I want to apologize for not being able to do more than I do. I am sorry that I am not more effective in discussions with the public. It is truly unsatisfying that I can't get through to people, whether because people don't accept the message, because it is too complex or I don't go into enough detail. Why am I doing this at all? It isn't acceptable and it really doesn't even matter.
I am sorry that I have pointed to areas of disagreement that I have with various members of the government. They are smarter than me or they would not hold the positions they do. Who am I to provide an opinion. I understand that they have feelings and that some of what I have said has harmed their ego or self-esteem. It hasn't been my goal to hurt people's feelings. It isn't my goal to harm them. My goal has been to show where I feel that the government is not representing the best interests of the people, but who am I to question motives? We should trust that these people have all of the answers and we really have no right to question them, because we are the ones who empower them and give them their authority. We should know that they are going to look out for our best interests.
I am sorry that there are many of us in this community who are made to feel that we are less worthy than others and don't deserve to expect better or aspire to climb the ladder towards a better way of life. Who are we to desire a better standard of living, just because we work hard; after all we are supposed to be here for the people who have established themselves as the best individuals who come from the best families. The members of these families can't help they came from wealth and their grandparents and great grandparents and so on provided for them. It is just natural that they are better than we common folk. They are the Better People. They are Special. We commoners should just learn to understand our role in life and move on to and accept how life is and is supposed to be. We are not here to question. We are here to provide our obligation.
I apologize for not accepting my role. I am saddened that I have not been worthy enough to be able to establish myself in such a wonderful community where everyone looks out for one another and has everyone's best interests at heart. If I get in trouble with the law it should be looked at differently than if a member of the Better People runs afoul of the law. They deserve that margin of error, because one of their parents or grandparents afforded them that luxury. It's alright if one of them robs somebody or drinks and drives or snorts cocaine, because they can afford it. We commoners should know better, because we have no business doing things such as that. Why? Because that's just the way it is.
I truly appreciate what my family has done for me and the principles and values that they provided as my foundation. I regret that I have not been able to do them proud and rise higher than I have on the ladder of success.
In the end, I know it has to all be my fault, because I constantly have heard such thoughts expressed in the community. I guess I'm just lazy and really not all that smart. Although I have always kept in good financial stead, I am sure that those who haven't have willfully chosen to not meet their financial obligations. I am sure there are plenty of good reasons to explain why so many people can't find jobs in this community and are having difficulty making ends meet. It has to be their fault.
The numbers don't lie. Those numbers reflect how lazy a lot of people are in this community. If people are struggling, then they need to learn to do with less, that is the lesson that I have been learning over the last several years. Who needs a house, a car, a significant other? I mean, in the end, why do you even need electricity or food or water? Everything in life is a luxury meant only for those who deserve it. Why do any of we commoners desire to have goals or pleasures in life? We are here to work and provide for those who are better than us. That is our role. We are here to be the worker bees.
We should be happy, because some of us still have jobs. We should be thankful that it is taking so long for the robotics to be developed that will do our work and not grouse or expect anything in return. At that point in time there will be no use for us at all. All we are is vermin, who are sucking up oxygen and stealing from the Better People by utilizing their resources and they are forced to endure us. Be glad, for time is running out for people like us. Get on you knees and beg for forgiveness, because we are not worthy. Praise be to the Better People.
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Friday, September 2, 2011
Thursday, September 1, 2011
Morganton Shenanigans - Wide Ranging & Far Reaching Implications
From WSOC-TV: Burke County Takes Over Morganton Elections (Dave Faherty surprised Burke County Board of Elections Director Debbie Mace on Tuesday and posted the story to WSOC TV's website.)
"It's so nonpolitical. We don't get wrapped up in other governments like school board races,” said Mayor Mel Cohen. “Fortunately we don't have that political atmosphere in our city. We appoint people by who they are not what political party they are." Many voters said they had no idea why the city held its elections early. Betty Carson has been voting in Morganton for five decades and wasn’t aware of the reason, but she said cost should be factor. "As the way we are in financial difficulty right now, it would be better to do it all together to save money,” she said. The Board of Elections hopes to revisit the timing of the elections some time after all the votes are counted.
(The Hound): The reason why Morganton holds this election separate from other elections is because they want to reduce the turnout, which helps the local elected officials better control the outcome. In Hickory, there was a 6+ fold increase in voter participation in the 2008 Presidential election compared to the 2009 city election and the 2010 Federal Election saw several times the turnout of the 2009 election. I believe that local officials don't want Federal and State elections to hold influence over voter decisions regarding City officials. A public that is likely to sweep out incumbents at the State and Federal level would be just as likely to sweep out local officials and in my opinion justifiably so.
To me the money issue is a non-issue. The City (government) is the body that has chosen to hold these separate elections for years. The City officials have chosen to do it this way. Here in Hickory, we have a Mayor that is trying to keep a referendum about the confusing and befuddling "Modified At-Large" system of city voting from garnering enough signatures by expressly telling people that it will cost money -- ( probably $800,000 like the city owned pools that he wanted torn up last year - haha!!!). What he fails to tell people is that we already spend extra money on elections that aren't necessary, because of the way this modified election system works with Ward Primaries in October and a General the first week in November. It is all about trying to control who sits on the Council, as best as they can, just like in Morganton.
As Mayor Wright has stated, they don't want people on the Council who don't focus on City Wide Issues. What does this mean? They don't want people who might bring ward specific concerns to the table. They want people who are willing to go along to get along with the Power's That Shouldn't Be's agenda, which might just (and probably) have negative consequences towards your own ward. If ward constituents don't like specific policies, then tough, they are going to shove it down your throat anyway and they don't want a "Trouble Maker" sitting on the Council giving official credence to those concerns.
The Governor is feeling the heat of corruption in the Democrat party. This is the reason for her "shake-up." Juliegh Sitton, an attorney from Morganton and until late last week was the Director of the Governor's Western Office, is accused of campaign "issue" involving a local millionaire in Morganton who is a Fast Food magnate. This Fast Food magnate has been implicated in several scandals including with the former Governor Mike Easley, Governor Bev Perdue, and from what I have read and heard the Football Scandal at the University of North Carolina at Chapel Hill.
Juleigh Sitton is the daughter of former Superior court Judge Claude Sitton.
Connect the Dots:
SBI investigates contributions for Perdue's campaign flights - Morganton News Herald - Mike Baker - October 8, 2010
Why Did Perdue Campaign Not Use Cheaper State Plane? - Carolina Journal - Don Carrington - September 30, 2010
Dozens Involved in Aircraft Provider Program for Perdue, Easley - Carolina Journal - Don Carrington - October 28, 2010
"It's so nonpolitical. We don't get wrapped up in other governments like school board races,” said Mayor Mel Cohen. “Fortunately we don't have that political atmosphere in our city. We appoint people by who they are not what political party they are." Many voters said they had no idea why the city held its elections early. Betty Carson has been voting in Morganton for five decades and wasn’t aware of the reason, but she said cost should be factor. "As the way we are in financial difficulty right now, it would be better to do it all together to save money,” she said. The Board of Elections hopes to revisit the timing of the elections some time after all the votes are counted.
(The Hound): The reason why Morganton holds this election separate from other elections is because they want to reduce the turnout, which helps the local elected officials better control the outcome. In Hickory, there was a 6+ fold increase in voter participation in the 2008 Presidential election compared to the 2009 city election and the 2010 Federal Election saw several times the turnout of the 2009 election. I believe that local officials don't want Federal and State elections to hold influence over voter decisions regarding City officials. A public that is likely to sweep out incumbents at the State and Federal level would be just as likely to sweep out local officials and in my opinion justifiably so.
To me the money issue is a non-issue. The City (government) is the body that has chosen to hold these separate elections for years. The City officials have chosen to do it this way. Here in Hickory, we have a Mayor that is trying to keep a referendum about the confusing and befuddling "Modified At-Large" system of city voting from garnering enough signatures by expressly telling people that it will cost money -- ( probably $800,000 like the city owned pools that he wanted torn up last year - haha!!!). What he fails to tell people is that we already spend extra money on elections that aren't necessary, because of the way this modified election system works with Ward Primaries in October and a General the first week in November. It is all about trying to control who sits on the Council, as best as they can, just like in Morganton.
