Peter Schiff gives Congress a dose of common sense relative to jobs and business.
Politics, rantings, comments and such!
October 27, 2011
Peter Schiff gives Congress a dose of common sense relative to jobs and business.
October 6, 2011
Some people are predicting that there will be a major economic collapse, caused by unsustainable debts and other government intrusions into private economic matters, and by central banks’ excessive money-printing.
In America, the Federal Reserve’s continued irresponsible and reckless actions will result in further devaluing the currency and huge increases in price inflation, especially in food and energy prices. Some are predicting that there will be food shortages, looting, rioting, and civil unrest and violence in America.
But the subject of martial law needs to be discussed, because it’s important that the people of the U.S. states have an understanding of this before Obama imposes martial law, which is essentially a presidential-military-rule dictatorship.
Obviously, any imposition of martial law by the U.S. government would be not only a gross violation of state sovereignty, thus making the states even further subservient to the authoritarian rule of the federal government, but martial law goes against the Founders’ ideas of inalienable rights and liberty.
Martial law includes the suspension of civil liberties, such as freedom of speech and dissent, the right to bear arms and self-defense, the right to freedom of movement, and the right to presumption of innocence. The Declaration of Independence recognizes the right of each and every human being to “life, liberty and the pursuit of happiness.” These are inalienable, pre-existing rights, meaning that they are natural and inherent rights, not given to us by any government. That means that no one, including government officials, police or military, may violate these rights or remove them – otherwise, they could not be considered inalienable.
Specifically, the right of the individual to life and liberty includes the right to own and control one’s life, and the right to be free from the aggressions of others, including police and military. The right of the individual to one’s life and liberty includes the “right to be secure” in one’s person, property and effects. In America, there are supposed to be no intrusions into the person or property of the individual without actual suspicion that a specific individual has committed a specific crime against someone else’s person or property. Even in those cases, the people were advised by the Founders to nevertheless question the official judgments of government agents.
Any suspension of these rights and civil liberties such as under a martial law would thus be an act of criminality by government officials, including the president, military and police, against the people. There have been many aspects of the post-9/11 “War on Terror,” including the Patriot Act and new warrantless surveillance intrusions, and due-process-free policies of apprehension and detention of Americans by federal agents, that some people believe to have been a back-door means for military rule in America.
As I wrote in my article, Tea Partiers May Need the ACLU Soon, the rights to presumption of innocence (and thus the right to be left alone without suspicion) and due process have greatly diminished in America since the Bush Administration exploited 9/11 to expand the federal government’s intrusive police powers over Americans. Putting such policies as the Patriot Act into place, and allowing for the apprehension, detention and assassination of Americans as well as foreigners, policies that remove presumption of innocence and due process, has made the U.S. government a much bigger threat to our liberty than terrorists ever could be.
Just one example is how current administration officials’ continuously label government protesters and Tea Party activists, antiwar protesters and even anti-ObamaCare activists as threats and “terrorists.” The crackdowns on peaceful protesters show more clearly how America is quickly turning into the Soviet Union.
Now, if you are a governor, and President Obama imposes martial law and orders you as governor of your state to enforce such an order, you are obligated by law to disobey that order, because it would be an unlawful order. Government officials recite an oath as they take their office, as do police and military personnel. Part of the oath for governor of a state – and local police officers for that matter – includes “support” of the U.S. Constitution and respective state constitutions. In some cases, the oath states that they will “obey and defend” the Constitution.
Some police officers’ oaths state that they will “obey the orders of superior officers” on the force. And the oath for enlistment in the U.S. Armed Forces does include mention of obeying the orders of the President of the United States. However, when a superior officer or president gives an unlawful order, such as one that violates an individual’s right to due process or right to free speech or dissent, then the soldier or officer is obligated to disobey that order.
I never thought that in my lifetime I would see such a strong possibility of economic collapse, food shortages, civil unrest and martial law in America. But all of this is completely avoidable.
Finally, besides invoking the 10th Amendment and nullifying federal food, monetary and banking restrictions, and nullifying federal gun laws, if Obama orders martial law, then U.S. state governors must also nullify that, too. If Obama and federal agents and military insist on forcing martial law in the states against the authority of the states’ leaders, then the states’ governors may have to order state and local officials to arrest federal agents acting in violation of the states’ sovereignty and the people’s rights.
