Out The Back Jack

Some people prefer to listen to Buffet than me, so read on. He is very good at promoting what to do after he has done it and will benefit by it. Still, good advice. Again, my suggestion is:  peanut butter and silver coins.

The article, below, is simple to the extreme and designed to sell something, but it remains a good reference for many to consider. What I have been warning against for years is now part of marketing assumptions. The great new thing mentioned, but not by name, are bitcoins. 

What is striking is the U.S. Government is NOT going after alternative currencies, as they did a few years ago. This means it is  deemed in the best interest of the oligarchy to have a way out of dollars and for those in the know to survive the coming problems. Just five years ago, the FBI was rounding up anyone who attempted to start an alternate currency, one directly backed by gold. Now, the Treasury Department calls them bad names.  

Curious.

Now, what is the take away, here?

"Run From Paper Money," Buffett Warns

By MONEY MORNING STAFF REPORTS

As the Fed continues pumping $85 billion a month into the U.S economy, further ravaging the dollar’s value, Warren Buffet issued a harsh warning to investors:  “Run from paper money.”

The world’s most famous investor delivered his blunt advice in a riveting interview on CNBC, saying investors should fear the dollar because it will be “worth less and less over time."

“Paper money has a lousy future,” Buffett said, adding that Americans should run from it as fast as they can.

As it turns out, thousands of Main Street Americans are already dumping their dollars – and turning to a radical new form of money.

In fact, as the U.S. dollar reaches a startling two-year low – its weakest since November 2011 – and with consumer confidence dropping like a rock – this new form of money is becoming a powerful force on currency exchanges around the world.  

[This is marketing crap so people can pretend they are in the inside of "bitcoins." Bitcoins, as you will read, below, is very popular.  It may be too popular as it growing as a hedge against a falling dollar.  Good argments can be made that is it in a bubble, now, as one coins costs a multiple of the cost of "mining" it. Economics always wins these battles, but economics also includes the devaluation of the dollar. It is a speculative exhange from USD.]

Often referred to as Edison-Ford Dollars, this new radical currency bears a striking resemblance to a type of money first created by American icons, Thomas Edison and Henry Ford at the turn of the 20th century.  (HOMEWORK)

But the U.S. Department of Justice calls it (bitcoins) a “renegade currency,” because while it protects Americans from a decaying dollar, it also threatens Central Banks like the Fed which control fiat currencies around the world.

“Ordinary Americans love this currency, yet politicians are terrified of it,” said Michael A. Robinson, a Pulitzer-Prize nominated investigative reporter and former Board Member of a major Silicon Valley Venture Capital Fund who spent the last two years analyzing this “renegade currency.”

“Governments fear this money could hasten the end to paper money– and start a powerful revolution,” said Robinson.

Some analysts believe the revolution has already begun. 36 cities across 20 states already allow citizens to pay for everything from water bills to parking tickets with it.

And according to the latest figures, nearly 700,000 American businesses are now turning to it, including Wal-Mart, CVS, Lowes and Nike.

International acceptance is surging too, and economists predict this “renegade currency” could usher in a new international monetary system.

“This growing revolt is causing people to abandon not just the dollar but the EURO, the Pound, the Yen…you name it,” said Robinson.

“It’s a stateless currency,” Robinson adds. “There’s no central bank, no central computer, no center to attack.”

“What we’re witnessing,” Robinson said, “is a global rebellion against the Fed, against all Central Banks. A harsh dose of medicine to many, overblown power structures.”

Unfortunately, Robinson says the mainstream media is still keeping the American people in the dark about how this currency works. 

Robinson spent two years analyzing every facet of this currency. He interviewed dozens of CEOs, investment funds and other major players involved with this new currency. He talked extensively to his network of contacts in Silicon Valley to get a read on where this currency is heading.

He’s now made all that research available to average Americans. And what he reveals may shock people. It completely redefines the way we think about money.

His research also serves as a wake-up call regarding the systematic problems facing our government controlled money supply– and how they this “renegade currency” could actually free citizens from being subjected to the whims of central banks around the world.

“Something like this has never happened before in history,” Robinson said. “Since 2009 we’ve had ungodly amounts of money printing, quantitative easing, and zero percent interest rates as far as the eyes can see.”

“Remarkably, this new currency makes all those problems unnecessary and even obsolete.”

The Eve of De$truction

If you happen to believe news reports, all is well  Inflation is under control, so those Social Security benefits do not go up, and the jobless rate is just great, if you are still in the job market in North Dakota. Below is useful bit of news from Porter Stanserry's recent appearance:

...In December 2008, I began warning about the risk that the U.S. could lose its "world reserve currency status," something I termed the "End of America." It's worth looking at what I wrote almost five years ago because so much of what I feared would happen has come true... you should go read that essay.  

