The Golden Truth: Great Quote

Thursday, January 14, 2010

Great Quote

I stumbled on this quote tonight and thought it was an accurate reflection of what's going in our system:

We haven’t had true capitalism since 1913. We live in a corporate fascist state dominated by the military industrial complex, the financial banking complex and now the healthcare industry complex. It is fascinating that the health industry has spent $396 million in 2009 on lobbying and the financial industry $334 million while Congressmen debate the future of both industries. These industries surprisingly have received a windfall in the legislation that has been put forth by Congress. The system is so corrupt and rotting from within that elections will never result in necessary reform. Corporations are spending $3 billion per year to bribe (lobby) your elected officials. Whose interest do you think Congress is looking out for? (source: link)

As you may or may not know, 1913 was year that the Federal Reserve Act was voted into law. I recall that about 7 years ago, a colleague of mine and I were discussing how the financial/economic/political collapse of this country was going to unfold. I remember my colleague remarked back then that "we would eventually see things happen in this country that will blow our minds." I can truly say that, although we anticipated a lot of the carnage that has transpired, the outright brazen fraud and corruption both on Wall Street and in the White House/Congress is truly mind-blowing.

6 comments:

AnonymousFriday, 15 January, 2010
Dave, what are your thoughts on platinum and palladium? Good idea for Average Joe to have a few physical ounces of each? Thanks in advance!
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Dave in DenverFriday, 15 January, 2010
re: Platinum and palladium. They are probably excellent investments as an investment in commodities. I'm sure China will ultimately try to buy every last gram of each still in the ground. They are not used as monetary metals like gold and silver, so I don't really follow them. I would treat them as part of an investment in commodities, which is different from investing in gold and silver.
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AnonymousFriday, 15 January, 2010
"The system is so corrupt and rotting from within that elections will never result in necessary reform."

If the ballot box fails
The bullet box will not.
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Dave in DenverFriday, 15 January, 2010
That is correct Anonymous. And that is exactly what the Govt had in mind when it implemented the Patriot Acts, Homeland Security Act and Detainee Bill. In fact, if you research the history of the Detainee Bill, you'll find that the original legislation that Bush gave to Congress did not have any reference to "domestic threats to the Government," only "external/foreign" threats. Congress went the extra mile and made sure the Government could arrest and detain U.S. citizens inside the U.S. who were deemed a threat.

It just gets worse from here...unfortunately it will take some kind of eventual revolution from the populace if we ever want to get rid of what is and restore was once was a couple hundred years ago.
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Julia WongSaturday, 16 January, 2010
Are you sure what once was a couple of hundreds ago was good? I am not familiar with American history but I once watched a movie "Gangster of New York" and it was quite horrifying. That was supposed to be a depiction of NYC ~ 150 years ago.

I guess the gangsters then = banksters now.
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Dave in DenverSaturday, 16 January, 2010
JW, it's been pretty corrupt since the times of Washington, Jefferson and Adams. But it's become corrupt beyond repair since the founding of the Fed and since the closing of the gold window and since that past several Presidents have decided the Constitution is better used at toilet paper.

At the very least, making everyone use gold as the standard of currency keeps some degree honesty. We had that up until FDR.
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.