No, the way to deal with economic collapse, civil unrest and looting is not with a federal martial law presidential-military dictatorship. The way to deal with or prevent such a crisis is by going the other way: through decentralization and de-monopolization, and undoing all the governmental interventions that will have caused the crisis in the first place.
April 21, 2011
You think the White House doesn’t know what’s they’re doing and what’s going on? Don’t fool yourself!
Even though the White House has publicly downplayed the credit warning issued Monday from a leading agency, Obama administration officials were privately trying in recent weeks to convince Standard & Poor’s not to lower its outlook for U.S. debt from “stable” to “negative,” Fox News has confirmed.
But after a series of meetings between the Treasury Department and S&P, the ratings agency ignored the pressure and told administration officials late Friday that the U.S. government was at risk of losing its sterling credit rating, a senior administration official told Fox News.
The Washington Post first reported on the private meetings in which Treasury officials argued to S&P analysts that a ratings change was unnecessary because the nation’s $14.3 trillion debt was under control and the administration had a feasible plan in the offing. Treasury officials also contended to S&P analysts that they were overlooking the ability of U.S. lawmakers to reach a compromise to tame deficits.
But the argument failed. The agency based its assessment on the sentiment that a budget agreement addressing the country’s long-term deficit and debt problem might not be reached until after the 2012 election.
Republican National Committee Chairman Reince Priebus said in a tweet, “It is alarming that the WH would encourage S&P to suppress a damaging fiscal report for Obama’s partisan speech.”
The White House has been trying to minimize the credit warning ever since it was issued Monday. Treasury Secretary Tim Geithner, in an interview with Fox Business Network Tuesday morning, said there is no risk the country will lose its AAA credit rating.
White House chief spokesman Jay Carney said Monday that the political atmosphere for consensus is better than S&P predicts.
March 3, 2011
As we all have to visit the grocery store regularly this is really not a surprise to most of us. I bought $50 worth of groceries at Wal-Mart the other day and it was in two small sacks.
When two months ago, in the first week of January, we observed that the U.N. Food and Agriculture Organisation’s Food Price Index had hit a record we said: “The last time food prices hit ridiculous levels, the immediate outcome was global food riots in places such as Haiti and Bangladesh. Which is why distributors of riot equipment in the world’s poorest countries may be in for a bumper crop as the Food and Agriculture Organization has just announced that world food prices have just surpassed the previous record last seen in 2007-2008.” Little did we know just how prophetic this statement would turn out to be. Well, the FAO has just released its latest food price update and as expected, it is a new all time high. The U.N. Food and Agriculture Organisation’s Food Price Index hit its second straight record last month, further passing peaks seen in 2008 when prices sparked riots in several countries, driven by rising grain costs and tighter supply.” And with oil now joining food, which means that the inflationary vicious spiral is now on, it is only a matter of time before ever more hungry countries join the wave of revolutions, now that Tunisia and Egypt have shown it can be done. On the other hand, our expectation is that the IMF will promptly seek to put out any fires before they become infernos, with the US taxpayer reeling from the double whammy of Bernanke’s inflationary policy consequences: once at home, and once by subsidizing foreigners.
Reuters with an interactive chart of food prices.
And some more from Reuters:
Oil prices recently hit 2-1/2 year highs, nearing records set in 2008, with markets spooked on concern that North African and Middle East unrest would choke key supplies.
Farmers depend on fuel to run agricultural machinery, while dry bulk shippers are heavy oil users, costs which are passed on to food buyers.
Spiraling shipping costs for commodities threaten to drive food inflation even higher as nations from Asia to the Middle East and Africa scramble for supplies, analysts say.
Stockpiling by some major grain importers “beyond country’s normal needs” seeking to head off political unrest and secure supplies on domestic markets, has been adding uncertainty and volatility to the markets, Abbassian said.
“Political instability in the regions and countries affects the markets by adding uncertainty: will a country buy or not buy, why it had bought so much now … those things are disruptive to the normal trade,” he said.
The FAO, which measures monthly price changes for a food basket composed of cereals, oilseeds, dairy, meat and sugar, averaged 236 points in February, the record in real and nominal terms, up 2.2 percent from January’s record and rising for the eighth month in a row.
November 10, 2009
Just a few years ago people like Steve and I that talked about the New World Order were considered “nut cases”, now it’s out in the open even by the elites.
