Federal Reserve Board Abolition Act Hits Congress

February 3, 2013 by  
Filed under Economy

On January 3, 2013 Congressman Paul Broun, Jr. (R-GA) introduced HR 73, The Federal Reserve Board Abolition Act. The thrust of the legislation is to “abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.” It looks like Ron Paul’s consistent cries for dealing with the Federal Reserve have not fallen on deaf ears, nor has the idea dissipated from elected representatives since he left office.

This piece of legislation was not the only one to be introduced. House Resolution 77, the Free Competition in Currency Act of 2013, was also introduced by Rep. Broun. This legislation seeks “to repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage.”

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JACK BLOOD INTERVIEWS G. EDWARD GRIFFIN 1.30.2013

January 30, 2013 by  
Filed under The Jack Blood Show

Freedom Force Member Jack Blood welcomes back the One and Only Ed Griffin. Jack has been interviewing Ed for over 10 years, and this might be the best yet. Topics include: 100 years of the Federal Reserve, Rand Paul, Obama’s 2nd term or Poppy Bush’s 9th term? False flag terror, Chemtrails, Capitalism, Future of the Dollar, the growing ranks of freedom activists, Social networking, and solutions to take our freedoms back! More on Mr Griffin at www.realityzone.com or Freedom Force International – http://www.freedomforceinternational.org/)

The Gazillion Dollar Joke

January 10, 2013 by  
Filed under Commentary

I’ve been reading about this idea to mint a $1 trillion dollar coin as a way to avoid the debt ceiling. I thought it started as a joke. I mean, years ago there was a episode of The Simpsons where Homer Simpson and Montgomery Burns go to Cuba with a trillion dollar bill where Fidal Castro steals it. This idea is so silly it’s hardly worth talking about. It’s all a big joke. The only thing it’s worth is a lot of laughs. The problem is, some people might actually be starting to take this idea seriously. After all, it is the congress, they are constitutionally obligated to mint coins, and if they say a coin is worth a trillion dollars, then by law it’s worth a trillion dollars. Read more

The Federal Reserve System, a Christmas Gift that Keeps on Taking

December 11, 2012 by  
Filed under Commentary

Ninety nine years ago this month, the law that brought the Federal Reserve System into existence was passed. It did so at the behest of some very wealthy and very greedy men who wanted nothing less than total control of as much of the world’s total wealth that they could possibly get their hands on. These men with names like Aldrich, Rockefeller, Rothschild, Vanderlip, Kuhn, Loeb, Warburg, Morgan, Schiff, et al. wanted nothing less than total control of finances, currencies and economies worldwide. They wanted it so badly that they cared not what the majority might think, and they certainly didn’t care what the common folk at the time might think. These were the robber barons of finance in their day, and they knew the general public wouldn’t trust them or their banking schemes. It was for this reason they had to remain secretive in their plans and use every deception and political dirty trick in their arsenal to achieve their goals. Read more

The Jack Blood Show – May 22 2012

May 23, 2012 by  
Filed under Archive

Jack covers breaking news from www.deadlinelive.info – Including info on 911, Pearl Harbor, FaceBook, and The “Federal Reserve”. In Hour Two Liam Scheff (www.Liamscheff.com) joins the show to discuss his new book: “Official Stories Counter-Arguments for a Culture in Need” – Subjects include: vaccinations, HIV Myths, Darwinism and others scientific BS floating as “Official Stories”.

Ron Paul Eats With Ben Bernanke: ‘He’s For The Gold Standard Now’

May 10, 2012 by  
Filed under Economy

Ron Paul ate with Ben Bernanke, chairman of the Federal Reserve, on Wednesday, and after their meal Paul joked that “he’s for the gold standard now.”

Ron Paul, the only remaining official opponent to Mitt Romney in the 2012 Republican presidential primary, and Bernanke ate together at the Federal Reserve‘s headquarters in Washington, D.C., on Wednesday, during which they had what Paul described as “sort of an open discussion,” according to the Wall Street Journal.

The meeting was certainly an odd one, as the two leaders are not exactly similarly-minded, as Ben Bernanke heads the Federal Reserve and the Texas Congressman led a hearing on Tuesday to consider proposals to end or overhaul the Fed .

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The JOBS Act: Washington Takes One (small) Step Back Toward Capitalism

April 20, 2012 by  
Filed under Commentary

 

Friday, April 20, 2012
TheDailyBell.com

Ron Holland

I know my editorial credibility and reader confidence will suddenly collapse when this goes to print but I have some good news out of Washington and Congress. Yes, I know what you are getting ready to do but don’t hit the delete button just yet!

The JOBS Act is actually good news for start-up and private company investors that will provide more liquidity, create an IPO boom and may be the beginning of a trend by Washington away from more regulatory and bureaucratic solutions holding down a nation and economy that simply can’t compete with the rest of the world.

