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Economic Suicide: Why Easy Money Ends Up Being Worthless Money

Whoever would have thought in the 1980’s that a free market capitalist and a KGB agent would have arrived at the same conclusion being from opposite views and backgrounds? When I was pinging emails back and forth with Igor Panarin, I was attempting to find out more details on how he predicted the collapse of the U.S. Empire in 2012 – a stance he took as a KGB agent in the 80’s. What I found most interesting was that his claim was based largely on our economic policy combined with our foreign policy.

He mentioned that it was during the 80’s that the loss of economic power in Russia was realized due to the centralized monetary policy, and foreign policy of Russia. While Panarin is definitely no fan of free market capitalism (a fact he makes plain in his writings and speeches), he at the very least made it clear that a nation that employs a centralized monetary policy in the hands of private banks, will always carry negative impact to the host nation. And for the record, the free market capitalist was a much younger Ron Paul (and yes, they laughed at him then to).

One primary reason for this is that the banks that control the economic policies of the host nation have no real loyalty to that nation – their one goal will only be to bleed it dry before moving onto the next up and coming nation.

It always starts the same way. The banking board will assume control of the nation’s money policy claiming that they will both provide stability to its currency, and maintain a stable market atmosphere. Typically the nation that allows this has a good supply of gold. The banking board (in our case the Federal Reserve), will start out by basing the value of the nation’s currency off of the supply of gold it has (being that gold is the most highly valued of all common commodities). This is the beginning of what is known as a specie backed currency.

Over the following decade(s) of its implementation, the central banks realize that they will not be able to make much more profit should the fiat currency remain based on a set amount of specie. After all, specie itself is rare, and not easy to come by. So they tout to the host nation that for its lending to expand (and thus produce growth) to a meaningful extent, that a new economic policy must be adopted. The only way for the central board to maintain its hard valued income, is to use fractional reserve banking. This means that it no longer lends out only the money it has, but adds more money to the books, and only requires that the branch banks have 10% in reserve. Put even more simply, it means that for a branch bank to get 10,000 dollars to lend, it only needs 1,000 in its reserves.

Most people never even bother to think about this, and then wonder why this technique faces so much opposition. After all, they are told that the central banks allow for lending needed for economic growth. They are told that with this system, companies and individuals alike may borrow money, and use it to invest in a potential increase in productivity. Indeed having such available credit with little money down seems like a dream come true. Increasing the false feeling of prosperity is the rapid expansion that follows – usually due to a new technology or booming market sector. Thus people accept it as being the perfect system that allows a people to live civilly and comfortably at the same time. When this mindset is adopted, the damage starts and never ceases – here’s why.

People overlook the fact that in such an economic scenario, that the money lent out does not physically exist – and is nothing more than some entries on a ledger. These entries are not available for public view, and are only able to be tracked on the website as to the money supply in general. It is important to note that the amount of currency printed differs greatly from the money supply on the books. Our Federal Reserve is the perfect example of this full scenario.

Over this time, the host nations gold supply dwindles to a fraction of what it once was. War expenditures, payments to the private central bank for its services etc, have all contributed to this. Thus the next problem is realized for the red flag it should have been all along – that is the host nation now only has paper to pay its debts. Being that the gold supply is now insufficient to payoff these debts, the government of the host nation makes the blunder of taking the last remnants of its wealth off of the table completely, and bases its currencies value off of the nations productivity in general. It then crosses its fingers and hopes that the productive capacity of the nation stays high and maintains growth in line with the inflation of its paper currency. This is where things grow from bad to worse.

In a nation where people are comfortable in the idea that the government is comprised of worthy leaders, and looks to them to solve every problem under the sun from poverty to obesity to regulating entertainment, this gets very bad very quickly. As the host nations money is worth less, foreign goods that the people have come to value so much goes up in price. Ditto with energy as the nation relies on foreign oil etc. The people of said nation love their environment and equality regardless of merit, so they refuse to drastically cut taxes on businesses, as well as regulations on energy production here at home. After all, without all that funding, how on earth could their government continue to be benevolent to the poor and oppressed by the greedy capitalists here at home and the evil warlords overseas? Also the environment is in great danger, so we cannot possible allow for private entities to see to our energy needs on our own soil. So people do as they believe is right, and turn to their elected ‘leaders’ to help.

