And the Antidote to the Great Fiscal and Monetary Crisis Is ...
"Fiscal trouble ahead for most future retirees." Or so the Washington Post tells us in a recent column explaining why future retirees (Baby Boomers) are headed for considerable trouble. Grim reading, actually.
For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation's elderly, according to a growing consensus of new research.
This is worth commenting on because it only illustrates a larger point we've made a number of times: The system is broken and if you listen to mainstream financial advice you're going to end up homeless on a soup line hoping for dinner.
What is pernicious about articles like this one, in my humble view, is that they purport to be telling the truth but don't provide either context or historical accuracy. Here's more from the Post article:
The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans. And the full extent of the damage is only now being grasped by experts and policymakers. There was already mounting concern for the long-term security of the country's rapidly graying population. Then the downturn destroyed 40 percent of Americans' personal wealth, while creating a long period of high unemployment and an environment in which savings accounts pay almost no interest. Although the surging stock market is approaching record highs, most of these gains are flowing to well-off Americans who already are in relatively good shape for retirement.
Liberal and conservative economists worry that the decline in retirement prospects marks a historic shift in a country that previously has fostered generations of improvement in the lives of the elderly. It is likely to have far-reaching implications, as an increasing number of retirees may be forced to double up with younger relatives or turn to social-service programs for support. "This is the first time that Americans are going to be relatively worse off than their parents or grandparents in old age," said Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis at the New School for Social Research.
Advocates for older Americans are calling on the federal government to bolster Social Security benefits or to create a new layer of retirement help for future retirees. Others want employers and the government to do more to encourage retirement savings and to discourage workers from using the money for non-retirement purposes.
But those calls have been overwhelmed by concern about the nation's fast-growing long-term debt, which has left many policy-makers focused on ways to trim Social Security and other retirement benefits rather than increase them. The economic downturn exacerbated long-term factors that were already eroding the financial standing of aging Americans: an inexorable rise in health-care costs, growing debt among older Americans and a shift in responsibility from employers to workers to plan for retirement.
The article never explains the "Great Recession" but merely asserts it – like a fact of life. We are supposed to accept that these things occur without searching for the cause. But those who don't understand history are doomed to repeat it.
There were, of course, those who understood quite clearly what was about to happen. They did their best to warn us but the powers-that-be (and general population) remained complacent. Late in 2007, things took a turn for the worse. The economy began to crash and by 2008 the devastation had spread to the rest of the world and the "sovereign" debt crisis had begun to afflict Europe.
In Greece, Spain, Portugal – most of Southern and Eastern Europe – retirements have been reduced or have evaporated entirely as a result of the "Great Recession." In the US, tens of millions lost 50 percent of their life savings or more in the ongoing crashes of 2007 and 2008. And today, tens of millions more don't have anything else to lose.
While once children could have supported their aged parents, the current crisis has reduced the employment prospects for young people in much of Europe to nearly nil. None of this was expected by those involved but a lot of it was predicted by those who understood monetary history and were aware of its goals.
One can argue, of course, that this was part of a larger Money Power strategy to create a fiat dollar – and shove the world toward a single currency. If so, then the rest of the West's (especially the US's) monetary history makes a lot of sense. Sovereign overspending was utilized to generate the justification for a deal with Japan. Japan would buy US treasuries and US consumers would purchase Japanese products.
This elevated some Japanese companies to world class status and also made Japan a more consumerist and Westernized society. The same sort of thing happened in China in the later 1990s and 2000s. Africa is apparently next on the list to be consolidated. In each instance, a case is made for the transformative effects of capitalism but unfortunately, it is not capitalism that is being created but a kind corporatist mercantilism.