Now, this could be an aberration, an oversight or simply the result of lobbying by Wall Street interests concerned about their future. It also could be preservation planning by politicians scared to death of re-election losses and their personal safety after what they have done to our nation, economy, wealth and freedoms. After all, looking at the civil unrest in Europe that could expand to the US, they’re in a corner. I believe our politicians only have two options: a return to free-market capitalism or bullets and, being politicians, they’ll probably explore both options.

Congress passed the JOBS Act on March 27, 2012 partly because given this recession and high unemployment environment what politician would not vote for a JOBS Act? Although the legislation actually has nothing to do with jobs or employment in the near term, perception is certainly reality inside the Washington beltway and after all, this is an election year.

The name actually stands for “Jumpstart Our Business Start-ups” and the goal is to revive economic growth in the United States by halting the serious decline in initial public offerings (IPOs). Congress decided in its wisdom to try a unique and foreign idea, by “Washington standards,” that works well in Asia. They decided to actually reduce the regulatory burden on companies wanting to raise capital in the US. The fact is over the last decade in America there has been an 80% drop in small companies going public. They seek to remedy this situation.

My first concern is the name of the act as Washington legislation usually ends up accomplishing the exactly opposite of what a name would suggest. For example, the US Bank Secrecy Act of 1970 was the first step in the Washington inspired destruction of banking privacy and secrecy, initially in the United States and today expanded to banking around the world.

What the Act Does

First, the act makes it less difficult for young, growing companies to easily go public by removing many of the expensive and restrictive requirements created by the Sarbanes-Oxley Act and other legislation. Fewer auditing requirements and improved communication between companies going public and potential investors is a big plus for the IPO market to enable US markets to compete with more free-market and capitalist competitor nations in Asia. Investors will discover expanded underwriters’ research and more open advertising for new share offerings.

Second, private firms could delay and avoid the onerous regulations and broad disclosure requirements of registering with the Securities and Exchange Commission until the number of shareholders reaches 2,000, up from 500 today, which, compared to Canada and other nations, is already quite generous.

Third, another major benefit will positively impact less wealthy potential investors in private company start-ups and IPOs formerly generally restricted to high-net-worth Accredited Investors. Now firms that “crowdfund” and raise funds for entrepreneurs from lots of small investors over the Internet will find their jobs are easier with reduced registration requirements, while investors can benefit from the opportunity to get ” a piece of the action” formerly restricted to wealthy investors.

Of course, the JOBS Act certainly isn’t perfect. There is less audit information and disclosure for unsophisticated investors and all investors need to be wary of high-pressure hucksters and investing more than a small percentage of their investment funds into these often high risk investments that can on occasion provide spectacular returns.

America Doesn’t Want to Go Greek!

The Feds and Congress are concerned about the threat of civil unrest in America’s future. What is happening in Greece, Spain and other European nations that have followed the American model of unlimited government debt and falling standards of living to maintain their welfare states is a scary proposition both to politicians and special interests. There are only two options for nations caught up in today’s economic scenario, recently explained quite well for once by Ben Bernanke, Chairman of the Federal Reserve in a speech to the congressional Budget Committee:

“Sustained high rates of government borrowing would both drain funds away from private investment and increase our debt to foreigners, with adverse long-run effects on U.S. output, incomes, and standards of living. Moreover, diminishing investor confidence that deficits will be brought under control would ultimately lead to sharply rising interest rates on government debt and, potentially, to broader financial turmoil. In a vicious circle, high and rising interest rates would cause debt-service payments on the federal debt to grow even faster, resulting in further increases in the debt-to-GDP ratio and making fiscal adjustment all the more difficult.”

Bullets or Free-Market Capitalism

Bernanke’s difficulty for America, as he terms it, can only be addressed by either growing the economy through real free-market capitalism or growing the police state at home in order to protect the politicians, institutions and elites responsible for the “difficulty.”

There is no doubt that as American citizens and investors we are forced to deal with Washington’s multiple personality disorder and extreme schizophrenia that recurrently takes control of behavior and actions by a paranoid and at times delusional leadership.

Recently, the Homeland Security Administration headed by Janet Napolitano ordered 450 million rounds of hollow point ammunition designed to decrease penetration and destroy more tissue upon entering a body, thus creating more pain and suffering for targeted victims. While we can only guess where this type of domestic firepower might be used by Homeland Security and in what situations, this is apparently a unique solution directed only at American civilians. First, it is against the law in some states for private citizens to use this kind of ammunition. Second, the use of such bullets in military conflict has been prohibited in international warfare by the Hague Convention Declaration III since 1899.

Free-Market Capitalism

Now, I don’t mean the Larry Kudlow mantra recited way too often on The Kudlow Report: “We believe that free-market capitalism is the best path to prosperity!” He is correct but there is little free-market capitalism connection to what is standard practice for Wall Street.

Yes, a majority of individual investors have lost faith in the American economy and financial markets but why shouldn’t they? In 2010, high frequency trading (HFT) made up more than 70% of all equity trades in the United States. The trading was exclusive to a few proprietary firms or proprietary trading desks at the larger investment banks, many of which were bailed out by American taxpayers. This is in contrast to long-term hold strategies practiced by most investors and investment advisors who are at a disadvantage to this highly advanced second-by-second electronic process.