As Mayor Wright has stated, they don't want people on the Council who don't focus on City Wide Issues. What does this mean? They don't want people who might bring ward specific concerns to the table. They want people who are willing to go along to get along with the Power's That Shouldn't Be's agenda, which might just (and probably) have negative consequences towards your own ward. If ward constituents don't like specific policies, then tough, they are going to shove it down your throat anyway and they don't want a "Trouble Maker" sitting on the Council giving official credence to those concerns.
The Governor is feeling the heat of corruption in the Democrat party. This is the reason for her "shake-up." Juliegh Sitton, an attorney from Morganton and until late last week was the Director of the Governor's Western Office, is accused of campaign "issue" involving a local millionaire in Morganton who is a Fast Food magnate. This Fast Food magnate has been implicated in several scandals including with the former Governor Mike Easley, Governor Bev Perdue, and from what I have read and heard the Football Scandal at the University of North Carolina at Chapel Hill.
Juleigh Sitton is the daughter of former Superior court Judge Claude Sitton.
Connect the Dots:
SBI investigates contributions for Perdue's campaign flights - Morganton News Herald - Mike Baker - October 8, 2010
Why Did Perdue Campaign Not Use Cheaper State Plane? - Carolina Journal - Don Carrington - September 30, 2010
Dozens Involved in Aircraft Provider Program for Perdue, Easley - Carolina Journal - Don Carrington - October 28, 2010
Unnamed Source Paid for Perdue Campaign Flight - Lincoln Tribune - February 24, 2011
( The Hound ): Who can you trust in this area. Every time we see the light shined upon one of these issues it looks dirty. We always look to the eastern side of North Carolina and point a finger towards the corruption we see there. What about the corruption we see in our own backyard? It's the same thing!
Wednesday, August 31, 2011
Those that don’t remember the past are doomed to repeat it - by Silence DoGood
I think it safe to say that we’ve all heard the phrase, “Those that don’t remember the past are doomed to repeat it.” I’m talking about the upcoming election cycle, but probably not in the context in which you might be thinking. Does everyone remember how Adolph Hitler came to power? For those of you not alive during that time in history, Germany had been stripped of her wealth and ability coming out of World War I. Germany was forced to pay war reparations on the basis of, ‘to the victors go the spoils.’ Germany was in the middle of a great political struggle between a myriad of factions. And the world was heading into The Great Depression.
You may hold the opinion that there is nothing of that era that is even remotely close to things as they are today. I would like to differ with that view. An entire people had been stripped of their national identity and forced into abject poverty as a nation. There was no clear leadership and indeed, the numerous factions vying for political control of the nation were literally fighting in the streets for superiority. The people themselves had no hope and were forced into subservience. Adolph Hitler rose to power, a figurative phoenix rising from the ashes if you will, and was able to pull Germany together and give it a sense of purpose. A sense of purpose based on racial and ethnic superiority and a military economy to re-arm and re-equip the Army, Navy, and Air Force of Germany.
Today, the United States rests in the shadow of it’s former self, just like Germany prior to the arrival of Hitler. Individual and Corporate greed has stripped our ability and our status as leader in the free world, just like the Allied powers stripped Germany immediately after World War I. We are incapable of sustaining ourselves as an industrial nation.
But the coup d’tat that was to become the greatest horror of the 20th Century began as a political rallying cry from a political extremist with well orchestrated moves. The rhetoric that propelled Hitler into power was based on nationalism and fervent pride in the German people and Nation. There was no political discourse after Hitler assumed power. The only detail to be concerned with was the Nazi detail and whatever Hitler said was the way it was, in essence, might makes right. Today, rather than finding ourselves in discourse over political direction, which ideally would be slightly left or slightly right of the middle, we find ourselves locked in mortal combat as political adversaries with each other, not to accomplish the most good for the most people, but as a game of one upping each other in order to win. Just like that period of time in Germany, each faction is trying to gain political control. And as if that weren’t enough, there are factions in both mainstream parties that want to splinter and faction themselves off. Yes, the Tea Party is an example of that concept. It pays to bear in mind that America and Americans atypically gravitate toward the political middle or moderate view/stance. Few take radical or extreme stances in politics. Yet, we have this radicalization of politics and as may be elucidated in a broad and general sense, when these factions fail to succeed in one aspect, they often are willing to try another. What that means is, if they are unable to win their objectives politically, they are oft times willing to try to gain their objectives with force and violence. Take a look at how most terrorist groups grow and evolve. Born out of social strife and struggle, they fail to win or garner influence through traditional means so they turn to violence as a means to an end. Am I implying that your local tea partier will resort to violence? No, but there is that potential. To provide levity, look at groups such the Animal and Earth Liberation Fronts (ALF and ELF) that resort to criminal acts and violence in order to perpetuate their ideas on others. Who dares wins? No one seems concerned about the whole, unless it involves waving a flag and the sphere of interest encompasses that pinpoint ideology that each adheres to.
Don’t take the next few statements out of context. The only reason I use the political right is because they are currently at the forefront of the national spotlight and easy to view and assess. If it were turned around, I would do the same with the left. The political frontrunners of the right tell us that all it takes is for America to stand strong. Well, I’m all for that. It’s time we started making our own cars, televisions, furniture, appliances, machinery, and food again. But it seems the only thing that we can build is bombs, tanks, and planes. It’s time we rejuvenated our steel industry, our electronics and oil industries. It’s time we made it so expensive for those criminal corporations to off shore themselves and try to do business here that it is cheaper to hire, reside, and produce here. Now you can call that a tax, tariff, or protectionism it matters not. What it does is take away the advantage of going off shore in the first place. It protects our people, our workers, and our industries. Those that clamor for a free market economy are often the ones that stand to benefit the most. They want free markets, but they likewise want tax shelters, breaks, and subsidies paid to them. They want it all. And again the corollary shows between the US and Germany during the rise of Hitler. Hitler watched the corporations grow fat on war profits and stripped the people of the means to live, subsist, and make a decent life for themselves. And he turned the focus of the people on those corporations and demonized them. Look at the insane profits being generated at present by the corporations in the United States and held off shore. I’m not talking small business. Small business is hurting right along with the middle class.
The right or conservative factions scream that it is the fault of the current sitting president. Deficit spending, huge debt, printing money devaluing the currency, all equate to a backslide of the United States from hegemon. We have stood by and watched the protections of the Constitution erode on the basis of personal safety. We aren’t any safer than we were 10 years ago, as we approach the anniversary of the bombing really, of the World Trade Center and the Pentagon. There is an illusion that we’re safer. But what happens when you feel safe, regardless of whether you are or not? You relax, you let your guard down, and bam. Sure there have been reports every now and then about this, that, or the other terrorist threat or attempt successfully abated. That is to keep the masses pacified and prevent words such as these. If these words challenging the voracity of such action do arise, then it provides ‘proof’ that the Patriot Act is working.
“Freedom isn’t Free” is another one of those terms that we’ve all heard before. And it’s true. The structure of our society is such that we have the greatest personal liberty, or did, of any sovereign nation on the planet. There are risks inherent to that concept and living that way, including the occasional loss of life. Be it through a criminal act like armed robbery or a terrorist attack, domestic or international. But the fact that our system succeeds is the testament to greatness. That the people are resolute in their will to exercise the freedoms they have, despite being bombed, slashed, or repressed. Where we fail is that we barter away our liberties a bit at a time for the benefit of feeling safe, or want of a job, or a million and one other things that are of little consequence to survival.
Because that is where we are at present folks. We teeter on the brink. The middle class of this nation has been reduced to the point that it is simply getting by. The elites of this nation and world are increasing their wealth in leaps and bounds and we are admonished that we merely have to work hard in order to succeed. That day has past I’m afraid. We must work hard now just to survive. To provide food, shelter, and basic needs, we are forced to settle for less than what we are deserving of, simply because we are in a moment of weakness and accept what is offered rather than hold out and demand what is ours by right. And you know something? We have quite literally done it to ourselves. We take what we are told at face value and give control to those who would make a mockery of our freedoms and processes. So while I brought the Presidential aspirants of the right side of the line into focus earlier, it cuts hard across both sides and all political ideologies, and that brings me back to the original premise of this piece. This nation is rife for the assent to power of a person such as Adolph Hitler. This nation is at a political low tide and feelings of desperation are pervading the population. As more and more people figure out how we’ve been duped and how they’ve been taken advantage of by those who take advantage of rules and laws they’ve had passed for the express purpose of running rough shod over a vast majority of the population, all in the name of making a buck, class conflict moves closer and a person of the ilk of Hitler taking power comes closer to being a reality.
