Archive for November 19th, 2010

Boondock Saints–Videos

Posted on November 19, 2010. Filed under: Blogroll, Culture, Entertainment, Law, liberty, Links, media, Movies, People, Philosophy, Politics, Psychology, Religion, Video, Wisdom | Tags: , , , , , |

Boondock Saints Part 1


Boondock Saints Part 2


Boondock Saints Part 3


Boondock Saints Part 4


Boondock Saints Part 5


Boondock Saints Part 6

Boondock Saints Part 7

Boondock Saints Part 8

Boondock Saints Part 9

Boondock Saints Part 10


Boondock Saints Part 11

Related Posts On Pronk Palisades



Boondock Saints–Videos

A Brave New World–Videos

Battle of Waterloo–Videos

Before The Fall or Napola–Videos

The Chronicles of Narnia–Videos

The Chronicles Of Narnia – Prince Caspian–Videos

The Fall of The Roman Empire–Videos

Dr. Strangelove–Videos


Ghostbusters 2–Videos

Rain Drops Keep Falling Upon My Head–40th Anniversity of The Release of Butch Cassidy and The Sundance Kid


Hitler: The Rise of Evil–Videos

Me and The Colonel–Videos

Outer Limits – Dead Man’s Switch –Videos


Pulp Fiction–Videos

Richard The Lionheart–Videos

Saving Private Ryan–Video

The Hitler Gang–Videos

The Patriot–Videos

The Wave–Videos

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A Failure of Vision and Will To Downsize The Federal Government

Posted on November 19, 2010. Filed under: Banking, Blogroll, Business, Communications, Culture, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, Immigration, Investments, Language, Law, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Taxes, Transportation, Video, War, Wisdom | Tags: , , , , |

Budget Watchdogs Warn of Worsening Deficit, Explore Strategies to Cut

The problem with all proposals coming out of those who have worked in Washington is they never want to close entire Federal Departments, which has to be done.

Instead they propose another new tax.

Forget it.

“We cannot cut enough!”


Nonsense Senator, close ten Federal Departments now.

Pronk Plan

1. Six month Federal payroll tax holiday to transition from a Federal Income Tax to the FairTax.

2. Implement the FairTax at the end of the tax holiday.

3. Limit Federal expenditures for on and off budgets to 80% of FairTax collections with the remaining 20% to pay down the debt.

4. Cut by 20% the Defense and Homeland Security Departments.

5. Individual ownership and control of their Social Security account and Medicare health insurance plan.

6. Close ten Federal Department as follows:

1. Agriculture

2. Commerce

3. Education

4. Energy

5. Health and Human Resources

6. Housing and Urban Development

7. Labor

8. Interior

9. Transportation

10. Veterans Affairs.

The likelihood of this happening is zero.


The political parties are captured and controlled by those who hire the lobbyists on K Street.

Neither the Republican nor Democratic Party will be getting my vote.

Time for new leaders and a new party.

The American people know the above must be done.

The political elites are a lost cause.

If the above is not done it is only a matter of time until  the U.S. defaults on its debt.



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Glenn Beck On Counting Your Blessings–Videos

Posted on November 19, 2010. Filed under: Blogroll, Books, Communications, Economics, Education, Employment, government, government spending, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Religion, Taxes, Video, Wisdom |

Glenn Beck Part 1 – Count Your Blessings 11/19/2010


Glenn Beck Part 2 – Count Your Blessings 11/19/2010


Glenn Beck Part 3 – Count Your Blessings 11/19/2010

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Soviet Subversion of the Free World Press–Videos

Posted on November 19, 2010. Filed under: Blogroll, Business, Communications, Economics, Education, Employment, Federal Government, Foreign Policy, government, government spending, history, Immigration, Investments, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Religion, Science, Taxes, Technology, War, Wisdom | Tags: , |

Soviet Subversion of the Free World Press 1/9


Soviet Subversion of the Free World Press 2/9


Soviet Subversion of the Free World Press 3/9


Soviet Subversion of the Free World Press 4/9


Soviet Subversion of the Free World Press 5/9


Soviet Subversion of the Free World Press 6/9


Soviet Subversion of the Free World Press 7/9


Soviet Subversion of the Free World Press 8/9


Soviet Subversion of the Free World Press 9/9

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Bernanke Blames Chinese Government Intervention As Justification For Fed Government Intervention In Treasury Bond Market–Massive U.S. Deficit Debt Financing Monetized By Fed!–Videos

Posted on November 19, 2010. Filed under: Banking, Blogroll, Business, College, Communications, Economics, Education, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Resources, Talk Radio, Video, Wisdom | Tags: , , , , , |

“The effect of its interference is that people are prevented from using their knowledge and abilities, their labor and their material means of production in the way in which they would earn the highest returns and satisfy their needs as much as possible. Such interference makes people poorer and less satisfied.”

