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Tag Archives: Collectivism

Venezuela: Leftists are Too Broke To Print More Cash


Venezuela's Central Bank-- Too Broke to Print More Monopoly Money [courtesy Google Images]

Venezuela’s Central Bank–
Too Broke to Print More Monopoly Money
[courtesy Google Images]

Zero Hedge recently wrote:

Back in February, we commented on the unprecedented hyperinflation about to be unleashed in the Venezuela whose president had just announced that he would expand the “weekend” for public workers to 5 days.

“About the same time, the WSJ announced that, ‘millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived in Venezuela from countries around the world to service Venezuela’s crippled economy. But, instead of food and medicine, the planes carried another resource that often runs scarce there: bills of Venezuela’s currency, the bolivar.’”

“The 747 cargo shipments were part of the import of at least five billion bank notes as the government boosts the supply of the country’s increasingly worthless currency.”

“More planes were coming: in December, the Venezuelan central bank began secret negotiations to order 10 billion more bills which would effectively double the amount of cash in circulation [and thereby also reduce the real value (purchasing power) of Venezuela’s national debt by 50%]. That order alone is well above the eight billion notes the U.S. Federal Reserve and the European Central Bank each print annually—dollars and euros that, unlike bolivars, are used world-wide.

Yes, it’s true that the U.S. dollar and the EU’s euro are different from the Venezuelan bolivar in that dollars and euros are “world reserve currencies” that are recognized and “used world-wide”. The bolivar, on the other hand, is primarily a “local” currency used and recognized almost exclusively within Venezuela.

However, it’s also true that dollars and euros are also virtually identical to Venezuela’s bolivar in that all three currencies are fiat, debt-based and intrinsically worthless. That equivalence is nothing to sneer at.

Why? Because dollars and euros might do better than bolivars today, but that won’t always be so. Venezuela is giving the world yet another lesson on the inevitable fate of fiat currencies: hyperinflation and national ruin.

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The Bernie Sanders Revolution


Bernie Sanders An Improbable Revolutionary [courtesy Google Images]

Bernie Sanders
An Improbable Revolutionary
[courtesy Google Images]

Bernie Sanders is the junior US Senator from Vermont.  He’s a member of the Democrat Party and an avowed socialist.  He’s a balding, white-haired gentleman and 74 years old.  He’s nobody’s idea of a left-wing, radical revolutionary.

When Senator Sanders announced his candidacy for the Democrat nomination for President last May, it seemed to be a fool’s errand.   Hillary Clinton seemed virtually unstoppable.

My first reaction to his candidacy was, “Awww–isn’t that cute?  An elderly, white-haired socialist is running for President.  Gee, it’s really true; anyone can grow up to run for President in the USA.  Is this a great country, or what?”

Of course, I didn’t believe Bernie had a chance in heck of winning the Democrat nomination or even raising any funds.  I kind of expected him to campaign from his walker, make a brave show of it, take a nap and quickly fade from the campaign.

I was wrong.

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Government’s War Against Savers


Government Squeezes the Savings--and Independence--Out of People [courtesy Google Images]

Government Squeezes the Savings–and Independence–Out of People
[courtesy Google Images]

Reuters published “India’s ‘gold monetization’ scheme could have a big impact on global demand”.  According to that article:

“Last week the Indian government approved the so-called gold-monetization scheme . . . [by] creating a system in which Indians holding private gold will be able to deposit it at banks—and then earn interest on their bullion holdings.

The government plans to then make the deposited gold available to buyers across India. The aim is to reduce gold imports from outside the country, which run at nearly 1,000 tonnes yearly.

“India’s cabinet also approved a ‘gold bond’ program in which citizens will be able to buy interest-bearing bonds backed by gold, rather than owning physical gold.

Estimates are that private citizens across India hold tens or even hundreds of millions of ounces of gold—which could become available to the banking system, if the monetization program is well received.”

 

First, a metric ton weighs 2,200 pounds.  If India imports 1,000 metric tons of gold at $1,200 per ounce, they’re importing $42 billion worth of gold each year.

