Hat Tip FOFOA:
I've posted up several articles in the past regarding Lindsey Williams( Link).
Summary: Lindsey is a well-connected Pastor who, back when Oil was $140 a barrel, accurately predicted that it would be crushed back to $50 a Barrel - through massive gvt manipulation - a successful attempt at waging economic warfare against Arab/OPEC countries who were becoming too strong.
Anyway, Lindsay Williams evidently did another radio interview recently - explaining what we can expect to see over the next 12 months - and this guy "Tom" over at HenryMakow.com wrote a very good post about it.
I'll extract some of the major highlights and then leave you a link to read it in its entirety (recommended).
Major Highlights:
1. The reason why the "elite" dropped the world price of oil down below $50.00 a barrel was to wage economic warfare against the Arab/ OPEC countries. "They" seek to bankrupt OPEC countries., especially the Iranians by cutting their revenues more than 75%. (Do you think that is why Mr. Chavez is so belligerent towards the USA?) Why would they do that? Because Iran and the other OPEC states are getting too strong and too wealthy. The Iranians are running an oil bourse, that effectively sidesteps the oil markets of New York and London. (My note. Even worse they are trading oil not for dollars but for other currencies such as the Euro. This is a direct threat to the western banking system.) According to Williams, this will not be allowed to continue. This is about control!! "What is happening today has been planned for years and there are other more nefarious motives, which will be outlined below.
2. The world reserve currency is the dollar and dollar denominated assets such as U.S. Treasury Debt. The Arabs have been recycling their petro dollars into U.S. Treasury debt for thirty five years. (My comment. The Arabs/OPEC have been financing our national debt. This is per agreement with the New York Banking establishment, and the U.S. Treasury. This arrangement has been part of the world order since the collapse of the Bretton Wood Agreement in 1971. This is now coming to an end.) Now that they are being bankrupted (intentionally) the OPEC/Arab states are no longer willing or able to buy Treasury Debt. Hence, the interest on the National Debt (which now exceeds 15 Trillion dollars?) is not being financed by foreign creditors. China, India and other Asian states are doing the same thing. "They are running from dollar denominated assets." Therefore, the Federal Reserve is now buying up all the Treasury Debt issued by the U.S. Treasury to cover the debt maintenance on the national debt. (My Comment: this is called monetization and it is highly inflationary.) (My note: to put this in perspective, the so-called bailout, which was really nothing but a heist without the guns, in the amount of 700 billion dollars, was actually in the amount of 8.5 trillion dollars. All of this sum represents more debt "created" by the Federal Reserve which is then added to the National Debt. In addition to being extremely inflationary, we will be paying interest ("tribute?") on this debt to the banksters in perpetuity.)
3. Gold and Oil generally move in tandem i.e., when oil goes up, so does gold. This has not been the case since the oil market collapsed. Gold has shown huge relative strength to the price of oil. Because of intense world wide demand and speculation the relationship between gold and oil will no longer continue. Gold will now move independently of oil.
4. This year, 2009, the USA will face total financial collapse. The dollar will also collapse in value, and it will take years for the U.S.A. to recover.
5. OPEC has been cutting production steadily but they cannot influence the supply of oil enough to affect the world price.
6. Pastor Lindsey said that the Papacy and the Jesuits had nothing to do with what was going on.
7. He said we have more than enough oil in the USA for our own needs, but the so-called "elite" as he calls them have no intention of EVER developing a major oil field in the continental U.S. or Alaska. "They" will not allow this country to become energy independent, and they intend to continue to keep us dependent on foreign oil sources. (My note: Dependency is another world for control.) Later he mentioned the field just disclosed by the USGS which is located in Montana and N. Dakota. (This I believe is the Bakken Field.) He said that it contains 320 billion barrels which is only 10% of the reserves. This oil is worth about 15 trillion dollars. (My note: in others words the 300 BB is the easy oil. It's the oil that will flow out of the ground under its own pressure. That means total reserves of this one field using secondary and tertiary recovery techniques are probably near three trillion barrels. To put that in perspective the Saudis have reserves of about 260 Billion barrels.) One of the senators from Montana has been screaming about this to Congress. He has been totally ignored by both Congress and the media.
8. Regarding Obama. "It did not matter who won the election." The handlers around Obama are, for the most part, members of the Council on Foreign Relations. "The elite." "The globalists." They are essentially the same people who ran the Clinton administration and both Bush Administrations. "There will be absolutely no change in either our domestic or foreign policy. (My note: the people who have looted this country will continue to loot this country.) Regarding economic policies "Obama" will be another Hoover." In other words Obama will follow orders and will take the fall for the economic calamity that is about to unfold. (My note: Obama is another feckless, empty suit, who was selected, trained, groomed, packaged and sold to a gullible, naive and lazy American public.)
9. Because of the tremendous cut in revenue to the Arab states (75%.) Dubai will become a "wasteland." Already they have suspended all construction on major buildings in Dubai. "There will be no change in the future. "
10. All of the Arab states are sliding into a depression. Their budget planning is based upon $80.00 oil, so they are cutting their expenditures dramatically----especially infrastructure and public works.
11. In addition to no longer buying our treasury debt, the Arab/OPEC states are now actively selling what treasury debt they hold. This is also occurring throughout Asia, especially China. This of course amounts to Trillions of dollars of Treasury debt etc. (My Note: if the Fed is now monitizing these debt instruments, which they must surely do since they are the buyer of last resort, this will also be highly inflationary.) The Arabs/OPEC/Asia are converting their dollars and dollar denominated assets to gold and other hard assets.
