94 Million Americans Not In Labor Force, Labor Participation Rate Stuck At 62.6% A 38 Year Low, Unemployment Rate Declines To 5.1% –8 Million Unemployed — Fed Will Increase Federal Funds Target Rate to .5% In September — Three Years Late As Usual — Call It Clueless PHDs Lag — Videos

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The Pronk Pops Show Podcasts

Pronk Pops Show 527: September 4, 2015 

Pronk Pops Show 526: September 3, 2015  

Pronk Pops Show 525: September 2, 2015 

Pronk Pops Show 524: August 31, 2015  

Pronk Pops Show 523: August 27, 2015  

Pronk Pops Show 522: August 26, 2015 

Pronk Pops Show 521: August 25, 2015 

Pronk Pops Show 520: August 24, 2015 

Pronk Pops Show 519: August 21, 2015 

Pronk Pops Show 518: August 20, 2015  

Pronk Pops Show 517: August 19, 2015 

Pronk Pops Show 516: August 18, 2015

Pronk Pops Show 515: August 17, 2015

Pronk Pops Show 514: August 14, 2015

Pronk Pops Show 513: August 13, 2015

Pronk Pops Show 512: August 12, 2015

Pronk Pops Show 511: August 11, 2015

Pronk Pops Show 510: August 10, 2015

Pronk Pops Show 509: July 24, 2015

Pronk Pops Show 508: July 20, 2015

Pronk Pops Show 507: July 17, 2015

Pronk Pops Show 506: July 16, 2015

Pronk Pops Show 505: July 15, 2015

Pronk Pops Show 504: July 14, 2015

Pronk Pops Show 503: July 13, 2015

Pronk Pops Show 502: July 10, 2015

Pronk Pops Show 501: July 9, 2015

Pronk Pops Show 500: July 8, 2015

Pronk Pops Show 499: July 6, 2015

Pronk Pops Show 498: July 2, 2015

Pronk Pops Show 497: July 1, 2015

Pronk Pops Show 496: June 30, 2015

Pronk Pops Show 495: June 29, 2015

Pronk Pops Show 494: June 26, 2015

Pronk Pops Show 493: June 25, 2015

Pronk Pops Show 492: June 24, 2015

Pronk Pops Show 491: June 23, 2015

Pronk Pops Show 490: June 22, 2015

Pronk Pops Show 489: June 19, 2015

Pronk Pops Show 488: June 18, 2015

Pronk Pops Show 487: June 17, 2015

Pronk Pops Show 486; June 16, 2015

Pronk Pops Show 485: June 15, 2015

Pronk Pops Show 484: June 12, 2015

Pronk Pops Show 483: June 11, 2015

Pronk Pops Show 482; June 10, 2015

Pronk Pops Show 481: June 9, 2015

Pronk Pops Show 480: June 8, 2015

Pronk Pops Show 479: June 5, 2015

Pronk Pops Show 478: June 4, 2015

Pronk Pops Show 477: June 3, 2015

Pronk Pops Show 476: June 2, 2015

Pronk Pops Show 475: June 1, 2015

Story 1: 94 Million Americans Not In Labor Force, Labor Participation Rate Stuck At 62.6% A 38 Year Low, Unemployment Rate Declines To 5.1% –8 Million Unemployed — Fed Will Increase Federal Funds Target Rate to .5% In September — Three Years Late As Usual — Call It Clueless PHDs Lag — Videos

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Pin and Bubble

U.S. Stocks Suffer Heavy Losses After Mixed Jobs Report

August Jobs Report Provides Mixed Message

US Economy Riding 66 Month Job Growth Streak

What to Watch Friday: Labor Department Releases August Jobs Report

Peter Schiff: U.S. problems are ‘homegrown’, China is not the problem

Peter Schiff: The U.S. Dollar is very overvalued and the dollar is a bubble

No Fed Rate Hike Coming, They Never Intended To

[yotuube=https://www.youtube.com/watch?v=F__CMQahfm4]

Fed Refuses to Acknowledge Data Has Been Awful All Year

September 4, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

Keiser Report: Rule 48 (E806)

Record 94,031,000 Americans Not in Labor Force; Participation Rate Stuck at 38-Year Low for 3rd Straight Month

By Susan Jones | September 4, 2015 | 8:54 AM EDT
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The labor force participation rate stayed stuck at 62.6 percent, a 38-year low, for a third straight month in August, the Labor Department reported on Friday. (AP File Photo)

(CNSNews.com) – A record 94,031,000 Americans were not in the American labor force last month — 261,000 more than July — and the labor force participation rate stayed stuck at 62.6 percent, a 38-year low, for a third straight month in August, the Labor Department reported on Friday, as the nation heads into the Labor Day weekend.

The number of Americans not in the labor force has continued to rise, partly because of retiring baby-boomers and fewer workers entering the workforce.

In August, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 251,096,000. Of those, 157,065,000 participated in the labor force by either holding a job or actively seeking one.

The 157,065,000 who participated in the labor force equaled only 62.6 percent of the 251,096,000 civilian noninstitutional population — the same as it was in July and June. Not since October 1977, when the participation rate dropped to 62.4, has the percentage been this low.

Historical perspective

In January 1948 — the first year the data was recorded — 88.7 percent of men, aged 20 and older, were participating in the U.S. labor force. The rate first dipped below 80 percent in November 1975 (79.9%), spiraling steadily downward through August 2015, when 71.5 percent of men 20 and older were participating in the labor force.

It’s the opposite story for women 20 and older: In 1948, a time when one-earner incomes were generally sufficient to support the family, only 31 percent of  women participated in the workforce. In May 1966, the rate climbed above 40 percent for the first time; it broke 50 percent in October 1978; and 60 percent in July 1996.

When Barack Obama took office in January 2009, 60.9 percent of women were particiating in the labor force, but after rising somewhat in that economically turbulent year, the particpation rate for women started heading down. Last month, it stood at 58.2 percent.

Other notes from Friday’s jobs report:

— In August, the economy added 173,000 jobs, and the uemmployment rate dropped a tenth of a point to 5.1 percent from 5.2 percent. Job gains occurred in health care and social assistance and in financial activities. Manufacturing and mining lost jobs.

— Among the major demographic groups, the unemployment rate for whites declined to 4.4 percent in August. The rates for adult men (4.7 percent), adult women (4.7 percent), teenagers (16.9 percent), blacks (9.5 percent), Asians (3.5 percent), and Hispanics (6.6 percent) showed little change in August.

— The number of long-term unemployed (those jobless for 27 weeks or more) held at 2.2 million in August and accounted for 27.7 percent of the unemployed. Over the past 12 months, the number of long-term unemployed is down by 779,000.

— The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) ticked up in August to 6,483,000, 158,000 more than the 6,325,000 recorded in July. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.

http://cnsnews.com/news/article/susan-jones/record-94031000-americans-not-labor-force-participation-rate-stuck-38-year

Unemployment rate plunge

Akin Oyedele

The US unemployment rate is at a seven-year low.

The economy added 173,000 jobs last month, fewer than expected, while the unemployment rate fell to 5.1% from 5.3%, according to the Bureau of Labor Statistics.

We also got some wage growth, with average hourly earnings rising 0.3% month-over-month and 2.5% year-on-year.

The number of job gains in July was revised up to 245,000 from 215,000.

As we outlined earlier, this report was expected to hugely influence market expectations for whether the Federal Reserve will raise interest rates at its meeting later this month. A strong report was seen to support other data we’ve recently received that show the economy is advancing at a steady pace — probably steady enough to warrant the first rate increase in a decade.

In a speech just before the jobs report, Richmond Fed president Jeffrey Lacker said the labor market supported the case for raising rates sooner rather than later. But this report was unlikely to “materially alter the labor market picture or, for that matter, the monetary policy outlook.”

Screen Shot 2015 09 04 at 10.35.44 AMBLS

Also, even though inflation is still off the Fed’s 2% target, wage growth was expected to boost confidence that it is on its way there.

Other secondary labor-market indicators had pointed to strong gains in August, including initial jobless claims, and the employment components of ISM manufacturing indexes.

And it turns out, history repeated itself. Deutsche Bank’s Joe Lavorgna had noted that job gains in August had missed consensus forecasts in 21 out of the past 27 years. He had forecast a payroll print of 170,000, below consensus and closer to the actual print.

By industry, employment in mining and manufacturing declined, while education and health services added the most jobs for any industry, at 62,000.

Stocks fell after the jobs report, and Dow futures lost more than 200 points.

Here’s what Wall Street was expecting, via Bloomberg:

  • Nonfarm payrolls: +217,000
  • Unemployment rate: 5.2%
  • Average hourly earnings, month-over-month: +0.2%
  • Average hourly earnings, year-over-year: +2.1%
  • Average weekly hours worked: 34.5

fredgraph

FREDAt 5.1%, the unemployment rate is at the lowest level since April 2008.

http://www.businessinsider.com/august-jobs-report-september-4-2015-9#ixzz3koMkR04q

August Jobs Report: Everything You Need to Know

Welcome to “Jobs Friday,” that ever-so-brief moment when the interests of Wall Street, Washington and Main Street are all aligned on one thing: jobs.

Friday’s report was even more significant than usual, since it’s the last one officials from the Federal Reserve will see before they meet later this month to debate a potential interest-rate hike. A rate increase, if and when it comes, would be the first for the U.S. since 2006.

When the numbers came in at 8:30 a.m. New York time, they potentially muddied the waters instead of providing clarity. The Bureau of Labor Statistics  said nonfarm payrolls rose a seasonally adjusted 173,000, well short of the 220,000 predicted by economists surveyed by The Wall Street Journal. But the unemployment rate fell to 5.1% from 5.3%, and some of the other underlying numbers painted a rosier picture.

Here at MoneyBeat HQ, we crunched the data, tracked the markets and compiled the commentary in real time. Here’s how it all went down.

  • Good morning, folks. This is a big one. It’s the last jobs report before Federal Reserve officials sit down for their crucial Sept. 16-17 meeting to debate a potential rate hike—the first for the U.S. since 2006.

    The key question: Fed policy makers in July said they were looking for “some” further improvement in the labor market before raising rates. But how much improvement qualifies as “some?”

    Employers have added on average 211,000 jobs a month this year and the jobless rate has dropped 0.4 percentage point. Will that be enough to seal the deal? We won’t definitively know the answer today. But the economists, strategist and traders who plan to pour over every detail of this data dump are certainly going to try to guess.

    • 6:37 am
    • The debate won’t be settled

    Fed officials have been struggling to come to a common view on whether to raise short-term rates for the first time in nearly a decade at its September policy meeting. A strong report will strengthen the hand of officials arguing to raise rates in September; a weak report will strengthen the hands of officials who want to keep them near zero. Whether weak, strong or right down the middle, the numbers are going to leave some questions unanswered and doubts in the air.

    • 6:38 am
    • Economists on the fence

    In early August, 82% of economists in The Wall Street Journal’s monthly forecasting survey thought the Fed’s policy-setting committee would raise interest rates at its meeting Sept. 16 and 17. But financial-market turmoil over the past few weeks has altered those odds. Now, economists as a group are on the fence on whether the Fed moves—some say probably yes, others probably no, others give even chances.

    • 6:43 am
    • What this means for liftoff

    Market turbulence around the world the past two weeks has raised the bar for a September rate increase.

    As we wrote about in Friday’s Morning MoneyBeat, the Fed has long said strength in the labor market is key to its decision to raise rates. And for several months, economists have expected the August Nonfarm Payrolls report to provide the final go ahead for the central bank.

    But, amid market volatility and continued low inflation, the Fed has more to consider than just the jobs report.

    • 6:44 am
    • Ugly market mood greets jobs report

    Well, this is unusual. Most of these Jobs Friday days sees stock market idling ahead of the report. Not today. Futures are down sharply, taking their cues from Europe and Asia.

    U.K. stocks are down 1.6%, and every other major market is in the red, too. The CAC-40 and Dax are both off 2.1%. In Asia, Chinese marekts are still closed for the holiday, but everything else is down. The Nikkei is off 2.2%. The Kospi is down 1.5%, and India’s Sensex is down 2.2%.

    U.S. futures are down sharply. S&P 500 futures are down 18.5, and Dow futures are down 167.

    The yield on the U.S. 10-year Treasury note has fallen to 2.14%, and WTI crude is down 0.7% at $46.43.

    Does the market even care about the jobs report? Well, of course it does, and this one particularly. But the market is also caught in the vise grip of a global convulsion. The selloff has its own momentum, and it may wash right over this jobs report, no matter what the numbers say.

    • 6:48 am
    • The August report has fallen short of expectations in 21 of the last 27 years

    Ahead of the report, some economists have been warning that the first read has a history of falling short of expectations — only to get revised higher in the two subsequent months. The problem for the Fed is that it won’t see those revisions before its meeting later this month.

    As we detailed earlier this week, economists at Deutsche Bank found that the August report has fallen short of expectations in 21 of the last 27 years, missing by an average 61,000. The tendency for August figures to miss (or for economists to over-predict) has Deutsche Bank forecasting a net gain of 170,000 jobs for the month. That’s a fair amount less than the median estimate of 220,000 from economists surveyed by The Wall Street Journal.

    Yet Wrightson ICAP found that August payrolls are the ones that get the biggest upward revisions. The final read that comes out two months later has been higher than the initial read in eight of the last nine Augusts – and by a not-insignificant amount of 66,000.

    • 6:50 am
    • The perfect number

    You have to figure there’s some kind of number that would hit an equilibrium spot in terms of trader sentiment. Something weak enough to get the market thinking the Fed’s going to hold off, but not so weak that you have to start worrying about a global economic meltdown.

    I’d reckon something around 150,000 might do it. Maybe a little higher.

    • 6:52 am
    • Jobs’ weight in Fed’s decision on rates

    The Fed has continuously said it will up interest rates when the data supports it. And it has placed more emphasis on the strength of the labor market versus other factors like inflation.

    But now, as markets have become more volatile since the Fed last met in July and since the last employment report was released at the beginning of August, Steven Englander, global head of G10 foreign exchange strategy at Citigroup Inc., thinks payrolls hold less weight in the Fed’s decision.

    “After the July FOMC, we thought that the Fed lift-off decision was 75% NFP [Nonfarm payrolls] and 25% everything else,” he said. “Now we would think that the September lift-off decision is 40% NFP and 60% everything else.”

    • 6:55 am
    • Watch the wage data

    Among the topics we flagged as worth watching when the report hits: wages.

    A continuing concern for the Fed has been the slow rise in wages despite the consistent increase in the number of jobs. The July jobs report found that the rise in hourly pay of nonsupervisory employees has been slowing. In July, earnings were 1.84% higher than a year ago, down from a 2% annual increase in earnings recorded in May. Friday’s report could hint at whether this slowdown is a momentary blip or a sign of something more lasting.

    • 6:56 am
    • People still on the sidelines

    In addition, many Americans who dropped out of the workforce in the aftermath of the recession have yet to make their way back. In July, 62.6% of those ages 16 and over were either working or looking for work, the lowest level since 1977. While some of that drop is due to the retirement of baby boomers, it’s clear many people are still sitting on the sidelines.

    • 6:57 am
    • Hawkish Lacker speech coming in ahead of the jobs report

    As if the market didn’t have enough to contend with, there is a Fed speech ahead of the jobs report, and we can already tell you it won’t be taking September off the table.

    Jeffrey Lacker, president of the Richmond Fed, is speaking at 8:10 a.m., in Richmond. He’s talking to the Retail Merchants Association. We haven’t seen the prepared remarks, but we don’t really need to. The title of the speech tells you everything you need to know: “The Case Against Further Delay.”

    Now, Lacker is one of the Fed’s most hawkish officials to begin with, so the angle isn’t unexpected. Still, those will not be comforting headlines for the bulls.

    • 7:03 am
    • Another thought on the “right” number

    Citi’s Steven Englander has also pondered the equilibrium number, and he pegs it a bit higher than I did: 175,000-200,000. “Strong enough to be regarded as firm by markets (post expected revision) but weak enough for them to delay liftoff.”

    He breaks it down further:

    … 175,000-200,000 – strong enough to be regarded as firm by markets (post expected revision) but weak enough maybe for them to delay liftoff- so USD falls in G3, but global asset markets maybe calmer.

    Worst number for EM – very strong +230,000 with upward revisions – Sept back in picture and CNY depreciation tensions increase – good for USD in G3 as well but that is not the story.

    Terrible number below 175,000 with downward revisions – certainly bad for USD within G3, but growth pessimism may take down all asset markets.

    Pretty good but not great – 200,000-230,000 with modest revision – would normally be good enough for Fed to move but now is not ‘normally’ — would be USD positive in G3 and EM – could see some divergence between US asset markets (ok) and EM (not so okay).

    Despite published consensus of 217,000, there is so much discussion of downward bias and upward revisions that above 200,000 should probably be considered upside surprise.

    I’d add only that a big factor in arriving at the “right” number is trying to figure out just how much growth the Fed will need to see to satisfy it. I personally think the bar is pretty low, which is why I came up with a lower number.

    http://blogs.wsj.com/moneybeat/2015/09/04/august-jobs-report-everything-you-need-to-know/

    Employment Situation Summary

    Transmission of material in this release is embargoed until          USDL-15-1697
    8:30 a.m. (EDT) Friday, September 4, 2015
    
    Technical information:
     Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
     Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces
    
    Media contact:         (202) 691-5902  *  PressOffice@bls.gov
    
    
                         THE EMPLOYMENT SITUATION -- AUGUST 2015
    
    
    Total nonfarm payroll employment increased by 173,000 in August, and the 
    unemployment rate edged down to 5.1 percent, the U.S. Bureau of Labor Statistics 
    reported today. Job gains occurred in health care and social assistance and in 
    financial activities. Manufacturing and mining lost jobs.
    
    Household Survey Data
    
    In August, the unemployment rate edged down to 5.1 percent, and the number of 
    unemployed persons edged down to 8.0 million. Over the year, the unemployment 
    rate and the number of unemployed persons were down by 1.0 percentage point 
    and 1.5 million, respectively. (See table A-1.) 
    
    Among the major worker groups, the unemployment rate for whites declined to 
    4.4 percent in August. The rates for adult men (4.7 percent), adult women
    (4.7 percent), teenagers (16.9 percent), blacks (9.5 percent), Asians
    (3.5 percent), and Hispanics (6.6 percent) showed little change in August.
    (See tables A-1, A-2, and A-3.)
    
    The number of persons unemployed for less than 5 weeks decreased by 393,000 
    to 2.1 million in August. The number of long-term unemployed (those jobless 
    for 27 weeks or more) held at 2.2 million in August and accounted for 27.7 
    percent of the unemployed. Over the past 12 months, the number of long-term 
    unemployed is down by 779,000. (See table A-12.)
    
    In August, the civilian labor force participation rate was 62.6 percent for 
    the third consecutive month. The employment-population ratio, at 59.4 percent, 
    was about unchanged in August and has shown little movement thus far this 
    year. (See table A-1.)
    
    The number of persons employed part time for economic reasons (sometimes 
    referred to as involuntary part-time workers) was little changed in August 
    at 6.5 million. These individuals, who would have preferred full-time 
    employment, were working part time because their hours had been cut back or 
    because they were unable to find a full-time job. (See table A-8.)
    
    In August, 1.8 million persons were marginally attached to the labor force, 
    down by 329,000 from a year earlier. (The data are not seasonally adjusted.) 
    These individuals were not in the labor force, wanted and were available 
    for work, and had looked for a job sometime in the prior 12 months. They 
    were not counted as unemployed because they had not searched for work in 
    the 4 weeks preceding the survey. (See table A-16.)
    
    Among the marginally attached, there were 624,000 discouraged workers in 
    August, down by 151,000 from a year earlier. (The data are not seasonally 
    adjusted.) Discouraged workers are persons not currently looking for work 
    because they believe no jobs are available for them. The remaining 1.2 
    million persons marginally attached to the labor force in August had not 
    searched for work for reasons such as school attendance or family 
    responsibilities. (See table A-16.)
    
    Establishment Survey Data
    
    Total nonfarm payroll employment rose by 173,000 in August. Over the prior 
    12 months, employment growth had averaged 247,000 per month. In August, job 
    gains occurred in health care and social assistance and in financial 
    activities. Employment in manufacturing and mining declined. (See 
    table B-1.)
    
    Health care and social assistance added 56,000 jobs in August. Health care 
    employment increased by 41,000 over the month, with job growth occurring in 
    ambulatory health care services (+21,000) and hospitals (+16,000). Employment 
    rose by 16,000 in social assistance, which includes child day care services 
    and services for the elderly and disabled. Over the year, employment has 
    risen by 457,000 in health care and by 107,000 in social assistance.
    
    In August, financial activities employment increased by 19,000, with job 
    gains in real estate (+8,000) and in securities, commodity contracts, and 
    investments (+5,000). Over the year, employment in financial activities has 
    grown by 170,000. 
    
    Employment in professional and business services continued to trend up in 
    August (+33,000) and has increased by 641,000 over the year.
    
    Employment in food services and drinking places continued on an upward trend 
    in August (+26,000), in line with its average monthly gain of 31,000 over 
    the prior 12 months.
    
