The concept of odious debt is not new. It has been around for nearly 100 years and was used by the USA to eliminate Iraq's debt before invasion. Ecuador created a committee to research the debts of that nation and they determined that 77% of the debt of that nation was odious debt. Odious debt is when a leader of a nation borrows money without consent of the people that are ultimately responsible for repaying the debt.
The criteria for odious debt requires three conditions:
1. Absence of Consent: The population must not have consented to the transaction in
question. This is so because it is unlikely that the law would forbid a person from
willingly entering into a contract that is detrimental to him or her.
2. Absence of Benefit: According to the applicable writings, there must be absence of
benefit to the population in two ways: (1) in the purpose of the transaction and (2)
in fact.
3. Creditor Awareness: This requirement stipulates that the creditor must be aware of
the absence of consent and benefit. There are several standards that may be
employed for measuring ‘awareness’, and luckily domestic law provides a
sufficiently broad definition of ‘awareness’ to capture those creditors that shut their
eyes to the obvious.
I believe all of the recent debts of the American regimes fit this bill to a T!
#1 When President Bush created the bailouts hundreds of thousands of Americans called their congressmen and told them to vote NO. Nancy Pelosi stated that she had received 85,000 calls against the bailouts and only 1 for them. She voted for them because “we didn't understand”. One congressman quipped that his calls were coming in about 50/50. 50% of the callers said NO and 50% said HELL NO! This makes it very easy to determine that the people responsible for repayment were against it. When elected leaders violate their oaths of office and ignore the wishes of those they represent, elected or not they have taken on the role of dictator. President Obama and President Bush before him have both taken on dictatorial powers and ignored the wishes of the American people and have incurred large amounts of odious debt.
#2 The money was handed over to those politically connected enough to have their hands in the pockets of the politicians. The people have received no benefit. As the government spent the 2.3 trillion dollars of stimulus money against the will of the people paying the bills. The people were losing their jobs, homes and life times worth of savings.
#3 The amount of money the American regimes have spent waging wars around the globe in violation of the congressional requirement that only congress can declare war. Huge numbers of Americans protesting the wars show that the people are not in support. Obama determined to send troops into Libya without even bothering to contact congress. Any reasonable lender should have been able to determine, before loaning funds, that the people were opposed. The fact that the people were opposed to “the bailouts” and “the stimulus” should have been known by the lenders as well.
The people of this country are being robbed plain and simple. By the bankers that are truly in control of the governments of the world. They are being aided by those we elected to represent us. We are being raped repeatedly by the bankers, and the government we created to secure our rights, holds our arms to force us to comply. How can debt placed upon the unborn be considered legitimate? It can not. The fact that the lenders are loaning money with the full knowledge that those that will be tapped for repayment can not have received benefit should make the fact these debts are odious quite obvious even to the non involved. This is theft.
An additional item should be considered. In order to have to have a contract and a debt both parties must have brought something of value to the table. At this time the federal reserve bank is printing money at whim out of thin air. It costs the federal reserve bank nothing to create the funds. The interest charge on the created funds is becoming one of the largest parts of the debt as is the case in many nations. So instead of serving the needs of the people paying, the needs of the bankers are being serviced.
“That the United States government, the U.S Federal Reserve, and a plethora of financial institutions, are in breach of numerous U.S. laws in regards to fraud and fiduciary duty to the American people, is held to be self-evident, by a growing minority of individuals around the world. That this breach of law and duty has resulted in the deterioration of the global marketplace, diminished opportunities for workers, and effected an acute decay in living standards for millions around the world, is without doubt.
Since the founding of the houses of Rothschild and Morgan in the 18th and 19th centuries respectively, banks and bankers have progressively adopted the role of financiers to governments, who find themselves placed in a position of obligation to their financiers. Laws and regulations are thus influenced more by the interests of bankers than by the public interest. This is the essential conflict that undermines the possibility of real democracy in our world. Its not a case of who can get the most votes – it’s a case of who’s got the most money.
These banking dynasties (and the people with the most money who control them) have spawned an entire sub-race of human beings who are characterized by a conviction of their superior intellect, and entitlement to act outside of the laws of society, reinforced by the governments who are obliged to aid and abet them as debtors. This has resulted in a situation whereby the entire global economic engine is in the control of these very rich and powerful dynasties, who now collude daily to manipulate markets to their own benefit, and at the expense of the rest of the world’s citizenry.” “The closest that media has ever come to exposing this criminal organization is in the film “Inside Job”, by Charles Ferguson. The film does an utterly fantastic job of baring the collusive relationships among government, bankers, and economists. But it fails to identify the very root cause, which are these financial dynasties acting in concert, populating governments with hand-picked puppets who do their bidding, often naively. “ James West www,Midasletter.com
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, “ Declaration of Independence
The government we created to secure our rights is aiding and abetting a criminal cartel of bankers that are enriching themselves by these schemes. We the people must step up and take back our country!
Thursday, September 22, 2011
Thursday, August 19, 2010
Our government has gone Gestapo.
A little while ago, some small farmers in California, minding their own business, were raided by men with drawn guns, ready to shoot. It’s not unusual—violence like this goes on every day. Men with guns are terrorizing small farms right now, and Oregonians rightfully demand an end to the wave of violence. Armed, roving criminals, perhaps, plundering the countryside? Drug gangs growing marijuana on their rival’s turf? No. It’s not criminal gangs battling each other, and it isn’t psychotic killers stalking peaceful family farms. It is the police. Farmers all over the USA are being raided for selling milk, meat, eggs and other healthful foods! Please check out this link: http://www.grist.org/article/food-five-tips-for-surviving-a-raid-on-your-farm-or-food-club/. Small children held at gunpoint while their parents are accused of… selling milk! This is the United States Department of Agriculture at work, protecting you. It’s for your own protection, of course.
Joel Saladin of Polyface Farms notes a few of the USDA’s “best practices” in his book, “Everything I Want To Do Is Illegal.” What are some of these best practices? They include the disgusting practice of feeding cows up to 50% chicken manure. Is it any wonder why organic farming is on the rise? I’ve raised cows and sold milk, and I want to keep my freedom to eat healthful food. Don’t you want the freedom to choose milk from cows not fed antibiotics, hormones and chicken manure? The right to choose what we eat is supported by such groups as the Oregon Consumer and Farmers Association http://www.oregonfarmrights.com/. This association has endorsed my candidacy.
We must stop government from protecting us to death. A wise man once said, “The best government is the one that charges me the least blackmail to be left alone.” There are several different bills before Congress that will change our access to fresh, locally grown food. We must work to stop the progress of these oppressive bills and allow farmers to grow what we want to eat. Please see the link http://www.oregonfarmrights.com/gpage.html for more information. Even more outrageous, there are more pending bills that would make all nutritional supplements and medicinal herbs require a doctor’s prescription!
Can we have an effect by letting our voices and votes be counted? The answer is YES! Check out http://www.anh-usa.org/latest-mccain-bill-update/. This prescriptions-for-vitamins bill appears to be stopped (for now). Are you aware that five times more Americans die from prescription drugs, taken as prescribed, than all illegal drugs and prescription drugs self-prescribed combined? How much less dangerous is food?
Who has the right to determine what you are allowed to eat? There appears to be a war on small farmers going on in our nation. How can we stand up and stop the harassment so people can eat what they think is most healthful? If my daughter, a 27-year-old adult, prefers Feverfew an herbal remedy that is more effective, has no side effects and is far less expensive than the Imitrex shots her doctor prescribed, who is harmed? Only the pharmaceutical companies and the politicians they own!
The real question is, WHO OWNS YOU? We have allowed government to become an overbearing monster from which we must get permission even to catch a fish. The goal of all government is to extend their size, scope and power, which is why our Constitution was written to limit the power of government to protect the rights of the people. As Joel Saladin says, "Governments, one and all, partake of the nature of rackets. They become partners in crime and ultimately annihilate the civilization over which they preside."Thomas Jefferson wrote in 1802: "If we can prevent the government from wasting the labors of the people under the pretense of taking care of them, they must become happy." The conflict is not the rich versus the poor, but between regular people and the politically connected or government class. The government elite are paid twice, on average, what we the average American earns. Check out www.usatoday.com/money/economy/income/2010-08-10-1Afedpay10_ST_N.htm.
Please, let’s retake control of our government and restore some common sense before it’s too late. Won’t you support me this November?
Delia
Delia@dlopezforcongress.com
503-954-4080
P.S. My campaign is entirely grassroots and funded by individual donations. We have had over 1100 different people donate to our campaign. Our average donation is $13 if each person donates just $10 that would make a huge difference in buying media time. My opponent has nearly 1 million dollars the vast majority from PAC's and Corporations.
Joel Saladin of Polyface Farms notes a few of the USDA’s “best practices” in his book, “Everything I Want To Do Is Illegal.” What are some of these best practices? They include the disgusting practice of feeding cows up to 50% chicken manure. Is it any wonder why organic farming is on the rise? I’ve raised cows and sold milk, and I want to keep my freedom to eat healthful food. Don’t you want the freedom to choose milk from cows not fed antibiotics, hormones and chicken manure? The right to choose what we eat is supported by such groups as the Oregon Consumer and Farmers Association http://www.oregonfarmrights.com/. This association has endorsed my candidacy.
We must stop government from protecting us to death. A wise man once said, “The best government is the one that charges me the least blackmail to be left alone.” There are several different bills before Congress that will change our access to fresh, locally grown food. We must work to stop the progress of these oppressive bills and allow farmers to grow what we want to eat. Please see the link http://www.oregonfarmrights.com/gpage.html for more information. Even more outrageous, there are more pending bills that would make all nutritional supplements and medicinal herbs require a doctor’s prescription!
Can we have an effect by letting our voices and votes be counted? The answer is YES! Check out http://www.anh-usa.org/latest-mccain-bill-update/. This prescriptions-for-vitamins bill appears to be stopped (for now). Are you aware that five times more Americans die from prescription drugs, taken as prescribed, than all illegal drugs and prescription drugs self-prescribed combined? How much less dangerous is food?
Who has the right to determine what you are allowed to eat? There appears to be a war on small farmers going on in our nation. How can we stand up and stop the harassment so people can eat what they think is most healthful? If my daughter, a 27-year-old adult, prefers Feverfew an herbal remedy that is more effective, has no side effects and is far less expensive than the Imitrex shots her doctor prescribed, who is harmed? Only the pharmaceutical companies and the politicians they own!
