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Butterfly Bernanke: “Ah don’ know nuthin’ ‘bout pricin’ gold, Miz Scarlet”

27 Jul

Bernanke2I recently interviewed Michael T. Snyder on the Financial Survival radio program.  Mr. Snyder is the author of TheEconomicCollapseBlog.com and of a recent novel entitled The Beginning of the End.  He’s an intelligent young man with an enviable education:  B.S. in Commerce from the University of Virginia; a law degree and a Master of Laws of Taxation from the University of Florida.

In the course of the interview Mr. Snyder confided that, ever since he was a young boy, he sought and expected to find teachers who could explain to him how the world really works.  But he never found such teachers at the grade school, junior high, or high school levels.  That didn’t surprise him, but he did expect to find such teachers at the college level.  He didn’t.  He definitely expected to find such teachers at the advanced degree levels for a Juris Doctorate and Master of Tax Laws.  He found no such teachers.

More, in the ten years since he completed his last degree, he’s come to the shocking conclusion that, in the world of economics, no one actually knows what’s going on.  Our economy seems to bump along from one crisis to another and, so far, has seemed to survive—but no one really knows why.

Worse, so long as no one really understands the “why” behind an economy based on fiat currency—no one is truly in control.  There are illusions of economic power, but our government is no more in control than the Wizard of Oz.

I agree with Mr. Snyder. I also suspect that no mortal man really understands how or why the economy continues to function.

If that’s true, then we’re like a troop of monkeys in a Model-T without brakes careening downhill on a mountain road with a driver who doesn’t even understand the connection between the steering wheel and the front tires.  It’ll take a miracle for us to avoid a crash.

 

•  If the idea that no one really understands the economy seems implausible, consider one man who should understand economics—the current Chairman of the Federal Reserve System:

According to Wikipedia, Ben Shalom Bernanke was born 1953.  He was educated at East Elementary, J. V. Martin Junior High, and Dillon High School, where he was class valedictorian.  Since Dillon High School did not teach calculus at the time, Bernanke taught it to himself.  Bernanke scored 1590 out of 1600 on the SAT.

There’s no doubt that Mr. Bernanke was born with an extraordinary intellectual capacity.

Bernanke attended Harvard where he lived in Winthrop House with the future CEO of Goldman Sachs, Lloyd Blankfein and graduated with a Bachelor of Arts in economics summa cum laude in 1975. He received a PhD. in economics from the Massachusetts Institute of Technology in 1979 after completing and defending his dissertation, Long-Term Commitments, Dynamic Optimization, and the Business Cycle. Bernanke’s thesis adviser was the future governor of the Bank of Israel, Stanley Fischer.

Bernanke was a tenured professor of economics at Princeton from 1996 to September 2002. From 2002 until 2005, he was a member of the Board of Governors of the Federal Reserve System.  Bernanke then served as chairman of President George W. Bush’s Council of Economic Advisers before Bush appointed him to be chairman of the U.S. Federal Reserve in A.D. 2006. In A.D. 2010, Bernanke was re-nominated and confirmed for a second term as chairman by President Obama.

Clearly Mr. Bernanke has been well-endowed with extraordinary intellect, education, personal connections and experience.  You might think that—like Karnack the Magnificent (the Johnny Carson mystic and fortune teller)—Mr. Bernanke knows “everything there is to know about economics”.

You might think that Mr. Bernanke is the one “teacher” that Michael Snyder has been looking for—the one man who could teach how the system really works.

If so, you’d be wrong.  Bernanke is almost as confused and bewildered by economics as the rest of us—and he admits it.

•  In A.D. 2011, Bernanke was grilled about gold by Representative Ron Paul.  Representative Paul asked, “Is gold money?” Bernanke answered, “No. It’s a precious metal. . . . It’s an asset.”

 

“Would you say Treasury bills are money?”

“I don’t think they’re money either but they’re a financial asset.”

 Irredeemable fiat-dollars might be “currency”–but they’re not “money”. Unfortunately, Rep. Paul didn’t ask Mr. Bernanke if paper dollars are “money”. It would’ve been fascinating to see if Mr. Bernanke were sufficiently brilliant to define “money” in a way that included paper dollars but excluded physical gold.

