"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Gold Sharply Higher in Yen terms and Euro Terms
Remember that recent call by the Japanese for more yen printing by the Bank of Japan? Obviously this was not lost on the gold market. Can anyone say "Deliberate Currency Debauchment"?
If that is not enough, the Europeans, not wishing to be outdone by the Japanese in the sense of who can debase their currency the fastest, continue to drone out about coming to the aid of Greece. Their remedy - print more money.
I have a bit of counsel to the political and monetary authorities. Why not just cease and desist ALL TAXATION OF YOUR CITIZENS COMPLETELY. You obviously can conjure into existence, out of nothing, all the money that you need. Why bother taxing anyone? Just print what you need and end the illusion of possessing any sort of discipline or ethics altogether.
At least that way your middle class will have something of their's left over before you bastards destroy what is left of their purchasing power.
End taxation, yes. Excellent suggestion. I've been saying the same thing for years. Since the powers-that-be can print as much "money" as they want into existence, why squeeze me just to get a few extra bucks? Simply print more of what is needed and spend it into the economy. No more taxes of any kind, ever. Of course, such a course of action will eventually lead to a Zimbabwe-like state of affairs, but maybe then the sheeple wake from their stupor and demand sound money. Then again, probably not.
ReplyDeleteCome on Dan, they want their cake and eat it, too.
ReplyDeleteYes i often had the same thoughts that if the central banks just print money for bail outs , why dont they just print for all the other so called tax expenditures? It is an illusion. the currency in Zimbabwe is gold- the average rural person spends all day in the creek beds panning for gold for food.
ReplyDeleteGiven Dec 21 is 400 360 day years of 144,000 on the Mayan Long count at the winter solstice, about the same time as the Colonies were being pressed into Fractional Reserve Banking via the Spanish/Amsterdam banking system, it looks like time is up. On the last business day before the long Xmas holiday season, the new PM of Japan, the new Premier of China, the trillionaire bond fund holders of the world, the large multinationals of the world, and citizenry of all kinds with 401k in America and their equivalents worldwide will panic en masse as the Democrats and Republicans fail to reach agreement in failed brinkmanship where everyone lock stock and barrel in the world starts to dump dollars, yen, Euros, and fiat everywhere to purchase a very small amount of physical gold with many Trillions in fiat ALL AT ONCE. By the time America and Europe wake up on the 26th, it will be all over for fiat. By the time the 31st arrives, there wont be a functional bank around on January 2nd. Welcome to the Blackest Friday which starts it all, less than a month from now.
ReplyDeleteAren't you full of good cheer?
DeleteSlight issue...US politicos have already said they can go on until February with no resolution. Easy just juggle the budget once again aka last debt ceiling debacle. Collapse will come, but need some dominoes to fall over first..maybe Catalonia?
DeleteDan, taxation has become more about social tinkering and control over the population and less about raising revenue for proper governance. I share your frustration with the lack of responsibility of policy makers.
ReplyDelete