OldNavySailor

The Right Reform for the Fed

The author wrote in his last paragraph:

"Better that the Fed should have tough men as leaders, willing to stand up to the politicians and say no, we won’t inflate."

These elitists are not directly accountable to the people and that is the problem. They cleverly "stand up" to the politicians when it serves their interests.

Since the passing of the Federal Reserve Act of 1913, the Fed has worked to debase the U.S. currency thorough inflationary measures. Our money is worth less today than ever before because of the policy of methodically adding more and more fiat money into the economy. The self-serving agenda of "debt is wealth" by the international banking mafia has enslaved the majority of American citizens.

Not only should Congress pass Congressman Ron Paul's bill to audit the Fed (with or without the President's signature), but another mechanism should be created to replace the function of the Federal Reserve as it clearly has failed to protect the value of the people's money.

Wall Street Breakfast: Must-Know News

I second my fellow Alpha Mate's request. We used to receive one email with all the articles we were interested in reading/commenting. The new process is too cumbersome and unwieldy.


On Jul 07 10:21 AM axelrod608 wrote:

> PLEASE return to the old format listing SA articles.

Starve the Economic Beast, Part 3

Another truthful article on the insidious collusion between government kleptocrats and the international banking elitists to steal our wealth, property and freedoms. Thank you again, by Mr. Quinn.

As I responded in my post on May 25 (see: seekingalpha.com/user/...) we CAN defeat this corruption by taking away what is more precious to them then their immoral souls; their worthless fiat paper money.

We possess the power and conviction to turn our economic ship away from the disastrous waves of inflation and back towards the calmer seas of fiscal prudence and prosperity. The American people must be awakened and the only way is for authors such as James Quinn to keep hitting the public with the facts about the illusion of 'government knows best'.

Take out that piece of plastic from your wallet and set it down on the kitchen table; look at it. What do you see? Is it a measure of purchasing convenience or is it something more? In reality, it is a monstrous vehicle that has been unleashed upon the public to lure you into the realm of fictitious wealth.

I have eliminated credit card dependence by using cash, pay for online products through EFT (electronic funds transfer) and applying for and receive small, short term loans when needed from my local credit union. I am in control of my fiscal house and you must be as well.

The great journey of economic liberty starts with one step, one proclamation of freedom from debt, one act of defiance. This is war; a just conflict against the tyranny of exploitation by an illegal authority whose sole purpose is to enslave people through financial obligation.

Take that first step my fellow Alpha Mates and be free.

No State Prosperity = No National Prosperity

Here in New York, the teachers' union continues to exert its political influence on the political elitists who accept campaign bribes to stay in office.

700 teachers are paid their full salaries while they wait for administrative hearings on the merits of their dismissal from the schools. This union concession is costing New York taxpayers $65 million fiat dollars per year (see the following article
www.huffingtonpost.com... )

Ain't socialism grand!!

11 Risks Threatening the World Economy

I suggest adding number 12: "Rise in government spending"

How is government going to pay for all these new and temporary public projects? By adding the unproductive burden of taxation and regulation onto the backs of the wealthy, large and small business and the taxpayers.

Government's contribution to the economy by means of spurious monetary growth creates a false illusion of fleeting prosperity that cannot be sustained.

The Undefinable, Unstoppable Bull Market of 2009

You write like Bob Chapman, a great friend of free market capitalism!


On May 31 11:02 AM Burticus wrote:

> The spike in stocks in the last hour of the month is an obvious tape-painting
> exercise by the FedGov plunge protection team and their bankster
> cartel masters. Gubmint intervention and manipulation in FOREX,
> commodity, bond and stock markets has now become routing. Nobody
> and nothing paper/electronic can be trusted any more and no technical
> or fundamental analysis can be relied upon without considering the
> missing PPT internention piece of the puzzle.
>
> Following the massive decline in stocks through November and again
> in March, a "dead cat bounce" or bear rally is no surprise. They
> happened repeatedly in the first depression. Clearly, the current
> rally in stocks is not supported by any fundamentals, since the only
> good news these days is less-horrible news. There is not one positive
> fundamental economic or financial trend, except that the Asians may
> finally accept and take their dollar-paper lickin' and throw the
> western millstone off their necks.
>
> The missing piece of the bear/suckers' rally puzzle is the Illuminist
> plan for Big Sting II - completing the destruction and looting of
> Amerika and crushing its middle class in preparation for global political,
> social and economic control. Use the media propaganda machine, gubmint
> manipulation and Goldman/JP Morgan gangsters to pump up the Dow to
> 10,000. Lure the unwitting sucker-dupe sheeple (who actually work
> for their money and try save it by investing) into the market, allowing
> the insiders dump their paper in opaque OTC markets. Accelerate
> out-of-control gubmint spending and central bankster money-printing
> to doom the dollar, Treasuries and the broader bond market, closing
> off the sheeples' usual escape route. When the stock market is high
> enough, the bankster cartel will give the nod to their puppets in
> the Fed, gubmint and media, short everything, and send the stock
> market to new lows, plucking the chickens again on the way down.
> When there is widespread capitulation and blood in the streets, the
> insiders will buy up everything real, especially gold and silver
> (which will go on a moon-shot), companies at pennies on the dollar
> and farmland.
>
> Welcome to a fascist/socialist/comm... economic system under an political
> oligarchy by the elephant/jackass party! Sure, traders with good
> information and quick reflexes can profit in this type of market,
> but for your average working stiff, the only no-brainer safe investment
> will be physical gold and silver.
>
> Disclosure: Long physical silver & gold, CEF, steel & lead,
> non-perishable food and hangin' rope

The Federal Reserve Has Failed Its Economic Mission

"No matter how bankers see it, banks are not the economy."

How true the author writes.

Debt is not wealth; it is the sword of enslavement and poverty unleashed upon the people. Instead of worrying about banks and their ever expanding insolvency, the President should be meeting with small and medium size businesses across America and getting their input.

The full faith and credit of the United States is based upon the real productive capacity of business and the free markets, not the illusion spewed forth by the debt peddlers.

What's Missing from Geithner's Plan? Public Participation

monday1929, you are so correct.

Have you noticed how the word "toxic" is being morphed into the word "legacy"? This is propaganda media speak to get the American people to believe their money (i.e., our money) will receive a "return" on investment.

The truth is that banks are in trouble because the highly leveraged and speculative non-performing assets (i.e., "toxic") they hold have lost their value for two reasons. Mortgages are not being paid by homeowners due to loss of income/employment or because they have walked away from their promissory note of repayment due to market devaluation. Banks are not in the business of hold homes on their books and are losing money. They don't want to hold the collateral until the market is reset upwards, which could be years.

Since the banking industry wields a lot of political power via bribes (oops, I meant "campaign contributions") they have created this illusion of "value" to be sold as a solution to one of the reasons for our economic crisis. These assets are non-performing meaning the underlying promissory note is close to default or in arrears. Why would you want to invest in them? I wouldn't! But a large investor might want to do so if there is enough low risk leverage offered in the form of a taxpayer subsidy.

The bottom line is the government is undermining the wealth of every citizen by committing treasury money to bailout the private sector. It is treasonous!



On Mar 26 09:08 AM monday1929 wrote:

> The program is another CRIME, pure and simple. Sometimes we analyze
> too much. The program, as almost all the others, is simply a way
> to funnel money to the favored Banks.
> How much will Americans take? Do the politicians realize how close
> they are to losing control? Will Americans be willing to fight to
> regain their own Country?
> What would George Washington do????

When America Ruled the World (Part 2)

More words of encouragement for independent action by Mr. Quinn. Thank you.

The author suggests we stop using credit cards. It’s really not that difficult to do. I used to spend about $10,000 per year on credit card charges, not a lot compared to other household budgets. I always paid the balance in full each month and therefore incurred no interest debt. My previous thinking was to keep the cash in my credit union savings account to earn interest and also had free use of the credit float for 20 something days. Last year I gave up the convenience of plastic in exchange for freedom. I declared war upon Citibank and Chase bank.

Does everyone know what war is, beyond the normal definition of armed conflict? It also means a condition of active antagonism or contention. A concerted campaign to combat or put an end to something considered injurious.