I’ve covered quite a bit and if you’re still reading, thank you. The reason I hit so many topics is because those are general topics of the talking points we all hear on what is now a regular basis. I haven’t covered them to great depth, since to do so would increase this to something of a thesis. But look at the time and number of words used to briefly bring each into context. Now look at what the politicians are wanting you to decide on a 30 second blurb of tilted logic. We are going to hear quite a bit in this election cycle, locally as we move closer to November and nationally as primary season approaches mid 2012. I would urge and encourage you to dig deep on your selections and then choose wisely. And lastly, be careful what it is you ask for. You just might get it.
You may hold the opinion that there is nothing of that era that is even remotely close to things as they are today. I would like to differ with that view. An entire people had been stripped of their national identity and forced into abject poverty as a nation. There was no clear leadership and indeed, the numerous factions vying for political control of the nation were literally fighting in the streets for superiority. The people themselves had no hope and were forced into subservience. Adolph Hitler rose to power, a figurative phoenix rising from the ashes if you will, and was able to pull Germany together and give it a sense of purpose. A sense of purpose based on racial and ethnic superiority and a military economy to re-arm and re-equip the Army, Navy, and Air Force of Germany.
Today, the United States rests in the shadow of it’s former self, just like Germany prior to the arrival of Hitler. Individual and Corporate greed has stripped our ability and our status as leader in the free world, just like the Allied powers stripped Germany immediately after World War I. We are incapable of sustaining ourselves as an industrial nation.
But the coup d’tat that was to become the greatest horror of the 20th Century began as a political rallying cry from a political extremist with well orchestrated moves. The rhetoric that propelled Hitler into power was based on nationalism and fervent pride in the German people and Nation. There was no political discourse after Hitler assumed power. The only detail to be concerned with was the Nazi detail and whatever Hitler said was the way it was, in essence, might makes right. Today, rather than finding ourselves in discourse over political direction, which ideally would be slightly left or slightly right of the middle, we find ourselves locked in mortal combat as political adversaries with each other, not to accomplish the most good for the most people, but as a game of one upping each other in order to win. Just like that period of time in Germany, each faction is trying to gain political control. And as if that weren’t enough, there are factions in both mainstream parties that want to splinter and faction themselves off. Yes, the Tea Party is an example of that concept. It pays to bear in mind that America and Americans atypically gravitate toward the political middle or moderate view/stance. Few take radical or extreme stances in politics. Yet, we have this radicalization of politics and as may be elucidated in a broad and general sense, when these factions fail to succeed in one aspect, they often are willing to try another. What that means is, if they are unable to win their objectives politically, they are oft times willing to try to gain their objectives with force and violence. Take a look at how most terrorist groups grow and evolve. Born out of social strife and struggle, they fail to win or garner influence through traditional means so they turn to violence as a means to an end. Am I implying that your local tea partier will resort to violence? No, but there is that potential. To provide levity, look at groups such the Animal and Earth Liberation Fronts (ALF and ELF) that resort to criminal acts and violence in order to perpetuate their ideas on others. Who dares wins? No one seems concerned about the whole, unless it involves waving a flag and the sphere of interest encompasses that pinpoint ideology that each adheres to.
Don’t take the next few statements out of context. The only reason I use the political right is because they are currently at the forefront of the national spotlight and easy to view and assess. If it were turned around, I would do the same with the left. The political frontrunners of the right tell us that all it takes is for America to stand strong. Well, I’m all for that. It’s time we started making our own cars, televisions, furniture, appliances, machinery, and food again. But it seems the only thing that we can build is bombs, tanks, and planes. It’s time we rejuvenated our steel industry, our electronics and oil industries. It’s time we made it so expensive for those criminal corporations to off shore themselves and try to do business here that it is cheaper to hire, reside, and produce here. Now you can call that a tax, tariff, or protectionism it matters not. What it does is take away the advantage of going off shore in the first place. It protects our people, our workers, and our industries. Those that clamor for a free market economy are often the ones that stand to benefit the most. They want free markets, but they likewise want tax shelters, breaks, and subsidies paid to them. They want it all. And again the corollary shows between the US and Germany during the rise of Hitler. Hitler watched the corporations grow fat on war profits and stripped the people of the means to live, subsist, and make a decent life for themselves. And he turned the focus of the people on those corporations and demonized them. Look at the insane profits being generated at present by the corporations in the United States and held off shore. I’m not talking small business. Small business is hurting right along with the middle class.
The right or conservative factions scream that it is the fault of the current sitting president. Deficit spending, huge debt, printing money devaluing the currency, all equate to a backslide of the United States from hegemon. We have stood by and watched the protections of the Constitution erode on the basis of personal safety. We aren’t any safer than we were 10 years ago, as we approach the anniversary of the bombing really, of the World Trade Center and the Pentagon. There is an illusion that we’re safer. But what happens when you feel safe, regardless of whether you are or not? You relax, you let your guard down, and bam. Sure there have been reports every now and then about this, that, or the other terrorist threat or attempt successfully abated. That is to keep the masses pacified and prevent words such as these. If these words challenging the voracity of such action do arise, then it provides ‘proof’ that the Patriot Act is working.
“Freedom isn’t Free” is another one of those terms that we’ve all heard before. And it’s true. The structure of our society is such that we have the greatest personal liberty, or did, of any sovereign nation on the planet. There are risks inherent to that concept and living that way, including the occasional loss of life. Be it through a criminal act like armed robbery or a terrorist attack, domestic or international. But the fact that our system succeeds is the testament to greatness. That the people are resolute in their will to exercise the freedoms they have, despite being bombed, slashed, or repressed. Where we fail is that we barter away our liberties a bit at a time for the benefit of feeling safe, or want of a job, or a million and one other things that are of little consequence to survival.
Because that is where we are at present folks. We teeter on the brink. The middle class of this nation has been reduced to the point that it is simply getting by. The elites of this nation and world are increasing their wealth in leaps and bounds and we are admonished that we merely have to work hard in order to succeed. That day has past I’m afraid. We must work hard now just to survive. To provide food, shelter, and basic needs, we are forced to settle for less than what we are deserving of, simply because we are in a moment of weakness and accept what is offered rather than hold out and demand what is ours by right. And you know something? We have quite literally done it to ourselves. We take what we are told at face value and give control to those who would make a mockery of our freedoms and processes. So while I brought the Presidential aspirants of the right side of the line into focus earlier, it cuts hard across both sides and all political ideologies, and that brings me back to the original premise of this piece. This nation is rife for the assent to power of a person such as Adolph Hitler. This nation is at a political low tide and feelings of desperation are pervading the population. As more and more people figure out how we’ve been duped and how they’ve been taken advantage of by those who take advantage of rules and laws they’ve had passed for the express purpose of running rough shod over a vast majority of the population, all in the name of making a buck, class conflict moves closer and a person of the ilk of Hitler taking power comes closer to being a reality.
I’ve covered quite a bit and if you’re still reading, thank you. The reason I hit so many topics is because those are general topics of the talking points we all hear on what is now a regular basis. I haven’t covered them to great depth, since to do so would increase this to something of a thesis. But look at the time and number of words used to briefly bring each into context. Now look at what the politicians are wanting you to decide on a 30 second blurb of tilted logic. We are going to hear quite a bit in this election cycle, locally as we move closer to November and nationally as primary season approaches mid 2012. I would urge and encourage you to dig deep on your selections and then choose wisely. And lastly, be careful what it is you ask for. You just might get it.
Tuesday, August 30, 2011
Money Creation - Michael E. Badgett
August 30, 2011
Preface:
Wall Street Aristocracy Got $1.2 Trillion in Secret Fed Loans (Video): http://www.youtube.com/watch?
Aug. 22 (Bloomberg) -- http://www.bloomberg.com/news/Gerald Celente ~ $1.2 Trillion Secret Fed Loans to Wall St Aristocracy:
Money Creation
“Give me control of a nation’s currency and I care not who makes its laws.”
