Like a modern day Cyclops with one eye and a stunted brain, our Federal Government now grows fatter and fatter every decade as it corrupts the forces of freedom and the soundness of our money in its lust for hegemony both domestically and internationally. Grunting and belching, regimenting and taxing, spending and consuming with the abandon of a drunken Caesar, this gargantuan beast has, in the span of 90 years, transformed a once productive marvel and manufacturing leader of the world into a decadent debtor nation hell-bent to follow Rome into the dustbin of history.
Nelson Hultberg
Great Quotes
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There is a difference between an “optimist” and a fool. An optimist is somebody who looks at bleak facts and decides to make the best of the situation that they can. A fool is somebody who looks at bleak facts and decides to ignore them because they are too upsetting.
Matthew David Savinar
Heaven is a mind in peace and hell a mind in pieces
JSB
There is really only one sane economic response for Americans at this point. And that is to buy physical gold and silver bullion and keep your stash of these items growing. Use Washington’s money to get some of your own money. Get money Washington can’t devalue and destroy. Turn green into gold and become independently wealthy in the truest sense of the word.
Dennis Wheeler
“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.”
Frederic Bastiat, The Law
“The gold standard acted as a silent watchdog to prevent ‘unlimited public spending.’ Our finances will never be brought in order until Congress is compelled to do so. Making our money redeemable in gold will create this compulsion.”
“. . . when you recall that one of the first moves by Lenin, Mussolini, Roosevelt and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the the rare prize known as human liberty. Also, when you find that Lenin declared and demonstrated that a sure way to overturn the existing social order and bring about communism was by printing press paper money, then again you are impressed with the possibility of a relationship between a gold-backed money and human freedom.”
Rep. Howard Buffett
“The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit…. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value…. Deficit spending is simply a scheme for the “hidden” confiscation of wealth…. [Gold] stands as a protector of property rights.”
“This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
Alan Greenspan
“ I do not desire to fight. However I will not stand aside and do nothing which is in effect supporting ever expanding tyranny of organized crime in its myriad of guises i.e.; fedguv, fedreserve, irs, patriot act, etc.
I have recognized for quite some time that America is under attack from the inside and is, in fact, at war. Unfortunately most folks just do not realize it yet.
Constitutional America is well worth standing for, regardless the ubiquitous propaganda to the contrary.
Count me in and count me unrelenting! My conscience dictates that I will never give in to tyranny, here now or in the hereafter. I will spread the word. As you say, ‘The Truth is Out There’. Freedom is not only a choice, it is an action!”
Richard Paul
Among the jobs that could easily be outsourced to India are those in government. Most government jobs are useless ‘paper pushing’ anyway. And no group of people pushes paper more uselessly than Indians. The Indian bureaucracy is famous world over for not doing anything… slowly… and at great expense.
Bill Bonner
“Even if you’re on the right track, you’ll get run over if you just sit there.”
Will Rogers
“The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, … I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
“The eyes of our citizens are not sufficiently open to the true cause of our distress. They ascribe them to everything but their true cause, the banking system; a system which if it could do good in any form is yet so certain of leading to abuse as to be utterly incompatible with the public safety and prosperity. I sincerely believe that banking establishments are more dangerous than standing armies… and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
“… we must not let our rulers load us with perpetual debt…If we run into such debts as that we must be taxed in our meat and in our drink, in our necessities and comforts, in our labors and in our amusements, for our callings and our creeds…our people…must come to labor 16 hours in the 24, give the earnings of 15 of these to the government for their debts and daily expenses; and the 16th being insufficient to afford us bread,…We have no time to think, no means of calling the mis-managers to account; but be glad to obtain subsistence by hiring ourselves, to rivet their chains on the necks of our fellow sufferers. Our land holders, too…retaining indeed the title and stewardship of estates called theirs, but held really in trust for the treasury,. . .this is the tendency of all human governments. A departure from principle becomes a precedent for a second; that second for a third; and so on, till the bulk of society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering…And the fore horse of this frightful team is public debt. Taxation follows that, and in it’s train, wretchedness and oppression.”
“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered. I hope we shall crush in its birth the aristocracy of the moneyed corporations which already dare to challenge our Government to a trial of strength and bid defiance to the laws of our country”
“I sincerely believe … that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.”
I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our
rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government
from wasting the labours of the people under the pretense of caring for them, they will be happy.
“The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution.”
Thomas Jefferson
The final revelation about Enron is still not out. That revelation will be that Enron never existed and that it was an OTC derivative factory that created fake profits which attracted real money that was funneled by OTC derivatives to suck out all the funds raised from bond issues and share sales through phony OTC Derivative loses and phony rented partnerships into unnamed international secret bank accounts.
