Fresh from writing Wall Street and the Fed’s stranglehold on America, based on A Study of the Federal Reserve and Its Secrets by the legendary Eustace Clarence Mullins, I thought it would be of great value to follow the money (in this case the gold) in the FED’s 1925 scheme to take down the stock market to cast the U.S. into the havoc of the Great Depression. This is all the more to increase the value of Mullins’ book and readers’ awareness of this nefarious act and organization. Continue reading →
Negative job growth for 11 years is the best evidence concerning our economic troubles. There were 135 million jobs in 2000 for a workforce of 144 million. Today, there are 139 million jobs for a workforce of 154 million. That represents negative job growth when you factor in population growth. Continue reading →
Whether it is Europe’s PIGS [Portugal, Italy, Greece, Spain] or the United States of America’s crazies, unlike them all Iceland’s populace chose not to bailout foreign or domestic domination of their would-be banksters. And that is laudable, an existential act of choosing freedom, i.e., life versus financial strangulation under outrageous debt and usurious interest. Continue reading →
After a tense week with world markets teetering on the edge of collapse, Angela Merkle finally met with her French counterpart Nicholas Sarkozy and they ended the seventh month chill in their once cozy relationship. According to The Independent, they faced a serious impasse regarding bank haircuts in the “déjà vu all over again” Greek financial crisis. Continue reading →
Four days before President Obama made the unilateral decision for war with Libya, under the innocuous banner of a humanitarian NATO action to prevent civilian deaths, the African Union met in Ethiopia to discuss Libyan President Muammar Gaddafi’s proposal to unite the African continent with Arab states in a confederation called the United States of Africa. [1] Both our president and the lapdog U.S. press failed to inform the American people why this just might be of interest to them. Continue reading →
Number one, America isn’t broke. The problem is that the top 10 percent of Americans now earn around 50 percent of our national income. If you want a 90 percent figure, here it is. The top 1 percent owns 42.7 percent of all wealth, while the next 19 percent owns 48.4 percent of the wealth. This means the top 20 percent owns 93 percent of the wealth pie and leaves the remaining 80 percent of the population to fight over the remaining 7 percent of the crumbs. Continue reading →
Countries everywhere are facing debt crises today, precipitated by the credit collapse of 2008. Public services are being slashed and public assets are being sold off, in a futile attempt to balance budgets that can’t be balanced because the money supply itself has shrunk. Governments usually get the blame for excessive spending, but governments did not initiate the crisis. The collapse was in the banking system, and in the credit that it is responsible for creating and sustaining. Continue reading →
The war between fiat paper money and precious metals continues as the price of gold keeps going through the roof and the US paper debt-currency submerges. Continue reading →
A game of Russian roulette is being played with the national debt ceiling. Fire the wrong chamber of the gun, and the result could be the second Great Depression. Continue reading →
State bank movement picks up steam
“Ford to New York: Drop Dead,” said a famous headline in 1975. President Ford had declared flatly that he would veto any bill calling for “a federal bail-out of New York City.” What he proposed instead was legislation that would make it easier for the city to go bankrupt. Continue reading →
California is the eighth largest economy in the world, and it has a debt burden to match. It has outstanding general obligation bonds and revenue bonds of $158 billion, largely incurred for infrastructure. Of this tab, $70 billion is just for interest. Over $7 billion of California’s annual budget goes to pay interest on the state’s debt. Continue reading →
“Deficit terrorists” are gutting governments and forcing the privatization of public assets, all in the name of “deficit reduction.” But deficits aren’t actually a bad thing. In today’s monetary scheme, in which most money comes from debt, debt and deficits are actually necessary to have a stable money supply. The public debt is the people’s money. Continue reading →
The ForeclosureGate scandal poses a threat to Wall Street, the big banks, and the political establishment. If the public ever gets a complete picture of the personal, financial, and legal assault on citizens at their most vulnerable, the outrage will be endless. Continue reading →
Well, there’s young Tim again, trim and handsome little devil, as reported in the Washington Post, claiming that even if he uses “’extraordinary measures’ to prevent the United States from defaulting on its obligations, lawmakers will need to raise the legal limit on government borrowing by July 8. Continue reading →
How do the powerful keep the US population dumb and distracted? A key tactic has been using methodologies that produce totally misleading underestimates of key economic factors. First we learned that official unemployment figures are too low by a factor of two. Now, understand that the official rate of inflation hitting consumers is even more inaccurate. You will hear about a low inflation rate of less than 3 percent. In reality, it is closer to 10 percent, according to the highly regarded analysis by John Williams. Continue reading →
