Politics as Usual — or Is It Revolution?

Here in Colorado, it’s especially difficult to escape the vitriol and mudslinging of Campaign 2010. The closely watched Senatorial race between Democrat Michael Bennett and Republican Ken Buck has attracted a torrent of out-of-state money, and it sometimes seems as though all of it, a reported $750,000 a day, is being used to finance the attack ads that have come to dominate the local airwaves. Elsewhere in the country, it’s the same unpretty story — no doubt in part because Democratic candidates would rather not talk about, much less defend, President Obama’s heavy-handed initiatives. Thus, in the last few days alone do we find one Republican smeared with the charge of rape, and another, Rand Paul, accused of having tied up a woman 30 years ago and commanding her to worship a false idol. If you’ve been following the news, you know we didn’t make this up. Even the President got into the slimy, suppurating spirit of things recently, accusing the U.S. Chamber of Commerce of taking foreign money to back right-leaning candidates.  But even the New York Times wasn’t buying it — nor, apparently, was anyone else — and it now appears the mainstream news media is simply going to let the issue die before their Anointed One makes even more of a fool of himself.

And yet, putting aside all of this toxic sludge, we find ourselves positively excited about the possibility there’s a revolution brewing and that actual political change could occur as a result of the election.  Yes, we know, it doesn’t much matter whether the country elects Republicans or Democrats — the long-term results will always be roughly the same.  But when we talk about revolution, it has less to do with changes in the political make-up of the House and Senate than with vastly larger changes taking shape in the hearts and minds of the electorate. For one, if conservative candidates romp, as seems likely, the mainstream news media (MSM) will have to face up to the reasons. Remember, it wasn’t long ago that they were soft-peddling Obama’s line that he simply had not communicated his ideas with sufficient clarity. And before that, they carried his water with the argument that many Americans were not ready to accept a black president. Baloney. Now they may have to acknowledge a simpler truth — that Obama’s ideas are repugnant to most voters.  Also likely to go down in flames is the untested notion that Tea Partiers are a bunch of right-wing racists.

‘Abolish the Fed’

If change is indeed in the air, one of the most intriguing possibilities we’ve heard so far is a plan from Gary North to do away with Federal Reserve. Although we’ve had our differences with Gary in the past on the issue of inflation vs. deflation, we have no problem deferring to him where the Fed is concerned.  He is an expert’s expert on the subject, and in arguing to abolish the central bank, his heart is in the right place.  Here is a link  to his essay, which is too detailed and subtly nuanced for us to do it justice here. Suffice it to say, North has come up with a brilliant incentive that could mobilize voters on the issue. His plan would require the Treasury to sell all of the gold held by the U.S. Government to its true owners, the American people, at a price of $42.22 an ounce.  Dare we suggest that, as the issue gathers steam and plays out in the press, voters might actually come to understand why it is in their best interest to dissolve the Federal Reserve System?  Actually, even now, more than a few Tea Party-ers undoubtedly realize that the Fed exists, as North puts it, to defend the interests of a cartel of large banks. Exactly how the central bank does this is obscured by myriad layers of deliberate obfuscation, including Fed-speak by Bernanke and his predecessors, but also and most crucially by a news media too stupid and lazy to investigate and present the facts.  Let the newsrooms beware: the lynch mob is just as angry with those who report the news as with those who make it.  If the news media continue to play dumb even as more and more voters come to understand and believe that the Fed does indeed steal from the poor to support the rich, revolution’s first fusillade in November is going to turn into cannon and mortar fire in the months and years ahead. 

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  • Larry October 24, 2010, 6:23 pm

    Also, the 80% of average American’s, their largest investment is their home. It is a win win situation, short term, to bring back confidence in the housing sector. What we do not need right now is “Hoover” type policies to further erode American confidence in the housing sector.

  • dave October 21, 2010, 11:58 pm

    It’s all so confusing isn’t it? I mean were Hank Paulson and Big Ben ‘controlling’ Wall Street or being controlled by it? Are they the government or are they the banks? Is Chris Dodd a Democratic in the pocket of Wall Street or demonic regulator stifling the free enterprise system? Is a Obama a socialist/marxist or an agent of the bourgeoisie (Wilkepedia: ‘social class characterized by their ownership of capital and their related culture’). ?
    Is Christine Odonnell a witch or is she just ‘you’? Why did deficit spending, bailouts, the prosecution of illegal and senseless wars, and structural unemployment suddenly seem to become demonic on or about January 20th of 2009? Is the Obama health care plan the evil deficit-busting, big-brother intrusion into the lives of ‘freedom-loving’ americans — who do, in theory, have every right to carry loaded weapons into bars — or is it the law that prevents the big bad insurance companies from deciding that my pre-existing condition of hemorrhoids disqualifies me for coverage for treatment of my colon cancer?

    Not sure what my point is, except this: anyone who thinks that the tea party movement is, in composition, any less corrupt or nutty than the merry band of clueless and compromised set of sitting demo-publicans we have now is, well, clueless. I do see the kernel of truth in some of their arguments; but investing any hope in a ‘throw the bums out’ paradigm is silly unless it implies an outcome other than ‘throwing the crazies in’.

    (My goodness, the lady managed, as Frank Rich put it, ‘to condemn the only pastime with more fans than baseball’ )

    &&&&&&

    A first for this forum, I believe: a quote from Frank Rich. RA

    • Larry October 24, 2010, 5:57 pm

      The Federal Government has a vested interest in a lower dollar short term. They(we) own 1.1 trillion dollar’s worth of Mortagage Backed Securities. Mr. Market now perceives a stronger dollar with a lower stock market and lower “Housing” prices. The Fed want’s a profit on their holding’s and a higher dollar will not achieve their goal

  • warren October 21, 2010, 11:38 pm

    About the Fed. Please read “The Creature from Jekyll Island” by G. Edward Griffin (1994)

  • Steve October 21, 2010, 6:12 pm

    Obama didn’t create the Fed. Heck, it wasn’t even Obama that bailed out the banks. That was Bush, remember? And just look at the backlash the Obama has gotten from his attempts to increase regulations of banks. And while congress tried to do an end around and sneak through legislation that would retroactively allow banks to foreclose on houses however they may choose, Obama vetoed it. And yes the ad on Rand Paul was ridiculous – he was a member of the NoZe Brotherhood and that alone makes him alright by me. But trying to explain the actions of the Brother hood to an outsider is an impossibility.

  • donniemac October 21, 2010, 1:32 pm

    The Dems are going to keep control of both houses of Congress. Like movements before it, the tea party movement will influence both the left and the right. We, the USA, will see some benefits but not at the level expected by many here. What will cause the the revolution that Rick is calling for will be a collapse of the world economic order that has been in place since WWII. China could very well cause that to happen. If the string pullers manage to get us through this economic crisis relatively unscathed, it will be several decades before we are in this shape. MHO, of course :).
    Back to my first statement, the election is lasting 3 weeks too long. Statements like O’Donnell’s about the first amendment’s clause that is the basis of church/state separation, Miller’s goons in Alaska, Angle’s inability to tell Asian kids from Mexican/American kids, social issue comments by other newbie Republican candidates will allow enough seats to stay in Democratic hands. And then the 2012 election will hinge completely on the economic issues. The revolution, as Rick puts i, if we are still in the crapper, and status quo if the string pullers have been successful.

  • Redou October 21, 2010, 4:14 am

    Jack Kennedy tried to do away with the FED and look what happened to him. I think it was Executive Order 1111 ( not sure about the number) just before he was
    executed. Don’t ever try to take the golden egg from
    the goose that lays it. Gary North should look out.

  • Buster October 20, 2010, 10:30 am

    The whore who you actually ponder about is more than just the banksters or the industrial military complex so often spoken of. It is a corporate-military/financial/religious organisation which has rode on the backs of the rulers of many countries, but now, specifically, seven leading nations. It is the seven which effectively allow this organistion to do it’s work, secretly.It is specifically the seven governements which give the whore the power she uses to enslave most of the people of the world through debt, ideological/religious ignorance and through wars…..not just today but through history.
    It is these seven nations which are to also finally take that power away.
    I suspect that we could be seeing the beginnings of the political change in the US that will take part in the devouring of this disgusting murdering creature,… as the US is indeed one of the seven, and the time is close, but I’m not certain if it is quite yet.

