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Historical happenings

10/20/1818 ~ The United States and Britain establish the 49th Parallel as the boundary between Canada and the United States.

10/20/1903 ~ The Joint Commission, set up on January 24 by Great Britain and the United States to arbitrate the disputed Alaskan boundary, rules in favor of the United States. The deciding vote is Britain’s, which embitters Canada. The United States gains ports on the panhandle coast of Alaska.

10/20/1973 ~ Arab oil-producing nations ban oil exports to the United States following the outbreak of the Arab-Israeli war.

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Ponder this

There are many men of principle in both parties in America, but there is no party of principle.

~ Alexis de Tocqueville

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.

Ponder this

The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.

~ Alexis de Tocqueville

TANSTAAFL

The wild and woolly shouting matches occurring in DC are nothing more than the last grunts of the GOPe. Bannon was right to get out of the White House; he can raise more hell from the outside and put as stake through the black heart of the RINO Senate.

This maneuver by Bannon at this time puts the GOPe is a bind. Those wishing not to vote on Trump’s agenda of immigration, tax cuts and ObamaCare are going to be faces with the primary season opponents who will support Trump’s agenda. The voters want it; the GOPe know this so this push into the small corner where they have to fish or cut bait is going to be highly amusing to the electorate in November this year.
What you are seeing and hearing is the call for the formation of a new Party, a third party to take the place of moribund GOP.

Bannon Declares War On GOP Establishment: “We’re Coming After All Of Them And We’re Going To Win”

On Monday’s edition of Hannity, Breitbart executive chairman and former Trump adviser Steve Bannon talked about his plan to challenge every Republican Senator up for re-election in 2018 in the primary, except Sen. Ted Cruz. Bannon said Republican incumbents have committed “economic hate crimes” against the “forgotten man.”

Bannon said he is declaring “war” on the Republican establishment and those that don’t back what President Trump ran on. He said there is a “new game in town” and promised to “cut off the oxygen” to Senate Majority Leader Mitch McConnell and stop his fundraising for establishment candidates. Bannon said any person running for the Senate in 2018 that wants his support must oppose McConnell as the Republican Leader.

The Breitbart chief gave a warning to all incumbents: “Just voting is not good enough. You have to have a sense of urgency. Nobody is safe. We are coming after all of them and we’re going to win.” [snip]

Bannon on the coalition to go after the Republican establishment:

BANNON: They have to understand. There’s a basic agenda that President Trump rand on and won. He carried states that Republicans haven’t carried in living memory — Michigan, Wisconsin, Pennsylvania. This agenda works. The American people voted for it. It’s their responsibility.

By the way, McConnell would not be Majority Leader unless Trump won in North Carolina and Missouri and Wisconsin was able to carry those Senators across the finish line. It is incumbent upon them to back President Trump’s plan but you don’t see it.

Once you saw what Corker said today, it’s what they talk about. That’s why I left the White House. Remember, I said I’m going after the Republican establishment. And we’re going to go after them. We’re going to go after them and challenge them.

HANNITY: Give me the states.

BANNON: There’s a coalition coming together. It’s going to challenge every Republican incumbent except for Ted Cruz. Whether it’s Utah, Wyoming, whether it’s in Oregon.

HANNITY: Orrin Hatch in Utah.

BANNON: Orrin Hatch in Utah. Today, Boyd Matheson, who is the chief of staff for Mike Lee came out and said he’s going to set up and an exploratory committee.

HANNITY: North Dakota.

BANNON: In North Dakota we don’t have that…

By the way, we’re going in Mississippi against Wicker.

HANNITY: Who are you going to pick? McDaniel?

BANNON: McDaniel in Mississippi.

These names are all going to come out in the next several weeks.

[Kansas Senator Jerry] Moran. [Orrin] Hatch in Utah. The chief of staff for Mike Lee said he will set up an exploratory committee. In North Dakota. In Mississippi.