GREAT, innovative article on Gold, Money, & Banking

 The info in the article at the link below is NOT the standard fare found regarding the title above.  I would venture to guess you haven't heard or seen three-fourths of it anywhere.  It's truly ground-breaking.

 https://steadystate.org/money-and-the-steady-state-economy/

The author, Herman E. Daly, died just recently at 84.  He was a giant in Ecological Economics, & pretty much ignored/suppressed by the Establishment.  One of the reasons for that:  he believed "money" is a public utility, & should not be created out of thin air by private banks (which it is, via fractional reserve banking).

R.I.P., Prof. Daly.

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Not only my opinion.  Be Well

This is the one...THIS IS IT: The Great Simplification!

 Without question, this is the best, most informative description of the ecology of the human species I've seen in the last fifty years.  It clearly & concisely lays out our relationships to Earth, Energy, Economics, Life in general, and all life forms.  Topics include:  the carbon pulse, energy blind, the temporary energy surplus, the human superorganism, money v. wealth, our ecological overshoot, the great simplification, and more.

https://www.thegreatsimplification.com/animations

At the link above, you can watch the full piece (32 minutes), or scroll down a bit for the individual parts/episodes (four of them).  At the very least, watch Part 4 (only 9 minutes).  Below is a link to the full clip on YouTube---

https://www.youtube.com/watch?v=-xr9rIQxwj4

What was, what IS, and what's coming (there are many choices regarding what's coming) in the human story.  If you want valuable insights to the predicament in which we find ourselves, don't miss it. 

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Not only my opinion.  Be Well

Stock Market 101, the Steady State Economy, & the Trophic Theory of Money

 The U.S. Stock Market appears to be on the cusp of a serious decline, perhaps even an outright Crash.  Here's an ecological economics view of the situation---

https://steadystate.org/sell-your-stocks-and-enjoy-the-slide/

Brian Czech is a long-time ecologist in the realms of both wildlife and humans.  He's the Executive Director of the Center for the Advancement of the Steady State Economy.

Here's everything you need to know about the trophic theory of money---

https://royalsoc.org.au/images/pdf/journal/152-1-Czech.pdf

This journal article will make it clear to you why ecological economics is the most reasonable option for attaining a sustainable society, one which is fair, just, and environmentally friendly.  It's a brilliant piece.

.................

Not only my opinion.  Be Well

We Deserve Corporatism, and Notes on Fed Income Taxes, & on Banking

Most Americans today appear to know very little History, Geography, American Government, & Logic, and pretty much zero about the Constitution.  Never mind knowledge of how Propaganda works, or anything at all about Corporatism, or the significance of gerrymandering, or how political candidates really are selected.  And worse, they don't see the relevance of any of it to their lives.  They don't care that they don't know.  But most of them know the really important stuff, such as when the new I-Phone will be coming out and whether or not it will be able to fry eggs, or perform some other mundane or silly function.  The whole situation is an utter disgrace...on all of us.

In this country, we deserve the Corporatist Clinton (both of them), the Corporatist Bush (any of them), the Corporatist Obama (the Fake Populist), and the Corporatist Trump (the doubly Fake Populist)... along with Global Private Rule.  We all deserve it all...because we all have let them (the Elites) get away with egregious, rampant Edward Bernays style Propaganda---the molding of the public mind---and with blatant violations of the U.S. Constitution.

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Notes on Fed Income Taxes & on Banking---

In 1946, the Chairman of the New York Fed Reserve, Beardsley Ruml, presented a paper to some auspicious group or another.  The thesis of his paper was this:  the idea of Fed Income Taxes for government revenue is obsolete.  I don't have the time or energy to explain his reasoning, so if you're interested, Google/Bing the topic.

I do have the time for this much.  A good deal of his reasoning was centered on the central planning of monetary issues by the Fed Reserve, and on the changing of the Gold Standard by FDR.  A fairly recent example of Ruml's thesis is as follows.  Between the times when Congress voted down the 2008 Bailout package for the Mega Banks and then fairly quickly afterward approved it (about $700 billion), the Fed Reserve felt it had to do something, so it made TRILLIONS OF DOLLARS available to the Big Boys in the form of loans at essentially zero percent interest.  Not one cent of those trillions was from taxes.  Nor was any of it from government "savings".  [There are no gov't savings; the National Debt is $20 trillion...an amount impossible to repay in full.]  The Fed simply added a bunch of digits to its balance sheet; it created the "money" out of thin air.  That's entirely possible with a fiat currency.

