by Peter Schiff, president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets
Ayn Rand wrote, “when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.”
America is not doomed, but the fellows in Washington are pushing for that outcome. It seems that all the characters that encouraged this financial crisis are being rewarded, and Ben Bernanke’s re-nomination is no exception to this rule. He was on the Board of Governors when Alan Greenspan grew our bubble economy. Known as ‘Helicopter Ben,’ Bernanke was the most vocal supporter of low interest rates to combat the bogus threat of deflation, even if it meant dropping cash from helicopters. He succeeded in his aim – as it is hard for prices to decline while the money supply is growing by double digits.
Of course, much of that new money went into speculative bubbles, first in tech and then real estate. When the misallocation became too great to ignore, the credit markets froze and leveraged institutions started failing. Now, Bernanke says that he doesn’t want to preside over another Great Depression. That doesn’t mean he doesn’t want another Great Depression; he just doesn’t want to preside over it. His plan seems to be continuing to print money so that the depression isn’t apparent until after he leaves office. However, while Greenspan was able to get out of Dodge, Bernanke will probably not be so lucky, as his reappointment virtually guarantees that he will be in the middle of the action when the bullets start to fly. Left to clean up his own mess, Bernanke will soon regret not quitting while the going was good.
A professor teaching a computer security class I had in college stood up in front of the class one day and said, “Today we are going to discuss the salami attack or salami slicing. Does anyone know what a salami attack is?” I laughed at the juvenile thoughts that entered my mind. In my college-aged stupor little did I know it was the perfect term for what the United States has been experiencing since the early 20th century.
Salami slicing is a series of many minor actions, often performed by clandestine means, that together results in a larger action that would be difficult or illegal to perform at once.
Today Obama is taking it to new levels. He’s acting like the proverbial kid in a candy store or perhaps saying he’s like a fat man at a deli counter is more appropriate. Our government has been salami slicing it’s way toward a socialist and fascist hybrid I call socio-fascism for the last 100 years or so. Certain administrations were worse than others, but it’s not too hard to believe that the Obama Presidency will go down in history as the one that signaled the final slice in the socio-fascist incrementalism pie.
For America to turn the corner and get “better” things are going to have to get a lot worse. People are still dreaming of government-sponsored comfort and Obama is doing his best to deliver. Government words and statistics are attempting to mask the hard economic pain reverberating through America. We need to see beyond this feel-good facade and find the truth.
We are a spoiled-rotten coddled nation of eternal victims with a codependency on government. Government is an abusive spouse who promises unicorns but only ever delivers blunt trauma to the head.
Perhaps the turn-around will come when the “green shoots” become nothing more than “green shits”, when everyone realizes the government is the source of the problem rather than the solution.
At no point would I vote for limits of any sort on the right to bear arms as a federal congressman. There is simply no authorization in the Constitution that delegates this power from the people and the states to United States Congress. States and localities can decide details for themselves based on state constitutions, local preferences and the US constitution, which is the supreme law of the land.
As for my personal view, I have spent several years of my life in China, which bans guns, and this changed how I personally view this issue. There are four exceptions to China’s rule, and the first three naturally belong to the State. The power to use force against citizens is retained by the armed forces, the police, and the banks’ security personnel who transfer the paper currency.
But today we need to focus on two other numbers — registrations and letters to Congress. To exceed what we did last month we need . . .
* 1,173 of our new members to send their first letter to Congress
* 19,918 additional letters to Congress
Let’s take these goals in order . . .
Because personalized recruitment works so well the Dispatch now has many more readers than a month ago. But some of our new members haven’t yet registered to use our Educate the Powerful SystemSM. If you haven’t sent your first letter to Congress, could you do so today?
Registration provides the information your representatives need to confirm that you’re a constituent. You only have to do it once. Then it will take just a few mouse clicks and keyboard strokes to send future letters to Congress. Choose one of the campaigns listed below to register and send your first letter.
Letters to Congress
Congress is still in recess, but they’re coming back soon. Let’s be a “Welcome Back Committee,” and give them much to ponder when they return. It’s important to remember . . .
A few weeks ago a new match-making site for freedom-loving people called Ron Paul Singles was in the news. Some news outlets used it as another opportunity to marginalize Ron Paul. Others seemed genuinely curious about how a 70+ year old politician’s name could play cupid.
While this rather unimportant news item was brought up on CNN and other outlets another type of “date” was swept under the rug because if it became common knowledge the health care debate may be quite different. Admittedly, I went for a low-brow ridiculous play on words to get to my point but here it is:
In many states there are requirements (mandates) that force private health insurance companies to pay for certain procedures.