12. The long term goal of "these people" is to control and own everything. "They intend to break us." (My comment: Geeeez. I am confused. Here, all along, I have been told by the media that our enemies are in the Middle East.)
13. Gasoline will remain at approximately $1.50 per gallon for the next year to a year and half. This is killing the State government gas tax revenues. Total, state tax revenues are collapsing. Expect many states to go bankrupt----especially California.
14. "They" intend to control the world price of oil by dumping massive amounts of oil on the market to keep the price down. They intend to use, among other sources, an oil field in Indonesia that "they" just brought "on line." This field has reserves of more than 300 billion barrels. He also mentioned another field in northern Russia.
15. The ultimate objective is to "destroy the USA." At the same time "they" seek to consolidate control over all assets of any significance. "They" already own and control, the banks, and the media. (My note: Williams did not say, but obviously, they also control the oil industry.) "They" intend to gain control of the entire auto industry. According to Williams "why not buy the auto industry? All they need to do is create the credit in a computer entry." The takeover of the auto industry will happen when the time is right. They also seek control of all the real estate that is worth owning. According to pastor Williams, everyone is going to be paying rent by the time this thing is over. Again he emphasized that "After years of collapse they intend to own everything."
16. Russia is a major world power. Tensions will increase between the west and Russia. Look for a return of the cold war. (My note: he did not say it but I got the feeling that the Russians are not anxious to become part of the New World Order. Of course this oil price suppression is really hurting the Russians. They have had to devalue the Ruble seven times.)
17. "There will be no attack on Iran. There will no war with Iran." "The American people will not stand for it." They intend to accomplish their goal of destroying Iran by economic means. "They will accomplish their goal of destroying Iran without the need of another 911 false flag operation."
18. "Within six to nine months we will be into full blown hyper inflation." "Buy everything you need right NOW!!!!" "Prepare your dinner table NOW! It is going to be 1933 all over again."
19. "The nations of the world, especially China, are dumping U.S. currency and buying gold.
20. "The reason why it is getting so hard for people to buy gold is that "they" do not want people to be able to protect themselves." "They don't want people to have something that is REAL." (My note: it's hard to find any significant quantities of gold anywhere. Silver too!)
21. "They fear people buying gold because it is something "they" can NOT control. They feel that only they, the elite, should own gold.""They regard it as real money."
22. Their greatest fear is that the people will "wake up" from their slumber. "In fact they are terrified." They do not intend to impose martial law. They believe this would cause an armed revolution and that they do not want. Hmmmm. (I guess that is why the founders included the Second Amendment in the Constitution.) "A revolution means they could lose control."
23. "The American people are terrified of Obama." "The day after the election the gun shops in the USA were emptied by alarmed and frightened citizens." "Wal Mart reported that the day after the election their sales of ammunition went up by 400%. It was a record for ammunition sales in a twenty four hour period. (My note: this continued for several weeks after the election.) Evidently this behavior caused a great deal of alarm.
24. "They" have given up on implementing the North American Union and are "going all the way." The goal is total global control of everything. Global Government. Global bank. Global Currency. Etc. (My note: this NWO globalism business has always included a global army, and a global religion. I am sure we will be hearing more about global religion from "Americas pastor," Rick Warren)
Pastor Williams was asked what can we do? He made some suggestion which are not surprising. They are:
Link to full article
Saturday, January 17, 2009
Friday, January 16, 2009
Bank Crisis II beginning NOW
I subscribe to the Martin Weiss, Money and Markets newsletter and receive free daily emails full of great information you won't get from the mainstream. Give it a shot - the daily reports are free!
Anyway, I wanted to share the email (below) that I received in my inbox today - reinforcing what many of us already know and/or feel, but that which we fail to hear from the many talking heads in the media.
BREAKING NEWS:
Bank of America posts massive $1.79 billion loss in last three months of 2008 ... slashes dividends ... accepts $138 billion emergency lifeline ...
Citigroup reports total losses of $18.7 billion in 2008 — $8.29 billion in the fourth quarter ALONE ...
New phase of bank crisis beginning ... soaring unemployment, plunging stocks, canceled dividends, and sinking investment income ahead ...
FREE VIDEO BRIEFING — “7 Startling Forecasts for 2009” — to help you survive ... and to help keep money flowing to you no matter how much worse this great financial famine becomes — CLICK THIS LINK to watch it now!
Dear Subscriber,
Just when everyone thought we’d seen the worst of the carnage in the U.S. banking system ...
Despite the $350 billion in TARP funds Washington already spent to save the big banks ...
Despite Treasury Secretary Paulson’s emphatic assurance to CNBC’s Maria Bartiromo that the banks are no longer in danger just a few days ago ...
And regardless of the $138 billion ADDITIONAL lifeline he’s just been forced to throw Bank of America yesterday ...
A new, more virulent strain of the bank panic contagion is now hitting Wall Street!
Just this morning, Bank of America posted its first loss in 17 years — a whopping $1.7 billion in October, November and December — and cut the dividend it pays to stockholders.
Plus, Citigroup, which had already received $45 billion in government handouts, posted its fifth straight multi-billion dollar quarterly loss — $8.3 billion in the last three months of 2008, bringing its total losses for the year to a staggering $18.7 billion!
No wonder Obama’s advisers have freely admitted that they see an increasingly grave banking crisis beginning to unfold! No wonder they have scrambled to gain control over the second $350 billion in bailout funds! And no wonder ...