In any case, Bernanke’s answer that gold is not “money” contradicts the fact that gold has been the world’s primary “money” for virtually all of the last 3,000 years.   Bernanke’s denial is a little like declaring the Hope Diamond to be nothing but a chunk of crystalline carbon.

How could the extremely-intelligent, highly-educated Mr. Bernanke defy the 3,000 years of history that defines gold as “money” and instead insist that gold is merely a “precious metal”?

Was that denial evidence of Mr. Bernanke’s need to lie our outright ignorance?

 

•  In June of A.D. 2011, Forbes published “Bernanke Admits He’s Clueless On Economy’s Soft Patch”:

 

“Fed Chairman Ben Bernanke admitted that the recovery was weaker than expected and that . . . he was at a loss as to what was causing the soft patch.  . . . Brutally honest, Bernanke admitted that he had no clue what was actually causing the current fragility in the U.S. economic recovery.”

Again, we see evidence the Michael Snyder is right: no one really understands economics and therefore no one is really in control—including the grand-high wizard of economics, Ben Bernanke.

•  According to a July, A.D. 2013 edition of Forbes magazine, “Bernanke Tells Congress: I Don’t Really Understand Gold”:

 

“Fed Chairman was forced to answer questions about gold on Thursday.  Asked about the falling price of gold, which is down nearly 25% this year, Bernanke admitted he doesn’t understand the yellow metal.

“‘No one really understands gold prices,’ Bernanke told the Senate Banking Committee, adding he doesn’t get it either.”

 

Say whut?!

Gold has been at the center of world economics around for several thousand years.  Our current economic system has been only seemingly detached from gold since A.D. 1971—just 42 years ago.  And yet, the guy with the 180 IQ, advanced education, political connections that extend back to the 1970s, and chairman of the world’s most powerful and important central bank for the past seven years . . . the guy who’s been responsible for keeping our economy afloat for the past seven years . . . that guy confesses that he doesn’t understand any more about gold than Butterfly McQueen understood ’bout berthin’ babies..

How  can anyone claim to control or even comprehend our national economy, the global economy, or even economics in general who remains mystified by the subject of gold?  Can any understanding of economics be complete without an understanding of gold?

Again, Michael Snyder appears to have been right.  No one (including Ben Bernanke) really understands how or why the “economy” works—and therefore, no one is truly in control.

 

•  According to Forbes, Bernanke also called gold “an unusual asset” and noted that people hold gold as both “disaster insurance” and as an inflation hedge.  He expressed surprise about keeping gold as an inflation hedge, noting that “movements in gold” don’t predict inflation very well.

Well, it may be that gold can’t predict inflation very well—especially when the price of gold is being manipulated by the kind of men who Bernanke knew as friends at Harvard and MIT and who grew up to be CEO’s for major Wall St. banks and financial institutions.

More, so far as I know, Bernanke didn’t specify whether gold was unable to predict the free market rate of inflation (over 9%) or the “official” rate of inflation (less than 2%) reported by the government and Federal Reserve.

 

“Bernanke took solace in the [recent] marked decline in gold prices, though, suggesting they could reflect diminishing concerns over really bad outcomes.”

 

Bernanke implies that we don’t really need dreary old economists to solve our economic problems (and why would we, if no one really understands economics?).  Instead, Americans can avoid “really bad [economic] outcomes” by simply by diminishing our “concerns” about the economy.

Perhaps all we need to know about economics is summed up in Bob Marley’s song “Don’ worry . . . be happy!”

At minimum, by telling us not to be “concerned,” Mr. Bernanke implies that we, “Pay no attention to the little economist behind the curtain!”

In either case, according to the world’s #1 central banker, all we need do is believe the cheerleaders who tell us that the “recovery” has already begun (or, if not, will certainly begin soon).  We’ll be fine if we just have “confidence” in government and take orders from a group of economists who are completely uncertain as to how the economy will operate without a gold-based monetary system.

