marxbites

Another Brick in the Wall: the GDP, Gold and Silver

Here here Oz !!!!

Lets get us a different govt like Huck Finn said he wanted!!!

Cept now the impotent states are all the same wussies controlled from DC

The Austrians were right before WW1 they saw coming, and have been right ever since. Keynes like Marx are lying bastards - both responsible for most all war deaths of the late 19th and whole 20th century. Especially Stalin's incredible genocides against his own countrymen.

Govt produces nothing. Gives naught to nobody not first stolen from others. Is the worlds single largest consumer and waster of natl resources.

Screw this CFR/NWO/Intl Banking/MICC cabal that JFK & IKE warned us about the perils of.

Ditto on Shadowstats !!

Surprising Call for Return to the Gold Standard

U too rapidtrends and Smarty !!!!!

Viva Mises!!!! Right all along!!!!

Surprising Call for Return to the Gold Standard

Top Gun gets it.

The rest of you are, well... PATHETIC !!!!

Can you idiots READ the Constitution? Read what Jefferson said about banking? Or Madison? Ever read Jackson's VETO of the 2ndBankUS's recharter and WHY he killed the banks?

IF you haven't, (and I know you have not by your words) then you'd know the truth that Govt has kept from us since compulsory education Bismark style began. Arrrrggghhhhh!

mises.org will enlighten you - but only IF you have the intellectual temerity to have yourselves proven dead wrong.

Money came from free markets. Gold and silver were MARKET chosen as having the best qualities for intermediate commodity of exchange, over say ie. salt or grains.

Surprising Call for Return to the Gold Standard

One Huge lunatic you are Mr Hand!!!

> no wonder we are screwed up. if mr. Driscoll thinks that bubbles
> can be prevented by going to a backed currency i have a bridge to
> sell him in brooklyn. i would like to remind Mr. Driscoll we were
> on a gold standard in 1929.

> bubbles are part of capitalism.

#1 Capitalism DOES NOT cause bubbles anywhere close to what Fed & Banker manipulations have. Monetary expansion in the 20's, with a overdone contraction is what torpedoed the market in '29. AND it was done on PURPOSE so bankers could scoop RE for pennies on the dollar among other atrocities.

#2 America may have officially been on the gold std in 29 but the FED was still printing fiat in excess of bullion. The WAR did NOT end the Great Depression as consumption remained flat. It was business finally being able to see a cessation of Govt caused uncertainty in the future.

Go to the Ludwig von Mises Institute and learn ALL about money, banking and the crooked FED who has been robbing American wealth for 100 years with interest and inflation, neither of which burdened the people with a REAL specie currency that is also unmanipulatable by the private bank and their puppet politicians emplaced for bankers and their shills (govt) max profits.

mises.org - free mp3's and video lectures on American history and the Austrian economics that pegged Central Banking and it's created "business cycles" as he warned the world of the rise of the fiat financed Euro-dictators succumbed to Int'l Banker's perpetual indebtedness - AS ALL the World suffers under now.

Hand - you are plainly indoctrinated. Get the education Govt least wants you to have at mises.org

Gold and Silver Are Not Proven Inflation Hedges

I guess Jim Rogers is an idiot then?

Ignore the Hype - Gold as Currency is Dead

Well put Alan !!!

It was MY understanding that widely acceptable commodities made the first good monies in history.

I imagine grains, salt and metals etc. traded very well and were very useful in eliminating the stubling block of dual coincidences of wants in less efficient barter.

Widely accepted monies, were the "fuel" for the advances of division of labor and comparative advantage.

Until the goldsmith / shylocks learned they could loan out money receipts in excess of metals on deposit at interest at a profit, as long as depositors didn't want to redeem all their receipts at once, they remained "solvent", albiet in a manner deemed fraudulent in any other realm of commerce.

They did it to profit off other's money they did not own. These shylocks soon had rulers and kings in their fiat indebtedness worldwide, but with a few exceptions. Most notably the Czars - they didn't want their money controlled by the bankers who wanted in the worst way to control it. Hence the bankers financed the Bolshevik Revolution as well as WW1 they were agitating for as early as 1909!