    • Robert October 21, 2010, 5:57 pm

      Good post Buster-

      I’ve contemplated that perhaps Obama and Bernanke, et al, MIGHT be intelligent enough to understand that an American debt default (and the resulting global economic collapse and re-birth) could break the grip of debt based servitude once and for all, and this might very well be why the spending continues as if all is rosy in the world…

  • brutlstrudl October 20, 2010, 2:09 am

    The fed is going to keep cutting the interest rate in half. this way they can stimulate and never get to zero. Antal Fekete calls it ” serial halving”.

  • Joshua Gamen October 19, 2010, 11:41 pm

    We need a revolution! Great article!

    http://www.youtube.com/watch?v=oSANXDp13Xc

  • fallingman October 19, 2010, 10:29 pm

    Make that…maybe the reset is closer than we think.

    • Howg October 20, 2010, 4:26 am

      Looks like this has settled into a debate between parties who all agree with one another, but with varying degrees of hope, (in politics / government). I won’t argue the point, but I do know that we already have what libertarians want – no government at all.

      And I do agree with Mao that all power, ultimately, comes from the barrel of a gun.
      W/o serious enforcement, this, what we have, does not work!

      But while everyone agrees (I think ??) that we have some sort of psychopathic corporatist government, no one has suggested the obvious. We vote for these guys every moment of every day with the way we live our lives.

      Politics aside, as long as we buy into chemo- /medicine / food / agriculture, soft drinks, processed food & prefab burgers, carcinogenic cleaning products / soaps / shampoo, MSM, phony wars & mass murder, etc… sadly, this is a very long list, then we are de facto voting for the very people we do not want running our world.

      If there were no political opposition, it would / is being created for us. They don’t really care, as long as they can sell their burgers & drugs.

      And history has shown us what power does, ever & always, to enforce its monopoly when under threat.

      So I guess this puts me firmly in the “turn-your-back” crowd… what can they do? Line everybody up at the point of a gun and force-feed GMO food?

      Not to mention that anyone in government who steps out of line is taken care of… one way or the other.

      The truly revolutionary act, and I submit the only one that will ever work, is to radically change the way live – unspectacular, not particularly newsworthy, but entirely effective, (in the long run, anyways).

      Seems to me we’re very far from anything approaching revolutionary change… Drug sales are up, and McCoke is doing OK too.
      Keeping everybody in the political game is far more effective in diverting us from the real seat of their power – we’re all buying (into) this sh*t! (propaganda too)

      All we want is better government and an end to the Fed… (good things in their own right, to be sure).

      Thinking that the FDA, say, can be reformed through better government is a great idea, but why are we buying the stuff they’re regulating in the first place?

      Real food and effective health care do require any regulation whatsoever, (except to shut it down, that is).

    • Benjamin October 20, 2010, 4:43 am

      Howg,

      “I won’t argue the point, but I do know that we already have what libertarians want – no government at all.”

      That is how some come across. They’re called anarchists, though, not libertarians 🙂

      I hold free market philosophy to be just that… a philosophy, not an ideology. Regulations, markets need, and government we simply cannot do without.

      “Thinking that the FDA, say, can be reformed through better government is a great idea, but why are we buying the stuff they’re regulating in the first place?”

      The problem with current policy is that it’s authorative regulation, which does nothing to educate people to make informed decisions. It therefore cannot grow trust in medicine and medical ethics, nor trust in the regulations in themselves. By its very nature, the approach must fail.

      That said, the whole FDA/Big Pharma issue is… Well, quite a bit more complex than “forcing drugs that don’t work”. Suffice it to say, pharmacy has had too much placed on it in the last decade, much the same way that, say, computer software did back the 90s. Shipping things off before they actually work is increasingly becoming a problem, and of course something to worry about.

      But trust me on this: it’s no agenda. They’re losing control, and all damages caused by bad medicine is not lost on the medical community; they’re getting quite a bit tired of it, too.

    • Howg October 20, 2010, 5:55 am

      Benjamin,

      Of course, I state things in a very back & white way to make a point – but the point is not that things need a little fine-tuning. There may indeed be a few worthwhile drugs, maybe many dangerous, untested ones. But really, the essence of the problem is that modern medicine / pharma know nothing about nutrition whatsoever, so the entire approach is wrong-headed and completely unscientific by any standard, (and by their own scientific standards as well).

      Likewise with monetary policy, food supply, big agro, monetary / domestic / foreign policy, and of course, what we call politics & government.

      We’re not talking about fine tuning here… everything is pretty much rotten to the core.

      I suppose my point about the ideal of small government is only that anyone who tries it will be shot!

      As to regulation, I agree with you.
      But most of what we see is just ol’ fashioned fraud.

      That said, I am not at all cynical about human productivity / creativity / potential.
      And like everyone here, I am acutely aware that the results of such are being stolen from us by you-know-who, on a daily basis.

      We all recognize the problem, from different aspects perhaps, but we all pretty much agree.

      The question is… what can we DO?
      And what can we do NOW – not tomorrow or the next day, hoping for political leadership that, should it ever arise, would be ineffectual to act within the current system (imo), the beast being what it is.

      Hope I’m wrong!
      Electing good people into government sounds like a great idea, I just think it’s missing the big picture and could be doomed to failure as a result.

      As in like lining up for flu shots at voting stations…

    • cosmo October 20, 2010, 6:59 pm

      One of the first things I was taught in Biz ed was that, “YOU VOTE WITH YOUR MONEY!” Every dollar you spend is a vote for the product or company that makes it. If you stop spending money at Mc Donalds or Walmart, or Exxon they have less money to influence the system. Quit complaining about em, just stop giving them any money!! Quite simple really. Support you local restaurants and hardware stores and retailers.
      For me it has been over 15 years since I even had a shake at McD and quit Walmart 6 years ago.

      If you take away their money, THEY HAVE NO POWER.

      BOYCOTT CORPORATE AMERICA, they are just screwing you anyway.

      Peaceful secession sounds like a great idea..how?

  • fallingman October 19, 2010, 10:26 pm

    I get your point re: having to clean out the corrupt elements before anything resembling free market capitalism has a chance. Quite so. And I acknowledge your positive intention re: ” lobbying reform. But, as long as the government has the massive power it does to confer favor on some and punish others, no real reform is possible…just sham reform, a la McCain Feingold. It’s a pipedream to think you’ll ever get meaningful reforms within the system championed by “good” people with no agenda or powerful backers.

    On the financial front …look, the financial system is already bankrupt. The banks are zombies…dead but still leading reasonably active lives as shells of their former selves. Government can’t save them. And the fox will always be disinclined to patrol the henhouse for predators. Governments are, by their nature corrupt and corrupting. It’s no accident that as the government got bigger and more powerful, their “friends” and “partners” got bigger and more powerful…and now, they own us.

    The key, for all of us, is to clearly identify the government, the Fed, and those who control them as the problem and stop supporting them in any way. Time to shrug. Time to peacefully withdraw. If my latin doesn’t fail me…to secede.

    I sense we share similar goals. I don’t disparage your intentions and I, myself, have no idea how we’re going to get out from under the corporatist thumb. On most days, I think their coup is complete. But you never know. History tells many stories of rapid and rather complete resets of corrupt cultures. Let’s just not count on government and the (private) Federal Reserve to get us out of the mess they knowingly got us into on the orders of their creators and handlers.

    Those dominoes you mention are going to fall. It’s only a question of how long the day of reckoning can be deferred. Maybe the rest is closer than we think.

  • Jill October 19, 2010, 8:58 pm

    Just saw your post, Fallingman. I agree with you in a number of ways. I think the government should be small– but still strong enough to protect taxpayers and consumers. The problem with having almost no government at all, is that you end up with situations like the following. Government, being almost non-existent, doesn’t break up, or even regulate, Too-Big-to-Fail banks. But then government officials think they have no choice but to bail them out when they go bankrupt, because the counter-party risk could bankrupt everyone else in the entire economic system. E.g. if Goldman Sachs goes bankrupt, then everyone they owe large amounts of money to will be unable to collect that money & all those companies will go bankrupt too. And everyone those now bankrupt companies owe large amounts of money to, will be unable to collect that money too– causing a huge domino effect that wrecks the whole economy. So government breakup of huge monopolies, and government regulation on the amount of risk banks can take with our deposits etc. is actually necessary for “free market” capitalism to occur– or else it just becomes “crony capitalism” where huge banks & other mega-corporations amass power & money until they can afford to own the government & to use it to rape taxpayers & consumers.

    BTW, I am not a reader of Mother Jones magazine normally. I just liked their chart of how many Congress persons are owned by the various Special Interest groups. To me that’s a lot more informative than looking at party affilitation.