The Washington Post article seems to yearn for the past, when government programs were seen as helpful and effective. Here's the important graf:
The precarious situation comes after a long period of change that improved life for the nation's seniors starting with the enactment of Social Security in 1935. By the 1960s, retirees also benefitted from universal health insurance through Medicare and Medicaid, sharp increases in Social Security benefits and new protections enacted by the federal government for workers who received traditional pensions, which for decades were a standard employee benefit. The changes rescued millions of retirees from poverty, while lifting millions of others to prosperous retirements symbolized by vacation cruises, recreational vehicles and second homes. But now problems for future retirees seem to be closing in from all sides.
You see? This is a sentiment that is beyond simplistic. It is dangerous. The more that people put their trust – and financial health – into the proverbial hands of the state, the more apt they are to end up without the security they've counted on. We can see this today. It is not a hypothesis but a reality.
Historically speaking, modern corporatist states are not run for citizens' benefit. The concern that is expressed, the dialogue that is being presented every day, are merely distractions. Think of how many billions of words have been written about Western retirements, how to save for the future and how to invest in a profitable way. Despite all that has been talked about, written and otherwise presented, the current system is wrecked and people's prospects are getting worse not better.
Lately, I've noticed an uptick in people's positive emotional response to the markets and the economy. But the same misinformation and economic manipulation that occurred before is occurring now. Central banks have dumped tens of trillions into the larger marketplace and when that money begins to circulate rates will have to be raised and recoveries, such as they are, will be cut short. The dollar reserve system itself must be seen as in a kind of terminal decline as well. Sorry, folks.
Let price inflation move up even a little, and the carrying costs of US debt will likely become insupportable. These trends simply aren't being explained on a regular basis. Instead, we get alarmed articles about how a US "savings deficit" has to yield to targeted, government oriented financial programs. Alternatively, we get widely publicized policy battles about deficit reduction and continued and expanded "austerity." But neither government programs nor austerity will help salvage the larger economy, in my opinion.
Here's the good news, though: You don't have to worry about it.
There are practical steps you can take to help yourself. Some of them you'll find right within the pages of this website, TheDailyBell.com. Don't wait for government. Don't keep hoping that bureaucratic "wonkery" will come to the rescue. Recognize you have to do it yourself.
There are, of course, certain kinds of equity opportunities that you can invest in – if you can find a trusted advisor. And there are – or should be – steps you can take to move some of your holdings offshore and into precious metals or even real estate. There are plenty of other positive steps you can take on your own and within your community to ensure your and your family's safety.
We are still being taught to look toward government for the solution to our private retirement dilemmas and general prosperity. The last century should have taught us that this is a chimera – what we like to call a dominant social theme – that government and public spending are a substitute for individual responsibility.
Unfortunately, no matter how many articles are written, or how much is broadcast, reality doesn't change. The person responsible for you is ... you. And if you are to have a good and hopefully prosperous life, you will have to take action to make it so.
Posted by Abu Aardvark on 02/26/13 04:29 AM
Bischoff: "The road map on how our government should work was well thought out and laid down some 227 years ago. This road map is as valid today as it was at the time it was created."
To the contrary, Bischoff, this 'road map' predictably lead the US to where they are today:
"... the American Constitution must be recognized for what it is - an error.
As the Declaration of Independence noted, government is supposed to protect life, property, and the pursuit of happiness. Yet in granting government the power to tax and legislate without consent, the Constitution cannot possibly assure this goal but is instead the very instrument for invading and destroying the right to life, property, and liberty. It is absurd to believe that an agency that may tax without consent can be a property protector. Likewise, it is absurd to believe that an agency with legislative powers can preserve law and order. Rather, it must be recognized that the Constitution is itself unconstitutional, i.e., incompatible with the very doctrine of natural human rights that inspired the American Revolution.
Indeed, no one in his right mind would agree to a contract that allowed one's alleged protector to determine unilaterally, without one's consent, and irrevocably, without the possibility of exit, how much to charge for protection; and no one in his right mind would agree to an irrevocable contract which granted one's alleged protector the right to ultimate decision making regarding one's own person and property, i.e., of unilateral lawmaking."
