Why Do Terrorists Hate Americans?

Russia Supports Return To Gold Standard

It had to happen one day.

Daily I search through the economic news of the day, looking for those who talk about gold. Finally, a major power has spoken about the inclusion of gold to assist in providing discipline to the world financial markets. I thought it would have been China to first approach the idea, but it is Russia, and this is sure to not play well with the Americans. It does make sense for it to be Russia, as the article mentions they have untapped gold reserves and their own intelligence agency has publicly talked about the collapse of the United States because their currency is not anchored by gold.

You can read about it here.

It Ain't Your Money To Spend!

Fascism In Action

Different President, same bullshit.

Peter Schiff on Morning Joe

Mainstream media begins to understand logic.

Quote - Ernest Hemingway

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

Ernest Hemingway

Quote

The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community. Always attribute his success to the exploitation, the cheating, the more or less open robbery of others. Never under any circumstances admit that your own failure may be owing to your own weakness, or that the failure of anyone else may be due to his own defects - his laziness, incompetence, improvidence, or stupidity.

Henry Hazlitt

The Real Problem With The Economy

Cool Video

Bathtub IV from Keith Loutit on Vimeo.

Peter Schiff on The Hour (CBC)

Part 2
Part 3
Part 4
Part 5

XKCD

I regularly check out xkcd. It's a web comic and it's funny most of the time. I especially liked this one:

One World Currency On Its Way

Read here.

It will take more than the IMF printing its own currency to create a one world currency, however, this is where it begins.

Lincoln Quote

You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help small men up by tearing big men down. You cannot help the poor by destroying the rich. You cannot lift the wage-earner up by pulling the wage-payer down. You cannot keep out of trouble by spending more than your income. You cannot further the brotherhood of man by inciting class hatred. You cannot establish sound social security on borrowed money. You cannot build character and courage by taking away a mans initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.

Another Cartoon

Found here.

Editorial Cartoon

Found here.

The Union: The Business Behind Getting High

Regulation Not All Bad

The whole theory behind the need for a central bank is not one I subscribe to, but while we have one, they should be regulated to the tilt. Noone should be able to print and lend money without oversights and restraints. The power that comes with the ability to print money is too tempting and, as with any amount of power, often gets abused. The Bank Of Canada and The Fed are two examples of this. Both believe they can print and inflate their way out of the current financial woes, even though it was this same policy that put us into the mess. I shook my head with frustration the other day when I read the Bank of Canada was to begin "quantitative easing", aka printing money.

Of course, in the end, no one can ignore the natural laws of economics. Those that make wise decisions rise, and those that make poor decisions fail. Right now we're seeing the west fail in a big way, while others are unexpectedly succeeding.

In Lebanon, the central bank chief, Riad Toufic Salame, implemented some very strong regulations a few years ago on its banking system that no one else dared to do: Banks in Lebanon were barred from investing in mortgage-backed securities and they were only permitted to lend out 70% of deposits.

Now, as the LA Times reports, while most of the world is experiencing economic turmoil, billions of dollars are flooding into Lebanon as a safe-haven (who would have thought). Their banks are offering a 6% yield on just savings accounts. Where can I get myself one of those? Oh...Lebanon.

Its good to know at least one nation was wise and resisted the urge to get drunk on cheap credit.

Pen and Teller Take Advantage Of Environmentalists

Ron Paul: What If...?