Friday, September 4, 2009
Tuesday, September 1, 2009 FROM FFF.ORG A Need for Some Soul-Searching by Jacob G. Hornberger Close your eyes, let your mind roam, and imagine the following: You are living in a country where the government has the power to round up whomever it wants, incarcerate them for as long it is wants, deny them due process and a trial, and torture them. The government is attacking and occupying other countries. It is confiscating everyone’s income and wealth and doling it out to others. The government is jailing people on a myriad of economic crimes and tax violations. Now, open your eyes. Welcome to reality. This is the America in which we now live. It is a country whose government is torturing people with impunity and is even proud of it. It is a government that has the power to actually ignore the Bill of Rights by simply labeling people terrorists. It is a country in which vast numbers of people are living off money that the IRS confiscates from others and fighting vociferously for their right to do so, no matter how much damage they are inflicting on the victims. It is country whose government is occupying two foreign countries and has military bases in more than 100 others. It is a country whose government is punishing people for economic crimes and tax crimes. What a mess this country is in. On the domestic side, you have the liberals, with their deeply engrained socialist philosophy, whose programs forcibly take money from Peter and give it to Paul, magically converting everyone into caring and compassionate saints. Never mind that they’re bankrupting America with their ever-soaring spending, taxes, and debt. On the foreign side, you have the conservatives, with their deeply engrained imperialist philosophy, whose programs entail militarism, invasions, occupations, torture, kangaroo tribunals, and destruction of civil liberties. Never mind that they’re too bankrupting America with ever-soaring spending, taxes, and debts. And then you have those multitudes of liberals and conservatives who favor both socialism and imperialism. But even those two isms are not the major threat that faces our nation. Instead, the biggest threat comes from within ourselves — the moral degeneracy that all this produces within us, a degeneracy that is reflected by increasing numbers of people who see nothing wrong with torture, political confiscation and redistribution of wealth, wars of aggression and occupations, destruction of civil liberties, and the prosecution and punishment of people committing economic crimes and tax violations. Clearly America is in desperate need of a reexamination of what this nation has become and how far it has strayed from its founding principles, principles that once made America the marvel of the world. Those principles included no income tax, no Social Security, Medicare, Medicaid, bailouts, food stamps, farm subsides, and other welfare, no militarism, no wars of aggression and foreign occupations, no torture, and a deep and abiding respect for the Constitution and the Bill of Rights. But what is most needed at this point of our existence is some mighty deep soul-searching. Is this what we as a people are all about? Rather than look to themselves and to their Creator to help them get through the difficulties of life, as our American ancestors did, modern-day Americans have chosen to render unto Caesar their lives, fortunes, and well-being, the very things that should be rendered to God. And Americans are now reaping the whirlwind, as reflected by the crises, chaos, and disharmony in our daily lives. The political and economic solution to America’s woes lies in abandoning socialism and imperialism and restoring a free-market, limited-government republic to our land. More fundamentally, however, the solution involves a restoration within the American people of faith in themselves, in others, in freedom, and in God. Jacob Hornberger is founder and president of The Future of Freedom Foundation.
Thursday, September 3, 2009
Giving you gold price objectives has not proved in the past to be in your best interest as we are read by both sides of the gold market spectrum. However, one time ONLY, here they are: - $1000. Three tries and success. This is the third try. - $1024 - $1089 - $1156 - $1225 - $1296 - $1369 - $1444 - $1521 - $1600 - $1681 Then on to Alf’s numbers. (GT sez: These numbers are big: like $3000, $5000, $10,000 for the gold price. But it's impractical to put a time frame on them because by then, then economy will be in a state of revolution. Those kinds of numbers would represent the almost total hyper inflationary destruction of paper currency in dollars where you would be running for your life with gold coins on your person to a safer location where you would be less likely to be robbed, killed and stripped of the gold in your teeth by ravenous, starving mobs of the idiots left on earth.) Notice that Sinclair's numbers increase by approximately $75 dollars each level. They are very accurate, but not infallible numbers and only guides to where gold will run to each cycle as it moves higher in the next few months, NOT YEARS as many would like to think. TIME HAS RUN OUT FOR THE UNITED STATES CURRENCY AND ITS GOVERNMENT AND WAY OF LIFE. We will all soon be the largest group of beggars on the planet. PREPARE FOR IT!