The Great Financial Famine of 2009 Is Spreading Like Wildfire!
After the prior phase of this great banking crisis struck last fall, U.S. job losses surged, bringing the total number of paychecks lost by U.S. families to 2.6 million for 2008.
The stock market had a nervous breakdown — with stocks plunging as much as 1,000 points in a single trading session and the Dow crashing by nearly a third in less than 30 days.
Reeling from the carnage, many companies delayed, postponed or even cancelled dividend payments to investors — and the Fed slashed interest rates, cutting yields on other income investments.
But now, it’s looking like last year’s disaster was little more than a dress rehearsal for the new phase of the banking crisis that’s beginning now!
This new phase of the banking crisis is compelling new evidence of the great “financial famine” we warned you about in yesterday’s “7 Startling Forecasts for 2009” emergency briefing: At least a full year in which every source of income and profits you count on is in extreme danger.
That’s why we’ve urged you to consider a new strategy to get yourself and your family through this disaster: A practical way for you to keep money flowing to you no matter how intense this crisis gets — and no matter how long it lasts.
And it’s why we’ve decided to leave the recording of “7 Startling Forecasts for 2009” online for a short time: It is absolutely essential viewing for you if you’re concerned about your income and investments in the year ahead.
Just turn up your computer speakers, and click this link to watch this crucial video while it’s still online.
Best wishes,
Martin
My Closing Comment:
The first 30 minutes of the video at the link above is full of great information about our current economic delimma and what you can anticipate to see in 2009 - the remainder is a discussion on Currency trading and Martin's Team Guided approach to it.
Anyway, I wanted to share the email (below) that I received in my inbox today - reinforcing what many of us already know and/or feel, but that which we fail to hear from the many talking heads in the media.
BREAKING NEWS:
Bank of America posts massive $1.79 billion loss in last three months of 2008 ... slashes dividends ... accepts $138 billion emergency lifeline ...
Citigroup reports total losses of $18.7 billion in 2008 — $8.29 billion in the fourth quarter ALONE ...
New phase of bank crisis beginning ... soaring unemployment, plunging stocks, canceled dividends, and sinking investment income ahead ...
FREE VIDEO BRIEFING — “7 Startling Forecasts for 2009” — to help you survive ... and to help keep money flowing to you no matter how much worse this great financial famine becomes — CLICK THIS LINK to watch it now!
Dear Subscriber,
Just when everyone thought we’d seen the worst of the carnage in the U.S. banking system ...
Despite the $350 billion in TARP funds Washington already spent to save the big banks ...
Despite Treasury Secretary Paulson’s emphatic assurance to CNBC’s Maria Bartiromo that the banks are no longer in danger just a few days ago ...
And regardless of the $138 billion ADDITIONAL lifeline he’s just been forced to throw Bank of America yesterday ...
A new, more virulent strain of the bank panic contagion is now hitting Wall Street!
Just this morning, Bank of America posted its first loss in 17 years — a whopping $1.7 billion in October, November and December — and cut the dividend it pays to stockholders.
Plus, Citigroup, which had already received $45 billion in government handouts, posted its fifth straight multi-billion dollar quarterly loss — $8.3 billion in the last three months of 2008, bringing its total losses for the year to a staggering $18.7 billion!
No wonder Obama’s advisers have freely admitted that they see an increasingly grave banking crisis beginning to unfold! No wonder they have scrambled to gain control over the second $350 billion in bailout funds! And no wonder ...
The Great Financial Famine of 2009 Is Spreading Like Wildfire!
After the prior phase of this great banking crisis struck last fall, U.S. job losses surged, bringing the total number of paychecks lost by U.S. families to 2.6 million for 2008.
The stock market had a nervous breakdown — with stocks plunging as much as 1,000 points in a single trading session and the Dow crashing by nearly a third in less than 30 days.
Reeling from the carnage, many companies delayed, postponed or even cancelled dividend payments to investors — and the Fed slashed interest rates, cutting yields on other income investments.
But now, it’s looking like last year’s disaster was little more than a dress rehearsal for the new phase of the banking crisis that’s beginning now!
This new phase of the banking crisis is compelling new evidence of the great “financial famine” we warned you about in yesterday’s “7 Startling Forecasts for 2009” emergency briefing: At least a full year in which every source of income and profits you count on is in extreme danger.
That’s why we’ve urged you to consider a new strategy to get yourself and your family through this disaster: A practical way for you to keep money flowing to you no matter how intense this crisis gets — and no matter how long it lasts.
And it’s why we’ve decided to leave the recording of “7 Startling Forecasts for 2009” online for a short time: It is absolutely essential viewing for you if you’re concerned about your income and investments in the year ahead.
Just turn up your computer speakers, and click this link to watch this crucial video while it’s still online.
Best wishes,
Martin
My Closing Comment:
The first 30 minutes of the video at the link above is full of great information about our current economic delimma and what you can anticipate to see in 2009 - the remainder is a discussion on Currency trading and Martin's Team Guided approach to it.
Thursday, January 15, 2009
On "Hyperinflation"
FOFOA discusses Hyperinflation vs Deflation - to develop one unifying explanation for these two very seemingly different events.
fofoa.blogspot.com
fofoa.blogspot.com
Tuesday, January 13, 2009
Bear Market Rally Exhausted
For those of you who don't know: during the Great Depression US Stock markets initially tanked in 1929, but didn't bottom out until 1932. In-between these years however there were great bear-market rallies and many of the experts at that time were consistently telling the masses that the bottom was in and the crisis was nearly over. This (over time) started a new boost in confidence, investors reentered the markets and stocks rallied (for a short period of time) - only to turn around and begin a new (more severe) down leg just a few months later - crushing investors along the way... This trend repeated itself for several years.