James Sinclair
Government need not be involved in any way to “protectus from ourselves,” or anything else, other than what the Constitution instructs, and that is from foreign invasion. The Constitution, while not perfect, if followed, would disband 90% of the federal government, and make us competitive in the world once again. Don’t blame corporations for jobs disappearing and going overseas. Blame government for making the workplace so expensive and hostile, that it has become virtually impossible to operate, and show a profit. The rules, regulations and 50% taxation, make it certain that jobs will continue to leave. Job training? What jobs can anyone be trained for? Flipping hamburgers? Computer programming and the like can be done in India for a third the price here. Manufacturing can be done in China for a quarter the cost here. What is the solution? The only solution is to make it once again possible to produce things here, and with huge government and taxes, that won’t happen. Government taxes and regulations affect not only manufacturing employees, but utilities, workplace buildings, shipping, office supplies, and the entire labor force. Has a government ever gotten smaller in history, unless there was violent overthrow, or collapse? I don’t think so, because government feeds on itself, and constantly finds other wonderful things to do to protect everyone and tax them to death. This doesn’t count the hidden taxation resulting from debasement of the currency. Just hang on and protect yourself is my only advice. Have a great weekend.
Don Stott
Alan Greenspan and Mickey Mouse led the stock market to new highs yesterday. The world-famous cartoon character deserves most of the credit for the rally… but Mickey Mouse also played an important role.
Eric Fry
“I cannot morally blame all Americans for allowing, for instance, the birth of the Federal Reserve System (a private cartel with full control over the issuance of national debt) and the money destruction that has followed. They are simply ignorant about it and don’t know what happened or what is happening. They think that prices go up rather than that dollars go down. Unsound money imposes an environment of immorality, which in turn makes people behave in different ways for reasons they know not. Sometimes you can blame immorality for the imposition of bad structures (bad people do it with full knowledge of what they are doing), but sometimes it is simply stupidity. People revere democracy, but democracy ends in plunder by the majority. Are people immoral for supporting democracy? I think rather that they lack a deep understanding of its essence. At a very deep level, I would say that the reason such structures are created is due to both a lack of knowledge and a false morality, which in turn is due to a lack of knowledge.”
Bob Prechter
The rich, the owners of the already operating plants, have no particular class interest in the maintenance of free competition. They are opposed to confiscation and expropriation of their fortunes, but their vested interests are rather in favor of measures preventing newcomers from challenging their position. Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow and whose ingenuity will make the life of coming generations more agreeable. They want the way left open to further economic improvements. They are the spokesmen of material progress.
Ludwig von Mises
“The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn’t want to go bankrupt. People must again learn to work, instead of living on public assistance.”
Marcus Tullius Cicero
“… nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the worlds a whole… controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.”
Georgetown professor Dr. Carroll Quigley (Bill Clinton’s mentor while at Georgetown)
I hope you have seen that silly 1989 film, “A Weekend At Bernie’s.” It’s about these two guys who are invited by their boss, Bernie, to spend the weekend at his posh place in the country. When they get there, they discover that Bernie has expired, and no one knows but them. So they prop him up, everyone thinks Bernie is alive, and the weekend goes off OK, with various close misses. Why not make a film called “A Weekend with the Economy?” The economy could be dead, but propped up to make everyone believe it is alive and prosperous. It could be hilarious, if it weren’t so true. Maybe, ” A Weekend with Alan.” Of course Greenspan is still alive, although to be truthful, he does look like an ancient Bernie in the film.
How long, before the citizens realize that wealth cannot be printed? How long, before the masses realize that paying people not to work, to be sick, to take vacations, and be unemployed, is bad economics? How long, will it take the masses to throw the bums out? It will never happen. This is 1924 Germany, in slow motion. Germany was forced by the Treaty of Versailles, (is it a ‘treaty’ when the victims do not sign it?) to pay enormous amounts of their “money,” as reparations for WW I. They simply printed their “money,” by the box car load, to pay what they owed, and after bankrupting an entire nation with unbacked paper money, allowed Hitler to become ruler. America is doing the same thing in slow motion, and we are almost at the end, with the dollar having lost probably 98% of its former value. It has recently lost 25% against other unbacked paper fiat “monies.” But Bernie will be propped up, and everyone will think he is alive…for a while.
Don Stott
“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government ever since the days of Andrew Jackson.”
President Franklin D. Roosevelt
Like a modern day Cyclops with one eye and a stunted brain, our Federal Government now grows fatter and fatter every decade as it corrupts the forces of freedom and the soundness of our money in its lust for hegemony both domestically and internationally. Grunting and belching, regimenting and taxing, spending and consuming with the abandon of a drunken Caesar, this gargantuan beast has, in the span of 90 years, transformed a once productive marvel and manufacturing leader of the world into a decadent debtor nation hell-bent to follow Rome into the dustbin of history.
