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Archive for September, 2012

America’s vast post-WWII military machine fueled by central bank credit

To some of “us”, the rise of central banking and the rise of total war have many connections.  And while Occupiers target a portion of the problem (Wall St.) they would gladly give more power to the other parts of the problem (The FED and the Government who are the major players).

 of the Mises Institute writes an excellent piece partially echoed by other people who have noted the inter-connectivity between Central Banking, Government and War.

In the article the following points are made…

  • First, they serve as lenders of last resort, which in practice means bailouts for the big financial firms.  The FED does not care about the overall economy except that the financials now comprise nearly 40% of it.  So in a sense they care.
  • Second, they coordinate the inflation of the money supply by establishing a uniform rate at which the banks inflate, thereby making the fractional-reserve banking system less unstable and more consistently profitable than it would be without a central bank (which, by the way, is why the banks themselves always clamor for a central bank).  In other words, the IRS can’t just tack on $10,000 to your tax bill to pay for war.  Instead, they use creeping plunder, theft by stealth, also known as inflation.
  • Finally, they allow governments, via inflation, to finance their operations far more cheaply and surreptitiously than they otherwise could.  By enabling inflation, they enable both war of vote buying (sorry, I mean welfare).

“One can say without exaggeration that inflation is an indispensable means of militarism. Without it, the repercussions of war on welfare (the well-being of a nations citizens, he was not referring to the welfare state) become obvious much more quickly and penetratingly; war weariness would set in much earlier.”  Lugwig von Mises in 1919

Mr. Rockwell makes many very good points such as the governments need to abandon the gold standard and sound money before they go to war or the need for easy credit from central banks to cheaply finance war.  Other important points to consider.

  • Precious metals cannot be created out of thin air, which is why governments chafe at monetary systems based on them.
  • Creating money out of thin air…is preferable for governments  because it removes the constraints of prudence.
  • the process by which the political class siphons resources from society via inflation is far less direct and obvious than in the cases of taxation and borrowing.  The government, banking elite and high financiers continue to live off of the productive labor of the masses while.
  • Central banks, established by the world’s governments, allow those governments to spend more than they receive in taxes.
  • When central banks create money and inject it into the banking system, they serve the purposes of governments by pushing those interest rates back down, thereby concealing the effects of government borrowing.
  • the federal government is in fact able to do the equivalent of printing money and spending it. While everyone else has to acquire resources by spending money they earned in a productive enterprise
  • because the central bank allows the government to conceal the cost of everything it does, it provides an incentive for governments to engage in additional spending in all kinds of areas, not just war.  There “Vision” becomes unconstrained since the money that can be plundered from YOU and the debt can be pawned off on YOU is unlimited.

Read the full article here…

And now that QE3 is “endless”, what do they have planned for the rest of us?

 

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From our over-regulated fascist state…

Why are drive-up ATM’s required to have BRAILLE buttons?

If a blind man does make it to the ATM via cab, I hope that ATM has a Braille layout and configuration of the machine, where the slot is (Upper left, Lower right center then down 10 degrees), where the receipt dispenser is, etc.

I hope the blind man can tell the difference between a $5 and a $20 by smell.

I hope they can send a dynamically configurable Braille message if the ATM is down or at least a loud audio message for the blind hearing impaired.

I hope the blind man pulls out the right credit card.  Or if a democrat, he pulls out the left one.

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Read something on Mises.org today.  It was a review of Thomas Nagel’s book “Mind and Cosmos”.  The author of the review seems to take the following statement as a given and rather uncritically.

Evolution can account for our attraction to pleasure or aversion to pain.

How so?  How does pain exist in inert matter?  Or pleasure?  And why do we come to value the one and avoid the other?  These things we come to value or despise are far beyond the capacity of matter.  Evolution can’t account for anything.  The naturalist must start with matter and energy.  But if that is all there ever was, is, or will be (to paraphrase Mr. Sagan), evolution cannot even account for the information that is needed to build the micro-machinery to cobble together a bacteria, let alone a metaphysical phenomena such as an impulse of pleasure.

There are more things in heaven and earth …
Than are dreamt of in your philosophy.

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From Gary North’s Tea Party Economist blog…

Watch a cop kill a man for jaywalking

So, the jaywalker panics and starts to run.  The office, in fear for his life from that man RUNNING AWAY FROM HIM, open fires, 7 shots fired hitting the jaywalker 4 times.  One of them fired at close range while the man was down in front of the police officer as he stood over him.