Tuesday, September 1, 2009
Gary North's REALITY CHECK Gold's price: http://www.GaryNorth.com/snip/300.htm The Federal debt: http://www.GaryNorth.com/snip/544.htm To subscribe to this letter: http://www.snipurl.com/subscribenow Issue 887 August 28, 2009 THE FED ON THE DEFENSIVE I do not recall this in my lifetime. A majority in the House of Representatives has co-signed H.R. 1207, a bill introduced by Ron Paul to have the Federal Reserve System audited by an independent government agency, the Comptroller General's office. The bill has been bottled up in committee by Barney Frank, who has insisted that he is doing this in order to better coordinate consideration of the best way to gain greater transparency from the Federal Reserve. He has not said that he favors an independent audit of the FED. http://tinyurl.com/m2ua83 It would be easy for Congressman Frank to hold hearings on the bill. This would allow Dr. Paul to bring in expert witnesses on the FED to make the case for an independent audit. It would get a lot of YouTube play. It would be the first time since the replacement of eccentric Congressman Wright Patman in 1975 as the chairman of the House Banking Committee that the FED has been exposed to anything like serious criticism in Congress. (Patman, an inflationist and a greenbacker, hated the FED. He was chairman of the House Banking Committee, 1965-75.) Congressman Frank has yet to announce hearings. There was a posting on the DailyPaul site that Frank will hold hearings soon. Someone heard it on the radio. I will believe it when I see the YouTube videos. The FED in June hired a public relations expert, Linda Robinson, to deal with Congress. She was formerly a lobbyist for Enron. (http://tinyurl.com/mu64d7) I have little doubt that it was H.R. 1207 that forced the FED into this move. Now Ron Paul's book, "End the Fed," is about to be published. It is expected to become a best-seller. Think about this. There have been books attacking the Federal Reserve System for over ninety years, but they have been written by obscure people who no one in the general public has heard of. They have not sold well. They have not been written by someone who persuaded over half of the House of Representatives to support a bill to audit the FED. They have not been written by someone who once raised over $30 million in a run for President. This is unprecedented. For the first time in the history of the Federal Reserve System, there are literally millions of people who have heard of the FED and who would like to see it shut down. There have been academic and investment critics of this or that policy of the FED, most notably Milton Friedman, who criticized the FED for not inflating enough, 1930-33. But there has never been a serious audience ready to listen to arguments on why a system of 12 private banks should oversee monetary policy, and why one of them, the New York Federal Reserve Bank, should execute this policy without having to answer to anyone. THE BLOOMBERG LAWSUIT The Bloomberg news service has sued the Board of Governors of the FED under the Freedom of Information Act. The lawsuit says that it is illegal for the Board of Governors to refuse to release information on which banks have received financial aid from the FED. The Board of Governors countered with this argument. The New York FED is a privately owned entity. It executes monetary policy. It is not subject to the Freedom of Information Act. The FED also argued that the banking system would be threatened by the release of this information. This case went to court. The judge ruled on August 24 that the Board of Governors of the FED must make this information public no later than August 31. On August 26, the FED asked the judge not to enforce her ruling. Why not? Because it would be bad for the banking system. She had heard that argument before. Well, what else? The Board of Governors' lawyer insisted that the Board has no knowledge of what the New York FED -- its legal agent -- really does. The lawyer said, "We don't control the system of record-keeping in New York." She insisted that the Board of Governors just cannot find out what the New York FED did with the money in time to meet the deadline. Apparently, the Board of Governors, a government agency, has taken seriously Jesus' words regarding charity (alms): But when thou doest alms, let not thy left hand know what thy right hand doeth: That thine alms may be in secret: and thy Father which seeth in secret himself shall reward thee openly (Matthew 6:3-4). The two FEDS, the government one and the private one, were surely involved in the charity business, to the tune of a trillion dollars or so. This was a system of handouts on an unprecedented scale. The Father in Washington has surely rewarded the FED in the past. The FED expects more of the same in the future. But now this pesky lawsuit forces an opening of the books. Is the lawyer's argument credible? Perhaps the judge will not regard it as credible. So, the FED had another argument. The FED wants to her to wait until the case can be heard on appeal. But there was a hitch. The FED did not say when it intends to appeal. http://tinyurl.com/mq5hkh Here is the FED, with a court ruling against it, and with the clock ticking, admitting that it has