Saturday, March 27, 2004
An Enemy Within...
Imagine: an American journalist using his cover for the most prominent paper in the country to inform on and demonize select political critics of the government! The Godfather had his "newspaper friends" on the payroll, and the IRS has theirs: David Cay Johnston.
Read the article here.
I beleive one would be safe to wage a couple of ounces of gold that this fascist was paid with FRN's; Poor sucker! To the Ostracism Matrix with you fool!
Boycott the NY Times
"We are grateful to The Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the work is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries."
-David Rockefeller, founder of the Trilateral Commission, address to The Trilateral Commission, June, 1991.
People for Truth in Taxation
“…In the old days of New York , a small businessman, soon after opening his doors, found a visitor coming soon thereafter. The visitor informed the businessman he must pay this visitor 10% of his revenues henceforth. The businessman responded with a simple question: upon what authority? The visitor responded just as simply: on the authority that you will lose the function of your legs if you don't, due to my use of this baseball bat. They used to call this extortion, Today, they call it the federal income tax. Yet, even the mob didn't demand 40%! And so goes the federal income tax system ö pay or face the coercive power of the state.” (Also, see the Deathbed confession of Jedediah Bartman - Part 4)
Raymond’s blog here.
And Social Insecurity here.
"The system is broken, workers and retirees do not own their benefits and have no legal claim to them."
There is an interesting post over at the Bob Grahm Blog about "what is to become of the perpetrators of the income tax crime?" This post from David Goodyear came to mind. I say put them in computer driven ostracism matrix, and refuse to do business with these individuals. If they won't repent and produce values for society, let them starve to death; or better yet, they might elect to take suicide option. That way, I wouldn't be paying for their incarceration!
At present, considering our judicial system that is corrupt beyond recognition, there is nobody qualified to prosecute these fascists for lack of compensation alone; not to mention the oath of office. None of the judges are paid in lawful money of the united states. They are receiving, and dependant on, compensation from the Federal Reserve Mob, in direct violation of the Constitution, and a whole lot of other crimes such as Section 2381:
Whoever, owing allegiance to the United States, levies war against them or adheres to their enemies, giving them aid and comfort within the United States or elsewhere, is guilty of treason and shall suffer death, or shall be imprisoned not less than five years and fined under this title but not less than $10,000; and shall be incapable of holding any office under the United States.
I sure hope I don't get in trouble for citing the law! And to think, all this they have done for monetary units of no-thing. Worse yet, a "promise" to pay. Perhaps we should give them a free ticket on a slow boat to China.
Claire Wolfe writes: Tax cases are where the conflict is worst. If you got into conflict with AT&T and your only choice was to go to court in which the judges, the building, the bailiffs, and the per diems of the jurors were all paid by AT&T, why would you even imagine you could get an impartial trial? But we're supposed to pretend we can get a fair trial from people who are paid with the very funds that tax avoiders are accused of withholding. (And I'm not just talking about the special IRS courts, which are too weird to be true; but any court funded by tax money -- which is all of them.)
Where do they get the feet to stomp you underfoot if you do not provide them?
In conclusion, and this really made my day, Doug Kenline pointed to this link at Dave Toney's blog for the MP3 audio of Hutton Gibson, author, and father of actor/producer Mel Gibson, about the governments usurpation of unconstitutional powers and how to correct the situation. What Gibson has to say just about covers everything this blog is all about. If most people have given up their minds, as David Ike suggests, then perhaps Hutton Gibson is an "external authority" that people will listen to. I hope this address goes far and wide! The political machinery is broken beyond repair, and must be displaced. The most effective way to do this is at the smallest local level; like Moses did.
Nice work Doug Kenline, and thanks Dave Toney.
"The issue which has swept down the centuries and which will have to be resolved sooner or later is The People v. The Banks." Lord Acton: Lord Chief Justice of England, 1875
A Majority of One
Thursday, March 25, 2004
To quote Russell, “I’m afraid we are coming into one of the worst bear markets in history.” Russell advises his subscribers to hold cash, gold and gold stocks. Gold at $400 an ounce is “as cheap as dirt.” Russell sees gold prices above $1,000 an ounce.”