The real question is, WHO OWNS YOU? We have allowed government to become an overbearing monster from which we must get permission even to catch a fish. The goal of all government is to extend their size, scope and power, which is why our Constitution was written to limit the power of government to protect the rights of the people. As Joel Saladin says, "Governments, one and all, partake of the nature of rackets. They become partners in crime and ultimately annihilate the civilization over which they preside."Thomas Jefferson wrote in 1802: "If we can prevent the government from wasting the labors of the people under the pretense of taking care of them, they must become happy." The conflict is not the rich versus the poor, but between regular people and the politically connected or government class. The government elite are paid twice, on average, what we the average American earns. Check out www.usatoday.com/money/economy/income/2010-08-10-1Afedpay10_ST_N.htm.
Please, let’s retake control of our government and restore some common sense before it’s too late. Won’t you support me this November?
Delia
Delia@dlopezforcongress.com
503-954-4080
P.S. My campaign is entirely grassroots and funded by individual donations. We have had over 1100 different people donate to our campaign. Our average donation is $13 if each person donates just $10 that would make a huge difference in buying media time. My opponent has nearly 1 million dollars the vast majority from PAC's and Corporations.
Tuesday, August 3, 2010
Downsize DC blog post
I want to bring attention to a group that is working to reduce the size, scope, and power of government to restore freedom and prosperity to our nation. Check out http://www.downsizedc.org. They are supporting six bills, any one of which would be a giant leap in the right direction. If we could manage to get all six passed, it would be a great victory and cause to celebrate. I will help buy the beer! I swear, if elected to congress I will co-sponsor every one of them. I will work hard to get each one passed: the Read the Bills Act, One Subject at a Time Act, Write the Laws Act, Free Competition in Currency Act, Enumerated Powers Act, and the Fiscal Responsibility Act. Such common-sense bills must be passed, and we must work to get those elected who will do so. It is for our children and grandchildren. Our founding fathers pledged their lives, property, and sacred honor to give us freedom. Can we do any less for our children?
Thursday, July 8, 2010
Tomato Bubble!
I did not write this not sure who did, great job.
Ever wonder about why our economy is in trouble? How can so many people can be in so much debt at the same time? Does it seem strange to you no matter how hard one works, and in spite of all the advances in society, most hard working people cannot escape the treadmill of perpetual debt?
Why are so many families losing their homes to foreclosure? Why are many households dependent upon credit cards to supplement their income? Why does it take TWO spouses to maintain a household when it used to take just one? Why have so many retirement savings been wiped out? Why do prices always creep up?
Did you know that roughly 1/4 of all income taxes are consumed to pay interest on the Federal Debt? (National Debt currently 12 TRILLION DOLLARS , or about $100,000 per household.) Think about it. Every penny that you pay in income tax from January-April is consumed to pay interest! (*2009 Income Tax revenues: $1.2 Trillion / Interest owed on Debt: $350 Billion) And let's not even talk about the Government's unfunded future liabilities, estimated at 70 TRILLION. (an additional $600,000+ per household.)
Add those staggering sums to your mortgage debt, car loan debt, student loan debt, credit card debt, State debt, County debt, City/Town debt, small business debt, big business debt, and you will see that the total of these debts actually exceeds (BY FAR) the amount of money supply in circulation.
So, how can such astronomical debt ever be repaid? Well, if you haven't figured it out yet - IT CAN'T. The only way to service just the interest on these monstrous debts is to constantly take on new debts.
Finally, on top of all your Federal, State, gasoline, and local taxes, (30% - 40% of your gross income) and on top of your personal debt service burden (another 25%-50%), there's this thing called "inflation", or "the cost of living." What exactly is "the cost of living?" What causes it? Why does a dollar buy less and less each year while wages stay flat?
Is the stress of perpetual debt and rising prices keeping you up at night? How many strokes, heart attacks, and even suicides are induced by financial stress each year? Money and debt may even have led to your drinking problem, or perhaps even to depression. Debt may have been the underlying cause of your divorce or that of some couple that you know.
You know in your gut that something isn't right in this country. But you don't have the "Economics education" to figure it out. It all seems too complicated for you to put your finger on, so you just keep slaving away to pay interest and taxes as your dollar buys less and less. All you can do is keep working like a dog and leave the matter to the Wall Street "experts" and politicians to handle for you.
But it's all quite simple really. So simple in fact, even a dummy can understand it when it is broken down to basic elements.
So then, how exactly did you all become such debt/tax/inflation slaves? Well, I'll let you in on my little secret. You will be amazed at how easy it is to understand.
My name is Mortimer M. Moneybags III and this is the true story of how I bankrupted and enslaved my hometown of Tomatoville, USA:
THE SETUP
One night, Bill, Frank, John, and Mike came over to my place for a friendly game of poker. My four neighbors are all prosperous tomato farmers. Tomatoes actually serve as the currency of Tomatoville, USA.
Before starting, the five of us agree to each put up 10 tomatoes as our "risk capital." That's a total of 50 tomatoes. (Gross Domestic Product - GDP)
Play begins and we realize that trading tomatoes during our bets is awkward. I suggest that we utilize paper notes to represent our tomatoes instead. Because I hold a degree from Harvard, all agree that I should act as "Central Banker".
We place our tomatoes in the center of the table and I print 50 paper notes with the face of Tomatoville's founder on them (corresponding to the 50 total tomatoes, 10 notes for each player). Each paper note therefore represents 1 tomato....simple. (sound money/hard money/gold standard)
As play resumes, I have an unseen advantage over my guests. At 30 minute intervals, I repeatedly excuse myself for a "bathroom break." (Fed Meetings) During this time, I'm actually sneaking into my bedroom and printing up more 1 tomato notes (fiat money).
Upon returning, I gradually gamble and inject ever increasing amounts of notes (liquidity)into the game (the economy). By midnight, the original 50 notes has increased to 500 total notes.
After ebbs and flows, the game was remarkably even at midnight. The five of us, who had each started out with 10 notes apiece, now held 100 notes apiece. But the same 50 tomatoes -the true intrinsic value of the game - (GDP) remain in the jackpot.
Because we are getting so "rich" from the game, I propose that instead of ending the game, we leave everything as is and resume play the following month.
"Why don't you fellows spend some of your Tomato Notes, and save some to invest in next month's play. Tell the shopkeepers that each Tomato Note represents one tomato that is still sitting on this table. They'll accept the Notes as if they were actual tomatoes."
"Great idea Mortimer! The paper is so much more convenient to trade than the tomatoes." replied Mike.
All agree to suspend play and resume next month. Before they leave, I announce that I'm cashing in 20 of my 100 notes in order to make tomato sauce the following day.
At the original ratio of 1 note to 1 tomato, my 20 notes trade for 20 tomatoes. I have doubled my original "investment" of 10 tomatoes (profit taking), and still have 80 paper notes with which to resume the game next month. There are now only 30 total tomatoes remaining on the table.
As I expected, my friends have no intention of cashing in any of their "winnings" because the returns from the game are so high. They each hold 100 notes and really believe that their original 10 tomatoes have yielded a 10 to 1 return from playing the game (Bull Market, irrational exuberance).
When the players explain to the town merchants that the Tomato Notes represent actual tomatoes that are stored at my house, the merchants gladly accept the notes as if they were actual tomatoes. During the ensuing month, the players spend many of their notes and take out various loans as well.
Bill buys his wife a new sports car by putting down 25 Tomato Notes and taking a loan for the balance. (Detroit prospers.)
Frank takes out a small business loan to open up that restaurant he's always dreamed about(job creation).
John puts down a 50 Note down payment and signs a contract for a new home mortgage (housing boom).
Mike spends 40 of his Tomato Notes and also goes on a credit card shopping spree (consumer confidence).
The local bank manager also trusts that the Tomato Note income of the borrowers represents true wealth, so he honestly believes that he is not engaged in risky lending when he lends out his depositors tomatoes to the successful poker winners. (Sub Prime mortgages, No Money Down Mortgages)
The bank then sells some of the loan notes to The Tomato Street investment houses. Blinded by greed, and ignorant of "the big picture", Tomato Street portfolio managers believe that the debts are solid investments for their clients. (secondary market ,mortgage backed securities)
So not only do the four players believe that they are prospering, but the businessmen that are now selling more goods to the wealthy poker players believe that they are earning more Tomatoes also! They too increase their personal spending and borrowing accordingly. (multiplier effect)
Me? I just rub my hands in glee and laugh at how foolish these people are.
The economy of Tomatoville is BOOMING......or so it seems.
THE STING
The Poker players and I meet again at my place and pick up where we left off the month before. After a few hours of more silent note injection, 1000 notes now circulate evenly among the players (200 each). My guests boast among themselves about all the new toys they have recently charged. They aren't worried about the debts they are incurring because, if necessary, they can always cash in their abundant paper notes for tomatos (equity) and pay everything off free and clear.
After a few more hours of play, I decide to trade in 20 more paper notes for 20 more tomatoes (insider trading). My friends ridicule me. "Mortimer! Why would you trade in notes for tomatoes when we are all making so much money?" they ask.
"I just want to lock in some of my winnings now. You never know if fortunes may turn." I replied.
I have now "earned" a total of 40 of the original 50 tomatoes from the table, quadrupling my initial investment. Whereas my scam was not obvious before, my victims now clearly see that the true value of the tomato jackpot has diminished (recession, Bear Market). They each started with 10 tomatoes. So how come they hold hundreds of notes when there are only 10 tomatoes left for the four of them to divide?
Bill panics. "I'm trading in!" he declares. He dumps all 200 of his notes and attempts to grab the remaining 10 tomatoes (stock market crash, bank run)."
Not so fast Bill!" declares Frank. "If you get those remaining tomatoes there will be none left for us!"
"Oh my God! Mortimer! What's happened here?" Mike asks.
My expression turns somber as I reply:
"Damn! I was afraid this might happen. Because we were doing so well, the game "overheated". The Tomato Note fell against the tomato. When that happens, the cost of playing goes up (inflation) and then a contraction occurs (recession). It's a natural cycle."
"So how do we allocate the remaining tomatoes?" John asks.
"Simple." I replied. "It's called currency devaluation. You four each have 200 notes in hand, and I have 160. That's a total of 960 notes in circulation (money supply). There are 10 tomatoes remaining. Divide the 960 notes by the remaining 10 tomatoes and the new cost of a tomato is therefore 96 notes (hyper-inflation). That means that your 200 notes can buy back 2 of the remaining 10 tomatoes for each of you."