    Manufacturing employment decreased by 17,000 in August, after changing little 
    in July (+12,000). Job losses occurred in a number of component industries, 
    including fabricated metal products and food manufacturing (-7,000 each). 
    These losses more than offset gains in motor vehicles and parts (+6,000) and 
    in miscellaneous durable goods manufacturing (+4,000). Thus far this year, 
    overall employment in manufacturing has shown little net change.
    
    Employment in mining fell in August (-9,000), with losses concentrated in 
    support activities for mining (-7,000). Since reaching a peak in December 2014, 
    mining employment has declined by 90,000. 
    
    Employment in other major industries, including construction, wholesale 
    trade, retail trade, transportation and warehousing, and government, 
    showed little change over the month.
    
    The average workweek for all employees on private nonfarm payrolls edged up 
    by 0.1 hour to 34.6 hours in August. The manufacturing workweek was unchanged 
    at 40.8 hours, and factory overtime edged down by 0.1 hour to 3.3 hours. The 
    average workweek for production and nonsupervisory employees on private 
    nonfarm payrolls was unchanged at 33.7 hours. (See tables B-2 and B-7.)
    
    In August, average hourly earnings for all employees on private nonfarm 
    payrolls rose by 8 cents to $25.09, following a 6-cent gain in July. Hourly 
    earnings have risen by 2.2 percent over the year. Average hourly earnings 
    of private-sector production and nonsupervisory employees increased by 5 
    cents to $21.07 in August. (See tables B-3 and B-8.)
    
    The change in total nonfarm payroll employment for June was revised from 
    +231,000 to +245,000, and the change for July was revised from +215,000 to 
    +245,000. With these revisions, employment gains in June and July combined 
    were 44,000 more than previously reported. Over the past 3 months, job 
    gains have averaged 221,000 per month.
    
    _____________
    The Employment Situation for September is scheduled to be released on 
    Friday, October 2, 2015, at 8:30 a.m. (EDT).
    
    
    
        ----------------------------------------------------------------------------
       |                                                                            |
       |           2015 CES Preliminary Benchmark Revision to be released           |
       |                         on September 17, 2015                              |
       |                                                                            |
       | Each year, the Current Employment Statistics (CES) survey estimates are    |
       | benchmarked to comprehensive counts of employment from the Quarterly       |
       | Census of Employment and Wages (QCEW) for the month of March. These counts |
       | are derived from state unemployment insurance (UI) tax records that nearly |
       | all employers are required to file. On September 17, 2015, at 10:00 a.m.   |
       | (EDT), the Bureau of Labor Statistics (BLS) will release the preliminary   |
       | estimate of the upcoming annual benchmark revision to the establishment    |
       | survey employment series. This is the same day the First Quarter 2015 data |
       | from the QCEW will be issued. Preliminary benchmark revisions for all      |
       | major industry sectors, as well as total nonfarm and total private levels, |
       | will be available on the BLS website at                                    |
       | www.bls.gov/web/empsit/cesprelbmk.htm.                                     |
       |                                                                            |
       | The final benchmark revision will be issued with the publication of the    |
       | January 2016 Employment Situation news release in February.                |
       |                                                                            |
        ----------------------------------------------------------------------------
    
    
    
    
    • Access to historical data for the “A” tables of the Employment Situation Release
    • Access to historical data for the “B” tables of the Employment Situation Release
    • HTML version of the entire news release

      Employment Situation Summary Table A. Household data, seasonally adjusted

      HOUSEHOLD DATA
      Summary table A. Household data, seasonally adjusted

      [Numbers in thousands]
      Category Aug.
      2014
      June
      2015
      July
      2015
      Aug.
      2015
      Change from:
      July
      2015-
      Aug.
      2015

      Employment status

      Civilian noninstitutional population

      248,229 250,663 250,876 251,096 220

      Civilian labor force

      156,018 157,037 157,106 157,065 -41

      Participation rate

      62.9 62.6 62.6 62.6 0.0

      Employed

      146,451 148,739 148,840 149,036 196

      Employment-population ratio

      59.0 59.3 59.3 59.4 0.1

      Unemployed

      9,568 8,299 8,266 8,029 -237

      Unemployment rate

      6.1 5.3 5.3 5.1 -0.2

      Not in labor force

      92,210 93,626 93,770 94,031 261

      Unemployment rates

      Total, 16 years and over

      6.1 5.3 5.3 5.1 -0.2

      Adult men (20 years and over)

      5.7 4.8 4.8 4.7 -0.1

      Adult women (20 years and over)

      5.6 4.8 4.9 4.7 -0.2

      Teenagers (16 to 19 years)

      19.4 18.1 16.2 16.9 0.7

      White

      5.3 4.6 4.6 4.4 -0.2

      Black or African American

      11.6 9.5 9.1 9.5 0.4

      Asian

      4.6 3.8 4.0 3.5 -0.5

      Hispanic or Latino ethnicity

      7.4 6.6 6.8 6.6 -0.2

      Total, 25 years and over

      5.1 4.2 4.3 4.2 -0.1

      Less than a high school diploma

      9.1 8.2 8.3 7.7 -0.6

      High school graduates, no college

      6.2 5.4 5.5 5.5 0.0

      Some college or associate degree

      5.4 4.2 4.4 4.4 0.0

      Bachelor’s degree and higher

      3.2 2.5 2.6 2.5 -0.1

      Reason for unemployment

      Job losers and persons who completed temporary jobs

      4,813 4,088 4,143 4,070 -73

      Job leavers

      851 773 843 790 -53

      Reentrants

      2,845 2,516 2,447 2,349 -98

      New entrants

      1,064 933 826 850 24

      Duration of unemployment

      Less than 5 weeks

      2,609 2,355 2,488 2,095 -393

      5 to 14 weeks

      2,444 2,364 2,257 2,374 117

      15 to 26 weeks

      1,500 1,393 1,188 1,250 62

      27 weeks and over

      2,966 2,121 2,180 2,187 7

      Employed persons at work part time

      Part time for economic reasons

      7,223 6,505 6,325 6,483 158

      Slack work or business conditions

      4,217 3,915 3,828 3,841 13

      Could only find part-time work

      2,546 2,216 2,213 2,242 29

      Part time for noneconomic reasons

      19,538 20,480 19,891 19,760 -131

      Persons not in the labor force (not seasonally adjusted)

      Marginally attached to the labor force

      2,141 1,914 1,927 1,812

      Discouraged workers

      775 653 668 624

      – Over-the-month changes are not displayed for not seasonally adjusted data.
      NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Aug.
2014
June
2015
July
2015(p)
Aug.
2015(p)

EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)

Total nonfarm

213 245 245 173

Total private

209 218 224 140

Goods-producing

34 -3 13 -24

Mining and logging

3 -5 -6 -10

Construction

17 1 7 3

Manufacturing

14 1 12 -17

Durable goods(1)

16 1 -7 -5

Motor vehicles and parts

4.3 0.0 1.6 5.7

Nondurable goods

-2 0 19 -12

Private service-providing

175 221 211 164

Wholesale trade

4.7 3.1 6.4 7.8

Retail trade

-3.4 36.2 32.4 11.2

Transportation and warehousing

10.0 12.7 13.6 7.3

Utilities

2.2 0.0 2.6 1.5

Information

13 3 2 -7

Financial activities

13 21 21 19

Professional and business services(1)

56 68 39 33

Temporary help services

19.2 19.9 -9.2 10.7

Education and health services(1)

42 61 53 62

Health care and social assistance

35.9 56.9 45.4 56.4

Leisure and hospitality

25 19 30 33

Other services

12 -3 11 -4

Government

4 27 21 33

(3-month average change, in thousands)

Total nonfarm

249 231 250 221

Total private

241 220 231 194

WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES
AS A PERCENT OF ALL EMPLOYEES(2)

Total nonfarm women employees

49.4 49.4 49.4 49.4

Total private women employees

47.9 48.0 48.0 48.0

Total private production and nonsupervisory employees

82.7 82.5 82.4 82.4

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.5 34.5 34.5 34.6

Average hourly earnings

$24.55 $24.95 $25.01 $25.09

Average weekly earnings

$846.98 $860.78 $862.85 $868.11

Index of aggregate weekly hours (2007=100)(3)

101.3 103.4 103.6 104.0

Over-the-month percent change

0.1 0.2 0.2 0.4

Index of aggregate weekly payrolls (2007=100)(4)

118.7 123.2 123.7 124.6

Over-the-month percent change

0.5 0.2 0.4 0.7

DIFFUSION INDEX
(Over 1-month span)(5)

Total private (263 industries)

65.8 57.2 60.5 56.3

Manufacturing (80 industries)

55.6 51.3 50.6 41.3

Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary

NOTE: Data have been revised to reflect March 2014 benchmark levels and updated seasonal adjustment factors.

The Pronk Pops Show Podcasts Portfolio

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Jim Rogers On Federal Reserve Chairman Ben Bernanke–Videos

Posted on February 27, 2013. Filed under: American History, Blogroll, Business, College, Economics, Education, Employment, European History, Federal Government, Federal Government Budget, government spending, Inflation, Investments, Law, liberty, Life, Links, People, Politics, Raves, Tax Policy, Taxes, Technology, Unemployment, Video, War, Water, Weather, Wisdom | Tags: , , , |

jim-rogers

Jim Rogers On Federal Reserve Chairman Ben Bernanke

Jim Rogers On What The US Economy Will Look Like In 5 Years

Jim Rogers Recommends Giving Up Wall Street For Agriculture Careers

Jim Rogers Discusses Incorrect Wall Street Stories And Predictions

Jim Rogers On Why The Shift Has Not Moved Away From Wall Street Sooner

Jim Rogers Discusses The Growth Rate, 4,200 Percent Of The Quantum Fund

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Jim Rogers Asks Whether Obama Is ‘Delusional’ Or ‘Lying’–Videos

Posted on February 13, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Narcissism, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Regulations, Security, Strategy, Talk Radio, Tax Policy, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , |

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Jim Rogers Asks Whether Obama Is ‘Delusional’ Or ‘Lying’

America is a FREAKING MESS…

Barack Obama is AMERICA’S DAD….

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No Spending Cuts, No Tax Cuts, No Balanced Budget, No Spending Cap, No Hope, No Change–Obama Recession–Fiscal Year 2013 Deficit Will Exceed $1 Trillion–We Have A Spending Problem–Videos

Posted on December 18, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, government, government spending, history, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, People, Philosophy, Politics, Radio, Rants, Raves, Security, Tax Policy, Taxes, Technology, Unemployment, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , |

U.S. Debt Clock

http://www.usdebtclock.org/

$16 Trillion U.S. DEBT – A Visual Perspective

What Are the Dangers of Too Much Debt?

Does Government Have a Revenue or Spending Problem?

Funding Government by the Minute

Will Higher Tax Rates Balance the Budget?

Will Taxing the Rich Fix the Deficit?

What Can We Cut to Balance the Budget

Does Stimulus Spending Work?

The table below summarizes the failed 10 year record of both political parties in controlling government spending that have produced massive fiscal-year deficits and an ever increasing national debt.

Summary of Tax Receipts and Spending Outlays of the

United States Government for Fiscal Years 2002-2012

[in million of dollars]

Fiscal Year Tax Receipts Spending Outlays Deficits (+)  or Surplus (-)
2002 1,853,225 2,011,016 157,791
2003 1,782,108 2,159,246 377,139
2004 1,879,783 2,292,628 412,845
2005 2,153,350 2,472,095 318,746
2006 2,406,675 2,654,873 248,197
2007 2,567,672 2,729,199 161,527
2008 2,523,642 2,978,440 454,798
2009 2,104,358 3,520,082 1,415,724
2010 2,161,728 3,455,931 1,294,204
2011 2,302,495 3,601,109 1,298,614
2012 2,449,093 3,538,286 1,089,193
Source: Department of the Treasury, Final Monthly Treasury Statements of Receipts and Outlays of the United States Government for Fiscal Years 2002-2012, table 1.

Neither the Democratic Party led by President Obama, Senate Majority Leader Harry Reid and House Minority Leader Nancy Pelosi nor the Republican Party led by House Speaker Boehner, House Majority Leader Eric Cantor and Senate Minority Leader Mitch McConnell, are capable of balancing the budget of the U.S. government.

FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
             TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  11/12

   PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
   PRIOR YEAR

     OCTOBER                                                                   163,072                261,539                 98,466
     NOVEMBER                                                                  152,402                289,704                137,302
     DECEMBER                                                                  239,963                325,930                 85,967
     JANUARY                                                                   234,319                261,726                 27,407
     FEBRUARY                                                                  103,413                335,090                231,677
     MARCH                                                                     171,215                369,372                198,157
     APRIL                                                                     318,807                259,690                -59,117
     MAY                                                                       180,713                305,348                124,636
     JUNE                                                                      260,177                319,919                 59,741
     JULY                                                                      184,585                254,190                 69,604
     AUGUST                                                                    178,860                369,393                190,533
     SEPTEMBER                                                                 261,566                186,386                -75,180

       YEAR-TO-DATE                                                          2,449,093              3,538,286              1,089,193

   CURRENT YEAR

     OCTOBER                                                                   184,316                304,311                119,995
     NOVEMBER                                                                  161,730                333,841                172,112

       YEAR-TO-DATE                                                            346,045                638,152                292,107
-
-
-
-
-
-
-
-
0REPORT ID: STM0P081
 USER ID  :     
 DATE: 2012-12-10 TIME: 18.47.19                                                                                         PAGE 
http://www.fms.treas.gov/mts/mts1112.txt

Ron Paul- Discussing The Fiscal Cliff- John Stossel Show

GOP offers fiscal cliff ‘plan b’

US fiscal cliff & options at hand

Woodward: Obama Would Own Recession From Going Over Fiscal Cliff

Peter Schiff: Fed Will Keep Printing Money Until Economy Collapses

Marc Farber: The problem with President Obama & Recession 2013!

CNBC Global Recession Is Coming – Marc Faber

Will Taxing the Rich Deepen the Recession? – The “Fiscal Cliff” is a Scam

Fiscal Cliff An Artificial Crisis

Show News: Hume Boehner has a weak hand in fiscal cliff talks

Peter Schiff: Ben Bernanke throws the dollar over the Currency Cliff

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Federal Reserve Will Continue To Debase and Devalue The U.S. Dollar By Keeping Interest Rates Near Zero To 2015–The Crime of The Century–The Rape of American Savers and Investors–No Exit Strategy–Videos

Posted on December 12, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Tax Policy, Unemployment, Wealth, Wisdom | Tags: , , , , , , |

ApplicFedRates-Nov2012

Effective-Federal-Funds-Rate

fed-funds-rate-201202-w

goldilocks_bernanke

bernanke-cartoon

federal_reserve_balance_sheet

FedBalanceSheet-101101

Press Conference with FOMC Chairman Ben S. Bernanke

Federal Reserve Balance Sheet Illustrated

Fed Ties Interest Rates to Unemployment Rate

Fed links interest and unemployment rates 

Ben Bernanke throws the dollar over the Currency Cliff

CNBC Marc Faber ‘Reduce Government by Fifty Percent Minimum’

Jim Rickards: the Fed is Racing to Create Inflation Before the US Economy Implodes

Stephanie Kelton on Modern Monetary Theory’s Goals for Full Employment and

Competitive Currency Devaluation 

The GOLD standard, the DOLLAR standard & a New GLOBAL CURRENCY Order

The Truth about Gas Prices And Why It Is Like It Is! Shocking Truth Revealed

Peter Schiff on RT America – Financial Crisis

Jim Rickards Discusses **$4,000** Gold on CNBC

Fed Will Keep Printing Until The Dollar Collapses~ Jim Rickards

Jim Rogers – Fiat Currency aka Fake Money aka Worthless

Bernanke: We Cannot Offset Full Impact of Cliff

The Exit Strategy

BernankeCartoonfromGordonLong-1

Quantitative Easing Explained

Overdose: The Next Financial Crisis

Background Articles and Videos

Glenn Beck – Devaluing The Dollar

The Fed and the Power Elite | Murray N. Rothbard

01 – The Economic Crisis (The Fall of America and the Western World) 

05 – The Power Elite Pt.1, with Alex Jones (The Fall of America and the Western

06 – The Power Elite Pt.2, with David Icke (The Fall of America and the Western

Federal Reserve Launches QE4!

By Eric McWhinnie

“…On Wednesday, the Federal Reserve concluded its two-day Federal Open Market Committee meeting. Despite launching a third round of quantitative easing known as QE-infinity in September, the central bank launched QE4.

In the latest FOMC statement, the Federal Reserve met market expectations and said it will buy $45 billion of long-term Treasury securities, in order to replace Operation Twist that expires at the end of the year. Furthermore, it decided to keep interest rates at historic lows until at least as long the unemployment rate remains above 6.5 percent.

Two Key Parts of the FOMC statement are listed below:

  • “To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will purchase longer-term Treasury securities after its program to extend the average maturity of its holdings of Treasury securities is completed at the end of the year, initially at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and, in January, will resume rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.”
  • “To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored.”

Fed’s balance sheet is on pace to explode…

QE programs not only help to juice markets higher through dollar devaluation, they expand the Federal Reserve’s balance sheet to record breaking levels. The central bank’s balance sheet is already nearing $3 trillion and is now on pace to hit almost $4 trillion by the end of 2013 with the recently launched QE4. Francisco Blanch, a global investment strategist with Bank of America, believes the Federal Reserve will maintain bond purchases until the end of 2014, a move that could send the central bank’s balance sheet skyrocketing to $5 trillion.

Bill Gross, founder and co-chief investment officer of PIMCO, estimates that the economy will need to add roughly 200,000 jobs per month for the next 4-5 years in order to meet the Fed’s unemployment target. In other words, interest rates are not planned to rise anytime soon. However, he also says that believing the central bank can keep control of interest rates at current levels is a “decent stretch.” Furthermore, it should be noted that the Fed only pegged interest rates to the unemployment rate.

Bernanke Will Flood U.S. With Dollars In QE4. Now, He Needs Uncle Sam’s Help

Abram Brown, Forbes Staff

“…Consider the millions of pounds of paper that the Federal Reserve will need to afford its easy monetary policy, which today further earned its latest epithet: quantitative easing infinity. Fed Chairman Ben Bernanke pledged to buy $85 billion a month in Treasurys and mortgage-backed securities starting in Jan., and will continue the program until unemployment falls to 6.5%.

Call it QE3.5 or QE4 or whatever. It’s all the same thing: a concerted effort to heal the economy and add some life to this lackluster recovery.  Bernanke and the other central bank policymakers on the Federal Open Markets Committee will keep the printing press rolling for years to come. The Fed estimates that the jobless rate won’t hit the new benchmark for 2.5 years. Other economists expect the country will fall to that level before then, but even optimistic forecasts say it will likely take two years.

Bernanke can do little more to accomplish his goals. “Today’s moves indicate that the accommodation switch has been turned on, and the data have to tell the Fed when to stop,” says Barclays economist Michael Gapen. “There is little left for the Fed to do at this point, in terms of altering its policy. While these is ongoing uncertainty about the stance of fiscal policy, the FOMC has gone to great lengths in a short time to alter its policy framework completely.” Indeed, easing has already lowered interest rates to rock-bottom; the 10-Year T-bill yields a miniscule 1.81% (not far from the record lows, near 1.4%, that we saw this year). Despite this, great mounds—more than $500 billion by some estimates—of investable and spendable dollars sit unused, unproductive.

This is not to say that a fist-full-of-dollars monetary policy can’t buoy the markets, at least a small amount. Stocks rallied this afternoon, following the Fed’s announcement. The Dow Jones industrial average climbed 0.6% to 13,322.74. The S&P 500 gained 0.4%. And the Nasdaq composite went up 0.1%.

Consumer staples stocks performed the best. Ford added 0.4%. Luluemon Athletic increased 1.3%.

Financials also led the market higher. Wells Fargo rose 1.2%. Citigroup gained 1.6%, as Bank of America ticked up 0.8%.

Now, Bernanke needs cooperation from elsewhere in Washington, D.C. Monetary policy must run parallel to fiscal policy for the economy to truly pick up. Brinkmanship over the fiscal cliff—and whether any more fiscal stimuli will come—damages both business and consumer spending. Without that, the economy will remain stuck in neutral. Spending is the key economic driver in the United States, accounting for roughly 70% of all growth. No one can spend until firmly establishing the size of future paychecks.

There’s a problem with Bernanke’s ultra-accommodating posture, though. (More than one, of course, depending on where you land in Keynesian debates.) It might very well be encouraging the game of chicken that currently captivates our nation’s pols. “Maybe the people in Washington who are tussling over the fiscal cliff feel a little more comfortable in tussling because the Fed is giving us very easy money,” says Pierre Ellis, Decision Economics’ senior managing director. Significantly, with the Fed expanding its balance sheet, to keep all of us feeling more comfortable, and theoretically investing and spending, too, it may limit some effectiveness of any fiscal cliff agreement. Hope that Washington accounts for the burden that will come from the payments on all this debt when interest rates do start to rise again. …”

http://www.forbes.com/sites/abrambrown/2012/12/12/ben-bernanke-has-started-the-printing-press-now-he-needs-uncle-sams-help/

Wiedemer to Moneynews: More Fed Easing Is ‘Insurance Policy’ Against Market Collapse

By Forrest Jones and David Nelson

“…The Federal Reserve’s decision to beef up an existing monetary stimulus program may in reality be little more than a move to prevent stock prices from collapsing, said Robert Wiedemer, financial commentator and best-selling author of “Aftershock.”