The leaders help alright. They cannot tax people enough to meet their current demand (let along future expenditures) without inciting a full blown revolution and wide spread riots, so they increase their amount of debt. Because the central bank has its false wealth tied up with the governing bodies, the lending in the private sector continues to lag – which is not usuall.....

.........Funny how we have claimed a free market system for nearly the last hundred years, but have actually had a de facto nationalized banking system at its core.....

http://peacefreedomprosperity.com/5562/ecomomic-suicide-why-easy-money-ends-up-being-worthless-money/Whoever would have thought in the 1980’s that a free market capitalist and a KGB... more

shanklinmike
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S & P Downgrades US Treasuries, DOW Gets Pummeled: SOLUTION - Voluntaryism

Though many still like to scoff at the idea of a complete economic collapse, it does not change the reality that it will happen as no one in congress, the senate, or presidency will ever admit to the people that they messed up, and will have to drastically cut their payouts. In their eyes, it is the knowledge that it is either a major economic collapse, or a severe civil uprising. In the case of the prior, the blame game option is still on the table and more plausible. In the latter, it will have to admitted that it was the cause of the whole mess – a political mass suicide that none of them will ever want to go through.

First of all, we need to be honest with ourselves as a nation, and admit that what we are going through now is the general sum of failure in all systems; failure in economic, foreign, military, educational and domestic policies. If this can happen, the even more important question can be addressed – what now?

Well it’s actually pretty simple, and we can start with the idea of centralization. People tend to gravitate toward a centralized entity as it as seen as being the calm in the storm so to speak. This holds true in small meetings just as it does in presidential elections (as far as group thought anyway). In small arenas there is nothing wrong with centralizations as the collective is small and interests limited. This means that you have simplicity which makes any policy emitted as being understandable and thus easy to follow.

Expansion of either the size of the collective or its interest is where things start getting complicated. People can only have a reasonable understanding of so many various topics before they run out of room so to speak. For instance a laborer will understand labor, but would not be suited well towards building a communications network. Likewise a network engineer will have little understanding of how to lay a solid concreted foundation. Hence the more items or services you have used for the ‘good of the collective’, the less understanding the collective will have as to how things work. The one and only solution to this is by committing to expansion very slowly, so that the individuals that make the collective have time to develop an understanding of the new interest or social group.

In the interest of the above two points, there is nothing small minded or unenlightened about bending ones focus upon their locality. In actuality, it is the globalists who think themselves wise to the world that continue to overlook the obvious sink holes in their own backyard. The fact of the matter is that I cannot think of a single locality that is not only self sustaining but more than capable of establishing itself and prospering. The reasoning here is simple as well. In most localities you can have farmers markets, a local sewage treatment plant, etc. What one locality may lack in terms of natural fuels or other resources, they could easily trade to another locality for something else. It really is not hard at all.

As to money, it would take some time to adapt to a new system, but it is still easily possible. Everyone complains about the big evil banks, so why have them? Seriously, why have them? If local banks were in place, and you could use any currency you wanted to (or not all for those gifted in trading), then their failures would not have to translate into a tool of fear that can be used against you. In addition it..................

http://peacefreedomprosperity.com/5479/s-p-downgrades-us-treasuries-dow-gets-pummeled-solution/

http://www.youtube.com/watch?v=RHe4OQ4bY4o

http://www.revleft.com/vb/picture.php?albumid=210&pictureid=4877Though many still like to scoff at the idea of a complete economic collapse, it does... more

shanklinmike
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S & P Downgrades US Treasuries, DOW Gets Pummeled: Problem

This post, the problem... next post, the solution.

http://peacefreedomprosperity.com/5474/s-p-downgrades-us-treasuries-dow-gets-pummeled-problem/

Last week was a bad one for Wall Street. The DOW got pummeled by over 500 points, Standard and Poor’s downgraded the rating on US treasuries, and now no one is quite sure what will happen. Now this is only the tip of the iceberg that many of us have been talking about for almost a year now, but I highly doubt most people even seem to understand the implications involved. Not being satisfied with third hand reports, I downloaded Standard and Poor’s report, and began to see just how messed up things really are.