---Murray Rothschild, Banker"
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
— Henry Ford, Car Maker
---Murray Rothschild, Banker"
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
— Henry Ford, Car Maker
The Federal Reserve
The Federal Reserve is not Federal and it doesn't have any reserves. The Federal Reserve is owned by private banks and is not under the control of our Congress.One of the jobs of The Federal Reserve is to supply money to the U.S. However, for every dollar The Federal Reserve supplies, a debt to the people is created. Article 1, Section 8 of the U.S. constitution states that our Congress has the power to coin money and regulate the value there of. Our Constitution does not say anything about a private bank controlling our money.
Recently, a partial audit of the Federal Reserve demanded by members of congress including Dennis Kucinich, Ron Paul and Bernie Sanders showed that the Federal Reserve had given or lent $16 trillion to both U.S. and foreign banks.
Many people believe that The Federal Reserve System is not the way to move us into the future.
Who Controls the Federal Reserve?
The Federal Reserve has a chairman. The Federal Reserve Chairman is appointed by the President of the United States. Alan Greenspan was the Federal Reserve Chairman From 1987-2006. During those years we saw the deregulation of the banks, the boom in derivatives trading, the tech bubble and the beginning stages of the housing bubble. Now, since 2006 we have Ben Bernanke. He is slated to be in office until 2014. So far under his guidance, we have seen the trillions and trillions of dollars lent at no or very low interest rates to mega banks both in the U.S. and overseas. We have also seen lending to small businesses slow and the pop of the housing bubble which has left millions of Americans unemployed and foreclosed upon.These powerful individuals in control of our money system are not elected by us and don't seem to be in the business of helping us.
The Federal Reserve Supplies Money to the U.S.
There are two basic ways the Federal Reserve, the government and the member banks work together to get money into our system.
1) Treasury Bills, Notes and Bonds
One way we get money into the system is by selling bills, notes and bonds. Countries, states, counties and cities sell bonds in order to raise money to spend.
The difference between bills, notes and bonds are their length until maturity:
* Treasury bills are issued for terms less than a year.
* T-notes are issued in terms of 2, 3, 5, and 10 years.
* Treasury bonds are issued in terms of 30 years.
* T-notes are issued in terms of 2, 3, 5, and 10 years.
* Treasury bonds are issued in terms of 30 years.
Who Buys Bonds?
Anyone can buy a bond. Some people buy bonds as a traditionally safe way to invest their money. Investment firms often invest retirement funds in bonds. When you buy a bond, you get paid back with interest.
Interest Paid to Bondholders
We all know the costs associated with borrowing money from the banks, whether via our credit cards, our mortgages or car loans. However, There is a hidden cost of money that we don't often think. The money our tax dollars go to to pay interest to bondholders.
Interest Paid to U.S. Treasury Bondholders
When treasury bonds are sold, the U.S. government gets the money and uses it to pay for things in its budget like national defense, social security and Medicare. When we pay our federal taxes some of it goes to paying the bondholders. Most of this interest the Federal Reserve earns from its bond holdings is returned to the treasury, but not all of it. In fact, when you pay U.S. taxes, your money goes to paying off the bondholders!
In FY 2010 the interest on the debt, incurred largely by the sale of bonds, was $414 billion. The interest on the debt is the fifth largest Federal budget item, after Defense and Security spending ($890 billion), Social Security ($730 billion) and Medicare ($490 billion). (Source: U.S. Treasury, Interest)
2) Money enters our Economy When Banks Make Loans.In FY 2010 the interest on the debt, incurred largely by the sale of bonds, was $414 billion. The interest on the debt is the fifth largest Federal budget item, after Defense and Security spending ($890 billion), Social Security ($730 billion) and Medicare ($490 billion). (Source: U.S. Treasury, Interest)
Besides the sale of treasuries, another way money enters are system is through loans. Essentially, there is no money until it is borrowed from a bank. Here is a typical sequence of events:
1) The Federal Reserve lends money to one of its member banks, such as The Bank of America, Wells Fargo, or U.S. Bank. If a bank borrows $1,000 it is entered as a credit on the Federal Reserve balance sheet. There is no actual money. Money is just a bookkeeping entry on a screen. (Member banks borrow money from the Federal Reserve at a low interest rate, 0.2% to 1.27%.)
2) The member bank now has $1,000 and can leverage this $1,000, which means it can multiply it. The bank can loan out $9000 to someone. (The bank just has to keep 10% of its money on its balance sheet in reserves.)
3) Someone comes in to borrow money $9,000 to buy a car. The banker types "$9,000" into his computer. The money didn’t exist until the loan was made. It is typed in as a credit to the bank. The bank might loan out this money at 12%.
4) Now the person who borrowed the $9,000 has to pay off the $9,000 with interest. Over the life of that loan, the person might end up paying back the bank $12,000.
A: Those banks can make a lot of money just by virtue of being banks! Here in North Dakota, credit is flowing, interest rates are low and my business is booming.
B: Here in Washington, things aren't quite like that yet. But we are on our way. More people are realizing that public money should be seen as a public resource rather than as a money making mechanism for banks
B: Here in Washington, things aren't quite like that yet. But we are on our way. More people are realizing that public money should be seen as a public resource rather than as a money making mechanism for banks
Bottom LIne: A chunk of our U.S. debt and state debt is because of having to pay interest to bond holders. Another part of our state debt is having to pay interest on money our state borrows from big banks.
Bonds, Debt to Banks----How would a Public Bank Differ?
Once a public bank gets started, (capitalized), it holds the tax payer revenue. A public bank is mandated to invest in the people and projects in their region or state. It makes low interest loans to small businesses. More credit to businesses increases employment and increases state tax revenue. Also there is less need to sell bonds for projects because the state has it's own credit creation machine using the principle of leverage that all banks use.
Public banks help end the debt cycle. They tilt us toward a growth cycle.
Private people profit from the money creation process?
A: I'm a little bit confused, upset and shocked by this.
B: I was too. But public banking is a solution! We should be able to supply our own money debt free as the U.S. Constitution instructed us, or at least at very low interest and we shouldn't have to pay interest to private people for the use of our national currency!
The Economic Future --- North Carolina
If North Carolina had a public bank, like the one in North Dakota, we would be able to control the interest rate and decide to whom the money was lent.
The interest earned from the loans would be returned to Washington state to be used to benefit North Carolinians. Less of our money would go to paying off bondholders.
The interest earned from the loans would be returned to Washington state to be used to benefit North Carolinians. Less of our money would go to paying off bondholders.
Join the Push for Public Banking!
http://publicbanking.
My suggestion is that we start printing pink slips for Democrat & Republican politicians instead of more dollars!
Dump Democrats & Republicans 2012
The Future Is Now!
Michael E. Badgett
217 W. Church St.
Mount Airy, NC 27030
336-755-3487
mebadgett@roadrunner.com
http://www.facebook.com/
Dump Democrats & Republicans 2012
The Future Is Now!
Michael E. Badgett
217 W. Church St.
Mount Airy, NC 27030
336-755-3487
mebadgett@roadrunner.com
http://www.facebook.com/
Sunday, August 28, 2011
Economic Stories of Relevance in Today's World -- August 28, 2011
(The Hickory Hound) - In a comment related to the article from this past week entitled Hal Row doesn't want us rocking Hickory's boat, Silence GoGood wrote a comment in which he goes into specific details related to the "It takes a Retirement Village" paradigm that community leaders are attempting to shove down out throats by hook or by crook. What we need to see is balance, but the authoritarians who run this community, along with those who go along to get along, and the ostriches want to continue along the path towards the trainwreck that most of us are foretelling. The local PTBs are in hot pursuit of people who they call halfbacks, who have moved from the Northeast to Florida and the PTBs anecdotally tell are going to move to our area, because they don't like Florida's climate. What the Geniuses don't look at is how Orlando, Miami, and the Tampa area's real estate markets are completely decimated. These markets have lost half of their value from the peak. The local PTBs, who's vast majority are in this age bracket and also are several times better off than we the working class, can afford this mistake. Those of us who have to work every day can not. I have met Silence DoGood and he is a person who has been in a position to know what is going on around here. Band Aid solutions are not the answer to our problems. This retirement area idea is a waste of time and energy and is just a way to push the problem down the road just like the politicians in Washington do. The younger generations are going to be the ones who have to deal with the fallout.