...The Fed went on to print and spend more than $3 trillion. The prices of stocks and commodities soared. The dollar fell versus sound currencies around the world. And the prices of U.S. goods and services, even domestically made products, soared.
Now, some folks who have followed my research from the beginning might point out that I predicted the U.S. would begin suffering from severe inflation as early as 2009. With the consumer price index hovering around 1%, isn't that inflation overdue?

That is the set up, continue on:

If you look beyond the government's manipulated numbers and focus on the real prices people are paying… you'll see price inflation is here and getting worse… 

As I've written extensively… inflation is found everywhere in our economy, except in the government's statistics. Corn, the most important food crop in America, is up 75% since 2008. Gasoline is up from $2.25 a gallon to more than $3 a gallon – an increase of more than 30%. The nationwide minimum wage is up by 40%. Rents are up by 25% nationwide and up 40% in most urban markets. 

And my favorite example, the base price of a Ford F-150, the best-selling passenger vehicle in America, has gone from $18,225 to $23,670 – a 30% increase. That's a domestically sourced and manufactured product… its price is completely dominated by the value of the U.S. dollar. 

Meanwhile… the government says there is no inflation… and that continuing to print $85 billion to buy government and mortgage debt is merely "interest-rate policy by other means." What could go wrong?

Buffett:

Billionaire investor Warren Buffett has sagely warned that buying all of those bonds and manipulating interest rates to stupidly low levels will prove to be much easier than selling them. The fact is, the moment our central bank begins to sell U.S. Treasury bonds, the whole world will follow. After all, our dollars aren't needed in trade for most of the big commodity countries. So the free ride will be over. All the traders ...will surely change course the moment it starts to sell.

The New America = The Old Europe

And what, you might wonder, have our noble leaders done with all the money and credit they've created? 

Mostly, they have expanded the welfare state at the fastest pace in history, creating more dependency in your fellow citizens than has ever existed before in the history of our country. There are now almost 100 million people collecting food stamps, disability, or long-term unemployment. Barely 60% of the adult population of America bothers to go to work, even on a part-time basis. 

On the backs of the poor schleps in America who paid their mortgages and still go to work, a gargantuan pile of debts and obligations have been piled higher and higher over the last five years. Total debt now approaches $60 trillion. Federal debt has nearly doubled in the last five years, from $9 trillion to $17 trillion. And our governments (state, local, and federal) continue to take up more and more of our economy – comprising more than 40% of our roughly $15 trillion gross domestic product (GDP) today....

I have long argued that the collapse of the currency and economy is a planned event.  It is supported by the childlike minds of those who confuse academic hopiness with reality.  The tsunami is not a projection, it is only far off shore.  You cannot stop a tsunami, you can only protect yourself and get away from the all the excitement of the beach.  Most people understand there is something seriously wrong:

Gun ownership in America now stands at 47% of all adults – that's near the highest percentage ever recorded by Gallup...The percentage of self-described liberals who own guns has grown from 30% to 40% in that period. So even folks who don't believe you should own a gun have been buying them... 

....And that's why… despite the central banks' efforts to manipulate the paper price of gold down… there are never any gold coins left to buy. That's why the price of farmland has soared (as I predicted it would). That's why more and more wealthy people are leaving America. And that's why… I firmly believe… this ongoing bull market will end very, very badly.

*   so far this year, more than 40% of the exchanges involved the euro. Only 33% involved the dollar.


If you This is the key: there are not many places to put money for safte keeping.  The US Dollar has been OK because Europe is on the front line of collapse. Our system is based upon banking logic, not a real economy. One day traders will wake up and see others selling off out Treasury debt because it is a bad investement. Why?  Because the Fed has been creating money to buy the debt and has decided it better start selling off trillions of dollars of debt

The market becomes flooded and an old fashion run accelerates causing the wave of panic to back upon itself. The film Margin Call gives you a good idea how this works.  Or, Its a Wonderful Life.

Don't be on the beach.

Bilderbergers Meet Again

Just a short one for tired readers.

Ray sent me the context of Sotomayor's remarks about Latina. I will drop it in here next time. Not having read the context, yet, I am interested in the notion that what she said could be out of context. If it is, it will be a classic example of how one (me) should not assume excerpts mean what they say. I should never rely on journalists, anyway, but you can't look everything up.

The key is what her view of a judge is. I think most people don't understand they are not responsible to find fact, they are responsible to conduct matters according to due process. That is what is meant by not making law. It is one thing for Congress to make a law, which can be reviewed under Constitutional provisions, but another for the Court to do it, such as the Roe v. Wade case, which is a departure from the role of the Court.

The majority made up new law because the majority wanted the result, not because it was supportable by precedent. The Vermont Supreme Court made up the social contract (there are non lawyers on the court) by deciding it flows from the Dred Scot decision. This makes zero sense. To understand the system, now realize that present judges who are conservative, with a small c, will give deference to Roe, etc., as it is precedent. The weird Vermont decision was not reviewable by anyone, even the U.S. Supreme Court, so it made up law. To its detriment, the legislature just shuffled along.