At its December monetary policy meeting, the Fed announced plans to bolster its current quantitative easing (QE) program, a monetary stimulus tool that sees the U.S. central bank buy $40 billion in
mortgage-backed securities a month from banks on an open-ended basis to spur recovery.

Going forward, the Fed will now purchase an additional $45 billion in Treasury holdings from financial institutions alongside its purchases of mortgage debt.

QE functions by pumping liquidity into the economy in a way that keeps interest rates low to encourage investing and hiring, with rising stock prices and a weaker dollar as side effects.

The additional Treasury purchases will replace the Fed’s so-called Operation Twist program, under which the Fed swaps $45 billion a month in short-term Treasurys for long-termer U.S. government debt — that policy will expire at year end as planned.

The Fed will begin injecting $85 billion in freshly printed money into the economy a month to stave off economic decline by pushing down borrowing costs to encourage investing and hiring, though the idea may really be to keep stock prices high
and investors happy.

“I think it’s an insurance policy more for the stock market than it is for unemployment,” Wiedemer told Newsmax TV in an exclusive interview.

“I think it’s an insurance policy not necessarily against keeping the market where it is, but an insurance policy against any kind of collapse,”  added Wiedemer, a managing director of Absolute Investment Management, an investment-advisory firm for individuals with more than $300 million under management.

“They may see a weakness in the stock market that we are not necessarily seeing. This should certainly prevent a collapse, but I don’t know if it is going to keep [the Dow] up at 13,000.”

The Fed added that it will keep benchmark interest rates at a target 0.25 percent until one of two things happen: the unemployment rate drops to 6.5 percent or inflation rates threaten to break 2.5 percent.

“The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates
that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation
between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal and longer-term inflation expectations continue to be ell anchored,” the Fed said in its
December monetary policy statement. …”

Read Latest Breaking News from
Newsmax.com http://www.moneynews.com/StreetTalk/Wiedemer-Fed-Easing-Insurance/2012/12/12/id/467498?s=al&promo_code=1115A-1#ixzz2EyUmSc23

Globalization 3.0 Inflation v Deflation Debate Update

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Ron Paul’s Hunt For Delegates At State Conventions–Videos

Posted on May 19, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Demographics, Diasters, Economics, Employment, Energy, Federal Government Budget, Fiscal Policy, Health Care, history, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, Music, People, Philosophy, Politics, Public Sector, Raves, Resources, Tax Policy, Taxes, Unemployment, Unions, Vacations, Video, War, Wealth, Weather, Wisdom | Tags: , , , , , , , , |

Fox Going Through Post manic Stress: Ron Paul A Major Threat 

40% Delegates are Ron Paul!!!!!!!!!! 

Breaking News: All Delegates Are Unbound!! Proof and Evidence

FOX News – Ron Paul Dominating State Conventions 5/7/12 

And Then There Were Two: Ron Paul and Mitt Romney 

Is Ron Paul electable? 

Ron Paul Has Not Suspended His Campaign!!

“Ron Paul Won Minnesota & Washington State!” Rachel Maddow (THIS IS HOW WE DO IT BABY!) 

Today Is a HUGE Day For The Ron Paul Campaign! 

Ron Paul’s Interview with CNBCs Larry Kudlow !!

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James Perloff –The Shadows of Power: The Council on Foreign Relations and the American Decline–Videos

Posted on December 22, 2011. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Raves, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , |

The Shadows of Power: The Council on Foreign Relations and the American Decline

James Perloff exposes the subversive roots and global designs of the Council on Foreign Relations (CFR). Passed off as a think-tank this group is the “power behind the throne” with hundreds of top-appointed government officials drawn from its ranks – regardless of which party has occupied the White House. It began in 1921 as a front organization for J.P. Morgan and Company and by World War II it had acquired unrivaled influence on American foreign policy. In this presentation Mr. Perloff traces the CFR’s activity from the Wilson to Reagan administrations.

CFR

http://www.cfr.org/

Council on Foreign Relations (CFR)

“…The Council on Foreign Relations (CFR) is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs. Founded in 1921 and headquartered at 58 East 68th Street in New York City, with an additional office in Washington, D.C., the CFR is considered to be the nation’s ‘most influential foreign-policy think tank.’ [1] It publishes a bi-monthly journal Foreign Affairs.

Mission

As stated on its website, the CFR’s mission is to be “a resource for its members, government officials, business executives, journalists, educators and students, civic and religious leaders, and other interested citizens in order to help them better understand the world and the foreign policy choices facing the United States and other countries.”

The CFR aims to maintain a diverse membership, including special programs to promote interest and develop expertise in the next generation of foreign policy leaders. It convenes meetings at which government officials, global leaders and prominent members of the foreign policy community discuss major international issues. Its think tank, the David Rockefeller Studies Program, is composed of about fifty adjunct and full-time scholars, as well as ten in-resident recipients of year-long fellowships, who cover the major regions and significant issues shaping today’s international agenda. These scholars contribute to the foreign policy debate by making recommendations to the presidential administration, testifying before Congress, serving as a resource to the diplomatic community, interacting with the media, authoring books, reports, articles, and op-eds on foreign policy issues.

The council publishes Foreign Affairs, “the preeminent journal of international affairs and U.S. foreign policy.” It also publishes Independent Task Forces which bring together experts with diverse backgrounds and expertise to work together to produce reports offering both findings and policy prescriptions on important foreign policy topics. To date, the CFR has sponsored more than fifty reports.[2]

The CFR aims to provide up-to-date information and analysis about world events and U.S. foreign policy. In 2008, CFR.org’s “Crisis Guide: Darfur” was awarded an Emmy Award by the Television Academy of Arts and Sciences, in the category of “New Approaches to News & Documentary Programming: Current News Coverage.” In 2009, the Crisis Guide franchise won another Emmy for its “Crisis Guide: The Global Economy,” in the category of business and financial reporting.

Early history

The earliest origin of the Council stemmed from a working fellowship of about 150 scholars, called “The Inquiry”, tasked to brief President Woodrow Wilson about options for the postwar world when Germany was defeated. Through 1917–1918, this academic band, including Wilson’s closest adviser and long-time friend “Colonel” Edward M. House, as well as Walter Lippmann, gathered at 155th Street and Broadway at the Harold Pratt House in New York City, to assemble the strategy for the postwar world. The team produced more than 2,000 documents detailing and analyzing the political, economic, and social facts globally that would be helpful for Wilson in the peace talks. Their reports formed the basis for the Fourteen Points, which outlined Wilson’s strategy for peace after war’s end.[3]

These scholars then traveled to the Paris Peace Conference, 1919 that would end the war; it was at one of the meetings of a small group of British and American diplomats and scholars, on May 30, 1919, at the Hotel Majestic, that both the Council and its British counterpart, the Chatham House in London, were born.[4]

Some of the participants at that meeting, apart from Edward House, were Paul Warburg, Herbert Hoover, Harold Temperley, Lionel Curtis, Lord Eustace Percy, Christian Herter, and American academic historians James Thomson Shotwell of Columbia University, Archibald Cary Coolidge of Harvard, and Charles Seymour of Yale.[citation needed]

In 1938 they created various Committees on Foreign Relations throughout the country. These later became governed by the American Committees on Foreign Relations in Washington, D.C.[citation needed]

Network diagram showing interlocks between various U.S. corporations and institutions and the Council on Foreign Relations, in 2004

The Council on Foreign Relations, a sister organization to the Royal Institute of International Affairs in London (now known as Chatham House), was formed in 1922 as a noncommercial, nonpolitical organization supporting American foreign relations.[5] From its inception the Council was bipartisan, welcoming members of both Democratic and Republican parties. It also welcomed Jews and African Americans, although women were initially barred from membership. Its proceedings were almost universally private and confidential.[6] A critical study found that of 502 government officials surveyed from 1945 to 1972, more than half were members of the Council.[7]

Today it has about 5,000 members (including five-year term members[8] between the ages of 30-41), which over its history have included senior serving politicians, more than a dozen Secretaries of State, former national security officers, bankers, lawyers, professors, former CIA members and senior media figures.[citation needed]

In 1962, the group began a program of bringing select Air Force officers to the Harold Pratt House to study alongside its scholars. The Army, Navy and Marine Corps requested they start similar programs for their own officers.[7]

Vietnam created a rift within the organization. When Hamilton Fish Armstrong announced in 1970 that he would be leaving the helm of Foreign Affairs after 45 years, new chairman David Rockefeller approached a family friend, William Bundy, to take over the position. Anti-war advocates within the Council rose in protest against this appointment, claiming that Bundy’s hawkish record in the State and Defense Departments and the CIA precluded him from taking over an independent journal. Some considered Bundy a war criminal for his prior actions.[7]

Seven American presidents have addressed the Council, two while still in office – Bill Clinton and George W. Bush.[9]

The Council says that it has never sought to serve as a receptacle for government policy papers that cannot be shared with the public and does not encourage its members serving in government to do so. The Council says that discussions at its headquarters remain confidential, not because they share or discuss secret information, but because the system allows members to test new ideas with other members.[10]

Arthur M. Schlesinger, Jr., in his book on the Kennedy presidency, A Thousand Days, wrote that Kennedy was not part of what he called the “New York establishment”:

“In particular, he was little acquainted with the New York financial and legal community– that arsenal of talent which had so long furnished a steady supply of always orthodox and often able people to Democratic as well as Republican administrations. This community was the heart of the American Establishment. Its household deities were Henry Stimson and Elihu Root; its present leaders, Robert Lovett and John J. McCloy; its front organizations, the Rockefeller, Ford and Carnegie foundations and the Council on Foreign Relations; its organs, the New York Times and Foreign Affairs.”[11]

Website

It has an extensive website, http://www.cfr.org, featuring links to its history, fellows’ biographical information, think tank, the David Rockefeller Studies Program, Independent Task Force reports[12] and other reports, CFR books, expert interviews, meeting transcripts, audio, and videos, Emmy award-winning multimedia Crisis Guides and timelines, Foreign Affairs, and many other publications, biographies of notable directors and other board members, corporate members, and press releases.[2]

Influence on foreign policy

Beginning in 1939 and lasting for five years, the Council achieved much greater prominence within the government and the State Department when it established the strictly confidential War and Peace Studies, funded entirely by the Rockefeller Foundation.[13] The secrecy surrounding this group was such that the Council members who were not involved in its deliberations were completely unaware of the study group’s existence.[13]

It was divided into four functional topic groups: economic and financial, security and armaments, territorial, and political. The security and armaments group was headed by Allen Welsh Dulles who later became a pivotal figure in the CIA’s predecessor, the OSS. It ultimately produced 682 memoranda for the State Department, marked classified and circulated among the appropriate government departments. As a historical judgment, its overall influence on actual government planning at the time is still said to remain unclear.[13]

In an anonymous piece called “The Sources of Soviet Conduct” that appeared in Foreign Affairs in 1947, CFR study group member George Kennan coined the term “containment.” The essay would prove to be highly influential in US foreign policy for seven upcoming presidential administrations. 40 years later, Kennan explained that he had never suspected the Russians of any desire to launch an attack on America; he thought that was obvious enough he didn’t need to explain it in his essay. William Bundy credited the CFR’s study groups with helping to lay the framework of thinking that led to the Marshall Plan and NATO. Due to new interest in the group, membership grew towards 1,000.[14]

Dwight D. Eisenhower chaired a CFR study group while he served as President of Columbia University. One member later said, “whatever General Eisenhower knows about economics, he has learned at the study group meetings.”[14] The CFR study group devised an expanded study group called “Americans for Eisenhower” to increase his chances for the presidency. Eisenhower would later draw many Cabinet members from CFR ranks and become a CFR member himself. His primary CFR appointment was Secretary of State John Foster Dulles. Dulles gave a public address at the Harold Pratt House in which he announced a new direction for Eisenhower’s foreign policy: “There is no local defense which alone will contain the mighty land power of the communist world. Local defenses must be reinforced by the further deterrent of massive retaliatory power.” After this speech, the council convened a session on “Nuclear Weapons and Foreign Policy” and chose Henry Kissinger to head it. Kissinger spent the following academic year working on the project at Council headquarters. The book of the same name that he published from his research in 1957 gave him national recognition, topping the national bestseller lists.[14]

On 24 November 1953, a study group heard a report from political scientist William Henderson regarding the ongoing conflict between France and Vietnamese Communist leader Ho Chi Minh’s Viet Minh forces, a struggle that would later become known as the First Indochina War. Henderson argued that Ho’s cause was primarily nationalist in nature and that Marxism had “little to do with the current revolution.” Further, the report said, the United States could work with Ho to guide his movement away from Communism. State Department officials, however, expressed skepticism about direct American intervention in Vietnam and the idea was tabled. Over the next twenty years, the United States would find itself allied with anti-Communist South Vietnam and against Ho and his supporters in the Vietnam War.[14]

The Council served as a “breeding ground” for important American policies such as mutual deterrence, arms control, and nuclear non-proliferation.[14]

A four-year long study of relations between America and China was conducted by the Council between 1964 and 1968. One study published in 1966 concluded that American citizens were more open to talks with China than their elected leaders. Kissinger had continued to publish in Foreign Affairs and was appointed by President Nixon to serve as National Security Adviser in 1969. In 1971, he embarked on a secret trip to Beijing to broach talks with Chinese leaders. Nixon went to China in 1972, and diplomatic relations were completely normalized by President Carter’s Secretary of State, another Council member, Cyrus Vance.[14]

In November 1979, while chairman of the CFR, David Rockefeller became embroiled in an international incident when he and Henry Kissinger, along with John J. McCloy and Rockefeller aides, persuaded President Jimmy Carter through the State Department to admit the Shah of Iran, Mohammad Reza Pahlavi, into the US for hospital treatment for lymphoma. This action directly precipitated what is known as the Iran hostage crisis and placed Rockefeller under intense media scrutiny (particularly from The New York Times) for the first time in his public life.[15][16]

Current policy initiatives

The CFR started a program in 2008 to last for 5 years and funded by a grant from the Robina Foundation called “International Institutions and Global Governance” which aims to identify the institutional requirements for effective multilateral cooperation in the 21st century.[17]

The CFR’s Maurice C. Greenberg Center for Geoeconomic Studies, directed by scholar and author Sebastian Mallaby works to promote a better understanding among policymakers, academic specialists, and the interested public of how economic and political forces interact to influence world affairs.[18]

The CFR’s Center for Preventive Action (CPA) seeks to help prevent, defuse, or resolve deadly conflicts around the world and to expand the body of knowledge on conflict prevention. It does so by creating a forum in which representatives of governments, international organizations, nongovernmental organizations, corporations, and civil society can gather to develop operational and timely strategies for promoting peace in specific conflict situations.

 Membership

Main article: Members of the Council on Foreign Relations

There are two types of membership: life, and term membership, which lasts for 5 years and is available to those between 30 and 36. Only U.S. citizens (native born or naturalized) and permanent residents who have applied for U.S. citizenship are eligible. A candidate for life membership must be nominated in writing by one Council member and seconded by a minimum of three others.[19]

Corporate membership (250 in total) is divided into “Basic”, “Premium” ($25,000+) and “President’s Circle” ($50,000+). All corporate executive members have opportunities to hear distinguished speakers, such as overseas presidents and prime ministers, chairmen and CEOs of multinational corporations, and U.S. officials and Congressmen. President and premium members are also entitled to other benefits, including attendance at small, private dinners or receptions with senior American officials and world leaders.[20]

Controversy

The Council has been the subject of debate, as shown in the 1969 film The Capitalist Conspiracy by G. Edward Griffin, the 2006 film by Aaron Russo, America: Freedom to Fascism and a 2007 documentary Zeitgeist: The Movie, as well as the book The Naked Capitalist which reviewed Carroll Quigley’s book Tragedy and Hope from a less supportive standpoint.

This is partly due to the number of high-ranking government officials (along with world business leaders and prominent media figures) in its membership, its secrecy clauses, and the large number of aspects of American foreign policy that its members have been involved with, beginning with Wilson’s Fourteen Points. Wilson’s Fourteen Points speech was the first in which he suggested a worldwide security organization to prevent future world wars.[3]

The John Birch Society believes that the CFR is “Guilty of conspiring with others to build a one world government…”.[21] Conservative Democratic congressman from Georgia Larry McDonald, the second head of the John Birch Society, introduced American Legion National Convention Resolution 773 to the House of Representatives calling for a congressional investigation into the Council on Foreign Relations, but nothing came from it.[22]

Carroll Quigley claimed it “became well known among those who believe that there is an international conspiracy to bring about a one-world government.” In Tragedy and Hope, he based his analysis on his unsourced research in the papers of an Anglo-American elite organization that, he held, secretly controlled the U.S. and UK governments through a series of Round Table Groups. Critics assailed Quigley for his approval of the goals (not the tactics) of the Anglo-American elite while selectively using his information and analysis as evidence for their views.[23] Speaking of Carroll Quigley, Rep. Larry McDonald said, “He says, sure we’ve been working it, sure we’ve been collaborating with communism, yes we’re working with global accommodation, yes, we’re working for world government. But the only thing I object to is that we’ve kept it a secret.”.[24] CFR publications discuss multilateralism and global governance as well.[25]

In response to the allegations, the CFR’s website contains a FAQ section about its affairs.[26] …”

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

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Ron Paul VS Herman Cain–Truth Teller Vs. Deception Deliverer –Videos

Posted on November 3, 2011. Filed under: American History, Banking, Blogroll, College, Communications, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Homes, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Regulations, Taxes, Unions, Vacations, Video, War | Tags: , , , , , |

Ron Paul VS Herman Cain

Herman Cain Tells Ron Paul that the Federal Reserve isn’t a Top Priority at GOP Debate

What Ron Paul Could Ask Herman Cain

 

 

 

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Warmonger Obama’s Undeclared And Unconstitutional War With Libya: Approaching Over 1,000 U.S Air Force and Navy Air Strike Sorties By July 4th–Land War Invasion Of Libya This Fall!–BO-Day–Massive Government Interventionist Foreign Policy–To Stop Gaddaffi’s New African Gold Dinar Standard To Replace Fiat Paper U.S. Dollar Standard For Oil!–Videos

Posted on July 1, 2011. Filed under: Banking, Blogroll, Business, Communications, Economics, Energy, Federal Government, Fiscal Policy, government, government spending, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, Natural Gas, Oil, People, Philosophy, Politics, Rants, Raves, Resources, Taxes, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , |

 

Obama Won’t Answer If War Powers Resolution Is Constitutional

 

Plunder Play by NATO Pirates Real Reason For Invasion of Libya – News Compilation

 

Good Ol’ Shoe – In Creation [from Wag the Dog]

The Wars Power Act is unconstitutional and only Congress according to the United States Constitution can declare war.

Congress should stop all funding for this undeclared and unconstitutional war.

Why Libya and Why Now?

Oil and Gold!

Libya was attempting to replace the oil for U.S. dollars standard with a new oil for gold standard.

The European and American central bankers could not let this stand.

Both the European Union and the United States are addicted to printing  fiat paper money that then can be exchanged for oil.

The oil-producing states was wising up as they see for the Euro and U.S. dollar steadily decline in value as central bankers including the  Federal Reserve debase or devalue their currencies.

Libya was a direct threat to these central bankers and the commercial and investment bankers who profit immensely from the current oil for dollars standard.

Thus the power elites of the United States, Great Britain and France decided to take out or replace Gaddafi.

Since Gaddafi decided to stay, a joint invasion of Libya by the United States, Great Britain and France is planned to be launched in the September-October timeframe.

Air attack sorties are ramping up to take out as many command and control and air defense  and  radar targets as well as military logistics and supply depots before the invasion is launched.

Most American do not believe a word President Obama say and do not trust him.

Only Congress can stop this military invasion cuuting off all appropriations for these military operations and making it clear that what the President is doing is an impeachable defense.

Obama’s wag the dog war in Libya strategy is about to be escalated and Congress does nothing to date to really stop it.

The American people do not want yet another war and both Congress and the President are again ignoring the will of the American people.

Yes, Mr. President this is all about politics and you are doing the bidding of the Wall Street and international bankers by attacking Libya.

Members of Congress and the President can expect to be voted out of office if they continue with the undeclared and unconstitutional war.

 

AFRICOM: AF, Navy still flying Libya missions

By Dave Majumdar

 

“…Air Force and Navy aircraft are still flying hundreds of strike missions over Libya despite the Obama administration’s claim that American forces are playing only a limited support role in the NATO operation.

An Africa Command (AFRICOM) spokeswoman confirmed Wednesday that since NATO’s Operation Unified Protector (OUP) took over from the American-led Operation Odyssey Dawn on March 31, the U.S. military has flown hundreds of strike sorties. Previously, Washington had claimed that it was mostly providing intelligence, surveillance and reconnaissance (ISR) and tanker support to NATO forces operating over Libya.

“U.S. aircraft continue to fly support [ISR and refueling] missions, as well as strike sorties under NATO tasking,” AFRICOM spokeswoman Nicole Dalrymple said in an emailed statement. “As of today, and since 31 March, the U.S. has flown a total of 3,475 sorties in support of OUP. Of those, 801 were strike sorties, 132 of which actually dropped ordnance.”

