FedUpUSA

Archive for the ‘Ron Paul’ Category

These are clear warnings signs that a rational person simply cannot ignore.

Bottom line, Nations are going bust. And the worse things get, the more desperate their tactics become. This isn’t the first time that the world has been in this position. This time is not different. History shows that there are serious, serious consequences to running unsustainably high debts and deficits. And those consequences have almost invariably involved pillaging people’s wealth, savings, livelihoods and liberties… either directly or indirectly.

What’s happening right now is playing out in textbook fashion. More taxes, more debt, more printing, more confiscation, less freedom. I’m not talking about the end of the world here, I’m talking about difficult times ahead, and the things that go beyond economics. It’s time to face facts and look at how society will change (and has already changed).

Many people will resist the change and instead cling desperately to the old system - the cycle of debt and consumption that provided jobs, stability, and prosperity. These people will have their lives turned upside down because that system is gone forever. And in case it still weren’t obvious, here is three minutes of clarity from Ron Paul and Jim Rogers…“I would expect that there is going to be a lot more chaos still to come.” – Ron Paul; “They won’t take our bank accounts…they will take our retirement accounts.” – Jim Rogers

Via Simon Black of Sovereign Man blog,

The world is truly an enormous place… and, despite the dearth of good news and positive trends out there, I still see a lot of amazing opportunities in my travels.

But it’s really important to remain grounded about the challenges that face us. As I pen this letter to you, in fact,

- The NSA’s Utah data center, which will intercept every phone call, email, and tweet sent across the Internet, is nearing completion.

- The Marketplace Fairness Act, which will create additional sales taxes on US-based Internet transactions, is set to pass the Senate next week.

- The government of Cyprus just passed the final bail-in measures, officially authorizing the direct confiscation of people’s savings in that country’s banking system.

- The Bank of Japan recently announced its intentions to double down on their already unprecedented money printing operations.

- Not to be outdone, the US Federal Reserve just announced that they will maintain their Quantitative Easing program, which dilutes the existing money supply by more than $1 trillion annually.

- At $16.83 trillion, the US federal debt is at a record high and set to breach $17 trillion early this summer.

- President Obama recently proposed to cap the tax deferral benefit on Individual Retirement Accounts in the Land of the Free

These are clear warnings signs that a rational person simply cannot ignore.

Bottom line, nations are going bust. And the worse things get, the more desperate their tactics become.

This isn’t the first time that the world has been in this position. This time is not different.

History shows that there are serious, serious consequences to running unsustainably high debts and deficits. And those consequences have almost invariably involved pillaging people’s wealth, savings, livelihoods and liberties… either directly or indirectly.

What’s happening right now is playing out in textbook fashion. More taxes, more debt, more printing, more confiscation, less freedom.

I’m not talking about the end of the world here, I’m talking about difficult times ahead, and the things that go beyond economics. It’s time to face facts and look at how society will change (and has already changed).

Many people will resist the change and instead cling desperately to the old system– the cycle of debt and consumption that provided jobs, stability, and prosperity. These people will have their lives turned upside down because that system is gone forever.

And in case it still weren’t obvious, I’d like to present Ron Paul and Jim Rogers, speaking together at our event in Chile a few weeks ago, with their own views on the situation.

“They won’t take our bank accounts…they will take our retirement accounts.” – Jim Rogers

“We are going to have a calamity in economics and political crises as economies worldwide are a lot weaker than they tell us.” – Ron Paul

“I would expect that there is going to be a lot more chaos still to come.” – Ron Paul

“There are so many distortions because we disobeyed economic law – no matter what Bernanke tell’s you.” – Ron Paul

“Bernanke’s whole intellectual career has been dedicated to the study of printing money.” – Jim Rogers

“I don’t doubt [the confiscation] at all; and they will use force and they’ll use intimidation.” – Ron Paul

Three minutes of clarity…

ZeroHedge

How Ron Paul became the equivalent of the 13th floor in a hotel.

This video is worth taking the time to watch, even if you didn’t like or support Ron Paul. There is no denying he got shafted, and that should give everyone pause to ask the question: WHY?

Think about it long and hard. There were candidates the media lambasted and ridiculed, persecuted and fawned over, with both negative and positive coverage.  However, no matter what the angle, it all resulted in the key thing:  attention.  After all, as the old adage goes, ‘all publicity is good publicity.’  Ron Paul was the ONLY candidate who literally became persona non grata, even when it was glaringly obvious.

This video compiles all of the extremely compelling evidence in one place.

Nice speech, but he’s being far too nice and politically-correct.

We now know that The Fed — at all levels from the NY Fed to the entire Board of Governors, knew LIBOR was being diddled in early 2008.  If the allegations are true this was fraud – and therefore, their failure to act, failure to refer to law enforcement, failure to refer to Congress (Bernanke said nothing about this in his testimony before Congress at the time) and more is active co-conspiracy with the banks that committed these acts.