    • redwilldanaher October 19, 2010, 10:14 pm

      NO. They had a choice but they chose to do what they are paid/told to do. Legalized fraud is more like it. They kept the system intact and the perpetrators were rewarded handsomely in the process. How do you know that it wasn’t planned that way?

      The problem is the facade that the government constructs. The appearance that the government is actually trying to do something to benefit the public, protecting the public, effectively regulating things or the expectation that they will intervene, that’s the problem. Justice can be bought like everything. Rulings are rigged just like most other things. I think you’re on target on most of this stuff Jill but I also think that you’re not quite cynical enough.

  • Jill October 19, 2010, 8:49 pm

    Redwildanaher, thanks for your reply & thoughts. I am not in favor of secession, as it would make a seceding state less powerful & thus at a disadvantage. I am in favor of taking back our government from the lobbyists.

    As we have things now, the battle between the free market private sector & the government is imaginary. Although the small businesses do get screwed, as no one in government is on their side, the large corporations and other Special Interests ARE the government. They control it entirely, through campaign contributions to both parties. The government does not control the corporations( e.g. big banks) at all, or even regulate them meaningfully, which is one reason why we had the financial crisis. The people in the U.S. are being distracted from this situation by the fighting between our 2 almost- identical political parties, both controlled by large Special Interest Groups (which also include huge unions of government employees & other folks.)

    In truth, there is only one political party in the U.S. and that is the SPECIAL INTERESTS LEGALLY BRIBING CONGRESS (and the president too) political party.
    Bribing of Congress by Special Interest Groups, is perfectly legal now. That is why insolvent banks can control Congress with funny money donations, while the taxpayer gets left out in the cold. We need to search our communities to find & elect only Congress people who pledge to vote for campaign finance reform, where taxpayers pay for campaigns, & who pledge to make lobbying illegal. This would be a lot cheaper than the taxpayer having to bail out every insolvent corporation who can borrow money to hire lobbyists & to donate to political campaigns. It’s simply a case of the Golden Rule of Politics: He who supplies the gold (to finance Congressional campaigns) makes the rules.

    Some folks think that government is dumb & inefficient. Au contraire, mon frere. Government is 100% smart and efficient– in carrying out the rules dictated by those who supply the gold. Have you ever heard a political campaign donor company rep say “I am going to stop donating to political campaigns, because I am not getting my money’s worth.” No, you haven’t. Do you know why? Because, if they donate sufficient funds to purchase the legislation they desire, they ALWAYS get paid back in spades. That seems to be the only “free market” we have left now– the market to buy & sell government legislation by Congress.

    I think government should be small but that it should be strong enough to protect consumers & taxpayers from those who would otherwise devour us– & that it certainly should not be controlled by these Special Interests.

    • redwilldanaher October 19, 2010, 10:08 pm

      Jill:” Redwildanaher, thanks for your reply & thoughts. I am not in favor of secession, as it would make a seceding state less powerful & thus at a disadvantage. I am in favor of taking back our government from the lobbyists.”

      LESS POWERFUL? WITH RESPECT TO WHAT? Sovereignty? I think not. Defense? Think Cuba response.

      Jill:The government does not control the corporations( e.g. big banks) at all, or even regulate them meaningfully, which is one reason why we had the financial crisis. The people in the U.S. are being distracted from this situation by the fighting between our 2 almost- identical political parties, both controlled by large Special Interest Groups (which also include huge unions of government employees & other folks.)

      I AGREE AND DISAGREE. The government and the corporations are one and the same at this point. Regulation has always failed. It’s designed to fail since the lobbyists craft it. It’s a charade. You seem to accept at face value still. I do not.

      As for the balance of your comments, I tend to agree although DC will eat most well-intended folks alive. It’s an enormous geographical malignancy that will infect nearly all the that come into contact with save for a select few.

      I think you’re overlooking something very important that gets overlooked far too frequently: Proximity. The central government of the USS is too far removed, too insulated from those that it rules over. Foolish power-puppet frauds like Barney Frank, Chris Dodd, Nancy Pelosi, Harry Reid and the former junior Senator from Chicagoland shouldn’t hold the enormous sway over my life and the future of my family. I didn’t vote once for this band of loathsome kleptocrats and I never will. Yet it’s possible that most of them will continue to sell me and my children into debt slavery and collectivist serfdom. There’s something immoral about this, no? A loose confederation of sovereign states appeals to me much more so. I can realistically expect to have my voice be heard within the sovereign state of South Carolina than I ever could in DC. I’m told that Satan’s fiddling makes it more difficult than most would expect! Anyway, how long do you think it would take for the “face hugger” to be back in place on the Statue of Liberty after a “clean house” was restored? Tempus fugit.

  • fallingman October 19, 2010, 8:36 pm

    Jill…For what it’s worth, I agree on several scores. The chances of anyone ending the Fed are very slim, and yet I dream on, because I want to dance on their grave. Both parties spend wildly. Both parties are owned by the corporatist machine, and several Libertarians (and libertarians with a small l) have been co-opted by the Republicans. In fact, they’re making the corrupt party insiders pretty uncomfortable. That should tell you something.

    But I haven’t been co-opted and there are plenty more like me, so don’t try to force me into your pigeon hole and don’t participate in the libeling of a bunch of terrific organizations that have nothing to do with the Republican party and their sleazy business.

    I’m clear that Democrats are the enemy and Republicans are the traitors…with a few notable and laudable exceptions. The LAST thing I’m doing is arguing party politics. The electoral game is a scam. I’ve stated that opinion here more than once.

    Let me ask you this in good faith. Exactly how are you proposing to end the Fed and reverse the corporatist takeover of the government? I’d like to know, because I’d probably be supportive if it doesn’t involve getting “good people” into government where they can use force to do “good” by pursuing a “progressive” agenda.

    No, I’m arguing for freedom against the fascists, the so-called progressives, and statists of all stripes. Funny how that gets me labeled as an extremist in the land of the free.

    As Joe Sobran said,

    If you want government to intervene domestically, you’re a liberal. If you want government to intervene overseas, you’re a conservative. If you want government to intervene everywhere, you’re a moderate. If you don’t want government to intervene anywhere, you’re an extremist.- Joe Sobran [1946 – 2010]

    I’m proud to be an extremist.

    • redwilldanaher October 19, 2010, 9:48 pm

      FM, I’m turning into your personal AMEN Corner this afternoon but “AMEN” I say nonetheless. It’s amazing that the folks that want to most closely adhere to the vision of the founders (distrust, anti-centralization) are today’s extremists. I’m with you though. If an extremist is a libertarian then I’m an extremist. The evidence is overwhelming and yet the overwhelming majority of the severe minority that actually see it will still opt to work within the gamed systems. To which I say: “Kobayashi Maru”

  • Arnold October 19, 2010, 7:31 pm

    Federal Reserve Bank or the United States Treasury – as the issuer of our money makes NO difference, without re-instating the Gold Cover Laws. Johnson removed the gold cover requirements for Federal Reserve assets (buying bonds) and liabilities (issuing currency). Restore the Gold Cover Laws to stop inflation and restore the U.S. dollar.

    • Steve October 21, 2010, 4:58 pm

      Talking about gold standard is idiotic belief in the executive power over money. False doctrine as American Money is silver Specie based. One cannot get away from the treasonous acts of congress by supporting the crimes of the executive branch, and violation of the Separation of Powers Doctrine.

  • Jill October 19, 2010, 7:30 pm

    Great. As if libertarians are going to end the Fed. Dream on. Libertarians have been co-opted by the Repubs. I am not talking about what policies Libertarians themselves believe in. I am talking about the realities of politics. They ALWAYS run for Congress either as Independents who don’t end up with much power, or, more often, as part of the Republican party. And both major parties are owned by the FIRE industry which includes the Fed gorilla, as show in the article I cited above. Yes, Koch IS making a difference by pushing the pro-TBTF mega-corporation-and-Fed agenda. Great. Keep arguing the Repub/Libertarian vs. Dem arguments. The Fed loves for you to be distracted by this while they steal your money. (Scroll down to the cartoon on the web site below.

    http://www.abovetopsecret.com/forum/thread525810/pg1

    As for the Chamber of Commerce issue, I don’t know whether the allegations are true or false. I do know that it is shocking that lobbyist groups do not have to make their donors’ names public. That should have been a legal requirement a long time ago. The way things are now, the government of Iran could have taken half its oil profits & paid some lobbying group to lobby the U.S. Congress for policies that would help Iran to carry out its agenda & no one would even know it. Since both major parties spend money like a drunken sailor (depsite empty promises to the contrary), what we are getting from government certainly is a dream come true for any foreign country that wants us to be weakened and bankrupt.