The race to own real money is just beginning and this super bull market has a long, long, long way to go. For those who want to know why gold prices are heading higher ( besides the mindless spin coming from anchors and analysts), I have listed 7 fundamental reasons why gold and silver are heading higher.....
Read the full article here.
The Decoupling of the US Dollar/ Gold Relationship
Martin's independent market analysis has led him to some startling conclusions about an upcoming global economic collapse, due to what he calls the "Scourge of Bushonomics," or deficit financing on an unprecendented scale of government fraud and malfeasance. ...In other words, the price of gold has risen sharply over the last three years because the value of the US dollar has fallen due to the weight of Bushonian budget deficits.
It's been an interesting week on my blogroll.
David Goodyear linked the Zero Aggression Institute on his blog.
Along the same line, consider The Constitution of the Universe, by Frank Wallace:
The Constitution of the Universe
*The purpose of conscious life is to live creatively, happily, eternally.
*The function of government is to provide the conditions that let individuals fulfill that purpose. The Constitution of the Universe guarantees those conditions by forbidding the use of initiatory force, fraud, or coercion by any person or group against any individual.
No person, group of persons, or government shall initiate force, threat of force, or fraud against any individual's self or property.
Force is morally-and-legally justified only for protection from those who violate Article 1.
No exceptions shall exist for Articles 1 and 2.
David also linked this article on Voluntary Resistance...
At some point it (government) collapses from its own corruption or from its irrelevance to society.
I believe the system is broken beyond repair, and about to pancake into oblivion. We need to return to constutional government because quite frankly, this democracy thing is sucking wind as history repeats itself. Will we ever learn?
Take this job and shove it!
Cherie Goodyear quit China Mart; A good moral decision in my opinion. She advocates we boycott China Mart, and I absolutely recommend doing so. I can’t remember where I got the notion, but it was suggested that all the profits would be funneled into the stock market to prop it up and draw the middle class back in. They’re going for what’s left of the middle class before they crash the market. The wealth doesn’t evaporate, it is simply transferred, and it will all be transferred to China. Also consider refusing to buy anything made in China, from any store. Jeri Lynn Ball writes:
“Just as "the name of American" which belongs to us in our national capacity and which "must always exalt the just pride of patriotism," so should products bearing the label Made in USA, exalt the same pride. Every American who loves this country can refuse to buy products made by nations which are our enemies and which are using our money to build the weapons with which they plan to attack us.”
Wal-Mart and Gold:
What can we say about gold?
It would really take an idiot now not to be able to see the stronger role that gold now plays. Gold’s critics these past two years have secretly been wishing & hoping to see gold crash back down to 250 an ounce, but I have news for these guys.
That just ain’t going to happen.
Fran Tully announces he is running for office...
I am very proud to say that I have been asked to be a "volunteer" speaker at the Opening Dinner in Denver for the Empty Holster Gathering JUNE 19, 2004. There will probably be 600 to 700 people at this dinner of fellow Patriots. The event is planned to kick off the Rick Stanley trial for that week of June 19-26, 2004. Rick and Michael Badnarik have already confirmed that they will be speaking, and several other notable freedom fighters will be asked to speak as well. Other speakers to be invited include Joe Banister, Peter Mancus, Bob Shulz, Devvy Kidd, John Turner, Alex Jones, Aaaron Russo, Irwin Schiff, Ron Paul, L. Neil Smith, Boston T. Party, Angel Shamaya, Erin Zellman, Ken Blanchard, Jack McLamb, Victor Thorne, Lisa Guliani, John Kaminski, Pastor Butch Paugh, Ron Loeber, W. Duke, Michael Caccioppo, Doug "Dayhorse" Campbell and Richard Mack.
Doug Kenline got burglarized and as usual; takes a lickin and keeps on tickin. They didn’t get his blog or his bible, so he’s still locked and loaded!
Larry Topham has a new blog; Lawrence Rey Topham for President - 2004
Dave Toney points to an interestin article at Strike The Root:
The idea there’s a "benefit" to people because a group of men and women provide their "services" on a compulsory basis and this so-called "benefit" then somehow "obligates" people to pay "taxes" is preposterous. That’s how the mob does business.
Could it be that our purported elected officials are actually working for the Mob? Nahh...that would never happen! Guess I'll slide off to work now and produce some values.