no date set to file an appeal. Its lawyers apparently had no fall-back position. Is this credible? Of course not. Will it work? We shall see. If it does work, and if H. R. 1207 remains bottled up in committee, the growing army of people who have finally found out about the FED will have two more pieces of evidence that the U.S. government does not run the FED. If the bill passes the House and the Senate, Obama will veto it. The FED is not going to be audited by the government. That is not how the world works. The FED is only officially under government authority. Except in wartime, it has never been under government authority. It was set up to provide the illusion of government control. That illusion has worked since 1913. The FED does face a major problem. If it escapes from both the Congress and the courts, this will sell lots more copies of "End the Fed." On the other hand, if the court system finally forces the FED to reveal who got what and on what terms, then banks in the future will hesitate to go to the FED, hat in hand, because the public learn who was begging for a bailout. This is not the sort of information that big bank bankers want the financial press to discover, let alone the Internet. The handouts went to the big banks. Most banks were ignored. They were allowed to sink or swim. This has created a problem: bank bankruptcies every weekend for as far as the eye can see. 416 PROBLEM BANKS The Federal Deposit Insurance Corporation, flush with a $30 billion loan from Congress, has announced that its list of problem banks climbed in one month from 305 to 416. The list is secret, of course, for the same reason that the New York FED's list is secret. The FDIC does not want to cause a run on any of the 416 banks. A bank run these days takes the form of wire transfers and checks written to other banks to open an account. The money supply remains constant. Some banks lose; others win. The bad banks go bust. The FDIC then has to buy up all of their bad assets. Solvent banks then buy the good assets. The big winners are the solvent banks that buy their rivals' assets at fire-sale prices. The big losers are taxpayers and investors who believe that all of the Treasury debt that Congress must sell to cover its loan to the FDIC will be repaid in real money some day. On August 27, the FDIC announced that its member institutions lost $3.7 billion in the second quarter of 2009. In a press release that was reminiscent of "Spin City," the head of the FDIC, Sheila Bair, announced: "While challenges remain, evidence is building that the U.S. economy is starting to grow again," said FDIC Chairman Sheila Bair. "Banking industry performance is -- as always -- a lagging indicator. The banking industry, too, can look forward to better times ahead. But, for now, the difficult and necessary process of recognizing loan losses and cleaning up balance sheets continues to be reflected in the industry's bottom line." Translation: "The economy is better off than the banks are, and the economy remains in the pits. Why? Because banks are not lending. Someday, things will turn around for the banking system as a whole, but don't get your hopes up. Cleaning up bank balance sheets these days is comparable to cleaning up the Augean stables, for all you classics buffs out there." Chairman Bair went on to say, "The FDIC was created specifically for times such as these. No matter how challenging the environment, the FDIC has ample resources to continue protecting depositors as we have for the last 75 years. No insured depositor has ever lost a penny of insured deposits...and no one ever will." Translation: "Congress may have to fork over another couple of hundred bullion -- maybe $500 billion, if Senator Dodd's bill is signed into law -- but no one will ever lose a penny in an FDIC-insured bank. But taxpayers will pay a pretty penny to whoever buys all those T-bills that Congress will have to issue to keep the FDIC solvent." The press release reported the following. 1. Total assets of insured institutions declined by $238 billion. 2. The number of institutions on the FDIC's "Problem List" rose. At the end of June, there were 416 insured institutions on the "Problem List," up from 305 on March 31. 3. Total reserves of the Deposit Insurance Fund (DIF) stood at $42 billion. [No mention of the $30 billion loan from Congress to get reserves back up.] http://tinyurl.com/l3n8aa How bad is this number: 416 problem banks? Not as bad as 1882 problem banks. That is the estimate of Institutional Risk Analytics, a private research firm. The organization gave a grade of F to 1882 banks, as of June 30. This figure was up by 16.5% since late March. What about the number of A-rated banks? The number was down by 21% since late March. This list does not include the 19 big banks that went through the stress tests, which all of them passed. The stress tests assumed that big banks would have enough capital to withstand a 9% loss rate over the next two years. The problem is, according to the company's managing director, that we are already at 9% loss rates, and we are not yet at the bottom of the cycle. If the economy does not recover by the 4th quarter, banking statistics will head down in 2010. (http://tinyurl.com/nr2z67) The Federal Reserve