Bankers ARE the war makers in history. They loan to all sides. Own shares in the merchants of death who supply all sides. And they NEVER fail to cleanup in the reconstructions or fail to loot the best from the vanquished. EVERY war can be traced back to banker machinations.

Bankers alone give money, the world's lifeblood of commerce and advancement, its bad name, for they are allowed to cheat in the realm of money, whenever its controlled by them and the rulers they collude with who sanction them - our lying, cheating, thieving, murdering politicians.

Gold, Silver and Deflation

Gold is a trusted commodity least able to be manipulated by rulers and govts. Over MILLENIA free markets chose it w/o the say so of any authority.

It is the most saleable commodit. When offered gold or paper in payment for a good or service, which would YOU prefer given the choice?

There is ZERO interest expense that we currently pay to the Fed for using our own money, when the people use a money they freely chose to use instead of legal tender at gunpoint of legal govt counterfeiting.

PM monies arose to eliminate the problematic double coincidence of wants that barter generally requires. They are the most trustworthy intermediate mediums of exchange. Harder for govts to debase than printing press inflation, which BOTH reduce buying power of existing money units.

America went to a paper money system only at banker behest precisely to enrich themselves with the gains from inflation they steal by way of the reduced buying power of last users, plus a big fat interest income on every dollar created from nothing. A $0.04 dollar and 100 yrs of 6% interest compounded robbed us all being millionaires ourselves.

THAT has been the opportunity cost of allowing private bankers to print unbacked money in America the same as they'd done to England pre-1700, and why fiat was forbidden in our Constitution. The founders were fully aware of Banker treacheries, they'd lived with the King's!

Countdown of Manipulated Gold Price Running Out

History proves fiat has never succeeded in anything other than what it was designed for and thats debasing the currency - NEVER being in the people's best interests.

From market chosen specie worldwide, to paper money receipts FULLY redeemable in specie, to unredeemable coerced legal tender with zero intrinsic value.

How can ANYONE not see this as the banking ripoff it has always been for millenia?

Shylocks coerce, cheat and steal. 100% reserve banking, loans at market rates due dillengence accesses to the risk. Market set interest rates always self level, the environment being the best as individuals are accessing risk AND taking the financial responsibility for it. Unsocialisd, as is the Declaration's pure intent.

Five generations of Americans have been deprived large portions of their lives work to the Fedl govt.

What would that capital today be worth if it had been allowed to compound intergenerationally since the progressive era began 100 yrs ago instead? Is there even a hesitation to guess we'd all be millionaires at least?

Study these worst Americans at mises.org and get the real picture govt hopes you dont. Insanity trusts the untrustable.

Our Govt has now proven beyond all doubt it massive failure doing what free enterprise was supposed to do all along, UNTIL criminal politicians began using govt to enrich themselves at the people's expense. We are their mere hosts.

Hamilton, Lincoln, Wilson, FDR.......

The REAL truth is we have few Presidents who didn't abuse their oaths of office - every new unconstitutional precedent digging freedom a deeper grave.

Americans must not let this most massive extortion stand. 90% of Americans were against this. And BOTH parties shafted the people.

Ron Paul was the ONLY answer.

Haywood Analysts: Compelling Opportunities Left in Junior Golds

Would that that would be the good ole USA !!!!!!!!

I am listening to Frank, Hoyer in the House right now.

What a criminal government run by banksters and corp elites we have.

"The general spread of the light of science has already laid open
to every view the palpable truth that the mass of mankind has not
been born with saddles on their backs nor a favored few booted
and spurred, ready to ride them legitimately by the grace of God."

--Thomas Jefferson to Roger C. Weightman, 1826

Screw the establishment ONE PARTY system of criminals. The CFR/NWO/Int'l Banking cabal.

Search and read: A CHRONOLOGICAL HISTORY OF THE NEW WORLD ORDER

& "Wall Street, Banks and American Foreign Policy" at lewrockwell.com or mises.org

BOTH those websites are the tonic we indoctrinates of compulsory education need. Rockwell and Mises are resources for history and economics that squash the mealy mouthed apologist court historians that ruling elites commission to keep their criminal control as hidden as possible.

