See: Fed Reconsiders 'Measured' Pace as Inflation Pressures Mount by Art Pine [Bloomberg] See: Will the Coming Monetary Crisis Provide Opportunity for Reform? by Dr. Edwin Vieira, Jr. See: Washington, We Have a Problem... Kurt Eichenwald [NY Times] See: Fiat Money Inflation in France [an online e-book] by Andrew Dickson White See: Economics 101 -- A Curriculum by Catherine Austin Fitts Ole Bear, Editor, Commentary Measured Paces to the Guillotine Excuse me, but I can see nothing measured about a central banking system putting its hands in my pockets and in my checking and savings accounts and stealing from me by the Art of Financial Warfare... inflation of the fiat money system. This is stealing, not only from me, but every man, woman, and child in the country. This is what I call financial rape at the hands of the central banking system and Mr. Greenspan and Mr. Bernanke's Federal Reserve Piracy and Ponzi Schemes. Bernanke sure is correct when he says that he and the FED boys and girls have a printing press! On the one hand these rascals are stealing our wealth, and on the other hand, we are under the illusion that we all are getting rich because of our inflating real estate prices. Real estate prices which increase over time because of real recognized market forces at work is one thing I can support in the marketplace. Real estate that goes up in price because of the destruction of our money system is another thing in the Ponzi Shell Game of legal tender paper funnie monie. The illusion of wealth becomes incentive to pile more debt on our real estate through refinancing and bogus 125-150% home equity loans. This is what I call an inverted debt pyramid setting on shifting sands. Dr. Vieira serves up another essay on the money system and the FED. It is not a very fun read. Imagine waking up one day to find that the world changed [ughhh... it's been changing right before our eyes for a long time, perhaps?], and that your money no longer functions. Impossible? Not really. Argentineans got a 4 to 1 reverse split on their peso pegged to the US Federal Reserve Note [ehhh, US Dollar for you dummies out there, which ceased to exist in the late 1960s]. That was just a few years ago like in 2001 and 2002. The smart money in Argentina, got their money out of the country before it devalued. Knowing what was happening, the Argentinean government clamped down on sending money out of the country. Their government also imposed a whole bunch of other rather nasty and Draconian measures to avoid a Revolution. Some of their provinces or states printed their own local money in lieu of pesos and US$s [Federal Reserve Notes]. To put money into tangibles that would not lose value quickly, the smart money bought brand new Mercedes on credit cards. [It] Didn't matter if you had money in the bank. You could only take out so much in cash in a given month. Their real estate loans, however, were denominated in US Federal Reserve notes. In the 4 to 1 reverse split, it took four times as many pesos to pay off a FRN of debt, once the peso became unpegged at parity with the buck. Nope, the buck dudn't stop there, either. If we look at the assignat of Revolutionary France, it is a pretty nasty story as well. We provided an online link to this classic tale of woe written during the 1870s. The merchant class and smart money in France at the time knew they were getting screwed by all the paper money, and went for the real gold and silver. The Revolutionary Leaders in France made this illegal to deal in real money, and made it a crime punishable by sending folks to the guillotine for not accepting the paper money, because they dealt in gold and silver specie. That is definitely a Draconian measure, don't you think? At the time of the American Revolution, the Articles of Confederation after the Revolution, and the formulation of the Republic under the US Constitution, the Spanish Piece of Eight based on a silver content of 371.25 grains of fine silver was in common circulation as real money. In fact, the coins were minted such that they could be cut up into smaller pieces to be used as money. Ever heard the phrase, "Two bits, four bits, six bits.... a dollar?" The bits refer to the bits of the piece of eight. One bit was 12 1/2 cents or 1/8th of the piece of eight. The Founding Fathers of the Republic understood economics, and the implications of having a sound money system, to protect the political system, property rights, and individual freedom that the country was founded on. The New York Times article above is about the Enron scam, and should make for a pretty good read by the author of Conspiracy of Fools. We also provided a link to Catherine Austin Fitts on Economics 101. You can find other interesting stuff at www.solari.com. Sound money systems are essential to civil liberty, real freedom, and private property rights, including real estate. Sound money protects these fundamentals. When one understands the Draconian measures that politicians, the courts, political systems and central banks will use on an Unsuspecting American Public to keep Ponzi Money and Ponzi Finance Schemes in place given a financial meltdown or monetary crisis, this certainly is a Brave New World, is it not? Berlioz's Symphonie Fantastique has one of the movements named "March to the Scaffold." Putting this music in proper perspective, why don't we just call it -- "Measured Paces to the Guillotine," instead. I am sure Berlioz wouldn't mind one piece of eight. Yours Truly,
Ole Bear, Editor © 2005 Realty Reality |
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