Banks do it every day.  For example, let's say you deposit $100 into your bank account.  Because of the obscenity known as fractional reserve banking, your bank is required to keep only $10 of that $100 on deposit.  It loans out the other $90 to someone else.  So now, you have $100 on your account and the other person has $90.  That's $190 from your $100..."money" created out of thin air.  This is all possible because only 3% of the "money" in circulation is actual paper or coin.  The rest of it is nothing but digits on a computer.  In a nutshell, that is our goofy "money" system.

The point of all this is:  Ruml was correct; Fed taxes (NOT State & Local taxes) are unnecessary for revenue.  That's especially true ever since Nixon took us completely off the Gold Standard in 1971.  The Fed Gov't never will "run out of money"; to get more, all it has to do is add digits to its balance sheet.  Some people counter this argument by saying that the Fed Reserve doesn't just add to its balance sheet; instead, it buys Bonds (T-Bills)...which means the Fed loans "money" to the Gov't.  Yes, it does that...but it doesn't hand over a wad of cash to the U.S. Treasury.  It simply adds digits to its balance sheet.

Without a Gold Standard to restrain spending, any Gov't with a fiat "money" system can "print" (97% of the currency never gets "printed") as much currency as it needs...and anytime it so desires.  Some people counter that argument by saying:  in such a scenario, people would lose confidence in the Dollar.  Hello!  All around the world, that's exactly what's happening right now.

Finally, during the Reagan Era, the Grace Commission did a two-year study and found that 100% of Fed Income Taxes goes toward paying the interest on our National Debt.  Not one cent goes for Gov't services.  And who gets those interest payments?  Primarily they go to Central Banks around the globe, other Mega Banks, and other Mega Corporations...the really Big Bond Holders.

Not only my opinion.  Be Well

The Economic and Financial Crash is Just Around the Corner

Best guess--- The Crash probably will be anytime before the end of next year.  No one can predict exactly when.

Today I saw an ad for blue jeans; the price of the britches---$60.

In 1961, similar jeans were $3.95...I know because I remember buying a pair for that price in Ft. Collins, Colorado while I was a student at Colorado State U.  [You remember the damnedest things when you get old:]  So, about four dollars versus sixty dollars; to me, that's hyperinflation...it's already here.  It may be a bit anomalous for hyperinflation because of the long span of time involved, but nevertheless, it seems to me it IS the beast.

Decades of monetary policy from the Fed Reserve have reduced the value of the Dollar from 100 cents in 1913 to about 3 or 4 cents today.  They've purposely debased/devalued the Dollar in order to be able to afford the interest payment on our massive National Debt (ever since that Debt doubled or tripled---can't remember which---during the Reagan years).  They can pay it with ever cheaper dollars.  That's why the Fed is always shooting for 2% inflation... per year. 

Imagine what an ounce of gold would be worth if all the beaches of the world consisted of grains of gold instead of grains of sand.  Whenever the amount of some item is increased in the Market, the price/value of each unit of that item goes down.  Through institutionalized deficit spending, the Fed being the main purchaser of T-Bills (monetizing the Debt), and the horrendous QE for the last 8-9 years, the Fed has made the Dollar almost worthless...by creating huge amounts of it out of thin air.  That's why some jeans are $60 now.  That's why the Fed Budget is in the trillions instead of millions or the low billions.  The Dollar is worth less...a lot less.  One even might say that it's almost worthless.  Of course, the Propaganda from the Powers-That-Be says the Dollar is strong.  What that really means is:  it's the best of the worst.  It's the cleanest dirty shirt...and even that characterization is questionable.

The Gov't always can get more "money".  All it has to do is type digits in a computer.  That's what it does when the Fed Reserve buys Bonds/T-Bills.  Actual currency isn't printed up and handed to the Treasury by the Fed; the Fed simply types the amount onto its Balance Sheet.  It never will "run out".  The problem is that the world is fast losing faith in the value of the Dollar.  We all should be, too.  Countries are dumping the Dollar and bypassing the Dollar right & left.  Those Dollars then come home, which means more inflation, but this time it will be much faster than that from 1961 to the present.  International players such as the IMF and Bank of International Settlements already are looking into replacing the Dollar as the world's reserve currency.  Can you blame them?  I think not.