Which brings us to to day... If you recall back to Oct - Nov 2008, remember the severe volatility, complete loss of confidence and the sheer panic that set in during that two month period? Stocks were smashed, gold was creamed and the dollar rallied as the Volatility Index rose and people fled to safety.
This sheer panic settled down after huge losses were incurred and conditions became massively oversold - thus causing investors to reenter and buy some "bargains". Eventually, after volatility settled down, even the financial talking heads gave their "all clear" and told folks "time to get back in"...
Well dear readers, from the looks of things, seems this recent bear-market rally is nearly exhausted and more crushing is heading our way...
If you look at the chart of the DOW below - note how the index cratered in Oct followed by a dive in the Price Oscillator (PPO Line). We had a slight upturn in November only to be followed by a lower low (7,449) late in the same month. Since that time we've had a lot of sideways action, broke back above 9,000 and the PPO has consistently headed upwards (a positive sign) - until just recently - take note of the recent PPO turn downwards. Could this signify something is about to change with 4th quarter reporting now due out?
During that very same time period discussed above, the dollar (chart below) gained strength as people became liquid and flocked to the so called "safe-haven". Note how the PPO line in November rose and became "overbought" - ultimately leading to a sharp selloff and decline in mid December. But also note how the PPO line is rising again - illustrating potential new strength (albeit probably short-term) as the Stock Markets begin to look unstable once again...
Same goes for Gold (chart below). Short term, looks like we're headed lower once again - as the dollar increases and stocks once again tank... Note the PPO falling (not a good sign for gold)
Lastly, lets take a quick look at the Volitility Index (VIX). Again, covering the same period, note how the VIX increased in Oct and Nov 08 (as the markets tanked). Take a look at the PPO highs - followed by the trend lower - until the beginning of Jan 09 anyway - see how the PPO is now indicating an new upturn.
Bottom Line:
Now I'm not a trained chartist, but I am equipped with a bit of common sense and from what I can garner, these charts are highlighting the fact that we're in for a new round of volatility, falling stocks, falling gold and a rising dollar.
More thoughts: If we take out 7,200 on the DOW (last seen in 2002) sometime in the not too distant future (which I think we will), the next stop (support) is 6,500 last seen in 1997.
DOW: Wheres the Floor?
Regards
Randy
Which brings us to to day... If you recall back to Oct - Nov 2008, remember the severe volatility, complete loss of confidence and the sheer panic that set in during that two month period? Stocks were smashed, gold was creamed and the dollar rallied as the Volatility Index rose and people fled to safety.
This sheer panic settled down after huge losses were incurred and conditions became massively oversold - thus causing investors to reenter and buy some "bargains". Eventually, after volatility settled down, even the financial talking heads gave their "all clear" and told folks "time to get back in"...
Well dear readers, from the looks of things, seems this recent bear-market rally is nearly exhausted and more crushing is heading our way...
If you look at the chart of the DOW below - note how the index cratered in Oct followed by a dive in the Price Oscillator (PPO Line). We had a slight upturn in November only to be followed by a lower low (7,449) late in the same month. Since that time we've had a lot of sideways action, broke back above 9,000 and the PPO has consistently headed upwards (a positive sign) - until just recently - take note of the recent PPO turn downwards. Could this signify something is about to change with 4th quarter reporting now due out?
During that very same time period discussed above, the dollar (chart below) gained strength as people became liquid and flocked to the so called "safe-haven". Note how the PPO line in November rose and became "overbought" - ultimately leading to a sharp selloff and decline in mid December. But also note how the PPO line is rising again - illustrating potential new strength (albeit probably short-term) as the Stock Markets begin to look unstable once again...
Same goes for Gold (chart below). Short term, looks like we're headed lower once again - as the dollar increases and stocks once again tank... Note the PPO falling (not a good sign for gold)
Lastly, lets take a quick look at the Volitility Index (VIX). Again, covering the same period, note how the VIX increased in Oct and Nov 08 (as the markets tanked). Take a look at the PPO highs - followed by the trend lower - until the beginning of Jan 09 anyway - see how the PPO is now indicating an new upturn.
Bottom Line:
Now I'm not a trained chartist, but I am equipped with a bit of common sense and from what I can garner, these charts are highlighting the fact that we're in for a new round of volatility, falling stocks, falling gold and a rising dollar.
More thoughts: If we take out 7,200 on the DOW (last seen in 2002) sometime in the not too distant future (which I think we will), the next stop (support) is 6,500 last seen in 1997.
DOW: Wheres the Floor?
Regards
Randy
Monday, January 12, 2009
The collapsing US economy - by Paul Craig Roberts
A Superb Read!
The collapsing US economy - Will the Government Turn to the Printing Press?
Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President Francois Mitterrand. He is the author of Supply-Side Revolution : An Insider's Account of Policymaking in Washington; Alienation and the Soviet Economy and Meltdown: Inside the Soviet Economy, and is the co-author with Lawrence M. Stratton of The Tyranny of Good Intentions : How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice.
The collapsing US economy - Will the Government Turn to the Printing Press?
Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President Francois Mitterrand. He is the author of Supply-Side Revolution : An Insider's Account of Policymaking in Washington; Alienation and the Soviet Economy and Meltdown: Inside the Soviet Economy, and is the co-author with Lawrence M. Stratton of The Tyranny of Good Intentions : How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice.
