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Sunday Toon

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Collectivist Banking

Wonder where your money went at 2% inflation?

Inflation is Daylight Robbery…from Rico

Many know John Maynard Keynes as an economist. Virtually all Western economies are now run according to his theories, since all Central Bankers are pupils of Keynesian Economics and that is the ONLY economic theory taught to undergraduates/graduates today.
– Few know that he also fancied himself to be Bolshevik.

In his own words:

“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

If you think Government, Central Banks, or Keynesian economists were your friend, and you’re not in the top 1%, you are mistaken, misled, and/or deluded.

The US Government’s official forecast for the 2018 inflation rate is 2%.
– The inflation rate for 2017 has been declared to be 2%.
– For 2016 the inflation rate was deemed to be 1.26%.

John Williams of SGS Shadowstats calculates the inflation rate using the government formula from the 1980’s…before the USG started using a formula which grossly understates inflation.
– SGS calculates that the inflation rate is currently running at 9.8%, a far cry from the ‘offishul’ 2%.

Look at the price changes from 1996-2016, and decide for yourself who to believe.
– Not that government would “lie” about anything, mind you.

A follow up to Big Spenders

The Central Banks in the EU are working on a special way of dealing with their depositors if another “Grecian Formula” needs to be applied to cover a ‘Bail in’. Oh yes, a bail in is when the depositors get shafted instead of the bank stockholders when the financial markets and the bankers SCREW THE POOCH.

If the interest rates climb here the cost of the national debt will eat into every program this corrupt Congress is running to the point that they won’t be able to collect enough taxes to pay for all the promises. All that money will have to go toward paying the interest on outstanding bonds and T-Bills held by foreign Countries and Americans. Printing more money only worsens the situation, which is what we have been doing since LBJ raped Social Security to pay for the Vietnam War.

This is one reason for the drive toward a cashless society. When they control the money, they control you. It seems so nice to be able to wave your iPhone at the register to pay for that overpriced latte; what happens when the government decides no more lattes or gas, or movies, or steaks, or golf.

ECB – Not paying the piper when the ‘jig’ is up…from Rico

When the proverbial ‘jig’ is up, what does one do?
– Why, you simply change the rules of the game instead of paying the piper, at least that’s what the ECB (EUropean Central Bank) thinks.

With the “bail ins” of banks in Cyprus a now faded memory, and with the ECB essentially ‘broke’ [read: insolvent] it’s apparently time for the financial Ouroboros to consider devouring the little guy instead of itself.
The ECB proposes ending deposit protection [read: changing the rules].

An 08 Nov 2017 ECB document (an excerpt of the 58-pgs attached, it’s a mind-numbing read) considers that “deposits no longer need to be protected.”
– Instead of ‘fixing’ the banking system, the banking system is being ‘rigged’ by the bankers to remove ALL protection of deposits. Say ‘sayonara’ to the Euro 100,000 deposit level currently protected from bank bail-ins.

In MEGO (my eyes glaze over) legal lingo, the ECB is considering that in the event of a bank bail-in, it will (instead of protecting deposits) give depositor’s an “allowance” from their own savings. An allowance they will control.
– And only after a five-day wait period from time of a depositor’s request, they will determine what is an ‘appropriate’ amount of your own money you can access for food, rent, and other expenses.

If you have paid any attention to how the EU responded to BREXIT, or Catalonia, then you should clearly understand that these EU BureauRats could give a rat’s ass about the little people.
– Another time we will discuss the Central Banker’s push to implement a “cashless society” (gee, what could possibly ‘go wrong’ with that?*) while they buy physical Gold for themselves…..

*Think Puerto Rico when the power went out after their latest hurricane, for just one example. [No electricity=no digital money.]

It won’t be just the pooch that gets screwed!

The Millennials

He probably saw an ad for the ‘Lending Tree’ and figured that’s the source of all money.

Seeing where he is standing I doubt he’s long for this world; his political bent tells us that his brain is quite addled. Has anyone asked him what he does when it rains?

Once taboo, socialism finds comrades among US millennials

Lee Carter, who this week won a seat in the Virginia House of Delegates, is part of a growing cadre of young politicians pledging their allegiance to the Democratic Socialists of America

While working as an electrician Lee Carter received a literal shock, through one hand and across the chest, that jolted him into politics and turned him on to what was a dirty word in America for nearly a century: socialism.

His struggle to obtain compensation for the workplace injury inspired him to run for office, and this week Carter ousted a top Republican incumbent to nab a spot in Virginia’s House of Delegates, becoming one of over a dozen unabashed socialists newly elected to US state and municipal seats one year after Donald Trump took the White House.

The 31-year-old former Marine is part of a growing cadre of Americans, particularly millennials, pledging their allegiance to the Democratic Socialists of America, the nation’s fastest growing leftist group that was originally founded in 1982 as a foothold for Marxists.

Riding the wave of democratic socialist Bernie Sanders’s spirited White House bid against primary rival Hillary Clinton, the organization is helping propel socialism out of the shadows.

In the years prior to the Sanders campaign, the DSA’s number of card-carrying members hovered around 6,500 — and has nearly quintupled since 2016’s presidential race to more than 30,000. [snip]

A good guess would say that shock did more than push him into politics. It toasted much of his gray matter to charcoal. The balance of it is only good for collecting trophys for tying his shoes and putting on his underwear first.

It was rather humorous how the Snowflakes all endorsed Trump’s tax plan when they believed it was Bernie’s idea. They were on it like white on rice. They have no historical perspective of what socialism is or what it did to the countries where is was practiced. They think it is some kind of warm fuzzy group thing where everybody shares cocoa, cookies and equality is the norm of the day.

What they need is a one year externship in Venezuela, Greece, Zimbabwe or Cuba. A taste of that cheese would be harsh on the snowflake palate.