In a shocking Op-Ed piece published Thursday on project-syndicate.org, globalist financier George Soros calls for a “New World Architecture”. In his essay, he states how international capitalism, led by the United States has “broken down” and how “A new multilateral system based on sounder principals must be invented” through the use of the IMF (International Monetary Fund)(the United Nations of course). Soros goes on to recommend SDR’s (Special Drawing Rights), created by the IMF, as a replacement for the declining US Dollar,
“The dollar no longer enjoys the trust and confidence that it once did… The US ought not to shy away from wider use of IMF Special Drawing Rights. Because SDRs are denominated in several national currencies, no single currency would enjoy an unfair advantage.”
The issuance of SDR’s among the world economies would place all currencies on a level playing field, whose value would be determined by the international SDR.
Soros also calls for the United Nations and its Security Council, currently led by President Barack Obama,( in direct violation of the U.S, Constitution), to serve as the overseeing enforcement body for this new financial system,
“Reorganizing the world order will need to extend beyond the financial system and involve the United Nations, especially membership of the Security Council. That process needs to be initiated by the US, but China and other developing countries ought to participate as equals…The system cannot survive in its present form, and the US has more to lose by not being in the forefront of reforming it.”
In the most troubling part of this his article, Soros calls public outcry over the declining economy and outrage against globalism, “populist demagogy” and eludes to a new U.S. led war overseas stating, “In fact, democracy is in deep trouble in America. The financial crisis has inflicted hardship on a population that does not like to face harsh reality…If Obama fails, the next administration will be sorely tempted to create some diversion from troubles at home – at great peril to the world.”
Read Soros’ article here:
October 7, 2009
Well here we have the Bilderbergers and CFR on the march to end the dollar.
The price of gold is surging on world markets amid fears that the old economic order based on the supremacy of the US dollar could be breaking down.
A new spike has sent the cost of the precious metal to a level not seen before. The dollar slid sharply after yesterday’s report in The Independent that Gulf Arab states are secretly planning to stop trading oil in dollars, and a senior UN official said that the US should be stripped of its position as the main source of currency reserves for other countries.
The developments come on top of speculation that the Obama administration is operating a policy of benign neglect of the dollar, engineering a devaluation that could help repair some of the economic damage caused by the recession.
Not since the collapse of the Bretton Woods system in 1971 has gold been treated as the equivalent of a world currency, but The Independent reported that it could form part of a basket of currencies that would be used for oil trading by the end of the next decade.
Aram Shishmanian, the chief executive of World Gold Council, said: “The financial and economic instability of the past 18 months has brought gold’s historical role into sharp focus and has continued to increase its prominence among policy advisers, central banks, and investors around the world.
Across the world, investors have been reaching for gold as an alternative to the dollar and to other US assets, fearing that the American currency is headed inexorably lower.
The dollar index – which measures the greenback against other currencies – fell 0.7 per cent yesterday and the dollar was lower against all major currencies except the British pound.
Overseas governments are in a bind because they hold trillions of dollars as reserves to protect them against a financial crisis. They are seeing the value of those reserves decline, but starting to swap them for gold or other currencies could deluge world markets with unwanted dollars and send the value of the greenback even lower. The situation is particularly sensitive for oil-producing nations, who are paid in dollars for their exports and therefore hold high dollar reserves.
Gulf Arabs have begun planning – with China, Russia, Japan and France – to move from dollar dealings for oil to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new currency planned for nations in the Gulf Co-operation Council, which includes Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean oil will no longer be priced in dollars. The revelation was met with public denials yesterday. The Saudi central bank governor, Muhammad al-Jasser, said: “The future is in God’s hands. Today, the conditions are good for the arrangement we have.” The Japanese Finance Minister, Hirohisa Fujii, said he “doesn’t know anything about it”.
Dennis Gartman, the US investment guru who writes the daily Gartman Letter, said that no one should be surprised to hear denials. “We are certain that spokespeople for every single nation will be brought to the fore to deny that any such meetings have occurred, that no such decisions have been made, that it is not in anyone’s interest to have held such meetings or made such decisions,” he told clients as The Independent story broke. “The market will care not a whit.”
“It would only be great news for the US. The US would love a little bit of devaluation, even though they can’t say it,” he said. “They have to pay lip service to the strong dollar policy, but if someone else were to engineer a devaluation, that would be lucky break for the US.”
September 28, 2009
Just wanted to post this to show Steve knows what he’s talking about.