Silence DoGood commented...
Homeowner Associations in Need of Cash Sue to Force Foreclosures - Bloomberg - John Gittelsohn - Aug 23, 2011 - Members of the Vintage East Condominium Association in Miami Beach got tired of waiting for JPMorgan Chase & Co. (JPM) to foreclose on unit 9, so they sued the bank in February to take control of the property... In June, more than four years after the owner stopped making payments, a judge ruled that JPMorgan lost its claim to the $144,000 mortgage. The apartment is now on the market for $87,500, and the association may stave off insolvency with proceeds from the sale and a new owner who pays monthly dues, said Jane Losson, a board member at the complex. Four of the 11 other owners at the property are also behind on dues... “I find it an outrage that the bank had decided to do nothing and the other owners got stuck,” Losson, who’s had her Vintage East condo since 2004, said in a telephone interview. “If we get this unit sold, we’ll have a little money.”... Financially troubled condo associations are taking banks to court as foreclosure delays enable delinquent homeowners to stay in their buildings for years, often without paying dues that keep boards running. The groups start by pressuring lenders to speed up home seizures and take over payment of the monthly fees. In extreme situations, like the Vintage East case, associations may force banks to give up rights to the property.
‘MERS morass’ is hanging up negotiations on foreclosure settlement - Washington Post with Bloomberg - Brady Dennis - August 24, 2011 - The pending multibillion-dollar settlement with banks centers on “robosigned” documents and court filings and other problems related to mortgage servicing that caused a national uproar last fall. Much of that flawed paperwork flowed through MERS... Meanwhile, the same system helped make possible the boom in mortgage-backed securities that fueled the housing crisis by allowing banks to quickly and cheaply transfer the ownership of loans. Questionable securitization practices have sparked other state and federal investigations, but they are not the focus of the current settlement talks.. Given the broad reach that MERS has into every aspect of the mortgage and foreclosure process, officials have been grappling with whether they can address one element of the MERS business model in the current settlement while leaving other aspects open to future investigation. In part, they say, the patchwork of conflicting laws and court decisions in different states makes a one-size-fits-all solution difficult. In addition, they are facing pressure from banks that already stand to pay billions of dollars in penalties and would prefer to steer clear of the MERS problem altogether in the current negotiations... Several people familiar with the negotiations said that officials leading the talks have no intention of releasing MERSCORP, the parent company of MERS, from liability claims. The trickier question is how to address MERS-related foreclosure cases that involve the banks under scrutiny.
Obama Goes All Out For Dirty Banker Deal - Rolling Stone - Matt Taibbi - August 24, 2011 - On the one side is Eric Schneiderman, the New York Attorney General, who is conducting his own investigation into the era of securitizations – the practice of chopping up assets like mortgages and converting them into saleable securities – that led up to the financial crisis of 2007-2008... On the other side is the Obama administration, the banks, and all the other state attorneys general... This second camp has cooked up a deal that would allow the banks to walk away with just a seriously discounted fine from a generation of fraud that led to millions of people losing their homes... The idea behind this federally-guided “settlement” is to concentrate and centralize all the legal exposure accrued by this generation of grotesque banker corruption in one place, put one single price tag on it that everyone can live with, and then stuff the details into a titanium canister before shooting it into deep space... This is all about protecting the banks from future enforcement actions on both the civil and criminal sides. The plan is to provide year-after-year, repeat-offending banks like Bank of America with cost certainty, so that they know exactly how much they’ll have to pay in fines (trust me, it will end up being a tiny fraction of what they made off the fraudulent practices) and will also get to know for sure that there are no more criminal investigations in the pipeline.
Wake Up America! 10 Very Obvious Reasons Why The Devastating U.S. Jobs Famine Is Going To Suck The Hope Right Out Of America - The Economic Collapse Blog -
#1 Our politicians simply do not care that America is bleeding jobs. Amazingly, even with rampant unemployment plaguing this nation, Obama administration officials continue to declare that it is okay that we are losing manufacturing jobs because a lot of cheaper products are things that "we don't want to make in America" anyway. The following is what U.S. Trade Representative Ron Kirk told Tim Robertson of the Huffington Post the other day....
#2 The Obama administration has now instituted a policy of "backdoor amnesty" for illegal immigrants by executive fiat. Janet Napolitano has announced that from now on there will be a case-by-case review of all deportation cases. Cases involving criminals will be prioritized and most others will be thrown out. A list of 19 factors that will allow government officials to use "prosecutorial discretion" in immigration cases has been distributed. Recently, I listed a few of those "factors" on The American Dream website....
#3 State and local governments all over the country are dead broke, and an atmosphere of austerity is sweeping the nation. Right now state and local governments are slashing jobs at an unprecedented rate.
#4 U.S. businesses are being absolutely crushed by mountains of nightmarish regulations, and yet the federal government, the state governments and local governments just continue to pile them on. For example, the U.S. Food and Drug Administration is projecting that the food service industry will have to spend an additional 14 million hours every single year just to comply with new federal regulations that mandate that all vending machine operators and chain restaurants must label all products that they sell with a calorie count in a location visible to the consumer. Due to these kinds of ridiculous regulations, many business owners have simply given up and many other potential business owners figure that owning a business is just not worth the hassle.
#5 As I have written about so many times before, the "global economy" is really bad for American workers. When we merged our economy with the economies of nations where it is legal to pay slave labor wages, we made it inevitable that we would start losing massive amounts of jobs.
#6 Unfair trade is absolutely killing our economy. It would be one thing if the U.S. was running a massive trade deficit solely because we were incompetent. But the truth is that a big factor is that a number of our "trade partners" are economic predators that are purposely trying to prey on us.
#7 Small businesses are traditionally one of the primary engines of job growth in this country. But right now, small businesses all over America are having a really hard time getting anyone to loan them money. A big reason for this is that the Federal Reserve is actually paying banks not to make loans. Unfortunately, if small businesses can't get the money that they need, then they can't hire people.
#8 A lot of people may not want to hear this, but businesses in the United States are being absolutely taxed into oblivion. The U.S. now has the highest corporate tax rate in the world, but that is only a very small part of the story.
#9 The national debt is like a giant albatross around the neck of the economy. The U.S. national debt has increased by more than 4 trillion dollars since Barack Obama took office. The rampant government spending that has been going on has not done much to create new jobs, but it will be a massive burden that will weigh down economic growth for many years to come.
#10 Right now America is very deeply divided and a tremendous sense of pessimism has set in. One recent survey found that 48 percent of Americans believe that it is likely that another great Depression will begin within the next 12 months. With such a negative feeling in the air, it is going to make it even less likely that business owners will be in the mood to hire people.
Silence DoGood commented...
Interestingly enough, some may not know of the existence of a feasibility study and committee from different government and private agencies to assess the viability of needs for seniors and their impact. That committee met across late 2009 and 2010 as a first stage study and analysis. But here’s the deal. To make Catawba County and Hickory viable in the vision of Senioropolis, it is going to take major investment in infrastructure, most notably, public transportation. The current grids and major connectors just aren’t viable for low speed vehicles and there isn’t available right of way to make low speed vehicle only lanes. The only way to do that with what you have would be to cut the number of lanes currently in use. Think of that nightmare. Now, you could adopt local ordinances authorizing low speed vehicles in the regular traffic stream. But that would only suffice on local streets. State maintained roads would limit those vehicles to being used on 35mph speed zones and under. Think of the number of state maintained roads in Hickory. Most of your major cross-town arteries are included in that group. Now think about Ma and Pa in a revved up golf kart playing in the traffic. Light rail would be an excellent alternative, but just an off the top of my head figure would be somewhere around $15 billion to minimally cover Catawba County and each of the municipalities with light rail and a single spur line. No one is going to cough up that kind of cash and the Federal Government is strapped to the point that grant money isn’t going to be available. Yes, there is a bus line and vans. Available county-wide at a price to other municipalities. So complete coverage doesn't exist because people don’t want to pay for any number of reasons. Likewise, those buses don't run out into Vale or the nether reaches of Eastern Catawba. Private investment wouldn’t realize a profit for so long because of the low fare pricing to make it utilized it’s not worth it. So despite the hype, talk, and rhetoric, the reality of making it possible just isn’t there.
