The Madness of a Lost Society 2012

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5 Reasons NOT to Pay Your Credit Cards

Are you one of the millions of Americans trying to decide between paying your credit card bills and eating?   

John Galt

We live in a matrix that goes to unspeakable expense to nurture us from the teat to be good consumers. You are issued a tax collection number at birth (SS#), another artificial number for your credit worthiness (FICO), and then you're extended a certain amount of tokens to play "life" based on those numbers.  This virtual currency, not unlike your earned Farmville coins, only has value because you give it value.  

It is a brilliantly designed game:  the banksters create a unit of money out of thin air; lend it to people with interest attached; get them to buy real items; then raise the rates, force people to work harder, hover like a vulture until expected default occurs, and rake in the forfeited assets.  Best of all, when the whole Ponzi scheme comes crashing down because they drunkenly gambled with your interest payments, the very people who destroyed you get bailed out by you with tax money.  And they call you the thieves when you can't pay them back.  The game is rigged for the house and it's always a Win/Win for them and a Lose/Lose for you.

Sure, you get to "rent" a flat-screen TV, a car, or a home from them, making life in the matrix almost worth it.  But, ultimately, you only temporarily use that stuff at great expense to you and massive profits to the banks.  After years and years of paid interest, you still never truly own anything.  The TV is now obsolete and worthless; you still must pay increasing property taxes and insurance on your homes and cars, even when your done paying the bank three times their value, all while they bought your years of servitude with nothing real or tangible.

In truth, if there was real justice in America, the criminal banking cartel would be arrested under the Federal Racketeer Influenced and Corrupt Organizations (RICO) Act, and their assets should seized and returned to their victims.  After their arrest and the unconditional release of all debt prisoners, a new, fair, and sound money system should be put in place for the benefit of all (See The Secret of Oz).

For the many who are contemplating dropping out of the corrupt debtor system, the least impact from the mafia will occur by ignoring your unsecured credit cards.  Before you take this action, be warned that you may have to return the signing bonus gift you received when got your contract to play in the big leagues. 

Here are the top five reasons not to pay your credit cards:

1. If you owe $6,000 on a credit card with a 20 percent interest rate, and you only pay the minimum payment each time, it will take you 54 years to pay off that credit card.  During those 54 years you will pay $26,168 in interest rate charges in addition to the $6,000 in principal that you are required to pay back (Source).
2. Under the legal fractional reserve banking system, the banks NEVER actually had the fake money for the credit they extended you in the first place.  They added you to their stable of debt slaves with a simple accounting key stroke.
3. The cartel of the large private banks are a proven criminal entity at the heart of most global problems including, but not limited to:  wars, genocide, famine, and resource plundering.  It's immoral to continue to support such a system on any level.
4. You won't need a good credit score to live outside of the matrix. It's a place in your mind where it is okay to not ever "use" anything with bank financing for the rest of your life.
5. Not paying your credit cards may be one of the only ways to make the matrix feel the weight of your protest without drawing too much oppression.

Since the foxes guard the chickens on Wallshington Street, the citizens may have to take justice into their own hands through peaceful resistance -- by simply dropping out of the matrix.  In other words, don't pay your phony debts to criminal banksters.

By not paying your debts, you should expect the system's goons to rain down fear by way of phone calls and mail to you.  Additionally, you will certainly risk losing your esteemed Farmville status and, these days, you may even win a free trip to one of the oligarchy's private jails. 

However . . . you could just wind up gaining some independence from your manufactured stress and servitude.

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The problem with fiat money explained in 4 minutes

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Fed Ready to Print More Funny Money on QE3 Rumors

Dees Illustration

Kurt Nimmo
Infowars

Simon Maughn, co-head of European equities at MF Global, has told CNBC that a third round of so-called quantitative easing is in the works. The private Federal Reserve will again become the marginal buyer of bonds.

The latest effort by the Fed to finance the government’s staggering deficit will end in June.