System intervened to save the financial system in 2008. But has the system as a whole recovered? No. Has unemployment stopped rising? No. Has the economy recovered? No. GROWING HOSTILITY TO THE FED Always in the past, the Federal Reserve has remained free from serious criticism. The media are obedient lap dogs. So are the academic economists. The textbooks never point out that the FED is the enforcing arm of a huge cartel. The professors refrain from applying to the FED their analyses in their chapters on cartels. Today, for the first time, there is a growing audience of intelligent people who are being exposed to the truth about the FED. This has taken place outside Establishment channels, which includes the largest talk radio shows. The FED has had a 90-year free ride. That ride is over. The FED will never again get off scott-free. The Web is sufficient to continue to inform people regarding the economic disasters that the FED has caused by its anti- recession, big bank bailout policies. Bernanke is pursuing the same low-interest rate policy that Greenspan pursued from mid-2000 to mid-2004. A few mainstream critics of Greenspan now say that his policy failed. But they refuse to say that Bernanke's policy is the same, and that the resulting crises will be worse. The critics do not see the operations of the FED in terms of a consistent theory of monetary cause and effect. They view monetary policy as somehow based on personality of the Chairman. Before, Greenspan was "the Maestro." Bernanke is "the Professor." The policies are the same: pump and dump. The FED pumps up the money supply, and the Treasury dumps T-bills and T-bonds on the FED. The FED has promised to unwind its doubled monetary base (balance sheet) when the economy revives. In recent months, it has sold off some debt. The monetary base is down from its peak. The Treasury has been able to sell its debt to investors who still dear the economy. This cannot go on for more than a year unless the economy stays in recession. The size of the deficits will be too great. The FED really is trapped unless the economy revives, commercial bank credit to private industry revives, and price inflation remains low. But a revival of commercial bank lending will turn the FED's monetary base into spendable money. The M1 money supply will double. The M1 money multiplier will go positive. At that point, the FED will have to unwind, meaning sell off assets. To whom? At what interest rate? It will be in competition with both the Treasury and Fannie/Freddie. CONCLUSION The FED has never had to play defense. It has had a free ride. The free ride is over. The general public has still not heard of the FED. The FED still has the advantage of invisibility. But it is losing that invisibility. This is not going to change. The FED is a legitimate target for people who think the government botches the economy. It is the classic example of the much-praised government-business alliance. It is the consummate model of that alliance. When it fails to achieve its twin official goals of low unemployment and low price inflation, millions of its economic victims will figure out who the culprit is. End the Fed.
Monday, August 31, 2009
August 31, 2009 Dear Friend of Liberty, Our grassroots Revolution has set its sights on restoring a sound monetary policy to our nation, and every day we are awakening more of our countrymen to the dangers of Federal Reserve secrecy and its stranglehold on our economy. A year ago, no one in the political establishment would have believed that a bill to thoroughly audit the Fed would have almost two-thirds of the House (including every Republican representative and nearly one hundred Democrats) and a quarter of the Senate on board. Certainly, no one would have bet that three-fourths of the American people would support such an audit. As many of you may have heard by now, recent statements from Representative Barney Frank, chairman of the House Financial Services Committee, have indicated that the House will vote on Audit the Fed in the next few months. However, rather than voting on HR 1207 as a standalone bill, many in Congress hope to roll it into the comprehensive regulatory reform package recently proposed by the White House. This reform package grants new, more comprehensive powers to the Fed and strengthens the government's control over our economy. C4L and other friends of liberty stand in opposition to this proposal, as well as any other attempt to convert this historic movement for transparency into yet another rubber-stamping of politics as usual. It is imperative that Audit the Fed come before the House and Senate on its own merits. The American people stand behind a thorough audit of the Fed, and we should not be adding additional powers when we don't fully know what is being done with the ones they currently have. Call Speaker Nancy Pelosi's office today at (202) 225-0100 and urge her to stand with the American people by giving the Audit the Fed bill full debate and a standalone vote on the House floor. contact your representatives and senators and ask them to get behind Audit the Fed if they have not yet done so. If they have already cosponsored, tell them to push for a roll call vote on HR 1207 and S 604 on the bills' own merits.