What is the Ultimate Resource?
If your not too busy being a "happy idiot" in the struggle for the "legal tender"; monetary units of no-thing, and you can find some “spare time,” you might want to find out why an 80% population reduction and herding us into compact cities is a psychopathic agenda. Debunk here.
BTW - The entire worlds population would fit inside the state of Texas, and each resident would have 6,000 square feet of living space.
A Majority of One
Wednesday, March 24, 2004
Monsanto Co., the manufacturer of rBGH, has influenced U. S. product safety laws permitting the sale of unlabeled rBGH milk. (Monsanto would lose billions of dollars if rBGH were banned in America.)
Why American Milk Banned in Europe?
Cows milk is for baby cows. I don't consider myself part of the "common herd," and gave it up about twelve years ago. I heard it actually causes osteoporosis.
Sunday, March 21, 2004
Slide: A CIA term for a conditioned type of response which dead ends a person's thinking and terminates debate or examination of the topic at hand.
Democracies Always Fall to Gimme Socialism
Vote? A total waste of time, obviously. All leading candidates are vetted by the ruling elite in advance, at all levels of government.
And voting for the lesser of two evils is what gave America George II (that is, if you don’t count the Supreme Court’s role, of course). Remember: the lesser of two evils is still evil.
10 Reasons Not to Vote
1. Reform is the biggest enemy of revolution and the electoral system is the essence of reformism. Voting gives the impression of participation and change, yet it is the backbone of a society based upon alienation and boredom. Voting lures me away from the real task of demolishing existing institutions. In the short term the voter gets token, pacifying reform, and in the long run we get the same electoral repetition, with no significant change.
2. To vote is to accept the limits of my own power. It makes me as powerful (or powerless) as the cross on the ballot-paper. Democracy is the amassed power of several million opinions reduced to a whimpering and stifled cheer for the same masters we’ve had all of our lives.
3. There is nobody who can run my life better than myself. Why then should I give others the power to decide how I should run my life?
4. There are those who would vote, yet still be active in the struggle for real change. They are like vegetarians working in slaughterhouses.
5. Voting is the excuse we need to avoid organizing ourselves, to avoid creating our own alternative. Voting is accepting that the power of the state is preferable to the power of the individual and the power of the community.
6. The weight and force of the blow of a policeman’s truncheon does not change when the truncheon is painted a different color. All democratic institutions are ‘law and order’ institutions.
7. Voting is a clever way of getting me to sign my name to a whole series of measures, when in fact I am only aware of three or four of them. Thus, my vote is my personal approval of every single policy carried out by the party I vote for, without exception. By the time the elected party has spent a year in office, I won’t even recognize the measures I voted for - but I will be subject to the laws and restrictions imposed through each and every decision made by that government.
8. Voting for the lesser of two (or more) evils perpetuates the biggest evil of all: the evil of stasis, a world where all change is superficial. Invariably this means that we eagerly vote in order to grasp the available entertainment of politicians walking tightropes between popularity and personal wealth and comfort.
9. Voting legitimizes not only the system of government we have now, it also legitimizes the pendulum-style inevitability of the electoral process. (No matter how many times you flip the coin, it will never land on it’s edge. The Democrat / Republican Alliance exists in the no-hope land between left and right, and voting for it only strengthens the swinging regularity of the elections). Surely it’s far better to encourage real change - which can only happen outside of government.
10. Voting is slapping a preservation order on corruption, inequality, and mass-manufactured boredom. In short, voting is the blinding of the people, by the people.
I should probably clarify a little more some of my beliefs about freedom and privacy, which all governments detest.
The ongoing erosion of privacy in the world is (or should be), in my mind, the most important issue facing individuals today.
Without privacy, we have nothing, or less than nothing.
Privacy is a human imperative because privacy of self is an important biological necessity of a sane and stable sense of self. It is a scientific fact that a rational person cannot have their autonomous sense of self (their sense of privacy of self) compromised and still function as a healthy individual.
Thinking and creativity require the capacity to make independent judgments. An invasion of our privacy such as that going on in most Western countries today violates that capacity.
It is more than important to reclaim our privacy, it is a biological necessity.