No politician can stop this...it's too late.  We'll survive, but the cost of that survival & recovery will be high.

Don't believe the Elites' current Propaganda.  They're telling bald-faced lies because they're afraid the truth would result in massive panic...including a monumental exodus of capital from the USA.  [To those who think the public & private Powers-That-Be never would lie about such things---please, are you kidding me?  History says otherwise.]

Be Prepared (see previous posts), and Hang in There
p.s.  Your degree of comfort during the real recovery will depend upon your degree of preparation.  And, no, you don't need a bunker & hand grenades; there won't be a massive Mad Max scenario.  The Powers-That-Be would institute Martial Law on a monumental scale before allowing that to happen.

Not only my opinion.  Be Well

The Biggest Bubble of Them All

Please read this piece completely before doing this--- open up a new window on your machine and find:
usdebtclock.org  ...I know, it sounds boring; trust me, it's not.  This is not the old Debt Clock.  This one has many, many categories of both public and private debt...and other important factors.

Take note of the following---

1.  Scroll down to the second to the last line of numbers.  Notice what "Corporation Assets" are doing as compared to "Household Assets".  You have to look carefully and take your time.  Don't focus only on the last digits in the trillions of dollars number; also watch the middle three digits until they change.  Supposedly, this is all in real time.

2.  Go up one line and find "US Debt Held by Foreign Countries"...decreasing relatively rapidly.  They are dumping US dollars.  According to Ron Kirby of Kirby Analytics, the total number of dollars dumped in the last 8-9 months is just a bit shy of one trillion.  Who is "buying" the debt?...probably the Fed Reserve.  That's more monetizing of our debt, which is unsustainable.

3.  Go up two more lines of numbers to "Money Creation" and all the way to the right find "Currency and Credit Derivatives 2016".  Last I looked, the total was well over $478 TRILLION.  That's many, many times more than the entire world's Gross Domestic Product (GDP).  Derivatives are a type of gambling bet.  Given the numbers, all losses could not possibly be covered...which is what happened in 2008.  That's why things like the Bespoke Tranche Opportunity not only are ridiculous, but harmful/dangerous as well.  Furthermore, they drain money from what could have been investments in means of production...the expansion of factories, or new businesses.

For info on the Debt Clock, scroll all the way down and click on "About" over toward the right side.
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On a different note, there's a MUST-SEE documentary on Netflix (and probably elsewhere online):  "Money for Nothing".  It's a partial history of the Fed Reserve, showing how that institution---along with the Administrations of LBJ, Nixon, Carter, Reagan, Clinton, both the Bush men, and Obama---have contributed mightily to the economic ruination of the USA.  Yes, they all did some bit of good for extremely brief times, but overall their policies and actions have brought us economic disaster... unless you're Super-Rich.  If you don't agree, watch the film.

Not only my opinion.  Be Well

Thanks for the Great Response...

to my offer in the post titled, "How to Prepare for the Coming Financial and Economic Crash", dated Monday, September 28, 2015.  Thanks, too, to those of you who later had kind remarks relative to the Guide.  That makes the effort of constructing it worthwhile.
Happy Trails
p.s.  As you probably know by now, I'm fairly certain that the Crash already has started.  It may take a few months or even a year to reach critical mass.  Good luck to us all if my best guess is correct.

How to Prepare for the Coming Financial and Economic Crash

I've written a concise Guide (15 pages, large type) with the title above.  [The Table of Contents is found below.]  Sometimes I copy things I've written elsewhere and post them here.  Unfortunately every time I do that, the copied piece does not paste correctly onto this venue.  To get it readable requires a lot of editing.  Due to time constraints, I can't do that amount of editing for 15 pages; therefore, I'm offering the following alternative.