Click to view link
Posted by Bischoff on 02/25/13 06:39 PM
@ the ranger
RANGER: "... by the spawn of FDR: Johnson, Obama, Pelosi, Reid and Schumer."
BISCHOFF: FDR didn't spawn Johnson, Obama, Pelosi, Reid and Schumer. FDR set the example of how to shamelessly take advantage of basic human instinct by promising something for nothing.
As to prosperous retirement, it isn't possible for the average person to provide for his retirement without a redeemable currency regime.
In 1933, FDR confiscated the gold savings of the American people, and he prevented them from holding gold in the future. This left Americans unable to save for old age. Instead, the Congress promised the American people that the federal government would take from present workers and give to present retirees in order to survive in old age.
Is Social Security a transfer payment... ??? Yes, indeed it is. However, it also is a promise by the federal government to see that people survive in old age to compensate them for confiscating their gold savings and takingh away their ability to save for old age on their own.
Ask anybody whether they want Social Security or their gold back... With the speed at which money is now being inflated, I bet there are very few people who wouldn't opt for the gold.
Posted by theranger on 02/25/13 04:35 PM
Gentlemen: Secure prosperous retirement is the result of delayed gratification, thrift, self control and being deaf to the siren song of the welfare state--not government wealth transfer.
The American Indian has literally been exterminated by the very government that put a gun to his head at and promised to feed him. The killing fields this time will be the bedrooms of Americans denied treatment and prescribed hospice care by the spawn of FDR: Johnson, Obama, Pelosi, Reid and Schumer.
Posted by 1776 on 02/25/13 11:56 AM
How the Fed Could Fix the Economy-and Why It Hasn't By Ellen Brown Global Research, February 25, 2013
Click to view link
Posted by Bischoff on 02/25/13 07:27 AM
@ the taxman
You are much too pessimistic. True enough, we are a country of "low information" voters who are easily persuaded to vote for big government by being appealed to on basic human instinct. The instinct to sustaining oneselves without work is genetic. However, natural law proves that to be impossible for humans living in the environment they do.
Prosperity created by past had work lasts only so long, unless it is supported and maintained by work presently performed. When prosperity runs out and government can no longer "give things" to the "low information" voter, the politicians who rely on their vote are toast.
There is nothing like the realization that one doesn't know how to come by the next meal. That realization is like being hit on the head with a 2 x 4" piece of wood.
People are not dumb. They just don't have facts and information to allow them to think for themselves. Once there is no longer "something" to be had for "nothing" just by voting for the right politicians, people will start thinking for themselves.
When that happens, the problems we have can be resolved very easily. The road map on how our government should work was well thought out and laid down some 227 years ago. This road map is as valid today as it was at the time it was created.
Every generation has to learn the process of creating and maintainig prosperity. You'll be surprised how quickly a new generation will learn to get back on the right course when it needs to, especially with today's communication capabilities.
Posted by taxesbyanyothername on 02/24/13 09:24 PM
Many good ideas for turning our country around here. All depend on the electorate forcing government, whether federal or state. Most will fight against it. Those on the dole, whether it be retirement or any other version. Whole professions, union teachers, (one of my cousins has been a grade school teacher for thirty years and just recently joined for fear of loosing her job) police, fire, tax lawyers, on and on.
The surge in gun sales seems hopeful, yet when compared to reactions to other recent government provocations it seems selfish, almost juvenile. The reactions to: up coming forced unsurance purchases, the contraception/abortafacient mandate, passage of the 2012 NDAA; all seem muted, tepid, timid, almost nonexistant compared to what they deserve.
The ideas are easy. Getting enough people to believe in them will not be. Many we convince, will then be afraid to act.
Even if governments are pared back to sane proportions and functions, the demographics and attitudes their policies have alread created militate against a robust economic recovery.
The mess that we and the rest of the world are in would not be fixed easily or quickly even without the opposition of TPTB. I doubt that any of us will see the end of it.