If the private Federal Reserve owned by offshore banksters stops this lending scheme, interest rates will rise significantly which in turn will exert tremendous pressure on the American public. If interest rates surge anytime soon, millions of indebted Americans may default on their debt, thereby bankrupting the American financial institutions, as Puru Saxena, founder of Puru Saxena Wealth Management, notes.

Google to show off mobile wallet for Android phones

Using a mobile phone is likely to ease queues

BBC News

Google is set to introduce a mobile payments platform that will turn its Android smartphones into a digital wallet.

At an event in New York on Thursday, the tech giant is expected to show off the technology, called near field communication or NFC.

The technology allows devices to "talk" to one another wirelessly.

Consumers wave their phones in front of a reader at a checkout to pay for a purchase or to receive special offers.

How Many People Will Go Hungry When The U.S. Dollar Ponzi Scheme Collapses?

Dees Illustration

Market Bust

The U.S. Dollar which is not really even a dollar but rather a "Federal Reserve Note" is nothing more than a mirage in the desert.  Federal Reserve Notes are just that, Notes.  What is a Note? It is a formal piece of paper that says one person owes another money, in this case the Federal Reserve.

But what are they going to pay you back with? More Notes of course. And what makes these notes valuable? Nothing more than the belief of the people who use them.

And how are these notes created? Quite simply they are borrowed into existence. This means that Money is just debt. So if all of the debt were to be repaid tomorrow, there would be no more "official Money". FIAT PONZI CURRENCY NOT BACKED BY ANYTHING EXCEPT HOPE.

QE2 and the Fate of the U.S. Economy

Dees Illustration

Dave Galland
Casey Research

In the last few weeks, I’ve become particularly “attentive” to the intentions of Fed policy makers following the scheduled June end date for QE2.

This is no small matter; an actual shift in Fed policy – as opposed to the smoke and mirrors sort – could temporarily play havoc on equities and commodities markets alike. How could it be otherwise, when under QE2 the Fed has been writing checks to the Treasury in amounts of upwards of $100 billion a month since last November?

As a point of reference, at the end of April 2007, the monetary base of the U.S. was $822 billion. At the end of April 2011, it will be $2.5 trillion, a three-fold increase. Call it what you want, “quantitative easing,” “stimulus,” “political payola,” “madness,” but monetary inflation is the correct term. And monetary inflation on this scale invariably leads to price inflation on a similar scale.

It is this “money,” steadily ginned out of thin air, that provides the fuel to keep the spendthrifts in Washington spending and props up the wounded economy.

How In The World Did We Get To The Point Where The Federal Reserve Is Printing Money Out Of Thin Air Whenever It Wants?

The Economic Collapse

Ben Bernanke and the rest of the folks over at the Federal Reserve did not just wake up one day and decide that they wanted to start printing hundreds of billions of dollars out of thin air.  The truth is that the economic forces that have brought us to this point have taken decades to develop.  In the post-World War 2 era, when the U.S. economy has fallen into a recession, either the Federal Reserve would lower interest rates or the U.S. government would indulge in even more deficit spending to stimulate the economy.  But now, as you will see below, both of those alternatives have been exhausted.  In addition, we are now rapidly reaching the point where there are simply not enough lenders out there to feed the U.S. government's voracious appetite for debt.  So now the Federal Reserve is openly printing hundreds of billions of dollars that will enable them to finance U.S. government borrowing, and (they hope) stimulate the U.S. economy at the same time.  Unfortunately, the rest of the world is not amused.  Nations such as China, Japan and many of the oil-exporting nations of the Middle East have accumulated a lot of U.S. dollars and a lot of U.S. Treasuries and they are not pleased that those investments are now being significantly devalued.

So how did we get to this point?  Why is the Federal Reserve printing money out of thin air in a desperate attempt to stimulate the economy?

Well, the Federal Reserve has more or less exhausted all of the other tools that it has traditionally used to help the economy during an economic downturn.  As you can see from the chart below, the Federal Reserve has lowered interest rates during past recessions.  The goal of lowering interest rates is to make it less expensive to borrow money and thus spark more economic activity.  Well, as you can see, the Federal Reserve has no place else to go with interest rates.  Over the past 30 years, rates have consistently been pushed down, down, down and now they are kissing the floor....