Tyche's Hennecke Says Gold Prices May Rise to $10,000
Oct. 9 (Bloomberg) -- Martin Hennecke, senior manager at Tyche Group Ltd., talks with Bloomberg's Susan Li in Hong Kong about the outlook for Asian equity markets, global economies and gold prices. (Source: Bloomberg)
Potential for "$6,000 to $10,000" gold and hyperinflation
Can't yet find the video to embed, but here's the Bloomberg Video link: Video Link
Potential for "$6,000 to $10,000" gold and hyperinflation
Can't yet find the video to embed, but here's the Bloomberg Video link: Video Link
Remember Lee Iacocca? A Must Read!
A friend sent me these words via email. They were so damn good - and so very relevant to today's situation - that I just had to post and share with you all.
Remember Lee Iacocca, the man who rescued Chrysler Corporation from it's death throes? He's now 82 years old and has a new book, 'Where Have All The Leaders Gone?' and here are some excerpts (below picture).
Lee Iacocca Says:
Am I the only guy in this country who's fed up with what's happening? Where the hell is our outrage? We should be screaming bloody murder. We've got a gang of clueless bozos steering our ship of state right over a cliff, we've got corporate gangsters stealing us blind, and we can't even clean up after a hurricane much less build a hybrid car. But instead of getting mad, everyone sits around and nods their heads when the politicians say, 'Stay the course.'
Stay the course? You've got to be kidding. This is America , not the damned 'Titanic'. I'll give you a sound bite: 'Throw all the bums out!'
You might think I'm getting senile, that I've gone off my rocker, and maybe I have. But someone has to speak up. I hardly recognize this country anymore.
The most famous business leaders are not the innovators but the guys in handcuffs. While we're fiddling in Iraq , the Middle East is burning and nobody seems to know what to do. And the press is waving 'pom-poms' instead of asking hard questions. That's not the promise of the 'America ' my parents and yours traveled across the ocean for. I've had enough. How about you?
I'll go a step further. You can't call yourself a patriot if you're not outraged. This is a fight I'm ready and willing to have. The Biggest 'C' is Crisis ! (Iacocca elaborates on nine C's of leadership, with crisis being the first.)
Leaders are made, not born. Leadership is forged in times of crisis. It's easy to sit there with your feet up on the desk and talk theory. Or send someone else's kids off to war when you've never seen a battlefield yourself. It's another thing to lead when your world comes tumbling down.
On September 11, 2001, we needed a strong leader more than any other time in our history. We needed a steady hand to guide us out of the ashes. A hell of a mess so here's where we stand.
We're immersed in a bloody war with no plan for winning and no plan for leaving.
We're running the biggest deficit in the history of the country.
We're losing the manufacturing edge to Asia , while our once-great companies are getting slaughtered by health care costs.
Gas prices are skyrocketing, and nobody in power has a coherent energy policy.
Our schools are in trouble.
Our borders are like sieves.
The middle class is being squeezed every which way.
These are times that cry out for leadership.
But when you look around, you've got to ask: 'Where have all the leaders gone?' Where are the curious, creative communicators? Where are the people of character, courage, conviction, omnipotence, and common sense? I may be a sucker for alliteration, but I think you get the point.
Name me a leader who has a better idea for homeland security than making us take off our shoes in airports and throw away our shampoo?
We've spent billions of dollars building a huge new bureaucracy, and all we know how to do is react to things that have already happened.
Name me one leader who emerged from the crisis of Hurricane Katrina. Congress has yet to spend a single day evaluating the response to the hurricane or demanding accountability for the decisions that were made in the crucial hours after the storm.
Everyone's hunkering down, fingers crossed, hoping it doesn't happen again. Now, that's just crazy. Storms happen. Deal with it. Make a plan. Figure out what you're going to do the next time.
Name me an industry leader who is thinking creatively about how we can restore our competitive edge in manufacturing. Who would have believed that there could ever be a time when 'The Big Three' referred to Japanese car companies? How did this happen, and more important, what are we going to do about it?
Name me a government leader who can articulate a plan for paying down the debit, or solving the energy crisis, or managing the health care problem. The silence is deafening. But these are the crises that are eating away at our country and milking the middle class dry.
I have news for the gang in Congress. We didn't elect you to sit on your asses and do nothing and remain silent while our democracy is being hijacked and our greatness is being replaced with mediocrity. What is everybody so afraid of? That some bonehead on Fox News
Had Enough? Hey, I'm not trying to be the voice of gloom and doom here. I'm trying to light a fire. I'm speaking out because I have hope - I believe in America . In my lifetime, I've had the privilege of living through some of America 's greatest moments. I've also experienced some of our worst crises: The 'Great Depression,' 'World War II,' the 'Korean War,' the 'Kennedy Assassination,' the 'Vietnam War,' the 1970's oil crisis, and the struggles of recent years culminating with 9/11.
If I've learned one thing, it's this: 'You don't get anywhere by standing on the sidelines waiting for somebody else to take action. Whether it's building a better car or building a better future for our children, we all have a role to play. That's the challenge I'm raising in this book. It's a call to 'Action for people who, like me, believe in America '.. It's not too late, but it's getting pretty close. So let' s shake off the crap and go to work. Let's tell'm all we've had 'enough.'
Make your own contribution by sending this to everyone you know and care about.
It's our country, folks, and it's our future. Our future is at stake!!
