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 [...]
Entries from February 2009
February 10, 2009
Moral Bankruptcy Causes Economic Collapse
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.
February 10, 2009
What’s the Value of a Promise that Can’t be Kept?
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 [...]
February 1, 2009
Warrant of Attorney
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 [...]
February 1, 2009
Riding the Hyperinflationary Tiger
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 [...]
February 1, 2009
Who’s Gonna Pay?
The January 29th Financial Times reports:
“DAVOS, Switzerland — Even as Congress looks for ways to expand President Obama’s $819 billion stimulus package, the rest of the world is wondering how Washington will pay for it all.
February 1, 2009
Who’s Runnin’ this Economy?
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.”
February 1, 2009
National Emergency Centers or Concentration Camps?
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 [...]
February 1, 2009
Those Who Live by the Leverage, Die by the Leverage
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 [...]
February 1, 2009
Pastor Lindsey Williams Outlines Coming “Economic Calamity”
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 [...]