The Republican crazies are in a celebrity death match with sleepwalking Democrats. It is a fabricated drama amounting to not much of anything in terms of the nation’s well being. The stakes are supposedly the shutdown of the United States government at midnight this Friday. But the most pressing issue isn’t discussed on Capitol Hill. Continue reading →
Massive economic inequality is killing America and we the people. It has already killed American democracy. The rich have captured the political system so they could manipulate the economy and benefit unfairly. Economic freedom and opportunity are gone. Greed among the top 1 percent has succeeded so well that a true uprising and revolt by Americans, like that seen in Egypt, may be needed to restore America. Continue reading →
Republicans and Democrats have decided to act like grown-ups and agree to make concessions to keep the government up and running until a more permanent resolution can be reached, but the stopgap measure approved will expire on Thursday. Continue reading →
While Congress bickers and the President dithers, roads are crumbling, bridges are failing, dams are cracking, and water and sewer systems are leaking all across the United States. If that’s not enough to worry about, the government is threatening to default on the $2.5 trillion it has borrowed from the Social Security Trust Fund, and few private employers are offering decent retirement plans. Continue reading →
The US government lies. Sure looks like most Americans gobble up false and misleading information that is nothing less than political propaganda. Continue reading →
When an IMF spokeswoman said at a news conference on March 17 that Japan has the financial means to recover from its devastating tsunami, skeptical bloggers wondered what she meant. Was it a polite way of saying, “You’re on your own?” Continue reading →
An obscure clause that was slipped into Ohio’s infamous anti-union Senate Bill 5 may spell the end of collective bargaining for the state’s public college teachers. Continue reading →
There’s a joke making the rounds and it goes like this: Big Business, a Tea Partier and Organized Labor are sitting around a table. A dozen cookies arrive on a plate. Big Business takes 11 of them and says to the Tea Partier, “Pssst! That union guy is trying to steal your cookie!” Continue reading →
Often, economic tracts can be a remedy for insomnia. But What’s Mine Is Yours—The Rise of Collaborative Consumption by Rachel Botsman and Roo Rogers is more than the exception. It’s a highly readable, “hip” if you will, book full of “seeing moments.”According to its publisher, it “explores the rise of new economic models based on shared resources and collective consumption—and [is] the first articulation of a major socioeconomic phenomenon.” It is that and more, and woke up my own thinking about today’s economic paradigms. Continue reading →
As expected, Michael Moore, the Rev. Jesse Jackson, and AFL-CIO president Richard Trumka were in Madison, Wisc., to support and rally the workers in their fight against the union-busting governor and Republican-dominated state legislature. Continue reading →
The American Empire is failing. A number of its puppet rulers are being overthrown by popular protests, and the almighty dollar will not even buy one Swiss franc, one Canadian dollar, or one Australian dollar. Despite the sovereign debt problem that threatens EU members Greece, Ireland, Spain, and Portugal, it requires $1.38 dollars to buy one euro, a new currency that was issued at parity with the US dollar. Continue reading →
Another triumph for The Money Party
The average price for a gallon of gas rose 30 percent from $2.69 in July 2010 to $3.49 as of March 6. Most of that 30 percent has come in just the last few days. Continue reading →
I present herein ‘The Quantum Theory of Money.’ The name is not some silly gimmick; it is meant to illuminate, if I may be so presumptuous. Continue reading →
The announcement on March 4 that 192,000 new jobs were created in February was greeted with a sigh of relief. But the number is just more smoke and mirrors, as I will show shortly. First, let’s pretend the jobs are real. What areas of the economy produced the jobs? Continue reading →
It was Abraham Lincoln who followed his Constitutional right to coin a US currency. President Lincoln created US Greenbacks from 1862–1871, printed by the US mint, delivered to the US Treasury to conduct and pay off the Civil War debt. Yet, after his tragic (if not related) assassination, the country returned and departed again from private banking systems. Continue reading →
The International Monetary Fund (IMF) made an embarrassing error just two days before the start of the Libyan people’s revolution on February 17. This quote from an IMF country study appeared in a previous article: “The outlook for Libya’s economy remains favorable.” IMF Feb 15 This advice was 180 degrees off target. The Libyan economy has ceased functioning as protests and popular demands imploded the Gaddafi regime. Continue reading →
The banks are back! They’re paying out bonuses and raking in profits, we hear. But just how did they bounce back so fast? Continue reading →