My closing thoughts:
I hope, after reading, you feel the same way as I did... I believe Lee is speaking many of the same words the masses are thinking, yet tend to keep to themselves - due to the belief that some will doubt their patriotism and/or consider them a radical; others might ostracise and/or criticise; many more are just too damn ignorant to discuss the issue (what? can't we just talk about football or Dancing w/the Stars?)...
But this truly IS an important issue that needs to become mainstream... WE NEED LEADERSHIP, NOT MORE G.D. CORRUPTION!
Am I wrong here? Is it not time for ALL of us to wake up from our slumber and DEMAND honest, accountable government leadership? Isn't it time to DEMAND that they stop lining their pockets while looking out for the best interests of the bankers, corporations and big business - and finally stand up to speak for "we the people"? We're on the downward slide my friends and if we don't start turning this ship around quickly, we're done!
To reiterate a comment made in a previous post of mine - 3rd world America: "I love this country, but feel that if things don’t change soon, we’ll eventually follow the path of the Romans and ultimately will see to our own demise... A 3rd world America."
With all the above said, please allow me to leave you with a 1966 Robert F. Kennedy quote:
"Few men are willing to brave the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential, vital quality of those who seek to change a world which yields most painfully to change."
Think about it...
Best Regards
Remember Lee Iacocca, the man who rescued Chrysler Corporation from it's death throes? He's now 82 years old and has a new book, 'Where Have All The Leaders Gone?' and here are some excerpts (below picture).
Lee Iacocca Says:
Am I the only guy in this country who's fed up with what's happening? Where the hell is our outrage? We should be screaming bloody murder. We've got a gang of clueless bozos steering our ship of state right over a cliff, we've got corporate gangsters stealing us blind, and we can't even clean up after a hurricane much less build a hybrid car. But instead of getting mad, everyone sits around and nods their heads when the politicians say, 'Stay the course.'
Stay the course? You've got to be kidding. This is America , not the damned 'Titanic'. I'll give you a sound bite: 'Throw all the bums out!'
You might think I'm getting senile, that I've gone off my rocker, and maybe I have. But someone has to speak up. I hardly recognize this country anymore.
The most famous business leaders are not the innovators but the guys in handcuffs. While we're fiddling in Iraq , the Middle East is burning and nobody seems to know what to do. And the press is waving 'pom-poms' instead of asking hard questions. That's not the promise of the 'America ' my parents and yours traveled across the ocean for. I've had enough. How about you?
I'll go a step further. You can't call yourself a patriot if you're not outraged. This is a fight I'm ready and willing to have. The Biggest 'C' is Crisis ! (Iacocca elaborates on nine C's of leadership, with crisis being the first.)
Leaders are made, not born. Leadership is forged in times of crisis. It's easy to sit there with your feet up on the desk and talk theory. Or send someone else's kids off to war when you've never seen a battlefield yourself. It's another thing to lead when your world comes tumbling down.
On September 11, 2001, we needed a strong leader more than any other time in our history. We needed a steady hand to guide us out of the ashes. A hell of a mess so here's where we stand.
We're immersed in a bloody war with no plan for winning and no plan for leaving.
We're running the biggest deficit in the history of the country.
We're losing the manufacturing edge to Asia , while our once-great companies are getting slaughtered by health care costs.
Gas prices are skyrocketing, and nobody in power has a coherent energy policy.
Our schools are in trouble.
Our borders are like sieves.
The middle class is being squeezed every which way.
These are times that cry out for leadership.
But when you look around, you've got to ask: 'Where have all the leaders gone?' Where are the curious, creative communicators? Where are the people of character, courage, conviction, omnipotence, and common sense? I may be a sucker for alliteration, but I think you get the point.
Name me a leader who has a better idea for homeland security than making us take off our shoes in airports and throw away our shampoo?
We've spent billions of dollars building a huge new bureaucracy, and all we know how to do is react to things that have already happened.
Name me one leader who emerged from the crisis of Hurricane Katrina. Congress has yet to spend a single day evaluating the response to the hurricane or demanding accountability for the decisions that were made in the crucial hours after the storm.
Everyone's hunkering down, fingers crossed, hoping it doesn't happen again. Now, that's just crazy. Storms happen. Deal with it. Make a plan. Figure out what you're going to do the next time.
Name me an industry leader who is thinking creatively about how we can restore our competitive edge in manufacturing. Who would have believed that there could ever be a time when 'The Big Three' referred to Japanese car companies? How did this happen, and more important, what are we going to do about it?
Name me a government leader who can articulate a plan for paying down the debit, or solving the energy crisis, or managing the health care problem. The silence is deafening. But these are the crises that are eating away at our country and milking the middle class dry.
I have news for the gang in Congress. We didn't elect you to sit on your asses and do nothing and remain silent while our democracy is being hijacked and our greatness is being replaced with mediocrity. What is everybody so afraid of? That some bonehead on Fox News
Had Enough? Hey, I'm not trying to be the voice of gloom and doom here. I'm trying to light a fire. I'm speaking out because I have hope - I believe in America . In my lifetime, I've had the privilege of living through some of America 's greatest moments. I've also experienced some of our worst crises: The 'Great Depression,' 'World War II,' the 'Korean War,' the 'Kennedy Assassination,' the 'Vietnam War,' the 1970's oil crisis, and the struggles of recent years culminating with 9/11.
If I've learned one thing, it's this: 'You don't get anywhere by standing on the sidelines waiting for somebody else to take action. Whether it's building a better car or building a better future for our children, we all have a role to play. That's the challenge I'm raising in this book. It's a call to 'Action for people who, like me, believe in America '.. It's not too late, but it's getting pretty close. So let' s shake off the crap and go to work. Let's tell'm all we've had 'enough.'
