The “U.S. National Debt Clock” (http://www.brilling.com/debt_clock) reports that as of today (June 12th) the “Outstanding Public Debt” was about $11.4 trillion. When divided by the U.S. population, this works out to $37,000 for every American man, woman, and child. Given that the U.S. per capita income is about $39,000 per year, the previous national debt [...]
Entries Tagged as ‘Gold & Silver Coin’
April 19, 2009
Legal Tender Treason
Article 3 Section 3 Clause 1 of The Constitution of the United States declares in part,
“Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort.”
Surprisingly, to understand the meaning of “treason” we must first understand the meaning of the [...]
March 8, 2009
“Global Systemic Geopolitical Dislocation”?
“GEAB” is a European think-tank that’s followed the U.S. and global economic crises for some time, and offered analyses that are credible and, so far, accurate. On February 24th, GEAB published “Global Systemic Geopolitical Dislocation” which, of course, inspired my comments:
February 15, 2009
The First Electronic Bank Run
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 [...]
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 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 [...]
January 31, 2009
It’s simple: Sell Paper; Buy Gold
When Iceland went bankrupt in A.D. 2008, the news seemed “odd”. Although, technically, Iceland was a western “nation,” it was such a small “nation” that it was hardly a “nation” at all. Compared to the U.S., Iceland was more like a county, a municipality or a village than a “nation”. Therefore, while Iceland’s bankruptcy was [...]
January 13, 2009
Comparative Investments
The average American who invested in the stock market on January 2nd, A.D. 2008, lost 38% of his investment by December 31st, A.D. 2008. In other words, if you’d invested $10,000 in stocks at the beginning of A.D. 2008, by the end, your investment would be worth only $6,200.
January 13, 2009
Ecuador Defaults & Currency Devaluation
On December 12th, Bloomberg.com reported:
“Dec. 12 (Bloomberg) — Ecuadorean President Rafael Correa halted payment on foreign bonds he calls “illegal” and “illegitimate,” putting the South American country in default for a second time in a decade. As a result, the $510 million bonds due in 2012 plunged to 23 cents on the dollar from 31 yesterday [...]
January 12, 2009
Introduction to the “Right of Association”
This is BIG.
According to at least one Supreme Court case, the “right of association” can even trump National Security interests. In other words, if the U.S. Supreme Court is called upon to balance the “right of association” against governmental interests in National Security, the private “right of association” can win. The “right of association” can [...]