    • redwilldanaher October 19, 2010, 7:51 pm

      Great. Sounds like you might be in favor peaceful secession given your detailing of the predicament. I’m not a fan of FOX new’s “other side” propaganda either but they wouldn’t have been able to climb as they have if so many people hadn’t tired of the STATE TV networks which are statist/collectivist propaganda dissemination outlets. The more power that the federal government has amassed, the worse the problems in our society/country have become. The more money that they spend, the worse the results especially when each marginal dollar is considered. It took about 200ish years for them to perfect the gaming of the systems but perfect it they have. They’ve always been there but their “pimp hand” has never been stronger. The results of the pattern of abuse are everywhere we look and there’s plenty of blame to go around but there are few ways out unless you’re liquid. Very, very liquid. Why continue to be a party to unceasing madness?

  • redwilldanaher October 19, 2010, 7:19 pm

    AMEN Brother.

  • fallingman October 19, 2010, 7:10 pm

    Re: the New Yorker article linked above by Jill:

    Oh no…the evil Kochs are out to “destroy progressivism.” We can only hope. May fortune smile upon them. What are the so-called progressives making progress toward exactly anyway? That’s the question we should all be asking. A new serfdom?

    This New Yorker article, which is the classic MSM smear piece, was very heartening to me. They don’t attack you unless you’re making a difference, and apparently David Koch’s efforts are starting to bear fruit. Hallelujah.

    I love it when the statists do the guilt by association thing and the people and groups they libel are all folks I have the highest regard for. A bunch of “extremists, dontcha know.

    Just look at the names of the people and institutions they invoke to make their case that the Koch brothers are up to no good. Kayek…Bob Lefevre and the Freedom School…Cato…the Institute for Justice (a GREAT organization), George Mason University, Reason magazine. Damn good company there.

    As usual, the statists conflate libertarian elements with “the right wing.” Clueless. No libertarian or libertarian organization is a defender of the Fed or bank bailouts. That’s utter nonsense.

    The limited government, libertarian types are the very ones leading the charge to end the fed and let the banks fail…and by god, for the first time ever. we’re starting to gain a little traction. It’s probably too little too late, but ya never know.

    END THE FED and let the bankers rot in hell.

    • redwilldanaher October 19, 2010, 7:24 pm

      I hit the wrong reply button FM so I’ll type it again:

      AMEN.

  • DG October 19, 2010, 6:45 pm

    RA

    I think the hyperinflation scenario fits rather neatly in solving our debt mess and destroying the system, allowing it to be rebuilt on a sound foundation.

    “When Money Dies” spoke of decorated Generals panhandling in Germany post WW1. Imagine.
    It makes sense, since all they had was a promise – no capital, few assets.

    Then again, folks made even bigger mistakes and ushered in the National Socialists – and that real winner Adolf.

    Big sigh.

  • Jill October 19, 2010, 5:53 pm

    Congress is owned by the financial, insurance, and real estate industries, no matter what party is in office, & the Tea Party will not affect that at all.

    http://motherjones.com:80/politics/2010/09/congress-corporate-sponsors

  • Jill October 19, 2010, 5:42 pm

    Has there ever been anything done by a Dem that you liked? I didn’t think so. Has there ever been anything done by a Repub that you didn’t love? I didn’t think so.
    Here is who owns Congress, and it’s not Repub or Dem:
    http://motherjones.com:80/politics/2010/09/congress-corporate-sponsors

    The Mainstream media is so awful to Repubs? U mean like Fox News, with the most eyeballs viewing it out of all the news stations, which is just a spokespiece for the Republican party, the pro-corporate agenda, & the Tea Party.

    And here is who finances the Tea Party, and keeps pulling it back to a pro-Federal Reserve, pro-big-bank-bailout crony capitalism agenda
    http://www.newyorker.com/reporting/2010/08/30/100830fa_fact_mayer

    How can you be so blind?

    &&&&&&

    “Mother Jones” is still around? RA

    • Steve October 19, 2010, 8:17 pm

      Jill, Bigotry is ! The People herein do not support either party – which is one party. The problem is the liberals are so much worse on a grand scale of horrible. Both republicrat progressive power broker parties use theory of “The Prince” to sway a Free America back to a feudalism. Americans think for an hour, THEY think generational.

    • mikeck October 21, 2010, 2:15 pm

      Jill wrote: “Has there ever been anything done by a Dem that you liked?” Tough question, give me a day or two…seriously, they did oppose, at least rhetorically the unconstitutional wars while they were being conducted by the Repubs. They supposedly support civil liberties…notice the modifier. They got George H. W. “Read my lips” Bush out of office.

      Jill also wrote: “Has there ever been anything done by a Repub that you didn’t love?” Now this one is easy, because I can’t remember anything ever done by government that I loved. Seriously, does prescription drug scam ring a bell? Maybe planning and carrying out unconstitutional wars is OK with warmongers, but I’ll pass. They supposedly support life, but do not mind totally destroying countries while killing millions to support the military industrial, banker, security complex. I think they pretty much were in total control when the so called Patriot Act was sent out to destroy our liberty. Get my drift? A pox on both their houses.

      Mike

  • fallingman October 19, 2010, 5:27 pm

    Thanks for an excellent article. Right on the money. Puts the focus right where it needs to be and where almost no one else dares to shine the light.

    END THE FED. Anyone who doesn’t get who they really are hasn’t been paying attention. Just call ’em massa. And since JP Morgan IS the Fed, you can call them massa too. The idea that Congress controls the Fed is ludicrous.

    And yes, RWD, right on, as always. Time to get aggressive and support peaceful secession efforts. That’d shake the bastards up.

    • redwilldanaher October 19, 2010, 7:17 pm

      Thanks for the support fallingman. The only way the game keeps working is if we all remain a party to it, keep taking our seat at the party table of their choice. If we stand up to them with one of the few tools that we have then that could at least back them down in the short run. They’ve built this network of manipulation/matrix up over time and its now stronger than ever, just observe STATE TV, GE, for a day or two. It oozes manipulation as it disseminates propaganda. Remember, this is a “business” that prided itself on producing “Woodward & Bernsteins”. What have they produced since? Drudge effectively forced them to cover Clinton’s ahem… if you’ll recall. They had the story and wouldn’t run it. They use it to control minds and it’s in our faces all the time. Think of the Alien “face hugger” and you’ll have a good idea as to what we’re up against. It’s not going to release us without a good fight. Anything short of peaceful secession will be managed ultimately IMO. It might very well take the dissolution of the kleptocracy at this point. I’m not sure it can be saved or is really worth saving. I’d wish them the best in doing so but I’d gladly cut loose the collectivist mindset that most of the so-called blue state voters seem to be brainwashed by or dependent upon or both. I guess they aren’t concerned about the lack ofsustainability of such approaches or the immoral nature that’s underpins them. A frontal assault against the “face hugger’ seems impossible to me. The “Union” pulled out all stops 150 years ago, I’m sure they’ll try do it again but I think peaceful marches that invoke the words of Moses, Jesus, Gandhi and MLK (to name a few) at times and the non-stop singing of kum ba yah at others will sufficiently antagonize enough blues to eventually push us out the front door of collectivist land.

    • Steve October 19, 2010, 8:13 pm

      Right on Redwill, We are to blame for supporting what is happening.

  • DG October 19, 2010, 4:31 pm

    One need only look at those who feel entitled to pensions that on paper are WAY “too good to be true” to understand that they will never compromise their benefits to save their children’s future. Won’t happen. Like Madoff’s clients, they know they are entitled to 14% per year. Every year. They think, “Who cares if my total contributions to my pension are equal to every year’s benefit (for the next 25 years)? A deal’s a deal!” Just ask Madoff.

    It is across-the-board in the Nanny State: Medicare, pensions, earned-income tax credits…this…that — it is a mind-blowing list of obligations from a State that is underfunded by over $100 trillion. And yet, that is ignored. Willingly. Politicians won’t address it, beneficiaries will fight it, and reasonable, responsible folks are outnumbered.

    The only viable solution is to watch the weight of these obligations fall and attempt to avoid being caught up in the carnage. In fact, gently nudging it over the edge may be helpful. It sounds dramatic, but if you consider the players, and their MO, they will play until it breaks. Did Madoff’s clients want to stop the 14% return, just so they could come out with their capital? No. That would have been crazy! It is impossible to make the necessary changes because those changes will be perceived as unacceptable.

    The revolution will only occur after the implosion.