The paper Tomato Note currency has lost its purchasing power (inflation, bubble bursting) and my 4 neighbors have each lost 8 of the original 10 tomatoes they had once owned. I walk away with 42 of the original 50 tomatoes. (real wealth)
***AUTHOR'S NOTE***
If the players had added 950 tomatoes to the original 50 (GDP growth), there could be no bubble and the Tomato Note would have retained its 1-1 value. (1000 notes / 1000 tomatoes) In any monetary system, increased production serves to make a currency stronger. But Mortimer could still have debased the currency by printing up even more notes and then being the first one to "cash out." In bubble economics the first sellers to get out of the game (stock market, real estate market etc), will profit unfairly by receiving inflated "fake" value for their stocks, homes, currency etc. When the game then adjusts to the burst bubble value, the remaining sellers get less. (Examples: Investors who sold their stocks when the Dow Jones was at 14,000. Homeowners who sold in 2006 at the peak of the real estate bubble. Investors who in 2007 exchanged US dollars for gold or other hard commodities.)
An honest money system keeps the growth of money supply proportionate to the growth of goods and services (GDP) for a 1-1 ratio. (no inflation / no deflation) But when money is printed "out of thin air" (as opposed to gold or silver which have intrinsic value due to rarity and beauty ) Mortimer is always ahead of the players, especially when he starts lending notes to the Mayor and local bank, at interest. When that happens, all of Tomatoville becomes Mortimer's poker game.
But the real problem is that the four suckers, believing they were "wealthy", had charged up a lifestyle that they can no longer sustain.
That car Bill bought for his wife? Can you say "Repo Man?"
Franks new restaurant? The chefs and some waiters will have to be laid off (increased unemployment).
Mike's credit card bills? Soon to be delinquent and destroying his credit rating. (credit crunch, local Bank losses)
John's new home? Foreclosure, followed by divorce (housing slump).
The merchants who had sold or loaned to them will also be negatively affected. Anyone who had dealings with the free spending Poker players is also holding devalued notes and possibly carrying bad debts. The artificial debt & inflation prosperity had spread like viruses, and now the malinvestment balloon has to painfully deflate.
The bewildered and frightened town folk don't understand how this happened. Because of my Ivy League credentials, coupled with the fact that I have accumulated so much wealth, they look to me for expert advice and answers.
I explain to them that we are in a liquidity crisis:
"Friends! This is part of the natural business cycle. Sure, you have suffered a short term loss, but in the long term we all come out OK as the markets recover. You saw how much wealth you had earned. If you get out of the game you'll be locking in your losses."
"The market has hit bottom. Truth be told, you guys helped create this mess yourselves with your reckless consumer borrowing, and the local bank should have known better than to lend its depositors tomatoes out so carelessly. (blaming the symptoms, instead of the cause) This is the problem with free market capitalism sometimes."
"I will advise Mayor Bulshitz to institute new legislation, a huge stimulus package, and more regulation over private enterprise (New Deal). We shall create a social safety net in order to protect you from future naturally occurring business cycles." (Great Society, War on Poverty)
"Greedy CEO's, town's shopkeepers, and your employers created this mess and it must never happen again. (class warfare) We will impose strict price controls to fight the inflation that the greedy , price-gouging shopkeepers caused."
"We will tax the rich! (Federal Income Tax, established in 1913) Free health care! Free education! (socialism) Liberty! Equality! Fraternity! Change we can believe in! Hope! Yes we can! Workers unite! You have nothing to lose but the chains which bind you!"
"Don't worry about the town's Constitution. It's an outdated document written by a bunch of dead white guys. If we are to fix this mess, then we must ignore its limitations on progressive government action."
***AUTHOR'S NOTE***
To feed the insatiable debt monster, and to maintain confidence in his notes, Mortimer must have a perpetually growing GDP (more tomatoes). If not, runaway debt and inflation will cause the economy to implode sooner, rather than later. GDP growth is fueled by "consumer spending"(consumption) and the constant borrowing which enables it. This is why economists, politicians, and other assorted lunatics are so obsessed with constant GDP growth.
.
.
"The tomato must no longer serve as the backing for our currency. To meet the liquidity needs of our new system, it is imperative that we get this town off of that antiquated, "barbaric fruit" Standard (hard money) and transition to my expertly managed paper currency." (fiat money)
"As far as the poker markets go, now is the time to play even more aggressively (buy low). We'll meet again next month. In the meantime, work harder and bring more tomatoes to the next game, I'll print more notes to increase liquidity and induce the banks to loosen up credit once again. (pump priming)
"If the local banks need to make more loans, I'll lower their reserve requirements so that they can lend (create) money that they don't have. As long as too many depositors don't make withdrawals all at the same time, like you fellows did in our poker game, they'll be none the wiser." (fractional reserve banking)
Even if there is a bank run, or if the bank's loan demand exceeds it's reserve requirement, I'll act as the "lender of last resort" (Federal Reserve, established in 1913) and lend (create money for) to the local bank at interest (Bank takeover, Discount Window).
I will also lend to (create money for) the Mayor's office (Open Market Operations, purchase of T-Bills, stimulus) , and bail out (create money for) the Tomato Street Brokerage houses that I deem to be "too big to fail" (Goldman Sachs, JP Morgan bailout package).
I continue: "Finally, I will organize an emergency meeting of the Mayors, Finance Ministers, and Note Printers of the European towns (G-20, "world stage"). Now is not the time for isolationism. (independence, sovereignty) Global problems demand global solutions! (IMF, World Bank, WTO, UN)."
"We will recover. So keep spending, secure in the knowledge that the best and the brightest of the world community are on the job. We have nothing to fear but fear itself!"
.***AUTHOR'S NOTE***
The "business cycle" is very simple. When the rate of growth in money supply (debt supply) exceeds the rate of growth in the general economy (GDP), the excess "money" has to go somewhere. It creates an illusion of prosperity. Artificial bubbles will form either in housing, stocks, currency, etc. Eventually the market always corrects for these phony excesses and the bubbles burst. (just like the poker game.)
THE WRAPUP
The men leave my place full of hope, grateful that a financial "expert" and a caring leader are in charge of the recovery plan. Incredibly, I have convinced them that it was free enterprise, tomato currency, and limited government (the three main pillars of their original prosperity), that caused their problems.
Instead of seeing my inflationary system, my perpetual interest demands, and the Mayor's out-of-control spending and high taxes as the causes of their lower standard of living, they actually worship Mayor Bulshitz as a savior. Bulshitz gives them all the socialistic "free" goodies that our destructive schemes made unaffordable for them in the first place.
First we crush the owners and the workers of the private economy. Then, Bulshitz rides in like a knight on a white horse, offering welfare schemes to save them.
The simple townfolk never stop to think that were it not for us, they would have the income and capital to take care of themselves!
When Bulshitz runs short of money (as he always does), I'm there to lend it to his office...at interest of course.
Damn I love this job! .
My European colleagues and forefathers have been running this scam for centuries. During this past century, we've been working to diversify our operations to include control of the world's natural resources. Whenever some independent-minded foreign mayor resists our game of Banking & Resource Monopoly, (Iraq, Russia, Venezuela, Iran), our friendly mayors (the "free world") will team up to bring that town back in line (sanctions,UN resolutions, spreading democracy,CIA coups,wars). Perhaps one day we may even merge our operations under a single global umbrella? (New World Order, G-20, Global New Deal, Global Warming scare)
I also play golf with the owners and publishers of the local "liberal" newspaper as well as with those from the "conservative" media. Through my close friendship with them, I am able to influence the editorial and news content of both. It's sort of a "good ole boys" networking thing. As long as they don't expose my operation, I am happy to allow the two parties and their sheeplike followers to amuse themselves with the daily drama of those superficial popularity contests known as "political campaigns." By having the "left" and the "right" beat each other up, the townfolk are kept divided and diverted from my actions. In the end, it is I who wins EVERY election.
My "philanthropic endowments" to Tomatoville University guarantee that my twisted version of economics is taught to the students. Awestruck by my immense wealth and prestige, most, but not all ("Austrian School"), of the economists at "TU" are eating out of my hands. So, when the town folk read The Tomato Street Journal, or hear Professor Pointyhead speak on TV, my false theories are reinforced in their minds.(Keynesian Theory, "Chicago School")
All, except for John - the critical thinker of T-ville. He figures it all out and embarks upon a one man Internet crusade to expose me, calling me a "counterfeiter", "usurer", "insider trader", "warmonger", and "The Shadow Mayor."
My fellow Country Club members from the media convince everyone that John is "paranoid", and an "extremist" who is a mentally unstable "conspiracy theorist" and potential "domestic terrorist." Most of the town folks defend my intellect and character, and disassociate themselves from John. The others are too burned out by the hustle of life to even make the time to study politics and economics. Eventually, John is denied access to The Tomato Street Journal and throws his hands up in frustration.
Tomatoville is deeply in debt in to me because the massive police force and the "safety net" programs (that my destructive monetary schemes necessitated) are very expensive! I've got so much dirt on Mayor Bulshitz, that if he dares to either reintroduce the tomato standard, or if he decides to print interest free currency proportionate to the amount of real goods and services in the town, my newspaper friends and slick TNN anchormen can ruin him.
***AUTHOR'S NOTE***
A typical example of the incestuous old boy's network that exists between the Wall Street, Washington DC, Central Banking, and corporate media elite, is the case of international banker, Eugene Meyer.
WALL STREET: Meyer got his start as an investment banker with the firm of Lazard-Freres. He became a wealthy speculator and earned a seat on the New York Stock Exchange. WASHINGTON: Meyer served as head of the War Finance Corporation under President Woodrow Wilson during World War I. CENTRAL BANKING: President Hoover later named Meyer as Chairman of the Federal Reserve in 1930, which he chaired until 1933. After World War II, President Truman appointed him to head the World Bank. MEDIA:Meyer bought the Washington Post in 1933 (Arguably America's most influential newspaper). The Post also owns Newsweek.
Upon Meyer's death, control of The Post passed to his daughter, Katherine Meyer Graham. Today, The Post is run by Katherine's son, Donald Graham.
Below: "All in the family." The Meyer-Grahams 100 year old influence includes the White House, the FED, The World Bank, The Washington Post, and Newsweek Magazine.
But Mayor Bulshitz, as well as his rivals from the other Party, are all very easy to get along with. Most politicians are just ambitious liars who only care about getting re-elected. My printer helps cover the huge budget deficits generated by their vote-buying welfare schemes and their endless foreign wars. One hand washes the other. It doesn't serve the insatiable ambitions of the local politicians to alienate a well connected "bi-partisan" donor like me.
Every few years, for public show, Mayor Bulshitz gets to nominate a printing "Chairman" from my list of preferred professors. Because of this "dog and pony show", most readers of The Tomato Street Journal believe that the central banking operation is regulated by the Mayor's office. It's not.
In reality, it is a private cartel, owned and operated by my banking associates and me. It is only our cartel that gets to print (or E-mail) the actual money supply, and then inject it at will into the government treasury (FED purchase of T-bills) and banking systems (FED loans to member banks, lower reserve requirements), as we see fit.