That isn’t to say that the plan won’t still be implemented. By that, I mean sell the homes, the senior living centers, the healthcare availability, and once they’re here, let them worry about how to get around and get to the places they need to go. The real estate proles have made their bucks, likewise the contractors, and the investment has been minimal… at first. You now have an entire and substantial population of people that are completely or wholly dependent on public services for their needs. That will in turn stretch those tax dollars even tighter and the ability to provide services thinner. And this population is known for their participation in the electoral process.
So while it is important to listen to what is being said, it is likewise important to know the background and what isn’t being said. The later is usually more informative.
But the entire nuts and bolts issue here is planning. Just like you, Harry and Thom, have eluded to in any number of posts in the past. Those in charge, now and in generations past, failed to see the future. These people failed because they planned for now. They look at what they needed for ‘the now’ as opposed to what they needed for ‘then’. The rationale there being, “In 30 years, it will be someone else’s problem.” They fail to take into account factors such as population trends, needs, and where they want to be for the future, from point A to point Z. It’s all neat, packaged and slurped down by the masses like a hungry seal slurps down a fish. Just like now, a knee jerk deal changer with a $20 million investment is going to turn Hickory around again. You can’t do it with $20 or $200 million. Where it needs to start is a change in leadership with politicians that grasp a concept of the future and at least a vague idea of how to get there, recusing themselves and their own personal benefit from the equation. The only thing you garner looking back is a glimpse of what was.
Homeowner Associations in Need of Cash Sue to Force Foreclosures - Bloomberg - John Gittelsohn - Aug 23, 2011 - Members of the Vintage East Condominium Association in Miami Beach got tired of waiting for JPMorgan Chase & Co. (JPM) to foreclose on unit 9, so they sued the bank in February to take control of the property... In June, more than four years after the owner stopped making payments, a judge ruled that JPMorgan lost its claim to the $144,000 mortgage. The apartment is now on the market for $87,500, and the association may stave off insolvency with proceeds from the sale and a new owner who pays monthly dues, said Jane Losson, a board member at the complex. Four of the 11 other owners at the property are also behind on dues... “I find it an outrage that the bank had decided to do nothing and the other owners got stuck,” Losson, who’s had her Vintage East condo since 2004, said in a telephone interview. “If we get this unit sold, we’ll have a little money.”... Financially troubled condo associations are taking banks to court as foreclosure delays enable delinquent homeowners to stay in their buildings for years, often without paying dues that keep boards running. The groups start by pressuring lenders to speed up home seizures and take over payment of the monthly fees. In extreme situations, like the Vintage East case, associations may force banks to give up rights to the property.
‘MERS morass’ is hanging up negotiations on foreclosure settlement - Washington Post with Bloomberg - Brady Dennis - August 24, 2011 - The pending multibillion-dollar settlement with banks centers on “robosigned” documents and court filings and other problems related to mortgage servicing that caused a national uproar last fall. Much of that flawed paperwork flowed through MERS... Meanwhile, the same system helped make possible the boom in mortgage-backed securities that fueled the housing crisis by allowing banks to quickly and cheaply transfer the ownership of loans. Questionable securitization practices have sparked other state and federal investigations, but they are not the focus of the current settlement talks.. Given the broad reach that MERS has into every aspect of the mortgage and foreclosure process, officials have been grappling with whether they can address one element of the MERS business model in the current settlement while leaving other aspects open to future investigation. In part, they say, the patchwork of conflicting laws and court decisions in different states makes a one-size-fits-all solution difficult. In addition, they are facing pressure from banks that already stand to pay billions of dollars in penalties and would prefer to steer clear of the MERS problem altogether in the current negotiations... Several people familiar with the negotiations said that officials leading the talks have no intention of releasing MERSCORP, the parent company of MERS, from liability claims. The trickier question is how to address MERS-related foreclosure cases that involve the banks under scrutiny.
Obama Goes All Out For Dirty Banker Deal - Rolling Stone - Matt Taibbi - August 24, 2011 - On the one side is Eric Schneiderman, the New York Attorney General, who is conducting his own investigation into the era of securitizations – the practice of chopping up assets like mortgages and converting them into saleable securities – that led up to the financial crisis of 2007-2008... On the other side is the Obama administration, the banks, and all the other state attorneys general... This second camp has cooked up a deal that would allow the banks to walk away with just a seriously discounted fine from a generation of fraud that led to millions of people losing their homes... The idea behind this federally-guided “settlement” is to concentrate and centralize all the legal exposure accrued by this generation of grotesque banker corruption in one place, put one single price tag on it that everyone can live with, and then stuff the details into a titanium canister before shooting it into deep space... This is all about protecting the banks from future enforcement actions on both the civil and criminal sides. The plan is to provide year-after-year, repeat-offending banks like Bank of America with cost certainty, so that they know exactly how much they’ll have to pay in fines (trust me, it will end up being a tiny fraction of what they made off the fraudulent practices) and will also get to know for sure that there are no more criminal investigations in the pipeline.
Wake Up America! 10 Very Obvious Reasons Why The Devastating U.S. Jobs Famine Is Going To Suck The Hope Right Out Of America - The Economic Collapse Blog -
#1 Our politicians simply do not care that America is bleeding jobs. Amazingly, even with rampant unemployment plaguing this nation, Obama administration officials continue to declare that it is okay that we are losing manufacturing jobs because a lot of cheaper products are things that "we don't want to make in America" anyway. The following is what U.S. Trade Representative Ron Kirk told Tim Robertson of the Huffington Post the other day....
#2 The Obama administration has now instituted a policy of "backdoor amnesty" for illegal immigrants by executive fiat. Janet Napolitano has announced that from now on there will be a case-by-case review of all deportation cases. Cases involving criminals will be prioritized and most others will be thrown out. A list of 19 factors that will allow government officials to use "prosecutorial discretion" in immigration cases has been distributed. Recently, I listed a few of those "factors" on The American Dream website....
#3 State and local governments all over the country are dead broke, and an atmosphere of austerity is sweeping the nation. Right now state and local governments are slashing jobs at an unprecedented rate.
#4 U.S. businesses are being absolutely crushed by mountains of nightmarish regulations, and yet the federal government, the state governments and local governments just continue to pile them on. For example, the U.S. Food and Drug Administration is projecting that the food service industry will have to spend an additional 14 million hours every single year just to comply with new federal regulations that mandate that all vending machine operators and chain restaurants must label all products that they sell with a calorie count in a location visible to the consumer. Due to these kinds of ridiculous regulations, many business owners have simply given up and many other potential business owners figure that owning a business is just not worth the hassle.
#5 As I have written about so many times before, the "global economy" is really bad for American workers. When we merged our economy with the economies of nations where it is legal to pay slave labor wages, we made it inevitable that we would start losing massive amounts of jobs.
#6 Unfair trade is absolutely killing our economy. It would be one thing if the U.S. was running a massive trade deficit solely because we were incompetent. But the truth is that a big factor is that a number of our "trade partners" are economic predators that are purposely trying to prey on us.
#7 Small businesses are traditionally one of the primary engines of job growth in this country. But right now, small businesses all over America are having a really hard time getting anyone to loan them money. A big reason for this is that the Federal Reserve is actually paying banks not to make loans. Unfortunately, if small businesses can't get the money that they need, then they can't hire people.
#8 A lot of people may not want to hear this, but businesses in the United States are being absolutely taxed into oblivion. The U.S. now has the highest corporate tax rate in the world, but that is only a very small part of the story.
#9 The national debt is like a giant albatross around the neck of the economy. The U.S. national debt has increased by more than 4 trillion dollars since Barack Obama took office. The rampant government spending that has been going on has not done much to create new jobs, but it will be a massive burden that will weigh down economic growth for many years to come.
#10 Right now America is very deeply divided and a tremendous sense of pessimism has set in. One recent survey found that 48 percent of Americans believe that it is likely that another great Depression will begin within the next 12 months. With such a negative feeling in the air, it is going to make it even less likely that business owners will be in the mood to hire people.