First of all, the report often makes three assumptions to prevent further downgrading of debt. The first is that the bush tax cuts are removed (or rather allowed to lapse) in 2013. The second is that government spending slows down even more then the new so called budget deal. The third is that the fed raises interest rates. Unfortunately the main body of the report focuses on these things happening to bring forward a ‘best case scenario’. Unfortunately, neither can happen at this point.

To start with, congress didn’t have the backbone to cut spending before. Sure they slowed down the amount of spending taking a savings off of the proposed deal, but it was not nearly enough to meet the bond rating agencies wishes. This happened for two reasons. The first was that the immediate effect of a meaningful cut in deficit spending would mean that many people would not get the government hand outs they were promised – something no one wants to do on a good day – let alone so close to an election. The second was an equal method of political suicide – decreasing tax cuts to increase revenue enough to meet the promised expenditures. This will not change in the future either, so S&P’s idea that it is possible is naïve at best.

As to raising the interest rate, the SP report is very skewed within itself. It states that a plus would be to have the fed incur a loose money policy in a time of monetary tightening (their words not mine). This is foolish because by enacting another round of QEx, the easy money allowed to maintain what the SP sees as a good monetary policy during tight times, will mean an insane amount of money being injected into the bank balance books – on top of the QE2 which has still yet to take full effect as the bankers keep raking it in. Contrary to popular belief, the banks are not only tying up more money than all of the private corporations combined, but and even worse is that government has even more money tied up in promised payouts. This is something Standard and Poor’s did not address in their report.

What I take issue with the most is Standard and Poor’s inferences. It takes into account the slower than expected GDP growth and the increased debt burden. However instead of urging the government to reign in its spending, it encourages it, and follows through with a hint that we need to raise taxes. This is their biggest mistake of all.

What the SP either is forgetting or deliberately leaving out, is that many of our economic woes are from taxes – both corporate and private alike. If these taxes where ever raised to meet government expenditures, then the rate would be far higher than it is now – almost double; and that still would not cover everything. In addition, many businesses have moved their bases of operations overseas just to make it affordable to operate. Should taxes be raised yet again, then even more will go overseas – this creating an even bigger drop in job loss. Less jobs here is less tax revenue, thus making the idea of raising taxes undoable right out of the gate.

However damaging this news is to our bond holders (especially in the future when it gets downgraded again, which will happens as democrats will promise more spending as republicans sign off on it without allowing taxes to go up), it is still pretty petty compared to the much larger issues that will be adding fuel to this fire.

You see as government is able to fund less and less through bond sales, it will need money to cover the difference. QE1 and 2 have already aided in this effort, but still fell drastically short. In addition, the money has not gone to any productive source, but rather into government and big bank balance sheets so that they can keep the toxic assets on their books in an effort to maintain their high prices. This of course is very foolish, and has already allowed money to leak into the private sector allowing the prices to rise across the board. Once QE2 begins to finish piddling out over the next 3-4 months, QE3 will be enacted, and it.................

http://peacefreedomprosperity.com/5474/s-p-downgrades-us-treasuries-dow-gets-pummeled-problem/This post, the problem... next post, the solution.... more

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How Governments Work

David Shirk explains governments.... more

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FOLLOW UP!: Why The Pledge of Allegiance Should Be Removed From Schools