A White House report on Libya sent to Congress on June 15 says that “American strikes are limited to the suppression of enemy air defense and occasional strikes by unmanned Predator UAVs against a specific set of targets.” The report also says the U.S. provides an “alert strike package.”

Dalrymple named the Air Force’s F-16CJ and Navy’s EA-18G Growler electronic attack aircraft as the primary platforms that have been suppressing enemy air defenses.

However, those F-16s are not solely drawn from units based in Spangdahlem, Germany.

“…The White House declined to comment on how 801 strike sorties constitutes “limited” involvement, but Harold Koh, a State Department legal adviser, said in testimony before the Senate Foreign Relations Committee on Tuesday that “when U.S forces engage in a limited military mission, that involves limited exposure for U.S. troops, and limited risk of serious escalation, and employs limited military means, we are not in the kind of hostilities of the kind envisioned by the War Powers Resolution.”

He said there have been “no active exchanges of fire with hostile forces” despite AFRICOM’s statement that weapons had been dropped during 132 sorties.

Many in Congress on both sides of the aisle vehemently disagree with the White House’s contention.

Most air assets involved in the campaign are reconnaissance aircraft, including the U-2 high-altitude spy plane, E-8 Joint Surveillance Target Attack Radar System ground surveillance aircraft and the Navy’s P-3C Orion maritime patrol aircraft. The U.S. provides nearly 70 percent of the NATO operation’s ISR capacity, according to the White House report.

Additionally, the Air Force is still providing EC-130J aircraft to the operation to conduct psychological warfare operations by broadcasting coercive messages.

The remaining aircraft operating in the theater are aerial refueling tankers, including KC-10s and KC-135s. The U.S. also provides the majority of the alliance’s tanker capability. …”

http://www.airforcetimes.com/news/2011/06/defense-africom-air-force-navy-flying-libya-missions-063011/

U.S. Invasion Of Libya Set For October

“…Infowars.com has received alarming reports from within the ranks of military stationed at Ft. Hood, Texas confirming plans to initiate a full-scale U.S.-led ground invasion in Libya and deploy troops by October.

The source stated that additional Special Forces are headed to Libya in July, with the 1st Calvary Division (heavy armor) and III Corps deploying in late October and early November. Initial numbers are estimated at 12,000 active forces and another 15,000 in support, totaling nearly 30,000 troops.

This information was confirmed by numerous calls and e-mails from other military personnel, some indicating large troop deployment as early as September. Among these supporting sources is a British S.A.S. officer confirming that U.S. Army Rangers are already in Libya. The chatter differs in the details, but the overall convergence is clear– that a full-on war is emerging this fall as Gaddafi continues to evade attempts to remove him from power. …”

http://www.infowars.com/u-s-invasion-of-libya-set-for-october/

Gold, Oil, Africa and Why the West Wants Gadhafi Dead

Muammar Gadhafi’s decision to pursue gold standard and reject dollars for oil payments may have sealed his fate

“… The war raging in Libyasince February is getting progressively worse as NATO forces engage in regime change and worse, an objective to kill Muammar Gadhafi to eradicate his vision of a United Africa with a single currency backed by gold.

 Observers say implementing that vision would change the world power equation and threaten Western hegemony. In response, the United States and its NATO partners have determined “Gadhafi must go,” and assumed the role of judge, jury and executioner. …”

“…“The idea, according to Gaddafi, was that African and Muslim nations would join together to create this new currency and would use it to purchase oil and other resources in exclusion of the dollar and other currencies,” said political analyst Anthony Wile in an editorial for The Daily Bell online.

According to the International Monetary Fund, Libya’s Central Bank is 100 percent state-owned and estimates that the bank has nearly 144 tons of gold in its vaults. If Col. Gadhafi changed the purchasing terms of his oil and other Libyan commodities sold on the world market and only accepted gold as payment; a policy like that wouldn’t be welcomed by the power elites who control the world’s central banks. …”

“…Furthermore, pricing oil in something other than the dollar would undercut the pedestal of U.S.. power in the world. Although in trouble, the dollar is the reserve currency based on a deal made with Saudi Arabia in 1971 in which the Saudis, as the world’s largest oil producer, agreed to accept only dollars for oil, Mr. Wile observed.

The Libyan affair has sparked a divide in the world community with the African Union and nations like Venezuela, China and Cuba—and until recently Russia—on one side as voices of reason, caution and respect for international law and honoring the UN mandate which set the parameters for engagement in Libya.

On the other side are war hawkish America, France, Britain and Italy pursuing regime change and actively trying to assassinate Col. Gadhafi, though they deny that aim. …”

 

http://www.finalcall.com/artman/publish/World_News_3/article_7886.shtml

Gaddafi control holds nearly 144 tons of gold – Libya has the 25th largest gold reserves in the world.

“…According to the latest figures of the International Monetary Fund IMF, Central Bank of Libya under Gaddafi control holds nearly 144 tons of gold. Some of the information, said the exact number may be higher than several tons.

144 tons of gold with this, Libya is ranked number 25 among the country’s largest gold reserves in the world, worth over 6.5 billion dollars at the present time, sufficient to pay for a moderate forces in the several months or even years.

While central banks in many countries often gold reserves in London, New York or Switzerland, the Libyan back now hiding in their countries. Its people are also familiar with the exchange on the bullion market.

Although the U.S. and Europe have frozen billions of dollars of assets in Libya as a punishment, to influence the central bank and national oil companies, but still enough gold reserves to Gaddafi a way of life, if that can be sold. To sell at bargain prices, Colonel Gaddafi will certainly have to move the gold out of Libya.

Before the fighting took place, the gold is stored at the central bank in the capital Tripoli. Tuy However, since then, it can be moved to another location, such as the eastern city of Sebha, near the border with Niger and Chad.

The political instability in the Middle East, besides contributing to raising the gold price to a record $ 1,444 an ounce, also confirmed that the value of gold does not depend on a regime that holds it. …”

http://newsessentials.wordpress.com/2011/03/25/gaddafi-control-holds-nearly-144-tons-of-gold-libya-has-the-25th-largest-gold-reserves-in-the-world/

Gaddafi gold-for-oil, dollar-doom plans behind Libya ‘mission’?

 

The Truth On Why The US Invaded Libya China Moving To Gold Standard Libya Was Too

 

Judge Andrew Napolitano ~ Going Down Roman Road of Decline Fast 6/27/11

END WAR Ron Paul: BO Is A Warmonger Expanding War Who Endorses Assassination & Loves The Patriot Act

 

WAR POWERS ACT – RON PAUL & THE CONSTITUTION vs. THE TYRANT OBAMA

Should Congress Cut All Funding For War In Libya?

Illegal War in Yemen! Warmonger OBAMA MUST BE STOPPED!! IMPEACH OBAMA NOW!!!

 

NATO Preparing Ground War in Libya

 

Obama To Launch Full Scale Ground War In Libya On September/October 1/2

Obama To Launch Full Scale Ground War In Libya On September/October 2/2

Footage of F-16 Aircrafts return to Aviano Air Force Base, Italy, on March 20, 2011, after supporting Operation Odyssey Dawn. Joint Task Force Dawn is the U.S. Africa Command task force established to provide operational and tactical command and control of U.S. military forces supporting the international response to the unrest in Libya and enforcement of United Nations Security Council Resolution (UNSCR) 1973. UNSCR 1973 authorizes all necessary measures to protect civilians in Libya under threat of attack by Qadhafi regime forces. JTF Odyssey Dawn is commanded by U.S. Navy Admiral Samuel J. Locklear, III. Provided by Combat Camera Detachment USEUCOM.

Video of F16 mid-air refueling as jets enforce Libya no-fly zone

NATO Allied Spanish Air Force F-18’s Take Off From Naval Air Station Sigonella

F-18 fighter jets take off from Aviano

Fueling the Air Attack in Libya, US Forces Pt 1 of 2

Video and interviews of 126th Air Refueling Wing preparing for deployment to Libya in support of Operation Odyssey Dawn. They will assist in the logistics of keeping the aircraft attacking targets in Libya flying. Pt 2 of 2.

If you like this video take a look at some of the over 2500+ other videos with 13.7 million views on this channel!. You can also find us on FaceBook at “military videos” and Twitter at “3rdID8487”.

Fueling the Air Attack in Libya, US Forces Pt 2 of 2

Video and interviews of 126th Air Refueling Wing preparing for deployment to Libya in support of Operation Odyssey Dawn. They will assist in the logistics of keeping the aircraft attacking targets in Libya flying. Pt 2 of 2.

If you like this video take a look at some of the over 2500+ other videos with 13.7 million views on this channel!. You can also find us on FaceBook at “military videos” and Twitter at “3rdID8487”.

Aerial Refueling

Background Articles and Videos

Lyndon LaRouche: War is Globalist Favorite Tool of Choice for Poplutation Reduction 1/4

Lyndon LaRouche: War is Globalist Favorite Tool of Choice for Poplutation Reduction 2/4

Lyndon LaRouche: War is Globalist Favorite Tool of Choice for Poplutation Reduction 3/4

Lyndon LaRouche: War is Globalist Favorite Tool of Choice for Poplutation Reduction 4/4

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Robert Steele–Gnomedex, 2007–Keynote Address–Videos

Posted on January 24, 2011. Filed under: Blogroll, Communications, Culture, Demographics, Economics, Employment, Federal Government, government, government spending, Investments, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Regulations, Security, Taxes, Technology, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , |

Gnomedex – Robert Steele

 

Background Articles and Videos

 

CIA Officer- Robert Steele tells it like it is. Part 1

 

CIA Officer- Robert Steele tells it like it is Part 2

 

CHANGE 2010: Robert Steele, former CIA officer, discusses real-time and and open source intelligence

 

Robert David Steele Vivas

“…Robert David Steele Vivas (b. July 16, 1952 New York City), is known for his promotion of open source intelligence (OSINT).[1] He is a former United States Marine Corps infantry and intelligence officer for twenty years and was the second-ranking civilian (GS-14) in U.S. Marine Corps Intelligence from 1988–1992.[citation needed] Steele is a former clandestine services case officer with the Central Intelligence Agency.[2] He is the founder and CEO of OSS.Net as well as the Golden Candle Society. Steele also was a member of the Adjunct Faculty of Marine Corps University in the mid-1990s. …”

“…Career

He spent his early years, two decades, in Latin America and Asia as the son of an oil company executive. Steele has an BA in Political Science; an MA in International Relations; and an MPA in Public Administration. He resigned from the military in 1993.

He is commonly associated[citation needed] with the open source intelligence movement and coined the terms “virtual intelligence” and “information peacekeeping”. He argues that U.S. intelligence reform is needed, and that the private sector can perform a high percentage of U.S. open source intelligence needs and reduce cost to the U.S. government. He advocates “collective intelligence” or “the wisdom of the crowd” (what Howard Rheingold calls “smart mobs”) and for hackers as a national resource.

Steele, an international proponent of OSINT, argues that both reports, while recent, still ignore his decades of advocacy for a proper national focus on OSINT from 1988 to date. He further argues that the CIA has refused to take open source information seriously for decades, and should not be charged with developing new capabilities that are totally outside its existing culture of secrecy.[citation needed]

Books self-published by Steele

  • On Intelligence: Spies and Secrecy in an Open World (AFCEA, 2000). ISBN 0-9715661-0-0.
  • The New Craft of Intelligence: Personal, Public, & Political (OSS, 2002). ISBN 0-9715661-1-9.
  • Peacekeeping Intelligence: Emerging Concepts for the Future (OSS, 2003). Contributing editor with Ben de Jong and Wies Platje. ISBN 0-9715661-2-7.
  • Information Operations: All Information, All Languages, All the Time (OSS, 2005). ISBN 0-9715661-3-5.
  • The Smart Nation Act: Public Intelligence in the Public Interest (OSS, 2006). ISBN 0-9715661-3-2. …”

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

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Money supply

 

“…Empirical measures

Money is used as a medium of exchange, in final settlement of a debt, and as a ready store of value. Its different functions are associated with different empirical measures of the money supply. There is no single “correct” measure of the money supply: instead, there are several measures, classified along a spectrum or continuum between narrow and broad monetary aggregates. Narrow measures include only the most liquid assets, the ones most easily used to spend (currency, checkable deposits). Broader measures add less liquid types of assets (certificates of deposit, etc.)

This continuum corresponds to the way that different types of money are more or less controlled by monetary policy. Narrow measures include those more directly affected and controlled by monetary policy, whereas broader measures are less closely related to monetary-policy actions.[6] It is a matter of perennial debate as to whether narrower or broader versions of the money supply have a more predictable link to nominal GDP.

The different types of money are typically classified as “M”s. The “M”s usually range from M0 (narrowest) to M3 (broadest) but which “M”s are actually used depends on the country’s central bank. The typical layout for each of the “M”s is as follows:

Type of money M0 MB M1 M2 M3 MZM
Notes and coins (currency) in circulation (outside Federal Reserve Banks, and the vaults of depository institutions) V[8] V V V V V
Notes and coins (currency) in bank vaults V[8] V
Federal Reserve Bank credit (minimum reserves and excess reserves) V
traveler’s checks of non-bank issuers V V V V
demand deposits V V V V
other checkable deposits (OCDs), which consist primarily of negotiable order of withdrawal (NOW) accounts at depository institutions and credit union share draft accounts. V[9] V V V
savings deposits V V V
time deposits less than $100,000 and money-market deposit accounts for individuals V V
large time deposits, institutional money market funds, short-term repurchase and other larger liquid assets[10] V
all money market funds V
  • M0: In some countries, such as the United Kingdom, M0 includes bank reserves, so M0 is referred to as the monetary base, or narrow money.[11]
  • MB: is referred to as the monetary base or total currency.[8] This is the base from which other forms of money (like checking deposits, listed below) are created and is traditionally the most liquid measure of the money supply.[12]
  • M1: Bank reserves are not included in M1.
  • M2: represents money and “close substitutes” for money.[13] M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions. M2 is a key economic indicator used to forecast inflation.[14]
  • M3: Since 2006, M3 is no longer tracked by the US central bank.[15] However, there are still estimates produced by various private institutions. (M2 +large deposits and other large, long-term deposits)
  • MZM: Money with zero maturity. It measures the supply of financial assets redeemable at par on demand.

The ratio of a pair of these measures, most often M2/M0, is called an (actual, empirical) money multiplier.Fractional-reserve banking

Main article: Fractional-reserve banking

The different forms of money in government money supply statistics arise from the practice of fractional-reserve banking. Whenever a bank gives out a loan in a fractional-reserve banking system, a new sum of money is created. This new type of money is what makes up the non-M0 components in the M1-M3 statistics. In short, there are two types of money in a fractional-reserve banking system[16][17]:

  1. central bank money (physical currency, government money)
  2. commercial bank money (money created through loans) – sometimes referred to as private money, or checkbook money[18]

In the money supply statistics, central bank money is MB while the commercial bank money is divided up into the M1-M3 components. Generally, the types of commercial bank money that tend to be valued at lower amounts are classified in the narrow category of M1 while the types of commercial bank money that tend to exist in larger amounts are categorized in M2 and M3, with M3 having the largest.

Reserves are deposits that banks have received but have not loaned out. In the USA, the Federal Reserve regulates the percentage that banks must keep in their reserves before they can make new loans. This percentage is called the minimum reserve requirement. This means that if a person makes a deposit for $1000.00 and the bank reserve mandated by the FED is 10% then the bank must increase its reserves by $100.00 and is able to loan the remaining $900.00. The maximum amount of money the banking system can legally generate with each dollar of reserves is called the (theoretical) money multiplier, and, following the formula for the sum of an infinite convergent geometric series, can be calculated as the reciprocal of the minimum reserve. For example, with a reserve of 20%, the money multiplier would be 5, as 20% divided into 100% makes 5.

Example

Note: The examples apply when read in sequential order.

M0

  • Laura has ten US $100 bills, representing $1000 in the M0 supply for the United States. (MB = $1000, M0 = $1000, M1 = $1000, M2 = $1000)
  • Laura burns one of her $100 bills. The US M0, and her personal net worth, just decreased by $100. (MB = $900, M0 = $900, M1 = $900, M2 = $900)

M1

  • Laura takes the remaining nine bills and deposits them in her checking account at her bank. (MB = $900, M0 = 0, M1 = $900, M2 = $900)
  • The bank then calculates its reserve using the minimum reserve percentage given by the Fed and loans the extra money. If the minimum reserve is 10%, this means $90 will remain in the bank’s reserve. The remaining $810 can only be used by the bank as credit, by lending money, but until that happens it will be part of the banks excess reserves.
  • The M1 money supply increased by $810 when the loan is made. M1 the money has been created. ( MB = $900 M0 = 0, M1 = $1710, M2 = $1710)
  • Laura writes a check for $400, check number 7771. The total M1 money supply didn’t change, it includes the $400 check and the $500 left in her account. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710)
  • Laura’s check number 7771 is accidentally destroyed in the laundry. M1 and her checking account do not change, because the check is never cashed. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710)
  • Laura writes check number 7772 for $100 to her friend Alice, and Alice deposits it into her checking account. MB does not change, it still has $900 in it, Alice’s $100 and Laura’s $800. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710)
  • The bank lends Mandy the $810 credit that it has created. Mandy deposits the money in a checking account at another bank. The other bank must keep $81 as a reserve and has $729 available for loans. This creates a promise-to-pay money from a previous promise-to-pay, thus the M1 money supply is now inflated by $729. (MB = $900, M0 = 0, M1 = $2439, M2 = $2439)
  • Mandy’s bank now lends the money to someone else who deposits it on a checking account on yet another bank, who again stores 10% as reserve and has 90% available for loans. This process repeats itself at the next bank and at the next bank and so on, until the money in the reserves backs up an M1 money supply of $9000, which is 10 times the M0 money. (MB = $900, M0 = 0, M1 = $9000, M2 = $9000)

M2

  • Laura writes check number 7774 for $1000 and brings it to the bank to start a Money Market account (these do not have a credit-creating charter), M1 goes down by $1000, but M2 stays the same. This is because M2 includes the Money Market account in addition to all money counted in M1.

Foreign Exchange

  • Laura writes check number 7776 for $200 and brings it downtown to a foreign exchange bank teller at Credit Suisse to convert it to British Pounds. On this particular day, the exchange rate is exactly USD $2.00 = GBP £1.00. The bank Credit Suisse takes her $200 check, and gives her two £50 notes (and charges her a dollar for the service fee). Meanwhile, at the Credit Suisse branch office in Hong Kong, a customer named Huang has £100 and wants $200, and the bank does that trade (charging him an extra £.50 for the service fee). US M0 still has the $900, although Huang now has $200 of it. The £50 notes Laura walks off with are part of Britain’s M0 money supply that came from Huang.
  • The next day, Credit Suisse finds they have an excess of GB Pounds and a shortage of US Dollars, determined by adding up all the branch offices’ supplies. They sell some of their GBP on the open FX market with Deutsche Bank, which has the opposite problem. The exchange rate stays the same.
  • The day after, both Credit Suisse and Deutsche Bank find they have too many GBP and not enough USD, along with other traders. Then, To move their inventories, they have to sell GBP at USD $1.999, that is, 1/10 cent less than $2 per pound, and the exchange rate shifts. None of these banks has the power to increase or decrease the British M0 or the American M0; they are independent systems.

The Federal Reserve previously published data on three monetary aggregates, but on 10 November 2005 announced that as of 23 March 2006, it would cease publication of M3.[15] Since the Spring of 2006, the Federal Reserve only publishes data on two of these aggregates. The first, M1, is made up of types of money commonly used for payment, basically currency (M0) and checking account balances. The second, M2, includes M1 plus balances that generally are similar to transaction accounts and that, for the most part, can be converted fairly readily to M1 with little or no loss of principal. The M2 measure is thought to be held primarily by households. As mentioned, the third aggregate, M3 is no longer published. Prior to this discontinuation, M3 had included M2 plus certain accounts that are held by entities other than individuals and are issued by banks and thrift institutions to augment M2-type balances in meeting credit demands; it had also included balances in money market mutual funds held by institutional investors. The aggregates have had different roles in monetary policy as their reliability as guides has changed. The following details their principal components[19]:

  • M0: The total of all physical currency, plus accounts at the central bank that can be exchanged for physical currency.
  • M1: The total of all physical currency part of bank reserves + the amount in demand accounts (“checking” or “current” accounts).
  • M2: M1 + most savings accounts, money market accounts, retail money market mutual funds,and small denomination time deposits (certificates of deposit of under $100,000).
  • M3: M2 + all other CDs (large time deposits, institutional money market mutual fund balances), deposits of eurodollars and repurchase agreements.

When the Federal Reserve announced in 2005 that they would cease publishing M3 statistics in March 2006, they explained that M3 did not convey any additional information about economic activity compared to M2, and thus, “has not played a role in the monetary policy process for many years.” Therefore, the costs to collect M3 data outweighed the benefits the data provided.[15] Some politicians have spoken out against the Federal Reserve’s decision to cease publishing M3 statistics and have urged the U.S. Congress to take steps requiring the Federal Reserve to do so. Libertarian congressman Ron Paul (R-TX) claimed that “M3 is the best description of how quickly the Fed is creating new money and credit. Common sense tells us that a government central bank creating new money out of thin air depreciates the value of each dollar in circulation.”[20] Some of the data used to calculate M3 are still collected and published on a regular basis.[15] Current alternate sources of M3 data are available from the private sector.[21] However, some would argue[citation needed] that since the Federal Reserve has even less control over the fluctuations of M3 than over those of M2, it is unclear why this number is relevant to monetary policy.