Instead of voting for the lesser of two evils, put your energy into reclaiming and then defending your freedom.
More links to challenge your world view:
Mass UK Mind Control Technology Now A Reality
Great Hoaxes and Conspiracies
WHO ARE THE SEPTEMBER 11 TERRORISTS? By Stefan Grossmann
Targets of the Illuminati and the Committe of 300
Ahh, never mind the links and html, just go here. This is a little more than I can handle on a nice Sunday afternoon. Think I'll do a ten second miracle and go do something productive.
A Majority of One
Slip Sliding Away
Wednesday, March 17, 2004
"Gentlemen, Comrades, do not be concerned about all you hear about glasnost and perestroika and democracy in the coming years. These are primarily for outward consumption. There will be no significant internal change within the Soviet Union, other than for cosmetic purposes. Our purpose is to disarm the Americans and let them fall asleep."
-Mikhail Gorbachev, in addressing the Soviet Politburo in November of 1987
Ezra Taft Benson.....
"The Devil knows that if the Elders of Israel should ever wake up, they could step forth and help preserve freedom and extend the gospel. Therefore, the Devil has concentrated, and to a large extent successfully, in neutralizing much of the priesthood. He has reduced them to sleeping giants."
-Ezra Taft Benson
While serving as Secretary of Agriculture, Benson also met with many world leaders, some of whom left lasting impressions on him. He appreciated the courage of Israel’s David Ben-Gurion and the principled anti-Communist statesmanship of Free China’s Chiang Kai-shek. He was less enthusiastic about meeting Soviet Premier Nikita Khrushchev in 1959, during the Communist dictator’s visit to Washington. Asked by Eisenhower to accompany Khrushchev and his entourage on a tour of a USDA station, Benson agreed with extreme reluctance. He was opposed to bringing the boasting tyrant to the United States at all. "My enthusiasm for the project," he later recorded, "could have been put in a small thimble.... [Khrushchev] has about as much conception of right and wrong as a jungle animal." Nevertheless, he made the most of the occasion, unambiguously spelling out the advantages of freedom in a speech at the Plant Industry building to the Communist dictator and his minions. He recalled: "I told about the way research is conducted and how it is carried to the people through our free press; and how new ideas … are freely available to everyone interested.... Our farmers have transformed American agriculture under our capitalistic free enterprise system.... As I finished I thought, And I hope you get the message."
At one point during Khrushchev’s visit, the Soviet Premier boasted to the Agriculture Secretary that Benson’s own grandchildren would live under Communism. Benson replied tartly that he expected to do all in his power to assure that Khrushchev’s and all other grandchildren would live under freedom. The Communist leader then responded in essence, according to Benson’s personal account: "You Americans are so gullible. No, you won’t accept communism outright, but we’ll keep feeding you small doses of socialism until you’ll finally wake up and find you already have communism."
Ayn Rand - Hymn to Money
Read the whole selection here.
Paper Money Is Mortgage on Wealth That Doesn't Exist
Whenever destroyers appear among men, they start by destroying gold money, for it is man's protection, and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold is an objective value, an equivalent of wealth produced. Paper money is mortgage on wealth that does not exist, backed by guns aimed at those who are expected to produce. Paper money is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: "account overdrawn".
When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and to become fodder for the immoral. Do not expect them to produce when production is punished and looting rewarded. Do not ask who is destroying the world. You are.
Blood, Whips, and Guns - or Gold
Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, men become the tools of men. Blood, whips, and guns - or gold. Take your choice - there is no other - and your time is running out.
Blueprint for a New Gold Coin Standard
Making money was the highest activity of men before looters invaded the nerve-center of capitalism and abolished the gold-reserve requirement for the issuance of Federal Reserve notes in 1968. Ever since "making money" has been the lowest activity of men whereby the savers and producers are fleeced of their substance. Watch for the day when the last meaningful productive job in America is exported to China. On that day American society will become a zoo, and American citizens will be reduced to the station of animals in the cage, totally dependent on the zoo-keeper for food and shelter.