BILDERBERGERS WANT GLOBAL CURRENCY NOW
Bilderberg has had front-men call anew for creating a global currency and establishing major European Union-style regions for the administrative convenience of a planned world government. Both steps were taken in September, one by the new Bilderberg-crowned prime minister of Japan and one separately by the UN.
The Geneva-based UN Conference on Trade and Development (UNCTAD) called for a global currency in a report made public on September 7. UN countries should agree on a global reserve bank to issue the currency and to monitor the national exchange rates of its members, UNCTAD said. The dollar’s role in international trade should be reduced to protect emerging markets from the “confidence game” of financial speculation, it said.
Heiner Flassbeck, a former German deputy finance minister, is co-author of the report calling for a global currency. He worked with then U.S. Deputy Treasury Secretary Lawrence Summers in 1997-98 to contain the Asian financial crisis. Summers is a longtime Bilderberg luminary and has been photographed by AFP at annual secret Bilderberg confabs.
Eliminating national currencies has long been a goal of Bilderberg as a crucial step in its plan to establish a world government. A nation’s currency is a symbol of sovereignty, so Bilderberg wants to divide the world into three giant regions, each with its regional currency, for the administrative convenience of its world government bureaucrats.
Bilderberg used its immense power to get Yukio Hatoyama’s Democratic Party of Japan elected over the Liberal Democratic Party, which had led the nation for 64 years. Hatoyama obediently called for an Asian economic bloc, similar to the EU, complete with a regional currency.
Bilderberg’s goal is an “Asian-Pacific Union” and an “American Union,” both modeled after the EU. The EU has its common currency, the euro, and a European Parliament that can impose laws on the once sovereign nations of Europe and a European Court superior to the highest courts of member states. The EU is effectively a single super-state.
The “American Union” is to evolve from the North American Free Trade Agreement, or NAFTA, as it extends throughout the Western Hemisphere. The common currency is to be the “amero.” Fortunately, Bilderberg’s efforts in the Western Hemisphere have been stalled but the campaign continues using “free trade” propaganda.
Ultimately, the UN is to function as a world government with the General Assembly serving as a world parliament. Bilderberg, a secret organization of international financiers and political leaders, will serve as a world shadow government that dictates to the UN.
September 25, 2009
Well we can thank our Congress in 1913 for making the unconstitutional Federal Reserve (which is no more federal than federal express) in charge of our coining our money instead of Congress as the Constitution calls for.
This is what even the US is calling for at the G20 Summit in Pittsburgh, Pa.
The sun is setting on the US dollar as the ultra-loose monetary policy of the US Federal Reserve forces China and the vibrant economies of the emerging world to forge a new global currency order, according to a new report by HSBC. (The Hongkong & Shanghai Banking Corporation)
“If the plan succeeds, the United Nations would effectively end up replacing the United States as the issuer of the one-world international currency used as the standard of foreign exchange to settle international trade transactions,” Red Alert reported. “The move would obviate the need for any nation state in the future to be the arbiter of world trade, marking yet another blow to national sovereignty on the path to one-world government.”
Smith, author of “Rediscovering Gold in the 21st Century,” has argued that the simplest solution for Americans looking to protect their wealth is to convert it from unstable dollars into gold, “the most stable currency in the world.”
“The whole picture of risk-reward for emerging market currencies has changed. It is not so much that they have risen to our standards, it is that we have fallen to theirs. It used to be that sovereign risk was mainly an emerging market issue but the events of the last year have shown that this is no longer the case. Look at the UK – debt is racing up to 100pc of GDP,” he said
Crucially, China and rising Asia have reached the point where they can no longer keep holding down their currencies to boost exports because this is causing mayhem to their own economies, stoking asset bubbles. Asia’s “mercantilist mindset” of recent decades is about to be broken by the spectre of an inflation spiral.
The policy headache was already becoming clear in the final phase of the global credit boom but the financial crisis temporarily masked the effect. The pressures will return with a vengeance as these countries roar back to life, leaving the US and other laggards of the old world far behind.
A monetary policy of near zero rates – further juiced by quantitative easing – is completely incompatible with circumstances in most of Asia, the Middle East, Latin America, and Africa. Divorce is inevitable. The US is expected to hold rates near zero through 2010 to tackle its own crisis.