 

•  Forbes continued:

 

“Gold has been seen as a store of value for thousands of years.”

And yet, the master-economist, Ben Bernanke, doesn’t understand gold.  How is that possible?

 

“More recently, bullion has become an important financial asset seen by many as a sort of currency that cannot be debased, given its relatively fixed quantity.”

Gold has only “recently become” an “important financial asset”?  Recently?  Really?  And gold is only a “sort of currency”?!

Bunk.

Gold has been recognized as “money” for all but the last 42 of 3,000 years.

It’s our paper, fiat dollars that are clearly not “money” but are at best only “recently” recognized as a “sort of currency.”

 

“Yet it is difficult to pin down the exact logic behind investors’ appetite for the yellow metal.”

What’s so hard to understand about gold?  Those who are capable of logical thought see the fraud that’s inherent in paper, fiat dollars.  Therefore, such people logically seek to protect themselves from the Ponzi-scheme that currently masquerades as our “paper monetary system”.  Not wanting to be defrauded and robbed by their own government and central banks, people buy gold.  That “logic” seems obvious and irrefutable.

Gold is easy.  It’s an expression of distrust in government and/or the economy.  The  more distrustful the government/economy becomes, the more demand there’ll be for gold.

But Bernanke claims to not understand.

 

•  It’s easy to make fun of Mr. Bernanke—and I do.  Even so, my primary intent is not to ridicule.

I respect Bernanke’s candor—especially in light of his difficult position.  If he says something honest that hurts public confidence in the dollar or the economy, there could be adverse economic consequences.  The public knows the economy is unstable so it’s easy to inadvertently “spook the herd” with an inadvertent remark and thereby cause a “stampede”.

But, on the other hand, if Bernanke openly lies to maintain confidence and calm the “herd,” his lies will be discovered and exposed, his credibility will be diminished and the “herd” might still stampede deeper into recession or depression.  The man is caught in a very precarious position wherein he’s darned if he do, and darned if he don’t.  The reason he’s in that position is because no one understands the economy well enough to know what might cause the “herd” to “stampede”.  Everyone is “walking on eggs” because no one understands and no one is really in control.

Still, Bernanke is a grown man who must’ve known what he was getting into when he twice accepted nominations to be Fed chairman.  Therefore, I respect his position, but I don’t have much sympathy for his dilemma.  He got what he wished for and, like Faust, may have come to regret his wish.

My object is to emphasize that no one really knows what’s going on in our economy.  No one is really in control.

On the one hand, a lack of economic control may be viewed as cause for great concern.  Perhaps our condition really is analogous to a pack of monkeys, rolling down a mountain road in a Model-T that has no brakes.  Yes, there’s a monkey behind the steering wheel and he looks authoritative and competent—but there’s a good chance that he has absolutely no idea of how to steer or shift gears.  If so, only a miracle will prevent a crash.

On the other hand, if no one person or one group is really in control of our economy, maybe that’s a blessing.  Maybe we’ve avoided an economic collapse for the past five, ten or twenty years, not because of the efforts of people like Ben Bernanke, but because of their lack of genuine control.  I.e., if Ben & Co. had real control over the economy, maybe they’d have caused a catastrophic depression long before now.

I wouldn’t bet on it, but maybe the reason the economy has remained viable for the past forty years is that, in the absence of absolute control, there are still enough vestiges of “free market” strength at work to keep the economy humming despite all of the government’s and Federal Reserve’s ignorant meddling. If so, the more power government grabs, the more likely we’ll suffer a real crash.

However, for now, it appears more likely that:

1) We have forgotten the nature, advantages and effects of a gold-based monetary system;

2) No one really understands nature and effects of today’s fiat currency and therefore can’t reliably predict the consequences of using more or less fiat dollars;

3) Since fiat currency is constantly changing its value, it becomes almost impossible for anyone to judge whether a particular investment is wise or foolish;

4) Based on the unpredictable value of fiat currency, no one really understands the nature, causes and effects of the current economy;

5) No one is really in control of the economy;

6) Insofar as our economic and monetary systems are highly dependent on public confidence, the inability of anyone to truly control or even understand those systems should diminish public confidence dramatically;

7) As public confidence falls, so will the perceived value of fiat dollars, the strength of our economy and even our nation’s political integrity;

8) In the absence of real understanding and control of our economy and in the absence of public confidence, how will our economy and political system remain intact?