Consider this. The Flash Crash of May 2010, the belief in possible market manipulation by big Wall Street firms, the Federal Reserve and the secretive plunge team all have combined with mediocre packaged financial products and advisor investment returns, which seldom reach even market index averages, to destroy faith in what is called free-market capitalism and the US financial markets. Add in the highest corporate tax rate in the developed world, regulations and bureaucracy costs and you see why Congress had to act.

Every American Company Is Now Competing In A Global Marketplace

Stock markets and economic growth flourish in China and Asia while the West is increasingly burdened by central bank fiat currency creation, exploding government debt, confiscatory taxation levels and regulatory burdens that only Karl Marx and Chairman Mao could love.

Our tax rate and regulatory burden is a drain on American economic growth, competitiveness and job creation. It is increasingly difficult to compete with China, India and other more free-market nations and is the reason growing numbers of US corporations are leaving and taking their investments and jobs with them.

“The climate for business is frightening here,” and that’s why he’s moving half his operation to Macau. – Steve Wynn, the entrepreneur who led the rebirth and explosive expansion of the Las Vegas Strip in the early 1990′s.

This May Be A New Dawn For American Investors

The JOBS Act is the first real step by Congress to address the need for Washington to turn away from the failed policies of socialism and regulatory democracy and back to free-market capitalism that is flourishing across Asia and other high growth nations. America has to compete again or suffer the consequences of prolonged recession, currency weakness and a burdensome government debt load that will in time bankrupt the United States and destroy the wealth of private investors.

The first step to restoring confidence in US investment markets is aimed at entrepreneurial private companies and initial public offerings in America. Out of desperation, this could be the beginning of a major reversal of regulations, designed to free American and Western businesses and competitiveness from the regulatory burden created over the last 50 years.

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The Ring of Power and the World Economy

March 8, 2012 by  
Filed under Commentary

“One ring to rule them all
One ring to find them
One ring to bring them all
And in the darkness bind them.”
From “The Fellowship of the Ring” by J.R.R. Tolkien

I cut my fantasy reading teeth on “The Hobbit” and “The Lord of the Rings” when I read the books way back when I was in the 7th grade. These might seem like difficult books for a 7th grader to read, but I was a voracious reader and these books posed a challenge both to my comprehension of the English language and my imagination. It took the making of the movies, excellently done under the direction of Peter Jackson I might add, and perhaps a more adult point of view, to really consider the parallels between this fantastic tale of good versus evil and modern economics and politics. Read more

The Ring of Power and the World Economy

March 8, 2012 by  
Filed under Commentary

“One ring to rule them all
One ring to find them
One ring to bring them all
And in the darkness bind them.”
From “The Fellowship of the Ring” by J.R.R. Tolkien

I cut my fantasy reading teeth on “The Hobbit” and “The Lord of the Rings” when I read the books way back when I was in the 7th grade. These might seem like difficult books for a 7th grader to read, but I was a voracious reader and these books posed a challenge both to my comprehension of the English language and my imagination. It took the making of the movies, excellently done under the direction of Peter Jackson I might add, and perhaps a more adult point of view, to really consider the parallels between this fantastic tale of good versus evil and modern economics and politics. Read more

Obama budget: $901 billion deficit in 2013 (Doesn’t even count Fed Bailouts)

February 11, 2012 by  
Filed under Economy

 

Obama budget: $901 billion deficit in 2013Obama signs away our future in the Oval Office.

NEW YORK (CNNMoney) — President Obama will propose a budget on Monday that forecasts a $901 billion deficit in 2013, and includes plans to make targeted investments in areas like infrastructure while hiking taxes on the rich.

The White House bills the document as a “blueprint for how we can rebuild an economy where hard work pays off and responsibility is rewarded.”

But given the intense acrimony in Washington, especially on budget issues, few provisions in the document are likely to ever become law.

The budget will project that the deficit for fiscal year 2012 will top $1.3 trillion, before falling in 2013 to $901 billion, or 5.5% of gross domestic product.

By 2022, the deficit is forecast to fall to $704 billion, or 2.8% of GDP, according to the White House.

Senior administration officials discussed details of the budget with reporters on Friday night. The full budget will be released Monday morning.

The administration officials said the budget is very much a continuation of two previous Obama keystones.

This first is a speech delivered last year in Kansas where he presented Americans with a choice: a “fair shot” with him, or a return to “you’re on your own economics.”

The second is last month’s State of the Union address, which focused on the broad themes of income inequality.

The 2013 budget is somewhat limited in scope because the White House had to fit spending on discretionary accounts below the limits set in the Budget Control Act approved by Congress last summer.

Over a decade, the cuts enshrined in the Budget Control Act total in the neighborhood of $1 trillion in discretionary spending.

That means it’s no easy feat to find room for additional spending on infrastructure, research and development and education — investments Obama says are critical.

The White House said that in order to fit under the caps, it had to lower spending in certain areas. To that end, discretionary spending is projected to fall from 8.7% of GDP in 2011 to 5.0% in 2022.

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Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

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