Another way that the U.S. economy has been "stimulated" over the past 30 years is through increased government spending.  The theory is that if the government spends more money, that will get more cash into the hands of the people and spark more economic activity.  That was the whole idea behind the "economic stimulus packages" that were pushed through Congress.  However, increased government spending always comes at a very high cost under our current system.  Government debt is now totally out of control.  As you can see below, the U.S. national debt has exploded from about one trillion dollars in 1980 to over 13 trillion dollars today.  Currently, there is very little appetite in Congress for more government spending to stimulate the economy, especially after the results of the November election.

Most Americans don't realize it, but much of our incredible "prosperity" over the last 30 years has been fueled by the mountains of debt that we have accumulated.  Now U.S. government debt is exploding at an exponential rate....

Sadly, the U.S. government has absolutely no self-control when it comes to spending money.  Our politicians are absolutely addicted to debt.

The truth is that the U.S. government just can't seem to stop wasting money. One of the most comical news stories of the past few days involved the Recovery Independent Advisory Panel, which is a sub-committee of the larger Recovery Accountability and Transparency board.  This panel will be holding a meeting on November 22nd to discuss how to prevent "fraud, waste, and abuse" of economic stimulus funds.

So where will this meeting be held?

It is going to be held at the ultra-luxurious Ritz Carlton Hotel in Phoenix, Arizona.

Yes, seriously.

You just can't make this stuff up.

So if the Federal Reserve cannot stimulate the economy through lower interest rates and the U.S. government cannot stimulate the economy by spending even more money, what does that leave us with?

Unfortunately, that leaves us with either doing nothing or with having the Federal Reserve print money out of thin air and shovel it into the economy.

Sadly, even after months of news headlines about quantitative easing, most Americans still do not understand what it is.  The following is a short video that is very humorous but that also does a good job of simply explaining what quantitative easing is and why it is bad for the U.S. economy....

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Treasurys slip on more supply and Fed fears

Dees Illustration

Associated Press

NEW YORK — Treasury prices slid on Wednesday as the government pushed more bonds into the market and traders feared the Federal Reserve won't buy as many bonds as they had hoped.

In its third bond auction this week, the Treasury sold $35 billion in five-year notes at a yield of 1.33 percent. That's a slightly higher borrowing rate than what the government received in September's sale of five-year notes.

The Treasury fared better in this week's previous auctions, getting the cheapest rates on record for two-year notes and five-year inflation-protected bonds.

Buyers placed bids for 2.82 times the amount of five-year notes up for sale, the weakest show of demand in four months but still above the 12-month average.


Treasurys dipped early in the day after a story in the Wall Street Journal reported the Fed's bond buying program may wind up smaller than many thought. The report said the Fed would likely target a few hundred billion dollars in Treasury bonds after its meeting Nov. 3. Wall Street economists and bond traders had expected much more. Estimates ranged from $500 million to more than $1 trillion.

The 10-year note lost 65.6 cents to $99.12. The drop pushed the yield from 2.64 percent Tuesday to 2.72 percent. Bond prices and yields move in opposite directions.

The 30-year long bond fell 96.8 cents to $96.87, raising the yield from 3.99 percent to 4.05 percent. The yield on the two-year inched up from 0.40 percent to 0.41 percent.

The last of this week's auctions comes Thursday with the sale of $29 billion in seven-year notes. The Treasury expects to raise a total of $109 billion in this week's four auctions.

In Treasury bill trading, the three-month T-bill paid a 0.13 percent yield at a 0.14 percent discount.



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Silver Shines as an Economic Solution

Youtube - MorphCity

G. Edward Griffin discusses the US monetary system, fiat money, legal tender and the value of silver and gold.

Idaho State Representative Phil Hart explains the "Idaho State Silver Gem Act" that he authored and plans to re-introduce next year. The Silver Gem Act allows the State Treasurer to sell and accept silver medallions for people to use any way they wish. Silver transactions with the State would be penalty and premium free. The silver would be set at market value.