    Sigh.

    &&&&&&

    I think you’ll be right about those too-good-to-be-true public pensions. The only thing that can rein them in is a hyperinflation — one that gives way to the political epiphany that we cannot afford to keep the pensions indexed to inflation. RA

  • rmsimc October 19, 2010, 4:27 pm

    I must say that whether the contributers to RA’s site are formally educated or not is TOTALLY irrelevent…as these continue as some of the most insightful comments one can read on our current circumstances.

    I too can see through the fog; but none of this can change until TERM LIMITS are enacted on ALL legislators. Until the power brokers are morphed back to the public servents that the Framers originally intended, none of the structural changes needed can ever take hold. The reasons that this is essential are quite obvious and do not need to be enumerated to this smart bunch.

    “Liberty is when the government is afraid of the people. Tyranny is when the people fear the government.” –Thom. Jefferson.

    &&&&&&

    The Tea Party effectively leap-frogs the issue of term limits, since the goal of eliminating Congressional “tenure” is to supplant professional politicians with candidates who live and work in the real world. That is already happening via the Tea Party, and it suggests that their future success my finally bring about term limits. The singular importance of this goal cannot be overstated. RA

    • Steve October 19, 2010, 8:11 pm

      TERM LIMITS

      Hell, wake up People – become an elector and put good people in office. Take bad people out of office. Demand prosecution of wrongdoing. IT IS POLITICAL, and the courts are not going there,

      At least the French will hit the streets, which is more than I can say for Americans.

    • redwilldanaher October 20, 2010, 2:28 am

      That’s exactly what struck me recently too Steve. As misguided as they are in some ways, the French are out visually and audibly displaying their displeasure. You can question their motives, you can find them ironic, but at least they are out there protesting. Americans haven’t got the time apparently. Too busy trying to make ends meet around time spent engaged in the over-consumption of consumer disposables?

  • Carole October 19, 2010, 3:38 pm

    If any of you still question the validity or the “rightousness” of the Fed or of any central bank watch this video. This was created by the guys who created the “money masters” (another good video on the subject).

    Anyhow if this video doesn’t convince you that the Fed is evil and has an evil agenda that you are a lost cause!

    The video is almost 2 hours but worth the time.

    http://topdocumentaryfilms.com/the-secret-of-oz/

    Then if you want to see a better idea (than North’s) about what we can do for a new money system go to this web site

    http://www.digitalcoin.info/Digital_Coin_Introduction.html

    Steve is correct in his reply above however the issue of gold or gold and silver as the basis of a money for a free people and as dictated by the CONstitution is STILL a con job in my opinion. We need a money system that is NOT controlled by any group of elites whether that group be a “representative” group (who only represent those who have bought and paid for their services) or a group of unelected elites (the Fed). We need a new money system where the people create and control their own money.

    watch http://www.digitalcoin.info/Digital_Coin_Introduction.html

    • Steve October 19, 2010, 8:07 pm

      Carol,

      That is what is had in a Republican form of government, instead of what IS NOW. Pull out Carl Marx and read the 10 points, and compare. Embasement is High Treason. Prosecute a few, and execute judgment and there will be Peace for awhile. The corporate legislature is not representative of the People, but; the creator of a new class of persons corporate enfranchised under Roman Civil Law. The New High Court of a foreign government U.S. territory.

      Once the Rights of Man were superior to the will of the masses; as exists in current federal form feudalism. Return to the point where the individual can charge the masses for their crimes against the Peace and Dignity of Free Peoples, and there will be change. The House of Representatives has no FEAR, and thus is fearless in your face..

      A Revolutionary Act would be for the masses to support Individual Rights peacefully

  • redwilldanaher October 19, 2010, 3:26 pm

    Rick, I enjoy your perspective but I’d ratchet the labeling up on the MSM. From what I’ve seen it has been well established that any GE media outlet has effectively become STATE TV or what have you. Indirectly owning and managing the media is what makes it all possible. I agree with you regarding the TEA partiers and others like them. Many are and will be turning their sights on big media. Electronic communication, the Internet, etc. are the only things that can bring success to a revolution against STATE media which is really Cartel media. Clearly TPTB understand this and they’re seeking to clutch control over these options as well. I’d like to think that a/the revolution could get somewhere but I have serious doubts that it could if it opts to set its sights directly on the 800lb. gorilla that is the nexus of DC, the Street, the Banksters, the MIC, big pharma et al. A frontal assault would be crushed IMO. Even not too many people still rely on the MSM and believe it. The country is nearly evenly divided and both sides are strongly entrenched in their positions (psychologically) IMO. That’s why I argue in favor of the secession option (My spider sense tells me that Steve may reply to this post…). A southern coastal state would probably make the most sense since the elitist mentality that’s based nearly entirely on Hollywood stereotyping would shout “good riddance you rednecks…” There’s no problem from a moral/ethical perspective either in terms of leaving said southern state’s share of the massive US debts and obligations with Uncle Scam. Those debts were engineered and amassed by kleptocrats as ways of enriching their handlers. So in fact the opposite is the case. Paying or subsidizing these debts and schemes is unethical/immoral. Peaceful secession is the one way out and just as last time around there will likely be many other states that follow none of which will be of the blue mentality. They’d rather go down with the ship.

  • mario cavolo October 19, 2010, 2:55 pm

    What if many more people all together now, especially people who have little way to support themselves with employment, started making money by trading, by simply buying assets including equities, gold, etc.

    What if Joe general public all gladly joined the POMO in one big happy stock market party to 30,000 for the next 10 years instead of bitched and moaned about it as evil and sneaky and crazy? It could very well be the direction we’re going, the equities and gold will continue to rise and rise in a bubble because there’s no place else to put your money, dollars will become of less and less value as the price of all assets and stuff goes up and up. Would Bernanke ever state after an FOMC meeting “We recognize continued weakness in unemployment, encourage equity investment for American families to build their assets and as is already quite well known, support the stock market with POMO investment ourselves to support the American economic recovery.” This is the atmosphere POMO is trying to create or what?, like China encouraging people to buy gold (they’re not really but you get the idea). Bernanke’s current remarks indicate an all in buy of stocks to support the economy as a specific, obvious chosen strategy and why the hell not? Anyone got any better ideas?

    But at some point people need cash, they have to sell only because they need cash to buy budget necessities. And as our future wears on, that cash will buy less and less and less, bonds will not collapse, mark my words, just like Japan we got a decade of rock bottom yields in front of us….Dow 30,000/gold 5000/eggs $10 here we come.

    • redwilldanaher October 19, 2010, 3:37 pm

      Bonds won’t collapse unless we finally have the “emperor has no clothes” moment. If the FED and the Treasury are allowed to pretend that they actually sell all this paper to phantom buyers that are actually just partners in the scheme (shill bidders) using money given to them by the FED to buy the paper then it is likely to keep on truckin’ for a good long while. In the unlikely event that the public actually wakes up and figures out that they are witnessing the scene from Goodfellas that involved the restaurant/insurance fraud/trafficking/fencing operation then the Emperor will finally be seen in his natural form.

  • Benjamin October 19, 2010, 2:47 pm

    I can’t wait to read the comments today. Thanks, Rick. You always manage to stir the pot and make for interesting reading and debate!

    Where to begin with my own comment… Let’s see…

    I’ve read it spariningly among the feverent pitches around the ‘net, that it’s not even really a matter of parties/candidates. Yes, yes, we all KNEW that, Ben!

    But here’s the twist…

    First, the stage — It’s the network, all over the world. As we so often here in the reports on “the latest scientific findings”, there’s a group blindly refered to as “the experts”. Only these are called policymakers (but we knew that, too)

    The twist in plot — Ben Bernanke would not even be the best example, as it is the MO of agendamakers to stay low-profile, as faceless and namless individuals. In fact, it may not so much be the people called policymakers, but the policies/agendas themselves; they are well capable of outliving all political sentiment and candidates and parties, so it stands to reason that they even outlive their low-profile promoters.

    The rabbit hole surely goes deeper. The problem is embedded ideologies as much as it is hidden individuals. The human species heretofore (and still pending) has not dared to NOT differ to the ideologies of the “almighty and immortal” policy.

    So I believe even the policymakers themselves (no matter if they’re powerful families or not) have not the courage of mind to challenge what has always been practiced to this day. They are just as mentally stunted from centuries of differing as much as any human has become.

    They are NOT all-powerful, _for they do not think_. They merely follow! So we have met the enemy and he is us. All of us.