Atlas Shrugged, by Ayn Rand, New York (Random House) 1957, pp 410-415
Jeri Lynn Ball
Eliminate the Sixteenth Amendment because it violates every American's constitutional rights, because an annual, federal income tax is a Marxist tool for the growth of totalitarianism and because it is unconstitutional-in spite of the Sixteenth Amendment. In the April 3, 1995 issue of The New American, Thomas R. Eddlem writes, "Tyrannies impose taxes primarily to transform society or advance social goals, and consider the revenue raised as only a secondary benefit...America's Founding Fathers sought to limit government's manipulation of the individual and the economy and to remove the tax collector from direct contact with the citizen. By 1805 the federal revenue agent was banished to the seashore and limited to collecting taxes on imported goods...The Founders recognized that taxes imposed directly on Americans would provide far more opportunities for both social scheming and inefficient economic dislocation." During Thomas Jefferson's Administration more than 90 percent of federal revenue was generated from the tariff....Today not counting borrowing, 90 percent of federal revenue is derived from income and payroll taxes." William J Gill write "that all the Founding Fathers were Protectionists, that the American Revolution had been fought over trade, that the country had been built on the solid foundation of protecting our industries and agriculture from predatory imports, that the tariff paid the lion's share of the funds for running the government for 125 years-until it was replaced by the income tax..." To pursue the policy of free trade with totalitarian nations, such as Red China, is nothing less than suicidal. In order to save our nation, it is imperative that we return, ad Mr. Gill advocates, "to the sane trade policies established by" the founders of our nation.
By restoring constitutional government and eliminating the unconstitutional controls, regulations, and taxation, we can bring American manufacturing, jobs, and agriculture back to this country. Just as "the name of American" which belongs to us in our national capacity and which "must always exalt the just pride of patriotism," so should products bearing the label Made in USA, exalt the same pride. Every American who loves this country can refuse to buy products made by nations which are our enemies and which are using our money to build the weapons with which they plan to attack us.
Repeal the Federal Reserve Act of 1913 and abolish the Federal Reserve System. In order to take back our culture, we must destroy the communitarian elite's financial power base and liberate the media, the schools, the universities, the churches, and the entertainment industry. To eliminate its power base, it is absolutely vital that we liquidate the Federal Reserve Act of 1913 and abolish the Federal Reserve System.
Reference - Time Bomb, by American Patriots Past and Present, published by American Freedom Press, Copyright 2001 by American Freedom Press, Chico, CA 95927 First Printing: December, 2001.
Outsider's News - The Federal Reserve Banking System
The Federal Reserve controls the flow of money, making it tight and creating unemployment or printing more than actually exists and creates inflation. It is, in essence, a paper corporation, which controls the entire economic well being of the nation. The National Debt is based upon this money, borrowed from the Federal Reserve, which controlling interests are foreign investors. If the Federal Reserve disappeared today and the Federal Government issued it own money, these loans would go away along with their interest payments. When this happens the National Debt ceases to exist along with the need for income taxes.
No Congress or President has been strong enough to stand up to the foreign-controlled Federal Reserve Bank. Yet there is a catch, one that President Kennedy recognized before he was slain. The original deal in 1913 creating the Federal Reserve Bank had a simple back out clause. The investors loaned the United States Government $1 billion. And the back out clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were bought out and dismantled; and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself.
(Yes, Kennedy was printing U.S. Notes that would have eliminated the national debt, but not too many know this little nugget. Johnson wanted to be President, and immediatly burned them...forget about the "conspiracy theories" in the media.)
U.S. Constitution. Article 1, Section 8: "The Congress shall have the Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." Furthermore, "No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts."
And those congresscritters, those not too bright "career politicians," need to brush up on the "Oath of Office" so they understand why it is they are about to loose their jobs!
End the hoax!
Free Dick Simkanin and the Value Procuers
ABOLISH THE FED!
A Majority of One
Tuesday, March 16, 2004
"Argentina may be a difficulty for the Fund and for the financial world, but if you're looking for the really big crisis, look at the United States. A giant crisis is coming there, sooner than most people think. It is now clear, that what has been keeping the system going, is just pumping of liquidity.... The United States is the place to look, for where the really big crisis will hit."
A steadily shrinking labor force has never appeared in any U.S. "post-recession" in 100 years—only in the first years of the Great Depression.
