Posted 9/19/2007 05:28:00 PM by Douglas

Great video of Greenspan on The Daily Show. It's almost like Jon gets it. Greenspan, as usual, explains how the stranglehold the Fed has had on our (read: your) money for the past 90 years really is government intervention of a free market economy, but aw shucks, we're just trying to help.
Fucking thieves.

Labels: Federal reserve

Posted 3/21/2007 11:24:00 PM by Douglas

Another interesting video about how the Federal Reserve is screwing you out of all the money you've saved for yourself to finance their stupid war(s). It kinda starts out slow (is there anyone that doesn't understand the 'barter system' that can use a keyboard?) but gets more interesting as the United States central bank gets firmly established in 1913, and as the gold standard is totally eroded because (surprise!) the government can't borrow enough money for wars without devaluing our (your) currency to pay for them.

So pay off those credit cards and sleep tight, America. Think of all the fun you'll have spending that $100,000 that cost you $1Million to save!

[Thanks, long-time reader!]

Labels: Federal reserve

Posted 2/18/2007 05:30:00 PM by Douglas

Fascinating article from the Honorable Ron Paul on the dangers of our fiat dollar. There's only one way for our government to pay for everything: Inflation.

A country that is getting poorer cannot pay these bills with higher taxation nor can they find enough excess funds for the people to loan to the government. The only recourse is for the Federal Reserve to accommodate and monetize the federal debt, and that, of course, is inflation.

The Fed is going to run the presses non-stop to pay for the war, so if you've got any money in the bank, maybe you should consider getting hip-deep in debt. It's the only way to keep from getting the last digit knocked off your savings by poor policy. Of course, Mr. Ford is correct:

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." — Henry Ford

Sad, but true.

Labels: Federal reserve

Posted 8/27/2004 08:20:00 PM by Douglas

Say, we haven't had double-digit inflation in a while. Don't you 'spose it's about time? Alan Greenspan does, because he knows there's no way in hell that the U.S. Government is going to renege on Social Security payments for the 800 Kazillion Baby Boomers that are reaching retirement age. Social Security, the longest running state-sanctioned pyramid scheme is set to cavitate in 2010, when the first of the Boomers hit 65.

Federal Reserve Chairman Alan Greenspan said Friday the country will face "abrupt and painful" choices unless Congress acts quickly to trim Social Security and Medicare benefits for the baby boom generation. He said the government has promised more than it can deliver.

What?!? The government has promised more than it can deliver? Well whoever heard of that happening before??? Damn you!!! DAMN YOU, FDR!!!!!

Seriously, I'm sure they never thought it'd come to this, but it has. Now what? People my age are paying into the system with absolutely NO expectation of ever getting it back, at the same time the Boomers are all retiring and clamoring about reductions in their service. What a pickle this is, eh?

"We owe it to our retirees to promise only the benefits that can be delivered," he said. "If we have promised more than our economy has the ability to deliver ... as I fear we may have, we must recalibrate our public programs so that pending retirees have time to adjust through other channels."

Ka-chunk, Ka-chunk. . . hear that? That's the sound of the Treasury Department firing up the printing presses for some overtime to make more money to pay for the Boomer's SS benefits. That's the only place that this kind of money can come from, and considering what's at stake, they can't afford not to inflate the currency to provide stability.

I can only hope I'm hip deep in debt at that time, or else heavily vested in the precious metals. . . steel, brass & lead, or gold. Whatever works.

Labels: Federal reserve