    In the last RP election commentary, I posted a YouTube link to some zombie movie footage. More brains. We need MORE brains! lol

  • mario cavolo October 19, 2010, 1:49 pm

    Hi RWD and all, “Let’s commend them for a heckuva performance”….I just watched “Wall Street II” …fine but a bit trite and expected was my reaction unfortunately. But it did drive the point home that we are somehow “in” a financial crisis right now, hip deep baby, and yet call it what we want, its a new normal, a house of cards ready to tumble blah blah which may indeed tumble but when?…six months? six years? 13.5 years? How about never? The end game will be inflation that will continue further choke the have nots, nothing new in history as far as that goes.

    I had a scary thought: cash is the risk on asset, not the stock market. Are we getting to the point that that’s what the smart money knows and that’s why stocks worldwide and gold are going up and staying up? We’d be NUTS to have our assets in USD cash right now, that’s riskier than having it in equities! But isn’t that the bubble driving point?

    Idealistic solutions like North put forth are interesting reads…but all that matters is for us to understand that there are the powers at be figuratively sitting around a conference table deciding which strategies, policies and responses to consider and there’s an obvious list of those strategies, policies and responses which are not going to be pursued, and which are. Adjust and trade accordingly is all we can do.

    Cheers, Mario

  • redwilldanaher October 19, 2010, 12:11 pm

    Here’s a link to the most obvious manipulation source in the equity markets. I post it for all those skeptical of the cynics and those that are only too happy to cheer for their jailers. http://www.zerohedge.com/sites/default/files/images/user5/imageroot/shirakawa/POMO%20vs%20Non%20Pomo.jpg As for Keith’s comments…

    The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.

    Today, the Federal Reserve’s duties fall into four general areas:
    – conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates.

    Let’s commend them for a heckuva performance.

  • keith October 19, 2010, 9:12 am

    Volker, Greenspan, and Bernanke have told congress the same thing… you have to stop your deficit spending. I’m sorry, but I lay no blame on the federal reserve for the problems that we have today. The federal government has pressured the federal reserve to make the wrong decisions time and time again for gain of power and votes.

    Let’s go back to Bush’s housing act (the no family without a home) which led to subprime and the finishing stroke of the housing bubble. All the junk loans were guaranteed by fannie and freddie (government) causing a loan orgy throughout the banking system. Greenspan told congress it was a bad idea and not to do it. Congress goes for it anyway and when the whole thing blows up, guess what. They blame the federal reserve.

    What I’m suggesting is that it is not the federal reserve and the banking system that “controls” government. It’s the other way around. Congress and the Presidency uses the federal reserve as a whipping post. The Fed answers congress with “what is thy bidding my master”.

    I have no faith or confidence that congress, under a democratic system will somehow be better stewards of money and credit. The only hope we have is to shift towards a republic again and regain adherence to the constitution. Anything else is just a horse and pony show.

    • Benjamin October 19, 2010, 2:56 pm

      “I’m sorry, but I lay no blame on the federal reserve for the problems that we have today.”

      And yet the Fed keeps on doing what they do.

      Here ya go… stop doing that! Here ya go… stop doing that! Here ya go… stop doing that! Here ya go…

      The Fed is a broken record, as much as the governments of the world are.

    • Erin October 19, 2010, 3:22 pm

      With all due respect…Are you kidding? The federal reserve is the biggest problem that we have in this country! Can you print money at your house when you run out? I did’nt think so…(not legally anyway)…But it is okay for them to do it? Does not anyone wonder how we have gotten to where we are today with a dollar that is worth pennies of it’s original purchasing power? The best example is let us say that there is one autographed picture of the newest teen sensation Justin Bieber and it goes to auction…How much would that be worth? To someone who would want that…Alot! Now let us say there is not one, but one million of those…How much would they be worth? Alot less right? Now let us say there is one hundred million of them…How much are they worth now? See where I am going? This is just stupid common sense…The more of something in circulation the less value it has…End the fed now!!!
      Damn it this pisses me off!!! This entity is so destructive that we will never prosper as a nation with this cartel in charge…In case I forgot to mention it…End the fed now!!!

    • keith October 19, 2010, 3:41 pm

      The Fed wouldn’t make as many stupid moves if it weren’t manipulated by government. It’s just my observation from watching congressional hearings involving the Fed.

      Do you really think that if there was no Federal Reserve and the money supply was in the hands of congress it wouldn’t have been inflated?? We’d be in the same situation but probably worse.

    • redwilldanaher October 19, 2010, 3:42 pm

      Thanks Ben, Erin, I couldn’t muster the strength. Keith is indefatigably impervious or something like that…
      It’s tough to tell in a comment forum but my gut tells me that Keith wanted someone to take the bait.

    • Benjamin October 19, 2010, 3:57 pm

      Keith,

      “The Fed wouldn’t make as many stupid moves if it weren’t manipulated by government. It’s just my observation from watching congressional hearings involving the Fed.”

      Nothing wrong with arguing an observation. And I concede you the point that you are indeed correct based on that observation.

      But that’s not the only observation, of course. Among them: Do we have examples in history where it wasn’t “tit for tat” among central bankers and government?

      “Do you really think that if there was no Federal Reserve and the money supply was in the hands of congress it wouldn’t have been inflated??”

      That all depends on what rules are placed on Congress and how vigrously/honestly those are enforced.

      Now, if this were a different topic, I could show you how it would be done. Not only that, but without taxation, in the sense it is normally understood, and never with any ongoing debt obligations created in wake of doing things that way.

      If you’d like, I can explain through email (I trust this won’t be abused by the readers here)…

      b_tangler_man@yahoo.com

    • keith October 19, 2010, 5:43 pm

      Benjamin I appreciate your response. Let me say that I’m a hardcore constitutionalist and would love to see things go back to where they were 100 years ago. If we could honor the constitution “…make anything but gold and silver coin a tender in payments and debts” then perhaps that restraint would keep government in check. Sadly, we have gone from a republic to something more like a democracy. People will now continuously vote for the cookies and candy which means the the elected officials will always tax, borrow, and spend.

      I suggest that even if we stayed on the gold standard the coins in circulation would have been greatly debased by now. At the end of the day, the fault now lies on the american voting people. We’ve strayed from out founding fathers like a teenager rebells against his parents, only to find later in life they were right all along. Let’s just hope there is still time for redemption.

      I see the failure of the Federal Reserve as a symptom and not the cause. Abolishing the Feds without reform of government will be suicidal to this nation.

    • Erin October 19, 2010, 6:00 pm

      Keith, I agree 100% that if congress or the fed had their choice the situation would be the same…BUT, congress does not have access to the atm without the FED. Just use the debt ceiling as an example..What is the point of having a ceiling for debt when you can just raise it??? This country continues to treat the symptoms instead of the disease. The disease is the fed, the symptoms are the inflation, joblessness, rising debts and so on. All they continue to do is lower the cost of capital for anyone and everyone while buying time for themselves with ever lower and lower interest rates…That is how the ponzi scheme works…If they do not do that, no one will have any money to spend because we are broke and for every lower tick of interest rates the value of our currency goes down and prices rise for goods and services so there is no true net gain. We are punishing savers for living within their means. Those savers give us the true capital which will rebuild this nation. The country is not educated enough on this paricular subject…All they understand is that rates are going lower so they can buy and refinance once again for the tenth time in 3 years. We as a nation cannot continue this path without dire consequences to our standard of living. Debt and more credit is not the answer to prosperity! The end game is near…Mortgage rates will be in the 1%-2% range before people really start to understand why this is not working. The people in this country for the most part want to deleverage and get out of their debt. But they cannot because government continues to take on debt for them. Every dollar needs to be paid back…There will be no exceptions to that rule…Pay me now or pay me later!!!

    • Benjamin October 19, 2010, 6:16 pm

      Keith,

      I understand exactly what you’re saying. And that would be the outcome. Debased coins…But is that really wrong? Let me put it like this…

      An ounce is an ounce is an ounce on the world market. Same for an atom of gold. That would be the currency definition, it’s domestic purchasing power. The problems arise when that definition is forced in foreign trade, specifically settling foreign debt.

      But suppose Congress did set the weight so low. Does that not, then, ipso facto, make it easier for domestic debtors to pay their foreign debts while providing for government and maintaining domestic production?

      (Additionally, though not guaranteed, it can encourage foreign gold and silver to go into a domestic market to buy and invest; more bang for the ounce, ie)

      Domestically, debased coin is fine. It’s foreign trade that matters. But with the hard money back in the right place (common circulation; not BW policies), corruption would not find a foothold in that area.