As of 4 November 2009 the Federal Reserve reported that the U.S. dollar monetary base is $1,999,897,000,000. This is an increase of 142% in 2 years.[22] The monetary base is only one component of money supply, however. M2, the broadest measure of money supply, has increased from approximately $7.41 trillion to $8.36 trillion from November 2007 to October 2009, the latest month-data available. This is a 2-year increase in U.S. M2 of approximately 12.9%.[23] …”

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

 

 

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Jim Rogers: Schlarbaum Prize 2010

“…The Schlarbaum Prize for the lifetime defense of liberty in 2010 goes to James Beeland Rogers. Jim Rogers has been a constant media presence for many years, accurately predicted the current boom-bust. He uses every opportunity to explain his economic rationale by his investment outlook, which is solidly rooted Misesian theory, not only of business cycles but of the costs of the welfare-warfare state.

In his commentary and investment outlook, he illustrates the way in which sound economics can serve as a critical intellectual infrastructure for understanding and interpreting economic events.

He has been guest professor at the Columbia University Graduate School of Business and is author of several important books on finance and investing. He was raised in Demopolis, Alabama, graduated from Yale and Oxford, co-founded the Quantum Fund in 1970, holds three world records for motorcycle travel (as noted by Guinness), and founded Rogers International Commodity Index in 1998.

The Schlarbaum Prize will be awarded at the Mises Institute Supporters Summit in Auburn, Alabama, October 8-9, 2010. The prize carries with it a $10,000 cash award. The prize has been given since 1999. …”

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Milton Friedman On Education–Videos

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Milton Friedman–Free To Choose–On Donahue –Videos

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Murray Rothbard–Libertarianism–Video

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Murray Rothbard– What Has Government Done to Our Money?–Videos

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Thomas Sowell On The Housing Boom and Bust–Videos

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Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Thomas E. Woods–The Market Economy–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Read Full Post | Make a Comment ( None so far )

Leonard J Santow–Do They Walk On Water: Federal Reserve Chairman and The Fed–Videos

Posted on October 18, 2010. Filed under: Blogroll, Books, College, Communications, Economics, Education, Energy, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Resources, Taxes, Technology, War, Wisdom | Tags: , , , , , , , , , , |

 

“…Synopsis

A crowd gathers. People crane their necks. Cameras flash. The limo door opens. Who is it—Mick Jagger? Oprah? Tiger Woods? No. It’s Alan Greenspan—and the crowd still goes wild. Many felt Greenspan walked on water during his lengthy term as Chairman of the Federal Reserve System. But was he a genius or, as Tolstoy might portray him, simply someone who could manifest confidence while attempting to captain an uncontrollable ship? In this book, economist Leonard Santow casts a steely eye on the Fed and its five most recent chairmen—Arthur Burns, G. William Miller, Paul Volcker, Alan Greenspan, and Ben Bernanke. Along the way, readers learn what function the Fed performs and why, how monetary policy differs from fiscal policy, which levers the Fed uses to change the money supply and control inflation, and more. This is one of the few books to explain the inner workings of the Fed and its Open Market Operations in layman’s terms, while evaluating its most recent chiefs in their efforts to keep inflation at bay and the economy humming. Written in an easy and accessible style, the book also contains insights on the subprime mess and the securities that helped bring down the real estate house of cards, and it offers prescriptions for smoothing the choppy economic seas going forward.

http://search.barnesandnoble.com/Do-They-Walk-on-Water/Leonard-J-Santow/e/9780313360336

Leonard J. Santow

“…LEONARD J. SANTOW is Managing Director of Griggs & Santow Inc., an economic and financial consulting firm in New York City. His clients include government agencies, central banks, investment and commercial banks, corporations, pension funds, insurance companies, government securities dealers, and money managers. He is the author of The Budget Deficit: The Causes, the Costs, and the Outlook; Helping the Fed Work Smarter; and coauthor of Social Security and the Middle-Class Squeeze (Praeger, 2005). Santow holds a Ph.D. in Economics from the University of Illinois. …”

http://www.greenwood.com/catalog/author/S/Leonard_J._Santow.aspx

Background Articles and Videos

Money, Banking and the Federal Reserve

The Gold Dollar | Llewellyn H. Rockwell, Jr.

Milton Freidman on the Federal Reserve System

Milton Friedman – Abolish The Fed

Ron Paul and Milton Friedman Libertarianism: Abolish the Fed

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Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

 

 

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Murray Rothbard–What Has Government Done to Our Money?–Videos

Posted on September 13, 2010. Filed under: Blogroll, Communications, Economics, Education, Fiscal Policy, government spending, history, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Regulations, Technology, Video, Wisdom | Tags: , , , , , , , , , , |

The Gold Standard Before the Civil War | Murray N. Rothbard

 

What Has Government Done to Our Money? (Preface) by Jörg Guido Hülsmann

 

What Has Government Done to Our Money? (Chapter 1) by Murray N. Rothbard

 

What Has Government Done to Our Money? (Chapter 2) by Murray N. Rothbard

 

 

What Has Government Done to Our Money? (Chapter 3) by Murray N. Rothbard

 

What Has Government Done to Our Money? (Chapter 4) by Murray N. Rothbard

The Case for a 100 Percent Gold Dollar (Part 1 of 2) by Murray N. Rothbard

The Case for a 100 Percent Gold Dollar (Part 2 of 2) by Murray N. Rothbard

 

What Has Government Done to Our Money? (Chapter  5) by Murray N. Rothbard

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Calvin Coolidge–Videos

Posted on August 12, 2010. Filed under: Blogroll, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Raves, Resources, Security, Taxes, Video, War, Wisdom | Tags: , , , , , , , , , , , |

“Knowledge comes, but wisdom lingers. It may not be difficult to store up in the mind a vast quantity of face within a comparatively short time, but the ability to form judgments requires the severe discipline of hard work and the tempering heat of experience and maturity. “

“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. “

“Industry, thrift and self-control are not sought because they create wealth, but because they create character.”

“The business of America is business.”

~Calvin Coolidge

BookTV: David Pietrusza, “Silent Cal’s Almanack”

http://www.youtube.com/watch?v=JkX3YN41_Yw&feature=player_embedded

Glenn Beck A Closer Look At The Progressive Movement

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Calvin Coolidge Memorial Foundation

An outstanding and must view Calvin Coolidge Video  and Website

http://www.calvin-coolidge.org/

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The Autobiography of Calvin Coolidge, Part I

The Autobiography of Calvin Coolidge, Part II

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Richard Norton Smith on Calvin Coolidge (6 of 8)

Richard Norton Smith on Calvin Coolidge (7 of 8)

Richard Norton Smith on Calvin Coolidge (8 of 8)

 “…Robert Sobel, in the first full-scale biography of Calvin Coolidge within a generation, shatters the caricature of our thirtieth president as a silent, do-nothing leader. He exposes the real Coolidge as the most Jeffersonian of all twentieth-century presidents — he cut taxes four times, had a budget surplus every year in office, and cut the national debt by a third during a period of unprecedented growth. He won 17 of the 19 elections in which he ran. Although a Republican, he reversed the Republican centrist policies. There were Coolidge Democrats three-quarters of a century before there were Reagan Democrats. A statistician once computed that Coolidge’s sentences averaged 18 words compared with Lincoln’s 27, Wilson’s 32, and Teddy Roosevelt’s 41 — Coolidge was direct. …”

http://www.jpands.org/hacienda/sobel.html

Calvin Coolidge

“The nation which forgets its defenders will be itself forgotten. “

“Collecting more taxes than is absolutely necessary is legalized robbery. “

“Perhaps one of the most important accomplishments of my administration has been minding my own business.”

“To live under the American Constitution is the greatest political privilege that was ever accorded to the human race.”

~Calvin Coolidge

The American people long for the days of Calvin Coolidge where 98% of Americans paid no income taxes and all government expenditures, local, state, and Federal  were less than 12% of the nation’s gross domestic product.

The days of peace, prosperity and principles, those were the days.

Calvin Coolidge was and knew he was not a great man, but Coolidge was a man of character, principle and achievement, a man of great virtue.

Coolidge was the probably the last President who truly believed in Constitutional government as set forth in the United States Constitution.

Coolidge was a tax reformer who cut the extremely high tax rates for the simple reason that they were morally wrong and did not raise much tax revenue.

Top U.S. Federal marginal income tax rate from 1913 to 2009

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

Coolidge cut the national debt by one-third by slashing government spending.

The combination of tax rate reductions and prudent limited Federal Government spending produced a period of economic growth called the decade of prosperity, Coolidge prosperity or the roaring twenties.

1920’s

Gov. Coolidge for Vice-President (1920)

One Republican that comes closest to Calvin Coolidge is Ron Paul, another classical liberal or libertarian.

Ron Paul: A New Hope

MSNBC’s Hardball (4-22-2010): Chris Matthews Interviews Ron Paul

Ron Paul : Don’t tread on me

Yes, the American would like to go back to Calvin Coolidge and Thomas Jefferson by downsizing the Federal Government and reforming the out-of-control government spending and confiscatory system of Federal income taxation.

Both Barry Goldwater and Calvin Coolidge are heroes to many of conservatives and libertarians.

I have been a classical liberal for many years and would like to see a limited government classical liberal as President of the United States that put faith, families and freedom first.

Both the Democratic and Republican parties have deeply penetrated at the local, county, state and Federal level by Progressive Radical Socialists that want the American people to be dependent upon government.

Both political parties have ignored the will and sovereignty of the American people on Federal government spending, taxation, deficits, illegal immigration and health care.

H. L. Menchen who was critical of Coolidge while he lived, wrote of Coolidge after he died:

 “He begins to seem, in retrospect, an extremely comfortable and even praiseworthy citizen. His failings are forgotten; the country remembers only the grateful fact that he let it alone. Well, there are worse epitaphs for a statesman. If the day ever comes when Jefferson’s warnings are heeded at last, and we reduce government to its simplest terms, it may very well happen that Cal’s bones now resting inconspicuously   in the Vermont granite will come to be revered as those of a man who really did the nation some service.”  

America needs a new political party dedicated to  replacing the mixed economy welfare state with free market capitalism and a representative republic limited constitutional government.

America needs a President that will leave the American people alone and minds his own business.

America needs a President that will slash the Federal Government by closing ten Federal Departments and replaces all Federal income, payroll, capital gains, estate and gift taxes with the FairTax, a national consumption sales tax.

America needs a modern-day Calvin Coolidge noted for the clarity and directness of his message to the American people.

Join millions of Americans in Washington D.C. on August 28, 2010 at the Lincoln Memorial.

The American People March on Washington D.C.–August 28, 2010–At The Lincoln Memorial! Mark Your Calendar–Be There–Three Million Minimum–Join The Second American Revolution

A wise old owl lived in an oak
The more he saw the less he spoke
The less he spoke the more he heard.
Why can’t we all be like that wise old bird?
 

Why indeed.

Silent Cal would be smiling.

Background Articles and Videos 

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Uncommon Knowledge: The Great Depression with Amity Shlaes

The Presidency of Calvin Coolidge

Robert H. Ferrell

“…Ferrell’s analysis of the Coolidge years shows how the president represented the essence of 1920s Republicanism. A believer in laissez-faire economics and the separation of powers, he was committed to small government, and he and his predecessors reduced the national debt by a third. More a manager than a leader, he coped successfully with the Teapot Dome scandal and crises in Mexico, Nicaragua, and China, but ignored an overheating economy. Ferrell makes a persuasive case for not blaming Coolidge for the failures of his party’s foreign policy; he does maintain that the president should have warned Wall Street about the dangers of overspeculating but lacked sufficient knowledge of economics to do so.

Drawing on the most recent literature on the Coolidge era, Ferrell has constructed a meticulous and highly readable account of the president’s domestic and foreign policy. His book illuminates this pre-Depression administration for historians and reveals to general readers a president who was stern in temperament and dedicated to public service. …”

http://www.kansaspress.ku.edu/fercoo.html

Calvin Coolidge

“…John Calvin Coolidge, Jr. (July 4, 1872 – January 5, 1933) was the 30th President of the United States (1923–1929). A Republican lawyer from Vermont, Coolidge worked his way up the ladder of Massachusetts state politics, eventually becoming governor of that state. His actions during the Boston Police Strike of 1919 thrust him into the national spotlight. Soon after, he was elected as the 29th Vice President in 1920 and succeeded to the Presidency upon the sudden death of Warren G. Harding in 1923. Elected in his own right in 1924, he gained a reputation as a small-government conservative.

Coolidge restored public confidence in the White House after the scandals of his predecessor’s administration, and left office with considerable popularity.[2] As a Coolidge biographer put it, “He embodied the spirit and hopes of the middle class, could interpret their longings and express their opinions. That he did represent the genius of the average is the most convincing proof of his strength.”[3] Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Ronald Reagan Administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government programs and those who believe the federal government should be more involved in regulating and controlling the economy.[6] …”

“…Coolidge’s taxation policy was that of his Secretary of the Treasury, Andrew Mellon: taxes should be lower and fewer people should have to pay them.[113] Congress agreed, and the taxes were reduced in Coolidge’s term.[113] In addition to these tax cuts, Coolidge proposed reductions in federal expenditures and retiring some of the federal debt.[113] Coolidge’s ideas were shared by the Republicans in Congress, and in 1924 Congress passed the Revenue Act of 1924, which reduced income tax rates and eliminated all income taxation for some two million people.[113] They reduced taxes again by passing the Revenue Acts of 1926 and 1928, all the while continuing to keep spending down so as to reduce the overall federal debt.[114] By 1927, only the richest 2% of taxpayers paid any income tax.[114] Although federal spending remained flat during Coolidge’s administration, allowing one-fourth of the federal debt to be retired, state and local governments saw considerable growth, surpassing the federal budget in 1927.[115] …”

“Civil Rights

Coolidge spoke out in favor of the civil rights of African Americans and Catholics.[127] He appointed no known members of Ku Klux Klan to office; indeed the Klan lost most of its influence during his term.[128]

In 1924, Coolidge responded to a letter that claimed the United States was a “white man’s country”:

“….I was amazed to receive such a letter. During the war 500,000 colored men and boys were called up under the draft, not one of whom sought to evade it. [As president, I am] one who feels a responsibility for living up to the traditions and maintaining the principles of the Republican Party. Our Constitution guarantees equal rights to all our citizens, without discrimination on account of race or color. I have taken my oath to support that Constitution….[129]

On June 2, 1924, Coolidge signed the Indian Citizenship Act, which granted full U.S. citizenship to all American Indians, while permitting them to retain tribal land and cultural rights. However, the act was not clear whether the federal government or the tribal leaders retained tribal sovereignty.[130] Coolidge repeatedly called for anti-lynching laws to be enacted, but most Congressional attempts to pass this legislation were filibustered by Southern Democrats. …”

“…Despite his reputation as a quiet and even reclusive politician, Coolidge made use of the new medium of radio and made radio history several times while President. He made himself available to reporters, giving 529 press conferences, meeting with reporters more regularly than any President before or since.[149]

Coolidge’s inauguration was the first presidential inauguration broadcast on radio. On December 6, 1923, he was the first President whose address to Congress was broadcast on radio.[150] On February 22, 1924, he became the first President of the United States to deliver a political speech on radio.[151] Coolidge signed the Radio Act of 1927, which assigned regulation of radio to the newly created Federal Radio Commission.

On August 11, 1924, Lee De Forest filmed Coolidge on the White House lawn with DeForest’s Phonofilm sound-on-film process, becoming the first President to appear in a sound film. The title of the DeForest film was President Coolidge, Taken on the White House Lawn.[152] …”

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

Calvin Coolidge

30th President of the United States
(August 3, 1923 to March 3, 1929)

Nickname: “Silent Cal”

Born: July 4, 1872, in Plymouth, Vermont
Died: January 5, 1933, in Northampton, Massachusetts

Father: John Calvin Coolidge
Mother: Victoria Josephine Moor Coolidge
Married: Grace Anna Goodhue (1879-1957), on October 4, 1905
Children: John Coolidge (1906-2000); Calvin Coolidge, Jr. (1908-24)

Religion: Congregationalist
Education: Graduated from Amherst College (1895)
Occupation: Lawyer
Political Party: Republican
Other Government Positions:

  • Northampton, MA City Councilman, 1899
  • City Solicitor, 1900-01
  • Clerk of Courts, 1904
  • Member of Massachusetts Legislature, 1907-08
  • Mayor of Northampton, MA, 1910-11
  • Member of Massachusetts Legislature, 1912-15
  • Lieutenant-Governor of Massachusetts, 1916-18
  • Governor of Massachusetts, 1919-20
  • Vice President, 1921-23 (under tiny U.S. flag Harding)

Presidential Salary: $75,000/year

Presidential Election Results:
Year Popular Votes Electoral Votes
1924 Calvin Coolidge 15,718,211 382
John W. Davis 8,385,283 136
Robert M. LaFollette 4,831,289 13

http://www.potus.com/ccoolidge.html

 http://en.wikipedia.org/wiki/File:ElectoralCollege1924.svg

Partial History of
U.S. Federal Marginal Income Tax Rates
Since 1913
Applicable
Year
Income
brackets
First
bracket
Top
bracket
Source
1913-1915 1% 7% IRS
1916 2% 15% IRS
1917 2% 67% IRS
1918 6% 77% IRS
1919-1920 4% 73% IRS
1921 4% 73% IRS
1922 4% 56% IRS
1923 3% 56% IRS
1924 1.5% 46% IRS
1925-1928 1.5% 25% IRS
1929 0.375% 24% IRS
1930-1931 1.125% 25% IRS
1932-1933 4% 63% IRS
1934-1935 4% 63% IRS
1936-1939 4% 79% IRS
1940 4.4% 81.1% IRS
1941 10% 81% IRS
1942-1943 19% 88% IRS
1944-1945 23% 94% IRS
1946-1947 19% 86.45% IRS
1948-1949 16.6% 82.13% IRS
1950 17.4% 84.36% IRS
1951 20.4% 91% IRS
1952-1953 22.2% 92% IRS
1954-1963 20% 91% IRS
1964 16% 77% IRS
1965-1967 14% 70% IRS
1968 14% 75.25% IRS
1969 14% 77% IRS
1970 14% 71.75% IRS
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 38.5% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2009 6 brackets 10% 35% Tax Foundation
http://en.wikipedia.org/wiki/Income_tax_in_the_United_States US Government Spending As Percent Of GDP
Fiscal Years 1903 to 2010
Year GDP-US
$ billion
Total Spending -total
pct GDP
1903 25.9 6.80 i
1904 25.7 7.28 i
1905 28.8 6.89 i
1906 31 6.81 i
1907 33.9 6.61 i
1908 30.1 7.90 i
1909 32.2 7.84 i
1910 33.4 8.03 i
1911 34.3 8.31 i
1912 37.4 8.09 i
1913 39.1 8.22 a
1914 36.5 9.55 i
1915 38.7 9.80 i
1916 49.6 8.22 i
1917 59.7 9.49 i
1918 75.8 22.12 i
1919 78.3 29.38 i
1920 88.4 12.81 i
1921 73.6 14.31 i
1922 73.4 12.67 a
1923 85.4 11.27 i
1924 86.9 11.49 i
1925 90.6 11.44 i
1926 96.9 11.12 i
1927 95.5 11.75 a
1928 97.4 11.75 i
1929 103.6 11.27 i
1930 91.2 13.07 i
1931 76.5 15.92 i
1932 58.7 21.19 a
1933 56.4 22.38 i
1934 66 19.40 a
1935 73.3 20.17 i
1936 83.8 20.00 a
1937 91.9 18.74 i
1938 86.1 20.53 a
1939 92.2 20.66 i
1940 101.4 20.14 a
1941 126.7 19.22 i
1942 161.9 28.15 a
1943 198.6 46.68 i
1944 219.8 50.02 a
1945 223 52.99 i
1946 222.2 35.87 a
1947 244.1 23.65 i
1948 269.1 20.47 a
1949 267.2 23.47 i
1950 293.7 23.95 a
1951 339.3 22.38 i
1952 358.3 27.88 a
1953 379.3 29.02 a
1954 380.4 29.27 a
1955 414.7 26.70 a
1956 437.4 26.47 a
1957 461.1 27.21 a
1958 467.2 28.84 a
1959 506.6 28.77 a
1960 526.4 28.74 a
1961 544.8 30.25 a
1962 585.7 28.94 i
1963 617.8 28.71 i
1964 663.6 28.50 i
1965 719.1 26.96 i
1966 787.7 27.45 i
1967 832.4 29.80 i
1968 909.8 30.47 i
1969 984.4 30.08 i
1970 1038.3 31.00 i
1971 1126.8 31.49 i
1972 1237.9 31.36 i
1973 1382.3 29.78 i
1974 1499.5 30.23 i
1975 1637.7 33.62 i
1976 1824.6 34.00 i
1977 2030.1 32.91 i
1978 2293.8 32.02 i
1979 2562.2 31.58 i
1980 2788.1 33.72 i
1981 3126.8 33.64 i
1982 3253.2 36.25 i
1983 3534.6 36.31 i
1984 3930.9 34.44 i
1985 4217.5 35.48 i
1986 4460.1 35.71 i
1987 4736.4 35.09 i
1988 5100.4 34.73 i
1989 5482.1 34.94 i
1990 5800.5 36.01 i
1991 5992.1 37.22 i
1992 6342.3 37.04 a
1993 6667.4 36.31 a
1994 7085.2 35.38 a
1995 7414.7 35.54 a
1996 7838.5 34.69 a
1997 8332.4 33.77 a
1998 8793.5 33.24 a
1999 9353.5 32.65 a
2000 9951.5 32.56 a
2001 10286.2 33.38 a
2002 10642.3 34.75 a
2003 11142.1 35.28 a
2004 11867.8 34.78 a
2005 12638.4 34.79 a
2006 13398.9 35.06 a
2007 14077.6 34.98 a
2008 14441.4 36.94 a
2009 14258.2 42.32 g
2010 14623.9 43.85 g
Legend:
i – interpolated between actual reported values
a – actual reported
g – ‘guesstimated’ projection by usgovernmentspending.com
b – budgeted estimate in US fy11 budget