“The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution.”

~Ludwig von Mises


 Fed Chairman Bernanke: US Risks Massive Unemployment


Fed Chairman Defends QE2, Attacks China


McCullough Says Bernanke Losing `Politicized Blame Game’ 


Ron Paul to Fed: All You Can Do is Print Money – And It Doesn’t Do Any Good!



Currency Wars & China


Video: Weekly Asia focus: China’s rate hike speculation


Markets, inflation, China, Buffett, GM


The United States Will Monetize the Debt (And Here’s Why…)

Chairman Ben S. Bernanke

At the Sixth European Central Bank Central Banking Conference, Frankfurt, Germany

November 19, 2010

Rebalancing the Global Recovery


“…Given these advantages of a system of market-determined exchange rates, why have officials in many emerging markets leaned against appreciation of their currencies toward levels more consistent with market fundamentals? The principal answer is that currency undervaluation on the part of some countries has been part of a long-term export-led strategy for growth and development. This strategy, which allows a country’s producers to operate at a greater scale and to produce a more diverse set of products than domestic demand alone might sustain, has been viewed as promoting economic growth and, more broadly, as making an important contribution to the development of a number of countries. However, increasingly over time, the strategy of currency undervaluation has demonstrated important drawbacks, both for the world system and for the countries using that strategy.

First, as I have described, currency undervaluation inhibits necessary macroeconomic adjustments and creates challenges for policymakers in both advanced and emerging market economies. Globally, both growth and trade are unbalanced, as reflected in the two-speed recovery and in persistent current account surpluses and deficits. Neither situation is sustainable. Because a strong expansion in the emerging market economies will ultimately depend on a recovery in the more advanced economies, this pattern of two-speed growth might very well be resolved in favor of slow growth for everyone if the recovery in the advanced economies falls short. Likewise, large and persistent imbalances in current accounts represent a growing financial and economic risk.

Second, the current system leads to uneven burdens of adjustment among countries, with those countries that allow substantial flexibility in their exchange rates bearing the greatest burden (for example, in having to make potentially large and rapid adjustments in the scale of export-oriented industries) and those that resist appreciation bearing the least.

Third, countries that maintain undervalued currencies may themselves face important costs at the national level, including a reduced ability to use independent monetary policies to stabilize their economies and the risks associated with excessive or volatile capital inflows. The latter can be managed to some extent with a variety of tools, including various forms of capital controls, but such approaches can be difficult to implement or lead to microeconomic distortions. The high levels of reserves associated with currency undervaluation may also imply significant fiscal costs if the liabilities issued to sterilize reserves bear interest rates that exceed those on the reserve assets themselves. Perhaps most important, the ultimate purpose of economic growth is to deliver higher living standards at home; thus, eventually, the benefits of shifting productive resources to satisfying domestic needs must outweigh the development benefits of continued reliance on export-led growth. …”

As currently constituted, the international monetary system has a structural flaw: It lacks a mechanism, market based or otherwise, to induce needed adjustments by surplus countries, which can result in persistent imbalances. This problem is not new. For example, in the somewhat different context of the gold standard in the period prior to the Great Depression, the United States and France ran large current account surpluses, accompanied by large inflows of gold. However, in defiance of the so-called rules of the game of the international gold standard, neither country allowed the higher gold reserves to feed through to their domestic money supplies and price levels, with the result that the real exchange rate in each country remained persistently undervalued. These policies created deflationary pressures in deficit countries that were losing gold, which helped bring on the Great Depression.3 The gold standard was meant to ensure economic and financial stability, but failures of international coordination undermined these very goals. Although the parallels are certainly far from perfect, and I am certainly not predicting a new Depression, some of the lessons from that grim period are applicable today.4 In particular, for large, systemically important countries with persistent current account surpluses, the pursuit of export-led growth cannot ultimately succeed if the implications of that strategy for global growth and stability are not taken into account.