A:  By force.

If the United States is going to hold together as a nation, that integration will be increasingly maintained by the force of stricter government regulations and enforcement by a police state.

Implication:  By adopting a fiat, paper, debt-based currency, we’ve adopted a monetary system that’s inherently irrational, incomprehensible and uncontrollable by conventional economic means.  Because it’s uncontrollable, it’s subject to sudden collapse.  A sudden economic collapse might destroy the nation.  Rather than allow our irrational monetary and economic systems to collapse under the weight of their intrinsic lies—and risk national collapse as a consequence—people in positions of power will increasingly rely on fraud, criminal acts, brute force and finally a police state.

That’s not a prediction.  It’s an observation.  It’s already happening.

“Butterfly McQueen” Bernanke is the natural predecessor for Big Brother.  Government’s inability to control by means of truth and reason will compel government to try to control by force.

There’s a police state in your future that’s a natural consequence of fiat currency.

The kind of “money” that we choose to use will determine our national fate.

Those currently singing “Don’ worry . . . be happy!” may soon be drowned out by those singing “Homeland! Homeland!  Uber alles!”

 

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19 responses to “Butterfly Bernanke: “Ah don’ know nuthin’ ‘bout pricin’ gold, Miz Scarlet”

  1. Jetlag

    July 27, 2013 at 11:26 PM

    Adask said: “How could the extremely-intelligent, highly-educated Mr. Bernanke defy the 3,000 years of history that defines gold as “money” and instead insist that gold is merely a “precious metal”?”

    Good point. A possible explanation is that Mr. Bernanke was answering in his capacity as chairman of the Fed, using the Fed’s definitions of words.

    That is, he interpreted “Is gold money?” as: “Within your area of responsibility, is gold in common use as a medium of exchange?”

    As to Bernanke’s “Ah don’ know nuthin” reply, he had no other choice given who he works for. And when someone dares not divulge what he knows to be the truth, he can always claim ignorance. This is SOP in politics.

    It’s kinda like your “what can’t be repaid won’t be repaid” recipe for dollar devaluation. Bernanke owed the questioner an answer, but he could not provide one of legitimate value. So, rather than outright default on his obligation, Helicopter Ben issued a run of worthless verbiage instead.

     
    • Adask

      July 27, 2013 at 11:48 PM

      Nice metaphor. Thanks.

       
      • Pen Tale

        July 29, 2013 at 8:35 PM

        Why does anyone believe a thing Bernanke says? The whole Ponzi-scheme is built, lie upon lie. His peers take an oath once a year to always lie. “The truth is not in them, ” is a misnomer for they, his cohorts, know the way, but hinder the multitude from entering in and they will not enter in.”
        Has he told us that the Federal Reserve Bank operates in The United States. singular, because of the unlawful adoption of the 14th Amendment and that Congress has trick us into believing that we are US citizens, a gift from god, our Federal Government?

        I invite you to read, “A PRODUCT OF THE SECRET EMPIRE, THE 14TH AMENDMENT, NULLIFY IIT” @ apenstale.wordpress.com

         
  2. JOE L'AMARCA

    July 28, 2013 at 12:31 AM

    Gold , silver , diamonds are not worth anything if there is no fixed standard of value as an example one brick of precious metals it would not buy you a loaf of bread and a gallon of water if there wasint any to be had ask the Germans however precious metals/stones are a finished product and it is wealth due to the fact that it took hard labor to produce it and when a man works an x amount of hours for an x amount wealth it is a meting of the minds or equal exchange and therefore one can assume thats barter wich leads us to the tax code ,
    what ever you earn if it satisfys ones mind it is an equal exchange !! but if a corporation or any other person makes a profit on ( someone elses labor ,or gain it is then called income )corporation dont file a w2 form persons and individuals do because of their ignorance of the U S Constitution .
    My problem is that I dont have the ability to put facts in writing otherwise I could explain to you why bernanke should suffer the death penalty as stated in the coinage act of 1792 section 19 .