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Murray Rothbard–Videos

Murray N. Rothbard–Introduction to Economics: A Private Seminar–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Econ Talk With Thomas Sowell–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Thomas E. Woods–The Market Economy–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

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Federal Reserve’s Quantitative Easing, New Term Deposit Tool and Exit Strategy To Stop Inflation in 2011 and Beyond

Posted on January 4, 2010. Filed under: Blogroll, Communications, Economics, government spending, Investments, liberty, Links, Monetary Policy, Politics, Resources, Video | Tags: , , , , |

 
“…Federal Reserve assets, in billions of dollars, seasonally unadjusted, from Jan 1, 2007 to December 23, 2009. Wednesday values, from Federal Reserve H41 release. Agency: federal agency debt securities held outright; swaps: central bank liquidity swaps; Maiden 1: net portfolio holdings of Maiden Lane LLC; MMIFL: net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility; MBS: mortgage-backed securities held outright; CPLF: net portfolio holdings of LLCs funded through the Commercial Paper Funding Facility; TALF: loans extended through Term Asset-Backed Securities Loan Facility plus net portfolio holdings of TALF LLC; AIG: sum of credit extended to American International Group, Inc. plus net portfolio holdings of Maiden Lane II and III plus preferred interest in AIA Aurora LLC and ALICO Holdings LLC; ABCP: loans extended to Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; PDCF: loans extended to primary dealer and other broker-dealer credit; discount: sum of primary credit, secondary credit, and seasonal credit; TAC: term auction credit; RP: repurchase agreements; misc: sum of float, gold stock, special drawing rights certificate account, and Treasury currency outstanding; other FR: Other Federal Reserve assets; treasuries: U.S. Treasury securities held outright. …”
http://www.econbrowser.com/archives/2009/12/term_deposit_fa.html

The Dollar Bubble

 

Quantitative easing

 Reinhart Says Fed Rate Rise Dependent on Jobless Rate: Video

http://www.youtube.com/watch?v=Rkh3Hfsni1s

While I expect the official unemployment rate to remain at or above 10% for the remainder of 2010, I also see inflation becoming a major problem towards the end of 2011 and throughout 2012 and 2013 as the economy begins a recovery.

The Federal Reserve will need to rapidly reduce the reserves of the commercial banks and raise interest rates to prevent a repeat of the late 1970s and early 1980s with rising inflation rates.

I seriously doubt the Fed will act fast enough to absorb these reserves for the simple reason that they will be fearful of stopping the recovery and a return to double digit unemployment rates, especially with 2012 being an election year.

While the new term deposit tool may be of some assistance, it is not the cure for an expansionary monetary policy whose objective of expanding credit that will only result of another asset bubble.

Time to end the Fed and its government intervention or more correctly bank cartel intervention into the economy.

The Fed’s inept handling of monetary policy that fueled the real estate bubble will only lead to another bubble in another asset class or even a repeat of the real estate bubble.

The Federal Government’s intervention into the US economy is one of causes of the Obama Depression and the Federal Reserve is an active partner in crime in robbing the American people of the purchasing power of their dollars or money.

 

Background Article and Videos

“…If banks were to return to the historical patterns of managing reserves, the trillion in excess reserves would end up as circulating currency with dramatically inflationary consequences. So there has been considerable discussion within the Federal Reserve of an exit strategy, or how to undo the doubling of the Fed’s balance sheet. Plan A is that the problem will take care of itself. As the economy improves, the need for the Fed to hold on to these loans and assets diminishes, and the Fed would stop rolling over loans and sell off assets to destroy the reserves it had previously created.

But there’s always been a serious question as to whether the Fed would risk sabotaging a fragile recovery by removing its support too quickly. For this reason, Fed officials have a number of backup plans in mind. The Fed set the stage for one of these by introducing the policy of paying interest on reserves in the fall of 2008. One of the reasons banks are content at the moment to let the reserves created by the Fed stand idle overnight is that, unlike the earlier rules, banks now earn interest on those idle balances. If banks become less willing to hold those surplus funds, the Fed could simply raise the interest rate it paid on deposits to whatever it took to persuade the banks to keep the reserves in their account with the Fed. In effect, reserves held in account with the Fed today function just like treasury bills. But whereas bills are used by the U.S. Treasury to borrow from the public, reserves are used by the Fed to borrow from banks, the proceeds of which borrowing the Fed has used to purchase MBS.

The problem with raising the interest rate as an exit strategy is the same as the problem with Plan A– the Fed is unlikely to want to raise interest rates as long as significant risk of a double downturn remains. Last summer Bernanke also detailed two other possible tactics, both of which again amount in effect to direct borrowing by the Fed. Initial steps to implement both of these have subsequently been announced by the Fed. …”

http://www.econbrowser.com/archives/2009/12/term_deposit_fa.html

 

Uri Man discusses Fed’s new Term Deposits on Fox Business

 

LearningMarkets.com: What is Quantitative Easing

Quantitative easing, or printing money to solve the Credit Crisis

Glen Beck: 800 Billion More for Fannie and Freddie

Fannie And Freddie – Unlimited Federal Money

The FED may Try to Drain the Pool

Blank check for Fannie Freddie: Absolute Outrage

Capital Limits Removed for Fannie, Freddie

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Obama’s Christmas Eve Rape of The American Taxpayer–Pouring Trillion of Taxpayer Money Down the Fannie Mae and Freddie Mac Toilet Bowl–Totally Corrupt and Criminal Politicians!

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The Latest From Peter Schiff–Videos

Posted on January 4, 2010. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Raves, Resources, Video, Wisdom | Tags: , , |

Peter Schiff P1

Peter Schiff P2

Peter Schiff P3

Peter Schiff P4

Peter Schiff P5

Background Articles and Videos

 

12/28/2009 Peter Schiff On The Glenn Beck Show: Will Gov’t Get Out Of The Way In 2010?

 

 

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Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Yaron Brook–Videos

David Gordon–Five Best Books on the Current Crisis–Video

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

Murray Rothbard–Videos

Rothbard On Keynes–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Investors

Peter Schiff–Videos

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter

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Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Posted on August 6, 2009. Filed under: Blogroll, Communications, Economics, Education, Employment, Energy, Fiscal Policy, Law, liberty, Monetary Policy, Taxes, Technology, Video | Tags: , , , , , , |

Updated September 9, 2015ben_bernanke

NEWSHOUR | Bernanke, On The Record, Part 1 | PBS

NEWSHOUR | Bernanke, On The Record, Part 2 | PBS

NEWSHOUR | Bernanke, On The Record, Part 3 | PBS

Central Banking after the Great Recession – A Conversation with Ben Bernanke

The Chairman Part 1

The Chairman Part 2

Quantitative Easing Explained

60 minutes Ben Bernank Interview December 5 2010

Monetary Policy and the Economy: A Conversation with Ben S. Bernanke, introduced by George W. Bush

How Does Monetary Policy Affect the U.S. Economy? Ben Bernanke & Elizabeth Warren (2013)

CNBC: Ron Paul’s question makes Ben Bernake’s voice quiver

Bernanke Speaks on Economy (Part 1) – Bloomberg

Bernanke Speaks on Economy (Part 2) – Bloomberg

Bernanke Speaks on Economy (Part 1) – Bloomberg

Bernanke Speaks on Economy (Part 2) – Bloomberg

Bernanke 1: Oversight , Financial Infrastructure, Boom Mentality, Great Depression, Recession 2010

Bernanke 2: Capitalism broadly construed has been enormous success, Mark-To-Market

Bernanke 3: Deflation, Inflation, Stimulus, G20 Focus on Global Reach of Crisis

Bernanke 4: Systemic Risk Authority, Stress Testing, Princeton vs Fed Res

Ben Bernanke Interview Part 1

Ben Bernanke Interview Part 2

Ben Bernanke Interview Part 3

Ben Bernanke Interview Part 4

Ben Bernanke Holds Q&A Session

Ben Bernanke at Princeton

The Fed Under Fire

DeMint Amendment to Audit Federal Reserve Blocked by Senate Leadership

Alan Grayson: “Which Foreigners Got the Fed’s $500,000,000,000?” Bernanke: “I Don’t Know.”

Peter Schiff calls Ben Bernanke a Liar

Ben Bernanke was Wrong

“Bernanke is an idiot” – Jim Rogers on Bloomberg 2008.01.18

Background Articles and Videos

 

Ben Bernanke

“…Ben Shalom Bernanke[1] (pronounced /bərˈnæŋki/ bər-NANG-kee) was born on December 13, 1953. He is the Chairman of the Board of Governors of the United States Federal Reserve. Bernanke succeeded Alan Greenspan on February 1, 2006. He was ranked the 4th most powerful person in the world in an annual ranking by Newsweek in 2008.[2]

…”

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

Milton Friedman: The Purpose of the Federal Reserve

Milton Friedman: The Purpose of the Federal Reserve

Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

Related Post On Pronk Palisades

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Mark-To-Market Accounting Rules Driving Banks To Bailouts–Change The Rules–Fed Chair Bernanke Explains!–Videos

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Obama Depression–Yes We Can!–Hyperinflation–Hope Not–Double Digit Inflation Likely in 2012!

Frederic Bastiat–The Law–Videos

Yaron Brook–Videos

Friedrich Hayek–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Ludwig von Mises–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

Read Full Post | Make a Comment ( 18 so far )

Obama Depression–Yes We Can!–Hyperinflation–Hope Not–Double Digit Inflation Likely in 2012!

Posted on August 5, 2009. Filed under: Blogroll, Economics, Employment, Investments, Links, Monetary Policy, Philosophy, Politics, Quotations, Rants, Raves, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , |

 

The Economic Collapse of ’09 – Economic Apocalypse – Depression and Revolution

 

NEWSHOUR | Bernanke, On The Record, Part 2 | PBS

 

Economic Expectations – Unemployment Rate May Reach 15% – Bloomberg

Peter Schiff on ReasonTV

Recession Bottoming – Greenspan – Bloomberg

The Obama Depression will last through the fourth quarter of 2010 with the official unemployment rate U-3 exceeding 13% during the second quarter of 2010 before declining to under 10% by the end of 2010.

 

U1: Percentage of labor force unemployed 15 weeks or longer.
U2: Percentage of labor force who lost jobs or completed temporary work.
U3: Official unemployment rate per ILO definition.
U4: U3 + “discouraged workers”, or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
U5: U4 + other “marginally attached workers”, or “loosely attached workers”, or those who “would like” and are able to work, but have not looked for work recently.
U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons.
Note: “Marginally attached workers” are added to the total labor force for unemployment rate calculation for U4, U5, and U6. The BLS revised the CPS in 1994 and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5.[35]

The current number of Americans seeking full time jobs exceeds 15,000,000 (U-3 unemployment measure) and 25,000,000 (U-6 unemployment measure).

The number of Americans seeking full time jobs will exceed 20,000,000 (U-3 unemployment measure) and 30,000,000 (U-6 unemployment measure) by the second quarter of 2010.

During 1933 the worse year of the Great Depression the number of unemployed Americans was roughly 13,000,000.

While the rates of unemployment measured by either U-3 or U-6 are still far below those of the Great Depression worse year’s of 24.9% in 1933, the number of unemployed Americans exceeds 1933 by at least 2,000,000 and closer to 10,000,000.

The Obama Depression is worse than the Great Depression in sheer number of unemployed Americans.

The failed stimulus and bailout packages demonstrate clearly that President Obama either does not know what he is doing or is deliberately wrecking the US economy, destroying jobs and killing the American dream.

Only a complete economic illiterate or enemy of the American people would be proposing the largest tax increase in US history in the middle of the worse recession/depression.

Sean Hannity Talks with Dick Morris about Barack Obama’s Cap-and-Trade Bill [FOX News]

 

Obama: My Plan Makes Electricity Rates Skyrocket

 

Greta: Will Barack Obama Break His No Tax Pledge for the Middle Class? [FOX News]

 

Mike Pence (R-IN) Cap & Trade Speech (close captioned)

 

 

If both the cap and trade energy tax and the Obama health care reform bills pass, the Obama Depression will last through 2011 before ending in 2012.

Expect the inflation percentage rates to hit a double digit range between 10% and 20% in the 2012 time period.

 

Economic Expectations – Why Inflation Isn’t the Danger – Bloomberg

 

Bernanke Walks A Tightrope – Bloomberg

 

In-Depth Look – Inflation Vs Unemployment – Bloomberg

 

Marc Faber there will be war and Hyperinflation

 

MARC FABER JULY 2009 EXPECT TOTAL COLLAPSE SOON

 

John Williams ShadowStats.com “Go long Scotch!”

 

ShadowStats.com founder John Williams on M3 Money Supply

 

 

Hyperinflation Nation Part 1/3

 

Hyperinflation Nation Part 2/3

 

Hyperinflation Nation Part 3/3

 

Peter Schiff and Marc Faber on The Glenn Beck

 

 

 

 

Background Articles and Videos

 

“…The Bureau of Labor Statistics measures employment and unemployment (of those over 15 years of age) using two different labor force surveys[32] conducted by the United States Census Bureau (within the United States Department of Commerce) and/or the Bureau of Labor Statistics (within the United States Department of Labor) that gather employment statistics monthly. The Current Population Survey (CPS), or “Household Survey”, conducts a survey based on a sample of 60,000 households. This Survey measures the unemployment rate based on the ILO definition.[33] The data are also used to calculate 5 alternate measures of unemployment as a percentage of the labor force based on different definitions noted as U1 through U6:[34]

U1: Percentage of labor force unemployed 15 weeks or longer.
U2: Percentage of labor force who lost jobs or completed temporary work.
U3: Official unemployment rate per ILO definition.
U4: U3 + “discouraged workers”, or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
U5: U4 + other “marginally attached workers”, or “loosely attached workers”, or those who “would like” and are able to work, but have not looked for work recently.
U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons.
Note: “Marginally attached workers” are added to the total labor force for unemployment rate calculation for U4, U5, and U6. The BLS revised the CPS in 1994 and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5.[35]

…”

Year Unemployment (% labor force)

1933   24.9
1934   21.7
1935   20.1
1936   16.9
1937   14.3
1938   19.0
1939   17.2
1940   14.6
1941      9.9
1942     4.7
1943     1.9
1944     1.2
1945     1.9

source: Historical Statistics US (1976) series D-86

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

Unemployment 1930’s vs Today

http://www.scribd.com/doc/13282170/Unemployment-1930s-vs-Today

U3 and U6 Unemployment during the Great Depression

U3U5UnemploymentGreatDepression

http://www.economicpopulist.org/content/u3-and-u6-unemployment-during-great-depression

 

Vintage pro-inflation propaganda

 

FDR on mortgages, gold, reflation, and labor standards

 

Power of the Market – How to Cure Inflation 1

 

Power of the Market – How to Cure Inflation 2

 

 

Power of the Market – How to Cure Inflation 3

 

 

 Duck Tales Inflation Lesson

 

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Is Barack Obama Terrifying American Voters?–First We Kill The Babies, Then We Kill The Old, Then We Force All Americans To Purchase A Government Mandatory “Qualified” Plan–Death Wish!

The Triumph of Capitalism and The Power of Consumer Sovereignty Over Massive Government Failure–Bankruptcy of General Motors–Now Government Motors! 

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

Rush Limbaugh: Obama is Destroying the Economy!–Videos 

 Job Creating Businesses and CIT–Videos

President Barack Obama Beats It–President Franklin Roosevelt Record–Worse Unemployment Numbers Since 1933–14,700,000 Unemployed Americans Greater than 13,000,000 in 1933!

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

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George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter 

White House Memo: Carbon Dioxide Is Not A Pollutant and A Cap And Trade Program (Carbon Dioxide Tax) Serious Economic Impact –The Smoking Gun Video!

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The 12 Trillion–$12,000,000,000,000 Crime of The Century: The Decline and Fall of United States of America By Radical Socialist Spending–Look Before You Leap!

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Bailed Out Bank Trillion Dollar Derivative Exposure

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Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

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Peter Schiff–Videos

Posted on June 19, 2009. Filed under: Blogroll, Economics, Education, Employment, Energy, Investments, Links, People, Politics, Raves, Regulations, Video | Tags: , , , , , , , , |

 POLITICS-US-SENATE-SCHIFF

 “There is nothing the Fed can do to combat inflation unless they hike rates aggressively.”

~Peter Schiff

 

Peter Schiff : Economy is phony, Dollar would collapse if not for BRIC countries interventions

 

Peter Schiff predicts Imminent Doom – Fear And Loathing In America

 

Authors@Google: Peter Schiff

 

Why the Meltdown Should Have Surprised No One

 

Peter Schiff Responds to Critics on Fox Business 02-02-09

 

Peter Schiff: They’re Gonna Change This Into An Inflationary Depression!

  

Dollar Collapse – The Schiff Has Hit The Fan – End Game 2012

 

10/13/2008 – Peter Schiff On Glenn Beck: Inflation Nation?

 

Peter Schiff Analogies

 

Peter Schiff Was Right 2006 – 2007 (2nd Edition)

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 1 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 2 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 3 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 4 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 5 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 6 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 7 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 8 of 8

 

February 2006 Peter Schiff U.S. Bubble Economy Part 1 of 5

 

February 2006 Peter Schiff U.S. Bubble Economy Part 2 of 5

 

February 2006 Peter Schiff U.S. Bubble Economy Part 3 of 5


 

 

February 2006 Peter Schiff U.S. Bubble Economy Part4 of 5


 

 

February 2006 Peter Schiff U.S. Bubble Economy Part 5 of 5

 

PETER SCHIFF – 6 YEARS AGO — “…and they will panic” – PT1

 

PETER SCHIFF – 6 YEARS AGO — “…and they will panic” – PT1

“The Fed’s study is flawed as the comparisons are not relevant, … When the world dumps dollars, they will also dump Treasuries, sending rates soaring.”

~Peter Schiff

Background Articles and Videos

Peter Schiff

Peter David Schiff (born March 23, 1963)[1] is an American economic commentator, author and licensed stock broker who currently serves as president of Euro Pacific Capital Inc., a brokerage firm based in Darien, Connecticut which he owns.[2]

Schiff is best known for his bearish views on the United States economy and for his prescient predictions of the economic crisis of 2008.[3][4] He has risen to media prominence following the publication of his book Crash Proof: How to Profit From the Coming Economic Collapse, published in 2007.

Schiff appears on American financial news programs on networks such as CNBC, CNN, CNN International, Fox News, Bloomberg TV and Fox Business.

Schiff is a supporter of the Austrian School of Economics and the Ludwig von Mises Institute[5], and was an economic adviser for Ron Paul’s campaign in the 2008 Republican Party primaries, through which Schiff also expressed support for sound money, limited government, and free market capitalism.

As of June 2009[update], Schiff is eyeing a run for the Republican nomination to challenge Democrat Christopher J. Dodd, Connecticut’s five-term senior senator.[6]

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

The World Won’t Buy Unlimited U.S. Debt

We’re asking others to sacrifice for our ‘stimulus.’

By Peter Schiff

“…What he might have said was that the nations funding the majority of America’s public debt — most notably the Chinese, Japanese and the Saudis — need to be prepared to sacrifice. They have to fund America’s annual trillion-dollar deficits for the foreseeable future. These creditor nations, who already own trillions of dollars of U.S. government debt, are the only entities capable of underwriting the spending that Mr. Obama envisions and that U.S. citizens demand.

These nations, in other words, must never use the money to buy other assets or fund domestic spending initiatives for their own people. When the old Treasury bills mature, they can do nothing with the money except buy new ones. To do otherwise would implode the market for U.S. Treasurys (sending U.S. interest rates much higher) and start a run on the dollar. (If foreign central banks become net sellers of Treasurys, the demand for dollars needed to buy them would plummet.)