Posted by Bischoff on 02/24/13 06:33 PM
You make interesting points. Here is my take on them, point by point.
1) By all means, pay off or default on all debt and credit cards. As to cars and houses, default should be judged against saving equity.
2) Gold and silver as currency are unworkable. However, a redeemable paper currency subject to the gold standard can be reintroduced the minute the Congress lifts the "legal tender" protection from the Federal Reserve Note. This will help clear the market of consumer products, and at the same time allow people to save for old age.
3) The function of banks is to create currency under state charter. They make their money by discounting 90-day commercial Bills of Exchange which are then circulated in the form of redeemable, uniformly denominated paper currency. The function of Investment Trusts is to accept gold deposits and to loan them out for their depositors. They make their money on the service provided.
4) You are absolutely correct. The idea of combining banking with investing is a bad idea.
5) Campaign contributions for election to federal office should be limited to individuals who can presently vote and/or who are prospective voters. Corporate lobbying has to be divorced from electioneering. To that end, the 17th Amendment must be repealed.
6) There is no need for "a cover charge". Once a redeemable paper currency, subject to the gold standard, is reintroduced and circulates parallel with the irredeemable Federal Reserve Note, the FX markets will quickly settle the difference in value without having to construct a kind of "Rube Goldberg" cover charge regime.
7) The writers of the Constitution never intended to have a person elected to federal office from a voter pool larger than that of a congressional district. Congressmen are close enough to the voters for constituents to be able to look them into the eye before they give them power over their lives by their vote. In that regard, the direct election of U.S. Senators, introduced with the ratification of the 17th Amendment, has made a mockery of the original U.S. Constitution. Thank heavens, we at least have the electoral college left in choosing a U.S. President. If you want to change the political mess in Washington, DC, repeal the 17th Amendment. The rest will take care of itself.
8) This is a good idea. However, the State National Guard units supplied and equipped by the National Guard Bureau in Washington, DC are not such force. While the National Guard is considered a state militia when not called to active duty by the federal government, anytime the federal government decides to activate the National Guard, their units are under command of the U.S. President, and no longer under the command of the state governors. That's what happened in Little Rock, AR. One day the National Guard blocked blacks from entering the school house, the next day after being activated for federal service, they insured that blacks could enter the school house.
9) Once a redeemable currency subject to the gold standard is reintroduced, the exodus of employees from the federal government who want to work in the private sector is going to be massive. Once the Federal Reserve Note is sans its "legal tender" protection, its value is going to drop vis-a-vis the redeemable currency. Nobody wants to work for fiat money, if the can work for hard money. The trillions of dollars of debt will be settled in the FX markets. No need for fancy programs.
10) Leave the names and the acknowledgement that Democrats are "left" of center, and the Republicans are "right" of center. Then work on reinvigorating the parties. There was a time when each party had its "right" and its "left" of center members. The differences of opinions held by members of each of the parties were ironed out during the party conventions.
Nowadays, no such ironing out takes place. The Democrats are controlled by the far left Socialists and Communists, and the Republican Party is controlled by corporatists and big government advocates. Democrats tradionally see government as a solution to problems. The RINO leadership of the Republican party is not much different when it comes to calling on protection by the federal government. Advocates of limited government must reassert themselves in the Republican Party which is their traditional home. Include the libertarians in that process, by all means.
Posted by James Jaeger on 02/24/13 05:24 PM
]Jaeger.You make some excellent points, however, its to late. If plans to organize such resistance to govt. were attempted, The FBI, & Homeland Security would nip it in the bud by nabbing the leaders who would just disappear. The detainment gulags are ready & waiting.