    http://www.google.com/search?q=merril+jenkins&rls=com.microsoft:en-us&ie=UTF-8&oe=UTF-8&startIndex=&startPage=1&rlz=1I7RNRN_en

    Merril Jenkins was the man that understood Constitutitonal money , now money it is fraud federal reserve account units of district and there is 94 taxing districts in the U S how can anyone survive in this nation aymore?
    Chemtrails , G M O foods , depopulation act , concentration camps , vaccine flu, chlorine in drinking water , uniform people shooting civilian people , contaminated metals for armaments .
    Gee I hope that they dont forget the VASELLINE AT HOME

     
  3. palani

    July 28, 2013 at 9:29 AM

    Someone whose entire career has been in pursuit of legal money has no ability to understand the concept of lawful money. I would sooner try to attempt to convince a gay to be straight or a Democrat to become Republican than to attempt to convey the difference between lawful and legal money. Many believe the only lawful money is gold or silver while I am not so sure of this myself. As far as I can tell lawful money comes with no strings attached .. such as taxes. But lawful money could be anything from rocks to sea shells to even IOUs.

    A state is defined as the aggregate total of all men’s estates. Once you choose a state (or it chooses you and you fail to object timely) then your estate has joined the estate of all other members of that state. Fiat money would then seem to represent a share of the aggregate total of all men’s estates (including your own). Fiat money would seem to be legal money for those involved in the religion of statism. Viewed in this light then doing business in fiat would seem to be no different than gambling on the stock market where the secured interest is protected by all men’s assets or betting on the black ten at roulette (which would seem to be the lesser risk after all).

     
  4. cynthia

    July 28, 2013 at 10:11 AM

    ‘money’ or ‘pay-ment’ (mind pay) is literally any ‘thing’ that two men\womb agree to. Originally ‘it’ was organic such as that from nature formed by hand, then ‘banks’ came into the picture MUCH further back or earlier than even those that focus their study on the ‘church’ given written records to. It was ‘war’ and greed that then corrupted ‘the masses’ into ‘gold’ and ‘silver’ away from being proper caretakers to our brothers and sisters and the planet. Then it progressed from gold\silver\copper\brass unto ‘paper’. Not mind you ‘paper’ would not be ‘bad’ either but ONLY if there was no ‘securitization’ or ‘Wall Street’ or ‘private’ banks but rather focus on true organic original ‘community’ NOT to be confused with ‘communism’ or ‘democracy’ but rather each single man holding his own ‘counts’ with a ‘secondary witness’ to mediate any con-fusion. My own preference is moving away from PRIVATE debt based frn\usd ‘public’ ‘money’ and back to fully private ‘money’ and ‘exchange’ ‘in equity’ for BOTH parties.

     
  5. Yartap

    July 28, 2013 at 3:35 PM

    At this time, Gold is nothing more than a commodity like corn or sugar (they wish us to think). Just like any other commodity, it is subject to pricing by demand and supply. And like any other commodity, it can only be used as “barter” for exchanges.

    But, there are hints that it may/will once again become a median of exchange. Those hints are: counties are buying it at record levels, the IMF has listed it as a secure asset, and the creation of paper Gold (fiat Gold) to depress the price by banks.

    The great secret of today’s economics is that the study of economics and money must be a mystery to keep the public blind to the thief by banksters/usurers. When Bernanke said that he does not know, well, he and others are just keeping the secret of the breast.

    Once, one, knows the slight of hand tricks of usurers, then economics is very easy. But, you won’t find any money going to educate the public about this. Remember: IT’S A MYSTERIOUS SECRET!

     
    • palani

      July 28, 2013 at 4:54 PM

      In the communist plane where private property does not exist then everything viewed thru the red lens into this plane might be described as a commodity. In the common law plane a large amount of gold need not exist as it only takes one dollar to establish a contract. That one dollar existing in the common law plane is not commodity so much as substance.

