Friday, October 29, 2010
Thursday, October 28, 2010
A Movie That Gets It Right by Jeffrey A. Tucker
A Movie That Gets It Right by Jeffrey A. Tucker
Who are the capitalist folk heroes of our time? The Social Network is a film that celebrates one of the greats, Facebook founder Mark Zuckerberg.
Who are the capitalist folk heroes of our time? The Social Network is a film that celebrates one of the greats, Facebook founder Mark Zuckerberg.
Thursday, October 21, 2010
A lesson from the Prince of Thieves
In times of tyranny and injustice, when law oppresses the people, the outlaw takes his place in history - Robin Hood
Thursday, October 14, 2010
America's Currency Crisis is Now Underway [by National Inflation Assocation]
According to minutes that were just released this week from the Federal Reserve's meeting on September 21st, the Federal Reserve is now trying to figure out ways to boost inflation expectations. The mainstream media is reporting that the Federal Reserve wants to publicly declare their intention to seek a higher inflation rate so that Americans are encouraged to spend more before their money is worth less. Unfortunately, what the mainstream media fails to realize is, not only will their money soon be worth less but it will literally become worthless.
If the Federal Reserve doesn't immediately raise interest rates dramatically, there is serious risk of the current "meltup" turning into hyperinflation before the end of 2012. The Federal Reserve's words can no longer control the present situation. They are saying they want inflation so that when massive inflation does arrive, it appears as though they still have control. With gold up 19% and silver up 38% since NIA's July 28th article "Gold and Silver Capitulation is Near" in which we said, "the big move to the upside (for gold and silver) is right around the corner", it is obvious that the Federal Reserve has completely lost control of inflation and a major currency crisis is already underway.
The world is flooded with excess liquidity of U.S. dollars. Up until now, Americans have been blessed by the fact that the world has been hoarding these dollars, believing they are a safe haven during these uncertain economic times. The world's confidence in the U.S. dollar and strong demand for U.S. treasuries despite the need for the Federal Reserve to monetize our $13.6 trillion national debt will one day be looked back at as the most mysterious paradox of our generation.
The average American today is pouring money into U.S. treasuries. They got crushed when the dot-com bubble collapsed, they got decimated when the Real Estate bubble burst, and now they are loading into dollar-denominated assets. Simultaneously, the Federal Reserve is trying to destroy the purchasing power of the U.S. dollar. The only thing the Federal Reserve should be focused on today is preventing hyperinflation, because hyperinflation always leads to complete societal collapses.
Almost all American investment advisors tell their clients today that government bonds are the "safest investments there are" because they "are backed by the full faith and credit of the government". It is very common for investment advisors to recommend to their clients that they put 25% or more of their assets into U.S. government bonds and keep another 25% of their assets in U.S. dollar cash. Yet, there are almost no investment advisors in existence who recommend to their clients that they put more than 5% of their assets into gold.
Investors who only put 5% of their assets into gold might find that they only retain 5% of their purchasing power in the future. Neither NIA nor its co-founders are investment advisors, but our commentary has consistently highlighted our beliefs that there is no such thing as owning too much gold. NIA believes that individual investors' portfolios should be 100% in assets that will retain or increase in purchasing power during hyperinflation. The only question today that smart investors should be asking themselves is what percentages do I put into physical gold, physical silver, mining stocks, agricultural commodities, etc.
Obama continues to state he will not raise taxes for those earning less than $200,000, yet he is doing absolutely nothing to reduce government spending. With China and Japan getting ready to pull the plug on the U.S. dollar, future U.S. deficit spending will have to be paid for by outright money printing. The price inflation that is ahead as a result of monetary inflation is the absolute worst thing that can happen to middle class Americans. Obama's inflation won't hurt the wealthy as much because the wealthy, if they become educated and act quick enough, can still preserve the purchasing power of their wealth by buying gold and silver.
Obama's plan to reduce our budget deficit from $1.6 trillion today down to $752 billion in 2015 is contingent on 5.58% annual GDP growth and interest rates on our public debt of only 4.1%. The only way we will see 5.58% annual GDP growth is with massive inflation and when inflation spirals out of control, so will interest rates. There is no doubt that our nation's budget deficit come 2015 will be substantially higher than it is today, if our nation survives until then.