What is occurring is an epochal loss in the relative wealth and economic power of the old G10 bloc of rich countries compared to rising regions of the world. The euro, yen, sterling, Swiss franc and other mature currencies will be relegated along with the dollar in this great process of rebalancing, but the Greenback will bear the brunt.
The Fed’s super-loose policy is turning the dollar into the key funding currency for the next phase of the global “carry trade”, taking over the role of Japan during its period of emergency stimulus.
Mr Bloom said regional currencies would emerge as the anchor for their smaller trading partners, with China, Brazil, or South Africa substituting the role of the US. Australia is already linking its fortunes to China through commodity ties.
July 10, 2009
By Lyubov Pronina
July 10 (Bloomberg) — Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.”
“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”
The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.
The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.”
Medvedev has repeatedly called for creating a mix of regional reserve currencies as part of the drive to address the global financial crisis, while questioning the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20 meeting in London in April included the creation of a supranational currency.
June 11, 2009
General, Politics Bailout, Bernanke, chrystler, CNBC, CNN, Constitution, deficit, depression, dollar, Federal Reserve, founding fathers, fox news, Geithner, gerald celente, GM, gold, greenspan, james grant, jim rogers, kudlow, Lew Rockwell, marc faber, max keiser, New World Order, Obama, Paulson, Peter Schiff, recession, Ron Paul, spending, stimulus, stock market, wall street, wayne allyn root Comments Off
While we’re trying to get all this info from the federal reserve by the hardest, maybe we should consider sticking to the Constitution for coining our money. The founding fathers warned us about the “central banks” long ago, because they had dealt with them back then and knew what would happen. Remember, “those who fail to from learn history are doomed to repeat it.”
The Constitution gives Congress the power to “coin” money….not to delegate it to “private banks”, i.e. federal reserve.
With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.
“If the Fed examiners were set upon the Fed’s own documents—unlabeled documents—to pass judgment on the Fed’s capacity to survive the difficulties it faces in credit, it would shut this institution down,” he said. “The Fed is undercapitalized in a way that Citicorp is undercapitalized.”
Grant said he would support legislation currently making its way through Congress calling for an audit of the Fed.
Moreover, he criticized the way the Fed has managed the financial crisis, saying the central bank’s target rate should not be around zero.
“I think zero is the wrong rate for almost any economy,” Grant said, adding the Fed has “embarked on a vast experiment in moral hazard. Interest rates are the traffic signals in a market economy, and everything’s green. … You have to wonder whether these interest rates are the right clearing rate or rather they are the imposition of a central bank.”
Amid a disparity between analysts predicting there will be no rate hikes soon and the fed funds futures indicating tightening by the end of the year, Grant said he thinks the Fed indeed will begin raising rates as inflation creeps into the picture.
Fed funds futures have fully priced in as much as a half-point rise in the target rate from its current range of zero to 0.25 percent.
“If the hairs on the back of your neck stand up when there’s too much unanimity of opinion, then one begins to worry about this,” he said. “The Fed proverbially has been late.”
The Federal Reserve unveiled its most detailed picture yet of its record $1 trillion expansion of credit, as Chairman Ben S. Bernanke responds to congressional pressure for greater transparency from the central bank.
For the first time, the Fed announced details on the number of borrowers and the ratings of securities pledged as collateral for loans. The data come in a new monthly report released by the central bank today in Washington.
Officials still stopped short of identifying the firms, a measure called for by some lawmakers and the subject of freedom-of-information requests and lawsuits.(Which I might add, the federal reserve it not bound to because it isn’t federal…..it’s private.)
Fed officials believe naming companies would undermine the central bank’s efforts to stabilize the economy, a senior Fed official said at a press briefing today.
The Fed’s effort at greater transparency in its emergency lending programs is a response to an April 2 nonbinding budget amendment sponsored by Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, and the panel’s ranking Republican, Alabama Senator Richard Shelby, Bernanke said. That proposal passed 96-2.
The Fed didn’t mention the tougher measure, also nonbinding, sponsored by Sanders, which passed 59-39 on the same day. Bloomberg News filed a lawsuit against the Fed in November seeking the names of borrowers.
Sanders, in a statement last month, threatened to pass the measure again “in a stronger form” if Bernanke failed to accept it. Bernanke told Sanders in February that identifying borrowers would be “counterproductive” and result in “severe adverse consequences for the economy.”
Read entire article at Bloomberg.com