Because debt is the actual currency, you can never stay out of debt. The total of all debt and interest owed always exceeds the total money supply.
So you see, this debt based currency system is actually nothing but a massive pyramid scheme. We international banking and media kingpins sit on the top. Our wholly owned politicians, professors, & reporters sit on the levels below. While you worker bees are stuck on the bottom levels - toiling away to perpetually support the crushing weight of our fraudulent structure.
It's like a game of musical chairs, where the number of players always exceeds the amount of chairs. I start and stop the music at my pleasure as you exhaust yourselves running around in circles for my amusement. I stimulate the "booms" (blowing bubbles), and the "busts" (letting some air out), profiting from both.
Now you know the secrets of my success and power. You're probably wondering why I would reveal the truth and indict myself like this. Right?
It's simple. It's because I do not respect you. I know that no matter how badly I screw you, no matter how much I steal from your kids' mouths...you won't do a damn thing about it.
It would never even cross your mind to take the personal initiative to spread this story around to your friends and family. If everyone who read my confession passed it on to 10 others, my game would be up in no time. But I know you won't do that. As long as there is a ballgame or TV show to entertain you, as long as you have a few beers in your refrigerator, I can do or say whatever I want...forever.
Poker at my house, everybody! Who's in?
Mortimer M. Moneybags III
Ever wonder about why our economy is in trouble? How can so many people can be in so much debt at the same time? Does it seem strange to you no matter how hard one works, and in spite of all the advances in society, most hard working people cannot escape the treadmill of perpetual debt?
Why are so many families losing their homes to foreclosure? Why are many households dependent upon credit cards to supplement their income? Why does it take TWO spouses to maintain a household when it used to take just one? Why have so many retirement savings been wiped out? Why do prices always creep up?
Did you know that roughly 1/4 of all income taxes are consumed to pay interest on the Federal Debt? (National Debt currently 12 TRILLION DOLLARS , or about $100,000 per household.) Think about it. Every penny that you pay in income tax from January-April is consumed to pay interest! (*2009 Income Tax revenues: $1.2 Trillion / Interest owed on Debt: $350 Billion) And let's not even talk about the Government's unfunded future liabilities, estimated at 70 TRILLION. (an additional $600,000+ per household.)
Add those staggering sums to your mortgage debt, car loan debt, student loan debt, credit card debt, State debt, County debt, City/Town debt, small business debt, big business debt, and you will see that the total of these debts actually exceeds (BY FAR) the amount of money supply in circulation.
So, how can such astronomical debt ever be repaid? Well, if you haven't figured it out yet - IT CAN'T. The only way to service just the interest on these monstrous debts is to constantly take on new debts.
Finally, on top of all your Federal, State, gasoline, and local taxes, (30% - 40% of your gross income) and on top of your personal debt service burden (another 25%-50%), there's this thing called "inflation", or "the cost of living." What exactly is "the cost of living?" What causes it? Why does a dollar buy less and less each year while wages stay flat?
Is the stress of perpetual debt and rising prices keeping you up at night? How many strokes, heart attacks, and even suicides are induced by financial stress each year? Money and debt may even have led to your drinking problem, or perhaps even to depression. Debt may have been the underlying cause of your divorce or that of some couple that you know.
You know in your gut that something isn't right in this country. But you don't have the "Economics education" to figure it out. It all seems too complicated for you to put your finger on, so you just keep slaving away to pay interest and taxes as your dollar buys less and less. All you can do is keep working like a dog and leave the matter to the Wall Street "experts" and politicians to handle for you.
But it's all quite simple really. So simple in fact, even a dummy can understand it when it is broken down to basic elements.
So then, how exactly did you all become such debt/tax/inflation slaves? Well, I'll let you in on my little secret. You will be amazed at how easy it is to understand.
My name is Mortimer M. Moneybags III and this is the true story of how I bankrupted and enslaved my hometown of Tomatoville, USA:
THE SETUP
One night, Bill, Frank, John, and Mike came over to my place for a friendly game of poker. My four neighbors are all prosperous tomato farmers. Tomatoes actually serve as the currency of Tomatoville, USA.
Before starting, the five of us agree to each put up 10 tomatoes as our "risk capital." That's a total of 50 tomatoes. (Gross Domestic Product - GDP)
Play begins and we realize that trading tomatoes during our bets is awkward. I suggest that we utilize paper notes to represent our tomatoes instead. Because I hold a degree from Harvard, all agree that I should act as "Central Banker".
We place our tomatoes in the center of the table and I print 50 paper notes with the face of Tomatoville's founder on them (corresponding to the 50 total tomatoes, 10 notes for each player). Each paper note therefore represents 1 tomato....simple. (sound money/hard money/gold standard)
As play resumes, I have an unseen advantage over my guests. At 30 minute intervals, I repeatedly excuse myself for a "bathroom break." (Fed Meetings) During this time, I'm actually sneaking into my bedroom and printing up more 1 tomato notes (fiat money).
Upon returning, I gradually gamble and inject ever increasing amounts of notes (liquidity)into the game (the economy). By midnight, the original 50 notes has increased to 500 total notes.
After ebbs and flows, the game was remarkably even at midnight. The five of us, who had each started out with 10 notes apiece, now held 100 notes apiece. But the same 50 tomatoes -the true intrinsic value of the game - (GDP) remain in the jackpot.
Because we are getting so "rich" from the game, I propose that instead of ending the game, we leave everything as is and resume play the following month.
"Why don't you fellows spend some of your Tomato Notes, and save some to invest in next month's play. Tell the shopkeepers that each Tomato Note represents one tomato that is still sitting on this table. They'll accept the Notes as if they were actual tomatoes."
"Great idea Mortimer! The paper is so much more convenient to trade than the tomatoes." replied Mike.
All agree to suspend play and resume next month. Before they leave, I announce that I'm cashing in 20 of my 100 notes in order to make tomato sauce the following day.
At the original ratio of 1 note to 1 tomato, my 20 notes trade for 20 tomatoes. I have doubled my original "investment" of 10 tomatoes (profit taking), and still have 80 paper notes with which to resume the game next month. There are now only 30 total tomatoes remaining on the table.
As I expected, my friends have no intention of cashing in any of their "winnings" because the returns from the game are so high. They each hold 100 notes and really believe that their original 10 tomatoes have yielded a 10 to 1 return from playing the game (Bull Market, irrational exuberance).
When the players explain to the town merchants that the Tomato Notes represent actual tomatoes that are stored at my house, the merchants gladly accept the notes as if they were actual tomatoes. During the ensuing month, the players spend many of their notes and take out various loans as well.
Bill buys his wife a new sports car by putting down 25 Tomato Notes and taking a loan for the balance. (Detroit prospers.)
Frank takes out a small business loan to open up that restaurant he's always dreamed about(job creation).
John puts down a 50 Note down payment and signs a contract for a new home mortgage (housing boom).
Mike spends 40 of his Tomato Notes and also goes on a credit card shopping spree (consumer confidence).
The local bank manager also trusts that the Tomato Note income of the borrowers represents true wealth, so he honestly believes that he is not engaged in risky lending when he lends out his depositors tomatoes to the successful poker winners. (Sub Prime mortgages, No Money Down Mortgages)
The bank then sells some of the loan notes to The Tomato Street investment houses. Blinded by greed, and ignorant of "the big picture", Tomato Street portfolio managers believe that the debts are solid investments for their clients. (secondary market ,mortgage backed securities)
So not only do the four players believe that they are prospering, but the businessmen that are now selling more goods to the wealthy poker players believe that they are earning more Tomatoes also! They too increase their personal spending and borrowing accordingly. (multiplier effect)
Me? I just rub my hands in glee and laugh at how foolish these people are.
The economy of Tomatoville is BOOMING......or so it seems.
THE STING
The Poker players and I meet again at my place and pick up where we left off the month before. After a few hours of more silent note injection, 1000 notes now circulate evenly among the players (200 each). My guests boast among themselves about all the new toys they have recently charged. They aren't worried about the debts they are incurring because, if necessary, they can always cash in their abundant paper notes for tomatos (equity) and pay everything off free and clear.
After a few more hours of play, I decide to trade in 20 more paper notes for 20 more tomatoes (insider trading). My friends ridicule me. "Mortimer! Why would you trade in notes for tomatoes when we are all making so much money?" they ask.
"I just want to lock in some of my winnings now. You never know if fortunes may turn." I replied.
I have now "earned" a total of 40 of the original 50 tomatoes from the table, quadrupling my initial investment. Whereas my scam was not obvious before, my victims now clearly see that the true value of the tomato jackpot has diminished (recession, Bear Market). They each started with 10 tomatoes. So how come they hold hundreds of notes when there are only 10 tomatoes left for the four of them to divide?
Bill panics. "I'm trading in!" he declares. He dumps all 200 of his notes and attempts to grab the remaining 10 tomatoes (stock market crash, bank run)."
Not so fast Bill!" declares Frank. "If you get those remaining tomatoes there will be none left for us!"
"Oh my God! Mortimer! What's happened here?" Mike asks.
My expression turns somber as I reply:
"Damn! I was afraid this might happen. Because we were doing so well, the game "overheated". The Tomato Note fell against the tomato. When that happens, the cost of playing goes up (inflation) and then a contraction occurs (recession). It's a natural cycle."
"So how do we allocate the remaining tomatoes?" John asks.
"Simple." I replied. "It's called currency devaluation. You four each have 200 notes in hand, and I have 160. That's a total of 960 notes in circulation (money supply). There are 10 tomatoes remaining. Divide the 960 notes by the remaining 10 tomatoes and the new cost of a tomato is therefore 96 notes (hyper-inflation). That means that your 200 notes can buy back 2 of the remaining 10 tomatoes for each of you."
The paper Tomato Note currency has lost its purchasing power (inflation, bubble bursting) and my 4 neighbors have each lost 8 of the original 10 tomatoes they had once owned. I walk away with 42 of the original 50 tomatoes. (real wealth)
***AUTHOR'S NOTE***
If the players had added 950 tomatoes to the original 50 (GDP growth), there could be no bubble and the Tomato Note would have retained its 1-1 value. (1000 notes / 1000 tomatoes) In any monetary system, increased production serves to make a currency stronger. But Mortimer could still have debased the currency by printing up even more notes and then being the first one to "cash out." In bubble economics the first sellers to get out of the game (stock market, real estate market etc), will profit unfairly by receiving inflated "fake" value for their stocks, homes, currency etc. When the game then adjusts to the burst bubble value, the remaining sellers get less. (Examples: Investors who sold their stocks when the Dow Jones was at 14,000. Homeowners who sold in 2006 at the peak of the real estate bubble. Investors who in 2007 exchanged US dollars for gold or other hard commodities.)