      Of course, too much lowering of dollar weight over too short a time would be a disaster. Thus, the rules I mentioned. There can be solid rules in place that prevent a willy-nilly change in weight. Objective-based rules, at that, to create a standard by which the Congress makes their decision.

    • Carl Lindfors October 19, 2010, 6:37 pm

      “..no blame on the Federal reserve”?! Are you serious?! They have been nothing les than serial enablers for decades. Exactly how do you think that all this deficit spending occurs? Can’t happen without the cooperation of the Fed.

    • keith October 19, 2010, 6:44 pm

      Erin, well said.

      Indeed the end game is upon us. The federal reserve over the last two years has effectively gone bankrupt bailing out the U.S. Pretty nice ponzi scheme to say the least and now we’re left not only with a bankrupt government but a central bank as well. It seems we are on the same page here, it’s just our perspectives are different. I knew when I first posted it was going to cause a firestorm.

      Raising the debt ceiling is a good point that gives strength to my argument actually. The debt ceiling is the governments budget and with or without the FR they would find a way to debase and inflate. Without the FR they would find an ATM machine somewhere else. If we were pure fiat the treasury would simply print. If we were on a gold standard they would debase the coin. Fiat money has a 100% failure rate without exception and no coin has ever retained it’s quality.

      I know ‘eyes’ are going to start ‘rolling’ on this one but I think without the federal reserves we would have crashed sooner. That doesn’t make it better… it might make the end game more horrific and without remedy. In summary, I still believe it’s the government and voters that are the disease.

    • Robert October 19, 2010, 6:55 pm

      You may not realize it Keith, but your statement above may not “blame” the Federal Reserve, but it does a STELLAR job of indicting the Federal Reserve for it’s one monumental failing- printing currency to ensure that the costs of federal bureaucratic insanity are stripped from the capital savings of the citizenry…

      I don’t care what Greenspan, Volcker, or Bernanke SAY to Congress… Their actions speak volumes toward their true intentions.

      To use Ben’s anology above, you can tell your kids over and over and over again not to touch a hot pot on the stove- some kids are just not going to learn the lesson until their finger is under cold running water as the blister forms.

      If the Fed was REALLY wanting to slow government spending, then they’d be doing EXACTLY the opposite of what they are currently doing- that is- they’d be ratching interest rates HIGHER by SELLING Treasuries in order to make the sting of the Federal debt a little more intense on the politicians- but instead they are preparing to spray a little more novacain on the burn so that Congress can continue to play as if the blister does not exist…

      Because of this, the Fed has no rational justification for existing.

      To vote, or not to vote, for the lesser of two evils will do less to make this nation healthy than the simple practice of taking my capital “off the grid” and keeping it in a medium that is untouchable- And please, no arguments about confiscation. there will never be enough ATF, NSA, or DHS officers to facilitate nationwide home to home searches with metal detectors… there would be an armed insurrection LONG before such an event could come to pass. I mean- police forces all over the country are already declaring that they lack the manpower to respond to burglury and other “property related” crimes- how on Earth are they going to staff up sufficiently to search the country for buried treasure…?

      The argument is ridiculous on its face

    • Erin October 19, 2010, 7:06 pm

      Keith, We have a good conversation going and we will agree to disagree but you said something which I really should have stated so thank you for that…Here is what you said.. “I know ‘eyes’ are going to start ‘rolling’ on this one but I think without the federal reserves we would have crashed sooner.” That my friend is exactly what should have happened a long time ago…If they would let failure take it’s course and let the market determine the winners and losers all of us would be better off…There would be no need for bailing out by taxpayers. What they keep doing by bailing out is rewarding failure for the greater good(complete nonsense)…But either way the crises just keep getting bigger and bigger too the point we are now when everything is a ponzi scheme. Enough said…Thank you for that Keith!

    • keith October 19, 2010, 7:30 pm

      Benjamin- I agree with you. Debasement would also be better than borrowing money and paying interest to foreign countries. It’s not perfect (just better). Life, death and taxes… and if the taxes come in the form of debasement I’m ok with that but it would require a government that practices great austerity and willing to replenish during the good times. We don’t have that but lets hope.

      Robert-
      [If the Fed was REALLY wanting to slow government spending, then they’d be doing EXACTLY the opposite of what they are currently doing]

      That’s where I disagree. The FR does what the government tells them to do. The government controls the fed.

    • Benjamin October 19, 2010, 8:24 pm

      Keith,

      I see this discussion growing as fast as the debt (okay, so we have light years, yet!), so I’ll keep this short…

      “Debasement would also be better than borrowing money and paying interest to foreign countries. It’s not perfect (just better). ”

      And that is all we can hope for. It’s both logically and humanly impossible to do more. Granted, from time to time productivity reaches new heights, a renaissance/revolution, but no laws or policy or lackthereof can bring those about. The most we can do is protect ourselves as best we can in between those times.

      Nice talkin’ to ya. been a productive day, I think! 🙂

    • mikeck October 21, 2010, 12:55 pm

      This ain’t rocket science…all fiat money reaches it’s true value in the end, ZERO. Ours will be no different and changing who has control would make no difference.

      Competitive currencies is the only system I can see wherein the public will not be ripped off by their servants. If one is force to think about what they use for exchanges, they will chose something of value or be eliminated from the gene pool.

      This may be a minor point to those who still worry about the boogie man under the bed, but if wars were pay as you go, there would be less of them planned.

      Mike

  • Sigmund Fraud October 19, 2010, 8:33 am

    Bring a new age of enlightenment regarding money, banking, and the state; the revolution will naturally follow.

    • Robert October 21, 2010, 5:49 pm

      “Bring a new age of enlightenment regarding money, banking, and the state; the revolution will naturally follow.”

      That “New age of enlightenment” has existed for hundreds of centuries- it is just that, for whatever reason, history is resplendant with periods where most people choose to ignore it and blindly trust others.

      The “enlightenment” comes to the individual when they discover that only money created as a consequence of work tends to preserve its value over time. It’s such a simple concept it should be elementary…

      Granting anyone (the bank, the state, the nation, or any “establishment”) the legal ability to create at will what you must work for makes them the antithesis to the accumulation and preservation of your wealth…

      Your labor is YOUR RIGHT, as it is based on the fundamental choice of to work, or not to work; and therefore it is your PROPERTY- and so too should be the permanent rewards of your labor. I dare anyone to declare, and to argue succesfully, that governmental debasement of currency does not run contrary to this fact.

      I know the truth, as does so many others who post in this forum, and other forums, all over the Internet.

      Truth endures and withstands the pressure of all scrutiny. This time is NOT different, except for the fact that technology is allowing the truth to reach more people in rapid fashion than ever before….

      How can this not be a game-changer?

  • TKO October 19, 2010, 7:47 am

    It is a revolution in my congressional district in New York City. Normally the district votes 70/30 Democratic and sometimes greater. The Republicans have to beg someone to run and then immediately abandon him to his fate. The incumbent liberal Democrat is well known, has a million dollar plus warchest, and he is being groomed for (and he is focusing on) higher office. So certain are the Democrats of the usual easy win, that they have done no polling and are counting on the machine to produce the usual result. The Republican challenger, a retired busnessman who initially declared to the pols that he would rather have a hole in his head than go to Washington, quickly attracted 400 volunteers (including yours truly). These workers are not the party hacks, bored retirees, or needy pensioners that normally man the trenches, but a broad spectrum of citizens to include professionals, civil servants, union workers, shop owners etc etc that have been energized by the current calamitous state of the nations affairs. When was the last time you saw a medical doctor and his wife handing out cards to passersby on the corner? Our present Democratic Congressman is only now just beginning to sense the revolutionary mood sweeping the district and I believe he is going to get the shock of his life on election day. As this is an off year, the turnout will be low; but every large and small businessman, every doctor and dentist, every shopkeeper, all of the teapartiers, and the Conservatives and the Republicans and all those who are appalled at the current direction of the country will be out voting.

  • buck novak October 19, 2010, 7:31 am

    Revolution, hell that sounds like a lot of fun. I have experience in combat thanks to LBJ. If we can’t vote the bums out we will throw the bums out. Although I have a degree in economics and have studied the banking system I am beginning to believe the Fed is destructive organization. As Jim Grant described it, it is now a central planner not a central banker.