No "resistance to govt." is needed or wanted. The STATES, which have FORMED the FEDERAL government under the authority of WE THE PEOPLE have the power to DISSOLVE the Federal Government if they see fit. The states also have the Constitutional mandate and AUTHORITY to revitalize each of their 50 respective Militias. See Dr. Vieira's book, The Sword and Sovereignty, to get a fuller understanding of the legal options. Click to view link
Posted by James Jaeger on 02/24/13 05:20 PM
THE AMERICAN DREAM -
How a Constitutional Militia Can Re-Establish It
by James Jaeger
It is argued that in 1790 the entire population of the U.S. was only 3,929,214 people. The current population of Washington D.C. is 5,703,948. How many of the citizens of Washington D.C. should count as "militia"? They're pretty much ALL armed already and DC isn't even a state.
This statement -- actually made by a contributor at the MIND-X -- misses the point.
Just as there is such a thing as CENTRALIZED INTELLIGENCE (a single mainframe computer at a single location) and DISTRIBUTED INTELLIGENCE (many personal computers at many locations) there is such a thing as CENTRALIZED SECURITY and DISTRIBUTED SECURITY.
The concept behind "centralized security" is you have one large military, controlled by one group in Washington DC that takes care of the security of 311,000,000 people all over the nation.
The concept behind "distributed security" is you have 50 militias, each controlled by the government in each of the 50 states, and this takes care of the security of 311,000,000 people all over the nation.
Now I ask you -- given that the population is now 311,000,000 and not 3,929,214 as in 1790 -- what has a better chance of providing security to a vast population: a hand-full of police with nukes in Washington DC, or WE THE 311 MILLION PEOPLE of each state keeping and bearing our own personal arms?
Obviously, if it takes the police 20 minutes to show up across town to a Sandy Hook Elementary School mass shooting, it's going to take 20 hours for an army in Washington DC to show up across the country to an insurrection or invasion. Look what happened on 9-11? The central government in DC couldn't even show up on time across a state line!
So it's obvious to any rational citizen that the U.S. Founders had it right. 'A well regulated Militia is necessary to the security of a free state . . .' and a well-regulated Militia is nothing less than DISTRIBUTED SECURITY.
Granted, the Constitution DOES provide for an army and a navy, but it never authorized these two entities to preempt the mission of the state Militias. Patriots thus need to make some changes. WE THE PEOPLE need to get the rogue politicians out of congress, the executive and judicial branches that are attempting to usurp power. This "gun-control lobby" -- comprised of not only rogue politicians, but mainstream media pundits, New York Fed bankers, non-citizen multinational corporations, members of the CFR, Hollywood socialists and would-be tyrants in the U.S. and other nations -- needs to be handled by WE THE PEOPLE as the sole sovereign power of the nation. This can be done by regaining control over the "power of the purse" (i.e., ending the Fed and placing gold and silver into competition with FRNs) and regaining control over the "power of the sword" (i.e., revitalizing the Militia of the several States as descried in Edwin Vieira's new book, The Sword and Sovereignty). See Click to view link
The revitalization of the state Militia as a voluntary force of men and women providing service with their OWN, self-purchased arms and accoutrements will enable universal security. It will also act as a deterrent to tyranny and enable the $3.8 trillion federal budget to be drastically reduced. At least a trillion dollars a year is extorted from WE THE PEOPLE through taxes and inflation (a hidden tax) for the unconstitutional, global standing army called NATO. This military presence of 900 bases in over 140 countries is stirring up trouble all over the world. WE THE PEOPLE must put an end to this foolishness and get back to the principles set forth in the U.S. Constitution. As this happens, you can expect the American Dream to re-establish itself. And it will.
Posted by samson on 02/24/13 05:10 PM
Jaeger.You make some excellent points, however, its to late. If plans to organize such resistance to govt. were attempted, The FBI, & Homeland Security would nip it in the bud by nabbing the leaders who would just disappear. The detainment gulags are ready & waiting.
Posted by James Jaeger on 02/24/13 03:59 PM
Here are 10 things we could do personally and as a society to possibly improve the situation:
1) Refrain from borrowing at all levels. Pay off or default on all debt: credit cards, cars and housing.