An honest money system keeps the growth of money supply proportionate to the growth of goods and services (GDP) for a 1-1 ratio. (no inflation / no deflation) But when money is printed "out of thin air" (as opposed to gold or silver which have intrinsic value due to rarity and beauty ) Mortimer is always ahead of the players, especially when he starts lending notes to the Mayor and local bank, at interest. When that happens, all of Tomatoville becomes Mortimer's poker game.
But the real problem is that the four suckers, believing they were "wealthy", had charged up a lifestyle that they can no longer sustain.
That car Bill bought for his wife? Can you say "Repo Man?"
Franks new restaurant? The chefs and some waiters will have to be laid off (increased unemployment).
Mike's credit card bills? Soon to be delinquent and destroying his credit rating. (credit crunch, local Bank losses)
John's new home? Foreclosure, followed by divorce (housing slump).
The merchants who had sold or loaned to them will also be negatively affected. Anyone who had dealings with the free spending Poker players is also holding devalued notes and possibly carrying bad debts. The artificial debt & inflation prosperity had spread like viruses, and now the malinvestment balloon has to painfully deflate.
The bewildered and frightened town folk don't understand how this happened. Because of my Ivy League credentials, coupled with the fact that I have accumulated so much wealth, they look to me for expert advice and answers.
I explain to them that we are in a liquidity crisis:
"Friends! This is part of the natural business cycle. Sure, you have suffered a short term loss, but in the long term we all come out OK as the markets recover. You saw how much wealth you had earned. If you get out of the game you'll be locking in your losses."
"The market has hit bottom. Truth be told, you guys helped create this mess yourselves with your reckless consumer borrowing, and the local bank should have known better than to lend its depositors tomatoes out so carelessly. (blaming the symptoms, instead of the cause) This is the problem with free market capitalism sometimes."
"I will advise Mayor Bulshitz to institute new legislation, a huge stimulus package, and more regulation over private enterprise (New Deal). We shall create a social safety net in order to protect you from future naturally occurring business cycles." (Great Society, War on Poverty)
"Greedy CEO's, town's shopkeepers, and your employers created this mess and it must never happen again. (class warfare) We will impose strict price controls to fight the inflation that the greedy , price-gouging shopkeepers caused."
"We will tax the rich! (Federal Income Tax, established in 1913) Free health care! Free education! (socialism) Liberty! Equality! Fraternity! Change we can believe in! Hope! Yes we can! Workers unite! You have nothing to lose but the chains which bind you!"
"Don't worry about the town's Constitution. It's an outdated document written by a bunch of dead white guys. If we are to fix this mess, then we must ignore its limitations on progressive government action."
***AUTHOR'S NOTE***
To feed the insatiable debt monster, and to maintain confidence in his notes, Mortimer must have a perpetually growing GDP (more tomatoes). If not, runaway debt and inflation will cause the economy to implode sooner, rather than later. GDP growth is fueled by "consumer spending"(consumption) and the constant borrowing which enables it. This is why economists, politicians, and other assorted lunatics are so obsessed with constant GDP growth.
.
.
"The tomato must no longer serve as the backing for our currency. To meet the liquidity needs of our new system, it is imperative that we get this town off of that antiquated, "barbaric fruit" Standard (hard money) and transition to my expertly managed paper currency." (fiat money)
"As far as the poker markets go, now is the time to play even more aggressively (buy low). We'll meet again next month. In the meantime, work harder and bring more tomatoes to the next game, I'll print more notes to increase liquidity and induce the banks to loosen up credit once again. (pump priming)
"If the local banks need to make more loans, I'll lower their reserve requirements so that they can lend (create) money that they don't have. As long as too many depositors don't make withdrawals all at the same time, like you fellows did in our poker game, they'll be none the wiser." (fractional reserve banking)
Even if there is a bank run, or if the bank's loan demand exceeds it's reserve requirement, I'll act as the "lender of last resort" (Federal Reserve, established in 1913) and lend (create money for) to the local bank at interest (Bank takeover, Discount Window).
I will also lend to (create money for) the Mayor's office (Open Market Operations, purchase of T-Bills, stimulus) , and bail out (create money for) the Tomato Street Brokerage houses that I deem to be "too big to fail" (Goldman Sachs, JP Morgan bailout package).
I continue: "Finally, I will organize an emergency meeting of the Mayors, Finance Ministers, and Note Printers of the European towns (G-20, "world stage"). Now is not the time for isolationism. (independence, sovereignty) Global problems demand global solutions! (IMF, World Bank, WTO, UN)."
"We will recover. So keep spending, secure in the knowledge that the best and the brightest of the world community are on the job. We have nothing to fear but fear itself!"
.***AUTHOR'S NOTE***
The "business cycle" is very simple. When the rate of growth in money supply (debt supply) exceeds the rate of growth in the general economy (GDP), the excess "money" has to go somewhere. It creates an illusion of prosperity. Artificial bubbles will form either in housing, stocks, currency, etc. Eventually the market always corrects for these phony excesses and the bubbles burst. (just like the poker game.)
THE WRAPUP
The men leave my place full of hope, grateful that a financial "expert" and a caring leader are in charge of the recovery plan. Incredibly, I have convinced them that it was free enterprise, tomato currency, and limited government (the three main pillars of their original prosperity), that caused their problems.
Instead of seeing my inflationary system, my perpetual interest demands, and the Mayor's out-of-control spending and high taxes as the causes of their lower standard of living, they actually worship Mayor Bulshitz as a savior. Bulshitz gives them all the socialistic "free" goodies that our destructive schemes made unaffordable for them in the first place.
First we crush the owners and the workers of the private economy. Then, Bulshitz rides in like a knight on a white horse, offering welfare schemes to save them.
The simple townfolk never stop to think that were it not for us, they would have the income and capital to take care of themselves!
When Bulshitz runs short of money (as he always does), I'm there to lend it to his office...at interest of course.
Damn I love this job! .
My European colleagues and forefathers have been running this scam for centuries. During this past century, we've been working to diversify our operations to include control of the world's natural resources. Whenever some independent-minded foreign mayor resists our game of Banking & Resource Monopoly, (Iraq, Russia, Venezuela, Iran), our friendly mayors (the "free world") will team up to bring that town back in line (sanctions,UN resolutions, spreading democracy,CIA coups,wars). Perhaps one day we may even merge our operations under a single global umbrella? (New World Order, G-20, Global New Deal, Global Warming scare)
I also play golf with the owners and publishers of the local "liberal" newspaper as well as with those from the "conservative" media. Through my close friendship with them, I am able to influence the editorial and news content of both. It's sort of a "good ole boys" networking thing. As long as they don't expose my operation, I am happy to allow the two parties and their sheeplike followers to amuse themselves with the daily drama of those superficial popularity contests known as "political campaigns." By having the "left" and the "right" beat each other up, the townfolk are kept divided and diverted from my actions. In the end, it is I who wins EVERY election.
My "philanthropic endowments" to Tomatoville University guarantee that my twisted version of economics is taught to the students. Awestruck by my immense wealth and prestige, most, but not all ("Austrian School"), of the economists at "TU" are eating out of my hands. So, when the town folk read The Tomato Street Journal, or hear Professor Pointyhead speak on TV, my false theories are reinforced in their minds.(Keynesian Theory, "Chicago School")
All, except for John - the critical thinker of T-ville. He figures it all out and embarks upon a one man Internet crusade to expose me, calling me a "counterfeiter", "usurer", "insider trader", "warmonger", and "The Shadow Mayor."
My fellow Country Club members from the media convince everyone that John is "paranoid", and an "extremist" who is a mentally unstable "conspiracy theorist" and potential "domestic terrorist." Most of the town folks defend my intellect and character, and disassociate themselves from John. The others are too burned out by the hustle of life to even make the time to study politics and economics. Eventually, John is denied access to The Tomato Street Journal and throws his hands up in frustration.
Tomatoville is deeply in debt in to me because the massive police force and the "safety net" programs (that my destructive monetary schemes necessitated) are very expensive! I've got so much dirt on Mayor Bulshitz, that if he dares to either reintroduce the tomato standard, or if he decides to print interest free currency proportionate to the amount of real goods and services in the town, my newspaper friends and slick TNN anchormen can ruin him.
***AUTHOR'S NOTE***
A typical example of the incestuous old boy's network that exists between the Wall Street, Washington DC, Central Banking, and corporate media elite, is the case of international banker, Eugene Meyer.
WALL STREET: Meyer got his start as an investment banker with the firm of Lazard-Freres. He became a wealthy speculator and earned a seat on the New York Stock Exchange. WASHINGTON: Meyer served as head of the War Finance Corporation under President Woodrow Wilson during World War I. CENTRAL BANKING: President Hoover later named Meyer as Chairman of the Federal Reserve in 1930, which he chaired until 1933. After World War II, President Truman appointed him to head the World Bank. MEDIA:Meyer bought the Washington Post in 1933 (Arguably America's most influential newspaper). The Post also owns Newsweek.
Upon Meyer's death, control of The Post passed to his daughter, Katherine Meyer Graham. Today, The Post is run by Katherine's son, Donald Graham.
Below: "All in the family." The Meyer-Grahams 100 year old influence includes the White House, the FED, The World Bank, The Washington Post, and Newsweek Magazine.
But Mayor Bulshitz, as well as his rivals from the other Party, are all very easy to get along with. Most politicians are just ambitious liars who only care about getting re-elected. My printer helps cover the huge budget deficits generated by their vote-buying welfare schemes and their endless foreign wars. One hand washes the other. It doesn't serve the insatiable ambitions of the local politicians to alienate a well connected "bi-partisan" donor like me.
Every few years, for public show, Mayor Bulshitz gets to nominate a printing "Chairman" from my list of preferred professors. Because of this "dog and pony show", most readers of The Tomato Street Journal believe that the central banking operation is regulated by the Mayor's office. It's not.
In reality, it is a private cartel, owned and operated by my banking associates and me. It is only our cartel that gets to print (or E-mail) the actual money supply, and then inject it at will into the government treasury (FED purchase of T-bills) and banking systems (FED loans to member banks, lower reserve requirements), as we see fit.
Because debt is the actual currency, you can never stay out of debt. The total of all debt and interest owed always exceeds the total money supply.
So you see, this debt based currency system is actually nothing but a massive pyramid scheme. We international banking and media kingpins sit on the top. Our wholly owned politicians, professors, & reporters sit on the levels below. While you worker bees are stuck on the bottom levels - toiling away to perpetually support the crushing weight of our fraudulent structure.