FORWARDED TO ME BY GOLDMELTER PLEASE EVERYONE , PASS THIS TO EVERYONE---- AND CONTACT YOUR REP/ OR SENATOR... OBAMA AND HIS PEOPLE DO FEAR AMERICANS.. THATS WHY THEY WANT YOU DISARMED Please read below and take action with your representatives. Senate Bill SB-2099 will require us to put on our 2009 1040 federal tax form all guns that you have or own. It may require fingerprints and a tax of $50 per gun. This bill was introduced on Feb.. 24. This bill will become public knowledge 30 days after it is voted into law. This is an amendment to the Internal Revenue Act of 1986. This means that the Finance Committee can pass this without the Senate voting on it at all. The full text of the proposed amendment is on the U.S. Senate homepage,http://www.senate.gov/ You can find the bill by doing a search by the bill number, SB-2099. You know who to call; I strongly suggest you do. Please send a copy of this e-mail to every gun owner you know. http://www.opencongress.org/bill/111-h45/text Congress is now starting on the firearms confiscation bill. If it passes, gun owners will become criminals if you don't fully comply. It has started. Very Important for you to be aware of a new bill HR 45 introduced into the House. This is the Blair Holt Firearm Licensing & Record of Sale Act of 2009. Even gun shop owners didn't know about this because the government is trying to fly it under the radar. To find out about this - go to any government website and type in HR 45 or Google HR 45 Blair Holt Firearm Licensing & Record of Sales Act of 2009. You will get all the information. Basically this would make it illegal to own a firearm - any rifle with a clip or ANY pistol unless: It is registered -You are fingerprinted -You supply a current Driver's License -You supply your Social Security # -You will submit to a physical & mental evaluation at any time of their choosing -Each update - change or ownership through private or public sale must be reported and costs $25 - Failure to do so you automatically lose the right to own a firearm and are subject up to a year in jail. -There is a child provision clause on page 16 section 305 stating a child-access provision. Gun must be locked and inaccessible to any child under 18. -They would have the right to come and inspect that you are storing your gun safely away from accessibility to children and fine is punishable for up to 5 yrs. in prison. If you think this is a joke - go to the website and take your pick of many options to read this. It is long and lengthy. But, more and more people are becoming aware of this. Pass the word along. Any hunters in your family pass this along. This is just a "termite" approach to complete confiscation of guns and disarming of our society to the point we have no defense - chip away a little here and there until the goal is accomplished before anyone realizes it. This is one to act on whether you own a gun or not. http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.45: http://www.opencongress.org/bill/111-h45/show http://www.govtrack.us/congress/bill.xpd?bill=h111-45 Please.. copy and send this out to EVERYONE in the USA , whether you support the Right to Bear Arms or are for gun control. We all should have the right to choose.