Need Gold? Check Your Fed Holdings

Were there any metals reserves in the WTC's?

How much, any lost? How much recovered?

Just asking. I vaguely remeber hearing something about metals.

Need Gold? Check Your Fed Holdings

The Fed has already inflated 96% of the dollar's purchasing power away for starters.

Add in the $2.20 principle and interest each dollar borrowed into existence from thin air has cost total over 75 years.

Wouldn't all agree the Fed's made enough off the people for doing nothing but rolling the presses?

I say stiff the Fed the entire national debt and confiscate all the gold they stole for collateral, then coin and distrubute that to all Americans in recompense for three generations of robbery, the opportunity cost of which is that we aren't all the millionaires we would have otherwise been with the accumulation of compounding intergenerational wealth !!!

Week in Review: Drama Galore

Bush & Co ???; as criminal as this admin is - it is NOT responsible for what was built by Democrats & done by the FED.

Clinton, Kerry, Gore, McBama ALL work for the same masters; the CFR/NWO/Fed'l Reserve/Int'l Banking cabal.

You know, the conspiratorial cabal that those kidders Wilson, lifelong Democrat cum Rep, IKE, & JFK lamented and warned the people against, the shadow govt of the MICC?

Found this of interest too:

Gerard Jackson
BrookesNews.Com
Monday 22 September 2008

As the financial crisis unfolds Americans have nothing to fear other than Congress. Ignorant politicians helped create this monetary mess and ignorant politicians will make it worse if they are not stopped. John McCain believes that the fault lies with Wall Street's 'unbridled corruption and greed". Treasury Secretary Hank Paulson took a similar line when he announced: "Raw capitalism is dead". For my money the most amusing condemnation came from the ever-so righteous Thomas Frank1 who pompously wrote:

No, this is the conservatives' beloved financial system doing what comes naturally. Freed from the intrusive meddling of government, just as generations of supply-siders and entrepreneurial exuberants demanded it be, the American financial establishment has proceeded to cheat and deceive and beggar itself — and us — to the edge of Armageddon. It is as though Wall Street was run by a troupe of historical re-enactors determined to stage all the classic panics of the 19th century. (Get Your Class War On, Wall Street Journal, 17September 2008)

Apart from once again revealing an utter ignorance of economics, economic history and the history of economic thought — an ignorance that he shares with Republicans — he also exposed — in between whining about nasty Republicans beating up angelic Democrats — his unreasoning hatred of capitalism and a deep seated loathing for defenders of the free market. The last point is important because critics on both sides of the political divide fail dismally to see that the crisis was actually created by a refusal to allow the free market do its work.

Fanny Mae and Freddy Mac were political creations that were run on the basis of political considerations. Yet the brilliant Mr Paulson seriously claims that their collapse is a condemnation of capitalism.

Nevertheless, Republicans have inadvertently found themselves in the favourable position of being able to take the moral high ground. After all, it was the Democrats led by Pelosi, Reid, Barney Frank and Dodd who confounded President Bush's attempt to reform these entities way back in 2005. And it was Democratic hacks that ran Fanny Mae and Freddy Mac in the interest of the Democratic Party, funnelling millions of dollars into the party's coffers while siphoning off scores of millions for themselves. It's also true that the drive by Democrats to force these 'companies' into making loans to people who were not credit worthy damaged their viability. This in itself was a recipe for financial grief.

If incompetence, political corruption and the unadulterated greed of the likes of Franklin Raines, the Clinton-appointed former head of Fannie Mae from 1998 to 2004, were all there is to it, then America would not be facing a financial crisis.

It ought to be clear that the Fanny Mae and Freddy Mac crisis is part of a larger and far more serious economic crisis, one that few economic commentators foresaw. There is nothing new here; financial crises are as old as banking itself. And every single one of these crises that ripped through economies shared the same characteristic irrespective of time or place. They were all preceded by a credit expansion. That is to say, credit unbacked by real savings. In plain English, monetary expansion.