Those on the Right complaining of socialized medicine don’t realize that we already have socialized medicine. Those on the Left defending the so-called “public option” don’t realize how much money can be saved by simply abolishing health care mandates. Doing so would help restore the free market in health care and help lower costs.
I’m tired of both sides of the debate missing the fundamental point. The Left and the Right need to realize we haven’t had a free market in health care for approximately 30-40 years.
The health care system is broken and needs “fixing”. The government does not have the answer. On health care the government should not lead, it should not follow, it should just get the hell out of the way!
There is no such thing as a government solution. The government only causes more problems.
To understand how ridding ourselves of health care mandates can reduce health care costs please watch Shelly Roche (bytestyle.tv) give details in the video below. This is the kind of information people need to hear when they accuse others of “just complaining and not offering solutions”.
“The two parties should be almost identical so that the American people can “throw the rascals out” at any election without leading to any profound or extensive shifts in policy.” – Carroll Quigley, from Tragedy and Hope
As I travel around and meet people as part of my run for U.S. Congress next year, one of the first questions I am most frequently asked is: “Are you a Democrat or a Republican?” Of course, I politely answer I am running as a private citizen, and explain why I am dissatisfied with both parties. Pretty much everyone I talk to understands my reasoning, even if they think running without a party is fruitless. All too often, I hear in reply defensive answers such as “Well, I am a registered ____ just because I want to vote in the primaries.”
Some people don’t stop there though. Multiple times I have been asked why I don’t spin off and start my own party. The first time I was asked this I was caught aback, as I had never even considered it. It is, of course, dreadfully apparent that the Republicrats ruthlessly control politics in the United States. Third parties, whom I wish all the luck in the world, have not been able to break their chokehold.
Jake Towne and Clyde Cleveland, author of Common Sense Revisited, start their August 15 interview by discussing the Obamacare health care bill, discuss the Republican plan, fractional reserve banking, and the Jake’s Open Office plan. In Part 1+2, we discuss health care, Part 3 Fractional Reserve Banking and non-existent Reserve Requirements. In the last part, I promote the Open Office.
Playlist links if there is an issue with the videos HERE. Since I started doing live interviews back in May, I’ve come a long way but still have further to go like working in soundbites and keeping my answers shorter, but I am making steady progress. It’s also a bit tougher since I am trying my best to give honest and accurate answers every time.
by Peter Schiff, president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets
After having given away billions faster than even the optimists had anticipated, it was announced today that the federal government’s “Cash for Clunkers” program is coming to an early end. But, based on the standards of economic analysis which prevail in Washington, Wall Street and academia, the program must be considered a master stroke of public policy. These experts will tell you that by mandating that citizens destroy older (but still working) vehicles to receive $4,500 toward the purchase of a new car, the program not only revved up the economy by encouraging Americans to borrow more, but it may have, perhaps, made some great strides in saving the planet by reducing carbon emissions.
With this solid win-win now on the books, the time has come to put the strategy to work in other areas. For instance, the government could use these lessons learned to help the moribund housing sector. I propose the “Dough for Dumps” stimulus program. Here’s how it would work:
Homeowners struggling to make payments on environmentally inefficient homes can apply for government aid to destroy their old homes and receive guaranteed loans to buy newly constructed houses, provided they are furnished with the latest “green” advancements in energy systems and building materials. As with the “Cash for Clunkers” program, this plan would solve many problems at once.
First, it will help put a floor under falling home prices by reducing the glut of houses currently on the market. The best way to stop prices from falling, and thereby reduce the foreclosure wave, is to reduce supply.
Left alone, the market would do this by lowering prices, which would bring more buyers into the market. But this approach falls on the back of homeowners whose only crime was to overpay for a house. A more socially equitable method would be for all taxpayers to shoulder the burden through a government bulldozing program.
In addition to contracting the supply of homes, the program would also stimulate the economy by providing funds to hire environmentally savvy builders and contractors (not to mention the workers needed to demolish the old homes). The resulting demand would help to reduce unemployment, especially in the housing sector. Government incentives and subsidies could also give an important boost to the developers and manufacturers of “green” windows, solar heating systems, furnaces and water systems.
Once this program has rejuvenated the real estate market, citizens should also be encouraged to burn their old furniture and clothing, thereby sparking demand for new goods from our nation’s struggling retailers. When you think about it, the possibilities are endless.
Long live the liberty revolution! Yesterday, which ended a few minutes ago saw Rand Paul raise $433,509.00in a single day for his run for U.S. Senate to represent Kentucky.
This is HUGE! Trey Grayson should be worried. This gives his campaign a total of over $667k, about two-thirds of which was raised in the last 24 hours. The current total can always be seen at RandPaul2010.com.
Hopefully this fund raising success receives some publicity both in Kentucky and nationally.
Congratulations Rand on a successful money bomb on your father’s birthday!