Well, I made personal war against these large credit institutions that are “too big to fail”. I ‘m keeping my credit cards and not using them, effectively an account of zero balance. If I need to make a large purchase on credit I get a small personal loan at my credit union and pay it off in a reasonable time. Last year I borrowed $1,000 for thirty days. It cost me $9.00, a sum of less than 1 percent of principal. This is my chosen weapon of war against these leviathan banking thugs. For those who have the means to resist the “drug” of credit, by all means please do so. It will be a breath of fresh air.

My fellow free market capitalists; I speak to you who give your time and intellect daily on all manner of discourse regarding investment and wealth. We need more men like Mr. Quinn to extol the virtue of freedom from the tyranny of government abuse. The lack of colonial representation in the English system of rule is what planted the seeds of discontent that led to the American Revolution for liberty and justice.

It’s happening again; the debt yoke of oppression is hanging over our heads, our neighbors, and our progeny’s future. It is occurring because our representation in Washington has been stolen from us. The abdication of the solemn oath of office by those we elected to guard the nation’s sovereignty and treasure. These plutocrats have created a kakistocracy to serve their real masters.

All hail the bankers; the creators of false wealth to truss up the masses! All hail the two-faced political parties, minions of the bankers!

This web site is the modern day tavern where men gather to converse on topics that affect their livelihoods, the retention of their property and their hard earned prosperity. We definitely must take measured steps to fight back against this tide of despotism that is deliberately driving the country into poverty by the coerced accumulation of financial obligation. To reject the thought that we cannot overcome this corruption is to refute and deny our rights of existence as Americans.

My parents came to America from Sicily to seek out a better life. They worked hard, saved their money and prospered. I dare say many of you who are reading this missive at this moment, also came from ancestry who sought peace, freedom and escape from the chains of debt enslavement. Shall you dishonor their memory of pursuing happiness for themselves and you, their children? Are you willing to allow this to happen to your children? What says this of us as a people and what we’ve become?

We absolutely must think and act in some quantifiable means to throw off the shackles of monetary indenture. We must not let our markets become a cesspool of manipulation, rigged by shadow elitists. Our personal inalienable rights are the nexus of our freedoms. So must our markets be free and unfettered, to buy and sell at whatever agreed upon price.

Freedom and independence doesn’t begin like a volcano. It starts off by simmering with the fuel of passion and conviction. One by one, it gathers and shapes itself into a storm of resolution that renounces totalitarianism. It is the medium of free men. I choose to be free. You must as well.

Why We Need the Stimulus Package

In a consumer economy, employment is the key to recovery. Despite the government's attempt to "stimulate" lending, it's all about employment.

The best way to reinvigorate the economy is for government to REDUCE spending, REDUCE burdensome regulation and LOWER taxes on large and small business. This will make the USA the most attractive place to operate which will encourage borrowing and ultimately increase employment. There is plenty of capital in the private sector to lend, if the government would just get out of the way and let mother market work her mojo.

Wall Street Breakfast: Must-Know News

These insolvent financial institutions are a gangrene on the health of the economic body. Any competent surgeon knows the only recourse is to cut our the poison less the entire body will die.

Lesson from Sweden: Aggregator Bank Will Fail

Our problem is that most of the custodians of our treasury (U.S. Congress) are too stupid to comprehend how capitalism works. They're more concerned with political posturing and pandering for votes than acting in the best interests of the American people.

What is the difference between the two major parties? NOTHING!

So why do we continually re-elect them?

Orwellian Finance: Is 1984 Happening in 2009?

Thank you, Mr. Quinn for an excellent article that pulls back the curtain of secrecy about the growing usurpation of our freedoms and wealth.

People tend to shy away from the truth behind political corruption because it indirectly implicates those that support one of the two major parties (e.g., "oh, I'm a Republican or I'm a Democrat").

Why do people fain allegiance to party dogma? Is the "party" even mentioned in our Constitution? No, it isn't; yet people feel compelled to align themselves with a political creed.

Political ideology is like a game of three card Monte where the politician (the “outside man”) works to fool the “mark” (the American people) into thinking they can benefit from party loyalty (the “inside man”) to gain prosperity for themselves. The reality of this confidence ruse is the people are relieved of their hard earned money through the collusive efforts of the party leaders and their ideological minions who the people elect into office time and time again.