In my last article “Why The Pledge of Allegiance Should Be Removed From Schools”, I got a lot of feedback saying what a crock it was, and that somehow it was a statement against America herself. Many seemed to get the idea that the article was about how I am so disappointed in America that I believed that the Pledge of Allegiance to it should be removed. Though I believe the pledge of allegiance should be removed, it is not because I hate America as so many seemed to believe.
The first and most common argument was that the Pledge of Allegiance to our country was a good thing because it taught kids and adults alike to take pride in our nation. I will address this one first as the revolution was not fought to create a new nation or empire, but rather to free themselves from the one they already had.
1 – The creation of America was not the dream of the common man at the time, or by many of the so called founders. On the contrary, most people just wanted to live their lives without the interference or burden of government regulation or taxes with no perceived benefit. They knew that should a nation be created, that what little taxes and regulation they did have would grow in kind. They even feared that should it happen, there would not have been a point to the revolution (see Radicalism of the American Revolution by Tom S Wood, and Glorious Cause by Robert Middlekauf).
2 – At the end of the revolution (and with the newly found freedom), the middle class began to flourish, the abolitionist movement grew rapidly, the States made great strides in paying off war debt, and advocating women’s rights. Of course the States in those days were nothing as we have today. There were very few governing bodies, and thus few laws to govern the people. This suited them just fine.
3 – Yet the federalists in congress realized that if things continued in that manner, then their wishes for a glorious empire would not be realized. So after years of haggling and hot debating, the Constitution was drafted. To those like Jefferson, it was to limit the government so that the people could continue to flourish. To those like Hamilton, it was a means to build a new nation. The end result was a small federal government that the people at the time paid little mind to as it had no real power to affect them in any real way.
4 – Hamiltons efforts at granting the new federal government more power were virtually ineffective until he was made Secretary of treasury. Being a sharp minded individual, he used his knowledge of debt based economics to appeal to the states to buy their debt, and thus alleviate the burden from the states. Many of the people saw no need for this and petitioned their elected leaders to just let it be. However once in the audience of Hamilton, they were unable to make solid arguments against his proposed system. So Hamilton simultaneously increased the debt (by a wide margin), used the funds to build an army that he could control, and used the army to support the federalist system.
5 – Adams then signed the Alien and Sedition Acts rendering Jefferson (or anyone else for that matter) unable to speak out without being thrown into prison. This however did not prevent Jefferson from making his thoughts on the subject known at a later date. At this point, the federal government now had the control that Hamilton wanted.
So far I am seeing nothing here at all to be proud of. In addition to breaking the Constitution almost before the ink was even dry, Hamilton paved the way for holding the people to the law, but not the government. Because Hamilton’s system endures today, people seem to see it as something to be proud of despite its lies and law breaking ways. After all, they live well, so the ends justified the means.
To many on the comment string, this was a good thing. They believe that without the Federal Government, and strong state governments, that society would be in chaos, and that we would still be in the stone age. I find this hard to address as such commenter’s belay their ignorance of the cycles of nations, empires, and civility as a whole. It also tells me that not one of them ever bothered to read any real literature on what happened immediately following the war, to the creation of the powerful federal government we know today. So far all its led to is a bunch of people being proud of lying cheating politicians who they refuse to even do their research on before declaring their pride in it, but I digress.
1 – To build an empire you need to expand. During the age where land ownership was highly prized and hotly debated, this was problematic at best. The French owned much of the middle land and the land to the north, the Spanish held what is now Texas and California. They held it somewhat loosely having figured out that the best way to deal with the native Indians was to do so peacefully and as rarely as possible. Seeing an opportunity, the Louisiana Purchase (and a few other land deals) were made, and the land was acquired so that the rapidly growing population would have a place to settle. It needs to be kept in mind that there was a major difference between what the colonists thought of the new land, and what the natives and other countries did. To the colonist, it was as simple as buying the land and making it produce. Not so for the natives.
2 – When the French sold the land to Federal government (paid with debt and taxes from the people, who by the way were made to pay for it yet again if they hoped to by it), they washed their hands of the mess and moved out for the most part. The natives on the other hand had lived there their whole lives, and did not expect the land prospectors to just move in and try to settle it. To be blunt, it was a mess. Between the friction and the less then favorable land conditions, it turned out to be a major cost burden to the Fed as not to many buyers wanted it at the price offered (sound familiar?). The federal government that people praise so much, then pulled another trick.
3 – They claimed that the natives were uncivilized, and that is why there was so much friction. They claimed that they were not ready to become civilized, and that instead of learning peaceful methods of interaction, that force should be used to remove them – after all, they were not viewed as the rightful owners of the land. This added even more cost because soldiers had to be called in to accomplish this task.
So up to this point, the federal government had not only lied and cheated, but swindled the people. It sold them land whenever possible that it used their money to buy in the first place, and then left them to deal with the upset natives. Then when the beleaguered settlers called for help, the federal system added taxes and debt to cover that cost as well. And still somehow, many people who claim to be knowledgeable ,comment on how great the federal government is; that without it, chaos would reign.
Now I can do this all night, but will end with one last example of how our countries founding is nothing to be proud of. Its actions set the standard for the expansion of its empirical interests rendering the republic irrelevant.
In his memoirs, Grant said “Generally, the officers of the army were indifferent whether the annexation was consummated or not; but not so all of them. For myself, I was bitterly opposed to the measure, and to this day regard the war, which resulted, as one of the most unjust ever waged by a stronger against a weaker nation. It was an instance of a republic following the bad example of European monarchies, in not con...

