Snyder ~ On The Wrong Track: This Is What An Imploding Economy Looks Like!

One of the main reasons why Americans are in such a foul mood right now is because the economy is in really bad shape and it just keeps getting worse. This is very good news for the Trump campaign, because most Americans don’t want things to remain the same.

A desire for change is in the air, but our economy is unraveling so rapidly that it won’t be easy for anyone to turn things around. We have built up a tremendous amount of momentum in the wrong direction, and it appears that the months ahead are not going to be pleasant. Continue reading

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Smith: How the Bankers Outfoxed the Politicians

Since the job that was actually assigned to [the Fed] by Congressman Carter Glass back in 1913 is now vestigial and long gone, and the financial system has been flooded with massive liquidity for decades on end, it might well be time to declare victory and let the free market take care of jobs, growth, inflation and prosperity. ~ David Stockman

Blow it Outcher…

Let’s take a closer look at the job Congressman Carter Glass assigned to the government’s new central bank, the Federal Reserve System, created by the Federal Reserve Act of 1913.

The first thing to notice is it’s a creature of government, not the market, otherwise there would be no need to support the Fed with a legislative act, which gave it the status of a state-backed cartel.

It’s crucial to understand that the push for central banking was part of the Progressive Era feature of business partnering with government in its war against competition. Mergers on the free market had failed for various reasons, including internal conflicts among members, challenges from new entrants in the market, and new competing markets altogether, such as the new motor vehicle industry that emerged in 1893 and by 1895 saw “thirty American manufacturers producing 2,500 motor vehicles.” Continue reading

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Government Payments Become Fastest Growing Source of Income

Of all government assistance payments in 2022, 56 percent went to the elderly, mostly for Medicare

Payments from the government have become the fastest-growing source of income for Americans, according to a new study.

A report by the Economic Innovation Group (EIG), a public policy research organization, titled “The Great Transfer-mation,” states that Americans have become substantially more dependent on government support, with the share of national income coming from transfer payments more than doubling over the past 50 years. Continue reading

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Paper Gold Ain’t As Good As The Real Thing

February 14, 2014 ~ For the first time ever, the majority of Americans are scared of their own federal government. A Pew Research poll found that 53% of Americans think the government threatens their personal rights and freedoms.

Americans aren’t wild about the government’s currency either. Instead of holding dollars and other financial assets, investors are storing wealth in art, wine, and antique cars. The Economist reported in November, “This buying binge… is growing distrust of financial assets.” Continue reading

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Hjalmar Schacht: Where Was the Gold?

NOTE: As has been known by me for many years, Herr Schacht was an ancestor of the Editor/Publisher’s tax attorney and accountant, Raymond Schacht of New York. (Ed.)

Hjalmar Horace Greeley Schacht

July 22, 2012 ~ I am an avid reader of monetary history. Of late I have been focusing on the monetary events of the 1920s and 1930s. By learning from the maelstrom that riled the global financial scene during those two tumultuous decades, I aim to better understand present circumstances because there are many similarities between then and now.

I’’ve just finished a fascinating book published in 1955 entitled Confessions of The Old Wizard. It is the autobiography of Hjalmar Horace Greeley Schacht, whose improbable name reflects his North Schleswig ancestry and his father’s admiration of an American newspaper editor. Continue reading

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If ‘THEY‘ Build it – Will You Come?

Originally published on July 27, 2012

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Mask of Dimitrios

“For money, some men will allow the innocent to hang. They will turn traitor… they will lie, cheat, steal and they will kill. They appear brilliant, charming and generous! But they are deadly! Such are men as Dimitrios.”

Americans, living in what is called the richest nation on earth, seem always to be short of money. Wives are working in unprecedented numbers, husbands hope for overtime hours to earn more, or take part-time jobs evenings and weekends, children look for odd jobs for spending money, the family debt climbs higher, and psychologists say one of the biggest causes of family quarrels and breakups is “arguments over money.” Much of this trouble can be traced to our present “debt-money” system.

Too few Americans realize why Christian Statesmen wrote into Article I of the U.S. Constitution: Congress shall have the Power to Coin Money and Regulate the Value Thereof.

What went wrong? (Continue…)

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Thomas Paine on Paper Money

I remember a German farmer expressing as much in a few words as the whole subject requires; “money is money, and paper is paper.”

All the invention of man cannot make them otherwise. The alchemist may cease his labors, and the hunter after the philosopher’s stone go to rest, if paper can be metamorphosed into gold and silver, or made to answer the same purpose in all cases.

Gold and silver are the emissions of nature: paper is the emission of art. The value of gold and silver is ascertained by the quantity which nature has made in the earth. We cannot make that quantity more or less than it is, and therefore the value being dependent upon the quantity, depends not on man. Man has no share in making gold or silver; all that his labors and ingenuity can accomplish is, to collect it from the mine, refine it for use and give it an impression, or stamp it into coin. (Continue to full warnings…)

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We’ve Become A Nation Of Takers, Not Makers

“C’mon T.C. – let’s git the gold out their teeth!”

April 11, 2011 ~ More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined.

If you want to understand better why so many states – from New York to Wisconsin to California – are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). Continue reading

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Borrowing From Peter to Pay Paul…

…The Wall Street Ponzi Scheme Called Fractional Reserve Banking

He Madeoff with da Monee!

December 12, 2019 ~ Bernie Madoff showed us how it was done: you induce many investors to invest their money, promising steady above-market returns; and you deliver – at least on paper. When your clients check their accounts, they see that their investments have indeed increased by the promised amount. Anyone who opts to pull out of the game is paid promptly and in full. You can afford to pay because most players stay in, and new players are constantly coming in to replace those who drop out. The players who drop out are simply paid with the money coming in from new recruits. The scheme works until the market turns and many players want their money back at once. Then it’s game over: you have to admit that you don’t have the funds, and you are probably looking at jail time. Continue reading

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