If you're interested in having a copy, email me and I'll reply with the file attached.  There's no cost to you whatsoever.  This blog doesn't have thousands of readers at any one time, so I should be able to handle any requests.  [In 8.5 years (or so), there have been only about 44,500 pageviews.  I suspect that's because most of my posts irritate both the "Right" and the "Left". :)  UPDATE---as of August, 2016, this blog is at 58,000 pageviews...better, but still puny.]
For a copy, email:  AbstractCowboy@gmail.com .  Title your email:  My Order.

                              Table of Contents

Subject                                             Page

Part I---  Causes

          Brief History of Underlying Factors....1

          Summary of 2007-2008……………..2

          Beyond 2008………………………...3

Part II--- Steps to Prepare

          The Problem with Mega Banks………5

          Will Any Bank be Open?…………….6

Will Paper Money be Any Good?.........7

          Commodities, Tangible Assets………8

          Home Security………………………10

          Barter………………………………..11

          Psychology…………………………..12

          Time…………………………………12

Part III--- Going Forward

The Powers-That-Be…………………14

We the People………………………..14

The subtitle of the Guide is:

A Bit on the Causes,

And

A Lot on How to Weather the Storm

A Very Concise Guide

I'm still of the opinion that a severe Crash may or may not happen, but it seems logical to me (given current conditions) to prepare for one.  Even if it doesn't happen, 99% of the commodities I suggest that you stock up can be used by you & your family in the future.  If the Crash does occur, then you'll be better prepared to handle it than a lot of other people.  Preparing is a win-win situation.  By the way, the Guide is much expanded from my last post...and includes a lot of that post in a small section of the text.  Finally, sometimes emailing a document messes it up for some reason.  I've emailed the Guide twice so far, and both times some of the page numbers (found at the top of each page, not the bottom) were somehow out-of-place; nevertheless, the text was completely readable & the Table of Contents still worked.

Be Well

The Coup in Greece & Why it's Important to You

The new government in Greece was blackmailed by Oligarchs.  The Greek Gov't did not close the banks; it was the European Central Bank that did so.  Imagine if, for example, the Fed Reserve here closed all banks in the USA.  They would be re-opened only if our Gov't agreed to receiving a large loan AND the following:  raising taxes on everyone; cutting SS (which is paid for by every individual over the span of his/her working life); and selling off public infrastructure to mega corporations.  What do you think would happen?  I think our Gov't would cave in to the demands.

Those at the top of the hierarchy in the Euro-Zone, the IMF, Germany (the richest country in Europe), the European Central Bank, various hedge funds, etc. brought about the coup in Greece in order to continue Debt Bubble economies there and throughout the world.  Greece had been mounting what probably is the first democratic challenge in the modern world to the oligarchical, fiat money, central bank, debt bubble, false economic model, and wealth-transfer-to-the-rich SYSTEM.  It will be interesting to see what the Greek Parliament does now.

On Democracy Now tonight, it was pointed out that Goldman Sachs had been involved in a fraudulent way in getting Greece to qualify financially for the Euro-Zone in the first place.  Goldman apparently made a lot of money on the deal.  That was back when, of course, Greece had an entirely different government.  My point is that what's going on doesn't involve only the IMF, the Euro-Zone, the European Central Bank, and Greece.  Other mega banks are also a part of the whole scenario.

So, why should anyone care, especially anyone in the USA?  Here's why---

The situation in Greece is but one example of what's going on around the world relative to Neoliberalism.  Using various institutions (mega banks, other mega corporations, the IMF, the World Bank, the Bank of International Settlements, the WTO, "Free Trade" Agreements, governments, and others) and rampant Edward Bernays style propaganda, Neoliberals are ensuring the continuation of the largest transfer of wealth in history from the poor & middle classes to the super-rich.   Many methods are used, not the least of which is to make certain that everyone everywhere is in massive debt.  [None of this is a "conspiracy"; most all of it is in plain sight.]

Sooner or later, the worldwide Debt Bubble (public & private) will burst.  History shows us that all financial/economic bubbles eventually do so.  I imagine that Oligarchs either have, or are working on, some new system of money and economics.  Once the crash occurs, though, it may take months or more to institute that new system.

Until We the People in every country stop putting faith in deceitful politicians, this all will continue.  That's not pessimism, it's reality.  That means all politicians in all the traditional, major political parties in every country.  They've had their shot for hundreds of years.  In general, they have failed to enable a just and prosperous existence for all of us on a long-term basis.  It continually amazes me that people support these same, old, hack political parties and their dismal records.  They all, and that includes the Democrats in this country, work for the Super-Rich.