Read the article "Silver Shines as an Economic Solution" at MorphCity

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It’s the Dollar, Stupid

Kurt Nimmo
Infowars.com
September 27, 2010

For the sixth day in a row, the price of gold has skyrocketed. On Monday, the precious metal climbed to a 30-year high as fiat paper money values tumbled. Gold for immediate delivery rose as much as 0.3 percent to an all-time high $1,300.15 an ounce.

Instead of rushing into government created paper assets, investors are buying gold and silver.

Instead of rushing into government created paper assets, investors are buying gold and silver.

“There is a net devaluing of currencies,” James Moore, an analyst at TheBullionDesk.com in London. told Bloomberg this morning. Gold gained as Ireland prepares to bail out Anglo Irish Bank Corp. and speculation over European banks lacking adequate capital.

The dollar fell after Ben Bernanke announced the Federal Reserve is prepared to launch a new round of quantitative easing by buying millions of dollars of bonds.

The Federal Open Market Committee’s September 21 statement said it “will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery.” Quantitative easing is a term used when the Fed increases the size of the money supply and floods financial institutions with capital in order to promote increased lending and liquidity.

It should be noted that the Fed used quantitative easing during the first Great Depression. The Fed began to purchase securities in the open market in April of 1933 and eventually shifted to the Treasury and the White House through gold purchases. On August 28, 1933, Roosevelt moved to confiscate all gold held by citizens.

JPMorgan Chase & Co. said there is a 75 percent chance that the Fed will start another round of “asset purchases” before the end of this year to boost the economy, supporting Treasury bond prices, according to Bloomberg.

However, as Bob Chapman of the International Forecaster noted earlier this month, the Fed effort is doomed to fail in a spectacular way. “What the Fed has been approaching since June is a ‘liquidity trap.’ That is when loans are offered to business and they refuse to borrow. They stop using credit because they question the future of the economy, their government and the specter of new taxes in the future. Money and credit is available, but few want to assume the risks to borrow,” writes Chapman.

Instead of rushing into government created paper assets, investors are buying gold and silver. “This market is the exact opposite of the gold and silver markets, which are in an 11-year bull market. The metals separated from the dollar 15 months ago and they have already won the battle of the world’s only real currency. Gold has gained 15% a year for those last 7 years. This is a secular bull market and cannot be denied. Further, gold has appreciated annually against every currency,” writes Chapman.

Central banks around the world have moved into gold, a trend that began in the 1980s. India, China, Russia, and other nations have increased their gold reserves as fiat currencies hit the skids and the Greatest Depression picks up steam.

The continued gold rush and the remarkable rise in prices of both gold and silver represent a bellwether for the demise of the dollar. The decline of the dollar means millions of Americans will suffer a huge loss of purchasing power and a sharp decline in living standards. In fact, this process is now already well underway as unemployment rises and the middle class shrinks in size.

It is not the vagaries of the stock market or inept government economic policy that has ushered in the Greatest Depression.

The Federal Reserve is not run by clueless government bureaucrats. It is a subsidiary of the bankster cartel and federal only in name.

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The Greatest Depression now underway is an engineered event. The destruction of the dollar, the increase in the fiat money supply that will create merciless inflation, and the slow withering away of the middle class — all of this is part of the plan to remake the world as the globalists see it.

If the Greatest Depression is allowed to continue unabated — and it looks like it will — billions of people will be reduced to serfdom under a global government scheme cooked up by the elite.

–

Kurt Nimmo edits Infowars.com. He is the author of Another Day in the Empire: Life In Neoconservative America.

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Why Hyperinflation is Coming and How to Prepare Now

Eric Roseman
Sovereign Investor

“We all keep worrying deflation, but it can turn so fast” – Adam Fergusson

Back in 1980 when my late grandfather, Abe Roseman, passed away, I inherited numerous personal items. These included tie bars, cufflinks, his old desk and lamp, and several other reminders of my childhood that to this day always put on a smile on my face.