Make your own contribution by sending this to everyone you know and care about.
It's our country, folks, and it's our future. Our future is at stake!!
My closing thoughts:
I hope, after reading, you feel the same way as I did... I believe Lee is speaking many of the same words the masses are thinking, yet tend to keep to themselves - due to the belief that some will doubt their patriotism and/or consider them a radical; others might ostracise and/or criticise; many more are just too damn ignorant to discuss the issue (what? can't we just talk about football or Dancing w/the Stars?)...
But this truly IS an important issue that needs to become mainstream... WE NEED LEADERSHIP, NOT MORE G.D. CORRUPTION!
Am I wrong here? Is it not time for ALL of us to wake up from our slumber and DEMAND honest, accountable government leadership? Isn't it time to DEMAND that they stop lining their pockets while looking out for the best interests of the bankers, corporations and big business - and finally stand up to speak for "we the people"? We're on the downward slide my friends and if we don't start turning this ship around quickly, we're done!
To reiterate a comment made in a previous post of mine - 3rd world America: "I love this country, but feel that if things don’t change soon, we’ll eventually follow the path of the Romans and ultimately will see to our own demise... A 3rd world America."
With all the above said, please allow me to leave you with a 1966 Robert F. Kennedy quote:
"Few men are willing to brave the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential, vital quality of those who seek to change a world which yields most painfully to change."
Think about it...
Best Regards
Sunday, January 11, 2009
MAKING ENDS MEET: BACK TO BARTERING
Amanda Barr sits in her garage next to the 201C Banshee quad cycle she bartered for recently. She and her husband also have bartered for items such as tools and household goods
LVRJ: People adopt ancient practice of swapping stuff to cope with recession
For wife and husband Amanda and Shannon Barr, marriage brought with it a whole set of new, and sometimes expensive, responsibilities.
But it didn't come with additional finances.
"We needed things, but we didn't have money," says Amanda Barr, who married her husband five years ago. "We noticed other people needed things, but they didn't have money."
Instead of going without, they turned to an ancient custom that, over the past few months, has become increasingly popular across the nation: The Barrs started trading their stuff for other people's stuff.
At first, they bartered with people they encountered through work or friends. Recently, the couple have joined a growing number of people who are using Web sites such as craigslist to offer their services or goods in exchange for anything of value.
According to a craigslist spokeswoman, the site has seen a "significant growth in our bartering section as craigslist users get creative to keep their cash in their wallets during this troubling economy."
In November, 1,681 Las Vegans posted ads on craigslist offering trades. That's up from November 2007 when 1,081 ads were posted.
The Barrs placed an ad in December offering mechanical work, housecleaning, welding, yardwork or massage to anyone who had a Barbie Power Wheels Jeep to trade. It was to be a gift for their 3-year-old daughter, one they couldn't afford to buy. They haven't found any takers, yet, but Amanda Barr says they've had many past successes.
"It's actually worked out really well," she says. "We helped people move last week and they said, 'Whatever we don't fit in the van, you guys can have.' "
They have traded for tools, dirt bikes, four wheelers, home goods and other items.
Wendy Mackin has a 65-inch HDTV. She bought it three years ago for $7,000 but wants to replace it. For two weeks, she tried to sell the TV but had no takers. Finally, Mackin offered it on craigslist in exchange for an exterior house paint job, landscape work, irrigation repair or other outside work.
The response was strong and immediate. She negotiated a deal with a licensed painter.
"People ... are losing their jobs" and don't have cash to spend, so it's no surprise that they're turning to bartering, says dentist Greg Moritz of Alpha Dental.
He started bartering about 18 months ago through IMS, a barter network. A few months later, Moritz posted on craigslist offering dental treatment for items of value.
"The office was a little bit slow" when he started trading, Moritz says. "I thought if I could get IMS money, it might help out with overhead. I didn't know what I could do with it."
Barter networks are slightly different from direct trading, says David Heller, a locally based broker for the barter network ITEX. It's still trading because cash is never involved, except when paying the broker fee.
Members of the trade exchange use ITEX dollars to buy goods and services from other members, Heller explains. For instance, a graphic designer might go to an eye doctor who is a member of the barter network. The eye doctor doesn't need design work but he can use the network "money" paid to him in order to purchase something from a different member.
Moritz has traded on his network for advertising, printing and other services related to his practice and estimates that he pays about 15 percent of his overhead with barter money. A skeptic turned believer, Moritz not only recommends barter networks to business owners but considers it a necessary tool for uncertain economic times.
Moritz also has made direct trades with patients for things such as new tile in his office, a paint job and even maintenance for the office fish tank. That can be a good deal for a skilled worker with little dental insurance.
"Sometimes, I look for opportunities where I know it might be difficult for people to get good treatment because the treatment plan is too expensive," says Moritz, adding that implant work can cost thousands of dollars.
People have offered things he can't use, such as karate lessons, haircuts, repair work and massages. Moritz trades when he can but there is a limit, he says.
Bartering can be traced back to ancient times, but was replaced by a more efficient economy based on money, notes Keith Schwer, director of the Center for Business Economic Research at the University of Nevada, Las Vegas.
In the past, it took too long to barter, because people had to search to find something they wanted for something they had. The Internet eliminates some of the inconvenience of bartering, Schwer says.