2) Encourage gold and silver as competing currencies. Silver Certificates printed up by STATE governments (not BVN) need to go into direct competition with Federal Reserve Notes being printed by the FEDERAL government.
3) Fractional reserve banking should be phased out. If bank customers started inquiring about reserves and took their business to banks that kept more on reserve, the competition for business might force banks towards higher or full-reserve banking.
4) Remove the conflicts of interest in the "financial services" industry. Commercial banks should not be involved in investment banking and/or insurance. This is one of the rare places government regulation can set some wise ground rules.
5) Since corporations are not people, they should not be taxed, nor should they have a right to free speech. Since they should not have a right to free speech, it is a mute point as to whether campaign contributions are speech. No speech = no contributions permitted by entities other than "natural persons."
6) Erect a "cover charge" around the $15 trillion U.S. market for foreign-manufactured goods that want to enter the "dance." Pat Buchanan explains why this would work in SUICIDE OF A SUPERPOWER. Read it.
7) Keep voting out all incumbents until a class of congressmen finally arrives that enacts term limits. A congress that can't even limit THEIR terms is a congress that will never limit OUR government.
8) Revitalize the Militia of the several States as a deterrent to the fiat-currency funded global standing army operated out of DC.
9) Cut the $3.8 trillion government budget across the board (every category and line item without mercy) in an amount exactly equal to the consumer price index that is announced each year by the government.
10) 12 percent of Republicans should join with 15% of Independents and 11% of Democrats to form a new political party or support the Libertarian Party. This would break the back of the current party -- the Republicrats -- that now dominates government on behalf of corporate fascists on the Right and cultural Marxists on the Left. See Click to view link if you don't know what I mean.
Posted by Bischoff on 02/24/13 03:06 PM
SAMSON: "If you are depending on Gold, please, please, hedge it with a
inverse Gold ETF."
BISCHOFF: Yes, and please, please pray... .
The amount of derivatives now in existence are estimated to be 143 quadrillion USD. When the universe of derivative instruments which accounts for this unimaginable amount of derivative obligations unwinds, I hope that your Gold ETFs will be in good shape. In any case, if I were you, I would pray, and pray some more... ..
Posted by Bischoff on 02/24/13 02:58 PM
@ Dave Jr
DAVE: "Look at all the glassy eyed dupes who wouldn't give a damn even if they could."
BISCHOFF: I share your frustration, Dave. Nobody seems to have a clue about the true nature of human beings. The education establishment, supported by big government politicians, surely isn't going to let the cat out of the bag.
The family is not an institution born from instinct. It is an outgrowth of the necessity for humans to survive in the terrestrial environment. Parents are the most important individuals to properly habituate their offspring in their behavior as to allow them to survive in the terrestrial environment. This means that parents must teach their children to exercise hygiene, and teach them to work so that they may feed and house themselves in later life.
Government is there only as a backstop in the event that parents fail in their parental duties. Government should do everything to support and promote the function of parents, and to keep the need for government to the minimum. Instead, big government politicians interfere with parents in the habituation and raising of their young for the purpose of growing the need for government.
It maybe that the prosperity derived from the work ethic taught and exercised in the past has led our society to the point where the need to work is no longer accepted or recognized.
Big government politicians play on, and justify basic human instinct to merely "pluck fruit" from the tree, rather than stress the necessity to work. By doing so, they put themselves in the position where they can "pluck fruit" without having to work by merely using government force to take for themselves or to redistribute as they see fit.
When voters follow basic human instinct in electing a government which promises to give them things, then the government which results acts no longer as a supporter of the family institution, but as a destroyer of it. We don't get the government we want. We get te government we deserve. History is repleat with examples.
