Wednesday, September 30, 2009

Paper vs Gold

By Doug Casey

[P]aper money is an excellent means for governments to tax people indirectly, surreptitiously, through inflation. That’s one reason central bankers love paper money, but also, phony economic theories, like those of John Maynard Keynes, hold that the government not only can but should meddle with the economy, and the ability to print paper money gives them a means to do that.
In today’s world, not only do people around the world take it for granted that paper is money, but that it should be so.
But it’s all nonsense. It’s one reason for taking a gloomy view of humanity – people will believe almost any kind of claptrap, if the story is retailed by those in authority.
After the current system collapses, as every paper money system in the past has collapsed, some form of money will have to replace it, and it’s almost certainly going to be gold....Dollars today say "Federal Reserve Note," not "XYZ Bank Note" on the back, because they aren’t redeemable for anything besides more Federal Reserve notes. That’s why today’s paper money substitutes are called fiat currencies; they have zero intrinsic value and are not redeemable for anything, but are accepted because the government will put you in jail if you don’t. It’s a fiat accomplished by force, not real value recognized by those who accept the notes.

Monday, September 28, 2009

Garbage Dump on Turtle Bay

By Mark Steyn:

"It's a good basic axiom that if you take a quart of ice cream and a quart of dog feces and mix 'em together the result will taste more like the latter than the former. That's the problem with the U.N.

"The day after the U.S. president addressed the U.N., the prime minister of Israel took to the podium and held up a copy of the minutes of the Wannsee Conference at which German officials planned the "Final Solution" to their Jewish problem.
This is the pathetic state to which the U.N. has been reduced after six decades: The Jew-hatred of Ahmadinejad and others is so routine that a sane man has to stand up and attempt to demonstrate to lunatics that the Holocaust actually happened.
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Monday, September 07, 2009

The Lyin' Sleeps

By: Vin Suprynowicz

Read the paeans from the left, praising [Ted Kennedy] as a “lion of the Senate.” They speak of his endless concern for the “underprivileged,” though they’re woefully short on specifics.

The socialists and redistributionists always seek forgiveness for their errors and excesses – the policies that have driven this country to the brink of bankruptcy and hyperinflation – in terms of what they meant to accomplish for “the poor and the downtrodden.” But who is it who suffers worst in the hard times their policies have brought about? The hard-working poor, who find their jobs gone, their mortgages “upside down,” the once-proud currency in which their savings and investments are denominated increasingly worthless.

The welfare classes will do all right – for a while. But what favor have the condescending handouts of the Ted Kennedys of Washington done them, by locking them into multiple generations of fatherless, spiritless, smoldering angry dependence, while gradually sapping and enervating the larger, entrepreneurial, once vibrant free market economy which could have offered them real opportunity?

Listen to the tuneful, harmonic music – whether joyful or sad – that came out of our inner cities in the 1920s, 1940s, 1950s and ’60s. Now listen (not that you have much choice) to the hate-filled obscenities and thumping, droning, tuneless paeans to crime and whoredom blasting out of the stereo of the young man’s car pulled up next to you at the stoplight. Can this be insignificant? [...snip...]

The family wealth, power and privilege got Ted Kennedy back into Harvard after that little cheating thing. It got him a suspended sentence for “leaving the scene of an accident” after his drunken driving caused the death of Mary Jo Kopechne … if that’s really what happened … just as the family wealth and power covered up that little problem when young Lt. John Kennedy ignored all advice and continued his affair with that lady German spy during World War II.The Kennedy boys were taught that their family wealth and power would get them out of anything. But will they get US out of anything? Are Americans more free today than before Ted Kennedy put on his engineer’s cap and started running the little toy train set he inherited from his older brothers?

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