Thirty years later, rummaging inside my late grandfather’s desk, I found 55 ounces of silver. Somehow, after all those years, I failed to pry open every drawer; what a surprise! How did he know I was a silver bull?

Or, perhaps, he wanted to be prepared for hard times.

Wisdom in Experience

I was pretty close to my grandfather. Abe was born in 1911 and lived through the Great Depression in Montreal. My grandmother would later remind me how bad things were in Canada at the time with unemployment at absurdly high levels from coast-to-coast. My grandparents knew how to be frugal and understood the value of money.

My generation (I’m in my early 40s) doesn’t know what it means to suffer an economic catastrophe; but we came darn close in 2008. I think we’re already in a “soft” economic depression. By “soft” I mean that without government backstops two years ago, we’d see blood in the streets, civil chaos and, possibly, runaway inflation by now.

In my view, this is a depression.

When 2 Million Marks Won’t Buy a Loaf of Bread

One item I inherited from my grandfather in 1980 was a bunch of old German bank notes, neatly tucked away in a plastic folder. At the ripe age of 14, I had no clue what these bills were worth, let alone what the German inscription meant. So I just buried Grandpa’s stash in my safety deposit box for the next 30 years.

Last month, however, I decided to review the causes and effects of the German Weimar Republic’s hyperinflation in the 1920s. I went to the bank and got Abe’s German notes. To refresh my history I read Adam Fergusson’s When Money Dies, first printed in 1975. I urge every investor to grab a copy ahead of “Quantitative Easing Part II” this summer.

It turns out my grandfather kept a bunch of German marks from periods ranging from 1922 to 1924; the note below is a scan. The amount is Zwei Millionen Mark or 2 Million Marks printed on Aug. 15, 1923 – exactly the same year that mind-boggling inflation started to run out of control in Germany.

Unbelievably, two million marks could barely buy a loaf of bread. Within hours, prices would escalate rendering that loaf to 3 million marks, four million marks etc. German paper had become almost worthless. Hyperinflation wiped out the entire middle class.

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The Impact of Fiat Money as the World’s Reserve Currency

David Redick

Activist Post

The creation of fiat official government money has had a profound effect in history and on our nation and the world today. "Fiat" means it is worth whatever the government says it is (its face value), although the material of which it is made may have more or less intrinsic market value.  Examples would include both valuable silver dollars and worthless paper, each declared to be worth $1; and today’s American Eagle bullion coin with a face value of $50 for one ounce of gold. 

Normally, when a country creates too much fake money, sellers avoid it for payment, or stop buying its bonds due to its falling value, and the party is soon over. However, the U.S. is in a unique positionnever seen in the history of the world. Our fiat paper money is the primary de facto world’s "reserve currency" (anyone will accept it for payment and keep it as cash, or as a dollar-denominated asset; banks keep it as their reserves, like gold). We can create new money out of thin-air, and sellers of goods and services worldwide will accept it.   We can also pay our debts with it, even as the federal government spends to excess. 

We have abused the privileged status of the U.S. dollar in many immoral and counterproductive ways. It is the underlying cause of our major problems, such as jobs being exported due to excess imports of goods (other countries would run out of money; the U.S. can create more as needed!), strange banking and securities deals based on loose money, excess personal spending and debt, and wars. 

One cannot underestimate the importance of our ability to pay debts to other nations, and not be required to convert to their money. This conversion would normally trigger market valuation, which could collapse the value of the U.S. dollar.  Conversely, other nations must buy dollars to pay for most imports, and face declining exchange rates if they have expanded their money supply too much. We have abused this reserve status, and as of mid-2009 other nations started seeking alternatives (yuan, yen, a basket of currencies, etc.). 