Not just my opinion.  Be Well

Oligarchies, Wall Street, Crony Capitalism, and...

much, much more.

At the link below are many legitimate articles exposing Oligarchies, Wall Street, Globalization, the Feds, and Crony Capitalism in general.  Excellent research references...highly recommended...dynamite stuff...genuine antidotes to the Propaganda Kool Aid.  

Not just my opinion.  Be Well 

http://www.globalresearch.ca/author/ellen-brown

Who Owns the Fed? - A Great Scam

http://www.globalresearch.ca/who-owns-the-federal-reserve/10489

This explains one of the greatest scams in American history... in which We the People are being ripped off for the benefit of privately owned banks.  The piece cannot be "skimmed over"; you have to be alert in order to grasp it.  It's a great reference, or source...very legitimate, with impeccable scholarship.

Will Congress make the necessary corrections?...not without pressure.

Not just my opinion.  Be Well

"They" Should Abolish the IRS, and...

just print more money. I ran into a guy in town who said that very thing to me. He had noticed the messages on my cargo van (that are of a Libertarian nature), and so struck up a conversation. I laughed at his comment and replied, "Yeah, out of thin air, like they do now."
He replied, "I'm serious."

I thought about his comments later, and decided that maybe he's onto something. This government of ours long ago abandoned the principles of the Austrian School of Economics, and instead, embraced Keynesian economic thought. The DC dopes do not care one whit that when they increase deficit spending or print money out of thin air, they further devalue the dollar. So, given that philosophy, what's the difference? Just abolish the IRS and print more money.

They don't need the IRS; all they need is a printing press! At least, according to their economic philosophy, that's all they need.

Do a little research when you have time and discover what it is, according to the Constitution, that constitutes "money" in this country. Then realize that the Constitution, the Supreme Law of the Land, has never been amended to accommodate what passes for "money" today. That's because it is much easier to pass a LAW...even if it's unconstitutional...than it is to amend the Constitution. Plus, despite protestations to the contrary, most of our "representatives" in DC consider the Constitution to be an anachronism. They can't be bothered to amend it.

Money and Shifting Economic Theory

"The 'Great Inflation' of the 1970's challenged and permanently altered economic theory. It vindicated the once-controversial analysis of Milton Friedman, then at the University of Chicago...

"In a 1970 lecture, 'The Counterrevolution in Monetary Theory', Mr. Friedman outlined 11 propositions about how monetary policy affects the economy. All were wildly controversial, almost disreputable, at the time. Most are accepted today...

"Today, most macroeconomists also accept Mr. Friedman's most famous proposition -- that inflation is always a monetary phenomenon. Contrary to what I learned in macroeconomics class, 'cost push' inflation was a myth. Pay and price increases did not drive inflation; they reflected it. Americans wanted higher nominal wages and prices to keep up as the real value of each dollar declined.

To combat cost-push inflation, the Nixon administration imposed wage and price controls in 1971. Various controls, notably on energy prices, lingered throughout the 1970's. But inflation did not go away, because all these policies treated the symptom, not the cause." [Emphasis added]
From: http://www.vpostrel.com/articles-speeches/nyt/friedman.html
(A New York Times article)

AND...
"The powers of financial capitalism had a far-reaching plan, 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 world as a whole...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..." [Emphasis added]- Prof. Carroll Quigley, renowned, late Georgetown macro-historian (mentioned by former President Clinton in his first nomination acceptance speech), author of Tragedy & Hope: A History of the World in Our Time (1966).

AND...
"Although much of his trail-blazing work was done on price theory—the theory that explains how prices are determined in individual markets—Friedman is popularly recognized for monetarism. Defying Keynes and most of the academic establishment of the time, Friedman presented evidence to resurrect the quantity theory of money—the idea that the price level is dependent upon the money supply. In 'Studies in the Quantity Theory of Money', published in 1956, Friedman stated that in the long run, increased monetary growth increases prices but has little or no effect on output." [Emphasis added]
From: http://www.econlib.org/library/Enc/bios/Friedman.html