Sunday, October 10, 2010
U.S. Wants Broader Internet Wiretap Authority
From press release of September 27, 2010, FoxNews.com:
The Obama administration is developing plans that would require all Internet-based communication services -- such as encrypted BlackBerry e-mail, Facebook, and Skype -- to be capable of complying with federal wiretap orders, according to a report published Monday.
National security officials and federal law enforcement argue their ability to eavesdrop on terror suspects is increasingly "going dark," The New York Times reported, as more communication takes place via Internet services, rather than by traditional telephone.
The bill, which the White House plans to deliver to Congress next year, would require communication service providers be technically capable of intercepting and decrypting messages, raising serious privacy concerns, the Times said.
Look out for a lame duck
As the calendar rushes toward the November 2nd elections, prospects increase for a bloody “lame-duck” session. There is a laundry list of bills stacked up for passage that have not yet made it to the floor for a vote. After the elections, Democrats who lost will have nothing further to lose, and will be eager to get as much of Obama’s radical agenda enacted as possible.
U.S. Religious Knowledge Survey
From a poll performed by the Pew Research Center:
Atheists and agnostics, Jews and Mormons are among the highest-scoring groups on a new survey of religious knowledge, outperforming evangelical Protestants, mainline Protestants and Catholics on questions about the core teachings, history and leading figures of major world religions.
We have this beautiful freedom in this country, but like most, we rarely use it.
And those who do exercise their freedom, do they use it correctly?
12 Ominous Signs For World Financial Markets
From the article:
But it is becoming hard to deny that there are some serious danger signs out there at this point....
#1 Corporate insiders are getting out of the U.S. stock market at an absolutely blinding pace. It is being reported that the ratio of corporate insider selling to corporate insider buying last week was 1,411 to 1, and this week the ratio has soared even higher and is at 2,341 to 1.
#2 Many of the world's wealthiest people are buying absolutely massive quantities of gold right now.
#3 It is being reported that J.P. Morgan is gobbling up the rights to as much physical gold as it possibly can.
#4 The United States Mint has announced that it has run out of 1-ounce, 24-karat American Buffalo gold bullion coins and that it will not be selling any more of them in 2010.
#5 It is becoming increasingly difficult to explain the unusually high option volume that we are witnessing right now.
#6 Some very large investors are making massive bets that the S&P 500 is going to take a serious tumble during the month of October.
#7 On Tuesday, the Bank of Japan shocked world financial markets by cutting interest rates even closer to zero and by setting up a 5 trillion yen quantitative easing fund.
#8 The president of the Federal Reserve Bank of New York and the president of the Federal Reserve Bank of Chicago are both publicly urging the Fed to do much more to stimulate the U.S. economy, including beginning a new round of quantitative easing, even if it means a significant rise in the U.S. inflation rate.
#9 Nobel Prize-winning economist Joseph Stiglitz told reporters on Tuesday that the loose monetary policies of the Federal Reserve and the European Central Bank are throwing the world into "chaos".
#10 At the end of September, federal regulators announced a $30 billion bailout of the U.S. wholesale credit union system.
#11 Bank of America, JPMorgan Chase and GMAC Mortgage have all suspended foreclosures in many U.S. states due to serious concerns about foreclosure procedures. Now, Texas Attorney General Greg Abbott is actually demanding that all mortgage servicing companies in the state of Texas immediately suspend all foreclosures, the selling of foreclosed properties and the eviction of people living in foreclosed properties until they have completed a review of their foreclosure procedures.
#12 Not only that, but Nancy Pelosi and 30 other members of Congress are requesting a federal investigation of the foreclosure practices of U.S. mortgage lenders. Needless to say, this controversy has the potential to turn the entire U.S. mortgage industry into an absolute quagmire.
Wednesday, October 6, 2010
Something About Tax Cuts Or Earnings Or Money Or Something In Recent Economic News
Sarcasm can be so uplifting.
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