Most people are not aware that the reserve currency is used for most payments between other nations; for example, India pays Brazil for coffee with U.S. dollars. Hence, all nations keep a supply of U.S. dollars to use in trade. All banks are required to have sufficient reserves in order to show a strong asset base for the bank’s obligations (mainly demand and time deposits). Since the USD has been valued by the world system to be "as good as gold," it is known as a reserve currency and used instead of gold to fund these bank reserves. The Dollar has been used in about 90% of international transactions since its ascendancy in the 1920s, but has become weaker since 2000, and declined to 70% or less by 2009. About 30% of international deals are now done in Euros and Yen, but that is increasing as the economies and currencies of China and others grow stronger. Indeed, China started using its yuan for international transactions in 2010, and also allowed foreign firms to create yuan-denominated private equity funds.

There have been a series of international agreements to manage currency. The International Monetary Fund (IMF) and World Bank were born of these deals. Both are counterproductive causes of spending and distortions (including feeding corrupt governments), and should be abolished along with the Federal Reserve. 

Redeemability was restricted more and more until the 1944 Bretton Woods agreement, which set rules to: 1) Allow only nations to redeem paper for gold between each other (not people; a form of the Gold Bullion Exchange standard).  2) Create the International Monetary Fund (IMF) to handle its transactions.  3) Set the USD as the world's official reserve currency, with a fixed value of $35 per ounce of gold. 

The US engaged in so much monetary expansion (inflation of the money supply) after WW2 it lost much of its value and flooded Europe with so-called Euro-dollars. France finally started demanding gold for most of their paper dollars, which peaked with De Gaulle’s famous press conference on Feb. 4, 1965 where he described the U.S. as having an "exorbitant privilege" as the world’s reserve currency, which allowed us to pay our debts with money created out of thin air!   De Gaulle said: 

There can be no other criterion, no other standard, than gold. Gold that never changes, that can be shaped into ingots, bars, coins . . . that has no nationality and that is eternally and universally accepted as the ultimate fiduciary value par excellence. 

France started redeeming their paper dollars to gold, but Nixon soon refused to remit gold to any nation (we were running out), and then abrogated Bretton Woods on Aug. 15, 1971, setting the dollar "afloat" with no redeemability. Within a few years, all nations had done the same, including conservative Switzerland. Whoopee! Everybody could make money out of thin air! 

The Fed destroys the value of our money by excess expansion of the money supply. Proof is shown in the start and end purchase power amounts below, which are from www.measuringworth.com:

It took $1,202.05 in the year 1912 for the same purchase power as $1,000 in the year 1774 (a 17.7% loss in 138 yrs, or 0.13 % per yr).

It took $22,427.40 in the year 2008 for the same purchase power as $1,000 in the year 1913 (a 95.5% loss in 95 yrs, or 1.0% per yr). Almost eight times worse than before the Fed!

A decline in purchasing power of the dollar, and thus price increases, always follow a rapid and excess (over 5% per year) increase in the money supply (monetary inflation). As shown below, the dollar has lost 95% of its value from 1913 (when the Fed started) to 2010, but 80% of that loss occurred after Nixon cut the Bretton Woods tie to gold in 1971, increasing the money supply even faster. Other factors, such as a reduced supply of goods and services, can cause price increases, but monetary inflation clearly has caused the most harm:

Source: Byron King, www.agorafinancial.com

The US dollar has lost over 95% of its purchasing power since 1913 due to excess monetary inflation by the Fed by creating new money to pay bills. This has been the main cause of the 2,000% increase in prices since 1913. Excess money creation prior to 1913 resulted in short-term inflation and panic runs on insolvent banks, but the Fed allowed long-term abuse by bailing-out such banks, which in turn caused the moral hazard of the banks taking excess risks by seeking casino profits for the last 97 years and counting!

A special monetary expansion event occurred in late 2008 when Bernanke produced the now infamous Bailout Spike by injecting almost $1 trillion of new money into the U.S. economy. On April 15, 2008, the Fed held $866 billion in assets, which served as the monetary base for the nation.  On April 15, 2009, it held $2.2 trillion. A decline in purchasing power of the dollar will follow this increase in the money supply.

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