As Greg says, in a means analysis, the legislature should have ignored the instruction to create a law that met the Court's decision (I am not making this up) and should have rejected the usurping of power. The legislature is free to make laws, but it has to defend its own turf.

Chief Judge Roberts testified at his hearings that as a Court member, he must apply law and precedent (which can be changed if a proper case is brought) and Roe is law regardless of any personal opinion. This is what I call system's analysis, the proper way to protect the Constitution.

Judicial activists say - Oh the Constitution is so old and made up by dead white men, so we can change things to make them modern, for example, that, for some magical reason, abortion is legal for three months. Why? Activists wanted the outcome, bringing in their own views and desires, and do back flips to sound like they are traditional jurists. This is ends analysis is, to my mind, the end of the grand experiment. Ends analysis is anarchy and tyranny. The government will do what it can get away with, then it won't care, as it will have control.

So, I will see what Sotomayor thinks. The quote being used these days suggests she wants to make law based on her sex and personal experience. That is anathema to the conservative, so that may be why it was lifted and promulgated. Her personal experience is irrelevant to a traditional jurist's mind. In fact, she would be highly regarded when her personal opinions are unknown or put aside; they have no place in judicial work. I will get to this soon.

I recall one case from law school where this point was made. In a criminal case the defendant said he was at a certain location to make a night deposit. The Judge knew there was no bank deposit box at that bank, so in his rulings he had the testimony, essentially, destroyed. The appeal court said, no - you do not bring in you knowledge; it is not your job. The lawyers dig out the facts and offer evicence to the jury. Sure, mistakes can be made, but do you want judges telling the jury what to think?

(Ray, looks like a good kayak place at 2123 Central Ave, Albany called Paddle 'n Pole.)
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Here is an interesting report on the current Bilderberg meeting.

I like the notion that people assume that this talk about the Bilderbergers, the CFR, and so on is part of some nut conspiracy and don't even try to put 1 and 1 together. Now, if you say evil Republicans are meeting to make money, then you have a Congressional hearing. There must be a way to make money on self-imposed blinders. Gold, I guess, but they can take that away. A puzzlement.

Below, note the talk was of a short crash, rather than a long one. If the "recession" is short it must be deep to meet the goals of creating chaos......new government. If you apply this filter to what has happened in the past few years, especially this year, it is obvious what is going on. This clarity lends credibility to the filter, though doesn't prove it.

An excerpt for fun:

..Shortly after the meetings began, Bilderberg tracker Jim Tucker reported that his inside sources revealed that the group has on its agenda, “the plan for a global department of health, a global treasury and a shortened depression rather than a longer economic downturn.”

Tucker reported that Swedish Foreign Minister and former Prime Minister, Carl Bildt, “Made a speech advocating turning the World Health Organization into a world department of health, advocating turning the IMF into a world department of treasury, both of course under the auspices of the United Nations.” Further, Tucker reported that, “Treasury Secretary Geithner and Carl Bildt touted a shorter recession not a 10-year recession ... partly because a 10 year recession would damage Bilderberg industrialists themselves, as much as they want to have a global department of labor and a global department of treasury, they still like making money and such a long recession would cost them big bucks industrially because nobody is buying their toys.....the tilt is towards keeping it short.”[2]

After the meetings finished, Daniel Estulin reported that, “One of Bilderberg’s primary concerns according to Estulin is the danger that their zeal to reshape the world by engineering chaos in order to implement their long term agenda could cause the situation to spiral out of control and eventually lead to a scenario where Bilderberg and the global elite in general are overwhelmed by events and end up losing their control over the planet.”[3]

On May 21, the Macedonian International News Agency reported that, “A new Kremlin report on the shadowy Bilderberg Group, who this past week held their annual meeting in Greece, states that the West’s financial, political and corporate elite emerged from their conclave after coming to an agreement that in order to continue their drive towards a New World Order dominated by the Western Powers, the US Dollar has to be ‘totally’ destroyed.” Further, the same Kremlin report apparently stated that, “most of the West’s wealthiest elite convened at an unprecedented secret meeting in New York called for and led by” David Rockefeller, “to plot the demise of the US Dollar.”[4]

The Secret Meeting of Billionaires

The meeting being referred to was a secret meeting where, “A dozen of the richest people in the world met for an unprecedented private gathering at the invitation of Bill Gates and Warren Buffett to talk about giving away money,” held at Rockefeller University, and included notable philanthropists such as Gates, Buffett, New York Mayor Michael Bloomberg, George Soros, Eli Broad, Oprah Winfrey, David Rockefeller Sr. and Ted Turner.... [This part of any conspiracy needs a mild suspension of belief, I should think, but not a dismissal.)

Bilderberg founding member David Rockefeller, Honourary Chairman of the Council on Foreign Relations, Honourary Chairman and Founder of the Trilateral Commission, Chairman of the Council of the Americas and the Americas Society, former Chairman and CEO of Chase Manhattan.