Thus, it would be desirable for the global community, over time, to devise an international monetary system that more consistently aligns the interests of individual countries with the interests of the global economy as a whole. In particular, such a system would provide more effective checks on the tendency for countries to run large and persistent external imbalances, whether surpluses or deficits. Changes to accomplish these goals will take considerable time, effort, and coordination to implement. In the meantime, without such a system in place, the countries of the world must recognize their collective responsibility for bringing about the rebalancing required to preserve global economic stability and prosperity. I hope that policymakers in all countries can work together cooperatively to achieve a stronger, more sustainable, and more balanced global economy. …”



Bernanke Takes Aim at China


“…Federal Reserve Chairman Ben Bernanke fired back amid criticism at home and abroad of the Fed’s easy-money policies, arguing that China and others are causing global problems by preventing their currencies from strengthening as their economies boom.

Bernanke fired back at critics upset with the Fed’s new stimulus plan, arguing that China and other nations are causing problems by preventing their currencies from strengthening. Jon Hilsenrath, Evan Newmark and Dennis Berman discuss. And Brett Arends discusses the oddly behaving market for muni bonds, whose yields rose above not only Treasurys but also above some corporate bonds.

By keeping their currencies artificially weak, Mr. Bernanke argued in Frankfurt Friday, China and other emerging markets are allowing their economies to overheat, preventing trade imbalances from adjusting and worsening what he called a “two-speed” global recovery.

Their “strategy of currency undervaluation” is preventing more “balanced and sustainable” global growth, he warns, echoing a view expressed by Obama Administration officials.

Mr. Bernanke has come under attack for the Fed’s decision to purchase $600 billion in U.S. Treasury bonds in an effort to drive down long-term interest rates. Critics in the U.S say it could cause inflation. Critics abroad say the flood of dollars that the Fed is effectively printing to finance its bond purchases is pouring into overseas markets and could cause asset bubbles.

Some also have accused the Fed of trying to weaken the dollar to spur U.S. exports.

Fed officials have denied that is their goal, though Mr. Bernanke effectively acknowledged the U.S. currency should weaken against currencies in emerging markets, because their economies are growing so much faster than economies in the developed world.

The Fed chairman’s message, though scholarly in tone, was unusually blunt in laying blame for inflationary pressures in emerging markets and for tensions over currencies on countries like China. A chart accompanying his comments also pinpoints Taiwan, Singapore and Thailand as aggressively trying to hold their currencies down, while India, Chile and Turkey aren’t. …”

Why Fed bond-buying plan is raising trade tensions



Ron Paul: Bring the Troops Home, End the Welfare State, Stop Monetizing Debt

Global Fiat Currency will be Derailed by Free Markets and Nationalism

Bernanke Perjury?

The Shell Game – How the Federal Reserve is Monetizing Debt

“…The Federal Reserve has effectively been monetizing far more US government debt than has openly been revealed, by cleverly enabling foreign central banks to swap their agency debt for Treasury debt. This is not a sign of strength and reveals a pattern of trading temporary relief for future difficulties.

This is very nearly the same path that Zimbabwe took, resulting in the complete abandonment of the Zimbabwe dollar as a unit of currency. The difference is in the complexity of the game being played, not the substance of the actions themselves.

When the full scope of this program is more widely recognized, ever more pressure will fall upon the dollar, as more and more private investors shun the dollar and all dollar-denominated instruments as stores of value and wealth. This will further burden the efforts of the various central banks around the world as they endeavor to meet the vast borrowing desires of the US government.

One possible result of the abandonment of these efforts is a wholesale flight out of the dollar and into other assets. To US residents, this will be experienced as rapidly rising import costs and increasing costs for all internationally-traded basic commodities, especially food items. For the rest of the world, the results will range from discomforting to disastrous, depending on their degree of dollar linkage.

Under these circumstances, “inflation vs. deflation” is not the right frame of reference for understanding the potential impacts. For example, it would be possible for most of the world to experience falling prices, even as the US experiences rapidly rising prices (and hikes in interest rates) as a consequence of a falling dollar. Is this inflation or deflation? Both, or neither? Instead, we might properly view it as a currency crisis, with prices along for the ride.

Further, all efforts to supplant private debt creation with public debts should be met with skepticism, because gigantic programs are no substitute for the collective decisions of tens of millions of individuals and cannot realistically meet millions of individual needs in a timely or appropriate manner.

The shell game that the Fed is currently playing does not change the basic equation: Money is being printed out of thin air so that it can be used to buy US government debt. …”

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