      I venture a theory that ought to be considered as a candidate for law …. that anyone who views gold as a commodity declares himself to be in the communist plane.

       
      • Martens

        July 28, 2013 at 5:48 PM

        Too many levels of irony, methinks.

        Let us remember that people new to this area of study will also be reading these articles. For those who missed your attempt at humor, declaring the observation of certain facts off-limits is a communist classic.

        Wikipedia:

        In economics, a commodity is a marketable item produced to satisfy wants or needs. Economic commodities comprise goods and services.

        The more specific meaning of the term commodity is applied to goods only. It is used to describe a class of goods for which there is demand, but which is supplied without qualitative differentiation across a market. A commodity has full or partial fungibility; that is, the market treats its instances as equivalent or nearly so with no regard to who produced them. “From the taste of wheat it is not possible to tell who produced it, a Russian serf, a French peasant or an English capitalist.” Petroleum and copper are other examples of such commodities, their supply and demand being a part of one universal market. Items such as stereo systems, on the other hand, have many aspects of product differentiation, such as the brand, the user interface and the perceived quality. The demand for one type of stereo may be much larger than demand for another.

        In contrast, one of the characteristics of a commodity good is that its price is determined as a function of its market as a whole. Well-established physical commodities have actively traded spot and derivative markets.

        http://en.wikipedia.org/wiki/Commodity

        So we see that, whatever else gold may be, it IS a commodity. Merely noting this fact does not make one a communist.

         
      • palani

        July 28, 2013 at 6:36 PM

        “whatever else gold may be, it IS a commodity. Merely noting this fact does not make one a communist.”

        The word symbol ‘Fact’ started out its existence as ‘evil deed’.

        My statement was ‘anyone who views gold as a commodity declares himself to be in the communist plane’. Many people view gold as a commodity so axiomatically they move themselves from a common law plane to the communist plane. Nowhere have I declared them to be communist but, for example, should they happen to frequent the Blue Moon Oyster Bar I expect they also obey the rules of that community while they are resident. Frequenting the bar does not automatically make anyone gay but it does define the gay plane.

         
      • Martens

        July 28, 2013 at 7:39 PM

        @palani: “The word symbol ‘Fact’ started out its existence as ‘evil deed’.”

        The English word “fact” is an import from the Latin. Specifically, the Latin word “factum”. Originally, “fact” and “factum” had identical meanings: something done or performed. “Fact” has never been in widespread use to mean an “evil deed”. Someone, probably you, just made that up.

        Also, if gold meets the definition of a “commodity” found in every available dictionary, calling gold a commodity only puts one on the plane of reality. Claiming this act has anything to do with communism or the gay bar scene is the sort of absurdity often encountered on the plane of a psychiatric hospital.

         
      • palani

        July 28, 2013 at 8:04 PM

        ” “Fact” has never been in widespread use to mean an “evil deed”. Someone, probably you, just made that up.”
        Fair enough. Here is what etymology online has to say about ‘fact’

        http://www.etymonline.com/index.php?term=fact&allowed_in_frame=0

        fact (n.)
        1530s, “action,” especially “evil deed,” from Latin factum “event, occurrence,” literally “thing done,” neuter past participle of facere “to do” (see factitious). Usual modern sense of “thing known to be true” appeared 1630s, from notion of “something that has actually occurred.”

        Now don’t YOU look foolish??????

        “gold meets the definition of a “commodity” found in every available dictionary”

        Whoa, there .. ole hoss. A DICTIONARY teaches DICTION. It tells you how to SPEAK fact so why are you relying upon a book that declares teaches diction to give you a DEFINITION????

        Look up commodity in a DEFINITIONARY and tell me what it says.

         
      • Martens

        July 28, 2013 at 9:07 PM

        You claimed “fact” started out meaning “evil deed”. The page you linked fails to confirm this.