http://peacefreedomprosperity.com/5393/follow-up-why-the-pledge-of-allegiance-should-be-removed-from-schools/In my last article “Why The Pledge of Allegiance Should Be Removed From... more

shanklinmike
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Why The Pledge of Allegiance Should Be Removed From Schools

The pledge of Allegiance was written by a socialist by the name of Francis Bellamy in 1892. The original gesture to be made was a Hail Hitler like salute (it’s actually where Hitler and Mussolini got it) – and this is why we now use the hand over the heart instead. The best part is that it all began as a sales campaign to help sell magazine subscriptions – selling flags to schools to increase visibility. The pledge was later added to aid in the process, and has been in place since. The original pledge was “”I pledge allegiance to my Flag and to the Republic for which it stands, one nation, indivisible, with liberty and justice for all“”

It has children pledging allegiance to an entity they know nothing about making it the most powerful indoctrination tool ever devised in our nation. Following this – children learn summed up history of our nations founding, and little more from there on in. This does them a great dishonor because the only thing they have to correlate this bit of knowledge to, is the world as it is today. Given the lack of in-depth knowledge covering the creation of the US, and how it came about, this makes such times and events appear as meaningless in today’s world.

First of all, republics are not by nature unified nations – that comes later when a Republic decides to expand its interest to become an Empire – something many of the founders including Jefferson stood very much against. In fact we did not even have a truly unified nation until the end of the civil war. However up to that point, our nation committed many acts in complete disregard to the intent of the original revolution. We gained expansion by War – war is economically damaging (unless your a Keynes sympathizer – in which case there is nothing i can do for you), politically chaotic, and socially damaging. Those who believed that a limited republic was as far as the new nation should go knew this all to well having seen it throughout history over and over again.

Second, by teaching the kids that we are a united country in spite of the fact that is not what were trying to be when we broke from England, it teaches them that centralization is a good thing. This wrong is only eclipsed by the fact that they are pledging allegiance to it. Funny how when religious sects do this they are called cults, yet when government does it, it is called law.

Finally, children are taught that the law is the law, and they must obey it. At such a young age, they have little knowledge or experience to tell them whether it is a just reasonable law or not.So it comes about that indoctrination begins when children say a pledge to something when they are still learning how to read and write properly. I am truly sad that so many people see this as correct and justifiable. That’s like forcing someone to swear an oath, telling them that it is for a good cause, and yet enacting a myriad of evils paid for by their labor and never being honest with them about it. Come to think of it – that’s precisely what it is.

Indoctrination – to instruct especially in fundamentals or rudiments; to imbue with a usually partisan or sectarian opinion, point of view, or principle. By very definition, our children are indoctrinated before they are taught anything.

It is sad and utterly pathetic that we employ such nonsense on our children. Bastiat and Jefferson alike warned of this, and yet modern society in all its wisdom continues to ignore such warnings. They never tell the kids about them – and blithely continue on to inflict one social evil upon another in the name of their more ‘enlightened’ teachings. As a result, many people haven’t the faintest clue on why the economy is getting hammered, why we have ongoing wars in nearly every corner of the globe, and why poverty at home continues to rise with the price of everyday goods. In addition it is almost impossible to argue such points, for the masses have been indoctrinated since they learned to read, and can’t bear the idea that there is more out there then what they are told. Indeed, many argue that the old antiquated ideas of those like Spooner, Jefferson, or Bastiat are just that, and that the new way is far more enlightened and rosy.