It's like a game of musical chairs, where the number of players always exceeds the amount of chairs. I start and stop the music at my pleasure as you exhaust yourselves running around in circles for my amusement. I stimulate the "booms" (blowing bubbles), and the "busts" (letting some air out), profiting from both.
Now you know the secrets of my success and power. You're probably wondering why I would reveal the truth and indict myself like this. Right?
It's simple. It's because I do not respect you. I know that no matter how badly I screw you, no matter how much I steal from your kids' mouths...you won't do a damn thing about it.
It would never even cross your mind to take the personal initiative to spread this story around to your friends and family. If everyone who read my confession passed it on to 10 others, my game would be up in no time. But I know you won't do that. As long as there is a ballgame or TV show to entertain you, as long as you have a few beers in your refrigerator, I can do or say whatever I want...forever.
Poker at my house, everybody! Who's in?
Mortimer M. Moneybags III
Saturday, June 19, 2010
Happy Juneteeth!
By Frances Rice
As we celebrate Juneteenth, also known as Freedom Day or Emancipation Day, it is fitting that we pause to recognize the origin of this important part of our African American heritage.
June 19th marks the day in 1865 when word reached blacks in Texas that slavery in the United States had been abolished. More than two years earlier, on January 1, 1863, Republican President Abraham Lincoln had issued the Emancipation Proclamation.
Delivered during the American Civil War, this proclamation ordered the freeing of all slaves in states that were rebelling against Union forces. The proclamation had little effect in Texas, where there were few Union troops to enforce the order.
News of the proclamation officially reached Texas on June 19, 1865, when Union General Gordon Granger, backed by nearly 2,000 troops, arrived in the city of Galveston and publicly announced that slavery in the United States had ended. Republicans had passed the Thirteenth Amendment on January 31, 1865 that was ratified on December 6, 1865 to abolish slavery in the United States.
Reactions among newly freed slaves ranged from shock and disbelief to jubilant celebration. That day has been known ever since as Juneteenth, a name probably derived from the slang combination of the words June and nineteenth.
Juneteenth commemorations began in Texas in 1866. Within a few years they had spread to other states and became an annual tradition, celebrating freedom for blacks in addition to many other themes, including education, self-improvement, African American accomplishments throughout history, and tolerance and respect for all cultures.
The racial divisiveness prevalent today would not exist if the Democrats in control of the Southern states had left African Americans alone at the moment in history when blacks were freed from slavery and the Juneteenth celebrations began. Instead Democrats set for themselves the horrendous task of keeping blacks in virtual slavery.
Southern Democrats passed discriminatory Black Codes in 1865 to suppress, restrict, and deny blacks the same privileges as whites. The Codes forced blacks to serve as apprentices to their former slave masters.
In 1866, the Ku Klux Klan was started by Democrats to lynch and terrorize Republicans, black and white, and the Ku Klux Klan became the terrorist arm of the Democratic Party.
To counter the discriminatory and terrorizing actions by Democrats, Republicans passed the Civil Rights Act of 1866 and the Reconstruction Act of 1867 that was designed to establish a new government system in the Democrat-controlled South, one that was fair to blacks.
Further, the Fourteenth Amendment pushed by Republicans was ratified in1868 that granted blacks citizenship. The Fifteenth Amendment also pushed by Republicans was ratified in 1870 that granted blacks the right to vote.
Undaunted, Democrats passed discriminatory Jim Crow Laws in 1875 to restrict the rights of blacks to use public facilities. In response, Republicans passed the Civil Rights Act of 1875 which prohibited racial discrimination in public facilities.
Shamefully, Democrats fought against anti-lynching laws, and when the Democrats regained control of Congress in 1892, they passed the Repeal Act of 1894 that overturned civil right laws enacted by Republicans. Further, the U.S. Supreme Court sided with Democrats and issued a ruling in the case of "Plessy v. Ferguson" in 1896 that established the "separate but equal" doctrine. That opinion stated that it was not a violation of the Constitution to have separate facilities for blacks. It took Republicans nearly six decades to finally get the civil rights laws of the 1950's and 1960's passed over the objection of the Democrats.
To advance civil rights for blacks, Republicans started the NAACP on February 12, 1909, the 100th anniversary of the birth of Abraham Lincoln. The first black head of the NAACP was black Republican James Weldon Johnson who became general secretary in 1920 and wrote the lyrics to the song "Lift Every Voice and Sing". Republicans also founded the HBCU's (Historically Black Colleges and Universities) because Democrats were trying to prevent blacks from getting a good education.
During the civil rights era of the 1960's, Dr. Martin Luther King, Jr. fought to stop Democrats from denying civil rights to blacks. It should come as no surprise that Dr. Martin Luther King, Jr. as a Republican as has been affirmed by his niece, Dr. Alveda C. King in a video posted on YouTube.
Dr. Martin Luther King, Jr. would not have joined the Democratic Party, the party of the Ku Klux Klan and segregation.
Dr. King fought against Democrat Public Safety Commissioner Eugene "Bull" Connor in Birmingham who let loose vicious dogs and turned skin-burning fire hoses on black civil rights demonstrators.
Democrat Georgia Governor Lester Maddox famously brandished ax handles to prevent blacks from patronizing his restaurant. Democrat Alabama Governor George Wallace stood in front of the Alabama schoolhouse in 1963 and thundered, "Segregation now, segregation tomorrow, segregation forever." All of these racist Democrats remained Democrats until the day they died.
The so-called "Dixiecrats" remained Democrats and did not migrate to the Republican Party. The Dixiecrats were a group of Southern Democrats who, in the 1948 national election, ran a third party ticket that supported segregation and Jim Crow laws passed by Democrats. Even so, they continued to be Democrats for all local and state elections, as well as for all future national elections.
Unknown today is the fact that the Democratic Party supported the Topeka, Kansas school board in the 1954 "Brown v. Topeka Board of Education" Supreme Court decision by Chief Justice Earl Warren who was appointed by Republican President Dwight Eisenhower. This landmark decision declared that the "separate but equal" doctrine violated the 14th Amendment and ended school segregation.
After the Brown decision, Democrat Arkansas Governor Orville Faubus tried to prevent desegregation of a Little Rock public school. President Eisenhower sent troops to Arkansas to desegregate the schools and pushed through the 1957 Civil Rights Act. In 1958, Eisenhower established a permanent US Civil Rights Commission that had been rejected by prior Democrat presidents, including President Franklin D. Roosevelt.
Ignored today is the fact that it was Roosevelt who started blacks on the path to dependency on government handouts during the Great Depression with his "New Deal" that turned out to be a bad deal for blacks. Even though Roosevelt received the vote of many blacks, Roosevelt banned black American newspapers from the military because he was convinced the newspapers were communists.
Much is made of Democrat President Harry Truman's issuing an Executive Order in 1948 to desegregate the military. Not mentioned is the fact that it was Eisenhower who actually took action to effectively end segregation in the military.
Little known is the fact that it was Republican Senator Everett Dirksen from Illinois, not Democrat President Lyndon Johnson, who pushed through the landmark 1964 Civil Rights Act. In fact, Dirksen was instrumental in the passage of civil rights legislation in 1957, 1960, 1964, 1965 and 1968. The chief opponents of the 1964 Civil Rights Act were Democrat Senators Sam Ervin, Albert Gore, Sr. and Robert Byrd, a former official in the Ku Klux Klan who is still in Congress. None of these racist Democrats became Republicans.
Democrats ignore the pivotal role played by Senator Dirksen in obtaining passage of the landmark 1964 Civil Rights Act, while heralding President Johnson as a civil rights advocate for signing the bill.
Notably, in his 4,500-word State of the Union Address delivered on January 4, 1965, Johnson mentioned scores of topics for federal action, but only thirty five words were devoted to civil rights. He did not mention one word about voting rights. Information about Johnson's anemic civil rights policy positions can be found in the "Public Papers of the President, Lyndon B. Johnson," 1965, vol. 1, p.1-9..
In their campaign to unfairly paint the Republican Party today as racists, Democrats point to President Johnson's prediction that there would be an exodus from the Democratic Party because of Johnson's signing the Civil Rights Act of 1964. Omitted from the Democrats' rewritten history is what Johnson actually meant by his prediction. Johnson's statement was not made out of a concern that racist Democrats would suddenly join the Republican Party that was fighting for the civil rights of blacks. Instead, Johnson feared that the racist Democrats would again form a third party, such as the short-lived States Rights Democratic Party. In fact, Alabama's Democrat Governor George C. Wallace in 1968 started the American Independent Party that attracted other racist candidates, including Democrat Atlanta Mayor (later Governor of Georgia) Lester Maddox.
Democrat President John F. Kennedy is also lauded as a civil rights advocate. In reality, Kennedy voted against the 1957 Civil rights Act while he was a senator. After he became president, John F. Kennedy opposed the 1963 March on Washington by Dr. King that was organized by A. Phillip Randolph who was a black Republican.
President Kennedy, through his brother Attorney General Robert Kennedy, had Dr. King wiretapped and investigated by the FBI on suspicion of being a Communist in order to undermine Dr. King. To his credit, Republican President Ronald Reagan made Dr. King's birthday a federal holiday, ignoring how the Democrats had smeared Dr. King.
Democrats denounced Senator Trent Lott for his remarks about Senator Strom Thurmond. However, there was silence when Democrat Senator Christopher Dodd praised Senator Byrd, a former official in the Ku Klux Klan, as someone who would have been "a great senator for any moment." Senator Thurmond was never in the Ku Klux Klan and, after he became a Republican, Thurmond defended blacks against lynching and the discriminatory poll taxes imposed on blacks by Democrats.
Democrats today castigate Republican Senator Barry Goldwater as anti-black. However a review of Senator Barry Goldwater's record shows that he was a Libertarian, not a racist. Goldwater was a member of the Arizona NAACP and was involved in desegregating the Arizona National Guard.
Goldwater also supported the Civil Rights Act of 1957 and the Civil Rights Act of 1960, as well as the constitutional amendment banning the poll tax. His opposition to the more comprehensive Civil Rights Act of 1964 was based on his libertarian views about government. Goldwater believed that the 1964 Act, as written, unconstitutionally extended the federal government's commerce power to private citizens, furthering the government's efforts to "legislate morality" and restrict the rights of employers.
It is instructive to read the entire text of Goldwater's 1964 speech at the 28th Republican National Convention, accepting the nomination for president that is available from the Arizona Historical Foundation. By the end of his career, Goldwater was one of the most respected members of either party and was considered a stabilizing influence in the Senate. Senator Goldwater's speech may be found also on the Internet.