"I suspect in this soft economy, people say 'I may be out of a job but I can raise some revenue by doing these things.' They have the time to do it. Some people may have found this is a way to add to their current economic status."
Closing Comments:
What is Money? Money is a good that acts as a unit of account, a store of value and a medium of exchange.
Before the development of a currency, bartering was the primary means for people to obtain the goods and services needed and the practice was used for many centuries around the globe... Bartering had its flaws however - lets say you raised/traded cows, but wanted to buy apples, but the apple trader, you quickly find out, is a vegetarian and has no use for a cow. You now have to find someone who will trade your cow for something the apple trader may want to trade you apples for... A difficult/cumbersome process...
The bartering practice was eventually replaced by commodity money (i.e. trade in beaver pelts, corn, gold, etc) in advancing economies, as many of these items were widely desired, durable, portable and easily stored, yet this practice too was soon abandoned and replaced by commodity currency (e.g. currency backed by gold or silver) - main reasons for transition were: institution of banking systems, ease of currency divisibility, easy to carry, widely used/accepted, etc.
In recent history, when it became apparent to the world that the US was bursting at the seams with new debt and printing far more money - to finance the Vietnam war and new social programs - than we had in available gold reserves (backing our currency), foreigners united and demanded our gold reserves (in lieu of dollars) for payment of US debt. President Nixon panicked and took us off the Gold standard in 1971... Thus the beginning of the US Dollar as a "Fiat" Currency.
In a fiat monetary system, money isn't backed by anything. Instead the only thing that gives money its value is its relative scarcity and the faith placed in it by the people who use it... However, due to the fact it is backed by nothing, unlimited money can be created (printed out of thin air) - thus spawning monetary inflation.
For those of you who don't know, consumer inflation is merely the "end-result" rise in prices caused by a net expansion of a nations money supply - causing more money to chase the same number of available goods and services - leading to a supply/demand imbalance and driving prices higher (by devaluing a currency).
If you consider all the Gvt bailouts of late, where do you think all this money came from? We as a nation certainly didn't have it saved up... Yup, we printed it ALL and we will continue to print more until the cows come home.
Forget about the mere $700B, Congressionally approved, Paulson banking-system bailout plan... Thus far we American Taxpayers are on the hook for $8.6 TRILLION in Guarantees and bailouts (Depiction of 2008 Gvt Bailout figures) and this figure doesn't even account for Obama's new stimulus plan and/or the next major bailout crisis looming on the horizon. Yup folks, the dollar is soon-to-be toast..
Now think back to the above definition of what money is: I think we can all honestly say that monetary inflation (caused by excessive fiat printing) prevents our currency from being a "store of value" and savers today are robbed of future purchasing power through currency devaluation - caused by the hidden tax of inflation. Chart below illustrates how inflation has robbed the dollar of value over the years - and this chart only goes to 2000.
I can only imagine 1) as nationwide unemployment skyrockets this year and 2) the gvt monetary printing presses shift into overdrive and 3) then later as the gargantuan US Treasury bubble bursts - causing interest rates to rise and the dollar to swiftly fall in value (spawning a massive new consumer inflation wave), the bartering practice highlighted in the article above will become much more mainstream - as millions strive to better their miserable falling lifestyles.
I also foresee a day when the events above cause people lose faith in their banks and currency and once again resort to making transactions in commodity money (gold, silver, food, etc).
Yes folks, our once seemingly "neatly-boxed" little world is quickly changing, yet we cannot become complacement and will soon need to realize that we too need to change - in order to better cope... Bartering and Commodity money will be some of the necessary tools in our toolbox that will be essential in the years ahead.
For a better understanding of the issues impacting the US Dollar please see this article: Dollar, Faltering Foundation of US Economic Strength
For a better understanding of Money, Inflation and the issues impacting our economy today see: US Economic Outlook 2008-11 (created in May 08)
For my outlook on 2009 see: Economic Tsunami of 2009
Best Regards
Randy
Peter Schiff on RT
Peter Schiff on Russia Today 7 Jan 08. Though the video and audio are a bit out of sync, this is one of his best interviews
Saturday, January 10, 2009
Affinity Ponzi Schemes
A look at affinity fraud, with Jake Zamansky, a former federal prosecutor, and Carmen Wong Ulrich.
Click Play and allow a few seconds to load.
Click Play and allow a few seconds to load.
2008 - most job losses since 1945; unemployment 7.2%
The U.S. unemployment rate is now 7.2%, the highest since 1993.
In 2008, 2.6M jobs were lost - worst year of losses since 1945 - and the rate is accelerating. First time since records keeping started that US has consecutively lost (month-to-month) more than 500,000 jobs - a Major Crisis!
Poised to lose a significant number of manufacturing jobs in the future - a dismal year to come.
US will likely lose more than 3M jobs in 2009 - $1.3T stimulus required.
Scott Paul, of the Alliance for American Manufacturing; Steve Grasso, of Stuart Frankel; and the CNBC news team discuss.
Click Play and give a few seconds to load
In 2008, 2.6M jobs were lost - worst year of losses since 1945 - and the rate is accelerating. First time since records keeping started that US has consecutively lost (month-to-month) more than 500,000 jobs - a Major Crisis!
Poised to lose a significant number of manufacturing jobs in the future - a dismal year to come.
US will likely lose more than 3M jobs in 2009 - $1.3T stimulus required.
Scott Paul, of the Alliance for American Manufacturing; Steve Grasso, of Stuart Frankel; and the CNBC news team discuss.
Click Play and give a few seconds to load
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