One newsletter published by a senior Republican Party figure reported that Greenspan frankly "fears another great depression," and believes that all that has held off disaster so far "is the exponential growth of credit derivatives" which have "sheltered the banking system from a catastrophic collapse."
Fannie Mae and Freddie Mac have been the huge bellows blowing up the tremendous U.S. real-estate mortgage bubble, which has become both the financial "lifeline" of American households' consumption, and the engine of their ruinous and rapidly increasing indebtedness.
But should one of the mortgage enterprises fail, or be taken over by regulators as Greenspan had mooted, the shock to the super-heated American mortgage bubble would cause an explosion.
Entire article here.
A Majority of One
Wednesday, March 10, 2004
These Federal Reserve Notes are not lawful money within the contemplation of the Constitution of the United States and are null and void. Further, the Notes on their face are not redeemable in Gold or Silver Coin nor is there a fund set aside anywhere for the redemption of said Notes.
BY THE COURT
/s/ Martin V. Mahoney
MARTIN V. MAHONEY
JUSTICE OF THE PEACE
CREDIT RIVER TOWNSHIP
SCOTT COUNTY, MINNESOTA
I am bound by oath to support the Constitution of the United States and laws passed pursuant thereto and the Constitution and Laws of Minnesota not in conflict therewith. (My empahsis) This is an important Case to both parties and involves issues, apparently, not previously decided before. It is also important to the public. The Clerk of the District Court is an officer of the Judicial Branch of the State of Minnesota. His act is the Act of the State. U.S. Constitution, Article I, Section 10 provides "No State Shall make any Thing but Gold and Silver Coin a Tender in Payment of Debts." (My empahsis again) The tender of the two Federal Reserve Notes runs counter to the fundamental Law of the land, the Constitution of the United States of America. It appears on the face of it that the Notes are ineffectual for any purpose and that I am not justified in taking any steps toward the allowance of an Appeal in this case.
Read the entire Notice of Refusal to Allow Appeal here.
That was back in the old days; when he still had a constitution. Remember that?
"Blessed are the children for they shall inherit the National Debt."
...all based on monetary units of no-thing!
A Majority of One
Sunday, March 07, 2004
It is possible to get accurate news about the world, but you have to go hunting for it and the Internet is ideal for that. Concerning the Iraqi War, I have added an Alternative News section to my sidebar. Here is a directory of these websites:
worldwatchdaily.org An excellent source of daily news summaries (sent by email) from a Christian, conservative viewpoint. Highly recommended.
InformationClearinghouse.info for news, commentary and insight that you won't see on CNN.
overthrow.com Quite readable and pretty accurate. Bookmark this one, if nothing else.
aeronautics.ru A Russian GRU source which seems particularly accurate and reliable. Uses Russian reconnaissance satellite imaging extensively. Written and translated daily. Click on "Next Report" until you reach the most recent. Usually updated in the evening, US time.
iraqwar.ru A fairly new Russian site where English is broken but content is good. Be patient and you'll be rewarded with gems of information.
aljazeerah.info English translation of the famous Middle East news organization's internet site. Accused by American media and administration spokesmen of bias and propagandizing, the reporting here appears more in line with independent (European and Russian) reporting than American.
islamonline.net English translation of a Muslim site. Clear pro-Muslim bias, but seems to be closer to independent reporting than American mainstream news sources.
israelnationalnews.com Israel-based site for the Israeli/Jewish take on things. A real eye opener for those who have yet to figure out what Zionism (Jewish supremacism) is about.
globalfire.tv A detailed independent German news site. Expect high anti-American sentiment here.
For a record of current events reported on within the context of biblical prophecy, see cuttingedge and biblebelievers.
larouchepub.com In depth economic and strategic analysis from Executive Intelligence Review, and Lyndon LaRouche, presidential candidate for 2004.
antiwar.com Behind the headlines with Justin Raimondo.
savethemales Exposing feminism and the New World Order.
worldpress.org Provides an unprecedented platform for ideas and opinions on topics of significant international concern.
hoffman-info.com Your source for suppressed information on Judaism's strange gods, secret societies and psychological warfare and radical history.
legitgov.org A multi-partisan activist group established to expose the Bush coup d'etat, and to oppose the Bush occupation in all of its manifestations. Many excellent articles.
truthout.org Excellent articles and independent reviews from William Rivers Pitt, Managing Editor.