It is things like this that have caused our empires creation. It is also because of things like this, that its collapse is ensured.

http://peacefreedomprosperity.com/5390/why-the-pledge-of-allegiance-should-be-removed-from-the-schools/The pledge of Allegiance was written by a socialist by the name of Francis Bellamy in... more

shanklinmike
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Independence Day - Time For History To Repeat Itself

by David Shirk on July 4, 2011 in Uncategorized { edit }

July 4th, 1776. A divided continental congress was forced to unite in a cry for independence against England when a handful of the bunch told England that they were through. Subsidies, high taxes, the imprisonment of political renegades, and the favoritism showed by those in power to their favorite producers had gone to far. The declaration was recieved with a myriad or responses, some in shock, others in wounded pride. The sum of the resulting confusion and chaos cannot be crammed into a mere short article so I will spare everyone the history lesson.

In the end, many people died for many different reasons. Some felt it was their duty, some thier wellbeing, and others for a crack at a name for themselves. In the end, a high death toll, an economical disaster, and a fractured idea of what to do next plagued the newly free people. In spite of the odds, the people got back onto their feet, and began to rebuid and regroup.

Less then a decade after the fighting ceased, all of that would come to nothing. Ideas of grandeur began to seep into the heads of the politically powerful. The idea that America needed to become an Empire became the driving factor into the minds of those that held the power, and the rest as they say, is history.

So here we are, celebrating the 235 year old demopublic. The conditions of today are no different that those found in 1776 – high taxes, corpatism, subsidies, iron clad rule, and enough regultation to make a drill sergeant cringe. Of course its not all bad – never was, and until the breaking point is reached, nor will it be. There is a plus side to America’s paciveness to its government, and that is the acknowledgement that violent revolutions only replace one tyrant with another. In point of fact, violent revolutions often bring forward the most misguided, and in the midst of the confusion, grants them power.

Personally I hate the idea that i find myself questioning things to the level that i do. Ignorance in many cases was bliss as it aloud me the simple minded belief that we were doing well as a country, and that we just hit a bump in the road. History is a very disturbing wake up call.

I say we stop this pattern. Nations come and go, and the US is no different having already proved herself more then apt to inheret the ideals of failing societies the world over. The truth is that the colonial experiment was hijacked by the American Experiment – ripped from the hands of the people and turned over to the hands of politicians and bureaucrats.

You see long before the Stars and Stripes, there was liberty, and i have become all to aware of the difference between the two. Many of our so called ‘leaders’ follow in the foosteps in their predecessors. Arrogantly assuming that a law bent on the futile notion of solving the foibles of the human condition was a possible task, they have enacted law upon law on themselves until liberty has become no more then a fleeting vision.

I would like to remind people on this day of where we came from and what made us. After 235 years, its time we grew up, and rid ourselves of the notion that socialism, and statist mindsets are the keys to ‘civilized living’. These are nothing more then theives shaking right hands with you and robbing you with their left. The truth is that no Nation nor Empire can ever exist in pusruance with the ideals of liberty – for that is something that can only truly be had and maintained by the individual.

So lets have a revolution. Screw the state and the horse it rode in on. Its power is great only because it carries the threat and use of force. Yet the people hold a far greated power – one that never ceases to rise against the odds and overcome, and that is the power of individuals truly united upon the foundations of human rights. Violence is not the answer and will solve nothing. You cannot force your fellow man to your views – thats the states job. So be better then that – set an example. Show them by example that civilization needs no force to exist save that used in true defense. Educate yourselves and never stop, for in the end, it will yeild far more benefit then gold.

In the immortal words of Frederic Bastiat “Away, then, with quacks and organizers! Away with their rings, and their chains, and their hooks, and their pincers! Away with their artificial methods! Away with their social laboratories, their governmental whims, their centralization, their tariffs, their universities, their State religions, their inflationary or monopolizing banks, their limitations, their restrictions, their moralizations, and their equalization by taxation! And now, after having vainly inflicted upon the social body so many systems, let them end where they ought to have begun—reject all systems, and try liberty” – The Law.

http://peacefreedomprosperity.com/5368/independence-day-time-for-history-to-repeat-itself/by David Shirk on July 4, 2011 in Uncategorized { edit } July 4th, 1776. A divided... more