In a Democracy, which is what we have become with the ratification of the 17th Amendment, there are soon 51% who vote for a living, and 49% who must work for a living. This was clear to the founding fathers. It was the reason why they shunned Democracy as a form of government. Instead, they opted to create a Republic. We mortally damaged the American Republic with the ratification of the 16th and 17th Amendments.
The founders were students of history and the classics. They knew to draw a lesson from the fate of the Athenean city states. We are on the road to meet the fate of those Athenean city states.
Who teaches this kind of history to the young... ??? Not the education establishment which is largely coopted by big government politicians. The lack of knowledge of history leaves the average voter open to appeal to basic human instincts for the reason to vote for a politician. Big government politicians know that instinct is a much greater motivating force, then explaining the reason why people must "work", and why they shouldn't look to government to "get things".
Unless you consult history for the reason why instinct must be curtailed when it comes to sustaining oneself, and that only habituation to work will solve the conundrum, you will always confirm the saying that "history tends to repeat itself".
Posted by samson on 02/24/13 02:27 PM
HEY NED, don't take your paycheck over to that gambling joint, you know you can't win. Yeah, but its the only game in town.
Correct, its a no-win game for the average citizen. The governments/big banking are in collusion to control the masses. They manipulate every investment scheme. The total stock markets, every commodity. We have visited this theme several times in the past year, and the responses from you people don't change.The fleecing game continues and for the past 5 years each of your nest eggs have shrunk. Many Seniors depending on interest in CD's are being crushed, with more going on the dole, as rates are less than 1% now and will be for foreseeable future. Bischoff is still grasping for what he is desperately hoping will bail him out, GOLD. But Gold is contained & manipulated as is all investment vehicles. In the next 3 years we'll see
$500. per ounce Gold. If you are depending on Gold, please ,please, hedge it with a
inverse Gold ETF. The world central elite bankers/govt's, are all printing 24/7,
worthless fiat currencies. Why would they make Gold backed dollars? When the poorer
countries have fallen, the selected few still standing will split the winnings, and
together, create a new ONE WORLD CURRENCY, and wipe out all former DEBTS. Good luck to you. Read the tea leaves, or die broke.
Posted by dave jr on 02/24/13 11:38 AM
"Do you see how difficult it is to provide a good and prosperous life for yourself, if you want to live among the general society... ???"
My ideal in 'social security' is to build a profitable business and pass it down to the children who were raised responsibly. What could be more secure? But look at how difficult that has been made. Look at all the pitfalls and traps. Look at all the subversions against the family and an impossible regulatory environment. Look at the hidden war of indendence. Look at all the glassy eyed dupes who wouldn't give a damn even if they could.
Posted by Bischoff on 02/24/13 11:04 AM
@ Tony Wile
WILE: "The person responsible for you is ... you. And if you are to have a good and hopefully prosperous life, you will have to take action to make it so."
BISCHOFF: That is easier said than done. In a world where only "managed" fiat currencies are "legal tender" for payment of debt, how can you assure yourself of making the "correct" investment decision?
Derivatives... ??? You know that is a joke.
Out-smart the fiat currency managers... ??? Lots of luck.
Buy Gold... ??? That's about the only reasonable answer. Gold is the means by which one can "save" for ones future. However, if the fiat currency managers manipulate gold, and they treat it as just another commodity, your gold savings are only good as insurance against the ultimate, and inevitable collapse of the "managed" fiat currencies.
I don't think it has dawned on people that the 1935 Social Security Act was a response to FDR's nationalizing of gold holdings and the collapse of the redeemable Federal Reserve Note. Without gold, people simply could no longer save. The Congress in 1935 was well aware of the future problem which retirees would encounter without having the ability to "save" for old age.
Irredeemable, "managed" currency is good enough for spending on immediate consumption before inevitable inflation "cheapens" it, but it isn't good for much else. It certainly isn't any good as savings in a savings account.
Investment in real estate... ??? What investment... ???
How can a house or building which deteriorates and depreciates due to use and due to the affects of exposure to the elements be an investment... ???