Saturday, August 27, 2011
Broken Banks = Broken United States Economic System = You
Many of you will look to my article from earlier this week entitled Gold!!! - Next stop $2,000 and think boy did he have it wrong after Gold fell back to $1,710. Well Gold finished above $1,825 today. What a wild swing. Do you think this is normal? No! Precious metals will continue to escalate, because our money is be devalued before our very eyes. The Powers that shouldn't Be can continue with these games, but the laws of nature are not going to allow this game to last forever. If one reverse engineers all that we have seen, one will realize that the markets are being fully manipulated at this point and there is no way out of this mess other than to prosecute these criminals who have fraudulently debased our currency and gutted our industry. I will stand on my record of the last 3 years. Nothing has changed, because the leaders of this nation have represent the Banks and Wall Street Executives not the other 99.9% of us.
The following videos are from Max Keiser and Nomi Prins. I have had several articles in which I have pointed towards the thoughts and presentations of information from Max Keiser, You can follow his articles at http://maxkeiser.com/. The second video sequence is an interview from Alex Jones's show of Nomi Prins who used to be a Managing Partner with Goldman Sachs. She has written a book detailing the practices of the banking cartel, which of course includes Goldman Sachs, entitled It Takes a Pillage. Her website is http://www.nomiprins.com/
There are rumors abound that Bank of America is now fully insolvent. The rumors state that JP Morgan-Chase is about ready to take over BoA. As many of you have seen Warren Buffet invested $5 billion in BoA this week. Warren Buffett is already heavily invested in Wells Fargo. His ivestment in BoA and subsequent statements are dead giveaways that something dire is happening behind the scenes. In studying economics for most of my life, I can tell you that the history of rescued failing corporations shows that Buffet saying that BoA's balance sheet is in good working order is the proverbial Kiss of Death.
Folks, if you are going to attempt to only get your news from the Presstitutes of the Lame Stream media, then there really isn't much that can be done for you. We are seeing a quickening of events. I think it is the result of the explosion of population that has happened over the last century plus. We are all exponential beings bouncing off of one another like kinetic atoms. What we all do affects not only the people we experience every day, but also the people that they experience.
Life is not wrapped up in a few words in an article in a newspaper or in 21 minutes of nightly news. Life is infinity. Why am I telling you this? Because when we allow people to do bad things and they infect the people around them, then it spreads like a contagion. This Ponzi economy contagion that we are all experiencing today is at the point of becoming a plague. It is way past the stage of being an epidemic. It has permeated every crack and crevice of our society. A fully wrecked economy is going to make life as we know it cease to exist. Life is going to be very tough, but doing nothing about what is going on today is going to mean the unnecessary struggle and ultimate death of many people who touch your life. These broken banks affect the viability of our government, our society, and ultimately each and every one of our lives.
The following videos are from Max Keiser and Nomi Prins. I have had several articles in which I have pointed towards the thoughts and presentations of information from Max Keiser, You can follow his articles at http://maxkeiser.com/. The second video sequence is an interview from Alex Jones's show of Nomi Prins who used to be a Managing Partner with Goldman Sachs. She has written a book detailing the practices of the banking cartel, which of course includes Goldman Sachs, entitled It Takes a Pillage. Her website is http://www.nomiprins.com/
There are rumors abound that Bank of America is now fully insolvent. The rumors state that JP Morgan-Chase is about ready to take over BoA. As many of you have seen Warren Buffet invested $5 billion in BoA this week. Warren Buffett is already heavily invested in Wells Fargo. His ivestment in BoA and subsequent statements are dead giveaways that something dire is happening behind the scenes. In studying economics for most of my life, I can tell you that the history of rescued failing corporations shows that Buffet saying that BoA's balance sheet is in good working order is the proverbial Kiss of Death.
Folks, if you are going to attempt to only get your news from the Presstitutes of the Lame Stream media, then there really isn't much that can be done for you. We are seeing a quickening of events. I think it is the result of the explosion of population that has happened over the last century plus. We are all exponential beings bouncing off of one another like kinetic atoms. What we all do affects not only the people we experience every day, but also the people that they experience.
Life is not wrapped up in a few words in an article in a newspaper or in 21 minutes of nightly news. Life is infinity. Why am I telling you this? Because when we allow people to do bad things and they infect the people around them, then it spreads like a contagion. This Ponzi economy contagion that we are all experiencing today is at the point of becoming a plague. It is way past the stage of being an epidemic. It has permeated every crack and crevice of our society. A fully wrecked economy is going to make life as we know it cease to exist. Life is going to be very tough, but doing nothing about what is going on today is going to mean the unnecessary struggle and ultimate death of many people who touch your life. These broken banks affect the viability of our government, our society, and ultimately each and every one of our lives.
Max Keiser & Alex Jones: 1 2 3 "Global Meltdown"
Journalist Nomi Prins: Blankfein Hires Criminal-Defense Lawyer to Save His Skin
Wednesday, August 24, 2011
Hal Row doesn't want us rocking Hickory's boat
Once again I listened to the Mayor this morning on Hal Row's First Talk program on WHKY. They spent most of the hour yucking it up about things such as yesterday's earthquake and last week's Harley Owner's Group rally. Nothing substantive was discussed and of course Hal threw every softball (more like T-ball) question up to Mayor Wright that one could think of. I am starting to wonder what the purpose of these radio appearances are.
I am not here to attack Hal, but I do believe that it is my right to offer constructive criticism of his program. Hal is a great host, if it is as the role of an emcee. That is the way I think Hal looks at his role. He definitely has a great talent as an orator behind the mic. But, my criticism is that his show could deliver so much more to the community and I have sent e-mails in the past to Hal stating this. The community deserves to hear all of the relevant sides of an issue, but Hal steadfastly refuses to bring any point-counterpoint issues to his show and all we get is the City Bureaucracy's side of the story. Is that fair?
Once again Hal brought up the $20 million game changer question. He asked if anyone had brought any ideas to the Mayor. The Mayor inferred that no one had and then went into a diatribe about bringing the retirees into the community and also stated that people had made fun of him about the $20 million idea and that the people in the city would come up with the money for the "RIGHT" idea.
I would like to make a couple of points. First of all, I spoke to the Mayor on that very program a few months ago about microlending and what did we see? He got very defensive about the issue and basically dismissed it outright. I think when the Mayor talks about the "Right Idea," what he is referring to is the "WRIGHT Idea." He wants something that he can take full credit for and if no one comes to him with anything he can point the finger and say, "See no one else has any ideas either." What it shows me is that the Mayor doesn't have any ideas and leaders are supposed to generate ideas through themselves or others.
The Mayor and the City Manager have proven time and time again that they are not team players. They want all of the credit for the good and none of the blame for the bad. It is like in football, the Quarterback and the Coach get the credit for the good and the blame for the bad. The great coaches and quarterbacks accept that and the ones that fail always look to deflect criticism and absolve themselves of mistakes. The greats admit fault, learn from mistakes, and apply themselves under that greater understanding in the future. I have never heard the City of Hickory admit fault or that they have made any mistakes about anything
Does anyone think that he has looked further into the issue of microlending and doing anything about it? Or bringing forward any public discussion about microlending possibilities or the pros and cons or making it possible for private capital to make funding of such an function possible?
At the end of Hal's show, he stated that no one was coming forward with ideas. He stated that the people who complain were just complainers who had nothing constructive to offer. On this issue, I will tell you that Hal was referring to this blog. Personally, I'm a little tired of the naivete offered up by the local media that never discusses the real issues that affect our area. Is that the role of the news media? To never complain or offer criticism and to only spout forth the City of Hickory or other local official's propaganda?
I have offered many solutions on this very blog about the direction this community can take. I will list some quotes that have been placed here over the years below:
An All-American City deserves first-class leadership (July 15, 2007) :
Hickory - Time to put the Puzzle together (August 17, 2009):
In our Future Economy Council Linked In Group. I wrote this just yesterday and it is related to issues that I have delved into on this blog (8/23/2011):
And here is a response to another:
The problem with Hickory is not a lack of ideas. The problem with Hickory is a lack of understanding about priorities, initiatives, and a sense of urgency. We don't have time for nonsense. Our city's problems will not be solved at Bojangles or the Snack Bar. Our problems will be solved when we quit playing little games and start engaging people who care and let them be part of the team and participate in working towards the long term viability of our local economy.
