The World’s Biggest Ponzi Scheme Exposed
Ron Paul on the Evolution of Freedom in the 21st Century
"Fewer people depend on regular TV and you see more programs being deleted from TV. So the Internet is the wave of the future and that's one of the reasons the freedom movement is growing, because it's not dependent on the establishment. When I got interested in these ideas in the '50s and '60s it was very, very difficult to get any information but today it's so easy and it spreads like a wildfire. It is worldwide. I've said it so many times – this is not a Republican deal. If the ideas are correct they will be pervasive. Interventionist foreign policy and Keynesian economics was endorsed by the Republicans and Democrats; they just argued over who got to be the managers." Continue reading →
Bill Bonner: College is a con
"Gradually, making things in the US became less and less profitable. So, if you wanted to earn a good salary you had to go somewhere else. Finance, administration, accounting, law, education, or health care. The good jobs in these industries required college. That’s why you’re here. But wait, there’s more to the story. Unlimited credit also made it easier to support zombies and parasites. Government connived with industry to create quasi-monopolies, cartels, subsidies, guarantees and price supports. And the feds could add bureaucracy, controls, rules and regulations. For example, the education industry added few teachers, but lots of ‘educators’ and policy coordinators." Continue reading →
Peak Real Median Income In USA = 1999; Washington DC = 2012
"Real Median household income peaked way back in 1999 at $56,000 and by 2012 it was down 9%—an unprecedented decline. It goes without saying that Washington’s Keynesian ministrations on the money printing and national debt front didn’t much help. In fact, the Fed’s balance sheet has expanded from $450 billion to $4.4 trillion during that period or by nearly 10X. Likewise, the national debt has nearly quadrupled to $17 trillion during the same period. Well, all this monetary and fiscal profligacy did apparently help in one precinct: Namely, the Washington beltway where median household income reached its all-time high in 2012 and undoubtedly continues to rise." Continue reading →
Why I Sued the U.S. Government 28 Years Ago and What I Learned
"My name is Will Bonner. In 1986, at the age of seven years old, I took the US Secretary of the Treasury, James A. Baker, to federal court over the US national debt. When I was seven years old, I took James A Baker, former US Secretary of the Treasury, to court... over the US national debt. I wasn't looking for a big cash payday. I was asking the court to prevent Mr. Baker and the United States Treasury from getting away with the biggest rip-off in history... a policy most people don't understand or like to talk about... but one that I believed would ruin this country... And I wish I was writing to you to tell you that I had been successful... that I had stopped it. But it didn't turn out that way." Continue reading →
Suit Goes To Bat For Future Taxpayers [1986]
"A lawsuit supported by the National Taxpayers Union and two state attorney generals has been filed on behalf of 60 million children, charging that deficit spending benefits today`s adults at the expense of youth who will have to bear the future burden. The novel suit names Treasury Secretary James Baker as the defendant, and it seeks to enjoin Baker from issuing any new instruments of federal debt except in certain instances and to compel the establishment of a schedule to reduce the deficit. It also argued that by forcing children to assume responsibility of debts now incurred by fiscally irresponsible adults, children are being denied equal protection of the laws under the 5th Amendment." Continue reading →
Stefan Molyneux on Shutting Down Government with Bitcoin
"Stefan Molyneux and David Seaman talk about making the present incomprehensible to the future, the elimination of fiat currency, using Bitcoin to end war, and why you can't buy votes with Bitcoin." Continue reading →
UK financial official: Monetize state debt when deflation risks persist
"There is no need for central banks’ balance sheets to shrink. They could stay permanently larger; and, for some countries, permanently bigger central-bank balance sheets will help reduce public-debt burdens. Even when permanent monetization occurs — as it almost certainly will in Japan and possibly elsewhere — it may remain forever the policy that dare not speak its name. Such reticence may serve a useful purpose. But it must not blind central banks and governments to the full range of policy tools available to address today’s severe debt overhangs." Continue reading →
Bill Bonner: The Coming Bull Market in Gold Stocks Is Going to Be BIG
"Most empires were financed on the loot captured from their conquered opponents. But the US Empire depends not on generals, but on bankers. Bernanke – the 'Hero of ’08' – kept the credit flowing at a crucial moment… He kept the empire on schedule… and on target… for its rendezvous with disaster. [..] Debt has its lifecycle. So do empires. Both expand. Then both… without exception… contract. An empire funded by debt is an especially ungainly, grotesque thing. It lurches from one disaster to another – going deeper and deeper into debt each time. But it is not the debt that kills empires. Debt is just a razor conveniently left on the side of the tub." Continue reading →
Debt hits 200-year high; IMF warns of ‘savings tax’ and mass write-offs
"Much of the Western world will require defaults, a savings tax and higher inflation to clear the way for recovery as debt levels reach a 200-year high, according to a new report by the International Monetary Fund. The IMF working paper said debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, either negotiated 1930s-style write-offs or the standard mix of measures used by the IMF in its 'toolkit' for emerging market blow-ups. Financial repression can take many forms, including capital controls, interest rate caps or the force-feeding of government debt to captive pension funds and insurance companies." Continue reading →
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