Inflation – The Most Unjust of Taxes

The Romans were masters of debasing currency, or coinage as it was back then

Clipped Roman Silver coins – Debasement alive and well long, long ago

Most people, myself included, have been slyly brought up to never think about inflation as a form of direct government taxation. But that is exactly what it is. Make no mistake about that.

You see long ago (in days of olde, when Knights were bold), it became clear that once you start taxing people above the forties rate, at about 45% and above people start to squeal. The Kings, monarchs, princes, and Dukes needed revenues to fund their maniac wars. It became clear that you just can’t keep notching up the rate of taxation – much to the botheration of the ruling classes, as they would just revolt – and that was pretty boring situation to deal with.

I didn’t take long for them to realise that all they had to do what debase the currency. A technical term for removing some of the money from the money itself. Technically it’s called stealing. If you tried this they would throw you in jail.

Back in the day a wedge would be cut out of the coins that were actually made of gold, silver and mixes thereof. If the lord of the manor needed more money he would just legally” debase the coin (currency of the day).

Back then it was bleedin’ obvious that someone had hacked a chunk out of the gold coin. The more sly rulers would actually replace the metals with others.

Today, however the control lords have reached the ultimate form of debasement Nirvana. This is why it cannot last. We are all totally blind to the debasement. There are two ways that are overlords manage this debasement:

  • Money Printing (so-called Quantitative Easing)
  • Fractional Reserve Banking

so to conclude – Inflation is used and manipulated by Government to it’s own ends for at least half a millennium and that is a hard drug to give up.

We no longer have a sound economic financial system – It has long been replaced by a dysfunctional Ponzi Scheme.

Make ready your plans.

© Copyright MMXIII RagingGoldenBull.com

No Way Out for the Federal Reserve

No Way out for the Federal Reserve

No Way out for the Federal Reserve

There is no way-out of here for the Federal Reserve now.

After so much talk of taper (“Taper-Talk”) the Fed finally didn’t follow-through. Why not? Because they cannot. That should be clear to anyone. There is not surprise here.

This is just talk. Schmoozing…Jive-talk…Rhetoric..Lies?

This is the clearest sign yet that Bernanke’s policies have failed. The rollback decision. He knows what’s coming and does not want to be around when it hits – and thus he is resigning (read – “get the hell out of Dodge!”) at end of year.

It is very, very, very simple to understand:

  • Interest rates MUST stay low
  • If not the amount of boring of US Government will bankrupt USA (it is already technically bankrupt)
  • So print money, buy bonds, keep rates low

There is a HUGE problem with this approach – They will either want to stop or be made to stop sometime:

  • They will be made to stop by other countries abandoning “incredible” US dollar (quite simply no longer sound money)
  • They will want to stop to try to restore credibility to the USD currency (not possible when printing 85 Billion USD per month – 1 Trillion USD per year)

When they stop (or the printing press is taken off them) the interest rates will rise.

The house of cards will fall.

© Copyright MMXIII RagingGoldenBull.com

Video – The Creature from Jekyll Island (G. Edward Griffin)

This is a must watch video. If you really want to know how we got here, in the financial mess that we are in today, then you need to watch this video and understand exactly how we got here.

The Federal Reserve System is the greatest scam of all history – Because it is NOT:

  • Federal
  • a Reserve (there are no Financial Reserves)
  • a System (it is New York based – with the illusion of National presence)

Mr Griffin sites seven reasons why the Federal Reserve System shoul be abolished:

  • It is incapable of acheiving it’s stated objectives
  • It is a Cartel – Operating against the public interest
  • It is the Supreme instrument of Usery
  • It generates our most unfair tax
  • It encourages war
  • It destabilises the economy
  • It is an instrument of Totaliterianism

It’s long weighing in at 105 minutes – but Mr Griffin is a master public speaker, a diligent researcher, and above all it is highly entertaining piece that everyone should hear.

And know this – You can watch/listen to this video much quicker than it took Mr Griffin the years of painstaking research, or ever to read his weighty tome as the same (which is a MUST read, btw ;-)).

Split it into two parts if you must, or more, but make sure you understand all that is in this great, great lecture.

A closing thougt from Mr Griffin:

Federal Reserve System does not need to be audited…  It needs to be abolished!

 

I hear you Mr Griffin!

Keep stackin’ – FPOW FarleyB

© Copyright MMXIII RagingGoldenBull.com

UBS to Pay Over $450 Million to Settle Libor Probe

UBS are getting hammered (as they should be):

“ZURICH–UBS AG (UBS) is close to a settlement with U.S. and U.K. authorities and is expected pay more than $450 million over claims that some of its employees reported false Libor rates to boost the bank’s profit, the New York Times reported Sunday, citing anonymous officials briefed on the matter.

If the Zurich-based bank agrees to the deals with various authorities, the collective penalties would yield the largest total fine to date related to the rate-rigging inquiry and would increase the likelihood that other financial institutions would face stiff penalties, it reported.

UBS wasn’t immediately available to comment on the report.

Authorities dealt their first blow in the rate-rigging case in June, when U.K. bank Barclays Plc (BARC.LN) agreed to a $450 million settlement.

U.S. officials are hoping to complete a deal with UBS by the middle of the month, according to officials briefed on the matter, the paper reported.”

see the full story:

http://www.nasdaq.com/article/ubs-to-pay-over-450-million-to-settle-libor-probe-20121203-00132

 
© Copyright MMXII RagingGoldenBull.com

Video — Paul Grignons What the Heck is a Bailout?

Paul Grignon has produced another informative and some ways entertaining video about the money system called What the Heck is a Bailout?. This is only 9 minutes long and well worth a watch to explain what these terms “bailout”, “debt” and “money printing” really mean.

Also checkout his Money as Debt site and other work and give him some support if you can – we all need to play our part to help straighten things out here…An impossible task I know…

© Copyright MMXII RagingGoldenBull.com