        I said “fact” has never been in widespread use to mean “evil deed”. The page you linked has no evidence to the contrary.

        diction
        noun
        1. style of speaking or writing as dependent upon choice of words.

        http://dictionary.reference.com/browse/diction

        So a dictionary also teaches writing. Perhaps you’ve noticed how it does this by defining the meaning of words.

        Therefore, since we are writing here, the definitions found in virtually every English dictionary making gold a “commodity” do apply.

         
      • Yartap

        July 28, 2013 at 9:25 PM

        palani,

        For the life of me, I am trying to understand your offered theory of thought. And I am having trouble understanding.

        This “common law plane,” which you speak of, is your meaning that the use of Gold and Silver as a “common” practice of the past so strong, that we should not ever look upon it as a commodity, but rather, as money? I’m assuming that this does not relate to gold’s use in jewelry and industry? Is this common law plane a time before the government took all of the gold from the public in 1933 and made it communal (communism) property of the U.S. government? How does this relate to other commodities which can be owned by private people?

        But, you also state that, even without a large amount of gold existing, the dollar is a contract of “substance” (Do you mean not physical, but idea?) in a common law plane, what do you mean? Can the dollar exist in a communist plane? Or are you speaking of one gold dollar when you say common law plane?

        What am I missing?

         
      • palani

        July 29, 2013 at 6:28 AM

        @ Martens
        If you look at the definition provided by etymology online you will see ‘fact’ described as an action and especially an action that might fall in the category of ‘evil deed’. So you see the definition THEY provide does not exclude ‘evil deeds’ from falling into the category of ‘fact’. If these type deeds are not excluded then doesn’t it follow that they are included?

        “So a dictionary also teaches writing.”
        Can we agree that a dictionary is also useful to determine proper spelling? A marketing ploy by the publisher to include definitions is beyond the scope of a book intended to teach diction and spelling.

        @ Yartap

        “This “common law plane,” which you speak of, is your meaning that the use of Gold and Silver as a “common” practice of the past so strong, that we should not ever look upon it as a commodity, but rather, as money?”
        One of the critical elements to form a common law contract is substance. Gold and silver filled this need for much of the history of mankind (at least in the western civilizations). However the need for substance is symbolically only.

        Pewter mugs have glass bottoms for a reason. Press gangs would buy a round and place a shilling in the bottom and when you drank up you found your payment for several years of voyaging paid in advance. It was a symbol. When the king needed volunteers for his next war patriots would voluntarily drink a mug to his health knowing there was a shilling in the bottom. The glass bottom is so that fraud might not be an issue. Always look to make sure what is in the bottom of the glass before you accept a round from a stranger.

        “Is this common law plane a time before the government took all of the gold from the public in 1933”
        What the government does is of little consequence if its actions are unlawful.

        “How does this relate to other commodities which can be owned by private people?”
        Nothing is owned that is measured in Federal Reserve notes. Or rather the question becomes ‘who owns it’ and , brother, that is not you.

        “you also state that, even without a large amount of gold existing, the dollar is a contract of “substance” (Do you mean not physical, but idea?) in a common law plane, what do you mean?”
        I believe I indicated that one dollar was enough to satisfy the common law requirement of substance. The old form of common law contract was either “one dollar and other valuable considerations” or “one dollar love and affection”. This latter expression being reserved for family members and loved ones. You may fulfill the substance requirement of a common law contract with silver currency or a gold dollar but not with a Federal Reserve note. The other valuable considerations might be whatever you choose. If you have a contract with another for something valued at half a million dollars you might extinguish it by paying one dollar in silver and $499,999 in whatever mode you choose.

        “Can the dollar exist in a communist plane?”
        Not in the form that was defined by the Coinage Act of 1792. What need do communists have with symbols of private property from previous ages? As long as they can trick you into fighting their wars and paying your mortgage and purchasing your food with paper symbols their needs are satisfied.

        “are you speaking of one gold dollar when you say common law plane”
        It should be obvious that the monetary policy of the U.S. does not include gold or silver. Take a look at those newly minted gold and silver coins they sell you. Check the dollar amount stamped on them. Then take a look at the charge in FRNs when you go to purchase them. The difference between these two figures is a direct measurement of the distance between the plane the U.S. government exists in and the common law plane.