One now hears constant chatter about billions of dollars being lost or spent on rescues. In fact, we have moved from billions to trillions. But one vital question is rarely or ever asked: Where did all this money come from? Answer: the Fed. Since1980 this bastion of monetary stability has expanded the money supply2 by some 700 per cent. And it is this wild monetary policy that fuelled the speculative frenzies of the '80s, '90s and the Bush administration.

Every speculative frenzy that I know off was triggered by a monetary expansion. Although these frenzies obviously require huge amounts of credit to sustain them the economic commentariat still treat them as if they are a form of mania the roots of which are purely psychological. It was not always so. When writing of the "mob mind" that was still running rampant in stock market in 1928-1929 Benjamin M. Anderson summarised a speech made after the crash to New York State Chamber of Commerce

. . . which discussed, among other things, the phenomenon of the mob mind which had been so manifest in the year and a half that had preceded the crash. The speaker made the generalisation, familiar to social psychologists, that the more intense the craze, the higher the type of intellect that succumbs to it. (Benjamin M. Anderson, Economics and the Public Welfare: A Financial and Economic History of the United States 1914-1946, LibertyPress, 1979, p. 203).

The key to starting speculative booms is the rate of interest. By forcing the rate down below the market rate (the rate at which the demand for and supply of capital are equalised) the central bank creates excess credit that expands the demand for assets. If the rate is kept low enough there eventuates a situation where

it becomes impossible to make even the roughest kind of estimate of the probable rise in prices. Insecure sentiment governs the market; as prices continue to soar and profits are easily earned, the movement may rapidly reach fever-point. There is almost no limit to the rise in prices in spite of the fact that credit becomes more and more expensive. But when prices ultimately come to rest, and the prospect of further profits disappears, the credit position is so strained and the rate of interest is so high as immediately to bring about a contrary movement, which proceeding in analogous fashion may rapidly drag down prices even below their normal level3. (Knut Wicksell, Interest & Prices, Sentry Press, New York, N. Y., 1936, p. 98).

There is virtual agreement among economists (the Austrians are the usually the exception) that the money supply should expand at the same rate as output if a deflation is to be avoided. Firstly, it is plain to see that whatever measure of money supply is used, it would be absurd to deny that it has not risen at a far greater rate than output. Then there is the fact that deflation is not defined by falling prices but a contractionary money supply. As the nineteenth century amply demonstrated, falling prices, economic growth and an expanding job market are perfectly compatible. Even Milton Friedman admitted this when he observed that after the Civil War

[T]he price level fell to half its initial level in the course of less than fifteen years and, at the same time, economic growth proceeded at a rapid rate. The one phenomenon was the seedbed of controversy about monetary arrangements that was destined to plague the following decades; the other was a vigorous stage in the continued economic expansion that was destined to raise the United states to the first rank among the nations of the world. And their coincidence casts serious doubts on the validity of the now widely held view that secular price deflation and rapid economic growth are incompatible. (Milton Friedman and Anna J. Schwartz, A Monetary History of the United States 1867–1960, Princeton, N.J.: Princeton University Press, 1971).

Irrespective of what the likes of Frank and Paulson assert the problem is not the market but disequilibrium caused by ill-advised monetary policies that distort the both the capital and price structures. These policies create a myriad of opportunities to exploit unsustainable 'investment' opportunities that will vanish as soon as the central bank applies the monetary brakes, even if it does so slowly. For instance, the recessions of 1980-1982, 1990, 2000, and the 1994 slowdown were all preceded by a reduction in the rate of growth of the money supply.

However, no matter what evidence one presents in defence of the market, the fanatical likes of Thomas Frank will always blame the market and Republicans.

Note: Fears off a 1930s type of depression are totally unfounded. I shall explain why next week.



----------------------...