Finally, for the American take on things: worldnetdaily, abcnews.go.com or cnn.com. The most professional appearing, by far, but heavily propagandized and distorted for a pro-administration viewpoint. Typical of American mainstream reporting. Best used for contrast to other sources. Read between the lines by using the other sources cited above.
Special Thanks to Michael Haupt - Cambridge, England
A Majority of One
Thursday, March 04, 2004
It could have happened in 2003. It didn't, but I just can't imagine how the facade can continue for long after the November elections. This article (below) is more specific in the details, and ominous in it's outline of what I have seen comming for the last four years, and have
considered was most likely inevitable. Time is running out for these parasitical little embezzlers, so they will have to move fast; before the masses figure out what hit them.
Fed's Folly Will Come Due in 2004
By Peter Eavis
12/30/2003 06:57 AM EST
Led by the Federal Reserve, the world's central banks have spent five years pursuing some of the most reckless monetary policies ever seen in the developed world. Next year, though, their barmy bets will finally start to come undone.
The crackup won't start happening until the end of 2004 -- after George Bush, the market's favorite for president, has been safely re-elected -- but the coming deluge will usher in a period of global economic malaise and dire losses in financial markets.
The fast-declining dollar we see today is an early indicator of the reckoning that Fed Chairman Greenspan has long tried to forestall, using unsustainable measures. America will be the epicenter of the bust, because it is here that debt totals, as well as trade and fiscal deficits, have risen to historically delinquent levels.
Granted, it almost always pays to ignore most apocalyptic-sounding warnings -- and much money has been made over the years betting against the end of the world. Moreover, shrugging off such a dark-sounding forecast would seem to make a lot of sense after most of this column's predictions for 2003 failed to materialize.
For example, Detox confidently expected equity markets would end 2003 lower than they started. But they have of course risen sharply, showing a 22% gain on the S&P 500 index. Detox also said that stocks like General Electric (GE:NYSE) and Capital One (COF:NYSE) would crater, while Tyco (TYC:NYSE) would likely file for bankruptcy protection. None of those calls hit the mark, it is painful to report.
As foul as the freshly baked crow tastes right now, and as much damage as those predictions have done to this column's credibility, Detox is doubling up its bearish bet with its prediction of an economic and financial crunch starting toward the end of 2004. Why? Quite simple: America has no easy way out of the trap that the Fed has built for the country. No nation has splurged quite like this one without ultimately having to pay the piper. As exceptional as America is in so many ways, not even it can exempt itself from the laws of economics. And what's really scary for investors is that there is nowhere else in the developed world to flee.
Morgan Stanley's chief economist Stephen Roach sums up this dilemma. "Central banks have made the riskiest bets in modern history -- policy rates of 'zero' in Japan, 1% in America and 2% in Europe. At the same time, fiscal authorities have upped the ante as never before, with government budget deficits of 7% in Japan, 4% in America and 3% in Europe. And the authorities have colluded in currency management in a period of unprecedented external imbalances."
But America is where things are at their worst. Resurgent equity markets in the U.S. say otherwise. But when governments are printing money like never before, a rise in stocks does not mean that a healthy economic recovery is under way. It just means that people, and their government, have more money to spend -- which is a very different thing.
Higher government and personal spending is what has kept the economy afloat over the past three years. But the logical question to ask is: How did these spenders get the extra dollars to blow? Well, they borrowed them, something that would've been impossible without the low interest rates engineered by the Fed. Debt may feel like wealth when it is being spent. And through the gunning of bank reserves, the Fed can inflate an economy by underwriting higher levels of debt.
But at some point the explosion in credit has to be paid back. The Fed's crazy bet is that the spending will lead to a recovery that will in turn increase personal incomes and taxes to the point where the extra debt taken on over the past five years becomes manageable. But the debt is too high to make this work.
In the second quarter, nonfinancial domestic debt was $21.6 trillion, or 199% of GDP. That's up $3.1 trillion from three years earlier, when the ratio was 181%. There has never been such a rapid rise in that ratio since the mid-80s, and we know what happened at the end of that decade. Some two-thirds of that increase -- over $2 trillion -- occurred among households or individuals. As a result, debt service ratios have climbed to historic highs for individuals, even with extremely low interest rates. It would take only small increases in rates to tip many people into real hardship or default.