  • Steve October 19, 2010, 7:27 am

    I took the time to read North once again prior to writing this statement. I started reading North perhaps 10 years ago, and I have communicated with North including his famous, or infamous “Tar Baby Excuse” for not defending hollow theory. The conclusion I have drawn from everything I have seen is that Gary North appears to be, or may be, a ‘college degree bigot’. Because I do not have a Masters, or Doctorate Degree my mind and thought is inferior and useless. A phrase I learned from a Navy Seal (the #1 Seal at one point) teaching in an organization called Landmark Education is “. . . doesn’t know his ass from a hole in the ground”.

    Explaining the fallacy of the article’s failures, and keeping in tune with the basic good ideas presented takes reams of paper.

    The Banking Act of 1913 is VOID – yet; it is supported by the rebellion of persons who choose the easy road to destruction.

    Voters are not ‘electors’ as contemplated constitutionally, and assent to inferior advisory military registration under the Commander in Chief, see; The State of Georgia v. Stanton 73 U.S. 50.

    The writing refuses to address voluntary slavery under the 14th free political act of 1868, and the fraud of Philander Knoxx in “deeming” that which was illegitimate legitimate. (there is no recourse to the misrepresentation/fraud of the 14th amendment, as well as the 16th which created no new power of taxation – excise taxation of corporate enfranchisees is legitimate without the 16th amendment)

    The writing refuses to address the Law of Escheats, and the conclusive presumption the article bites into; no Right of Inheritance as contemplated by the courts, and state (a jury could fix this, but; they will not)

    We have ‘Face Value’ Coin already established by legislative act, Coinage Act of 1792 and Act of 1985, in regard to silver Specie Coin money – no changes necessary. A Dollar is a legislatively established “Value” since 1792 = Spanish Milled Dollar.

    I’m going to stop only because the problem is not with the office of president F.D.R. who created an ‘executive gold dollar’ to infringe the Dollar as a legislative value in violation of the Separation of Powers Doctrine. (High Treason) (again an honest jury could fix this)

    I’m not going to go into Standing Case Law on the embasement of Coin as High Treason. (you have all read it here before)

    I am going to address the failure of the article to address the question: Why Mr. North, when there is Lawful Legal Tender Coin struck at the Mint, do the people refuse to do what is Moral, Ethical, and Honest in use of said Legal Tender Coin of Value from the Mint for the several States?

    The article is nothing short of the overthrow of the history of coining money as an exclusive legislative power. Not only that but the suggestions contained by the writing demand the overthrow of the Constitution, (sedition at best). In my opinion there is nothing wrong with The Coinage Act of 1792, and the theory of money presented by Jefferson, and most of the Framers including those who understood Hamilton was a British Tyrant intent on using ‘debt’ to enslave the People under a central power. Aaron Burr certainly knew this truth before asking the
    G-d of Abraham to make judgment. (ever heard “worthless as a ___________”)

    We have a single problem in that we are not a Nation that loves Freedom and Liberty. The pen of the writing can do something today – there is choice not taken. There is no need to change the Law, only to change the hearts of those who will not choose to change what is wrong within an utterly null and void Banking Act of 1913.

    Be sure that Obama does not want CHANGE, nor; did BUSH 43 want CHANGE, nor; does the congress want CHANGE because they would loose the power of abuse, forced loans, and invasion of privacy by princes and lords (ya might call them the alphabet boyz like NSA). Your new congress will not voluntarily give up unauthorized power taken under “The Prince”, and national emergency declared each September. You can change Mr. North, yet; there appears to be no change to choose what the several States provide, and what the Mint provides in Legal Tender Coin, silver Specie Money of Legislative “Value” TODAY.

    Title 31 Public Policy on money – not Law – Public Policy. Currency Cases – only addressed the territorial powers of congress to create fiat as a tally (Article I, sec. 8, cls. 17 exclusive authority in the district, and over federal residents) [distinction to several State Citizenship prior to 1868]

    Want to do something Mr. North? See the governor of the STATE prosecuted for breach of contract, Article I, sec. 10, cls. 1, No State Shall. . .”. The Currency Cases only addressed the Rights of the Federal Government to print tally fiat, but; no one has addressed the several State question. Article I, sec. 1o only applies to the States, not the federal governmental territorial, and district powers under Master/Servant Law, and Roman Civil Law.

    This is all about the People and the refusal of the People to CHANGE to what is Right, and Righteous in Blind Justice.

    The first problem is called “Standing”, and no U.S. 14th voluntary resident has “Standing” to bring a constitutional question in Law to a court. Then there is the problem of understanding a thing called “Silent Judicial Notice” where in the judge judges under the law of the case – in this case Roman Civil Law, or Master/Servant Law because it is “deemed” no one may inherit the Rights of Man a.k.a. Life, Liberty, and the Pursuit of Happiness.

    Well, I didn’t stop did I. But I will now.

    THE TRUTH IS WHAT ONE FINDS NOT NECESSARILY WHAT ONE WANTS TO KNOW

    • Benjamin October 19, 2010, 3:34 pm

      Whoa! Whoa! Hold on a minute, there, Steve! 🙂

      I don’t know if you saw my response to one of your posts yesterday, so here it is…

      http://www.rickackerman.com/2010/10/the-eve-of-destruction/#comment-12269

      People cannot begin to control Big Government until they can reduce it. They can’t reduce it so long as they remain either afraid of gold/silver or, because few bother to present convincing arguments, remain ignorant as the pot continues to boil up in temperature. What North and I suggest is a “white hat” solution…

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

      Hack the system for ethical reasons. As for overthrowing the Constitution… Western culture is based on more than our Constitution. And Western culture generally holds that when a group or individual have possession of something they have accquired unlawfuly, it shouldn’t be allowed to stand.
      Besides, the Constitution would agree. Government never had a right to do what it did, and what it did was started by a generation mostly if not entirely dead. As the surviving generations, it’s our job and self-responsibility to change those bad decesions of the past.

      Especially given what’s at stake here: Civilization itself.

      People make mistakes. We learn the hazards of fire by being burned by it. But it’s pure ideological nonsense to suggest people, having been dumb enough to touch it, should just fully immerse their sorry butts and do the gene pool and/or ideology a favor.

    • redwilldanaher October 19, 2010, 7:22 pm

      Erin, Robert, Benjamin,

      Great job. (very strong golf clap from me)

    • Benjamin October 19, 2010, 8:18 pm

      Thanks, red. I try.

      I don’t exactly disagree with Steve in general principle. But when the system is programmed to commit suicide… something has to be done. Not to save IT, but those in it.

    • Robert October 20, 2010, 12:38 am

      Steve- I love reading your posts about specie money and the law, but what of the guy in Nevada who was recently prosecuted for “circulating” legal tender Eagles to his employees as payment and reporting the exchange at face value?

      The judge summarily ruled for the plaintiff (the IRS, of course) that Eagles are Bullion (collectibles) first, and legal tender 2nd…

      I believe the defendant is appealing in order to get the case in front of a jury, but I’m not sure.

      See, the judges are as corrupt (or as stupid, take your pick) as the Congress. They create, pass, and judge on laws that they know nothing about, and they don’t take the time to review precedent or case history.

    • mikeck October 21, 2010, 12:38 pm

      Robert wrote: “See, the judges are as corrupt (or as stupid, take your pick) as the Congress. They create, pass, and judge on laws that they know nothing about, and they don’t take the time to review precedent or case history.”

      Hear, hear!! I sat in on the trial of Larken Rose and watched the judge brow beat the jury, give the prosecution free rein and throw up road blocks in front of the defense all the way. The Injustice Department is a much better title.

      We all know the system is broke and I’m of the belief that it will never be fixed until our fiat money, like all those that preceded it, joins those others in the dustbin of history.

      Even Bill Still and Ellen Brown have it wrong…the states also cannot be trusted with the power to create what others have to work for…only God could, maybe, be trusted with that power.

      I’m still awaiting a reason for the taking of my Liberty Dollars…in light of the above, I’m not holding my breath, but I also ain’t fergiten.

      Mike

    • Colorado October 22, 2010, 7:18 pm

      We can escape Fed dollars that are loaned into existence by using fiat coin from the US Mint. We can go to real money silver eagles and gold eagles from the US Mint, as authorized in 1985.

      We have the tools we need to eliminate the Fed from our daily lives. Most of us are too lazy to do so.
      We have a single problem in that we are not a Nation that loves Freedom and Liberty.

      Colorado candidates who understand real money:
      Tim Leonard
      http://timleonardforstatesenate.com

      Stephen Bailey
      http://www.stephenbaileyforcongress.com

      Stephen Bailey will work to end the fed. Call him and talk to him about it.
      303.652.1575

      Consider sending these guys a few Fed notes. Tim can win the battle against his liberal opponent who is a career government tax eater.