U.S. Representative Paul Kanjorski, (Dem. Penn.) was recently interviewed on Washington Journal (see, http://brasschecktv.com/page/559.html ). An irate woman called in to the program and complained bitterly that her utility costs were too high; she couldn’t afford to feed her family; and that she didn’t even make $10 an hour, but she made too much to qualify for food stamps. She seemed infuriated at the Congress for failing to protect the American people from the current economic crisis.
Monthly Archives: February 2009
When a nation’s monetary system is based on mere promises to pay (paper and digital debt instruments) rather than payments (actual production; gold and silver coin), irrational consequences and a virtual “insanity” inevitably follow.
The February 1st New York Times published an article entitled “Big Risks for U.S. in Trying to Value Bad Bank Assets”. This article helps illustrate the insanity that inevitably follows when a nation embraces the lies of a fiat monetary system based on debt instruments (promises to pay) rather than the hard truth of specie (gold and silver coin; actual payments). In essence, the NYTimes article shows the impossible task currently facing gov-co: Devise a way to continue to delude the American people, the world, and even gov-co itself into believing that our fiat money system is based on truth (or even reason) rather than lies.
Everyone’s heard the term “power of attorney”. Some have heard the term “letter of attorney”. But until last week, I’d never heard of the term “warrant of attorney”. “Warrant of attorney” appears in only 26 Supreme Court cases ranging from A.D. 1824 to A.D. 1952. Oddly, the term hasn’t been used by the Supreme Court of the United States for over a half century. That omission, plus the timing, leads me to suspect that a “warrant of attorney” may only apply within the common law and/or within The States of the Union.
Zimbabwe will introduce a Z$100-trillion note, in its latest attempt to keep pace with hyperinflation that has left its once-vibrant economy in tatters. The new $100 000 000 000 000 bill would have been worth about US$300 last Thursday, but the value of the local currency erodes dramatically every day. Just last week, the bank had introduced billion-dollar bills with the same goal, but those notes are no longer large enough to keep up with hyperinflation. The last official estimate put inflation at 231 million percent in July, but outside experts now believe it is many times higher.
The January 29th Financial Times reports:
According to the January 29th Financial Times:
“Air freight accounts for 35 per cent of the value of goods traded internationally and the International Air Transport Association said traffic volumes had fallen by 22.6 per cent year-on-year in December. The airline industry reported an “unprecedented and shocking” plunge in global air cargo traffic.”
A new bill introduced in Congress authorizes the Department of Homeland Security to set up a network of FEMA camp facilities to be used to house U.S. citizens in the event of a national emergency. The National Emergency Centers Act or HR 645 mandates the establishment of “national emergency centers” to be located on military installations for the purpose of to providing “temporary housing, medical, and humanitarian assistance to individuals and families dislocated due to an emergency or major disaster.”
On January 16th, the American Institute for Economic Research reported:
“The fear of price deflation is moving the Federal Reserve in the direction of [openly] establishing an official “inflation target” that would be the goal of monetary policy. The fundamental problem with inflation-targeting is that it is the Fed would be shooting for an annually planned rise in prices and depreciation of the dollar. . . . The inflation rate target most often suggested . . . is around 2 percent per year. . . .”
Pastor Lindsey Williams served as a Chaplin during the construction of the Alaskan oil pipeline. Based on his resulting contacts with the “power elite” in the oil industry, in early A.D. 2008, Pastor Williams correctly predicted that the world price for oil would fall from over $140 per barrel to less than $50 per barrel. Note that Pastor Williams does not speak as a prophet but only as a man privy to “insider” knowledge. Note also that, if Pastor Williams is right, the dramatic gyrations in the price of oil during A.D. 2008 were not caused by free market pressures, but rather, by intentional manipulation by a conspiracy of the “power elite”.