         
      • hogorina1

        January 9, 2015 at 7:15 PM

        THE CITY/COUNTY MANAGEMENT SYSTEM I’m willing to bet that the county/city manager system has a toe hold throughout the state of Michigan. .Basically, this is the ultimate in political whoredom, that has infected America nationwide. We may find a few of these self-seeking scoundrels on the level, as scatterbrained stool pigeons. Basically, this growing menace is a set up by sharpies in the banking and commercial industries wherever a roost is well salted down. In estimation this setup is a master criminal conspiracy to further throttle a people’s attempt to be recognized, by political whoredom’s hold in a locality where citizens are tired of appointed deadbeats used as hit men in order to do the dirty work of scoundrels in the background, where local hooligans operate freely and the manager in office acts as a hit man, More Than Likely, many states have fallen into the trap of a well-regulated nest of political gangsters coining the city/ state management political scheme, to literally rip off property owners via elevating taxation, disguised in various manners. These planted blood-suckers are tied in with the national industry of tourism. The gang of investors pulling the wires are professional hoodlums, being tied in with the commercial, banking and ghetto syndicates, to legally rob, steal, and plunder any and all local responsible citizens. This is a concealed third party political industry.

         
  6. Yartap

    July 29, 2013 at 7:10 PM

    palani,

    Thanks for the reply. I now understand your points, and I concur with your theory to a point.

    I would not use the term, “communism,”to describe the plane. But rather, a “corporate communist plane” would be better I think to describe the discharging of our debts in equity or FRN’s. The true owners of goods or commodities would be the issuers of the notes. But their issued substance is questionable at best to justify their ownership, now that FRN’s are not backed and uses someone else’s promise (Full Faith and Credit) to pay (pay what?).

    Yes, it is better and a lawful contract or trade to have substance for substance or “quid pro quo.”

    I, personally, believe that a non-backed fiat currency can work as a medium of exchange to facilitate trade of goods and services in a “delayed” substance for substance lawful exchange. But, for that fiat currency to hold value, interest or usury must be avoided and not allowed. Thus and plus, a government must issue and be restricted with issuance of a fiat currency.

    What many Gold Believers do not understand is that, even with the backing of currency with gold, it can be inflated too, as our history has shown due to robbers and war spending. Our government’s economic history as been to always stay one step ahead of the exponential curve of usury by using its peoples wealth and with the people using devalued dollars trying to catch up. Will this history continue or will it crash? We will see.

     
    • palani

      July 29, 2013 at 8:53 PM

      @ Yartap
      “I would not use the term, “communism,”to describe the plane. ”
      There are many planes. The one I observe most people objecting to has eliminated private property and implemented the all other planks of the communist manifesto. I therefore identify this plane as the communist plane. You may use whatever symbol you choose but you will find that a pig still smells the same without respect to the name that is applied to him.

      “What many Gold Believers do not understand is that, even with the backing of currency with gold, it can be inflated too”

      Inflated or not. Value or no value. Certainly this is of no concern to common law. Of concern is that a ‘token’ be used to gain access to law itself. The quantity is not of concern. The smallest speck is sufficient to say something changed hands and that something is substance.

      When land is transferred one required ceremony is called livery of seisin. At closing the purchaser spreads his coat on the floor and the seller tosses a clod of dirt onto the coat. What is physically transferred is the clod but what is symbolically transferred is the parcel from which the clod comes. The ceremony is what is important. No need to bring in a 50 ton load of dirt to dump on the coat when a piece the size of a closed fist is sufficient.

       
  7. Anthony Clifton

    July 30, 2013 at 9:58 AM

    where do communism & Zionism come from ?

    how many Israelites actually reside in the “Jewish” so-called state ?

    http://buelahman.wordpress.com/

    hemp is “money” and gold is a yellow metal to fight over…
    so females will want a diamond
    to be more flashy than their BFF’s.

    http://cherokeecountytexas.wordpress.com/tag/robert-fox/

    moonshine is a national pastime for hillbillies

    G*D hates fags

     

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