This was sent to me by a friend in Bozeman , MT who was there. Hello All, By now you have probably heard that President Obama came to Montana last Friday. However, there are many things that the major news has not covered. I feel that since Bill and I live here and we were at the airport on Friday I should share some facts with you. Whatever you decide to do with the information is up to you. If you chose to share this email with others I do ask that you DELETE my email address before you forward this on. On Wednesday, August 5th it was announced locally that the President would be coming here. There are many groups here that are against his healthcare and huge spending so those groups began talking and deciding on what they were going to do. The White House would not release ANY details other than the date. On about Tuesday Bill found out that they would be holding the "Town Hall" at the airport. (This is only because Bill knows EVERYONE at the airport) Our airport is actually located outside of Belgrade (tiny town) in a very remote location. Nothing is around there. They chose to use a hangar that is the most remotely located hangar. You could not pick a more remote location, and you can not get to it easily. It is totally secluded from the public. FYI: We have many areas in Belgrade and Bozeman which could have held a large amount of folks with sufficient parking. (gymnasiums/auditoriums). All of which have chairs and tables, and would not have to be SHIPPED IN!! $$$$$ During the week, cargo by the TONS was being shipped in constantly. Airport employees could not believe how it just kept coming. Though it was our President coming several expressed how excessive it was, especially during a recession. $$$$$ Late Tuesday/early Wednesday the 12th, they said that tickets would be handed out on Thursday 9am at two locations and the president would be arriving around 12:30 Friday. Thursday morning about 600 tickets were passed out. However, 1500 were printed at a Local printing shop per White=2 0House request. Hmmmm......900 tickets just DISAPPEARED. This same morning someone called into the radio from the local UPS branch and said that THOUSANDS of Dollars of Lobster were shipped in for Obama. Montana has some of the best beef in the nation!!! And it would have been really wonderful to help out the local economy. Anyone heard of the Recession?? Just think...with all of the traveling the White House is doing. $$$$$ One can only imagine what else we are paying for. On Friday Bill and I got out to the airport about 10:45am. The groups that wanted to protest Obama's spending and healthcare had gotten a permit to protest and that area was roped off. But that was not to be. A large bus carrying SEIU (Service Employees International Union) members drove up onto the area (illegal)and unloaded right there. It was quite a commotion and there were specifically 2 SEIU men trying to make trouble and start a fight. Police did get involved and arrested the one man but they said they did not have the manpower to remove the SEIU crowd. The SEIU crowd was very organized and young. About 99% were under the age of 30 and they were not locals! They had bullhorns and PROFESSIONALLY made signs. Some even wore preprinted T-shirts. Oh, and Planned Parenthood folks were with them.....professing abortion rights with their T-shirts and preprinted signs. (BTW, all these folks did have a permit to protest in ANOTHER area) Those against healthcare/spending moved away from the SEIU crowd to avoid confrontation. They were orderly and respectful. Even though SEIU kept coming over and walking through, continuing to be very intimidating and aggressive at the direction of the one SEIU man. So we had Montana folks from ALL OVER the state with their homemade signs and their DOGS with homemade signs. We had cowboys, nurses, doctors you name it. There was even a guy from Texas who had been driving through. He found out about the occasion, went to the store, made a sign, and came to protest. If you are wondering about the press.....Well, all of the major networks were over by that remote hangar I mentioned. They were conveniently parked on the other side of the buildings FAR away. None of these crowds were even visible to them. I have my doubts that they knew anything about the crowds. We did have some local news media around us from this state and Idaho . Speaking of the local media...they were invited. However, all questions were to be turned into the White House in advance of the event. Wouldn't want anyone to have to think off the top of their head. It was very obvious that it was meant to be totally controlled by the White House. Everything was orchestrated down to the last detail to make it appear that Montana is just crazy for Obama and government healthcare. Even those people that talked about their insurance woes........the White House called our local HRDC (Human Resource and Development Committee) and asked for names. Then the White House asked those folks to come. Smoke and mirrors...EVERYTHING was staged!!!!!!!!!!! I am very dismayed about what I learned about our current White House. The amount of control and manipulation was unbelievable. I felt I was not living in the United States of America , more like the USSR !! I was physically nauseous. Bill and I have been around when Presidents or Heads of State visit. It has NEVER been like this. I am truly very frightened for our country. America needs your prayers and your voices. If you care about our country please get involved. Know the issues. And let Congress hear your voices again and again!! If they are willing to put forth so much effort to BULLY a small town one can only imagine what is going on in Washington DC . Scary!! Kathy Bozeman , Montana
Sunday, August 30, 2009