And that’s just the start.  The fact of the matter is that The Federal Reserve Act of 1913 lacks any sort of “or else”, and The Fed hasintentionally violated the Price Stability mandate for one hundred years on an intentional basis and yet nothing has been done about it.

Why not?  Because there is no sanction in the law such as “or go to prison for 20 years.”

Were the law on bank robbery simply “Don’t rob banks” and the “or else go to prison for 20 years” was missing there would be a line of masked men toting guns out the door of every bank in America.

Confidence comes from the knowledge that the law will be followed and those who break it will face actual and enforced sanction.

So close, and yet so far….. will the Libertarian Party pick up the torch?  The Democrats and Republicans will not, and if the Libertarians will not then perhaps the people of this nation need a new political party that will.

The Market-Ticker

Discussion (registration required to post)

Idiocracy On Display (Again): Krugman

It gets old Paul, and you need to have your degree revoked.

Nobel Prize-winning economist Paul Krugman suggested Federal Reserve policy makers led by Ben S. Bernanke are “reckless” for refusing to pursue higher inflation, which he said could lower U.S. unemployment.

“The reckless thing is to allow mass unemployment to continue,” Krugman, a Princeton University professor, said on Bloomberg Television’s “Street Smart” yesterday. “We have had a massive failure of our political system that has come to accept that 8 percentunemployment is the new normal and there is nothing that can be done,” Krugman said. “We’re in a low-key version of the Great Depression.”

….

“Inflation is theft,” said Paul, a Republican presidential candidate who said he will stay in the race until his party’s convention in August. “You’re stealing value from people who save money. It really destroys an important feature of the economy — and that is saving.”

Ron Paul has it half right.  The problem is that he hasn’t (and I don’t know why he won’t) go after the debasement committed by private banking interests at the behest of government.

Here is the reality of inflation in the money supply (including credit) and income change over the last 30 years:

Rebased to (1) be an income growth (or loss) figure by (1) subtracting one from the other and (2) removingpurely-financial product credit growth (which some will argue never makes it into the real economy and thus shouldn’t count — and makes the numbers look better than the raw figures suggest) you get this:

We hear laments of the middle class being hollowed out.  It’s true.

Barack Obama campaigned four years ago assailing President George W. Bush for wage losses suffered by the middle class. More than three years into Obama’s own presidency, those declines have only deepened.

The rebound from the worst recession since the 1930s has generated relatively few of the moderately skilled jobs that once supported the middle class, tightening the financial squeeze on many Americans, even those who are employed.

The problem is found in that chart above.  Obama hasn’t done anything about it because playing “fan money from your hand” can’t do anything more than provide a temporary salve for the problem.  To actually address it you have to put a stop to the offshoring abuses and stop the credit inflation game — a game that Obama has refused to allow to collapse on its own, which was it was beginning to do when he took office.

Here’s the ugly: Had Obama done so the nominal wage growth you see in the top chart would have, by now, begun even with the credit collapse and the middle class would actually be on the mend with real improvement!

But he didn’t.  Instead he decided to “throw money from the train” that we don’t have by borrowing more and more money.  All this does is create more and more credit money, which is inflation! 

Those who “receive” these government handouts may think they’re getting something for nothing but in fact they’re having their earnings power and prosperity destroyed.

There’s no solution to an economic bubble caused by loose credit that can be found without deflating the excess credit that has infested in the system.

It’s the math folks.

Here’s the interview for those who want to watch…… be warned, it will permanently deplete your IQ by 15 points.

Hmmm…

Republican presidential candidate Ron Paul on Monday laid out an economic plan that would lower corporate and individual taxes and cut federal spending by $1 trillion during his first year in office, achieved partly by eliminating five cabinet-level departments.

Mr. Paul, a longtime Texas congressman, said he would close the departments of Education, Energy, Commerce, Interior and Housing and Urban Development, as part of a broader plan to cut federal spending. The federal work force would be cut by 10%. Mr. Paul also called for stopping foreign aid and “ending foreign wars.”

Now that is cutting spending.

It also likely has the media power and public acceptance of about 3% of the population, because doing so will instantly collapse the entire ponzi game that has been run for the last 30 years.

It needs to happen too.

But it won’t.

Nonetheless, I do give Mr. Paul credit for putting it forward and actually saying what needs to be said in this area.

And while turning Social Security and Medicare into programs that people can “opt out” of sounds good, neither step does anything about the promises made that cannot be kept.  So…. what’s the plan there and how do we avoid the boomer blowup problem?  (Incidentally, again for those who missed it the last time, if we assume a current cost of medical insurance for a healthy 50 year old of $600 monthly, by the time he turns 85 at current cost escalation rates that policy costs about $12,000 – per month – or nearly $150,000 a year!)

The fail in this plan is that it does not address the 900lb Gorilla in the China Shop, which is the medical system.

That has to be fixed or the rest simply doesn’t matter and Ron Paul, like the rest, fails to address it, moving part of it to the States (sorry, shifting dollars doesn’t address the problem) and doing nothing of materiality with the rest.

The plan is, however, a start.