Collectivist Banking

So many Americans believe that the Federal Reserve is a Governmental institution because it has the word Federal in the name. You couldn’t be more wrong. It is a private banking group formed by Woodrow Wilson a Progressive President and it just plays with your money. We have a Federal institution; it is called the U.S. Treasury.

Ron Paul: “The Fed’s Massive Bubble Is Creating A World Of Economic Pain”

There shouldn’t be a Federal Reserve, but it exists, and it’s constantly creating a world of economic pain.?

Each Federal Reserve bubble must turn into a bust. It’s unavoidable.

According to the central planners, the “solution” for the bust is more creation of new money and credit. That’s the only way they can keep their “system” alive.

When the Fed’s stock market bubble burst in 2000, it responded by creating new money and credit. Lo and behold, this led directly to the next bubble that was even bigger.

When the housing bubble burst in 2008, Wall Street was bailed out by taxpayers, and TRILLIONS of new dollars were created as the “solution.”

And now, almost 10 years later, we have an even bigger bubble than 2008.

The central planners at The Fed have done it again.

How much longer will we allow this “system” to last? How much economic pain will it take to return to sound money again?

To understand this one needs to look at currency against the price of a commodity benchmark, usually gold at a given point in time. The best point is when Nixon took the Country off the Gold Standard. Gold was priced around $300USD so we can start there.
Then it took $300 dollars to buy one ounce of gold. (12 troy ounces in a pound) Now gold is selling for close to $1300USD an ounce. Did gold rise up that much or is the dollar worth less (worthless). Loking at this another way, if you have $10 bill and the government prints another $10 bill, is your money worth $20 or worth $10, each bill now worth only $5 each. One way to find out is to try to exchange the dollars for another currency. Then you will find out what they believe the value of the dollar is. We are a debtor nation, like others with a fiat currency. We have nothing to back up the dollar except the “Full Faith and Credit” for what that is worth.
An example of where this financial idiocy terminates, observe Venezuela.

Maduro faces financial nightmare in Venezuela — just in time for Halloween

With its coffers empty and its financial moves restricted by U.S. sanctions, Venezuelan President Nicolás Maduro’s government is facing a nightmarish scenario with the approach of Halloween, when a series of debt payments totaling more than $3.5 billion are due.

Analysts said the government will do everything possible to make the payments, even if it means further cuts in already reduced food imports, which would deepen shortages in a country where a majority of people cannot get three meals a day.

But a default cannot be ruled out because of the precarious state of the country’s finances, the low level of reserves and the reluctance of strategic allies like Russia and China to continue lending money to Venezuela. [snip]

But the government could also decide to suspend all imports of food and medicine, De La Cruz added.

“They have demonstrated that they do not care about the well being of the people if it risks their hold on power,” he said.

The government has averted default in recent months because of timely loans from the Russian government, which so far has always seemed ready to provide the millions of dollars needed by its foundering Latin American ally. [snip]

“The Russians are not very happy,” Dallen said, noting a report in June that Venezuela had failed to make a $1 billion payment due to Moscow.

One billion dollars may not look like much in the United States, but it’s a lot for Russia, said Dallen, who often consults with Washington officials on Venezuelan affairs.

The Russians may well be approaching the point of concluding that continuing to invest in Venezuela is too risky, he added.

These ending ain’t pretty, usually finishing off with lots of gunfire and blood.

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Cognitive dissonance

Tax cuts only

 

benefit big earners

If you aren’t making any money, you aren’t paying any income taxes. Now how in hell can a tax cut affect you? All the clangor and hollering about taxes is nothing but political BS to distract you from the real issue: Those clowns in DC aren’t doing anything to solve the deficit.

If they really want to help the lower and middle classes, they would get rid of the excessive fees and taxes on the phones, Internet, tires, textiles, Federal excise taxes on coffee liquor and tobacco. Get rid of the inheritance (death) tax.

As for the Income Tax, make it a flat 15% on all income including interest and dividends; no deductions for anything. Everybody pays the 15% big earners will pay more. Progressives don’t like it because it is FAIR.

No corporate tax; they don’t pay that anyway, you do. That is passed through to you as a cost of doing business. You pay that tax when you buy the product or service. You get their tax on income from money paid out as wages and not put into the business for expansion. The rest is paid out to stockholders as dividends; that is collected in their taxes.

Can you tell me why this cannot be accomplished? There isn’t any reason except recalcitrance on the part of the likes of Sens. McCain, Corker, Murkowski, Collins and Paul. Why are these individuals reelected again and again?

