¨We might be seeing the birth of the BRICS Gold Central Bank…¨ – Jim Willie
(…) the government tends not to fund academics or economic schools of thought that do not promote its central role in the economy (…) the human person is a cog in an economic machine that must be coerced to act in ways that make their systems work. – Christopher Westley (1)
Picture of the week
Jim Willie CB (1): ”(…) astonishing rapid deterioration. Consumers and business are holding firm their money rather than investing it, as they see poor prospects. Continue reading
”People are running out of patience when it comes to finding a job and losing income,
so it’s not that surprising to have workers take jobs that are in the shadow economy.”
- Real economy must be based upon voluntary transactions.
- The taxman would have you believe that voluntary transactions in cash constitute a black market.
- The black market is considered a subset of the informal economy, of which 1.8 billion people worldwide are employed.
- Statutory courts have ruled that a government can virtually tax any transaction.
- The creation of statutory obligations would be violating the Natural Law and the natural rights of individuals.
- Governments designed the imposed partnership split (reported as GDP).
- The Question is: Where is the enforceable contract?
“As long as it is admitted that the law may be diverted from its true purpose — that it may violate property instead of protecting it — then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder.” - Frédéric Bastiat
“(…) the result of a deliberate political decision
to increase the quantity of money
de facto without any limit.”
“Unbacked paper money is political money
and as such it is a disruptive element
in a system of free markets.”
” a new act would re-establish a firewall
between commercial and investment banking,
making the financial system more secure, stable (…)”
Jim Willie, Ph.D. : “The Bernanke Fed is realizing they are stuck in the monetary corner with NO EXIT. They began to mention the need for an exit in the spring months of 2009. That is when the 0% official rate should have been abandoned. Here we are four years later, and they are still stuck with no exit, precisely as the Jackass warned, forecasted, and screamed in print.”
“A government can be understood as a territorial monopolist of compulsion: an agency that engages in institutionalized property rights violations and the exploitation – in the form of expropriation, taxation, and regulation – of private property owners.” Thorsten Polleit (1)
“The state cannot even exist without committing the crimes of extortion and robbery which states call taxation.” Robert Higgs (2)
“They get you to act through a title that they can regulate, that is statutory bound and that must pay taxes to its creator – and they are the beneficiary of that.” Dean Clifford (3)
“The US flourished for over 120 years without an income tax, and our liberty and prosperity will only benefit from getting rid of the current tax system.“ Ron Paul (4) - emphasis added
Jim Willie: “The pathogenesis is obvious to those in the Sound Money camp. (…) The cadaver in Intensive Care cannot be revived with more intravenous applications of contaminated money, the body dead since September 2008. Insolvent systems rush to the crash zone, where efforts can only delay the outcome.” (1)
“The Eastern solution avoids the USDollar and the entire FOREX system. It will be built upon gold trade settlement, will issue Gold Trade Notes to function like Letters of Credit, will operate as peer to peer instead of passing through the monolith banks, and will be conducted on portable devices like Smartphones and Blackberrys.” (2)
Reginald H. Howe: “A well-functioning international monetary system is as critical to a healthy global economy as a well-functioning circulatory system is to the human body. Backwardation in gold can be compared to very high blood pressure: a sign that something is dangerously amiss and that absent prompt remedial action, a serious and quite possibly catastrophic event is imminent.”
“By relinking the international monetary system to gold in a flexible, practical and effective manner, Chinese GPS ( Gold Positioning System ) could spearhead a return of sanity and soundness to world finance and lay a new foundation for global growth and prosperity.” (3)
“On April 3rd, 2011 Strauss-Kahn stated that “Washington consensus” favorable for the U.S. economic system has collapsed. The head of the IMF called on the world to abandon the U.S. dollar as the global reserve currency. Of course, such statements could not please the American establishment. A month later, the American police accused Strauss-Kahn of rape and detained him. Sex scandals are a favorite weapon of the Americans in the political struggle.” – Sergei Vasilenkov (emphasis added) Continue reading
Picture of the Week
“As is clear by this chart, inflation was virtually unheard of until the Creature from Jekyll Island (the Federal Reserve) took over. However, more importantly, things didn’t really start to get bad until the 1970?s right after Nixon took the nation off the gold standard in 1971. Continue reading
A picture is worth a thousand words…
Gold saw gains against all fiat currencies again in 2012
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“Those nations that depart from the entire USDollar system early will be the leading nations in the next chapter, with stronger foundations, richer solvency, emerging economies, healthier financial markets, efficient credit engines, growing wealth, stronger political helm activity, and better functioning systems generally.“ - Jim Willie (emphasis added)
Tyler Durden: “Canadian MP Pierre Poilievre delivers a rather epic speech destroying the myths of US and European ‘wealth’ … noting that “the US government encouraged millions of Americans to spend money they did not have on homes they could not afford using loans they could never repay and then gave them a tax incentive never to repay it.” Continue reading