In the arsenal of the Democrats is a condemnation of Republican President Richard Nixon for his so-called "Southern Strategy." These same Democrats expressed no concern when the racially segregated South voted solidly for Democrats for over 100 years, yet unfairly deride Republicans because of the thirty-year odyssey of the South switching to the Republican Party that began in the 1970's. Nixon's "Southern Strategy" was an effort on his part to get fair-minded people in the South to stop voting for Democrats who did not share their values and were discriminating against blacks. Georgia did not switch until 2004, and Louisiana was controlled by Democrats until the election of Republican Governor Bobby Jindal in 2007.
As the co-architect of Nixon's "Southern Strategy", Pat Buchanan provided a first-hand account of the origin and intent of that strategy in a 2002 article that can be found on the Internet.
In that article, Buchanan wrote that when Nixon kicked off his historic comeback in 1966 with a column about the South (written by Buchanan), Nixon declared that the Republican Party would be built on a foundation of states rights, human rights, small government and a strong national defense, and leave it to the "party of Maddox, Mahoney and Wallace to squeeze the last ounce of political juice out of the rotting fruit of racial injustice."
During the 1966 campaign, Nixon was personally thanked by Dr. King for his help in passing the Civil Rights Act of 1957. Nixon also endorsed all Republicans, except the members of the John Birch Society.
Notably, the enforcement of affirmative action began with Richard Nixon's 1969 Philadelphia Plan (crafted by black Republican Art Fletcher who became know as "the father of affirmative action enforcement") that set the nation's first goals and timetables. Nixon was also responsible for the passage of civil rights legislation in the 1970's.
Fletcher, as president of the United Negro College Fund, coined the phrase "the mind is a terrible thing to waste." Fletcher was also one of the original nine plaintiffs in the famous "Brown v. Topeka Board of Education" decision. Fletcher briefly pursued a bid for the Republican presidential nomination in 1995.
Nixon began his merit-based affirmative action program to overcome the harm caused by Democrat President Woodrow Wilson who, after he was elected in 1912, kicked blacks out of federal government jobs and prevented blacks from obtaining federal contracts. Also, while Wilson was president and Congress was controlled by the Democrats, more discriminatory bills were introduced in Congress than ever before in our nation's history. Today, Democrats have turned affirmative action into an unfair quota system that even most blacks do not support.
For more details on the true history of civil rights please read the book "Blacks, Whites and Racist Democrats: The Untold History of Race and Politics within the Democratic Party from 1792-2009" by Wayne Perryman.
Just as Democrats built their economic power base on the backs of poor blacks during the time of slavery, Democrats today have built their political power base on the backs of poor blacks today.
As author Michael Scheuer stated, the Democratic Party is the party of the four S's: slavery, secession, segregation and now socialism.
Democrats have been running black communities for the past 40 years, and the socialist policies of the Democrats have destroyed the economic and social fabric of black communities. A wise man once wrote that the definition of insanity is doing the same thing over and over again and expecting different results.
It is way past time for blacks to end their unfounded loyalty to the Democratic Party, stop having their vote taken for granted and seize control over their own destiny.
Only then will blacks be truly free.
As we celebrate Juneteenth, also known as Freedom Day or Emancipation Day, it is fitting that we pause to recognize the origin of this important part of our African American heritage.
June 19th marks the day in 1865 when word reached blacks in Texas that slavery in the United States had been abolished. More than two years earlier, on January 1, 1863, Republican President Abraham Lincoln had issued the Emancipation Proclamation.
Delivered during the American Civil War, this proclamation ordered the freeing of all slaves in states that were rebelling against Union forces. The proclamation had little effect in Texas, where there were few Union troops to enforce the order.
News of the proclamation officially reached Texas on June 19, 1865, when Union General Gordon Granger, backed by nearly 2,000 troops, arrived in the city of Galveston and publicly announced that slavery in the United States had ended. Republicans had passed the Thirteenth Amendment on January 31, 1865 that was ratified on December 6, 1865 to abolish slavery in the United States.
Reactions among newly freed slaves ranged from shock and disbelief to jubilant celebration. That day has been known ever since as Juneteenth, a name probably derived from the slang combination of the words June and nineteenth.
Juneteenth commemorations began in Texas in 1866. Within a few years they had spread to other states and became an annual tradition, celebrating freedom for blacks in addition to many other themes, including education, self-improvement, African American accomplishments throughout history, and tolerance and respect for all cultures.
The racial divisiveness prevalent today would not exist if the Democrats in control of the Southern states had left African Americans alone at the moment in history when blacks were freed from slavery and the Juneteenth celebrations began. Instead Democrats set for themselves the horrendous task of keeping blacks in virtual slavery.
Southern Democrats passed discriminatory Black Codes in 1865 to suppress, restrict, and deny blacks the same privileges as whites. The Codes forced blacks to serve as apprentices to their former slave masters.
In 1866, the Ku Klux Klan was started by Democrats to lynch and terrorize Republicans, black and white, and the Ku Klux Klan became the terrorist arm of the Democratic Party.
To counter the discriminatory and terrorizing actions by Democrats, Republicans passed the Civil Rights Act of 1866 and the Reconstruction Act of 1867 that was designed to establish a new government system in the Democrat-controlled South, one that was fair to blacks.
Further, the Fourteenth Amendment pushed by Republicans was ratified in1868 that granted blacks citizenship. The Fifteenth Amendment also pushed by Republicans was ratified in 1870 that granted blacks the right to vote.
Undaunted, Democrats passed discriminatory Jim Crow Laws in 1875 to restrict the rights of blacks to use public facilities. In response, Republicans passed the Civil Rights Act of 1875 which prohibited racial discrimination in public facilities.
Shamefully, Democrats fought against anti-lynching laws, and when the Democrats regained control of Congress in 1892, they passed the Repeal Act of 1894 that overturned civil right laws enacted by Republicans. Further, the U.S. Supreme Court sided with Democrats and issued a ruling in the case of "Plessy v. Ferguson" in 1896 that established the "separate but equal" doctrine. That opinion stated that it was not a violation of the Constitution to have separate facilities for blacks. It took Republicans nearly six decades to finally get the civil rights laws of the 1950's and 1960's passed over the objection of the Democrats.
To advance civil rights for blacks, Republicans started the NAACP on February 12, 1909, the 100th anniversary of the birth of Abraham Lincoln. The first black head of the NAACP was black Republican James Weldon Johnson who became general secretary in 1920 and wrote the lyrics to the song "Lift Every Voice and Sing". Republicans also founded the HBCU's (Historically Black Colleges and Universities) because Democrats were trying to prevent blacks from getting a good education.
During the civil rights era of the 1960's, Dr. Martin Luther King, Jr. fought to stop Democrats from denying civil rights to blacks. It should come as no surprise that Dr. Martin Luther King, Jr. as a Republican as has been affirmed by his niece, Dr. Alveda C. King in a video posted on YouTube.
Dr. Martin Luther King, Jr. would not have joined the Democratic Party, the party of the Ku Klux Klan and segregation.
Dr. King fought against Democrat Public Safety Commissioner Eugene "Bull" Connor in Birmingham who let loose vicious dogs and turned skin-burning fire hoses on black civil rights demonstrators.
Democrat Georgia Governor Lester Maddox famously brandished ax handles to prevent blacks from patronizing his restaurant. Democrat Alabama Governor George Wallace stood in front of the Alabama schoolhouse in 1963 and thundered, "Segregation now, segregation tomorrow, segregation forever." All of these racist Democrats remained Democrats until the day they died.
The so-called "Dixiecrats" remained Democrats and did not migrate to the Republican Party. The Dixiecrats were a group of Southern Democrats who, in the 1948 national election, ran a third party ticket that supported segregation and Jim Crow laws passed by Democrats. Even so, they continued to be Democrats for all local and state elections, as well as for all future national elections.
Unknown today is the fact that the Democratic Party supported the Topeka, Kansas school board in the 1954 "Brown v. Topeka Board of Education" Supreme Court decision by Chief Justice Earl Warren who was appointed by Republican President Dwight Eisenhower. This landmark decision declared that the "separate but equal" doctrine violated the 14th Amendment and ended school segregation.
After the Brown decision, Democrat Arkansas Governor Orville Faubus tried to prevent desegregation of a Little Rock public school. President Eisenhower sent troops to Arkansas to desegregate the schools and pushed through the 1957 Civil Rights Act. In 1958, Eisenhower established a permanent US Civil Rights Commission that had been rejected by prior Democrat presidents, including President Franklin D. Roosevelt.
Ignored today is the fact that it was Roosevelt who started blacks on the path to dependency on government handouts during the Great Depression with his "New Deal" that turned out to be a bad deal for blacks. Even though Roosevelt received the vote of many blacks, Roosevelt banned black American newspapers from the military because he was convinced the newspapers were communists.
Much is made of Democrat President Harry Truman's issuing an Executive Order in 1948 to desegregate the military. Not mentioned is the fact that it was Eisenhower who actually took action to effectively end segregation in the military.
Little known is the fact that it was Republican Senator Everett Dirksen from Illinois, not Democrat President Lyndon Johnson, who pushed through the landmark 1964 Civil Rights Act. In fact, Dirksen was instrumental in the passage of civil rights legislation in 1957, 1960, 1964, 1965 and 1968. The chief opponents of the 1964 Civil Rights Act were Democrat Senators Sam Ervin, Albert Gore, Sr. and Robert Byrd, a former official in the Ku Klux Klan who is still in Congress. None of these racist Democrats became Republicans.
Democrats ignore the pivotal role played by Senator Dirksen in obtaining passage of the landmark 1964 Civil Rights Act, while heralding President Johnson as a civil rights advocate for signing the bill.
Notably, in his 4,500-word State of the Union Address delivered on January 4, 1965, Johnson mentioned scores of topics for federal action, but only thirty five words were devoted to civil rights. He did not mention one word about voting rights. Information about Johnson's anemic civil rights policy positions can be found in the "Public Papers of the President, Lyndon B. Johnson," 1965, vol. 1, p.1-9..
In their campaign to unfairly paint the Republican Party today as racists, Democrats point to President Johnson's prediction that there would be an exodus from the Democratic Party because of Johnson's signing the Civil Rights Act of 1964. Omitted from the Democrats' rewritten history is what Johnson actually meant by his prediction. Johnson's statement was not made out of a concern that racist Democrats would suddenly join the Republican Party that was fighting for the civil rights of blacks. Instead, Johnson feared that the racist Democrats would again form a third party, such as the short-lived States Rights Democratic Party. In fact, Alabama's Democrat Governor George C. Wallace in 1968 started the American Independent Party that attracted other racist candidates, including Democrat Atlanta Mayor (later Governor of Georgia) Lester Maddox.