1. So-called American patriots like Frank, Pelosi, Reid, Biden, Dodd, etce., remind me of Roosevelt, another Democrat who always put his party before his country. Before Roosevelt's inauguration Hoover pleaded with him to cooperate in dealing with the banking crisis in an effort to avert further economic suffering. Roosevelt refused. To ensure that the facts would be correctly reported by history Hoover recorded the incident in his memoirs:

A statement of Rexford G. Tugwell (one of Roosevelt's close advisers) is worth repeating. James Rand, a responsible industrialist, ten days before the inauguration, had telephoned me this statement of Tugwell's as a warning. I confirmed his telephone message in the following letter, as I wanted it in the record:

My dear Mr. Rand:

I beg to acknowledge your telephone message received through Mr Joslin as follows:

"Professor Tugwell, adviser to Franklin D. Roosevelt, had lunch with me. He said they were fully aware of the bank situation and that it would undoubtedly collapse in a few days, which place the responsibility of the collapse in the lap President Hoover. . . ."

When I consider this statement of Professor Tugwell's in connection with the recommendations we have made to the incoming administration, I can say emphatically that . . . [they] would project millions of people into hideous losses for a Roman holiday.

Yours faithfully,

HERBERT HOOVER

Some years afterwards, I asked Ray Moley why Roosevelt refused to cooperate with me in the banking crisis. He wrote to me:

I feel when you asked him on February 18th to cooperate in the banking situation that he either did not realize how serious the situation was or that he preferred to have conditions deteriorate and gain for himself the entire credit for the rescue operation. In any event, his actions during the period from February 18th to March 3d would conform to any such motive on his part. (Herbert Hoover, The Memoirs of Herbert Hoover: The Great Depression 1929-1941, The MacMillan Company: New York, 1952, pp. 214-15).

2. The Austrian definition of money: currency component, all checkable deposits, savings deposits, U. government demand deposits and note balances, demand deposits due to foreign commercial banks, and demand deposits due to foreign official institutions. (Some Austrians exclude savings deposits because they are immediately lent out and are therefore not available on demand.)

The Austrian definition of money is in keeping with Walter Boyd's classic definition:

By the words 'Means of Circulation', 'Circulating Medium', and 'Currency', which are used almost as synonymous terms in this letter, I understand always ready money, whether consisting of Bank Notes or specie, in contradistinction to Bills of Exchange, Navy Bills, Exchequer Bills, or any other negotiable paper, which form no part of the circulating medium, as I have always understood that term. The latter is the Circulator; the former are merely objects of circulation. (Walter Boyd, A Letter to the Right Honourable William Pitt on the Influence of the Stoppage of Issues in Specie at the Bank of England, on the Prices of Provisions, and other Commodities, 2nd edition, T. Gillet, London, 1801, p. 2).

3. Wicksell points out that even if rates are not lifted the speculative frenzy will burn itself out.

Gerard Jackson is Brookesnews' economics editor

Law of Supply & Demand Is Dead for Gold & Silver

Oh Danny Boy......tsk tsk.

The idea is that govt has nothing to do with it.

Without the interest to a special few from debt fiat, Jackson paid off the debt and restored the constitutional money.

That ignorance of the founders knowledge of the Kings BoE and it's problems can be so blatantly displayed is hilarious.

Danny, praytell what may the Maestro ever mean here please?

Alan Greenspan - “Gold and Economic Freedom” 1967
"An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense – perhaps more clearly and subtly than many consistent defenders of laissez-faire – that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other. . . . This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights."

Law of Supply & Demand Is Dead for Gold & Silver

The South primarily lost from inflating their buying power away 2-3x the North's inflation rate.

AIG had bids - they opted for govt. What this Govt just did is about as unAmerican as it gets.

We the people are in for a very rude awakening once power's greed crashes the system and the people revolt, those fema camps will be put to their intended use. I wouldn't doubt all we say here enables those most percieved as threats to the state to be 1st in line for extended vacations. Never doubt our govt is capable of such, it has been done before.

Law of Supply & Demand Is Dead for Gold & Silver

And THAT is the key.

The people actually believe govt is just and necessary when there's never been a time that govts weren't just the ruses of breadcrumbs and circuses for the few to rob the many. We have in spades the elite rule Hamilton always wanted that central banks a la the BoE are central to.

Our founders KNEW THIS well. Elites have retaught the masses otherwise on the masses' dime.

McBama is calling good lil troopers like dlaw to service, Iraq too.