India’s current GDP is about $2 trillion per year. Thus, India currently spends 2.1% of its annual GDP purchasing more gold from foreign sources. That’s 2.1% (more or less) last year; 2.1% this year; 2.1% next year.  Note that US economists hope that the US economy will grow by 3% annually.  Compare that 3% hope to India’s 2.1% annual drag on their economy due to purchasing foreign gold.  You can see that 2.1% is a significant expense for an economy the size of India’s and cause for governmental concern.

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Noah Webster Didn’t Define “Collective” as a Noun


Noah Webster (A.D. 1758-1843) [courtesy Google Images]

Noah Webster (A.D. 1758-1843)
[courtesy Google Images]

“Toland,” one of the regular “commenters” on this blog, posted the following comment.  I replied.  Both comments appear towards the end of one of my recent articles where they’re not likely to seen by many more readers.. 

On reflection, I think this pair of comments deserve to be posted as an article to ensure that they’re seen by more readers:

.

Toland’s comment:

@Henry

Searching the internet for info on this William Blackstone you mention, a few results from this very blog turned up. Someone in November of 2013 was, like you are now, asking fellow commenters for a dictionary definition of “sovereignty” that’s consistent with supposed “individual sovereignty” in American law.

Also, like you are now, this commenter was asking the “individual sovereignty” campaign to square their notion with Blackstone’s definition of sovereignty as “the making of laws”.

Sure ’nuff this commenter in 2013 got back a combination of complete silence, attempts to change the subject, and fancy song-and-dance routines in reply – but not one responsive answer.

So we see that a conspicuous hole in the “individual sovereignty” campaign is its inability to make sense in terms of any definition of “sovereignty” found in a law dictionary.

The flaw is that fundamental, take note. Though it’s possible this is considered a problem only in the “real world”, where facts and law matter.

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Posted by on June 9, 2015 in Definitions, Sovereignty

 

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Adask on Sovereignty II


"Prof. Adask" [courtesy Google Images]

“Prof. Adask”
[courtesy Google Images]

In my recent video presentation “Adask on Sovereignty,” I argued that the Founding Fathers created a nation where each of the people were deemed to be an individual “sovereign”.  That individual sovereignty was achieved by virtue of having received our “unalienable Rights” from God—as declared in “Declaration of Independence”. 

I supported this argument, with text from the A.D. 1793 Supreme Court case of Chisholm vs. Georgia which declared in part that after the American Revolution, the American people became “sovereigns [plural] without subjects”.

If my argument is right, We the People are individual sovereigns and the government is our public servant. If my argument is wrong, We the People are subjects and the government is our master.  The argument is important.

In the aftermath of the first article (“Adask on Sovereignty”) a number of readers disputed my argument based on the fact that the Supreme Court also described the people are “joint tenants in the sovereignty”.  According to these readers the definition(s) of “joint tenants” prove that the Supreme Court did not declare the people to be individual “sovereigns” (plural) but instead confided all sovereignty to a single “collective” of which we are each a member, but only as subjects—never as sovereigns.

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“Stealth Socialism”


Rep. Alan Grayson (D-FL) [courtesy Google Images]

Rep. Alan Grayson (D-FL)
[courtesy Google Images]

Conservative Byte posted an article entitled “Dem Rep Praises Rise of ‘Stealth Socialism’ In America”.  According to that article,

“In a recent interview with Salon, outspoken progressive Rep. Alan Grayson (D-FL) hailed the rise of what he called “stealth socialism” through America’s recent monetary policy decisions.”

What does Congressman Grayson mean by “monetary policy decisions”?

He means “central planning” by the Federal Reserve System.

“Central planning” is a term that was popularized by the former Soviet Union—until it collapsed under the weight of “central planning” in A.D. 1991, ceased to exist, and plunged the people formerly ruled by “central planning” into a decade of chaos, poverty and violence.

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Communism Survivor Blasts US Gun-Grabbers.


“I’ve been through it.  I’ve been there.  You people don’t know what freedom is because you’ve never lost it.”

This immigrant is a man and he deserves a huge round of applause.

video   00:04:51

 

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