Democrat President John F. Kennedy is also lauded as a civil rights advocate. In reality, Kennedy voted against the 1957 Civil rights Act while he was a senator. After he became president, John F. Kennedy opposed the 1963 March on Washington by Dr. King that was organized by A. Phillip Randolph who was a black Republican.
President Kennedy, through his brother Attorney General Robert Kennedy, had Dr. King wiretapped and investigated by the FBI on suspicion of being a Communist in order to undermine Dr. King. To his credit, Republican President Ronald Reagan made Dr. King's birthday a federal holiday, ignoring how the Democrats had smeared Dr. King.
Democrats denounced Senator Trent Lott for his remarks about Senator Strom Thurmond. However, there was silence when Democrat Senator Christopher Dodd praised Senator Byrd, a former official in the Ku Klux Klan, as someone who would have been "a great senator for any moment." Senator Thurmond was never in the Ku Klux Klan and, after he became a Republican, Thurmond defended blacks against lynching and the discriminatory poll taxes imposed on blacks by Democrats.
Democrats today castigate Republican Senator Barry Goldwater as anti-black. However a review of Senator Barry Goldwater's record shows that he was a Libertarian, not a racist. Goldwater was a member of the Arizona NAACP and was involved in desegregating the Arizona National Guard.
Goldwater also supported the Civil Rights Act of 1957 and the Civil Rights Act of 1960, as well as the constitutional amendment banning the poll tax. His opposition to the more comprehensive Civil Rights Act of 1964 was based on his libertarian views about government. Goldwater believed that the 1964 Act, as written, unconstitutionally extended the federal government's commerce power to private citizens, furthering the government's efforts to "legislate morality" and restrict the rights of employers.
It is instructive to read the entire text of Goldwater's 1964 speech at the 28th Republican National Convention, accepting the nomination for president that is available from the Arizona Historical Foundation. By the end of his career, Goldwater was one of the most respected members of either party and was considered a stabilizing influence in the Senate. Senator Goldwater's speech may be found also on the Internet.
In the arsenal of the Democrats is a condemnation of Republican President Richard Nixon for his so-called "Southern Strategy." These same Democrats expressed no concern when the racially segregated South voted solidly for Democrats for over 100 years, yet unfairly deride Republicans because of the thirty-year odyssey of the South switching to the Republican Party that began in the 1970's. Nixon's "Southern Strategy" was an effort on his part to get fair-minded people in the South to stop voting for Democrats who did not share their values and were discriminating against blacks. Georgia did not switch until 2004, and Louisiana was controlled by Democrats until the election of Republican Governor Bobby Jindal in 2007.
As the co-architect of Nixon's "Southern Strategy", Pat Buchanan provided a first-hand account of the origin and intent of that strategy in a 2002 article that can be found on the Internet.
In that article, Buchanan wrote that when Nixon kicked off his historic comeback in 1966 with a column about the South (written by Buchanan), Nixon declared that the Republican Party would be built on a foundation of states rights, human rights, small government and a strong national defense, and leave it to the "party of Maddox, Mahoney and Wallace to squeeze the last ounce of political juice out of the rotting fruit of racial injustice."
During the 1966 campaign, Nixon was personally thanked by Dr. King for his help in passing the Civil Rights Act of 1957. Nixon also endorsed all Republicans, except the members of the John Birch Society.
Notably, the enforcement of affirmative action began with Richard Nixon's 1969 Philadelphia Plan (crafted by black Republican Art Fletcher who became know as "the father of affirmative action enforcement") that set the nation's first goals and timetables. Nixon was also responsible for the passage of civil rights legislation in the 1970's.
Fletcher, as president of the United Negro College Fund, coined the phrase "the mind is a terrible thing to waste." Fletcher was also one of the original nine plaintiffs in the famous "Brown v. Topeka Board of Education" decision. Fletcher briefly pursued a bid for the Republican presidential nomination in 1995.
Nixon began his merit-based affirmative action program to overcome the harm caused by Democrat President Woodrow Wilson who, after he was elected in 1912, kicked blacks out of federal government jobs and prevented blacks from obtaining federal contracts. Also, while Wilson was president and Congress was controlled by the Democrats, more discriminatory bills were introduced in Congress than ever before in our nation's history. Today, Democrats have turned affirmative action into an unfair quota system that even most blacks do not support.
For more details on the true history of civil rights please read the book "Blacks, Whites and Racist Democrats: The Untold History of Race and Politics within the Democratic Party from 1792-2009" by Wayne Perryman.
Just as Democrats built their economic power base on the backs of poor blacks during the time of slavery, Democrats today have built their political power base on the backs of poor blacks today.
As author Michael Scheuer stated, the Democratic Party is the party of the four S's: slavery, secession, segregation and now socialism.
Democrats have been running black communities for the past 40 years, and the socialist policies of the Democrats have destroyed the economic and social fabric of black communities. A wise man once wrote that the definition of insanity is doing the same thing over and over again and expecting different results.
It is way past time for blacks to end their unfounded loyalty to the Democratic Party, stop having their vote taken for granted and seize control over their own destiny.
Only then will blacks be truly free.
Friday, May 21, 2010
Cronyism By Michael Beitler
Cronyism
By Michael Beitler
Perhaps the biggest problem in America today is cronyism. Cronyism is big business in bed with big government. Big businesses buy influence through their campaign contributions, including political action committee (PAC) contributions.
Small business owners and entrepreneurs do not have the money to hire professional lobbyists or to fund a PAC. Big businesses have the money to hire professional lobbyists and to fund PACs. The professional lobbyists hired by big businesses work to pass burdensome regulations to crush smaller competitors. The big business PACs make contributions to political candidates (mostly incumbents) in exchange for favors.
Lobbying for big business has become a big business itself. One look at K Street in Washington, DC will give you an indication of the extent of this form of corruption. Some of these lobbyists are the most powerful people in Washington.
It is common knowledge in politics that PACs only contribute to incumbents. Of course, an exception will be made if a well-funded opponent has the financial clout to beat the incumbent. The exception is made because the ultimate goal is not to help any particular candidate but to buy influence.
Cronyism is not new. Eisenhower warned America about a developing military-industrial complex. Daniel Guérin's 1936 book, "Fascism and Big Business" was about fascist governments and their corrupt relationships with big business.
Robert Bradley's recent book, "Capitalism at Work" (2009), contains descriptions of how powerful individuals and corporations have mastered the skills of cronyism. Ken Lay of Enron was widely recognized (and praised) as a world-class player. Ken Lay wrote the playbook for others to follow.
Go to www.fec.gov and look at the list of PAC contributions to incumbents in your state. It is not hard to understand why incumbents have an advantage over their opponents. It is equally clear why the PACs make these contributions.
Let me conclude with a pet peeve. There is no such thing as "crony capitalism." Cronyism and capitalism are complete opposites. Capitalism, the economic/political system upon which America was built, is based on free markets; cronyism is based on buying influence to control markets. The term "cronyism capitalism" makes as much sense as "free-market communism."
From Campaign for Liberty
These are not my words, but this is what we are fighting. Freedom and government protection are the same opposites as free-market communism.
Delia
By Michael Beitler
Perhaps the biggest problem in America today is cronyism. Cronyism is big business in bed with big government. Big businesses buy influence through their campaign contributions, including political action committee (PAC) contributions.
Small business owners and entrepreneurs do not have the money to hire professional lobbyists or to fund a PAC. Big businesses have the money to hire professional lobbyists and to fund PACs. The professional lobbyists hired by big businesses work to pass burdensome regulations to crush smaller competitors. The big business PACs make contributions to political candidates (mostly incumbents) in exchange for favors.
Lobbying for big business has become a big business itself. One look at K Street in Washington, DC will give you an indication of the extent of this form of corruption. Some of these lobbyists are the most powerful people in Washington.
It is common knowledge in politics that PACs only contribute to incumbents. Of course, an exception will be made if a well-funded opponent has the financial clout to beat the incumbent. The exception is made because the ultimate goal is not to help any particular candidate but to buy influence.
Cronyism is not new. Eisenhower warned America about a developing military-industrial complex. Daniel Guérin's 1936 book, "Fascism and Big Business" was about fascist governments and their corrupt relationships with big business.
Robert Bradley's recent book, "Capitalism at Work" (2009), contains descriptions of how powerful individuals and corporations have mastered the skills of cronyism. Ken Lay of Enron was widely recognized (and praised) as a world-class player. Ken Lay wrote the playbook for others to follow.
Go to www.fec.gov and look at the list of PAC contributions to incumbents in your state. It is not hard to understand why incumbents have an advantage over their opponents. It is equally clear why the PACs make these contributions.
Let me conclude with a pet peeve. There is no such thing as "crony capitalism." Cronyism and capitalism are complete opposites. Capitalism, the economic/political system upon which America was built, is based on free markets; cronyism is based on buying influence to control markets. The term "cronyism capitalism" makes as much sense as "free-market communism."
From Campaign for Liberty
These are not my words, but this is what we are fighting. Freedom and government protection are the same opposites as free-market communism.
Delia
Monday, May 3, 2010
Raffle!
I am a big supporter of the Constitution and all of our rights! I value freedom over all other things. What good is life if you are not free? Of what use is wealth if you are not free? Is vibrant health of value if you are locked up? We created this government to secure our rights. We have allowed this government to become an overbearing monster from which we must get permission before we can catch a fish! I am a republican because I believe in freedom! This nation became great because of our freedoms! We must do what ever each of us can do to protect our freedoms. One after another one administration after another our rights are being stripped away! We are having a raffle to help fund congressional pest removal. I have a really hard time asking for donations. I just feel wrong. I have not actually managed to just ask. I am told everyone know how expensive running a congressional campaign is and that you need funds to pay for printing, website, signs the list seems endless! So we are having a raffle http://www.springfield-armory.com/armory.php?version=18 Springfield Armory 1911 PX9 152LP. It is a thing of beauty. If you are interested in purchasing tickets you can email me at Delia@dlopezforcongress.com we have several people selling them in the Portland OR area. The legal transfer will be handled by the Gun Zone and the winner must be able to pass the back ground check and be legally able to accept the firearm. For an out of area winner the weapon will need to be shipped to a licensed dealer near you for back ground check and legal transfer. We will be selling 1999 tickets at $5 (if we are able to sell every single one of them) and having the drawing on the 4th of July a day recognized as celebrating our FREEDOM! Winner need not be present to win. If you want to purchase a ticket or (100?) you may do so on my website. The donate button accepts credit cards or checks or? Please put raffle in comments and add your phone number. We will be drawing the ticket and calling the winner so we will need it. I promise not to call you otherwise!
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