The Fed believes it can win this gamble because it thinks it doesn't have to raise interest rates because inflation seems muted. There are two problems with that tack. First off, "real world" inflation does not show up in government statistics followed by the Fed and the markets. For example, the Bureau of Labor Statistics' most recent consumer price index data showed that growth in medical costs was slowing. There is absolutely no indication of that outside of the government numbers.
"There is something very wrong with these inflation numbers," says John Vail, a strategist for Mizuho Securities in New York.
Second, and much more important, anyone who thinks a central bank can splurge and underwrite towering levels of debt just because inflation is low has no understanding of how economies work over time. Excessive borrowing leads to the extensive distortion of prices and productive capacity.
Without the growth in debt and consumption fueled by Greenspan over the past three years, we would have had deflation. Why? The monetary excesses of the '90s had pushed up prices to excessive levels and the economy tried to adjust to bring prices down to affordable levels. The Fed did everything to prevent that, because deflation would've caused debt totals to grow in inflation-adjusted terms, creating a big credit crunch. Greenspan's solution? Create more debt in the hope it will cause another boom that will bail us all out.
"The Fed has tried to paper over the imbalances in the economy," says Paul Kasriel, economist at Northern Trust. "It has encouraged households to go deeper into debt."
Notably, central banks sitting outside of the Bank of Japan/European Central Bank/Fed axis have seen the danger of this approach. In press releases explaining why they have recently hiked rates, the Bank of England and the Reserve Bank of Australia both have alluded to credit growth.
Because of America's higher debt levels, the Fed doesn't have the luxury of practicing orthodox, sound central banking, and that is why Greenspan can say in the Fed's most recent communication on interest rates that "policy accommodation can be maintained for a considerable period."
Ball of Yarn
So how does the unraveling actually happen in 2004? The illusion of health will continue through most of the year. Bush will get his second term, elating markets for a short spell. Then the full size of the bills that must be paid will begin to really scare people.
But it's a job to know what will go wrong first when a patient is unhealthy in so many ways. It's clear that the breakdown will happen when interest rates go up. That will worsen debt burdens, causing forced sales in the housing market and a crash in that sector. Consumer spending will also get hit. Companies will not pick up the slack.
So what could cause a rise in rates? Perhaps a plunging dollar -- Detox expects $1.45 to the euro by year-end 2004 -- could force interest rates up. The government budget deficit could come in way worse than expected, and the bond market could play a big role in pushing up market rates with such force that the Fed has to follow. There could be an unexpected rise in inflation, due to the amount of money pumped into the economy. It may even be a corporate scandal.
In 2004, the problems at Fannie Mae (FNM:NYSE) , the government-sponsored company that is the backbone of the U.S. housing sector, finally could come to the fore.
It may be another terrorist strike within American borders. Indeed, through its monetary madness, the Fed has made the American economy all the more vulnerable, in the event of an attack.
So where will the indexes end up at the end of 2004? Well, equity markets will be very buoyant for most the year, and then dip only slightly. The S&P 500 will end the year up 15%, around 1,250. The Nasdaq will jump over 20% to around 2350. But enjoy the increases while you can, because those levels won't be seen again for several years.
And the probability that Greenspan gets us out of this mess unscathed? About 5%. The argument from the bulls is that America had similar economic imbalances in the 1980s and emerged healthier. Sorry, bad history. First, Bush isn't cutting taxes to the degree that Reagan did, nor is he pruning back nondefense public spending, as Reagan did.
The Cato Institute recently pointed out that discretionary nondefense spending slumped 13.5% in Reagan's first three years vs. a stunning 20.8% increase under the current president. The current account deficit was never this large in the '80s, so there could be a steeper decline in the dollar.
Detox, gloomy from the start, has never been gloomier.
While I can agree the above scenerio, I don't actually consider it to be a "folly." I believe it was a well ececuted plan.
BTW...George Bush has already won the election. It was a landslide. (A little bird told me so) The bad news is the illuminati don't like the man, and want him out of their way. (A big bird told me so) Where does that leave us.... with Dick Cheney?
A Majority of One