I am not here to attack Hal, but I do believe that it is my right to offer constructive criticism of his program. Hal is a great host, if it is as the role of an emcee. That is the way I think Hal looks at his role. He definitely has a great talent as an orator behind the mic. But, my criticism is that his show could deliver so much more to the community and I have sent e-mails in the past to Hal stating this. The community deserves to hear all of the relevant sides of an issue, but Hal steadfastly refuses to bring any point-counterpoint issues to his show and all we get is the City Bureaucracy's side of the story. Is that fair?
Once again Hal brought up the $20 million game changer question. He asked if anyone had brought any ideas to the Mayor. The Mayor inferred that no one had and then went into a diatribe about bringing the retirees into the community and also stated that people had made fun of him about the $20 million idea and that the people in the city would come up with the money for the "RIGHT" idea.
I would like to make a couple of points. First of all, I spoke to the Mayor on that very program a few months ago about microlending and what did we see? He got very defensive about the issue and basically dismissed it outright. I think when the Mayor talks about the "Right Idea," what he is referring to is the "WRIGHT Idea." He wants something that he can take full credit for and if no one comes to him with anything he can point the finger and say, "See no one else has any ideas either." What it shows me is that the Mayor doesn't have any ideas and leaders are supposed to generate ideas through themselves or others.
The Mayor and the City Manager have proven time and time again that they are not team players. They want all of the credit for the good and none of the blame for the bad. It is like in football, the Quarterback and the Coach get the credit for the good and the blame for the bad. The great coaches and quarterbacks accept that and the ones that fail always look to deflect criticism and absolve themselves of mistakes. The greats admit fault, learn from mistakes, and apply themselves under that greater understanding in the future. I have never heard the City of Hickory admit fault or that they have made any mistakes about anything
Does anyone think that he has looked further into the issue of microlending and doing anything about it? Or bringing forward any public discussion about microlending possibilities or the pros and cons or making it possible for private capital to make funding of such an function possible?
At the end of Hal's show, he stated that no one was coming forward with ideas. He stated that the people who complain were just complainers who had nothing constructive to offer. On this issue, I will tell you that Hal was referring to this blog. Personally, I'm a little tired of the naivete offered up by the local media that never discusses the real issues that affect our area. Is that the role of the news media? To never complain or offer criticism and to only spout forth the City of Hickory or other local official's propaganda?
I have offered many solutions on this very blog about the direction this community can take. I will list some quotes that have been placed here over the years below:
An All-American City deserves first-class leadership (July 15, 2007) :
We need to be inviting alternative fuel energy companies to take a look at the area. We are located at or near several major thoroughfares. We need to look at the biotech industry and how we could entice these companies to come here. We need to look to future technologies and how we could play a part in their development. We see Charlotte thriving, yet we are floundering. It's time to end the excuses and show some results.
Hickory - Time to put the Puzzle together (August 17, 2009):
Looking at Richard Florida’s philosophy got me to thinking about Hickory’s plight. Hickory must figure out a way to retain its best and brightest citizens, especially the twenty and thirty somethings. These are the generations that help a community constantly renew and revitalize itself. These are the people who have children and spend money on commodities that help a city to grow and prosper. The way to retain these people is to encourage industries that they will be more willing to participate in; High Tech industries such as robotics, energy, health care, engineering, and biomedical technology.
A key to creativity is understanding and accepting the needs and differences of individuals. In my opinion, many creative people don’t want to live in this area, because we make them feel uncomfortable or even unaccepted. We hear a lot about like-mindedness, but what about diversity? We need people coming at local issues from all angles, conforming to one way of thinking reeks of authoritarianism. Creativity never thrives under such conditions....
When it comes to building industry in our area, it’s not about College. It’s about knowledge. Do we have the types of Knowledge Industries available that will interest and retain the educated class? Are the people who grow up here and go away to college coming back after they obtain their degree? Are the young adults that we educate in our local Institutions of Higher Education staying here after they graduate? The key to prosperity is developing employment opportunities for the educated (and trained) at a living and sustainable wage. Our area’s wage growth proves that this is not happening. Without good jobs, we cannot have a prosperous and vibrant community. We cannot have the cultural amenities so many desire, because our tax base and marketplace will not support it....
What I believe we should study is the Commercial characteristics and Cultural Amenities of these cities and how they are addressing needs that are relevant to the 21st century. Every one of these cities is addressing their Public Transportation needs and I think that it is imperative that we also do just that. Our Public Transportation system is extremely inadequate for an area of our size. Population growth has been shown to be a key to a successful economy. If we move towards a structure that encourages growth, then we must develop a public transportation central nervous system to ensure that the growth is systematic and sustainable and doesn’t have a negative impact on our ability to travel to different destinations in the area.
Hickory sits at several important geographical and transportational crossroads and should be a vital central location for Western North Carolina. In my opinion that is what caused this city to develop in the first place. Why we lost the meaning and significance of this part of our city's Mission of Existence is beyond me....
Forbes ranks Hickory-Lenoir-Morganton as #147 area out of 150 when it comes to Culture and Leisure. This Index is based on museums, theaters, golf courses, sports teams, and other activities. I think the SALT Block is an excellent public cultural facility, we have the Crawdads and, and we have a ton of golf courses (and a golf tournament) around here. So by process of elimination, I believe that this tells us that we need to improve upon our entertainment business sector. There really isn’t much to do around here other than go to bars.
Developing an entertainment complex would go hand-in hand with our restaurant and retail business sectors and it would appeal to a younger demographic. I have heard the possibilities of a mid-sized concert venue being developed and I think a nice Amphitheater in the area would have a lot to offer. Just think of people around the region converging on Hickory and spending money in our stores. That seems like a lot better scenario than always having our citizens go to concerts in Charlotte, Asheville, Greensboro, or Greenville, SC and spend money there.
Many people believe me to be eternally pessimistic when it comes to my hometown. I honestly don’t believe that I am. Some don’t like the message and others don’t like the way I have delivered it. But, would they have listened if I had softballed it up to them. Empirical evidence points to the fact that they wouldn’t have. I think the issues that we have faced and continue to face are solvable. But, we need to quit wasting time and get on with solving these issues that have plagued this area for years.
In our Future Economy Council Linked In Group. I wrote this just yesterday and it is related to issues that I have delved into on this blog (8/23/2011):
It is all about Trends and I believe that is what Curtis in part is alluding to. I think that what we need to do is look to the local ingredients we have, such as craftsmanship, and tune those into what will be needed if and when the economy turns around. Look at the positioning Charlotte is doing related to energy.
I look at trends and energy is most definitely an issue. It always has been and always will be. You can look at food in much the same manner. The way that we currently source food is very inefficient. I really do believe that an industry that helps create self-sustainability of food items at home can be a good effort. Make it easy for people to grow salad and fruits at their homestead and become self-sufficient. Make it user friendly.
I also think there are ways to help people be more efficient in their energy usage when it comes to heating and cooling their houses. This along with hot water usage are the major costs of residential energy bills. I also like the ideas of residential water conservation and using run-off to our advantage through man made aquaducts, cisterns, and holding ponds. We can merge this with manufacturing of water purification systems that can service our areas and help other cities throughout the country.
I also think the sooner that we get involved in rail transportation systems, the better we are going to be positioning ourselves in the future.
And here is a response to another:
Energy, food, and water technology. Three issues that have always been important in the development of mankind. I also think home sustainability is an important issue and not being too dependent on the control grid. Industries that help people be self-sufficient are going to be very important as the economy worsens. If you can't grow a little food, you just might starve to death. People learned this the hard way back in the 1930s.As you can see above, I have put forward things that can be done. You can talk about these being generalities. What investment isn't a generality until action is taken to make it happen and then the shovels dig the ground and then construction is finished and the project is officially utilized. Look at the Northeast Wastewater Treatment Center. That is how the steps of progress took place. That is how projects work. That project was a dream and a general concept at one time, but soon it will be part of the fabric of our infrastructure.
The problem with Hickory is not a lack of ideas. The problem with Hickory is a lack of understanding about priorities, initiatives, and a sense of urgency. We don't have time for nonsense. Our city's problems will not be solved at Bojangles or the Snack Bar. Our problems will be solved when we quit playing little games and start engaging people who care and let them be part of the team and participate in working towards the long term viability of our local economy.
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