We know why the Democrats won’t vote to change the system. They don’t believe it is your money.

What’s in your wallet?

Not as much as you think. If you want to know what the value of the dollar is, look at the interest rate you get for it.

Dollar Deepens Dive as Caution on Currency Grows

The dollar was hit by fresh selling in Asian trading Friday, a day after notching a 2½-year low, as reasons for caution on the currency continued to mount.

The Wall Street Journal Dollar Index was off 0.4% in Asia to 84.38, putting it down 9.2% for the year.

Thursday’s 0.7% drop was part of a broader move by investors into haven assets such as gold and government debt—a dollar “capitulation trade,” said Rob Rennie, currency-strategy chief at Australian bank Westpac . It was fueled in part by the European Central Bank, which raised growth forecasts and thus spurred the euro. [snip]

Haven moves are also at play, with rallies in gold and government debt. Gold is at its highest level in a year, topping $1,350 a troy ounce, while there has been broad buying of global sovereign debt in recent days. Yields on 10-year U.K. bond fell back under 1% during Asian trading Friday while yields on 10-year Japanese debt dropped below zero. The market is concerned that North Korea will launch another missile Saturday, when the country celebrates its founding—the occasion for a nuclear-bomb test last year.

“The dollar can’t find any loving at the moment,” said Rodrigo Catril, a foreign-exchange strategist at National Australia Bank in Sydney. Given the unresolved fiscal issues in the U.S.—debt-ceiling measures “kicked down the road again”—and political wrangling between President Trump and his own party, he adds, it isn’t hard to understand why.

Nice of you to share…

…even though you didn’t have much choice.

Equifax Says Cyberattack May Have Hit 143 Million Customers

Equifax Inc. said its systems were struck by a cyberattack that may have affected about 143 million U.S. customers of the credit reporting agency, shedding light on one of the largest and most intrusive breaches in history.

Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers, Equifax said in a statement. Credit card numbers for about 209,000 consumers were also accessed, the company said. Equifax shares dropped more than 8 percent in after-hours trading.

“This is clearly a disappointing event for our company, and one that strikes at the heart of who we are and what we do. I apologize to consumers and our business customers for the concern and frustration this causes,” Chief Executive Officer Richard Smith said.

The company set up a website, www.equifaxsecurity2017.com, that consumers can use to determine whether their information was compromised. It’s also offering free credit-file monitoring and identify-theft protection.

The incident is a stark reminder of the risk of consumers’ personal data being exposed online. It’s particularly worrisome for the millions of people who trust credit-reporting agencies like Equifax to handle and protect their financial information. [snip]

“It’s a huge deal,” said Tim Crosby, senior consultant with security-assessment firm Spohn, “You would expect these guys to have compartmentalized this data far enough away from a Web server — that there would not be any way to directly access it.” [snip]

If you have credit, (who doesn’t) you need to check whether your information has been compromised. Use the link here to find out:
www.equifaxsecurity2017.com You will have to go through the chapcha check to get into it. DO IT! It is your security and money. Oh and by the way, IT’S ALL TRUMP’S FAULT including CA fires and the hurricanes. Why not!

Gold, Silver or Dross

When bankers buy up gold and silver and you have your money in stocks and savings accounts, you should be wondering if you missed a meeting. Obviously, you didn’t get the memo.

Goldman’s Blankfein on Markets: ‘Things Have Been Going Up for Too Long’

Goldman Sachs Group Chairman Lloyd Blankfein on Wednesday sounded a warning about the markets, saying that some of what he sees “unnerves” him.

Mr. Blankfein said the current market environment “doesn’t feel like tulip-bulb-mania,” a reference to the famous speculative bubble in the Netherlands in 1637, but was nonetheless concerning.

“Things have been going up for too long,” he told attendees at a Handelsblatt business conference in Frankfurt. “When yields on corporate bonds are lower than dividends on stocks? That unnerves me.” [snip]

Believe him.

Day by Day

Jewish Humor

Some years ago, Israel’s Finance Minister was charged by the Prime Minister to continue to fund the defence of Israel without raising taxes. Cash was running low after years of struggle.

Desperately, the Finance Minister goes to the IMF and asks for a loan. Naturally, they ask him for some collateral. Inspired, he offers them the Star of David symbol.

The IMF look at it and say to him, “OK, we’ll lend you $1m for it.”

“But it’s priceless,” the Finance Minister protests. “It’s been the symbol of my race for thousands of years and is entirely unique. Don’t you know who I am? I am the Finance Minister of Israel.”

The IMF reply, “When you wish to pawn a Star, makes no difference who you are.”