for a long time, and that downward trajectory got even steeper in the final stages of the Biden administration. But now we are being told that the economic problems that we are experiencing are happening because Donald Trump is “manufacturing” a recession… Continue reading