Nelson Hultberg
In the famous words of the left- Keynesian apostle of ‘functional finance,’ Professor Abba Lerner, there is nothing wrong with the public debt because ‘we owe it to ourselves.’ In those days, at least, conservatives were astute enough to realize that it made an enormous amount of difference whether - slicing through the obfuscatory collective nouns - one is a member of the ‘we’ (the burdened taxpayer) or of the ‘ourselves’ (those living off the proceeds of taxation).
Bill Bonner
“My agency, in promoting the passage of the National Bank Act, was the greatest mistake in my life. It has built up a monopoly which affects every interest in the country. It should be repealed, but before that can be accomplished, the people should be arrayed on one side, and the banks on the other, in a contest such as we have never seen before in this country.”
SALMON P. CHASE, (Lincoln’s Secretary to the Treasury) who was the pilot of the 1863 banking act in the US.
“The point at which gold rises against all currencies, and not only the US$, will mark Phase 2 of this metals bull market, where precious metals will go into an accelerated ascent and the scramble for physical metal and precious metal mining stocks will become truly global. In the case where the Fed commences raising interest rates, initial rate rises are likely to be of the order of 25 basis points. This will have little or no impact on the gold market. If the decline in the US$ is not arrested, more severe interest rate rises will be required, and in rapid succession, to restore confidence. There will come a cross over point where the dollar ceases to fall and the brakes are put on gold’s relentless rise. Where and when this point will come no one can predict. However, it seems pretty obvious that gold will surpass its 1980 peak of US$ 850 per fine ounce with consummate ease. Given the massive US debt position and economic structural imbalances, it is likely that this cross over point will be at interest rates of well over 10%. ”
Bill Bonner
” I….. recommend silver bullion (US$5.30 per ounce) as an investment this month. Silver historically has traded at a 40-to-1 ratio with gold (e.g. it would take 40 ounces of silver to buy an ounce of gold), but today the ratio is 75-to-1, implying that silver is seriously under-priced. In addition, there is a huge supply-demand imbalance, with silver demand far outstripping mine supply.
Above-ground stocks, much of which resulted from the Hunt brothers’ abortive attempt to corner silver in 1979, are rapidly disappearing, and several new intriguing applications for silver are on the horizon. In addition, silver is a small market which has been severely abused by the same paper players who have suppressed gold, and large short positions are being protected with many of the same tricks that have plagued the gold market.
When silver breaks free, I think many people are going to be shocked by how fast and far it goes.”
John Embry
” It is worth noting as you look ahead at prospects for all our gold stocks that politicians in every country tend to cave to demands from grasping constituents who always want the same thing – something for nothing – from an empty pocket.”
James Dale Davidson
” Damn inflation, full speed ahead,” Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.
Bill Gross
” The American economy is sick to the bone from protracted unprecedented household debt growth, an exploding government deficit, unparalleled credit market speculation, asset bubbles, endemic trade deficits, a plunging currency, negative national savings and poor corporate profitability.”
Kurt Richebacher
” . . . we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. . . . This evil institution has impoverished and ruined the people of the United States. . . . Some people think the Federal Reserve Banks are United States Government institutions. They are private credit monopolies which prey upon the people of the United States for the Benefit of themselves and their foreign customers. …”
“The Federal Reserve (Banks) are one of the most corrupt institutions, the world has ever seen. There is not a man, within the sound of my voice, who does not know that this Nation is run by the International Bankers”.
“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of the United States and the people of the United States out of enough money to pay the Nation’s debt…. The wealth of these United States and the working capital have been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare.”
“When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers and industrialists…acting together to enslave the world…Every effort has been made by the Fed to conceal its powers but the truth is–the Fed has usurped the government.”
CONGRESSMAN LOUIS T. McFADDEN and former Chairman of the Committee on Banking and Currency.
“Every lover of his country will therefore be solicitous to find out some speedy remedy for this alarming evil. There is no possible substitute for the loss of commerce. Our first grand object, therefore, it its restoration. I presume not to dictate or direct. It is a subject that will require the deepest deliberations and researches of the wisest and more experienced men in America to fully comprehend. It probably belongs to no one man existing to possess all the qualifications required to trace the course of American commerce through all intricate paths and to those and only those that shall lead the United States to future glory and prosperity I am sanguine in the belief of the possibility that we may one day become a great commercial and flourishing nation. But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them.”
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” (letter to J. Bowen, Rhode Island, Jan. 9, 1787)
“If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash.”
George Washington
” Liberalism is really piecemeal socialism, and socialism always attacks three basic social institutions: religion, the family, and private property. Religion, because it offers a rival authority to the state; the family, because it means a rival loyalty to the state; and property, because it means material independence of the state.”
Joe Sobran