Wall Street Breakfast: Must-Know News

They just don't get it. Not the money lenders, not Congress, not the media.

The Federal Reserve cartel thinks that liquidity is the problem; that reducing borrowing rates of interest for banks and printing more money will induce banks to start lending again. Businesses will be able to finance their operations and consumer credit lines will open up so Mary and Joe can begin purchasing imported goods again. But it still comes down to the average citizen and the reality of their pocket books.

The American people may not be sophisticated when it comes to arcane financial discussion, but they do have a sense of impending strife at the personal level.

They look at their earned income, their monthly bills, their check book and for homeowners, their shrinking home equity lines of credit. They see the deteriorating value of their financial investments and they are reducing their exposure by selling their stocks, bonds, mutual funds, etc. to raise cash. They are not going to spend much beyond their capability to repay because they're beginning to understand how the debt economy works and their individual role in this ruse of a monetary shell game.

Layoffs and pay reductions are accelerating, which means people have less disposable income. Local, state and the federal government income and property tax revenues are shrinking as well.

This economic debacle will not end by printing more money. It will not end with taxpayer stimulus packages. It will not end with government forcing the lowering of mortgage interest. It will not end with selling more debt to other countries. It will not end by making more credit available to citizens.

It will only turnaround when government understands that a consumer economy works when people have sufficient earned and investment income to participate as capitalists. Washington must stop listening to the creators of debt and start listening to the builders of wealth.

Government must focus on reducing business taxes and burdensome regulation to induce a re-growth of manufacturing here in the U.S. It is imperative that energy be directed towards marketing America as the global center of commerce. Jobs will grow, banks will have an increase in demand deposits which means more money to loan; people will begin spending again and so on and so on.

Again, it’s all about putting people back to work to create wealth, not about the availability of debt.

Our Coming Depression

I agree with everything written in this article. Mr. Quinn has written an accurate rendition of the historical opera of the 1929 - 1939 economic depression. No one can deny the similarities between then and now. How did the U.S. emerge from economic catastrophe?

Massive spending by the government in lucrative contracts for business to build up military armaments for world war II is often cited as the genesis of the economic turnaround. The war effort put people back to work. But war was not needed to end the depression. The reality was the repeal of highly restrictive global tariffs (e.g., Smoot-Hawley in the U.S.) which stifled international trade would have been enough to turn the economy back around.

Is a new world war the solution? No, putting the American people back to work is the only answer.

Business needs capital to fund new enterprises, new channels of growth, new manufacturing here in the U.S. They need a financial incentive to rebuild the economy in the U.S. instead of seeking lower cost labor markets elsewhere in the world. There are many federal/state regulations that do not impact worker safety or the environment that can be scaled back to encourage a resurgence of capitalism back on American soil.

The American people need to work to generate income to pay their debts and build up cash reserves. I believe they are learning to understand that 'debt equity' is a myth and unsustainable.

In order to work they need affordable educational opportunities. Institutions of higher education must reduce the huge financial burden put upon our young people through excessive increases in costs for tuition, books, room and board, etc. The corporate profit model adopted by academia must be scaled back as it has contributed to the knowledge bankruptcy of America’s youth.

Labor unions need to re-think their role in this picture. They will have to make changes as their demands on business for excessive compensation and benefits cannot continue as it drives employers away from the U.S.

Broadcast media must contribute their share to rebuilding the economy as well. They must return to the independence of journalistic integrity instead of acting as corporate sock puppet propaganda machines.

Unfortunately because the fascist corporatists control Washington, we will see more government intervention that will only protract and deepen the current recession. Instead of government reducing spending and shrinking in size, they will expand their power and control over the economy. The TARP act is a perfect example of how corporations have beguiled Congress with fear if they didn’t spend more of the people’s wealth.

We, the American people have to act politically. This is our only hope short of armed rebellion. The two party duopoly of Democrat and Republican ideals no longer serves the people. Keep in mind that party affiliation is not what this country was founded upon. The American republic was created to escape the oppression of abusive government.

Vote out the incumbents who represent corporate agendas and not your interests. If your congressional representative voted for the bailout, vote against him or her. Pick a third party candidate whose platform is close to what you and your family believe in.

Be your own hero.