In sum, our creditors must give up all hope of accessing the principal, and may be compensated only by the paltry 2%-3% yield our bonds currently deliver. …”

http://online.wsj.com/article/SB123266988914308217.html

 

Peter Schiff Video Blog

http://www.youtube.com/user/SchiffReport

 

Peter Schiff Blog

http://peterschiff.wordpress.com/2009/06/19/peter-schiff-blog/

 

Euro Pacific

http://www.europac.net/profile.asp

 

Ludwig von Mises Institute

http://mises.org/

 

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The Federal Reserve System Expanded–Are You Kidding–How About Disbanded and Shut-Down For Incompetence–End The Fed–Videos

Posted on June 18, 2009. Filed under: Blogroll, Books, Economics, Employment, Energy, Foreign Policy, Homes, Investments, Law, liberty, Links, Politics, Quotations, Rants, Raves, Regulations, Talk Radio, Taxes, Video, Wisdom | Tags: , , , , , , , , , , , , |

Federal_Reserve_entrance 

 

“True, governments can reduce the rate of interest in the short run. They can issue  additional paper money.

They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity.

But such a boom is bound to collapse soon or late and bring about a depression.”

~Ludwig von Mises, Omnipotent Government, page 251

The Federal Reserve System is a private banking cartel that sets the price of money, serves as a lender of last resort, regulates member banks, and is the central bank of the United States responsible for the setting and the  implemenation of monetary policy, the expansion and contraction of the money supply with the goal of general price level stability.

The Federal Reserve fueled the housing bubble by expanding the money supply and keeping interest rates too low for too long.

The Federal Reserve failed to adequately regulate banks in particular large banks.

The Federal Reserve deserves a large portion  of the blame for the current financial crisis and recession.

Screw up big time and now the President proposes to expand their role.

Give me a break.

President Obama is bought and paid for by the large Wall Street financial institutions and the banking cartel and will do anything they want.

Thei Federal Reserve System’s  incompetence has destroyed trillions in wealth and transfered more wealth from the American people to those to big to fail in the form of bailouts–the crime of the century.

Terminate the tyranny of the banking cartel and abolish the central bank–the Federal Reserve System.

End The Fed! 

 

President Obama Announces Financial Regulation Reform

 

Dr Yaron Brook of the Ayn Rand Center for Individual Rights on Glenn Beck show June 18 2009

 

How Abolishing the Fed Would Change Everything

 

Obama’s Financial Overhaul

 

Experts discuss effect of Obama financial plan

 

Inside Look – Reforming Financial Regulation – Bloomberg

 

In-Depth Look – Obama Set To Overhaul Financial Regulation – Bloomberg

 

In-Depth Look – Obama’s Regulation Overhaul – Bloomberg

 

In-Depth Look – Impact Of Obama’s Regulation Reform On Banks – Bloomberg

 

Obama’s Regulation Reform

 

The Fed Has Increased The Monetary Base From $850 Billion To $2.2 Trillion!

 

Financial crisis: Gov’t regulation creating crony capitalism

 

Gingrich warns Obama moving towards political dictatorship

 

Greenspan: Why do we need a Central Bank?

 

Ron Paul on Federal Reserve, banking and economy

 

Bubble Economics

 

Peter Schiff Vlog Report 18 june 2009

 

June 2009: OBAMA GIVES THE FEDERAL RESERVE EVEN MORE POWER!

 

 

No Risk of Hyperinflation Says Federal Reserve Chairman Ben Bernanke. Rest easy Glenn Beck009

 

No Risk of Hyperinflation Says Federal Reserve Chairman Ben Bernanke. Rest easy Glenn Beck

 

Jim Rogers on CNBC: ABOLISH THE FEDERAL RESERVE!

 

Why the Meltdown Should Have Surprised No One

 

 

A Recipe for the Next Great Depression

 

End The Fed: Final Cut

 

“The interest of the capitalists are scarcely ever represented in monetary policy.”

~Ludwig von Mises, The Theory of Money and Credit, page 414

 

 Eccles Building Constitution  Ave.

Background Articles And Videos

Eccles Building Boardroom

 

Federal Reserve System

“…The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act (signed by Woodrow Wilson), it is a quasi-public and quasi-private (government entity with private components) banking system[1] that comprises (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) twelve regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. Since February 2006, Ben Bernanke has served as the Chairman of the Board of Governors of the Federal Reserve System. Donald Kohn is the current Vice Chairman (Term: June 2006–June 2010).

…”

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

Board of Governors of the Federal Reserve System

http://www.federalreserve.gov/

Summary Of Obama Financial Regulation Plan

“…WASHINGTON -(Dow Jones)- A summary of President Barack Obama’s regulatory plan, “Financial Regulatory Reform: A New Foundation.”

For the regulation of financial firms, the proposal:

–Creates Financial Services Oversight Council, which would coordinate activities among regulators, replacing the President’s Working Group.

–Ensures that any financial firm big enough to pose a risk to the financial system would be heavily regulated by the Federal Reserve, including regular stress tests.

–Gives the Fed oversight over parent companies and all subsidiaries, including unregulated units and those based overseas.

–Says the Treasury will re-examine capital standards for banks and bank-holding companies.

–Tells regulators to issue guidelines on executive compensation, with the goal of aligning pay with long-term shareholder value, including a re-examination of the utility of golden parachutes.

–Creates a new bank agency, the National Bank Supervisor, and kills the Office of Thrift Supervision. The new agency will look over national banks, including federal branches and agencies of foreign banks.

–Forces industrial banks, non-bank financial firms and credit-card banks to become more traditional bank holding companies subject to federal oversight.

–Kills the SEC program that supervised Wall Street investment banks.

–Requires hedge funds, private-equity funds and venture-capital funds to register with the SEC, allowing the agency to collect data from the firms.

–Subjects hedge funds to new requirements in areas such as record keeping, disclosure and reporting. The oversight would include assets under management, borrowings, off-balance sheet exposures.

–Urges the SEC to give directors of money-market mutual funds the power to suspend redemptions, and take other action to strengthen regulation of money-market mutual funds to prevent runs.

–Beefs up oversight of insurance by creating an office within the Treasury to coordinate information and policy.

–Kicks off a process by which the Treasury and the Department of Housing and Urban Development will figure out the future of mortgage giants Fannie Mae (FNM), Freddie Mac (FRE) and the federal home-loan banks. …”

http://online.wsj.com/article/BT-CO-20090617-712735.html

 

Obama’s new financial regs – worse than we imagined

Rick Moran 

“…Hey kids! Let’s create a brand, spanking, new federal bureaucracy to protect consumers of mortgages, credit cards, and other financial instruments from their own stupidity!
  
That’s just one of the nanny state goodie being proposed by the Obama administration to address what they say were the causes of the financial meltdown.  
The plan seeks to overhaul the nation’s outdated system of financial regulations. Senior officials debated using a bulldozer to clear the way for fundamental reforms but decided instead to build within the shell of the existing system, offering what amounts to an architect’s blueprint for modernizing a creaky old building.
 
The White House makes its case for this approach in an 85-page white paper that describes the roots of the crisis. Gaps in regulation allowed companies to make loans many borrowers could not afford. Funding came from new kinds of investments that were poorly understood by regulators. Big firms paid employees massive bonuses, while setting aside little money to absorb potential losses. 


Surely some loans were made by criminals. The laws are already in place to deal with them. But how can you close a “gap” in the stupidity of the borrower? Never fear, the government is here!
 

The government would create a new agency to protect consumers of mortgages, credit cards and other financial products.


We welcome our ACORN overlords. …”
 
“…The problem, of course, is vastly expanding the mandate of the Federal Reserve – to give the quasi-independent agency regulatory power not answerable to Congress. If you’re a company and have a complaint about how the Fed is regulating your business, I wish you good luck and bon chance. You will get no satisfaction from our lawmakers. 

 http://www.americanthinker.com/blog/2009/06/obamas_new_financial_regs_wors.html

More Perspective – Geithner Calls for Financial Regulation Overhaul – Bloomberg

Another Look – Geithner’s Plan for Financial Overhaul – Bloomberg

The Founding of the Federal Reserve

 

The Future of Austrian Economics


 

 

How the Federal Reserve works. Part One

 

How the Federal Reserve works. Part Two

 

How the Federal Reserve works. Part Three

 

How the Federal Reserve works. Part Four

 

How the Federal Reserve works. Part Five

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 1/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 2/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 3/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 4/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 5/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 5/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 6/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 7/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 8/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 9/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 10/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 11/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 12/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 13/13

 

 

Related Post On Pronk Palisades

 

Yaron Brook–Videos

Peter Schiff–Videos

G. Edward Griffin–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

Liberal Fascism–Jonah Goldberg–Videos

Frederic Bastiat–The Law–Videos

Friedrich Hayek–Videos

Milton Friedman–Videos

Ludwig von Mises–Videos

United States Economic Depressions–The Good, The Bad, and The Ugly–Obama’s Depression–Over 15,000,000 Americans Seek Full Time Job!

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

White House Memo: Carbon Dioxide Is Not A Pollutant and A Cap And Trade Program (Carbon Dioxide Tax) Serious Economic Impact –The Smoking Gun Video!

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

US Federal Government Fails Stress Test–Insolvent: Time Has Arrived For Downsizing–Departments and Subsidies To Be Eliminated!

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

The 12 Trillion–$12,000,000,000,000 Crime of The Century: The Decline and Fall of United States of America By Radical Socialist Spending–Look Before You Leap!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

 

 

This is a nightmare for those who value free, independent markets. And it might get worse yet. Interpreting these broad goals will be the job of federal regulators who may take the opportunity to impose even more draconian restrictions. …”

 

 

 

Some of those “causes,” according to this piece by Binyamin Appelbaum and David Cho of the Washington Post, are remarkable for the ideological basis on which they have been analyzed:

Read Full Post | Make a Comment ( None so far )

G. Edward Griffin–Videos

Posted on June 18, 2009. Filed under: Blogroll, Books, Communications, Economics, Employment, Foreign Policy, Homes, Investments, Law, liberty, Life, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Security | Tags: , , , , |

  

 G_Edwards

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 1/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 2/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 3/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 4/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 5/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 5/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 6/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 7/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 8/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 9/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 10/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 11/13

 

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 12/13

G. Edward Griffin in Austin, Texas 4/29/2008 – Part 13/13

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 1 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 2 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 3 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 4 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 5 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 6 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 7 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 8 of 9

 

G. Edward Griffin lastest interview 1of9 federal reserve inflation fed Part 9 of 9


 

 

 

Background Articles and Videos

G. Edward Griffin

 

“…G. Edward Griffin (born November 7, 1931) is an American film producer, author, and political lecturer.[1] Starting as a child actor, he became a radio station manager before age 20. After writing for the 1968 Wallace campaign, he began a career of producing documentaries and books on often-debated topics like cancer, Noah’s ark, and the Federal Reserve, as well as on right-libertarian views of the U.S. Supreme Court, terrorism, subversion, and foreign policy. Since the 1970s, Griffin has promoted Laetrile as a killer of cancer cells, a view not accepted by a majority of scientists.[2][3] He has also promoted the Durupınar site as hosting the original Noah’s ark, against skeptics as well as near-Ararat Creationists. He has opposed the Federal Reserve since the 1960s, saying it constitutes a banking cartel and an instrument of war and totalitarianism.[4] In 2002, Griffin founded the individualist network Freedom Force International. …”

 

The_Creature_from_Jekyll_Island

“…Griffin enrolled in the College for Financial Planning in Denver, Colorado,[23] became a Certified Financial Planner in 1989, and described the U.S. money system in his 1993 movie and 1994 book on the Federal Reserve System, The Creature from Jekyll Island.[1] This popular book[24][25] has been a business bestseller;[26][27] it has been reprinted in Japanese, 2005, and German, 2006. The book also influenced Ron Paul during the writing of a chapter on money and the Federal Reserve in Paul’s New York Times number-one bestseller, The Revolution: A Manifesto, which recommended Griffin’s book on its “Reading List for a Free and Prosperous America”.[28]

The title refers to the November 1910 meeting at Jekyll Island, Georgia, of seven bankers and economic policymakers, who represented the financial elite of the Western world.[29][30] The meeting was recounted by Forbes founder B. C. Forbes in 1916,[31] and recalled by participant Frank Vanderlip as “the actual conception of what eventually became the Federal Reserve System”.[32] Griffin states that participant Paul Warburg describes the Jekyll Island meeting as “this most interesting conference concerning which Senator Aldrich pledged all participants to secrecy”.[33]

Griffin’s work stresses[34] the point which Federal Reserve chair Marriner Eccles made in Congressional testimony in 1941: “If there were no debts in our money system, there wouldn’t be any money.”[29] Griffin advocates against the debt-based fiat money system on several grounds, stating that it devours individual prosperity through inflation and it is used to perpetuate war. He also described a framework of central bankers underwriting both sides of an ongoing war or revolution.[35] Griffin says that the United Nations, the Council on Foreign Relations, and the World Bank are working to destroy American sovereignty through a system of world military and financial control, and he advocates for United States withdrawal from the United Nations.[10]

Edward Flaherty, an academic economist,[36] characterized Griffin’s description of the secret meeting on Jekyll Island as “conspiratorial”, “amateurish”, and “suspect”.[37] Griffin’s response was that Flaherty had miscategorized the book with other publications and had labeled all criticisms of the Federal Reserve as the results of conspiracy theory.[38]

Griffin’s dreams of a free-market, private-money system superior to the Fed caused economist Bernard von NotHaus to deploy such a system in 1998. Griffin states that von NotHaus’s private silver certificates, known as Liberty Dollars, are “real money”.[39]

…”

http://en.wikipedia.org/wiki/G._Edward_Griffin

 

Related Posts On Pronk Palisades

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

Liberal Fascism–Jonah Goldberg–Videos

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

US Federal Government Fails Stress Test–Insolvent: Time Has Arrived For Downsizing–Departments and Subsidies To Be Eliminated!

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

The 12 Trillion–$12,000,000,000,000 Crime of The Century: The Decline and Fall of United States of America By Radical Socialist Spending–Look Before You Leap!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Read Full Post | Make a Comment ( 1 so far )

Big Bad Bureaucratic Bust: Government Intervention in Housing Caused Financial Crisis and Economic Recession–Progressive Government Failure!

Posted on June 2, 2009. Filed under: Blogroll, Books, Communications, Economics, Employment, Energy, Homes, Immigration, Investments, Law, liberty, Life, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Talk Radio, Technology, Video | Tags: , , , , , , , , , , , , , , , , |

 

loan_application

“The worst evils which mankind has ever had to endure were inflicted by bad governments.” 

~Ludwig von Mises 

 

“Who can seriously doubt that the power which a millionaire, who may be my employer, has over me is very much less than that which the smallest bureaucrat possesses who wields the coercive power of the state and on whose discretion it depends how I am allowed to live and work?” 

~Friedrich August von Hayek

 

“Hell hath no fury like a bureaucrat scorned.”

 

~Milton Friedman

  

Two people that I read and listen to are economist Thomas Sowell and investment portfolio manager Peter Schiff.

Both share my own classical liberalism philosophy and interest in economics as articulated in the writings of Ludwig von Mises, Friedrich A. Hayek, and Milton Friedman.

For background information I recommend viewing the videos from the late Bill Seidman, Marshall Black interviewed by Bill Moyers and several professors at the Wharton School of the University of Pennsylvania. 

Economist Dr. Thomas Sowell on the financial crisis

 

Glenn Beck & Thomas Sowell, Housing Boom and Bust 06 01 09

 

The Housing Boom & Bust

 

Thomas Sowell – Obama’s Vision

 

Thomas Sowell 1 of 8 People Late House Payment or in Foreclosure

 

Peter Schiff’s Predictions (2002-2009)

“…This is a set of clips of Peter Schiff from 2002 – 2009. Peter Schiff has been the dominant voice for the American people during this financial crisis. Going up against corporate shills in the media, his predictions have come true about the economy. You should listen to this man. …”

 

Why the Meltdown Should Have Surprised No One

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 1 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 2 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 3 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 4 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 5 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 6 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 7 of 8

 

Nov 2006 Peter Schiff Mortgage Bankers Speech Part 8 of 8

 

Peter Schiff On The USA Financial Market Crisis–June 2, 2009

 

“Liberalism and capitalism address themselves to the cool, well-balanced mind. They proceed by strict logic, eliminating any appeal to the emotions. Socialism, on the contrary, works on the emotions, tries to violate logical considerations by rousing a sense of personal interest and to stifle the voice of reason by awakening primitive instincts.”

~Ludwig von Mises

“To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.”

~Friedrich August von Hayek 

“Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.”

~Milton Friedman

red_houses_green_house

 

Background Articles and Videos

Thomas Sowell

“…Thomas Sowell (born June 30, 1930), is an American economist, social commentator, and author of dozens of books. He often writes from an economically laissez-faire perspective. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science. …”

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

Thomas Sowell and a Conflict of Visions


 

Thomas Sowell – Bureaucracy

 

Thomas Sowell – The Vision of the Anointed

 

Peter Schiff

“…Peter David Schiff (born March 23, 1963)[1] is an American economic commentator, author and licensed stock broker who currently serves as president of Euro Pacific Capital Inc., a fully accredited brokerage firm based in Darien, Connecticut.[2]

Schiff is best known for his bearish views on the United States economy and for having predicted the economic crisis of 2008.[3] He has risen to media prominence following the publication of his book Crash Proof: How to Profit From the Coming Economic Collapse, published in 2007.

Aside from his writings, Schiff maintains a significant media presence, often appearing on American financial news programs on networks such as CNBC, CNN, CNN International, Fox News, Bloomberg TV and Fox Business. Schiff also hosts a live Internet/shortwave radio show called “Wall Street Unspun, which is available in podcast format.”[4]

Schiff is a supporter of the Austrian School of Economics and the Ludwig von Mises Institute[5], and was an economic adviser for Ron Paul’s campaign in the 2008 Republican Party primaries, through which Schiff also expressed support for sound money, limited government, and free market capitalism. …”

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

Bill Seidman

“…Lewis William Seidman (April, 29, 1921 – May 13, 2009)[1] was an American economist, financial commentator, and former head of the FDIC.

Born in Grand Rapids, Michigan. His wife was Sally Seidman; they had six children.

Seidman received his undergraduate education at Dartmouth College, his law degree from Harvard University, and his MBA from the University of Michigan’s Ross School of Business. Seidman began working in United States government as an economic adviser to President Gerald Ford from 1974 to 1976, and later in a related capacity to President Ronald Reagan from 1982-1984. In 1985, he became the chairman of the Federal Deposit Insurance Corporation and served until 1991, working extensively during the American savings and loan crisis to restore solvency to the failing savings and loan sector of American banking. He was the first chairman of the related agency, the Resolution Trust Corporation, which was created specifically to address issues arising from the savings and loan crisis, from 1989 until his retirement from active government in 1991.

He worked as a chief financial commentator for the CNBC network, as well as an occasional speaker at various financial conferences worldwide. Seidman also joined SecondMarket, Inc. in December 2008 and served as a senior advisor to the firm.[2] In 2005, he debated former Vice-President Al Gore on economic matters at The Asian Banker Summit in Singapore March 15-17, 2005.[3][4] He spoke at four events in Asia from 2005-2007.[5]

The FDIC office complex in Arlington, VA is named for Seidman.

Seidman was one of the principal founders of Grand Valley State University, helping galvanize local support for the establishment of a public four-year university in West Michigan. [6]

In 1978, Seidman also founded The Washington Campus [7], an executive education organization which began as a consortium of U.S. business schools dedicated to educating business leaders on the public policy process.

Seidman died of natural causes in Albuquerque, New Mexico at the age of 88. …”

http://en.wikipedia.org/wiki/L._William_Seidman

 

 Economic Crisis: Causes & Cures (2 of 7)

 

Economic Crisis: Causes & Cures (3 of 7)

 

Economic Crisis: Causes & Cures (4 of 7)

 

Economic Crisis: Causes & Cures (5 of 7)

 

Economic Crisis: Causes & Cures (6 of 7)

 

Economic Crisis: Causes & Cures (7 of 7)

Moyers 1 of 3: Sharing the Blame for the Economic Crisis?

 

Moyers 2 of 3: Sharing the Blame for the Economic Crisis?

 

Moyers 3 of 3: Sharing the Blame for the Economic Crisis?