When talking about "investing" in real estate, one can only mean to "invest" in the dirt underneath the house or building. Therefore, real estate investment is an "investment" in the location, a piece of the "earth" as God provided it. That's an investment... ??? There are plenty of California "real estate" investors which disagree with that idea now... .
If one could exercise "sovereignty" over real estate, I might grant you that real estate could be an "investment". However, with real estate subject to government taxation, subject to entry by police power, and subject to the law of eminent domain, one can hardly talk about a secure "investment" in real estate.
Do you see how difficult it is to provide a good and prosperous life for yourself, if you want to live among the general society... ???
The solution... ??? Reintroduce redeemable paper currencies and coax gold out of storage to let it do its function as money, and thereby enable people to make "correct" decisions regarding their savings and investments.
Posted by dave jr on 02/24/13 09:30 AM
I'll agree, but ask is the scarcity a natural phenomena or meme?
Like in business, one has to spend money to make money, so too in energy extraction, one has to consume energy to aquire a 'net' energy, which is decreasing. It is this net energy that the modern world economy rides on, the fuel for increasing or decreasing standards of living.
The basic formulas are relativly easy to understand. What is not easy to see is the degree of manipulation. But we do know the elite hate to waste a good crises.
Posted by speedygonzales on 02/24/13 07:34 AM
Propaganda drove americans into dead end road. No doubt. Propaganda which promotes power elites agenda created picture that government is like god. The god that failed because it was planned that way. The problem is that elites hold us hostages under tip of guns.
Decentralized and diversified state. All public services runs on local, county, region, state level as cooperatives. Yes, communities as communes. No, it have not to be mandatory but now there is no option so is dictate as Obamacare now.
Under coopearative system, like Mondragon in Spain, coops in Bologna, they have own bank- actually bank is nationwide in Spain- where they put their money and those money are invested on cooperative investment. So, in reality, people in cooperative make direct investments into their own business where they live.
Those cooperatives in Spain and Italy have their own: healthcare, education system up to universities, their own developing-research center, pension funds are money in real things like factory, office building, sport clubs etc etc and they do not have pay twice to state and have their own care. They fully fill the word "selfgovernment."
US system is 180 degrees oposite way. Power elites make investments and screw up money of folx. No one actually knows where money taken from paychecks goes and how it ends.
Again. Most brutal scenario in democracies is that there is no options. Typical Vatican way. My way or genocide, or flames.
Bankers knew why they centralized Germany, Italy, US- by civil war, and finally Europe. Picture is clear now.
Apropo. Canadian pension funds owns shares in hockey clubs, shopping centers, factories etc. The same had Libya- all this was stollen.
Just for picture:
HSBC and Goldman Sachs held $335m of Libyan state oil money
Click to view link
Here you can find more Pension Funds which make investment into real world not throwing money into hollow.
Click to view link
Posted by onebornfree1 on 02/24/13 07:05 AM
NoPrevarication on 02/23/13 11:19 AM said: " I listened to your music and was elated to see that I was the first one to do so (that is if your site counts the number of visitors)!! Thank you so much. I read the lyrics below the song and thought they were good. I will tell others about you. Take care and keep singing. Songs can change the world. "
Thank you for taking time to listen and post your comments- here's another original of mine you might enjoy: "Live Free Or Die": Click to view link
Posted by speedygonzales on 02/24/13 07:04 AM
'Hollywoodism'. Hollywoodism is international conference about Hollywood made propaganda. It does not have much with this article but it does if enough abstract imagination is in place.
Click to view link
There were talks about movie ARGO. We can talk about movies: Valley of Wolves Iraq and Palestine. Can not be bought in US.
Mr. Talebzadeh urged the participants to focus on solutions in other debates. 'We have lots of work to do,' he said. 'We must enlighten the U.S. audience, tell them the truth.'
Sascha Borat Kohen is exposing the truth