No Police State here, move along, nothing to see. The video is two years old but is just now being released. This is just plain murder.

Click here for the Full Story

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FED policy is to protect the banks, not the economy

Egan-Jones: always one step ahead of the others

Ratings History:
Egan-Jones rating history for United States (Govt of).
9.14.12  AA to AA (-)
4.15.12  AA+ to AA (Negative outlook)
7.16.11  AAA to AA+

Opinion: Should have been done long ago and should be junk status

Soon, the pile on to begin…

http://www.zerohedge.com/news/moodys-warns-1-notch-downgrade-if-bitterly-divided-congress-does-not-begin-cooperate

http://www.bloomberg.com/news/2012-06-07/fitch-repeats-warning-of-u-s-downgrade-in-2013-reuters-says.html

http://www.businessweek.com/news/2012-02-08/u-s-faces-s-p-downgrade-again-if-no-budget-plan-chambers-says.html

While CONgress ignores the wisdom of the founding fathers and spends more money recklessly…

http://www.bloomberg.com/news/2012-09-13/uncontested-spending-bill-shows-debt-ceiling-sham-view.html

While the Keynesians running OUR government cannot comprehend the basics of economics…

Supply and Demand vs. Technology Dept.

Economic Laws have their own version of vindictory sanctions

GM losing $40,000+ on every Volt?

http://sacramento.cbslocal.com/2012/09/14/how-much-money-is-gm-losing-on-every-chevy-volt/

http://www.climatespectator.com.au/commentary/ugly-math-gm-volt

http://www.reuters.com/article/2012/09/10/us-generalmotors-autos-volt-idUSBRE88904J20120910

http://reason.com/blog/2012/09/10/is-gm-losing-50000-per-volt

Be assured you won’t see any of it. Only the banks will.

So the FED better keep that money printing up so politicians can buy votes, I mean, so government can subsidize GM and other favored groups, I mean…

http://www.zerohedge.com/news/bofa-sees-fed-assets-surpassing-5-trillion-2015-leading-3350-gold-and-190-crude – but it will happen sooner than they think.

Pleausres will give way to necessities

As FED policy will force commodity prices up (especially food and energy) so we can expect anti-American feelings to strengthen and increase in intensity.  The Government (FED and Treasury) spreads inflation worldwide then sells us and our troops on spreading monetary hegemony, I mean, “democracy”.

http://www.grandforksherald.com/event/article/id/245045/

http://www.crisishq.com/why-prepare/world-war-3-preserving-petrodollar/ – MUST WATCH

While Anti-American hatred grows

http://www.zerohedge.com/news/meanwhile-afghanistan

http://www.zerohedge.com/news/full-summary-latest-anti-american-sentiment

All this going on before the elections with a lot more to come.  But ultimately WE ALL KNOW THE OUTCOME OF THE NOVEMBER ELECTIONS…

Goldman Sachs, J.P. Morgan, BOA, Citigroup, HSBC, etc.

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Scorpions are in league with the US government and big Pharma.

An Arizona woman was stung by a scoprion. She went to the hospital. It gave her two shots. Then it charged her $39,652. Per shot. In Mexico, the same shot costs $100. Then it charged her extra fees for the visit. Total bill: over $83,000. Conclusion: government-regulated health care is not working for patients. It is working great for hospitals.  Click on Image to read full article.

And the point of this is?

The government has a vested interest in ensuring that you are a wage slave for your entire life.  – League of Power

And the propaganda specialists are telling us what? 

The government is the only thing that we all belong to. – DNC, a collection of morons who wish to perpetuate the idiot in chief.

But wait, more non-sequiturs from the morons in our midst…

It’s not acceptable for an American to love his country and not respect its government – Bill Clinton, one of the morons who have governed us.

Is there any wisdom from the other side of the isle? 

My country, right or wrong – from the Neo-Con stupidity sampler on government.

What about good analysis?

The Hippocratic Oath dictates never to do harm to the patient. The central bankers instead take the Hypocritical Oath that dictates to cripple the patient, to drain the blood, to preserve power by tightening the straps, to erode buying power from hard work, and to render life savings a weak shell. – Jim Willie – who is prefect.

Can it be fixed?

Only markets can fix economies but markets have been destroyed – Alasdair Macleod – true enough

And why do we always come back to money?

Because… The love of money is the root of all evil – Jesus the Christ

Conclusion: there are less evil people in Mexico.  LOL

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College grads will have to return to college for a new course.

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