 

 

The Liars’ Poker: Economists Explain Why Hints of the Economic Crisis Eluded Them

Martin Feldstein’s Plan (part 1)

Martin Feldstein’s Plan (part 2)

Deconstructing the Subprime Crisis

 

Jeremy Siegel on the Resilience of American Finance

 

Franklin Allen on Lessons from the Subprime Crisis

 

Joseph Gyourko on Fannie, Freddie, and the Housing Bust

 

Richard Herring on What’s Next for Investment Banks

 

Wall Street’s Day of Reckoning: The Fannie & Freddie Bailout

 

Wall Streets Day of Reckoning: Turmoil in the Global Market

 

Franklin Allen on Past Crises

 

Richard Herring on Mortgage-backed Securities

 

Susan Wachter on Securitizations and Deregulation

 

Todd Sinai on Home Values

 

Richard Marston on Risk Credit Crisis

 

Marshall Blume on the Evolving Marketplace

 

Wharton Faculty Teach-In October 21, 2008

  

 

Uncommon Knowledge: The Great Depression with Amity Shlaes

 

The End

Michael Lewis

“…That’s when Eisman finally got it. Here he’d been making these side bets with Goldman Sachs and Deutsche Bank on the fate of the BBB tranche without fully understanding why those firms were so eager to make the bets. Now he saw. There weren’t enough Americans with shitty credit taking out loans to satisfy investors’ appetite for the end product. The firms used Eisman’s bet to synthesize more of them. Here, then, was the difference between fantasy finance and fantasy football: When a fantasy player drafts Peyton Manning, he doesn’t create a second Peyton Manning to inflate the league’s stats. But when Eisman bought a credit-default swap, he enabled Deutsche Bank to create another bond identical in every respect but one to the original. The only difference was that there was no actual homebuyer or borrower. The only assets backing the bonds were the side bets Eisman and others made with firms like Goldman Sachs. Eisman, in effect, was paying to Goldman the interest on a subprime mortgage. In fact, there was no mortgage at all. “They weren’t satisfied getting lots of unqualified borrowers to borrow money to buy a house they couldn’t afford,” Eisman says. “They were creating them out of whole cloth. One hundred times over! That’s why the losses are so much greater than the loans. But that’s when I realized they needed us to keep the machine running. I was like, This is allowed?” …”

http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom

 

 

Jim Rogers: They’re Printing So Much Money That Stocks Will Go To 30,000

Monetary Policy By Federal Reserve Will Cause “Double Digit” Inflation

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Thomas Sowell and Conflict of Visions–Videos 

Liberal Fascism–Jonah Goldberg–Videos

Friedrich Hayek–Videos

Milton Friedman–Videos

Ludwig von Mises–Videos

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Amity Shlaes–Videos

Thomas E. Woods, Jr.–Videos

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Bailed Out Bank Trillion Dollar Derivative Exposure

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

 

US Federal Government Fails Stress Test–Insolvent: Time Has Arrived For Downsizing–Departments and Subsidies To Be Eliminated!

The 12 Trillion–$12,000,000,000,000 Crime of The Century: The Decline and Fall of United States of America By Radical Socialist Spending–Look Before You Leap!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now! 

White House Memo: Carbon Dioxide Is Not A Pollutant and A Cap And Trade Program (Carbon Dioxide Tax) Serious Economic Impact –The Smoking Gun Video!

Gore Grilled & Gingrich Gouged–American People Oppose Massive Carbon Cap and Trade Tax Increase–Videos

Save Your Job and Life–Abolish The Environmental Protection Agency!

MAJOR REDUCTIONS IN CARBON EMISSIONS ARE NOT WORTH THE MONEY DEBATE–Videos

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

Cap and Trade Carbon Dioxide Tax: Gore’s and Obama’s Revenge on The American People–Let Them Freeze and Sweat!

Barack Obama’s Socialist Green Commissar Carol Browner

ANWR: Pristine–Pristine–Pristine–Desolute–Desolute–Desolute–Drill–Drill–Drill– McCain/Romney: Drill Here. Drill Now. Pay Less!

Al Gore 2.0 and The Coming Renewable Energy Ice Age–The Big Chill

National Center for Policy Analysis–A Global Warming Primer

Global Warming is The Greatest Hoax, Scam and Disinformation Campaign in History

Global Warming Videos

Global Warming Books

Global Warming Sites

Al Gore: Agent of Influence or Useful Idiot of Disinformation

Al Gore: Agent of Influence and Planetary Propeller Head!

Al Gore’s Little White Lie: Man-Made Global Warming Causing Polar Bears To Drown

Al Gore’s Big Whopper–Sea Levels Rise By 2100: Gore 20 Feet vs IPCC 2 Feet?

Clinton’s Cap and Trade Tax on The American People for Consuming Electricity and Driving Cars, SUVs and Trucks!

Facing Fundamental Facts

Let Them Eat Cake Act: American Elites Killing and Starving The American People

The Heidelberg Appeal: Beware of False Gods and Prophets

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The Monopoly Men: The Federal Reserve Bank Cartel–Videos

Posted on May 8, 2009. Filed under: Blogroll, Economics, Employment, Investments, Links, Politics, Quotations, Rants, Raves, Regulations, Resources, Strategy, Taxes | Tags: , , , , , , , |

Monopoly Men Part 1

 

Monopoly Men Part 2

 

Monopoly Men Part 3

 

Monopoly Men Part 4

 

Monopoly Men Part 5

 

 Background Articles and Videos

 

The Founding of the Federal Reserve

 

Money, Banking and the Federal Reserve

 

How Abolishing the Fed Would Change Everything

 

How to Abolish the Federal Reserve

Who owns the Federal Reserve?

 

Barack obama and The Federal Reserve 1 of 5

 

Barack obama and The Federal Reserve 2 of 5

 

Barack obama and The Federal Reserve 3 of 5

 

Barack obama and The Federal Reserve 4 of 5

 

Barack obama and The Federal Reserve 5 of 5

 

What Has Government Done to Our Money? [Chapter 2]

 

Related Posts On Pronk Palisades

 

Creature from Jekyll Island: The Federal Reserve System–Videos

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Banking–Videos

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The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

Posted on April 24, 2009. Filed under: Blogroll, Communications, Computers, Economics, Employment, Investments, Law, Links, Politics, Quotations, Raves, Regulations, Resources, Talk Radio, Taxes, Video | Tags: , , , , , , , , |

  

mortgage_not_by_problem

Hundreds Swept Up in Mortgage Fraud Arrest

 

FBI Mortgage Fraud Crackdown 

 

William K. Black Criticizes the Bailout Plan — Might Destroy the Obama Presidency

 

“Stress tests Total Sham” William K. Black on Fox Business


 

Moyers 1 of 3: Sharing the Blame for the Economic Crisis?

 

Moyers 2 of 3: Sharing the Blame for the Economic Crisis?

 

Moyers 3 of 3: Sharing the Blame for the Economic Crisis?

 

William Black on Alex Jones Tv 1/5:Former Federal Regulator Tells All !!

 

William Black on Alex Jones Tv 2/5:Former Federal Regulator Tells All !!

 

William Black on Alex Jones Tv 3/5:Former Federal Regulator Tells All !!

 

William Black on Alex Jones Tv 4/5:Former Federal Regulator Tells All !!

 

William Black on Alex Jones Tv 5/5:Former Federal Regulator Tells All !!

FDIC may borrow money from Treasury.

Wells Fargo Chairman “Dick” Kovacevich Explains “What the Hell Happened” – Part 1

 

The Federal Government should put all failed and insolvent banks and financial institutions into FDIC receivership.

The Federal Bureau of Investigation (FBI) should be tasked to investigate massive mortgage fraud and the Department of Justice prosecute  those committing crimes.

All bailouts should cease and banks wanting to return TARP money should be allowed to do so.

Instead President Obama’s administration and Treasury Secretary refuse to take decisive action in shutting down these insolvent banks now.

 

Join the Second American Revolution

 

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People 

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

 

Please Spread The Message of Liberty

 

Geithner Delivers Opening Statements – Bloomberg

 

 

Background Articles and Videos

 

 

Receivership Management Program

“…When an insured institution fails, the FDIC is ordinarily appointed as receiver. In that capacity, it assumes responsibility for efficiently recovering the maximum amount possible from the disposition of the receivership’s assets and the pursuit of the receivership’s claims. Funds collected from the sale of assets and the disposition of valid claims are distributed to the receivership’s creditors in accordance with the priorities set by law.

The FDIC seeks to terminate receiverships in an orderly and expeditious manner. Once the FDIC has completed the disposition of the receivership’s assets and has resolved all obligations, claims, and other legal impediments, the receivership is terminated, and a final distribution is made to its creditors. Receivership creditors may include secured creditors, unsecured creditors (including general trade creditors), subordinate debt holders, shareholders of the institution, uninsured depositors, and the DIF (as subrogee). The FDIC is often the largest creditor of the receivership. 

In addition, the FDIC works closely with other regulators and with the industry to stay abreast of capital markets and financial markets developments to be prepared for potential resolutions involving complex financial instruments. Further, with growing globalization, international outsourcing, and the interconnections of financial markets, the FDIC enters into international agreements, through cross border memoranda of understanding, to facilitate closer cooperation with key foreign authorities on the analysis of emerging issues, improved understanding of national legal and policy structures, and contingency planning for potential resolutions. …”

 

 

William K. Black

“William Kurt Black is an American lawyer, academic, author, and a former bank regulator.[1]His expertise is on white-collar crime, public finance, regulation, and other topics in law and economics. He developed the concept of “control fraud”, in which a business or national executive uses the entity he or she controls as a “weapon” to commit fraud.

He is currently an Associate Professor of Economics and Law at the University of Missouri-Kansas City School of Law. He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He previously taught at the LBJ School of Public Affairs at the University of Texas, and at Santa Clara University. He was litigation director for the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and the General Counsel of the Federal Home Loan Bank of San Francisco.[2]

Transcript of April 3, 2009 Bill Moyers Journal

“…WILLIAM K. BLACK: In the Savings and Loan debacle, we developed excellent ways for dealing with the frauds, and for dealing with the failed institutions. And for 15 years after the Savings and Loan crisis, didn’t matter which party was in power, the U.S. Treasury Secretary would fly over to Tokyo and tell the Japanese, “You ought to do things the way we did in the Savings and Loan crisis, because it worked really well. Instead you’re covering up the bank losses, because you know, you say you need confidence. And so, we have to lie to the people to create confidence. And it doesn’t work. You will cause your recession to continue and continue.” And the Japanese call it the lost decade. That was the result. So, now we get in trouble, and what do we do? We adopt the Japanese approach of lying about the assets. And you know what? It’s working just as well as it did in Japan. 

 

 

 

 

BILL MOYERS: Yeah. Are you saying that Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong?

 

WILLIAM K. BLACK: Absolutely. 

 

BILL MOYERS: You are.
WILLIAM K. BLACK: Absolutely, because they are scared to death. All right? They’re scared to death of a collapse. They’re afraid that if they admit the truth, that many of the large banks are insolvent. They think Americans are a bunch of cowards, and that we’ll run screaming to the exits. And we won’t rely on deposit insurance. And, by the way, you can rely on deposit insurance. And it’s foolishness. All right? Now, it may be worse than that. You can impute more cynical motives. But I think they are sincerely just panicked about, “We just can’t let the big banks fail.” That’s wrong. …” 

 

 

 

The Two Documents Everyone Should Read to Better Understand the Crisis

By William K.  Black

“…As a white-collar criminologist and former financial regulator much of my research studies what causes financial markets to become profoundly dysfunctional. The FBI has been warning of an “epidemic” of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds.1 When the person that controls a seemingly legitimate business or government agency uses it as a “weapon” to defraud we categorize it as a “control fraud” (“The Organization as ‘Weapon’ in White Collar Crime.” Wheeler & Rothman 1982; The Best Way to Rob a Bank is to Own One. Black 2005). Financial control frauds’ “weapon of choice” is accounting. Control frauds cause greater financial losses than all other forms of property crime — combined. Control fraud epidemics can arise when financial deregulation and desupervision and perverse compensation systems create a “criminogenic environment” (Big Money Crime. Calavita, Pontell & Tillman 1997.)

The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence. To understand the crisis we have to focus on how the mortgage fraud epidemic produced widespread accounting fraud. …”

“…The widespread claim that nonprime loan originators that sold their loans caused the crisis because they “had no skin in the game” ignores the fundamental causes. The ultra sophisticated buyers knew the originators had no skin in the game. Neoclassical economics and finance predicts that because they know that the nonprime originators have perverse incentives to sell them toxic loans they will take particular care in their due diligence to detect and block any such sales. They assuredly would never buy assets that the trade openly labeled as fraudulent, after receiving FBI warnings of a fraud epidemic, without the taking exceptional due diligence precautions. The rating agencies’ concerns for their reputations would make them even more cautious. Real markets, however, became perverse — “due diligence” and “private market discipline” became oxymoronic. These two documents are enough to begin to understand:

  • the FBI accurately described mortgage fraud as “epidemic” 
  • nonprime lenders are overwhelmingly responsible for the epidemic  
  • the fraud was so endemic that it would have been easy to spot if anyone looked  
  • the lenders, the banks that created nonprime derivatives, the rating agencies, and the buyers all operated on a “don’t ask; don’t tell” policy  
  • willful blindness was essential to originate, sell, pool and resell the loans  
  • willful blindness was the pretext for not posting loss reserves  
  • both forms of blindness made high (fictional) profits certain when the bubble was expanding rapidly and massive (real) losses certain when it collapsed  
  • the worse the nonprime loan quality the higher the fees and interest rates, and the faster the growth in nonprime lending and pooling the greater the immediate fictional profits and (eventual) real losses  
  • the greater the destruction of wealth, the greater the (fictional) profits, bonuses, and stock appreciation  
  • many of the big banks are deeply insolvent due to severe credit losses  
  • those big banks and Treasury don’t know how insolvent they are because they didn’t even have the loan files  
  • a “stress test” can’t remedy the banks’ problem — they do not have the loan files  …”

http://www.huffingtonpost.com/william-k-black/the-two-documents-everyon_b_169813.html

 

The Death of Democratic Capitalism?
Will a state-directed economy really produce strong growth?

By Larry Kudlow

“…The issue at hand is the possible conversion of the TARP money now held by banks in the form of non-voting preferred stock into common stock with full voting rights. White House and Treasury officials have spoken of this possibility in recent days, and it plainly raises the issue of government ownership and backdoor nationalization of the banks — or at least the major banks.

To wit, Goldman Sachs and JPMorgan look to be recovering their health. They want to de-TARP, and perhaps Geithner will let them. But if he doesn’t, these institutions might be forced to convert their preferred TARP shares into common stock, thereby giving Team Obama tremendous sway over their operations. As for the less-healthy big banks, one suspects the government will increase its 36 percent ownership in Citigroup and take a new ownership position in Bank of America.

 

The results of the government’s economic “stress tests” — due early next month — will complicate these calculations. And at the end of the day I think Team Obama will interpret the stress tests in whatever manner serves its larger purpose, which I suspect is backdoor nationalization.

 

 

 

Just to confuse matters more, the congressional strings attached to TARP might apply not only to the banks, but also to participants in TALF and PPIP — the new government-lending programs designed to detoxify bank balance sheets. I don’t know this is the case, but it could well be the case.
This is why most private investors have stayed away from the two early TALF auctions. And JPMorgan CEO Jamie Dimon says his bank won’t play in PPIP because “we’ve learned our lesson.” He calls TARP a “scarlet letter.” But what he’s really saying as America’s leading banker is that he doesn’t want his bank or shareholders to be run by the government. …”
 
 
 

 

 

 

 

 

The AIG Outrage
The government shouldn’t run anything, because it cannot run anything.

By Larry Kudlow

 

“…In a column last week I suggested that not one more dime of government money is necessary for the banks. Instead, the marriage of the cash-flow valuation of bank assets and the upward-sloping Treasury yield curve will do the trick. Net interest margins are rising as banks purchase money for near-zero interest and loan it out at profitable rates. And the new mark-to-market reform will allow banks to hold their toxic assets for several more years and work them out — just as they did back in the 1990s.

We don’t need more TARP. We don’t need to take over more big banks. And we don’t need to have the government run things it simply isn’t capable of running.” 

 

 

PETER SCHIFF The Crisis Just Begun

 

Rogers Says Geithner Caused Crisis Must Let Banks Fail Feb 11 2009

 

George Soros The System has Broken Down Part 1 of 2

http://www.youtube.com/watch?v=0CejcQxCoXQ&feature=channel_page

 

Will Credit Defaul Swaps Worsen Our Financial Problems? Pt1

 

Will Credit Defaul Swaps Worsen Our Financial Problems? Pt2

 

The Real Estate and Credit Meltdown: How Did We Get Here and Where Do We Go?

 

 

Recap – Geithner Testimony – Bloomberg

 

 

 
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President Barack Obama Peddling The Government Dependency Package (GDP) and Fear Mongering The Raw Deal!

Pelosi’s Porky Pigout Poison Package–Economy Wrecker and Job Destroyer–Have A Blue Christmas 2009! 

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

Boycott Bailedout Businesses and Banks

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The Three Amigos: Jim Rogers, Yaron Brook, and Ron Paul To President Obama–You Are Wrong Economically and Morally!

Posted on March 28, 2009. Filed under: Blogroll, Economics, Education, Employment, Energy, Investments, Links, Politics, Quotations, Video | Tags: , , , , , , , , , , , |

three_amigos

Three Amigos

First, some Rogers rants and raves to get your attention:

Jim Rogers Geithner does not know what he is doing …

Jim Rogers welcome to the economic meltdown

Jim Rogers on CNBC: ABOLISH THE FEDERAL RESERVE!

Jim Rogers Discusses China 3-24-09

Could not have said it better myself.

Looks like Rogers is pissing on Soros’ socialist  economy wreckers and job destroyers.

How do  you spell relief?

Keep telling it like it is Jim!

Second, to calm us down and start thinking.

Yaron gives us the capitalist view:

 

Yaron Brook’s Call to Action – March 2009 (Part 1 of 2)

Yaron Brook’s Call to Action – March 2009 (Part 2 of 2)

The Morality of Capitalism Part 1 of 7

The Morality of Capitalism Part 2 of 7

The Morality of Capitalism Part 3 of 7

The Morality of Capitalism Part 4 of 7

The Morality of Capitalism Part 5 of 7

The Morality of Capitalism Part 6 of 7

The Morality of Capitalism Part 7 of 7

Reasons to be Optimistic about Ayn Rand’s Influence on American Culture

Yaron Brook 27 march 2009

Interview with Yaron Brook
http://www.youtube.com/watch?v=GIoP7V6U-aQ&NR=1

 

Ron also would like to end the Federal Reserve, but let us audit it as a first step.

Ron Paul HR 1207

 

Ron Paul on Washington Watch – Audit the Federal Reserve HR 1207 03-03-09 1 of 2

 

Ron Paul on Washington Watch – Audit the Federal Reserve HR 1207 03-03-09 2 of 2

 

Ben Bernanke RefusesTransparency – TAKE ACTION NOW!

Rep. Manzullo Discusses Radical Treasury Plan on the Glenn Beck Show

 

Background Articles and Videos

 Three Amigos

“…Three Amigos! is a 1986 comedy western film, produced by George Folsey, Jr. and Lorne Michaels. John Landis directed. Steve Martin, Chevy Chase, and Martin Short star. The movie was written by Steve Martin, Lorne Michaels, and Randy Newman. Randy Newman contributed three original songs: “The Ballad of the Three Amigos”, “My Little Buttercup” and “Blue Shadows”, while the musical score was composed by Elmer Bernstein. It was shot in Simi Valley, California, Coronado National Forest, Old Tucson Studios, and Hollywood. It was originally entitled The Three Caballeros and Steve Martin was to be teamed with Dan Aykroyd and John Belushi. This film is 79. on Bravo’s “100 Funniest Movies.”

In the year 1916, three prissy silent film actors are fired after they demand a higher salary for their popular “Three Amigos” western films. Later that day they receive a plea from the villagers of Santo Poco who have been under siege from the infamous villain El Guapo (“The Handsome Guy”). Mistaking the plea for an acting job, the actors steal their costumes and travel to Santo Poco. The villagers give the actors a hero’s welcome, believing them to be bona fide gunfighters. After a nearly fatal confrontation with El Guapo, the actors realize the danger to which they are now subject. They panic and plan a hasty retreat, leaving the villagers at the mercy of El Guapo. They soon return to the village and, upon seeing the devastation caused by the bandits, decide to step up and become the Three Amigos for real. …”

http://en.wikipedia.org/wiki/%C2%A1Three_Amigos

 

Obama’s online townhall: What’s really going on? Updated: Megalomania-palooza!

By Michelle Malkin  •  March 26, 2009 10:35 AM

“…Scroll down for updates…

At 11:30am Eastern, President Obama will conduct an “online townhall” on the economy.

At this moment, the White House website reports that “92,889 people have submitted 104,079 questions and cast 3,608,538 votes.”

In order to ask a question, you must register your name, e-mail, and zip code. …”

http://michellemalkin.com/2009/03/26/obamas-online-townhall-whats-really-going-on/

 

Leave the lights on: Celebrate Human Achievement Hour

By Michelle Malkin  

I mentioned earlier this week that my friends at CEI are leading a counter-movement today to answer the enviro-nitwits’ “Earth Hour” with Human Achievement Hour.

Leave the lights on between 8:30pm and 9:30pm and watch this video with your friends and family! …”

http://michellemalkin.com/2009/03/28/leave-the-lights-on-celebrate-human-achievement-hour/

Celebrate Human Achievement Hour

By Michelle Malkin 

“…This weekend, enviro-zealots will celebrate “Earth Hour” by turning off their lights. They’ve pulled this stunt for a few years now. But this time, they’ve added a new twist: “This year, Earth Hour has been transformed into the world’s first global election, between Earth and global warming. For the first time in history, people of all ages, nationalities, race and background have the opportunity to use their light switch as their vote – Switching off your lights is a vote for Earth, or leaving them on is a vote for global warming.”

How about voting for human achievement? Michelle Minton at the Competitive Enterprise Institute has a good proposal: …”

http://michellemalkin.com/2009/03/24/celebrate-human-achievement-hour/

 

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