Liberty in Eclipse is on sale now at The Right Source.

at 7:52 AM Labels: economic apocalypse, Federal Reserve, Fiat currency I once remember listening to Wayne Hage talk about the issue/evils of Federal land ownership at a Constitution seminar. What really jumped out at me was the point he made that all of the lands (BLM/USFS/NWR etc) have been used as surety against the debts held by foreign nations. I am convinced the push that has taken place over the last thirty years to lock up the resources of these federal lands is really due in part to the demands placed on us by the foreign govts. who hold our debt. The "spotted owls" and "kangaraoo rats" are jsut a thin smokle screen. Once our dollar has been declared worthless and we as a nation have fully defaulted on our debts then the lenders will demand compensation. Whereupon will have 100s of million of acres -chalk full of natural resources- to give to them to plunder. If boobus americanus is worried about the fate of the chinook salmon today wait until an entity of the chinese government is mining away. Environmental safeguards what safeguards? - you are now our resource colony . Shut up and get used to it or else your goose stepping govt will have you hauled away to one of their new detention centers. Ahhh the world "economy" circa 2009.

February 25, 2008 at 11:10 PM Enter Rothbard on the foolishness of the official policy (Or is it intentional?):"It might be objected that depression only began when credit expansion ceased. Why shouldn't the government continue credit expansion indefinitely? In the first place, the longer the inflationary boom continues, the more painful and severe will be the necessary adjustment process, Second, the boom cannot continue indefinitely, because eventually the public awakens to the governmental policy of permanent inflation, and flees from money into goods, making its purchases while the dollar is worth more than it will be in future. The result will be a "runaway" or hyperinflation, so familiar to history, and particularly to the modern world.[21] Hyperinflation, on any count, is far worse than any depression: it destroys the currency — the lifeblood of the economy; it ruins and shatters the middle class and all "fixed income groups"; it wreaks havoc unbounded. And furthermore, it leads finally to unemployment and lower living standards, since there is little point in working when earned income depreciates by the hour. More time is spent hunting goods to buy. To avoid such a calamity, then, credit expansion must stop sometime, and this will bring a depression into being." Very scary stuff. I wonder who will get to buy this country wants it has to be liquidated? Any thoughts on that Will?

February 25, 2008 at 11:50 PM I assume China is most addicted to our debt. Never really thought about any others though.

February 25, 2008 at 11:53 PM traitor2tyranny said...

Will, What do you think of
this solution to this horrible problem?

February 26, 2008 at 7:41 AM Private AND COMPETITIVE Currencies:

February 26, 2008 at 8:19 AM It's OK to quote Benn Steil if you want. But I'd like to offer another Benn Steil quote for balance:

"As for the United States, it needs to perpetuate the sound money policies of former Federal Reserve Chairs Paul Volcker and Alan Greenspan and return to long-term fiscal discipline."

Paul Volcker, maybe. But a man who regards Alan Greenspan as an exemplar of "sound money policies" is clearly out to lunch.

Steil's agenda, as I read it, is to consolidate the world's cacaphony of confetti currencies into three big ones; the dollar, the euro, and a newly-minted Asian unit. Then (although Steil discreetly doesn't venture there), the final three would be consolidated into a single global currency under a to-be-announced CFR plan.

Will's instinctive sense that the CFR is a deadly snake-in-the-grass is quite accurate. Anyone who praises Al "One Percent Forever" Greenspan is part of the problem, not part of the solution.

The Federal Reserve is an engine of inflationary war finance, pure and simple. The Depublicrat War Party has no intention of stopping the inflation, now or ever. Welcome to Zimbabwe, comrades!

February 26, 2008 at 10:17 AM John Polomny said...

Anybody that stores their wealth in dollars while the FED and the government steal it through currency debasement will end up like an Argentinian in the late 1980's. Buy gold and protect your wealth from your government.

February 27, 2008 at 8:02 PM I'm embarrassed that I only just realized this: that our debtor to and hegemony of all nations status is can only be maintained by use and threat of military force. To be sure there are "Jacksonian" political officials, such as Huckabee, who truly believe that the U.S. should be absolute ruler of the world, but those intelligent and honest enough to realize that idea is unrealistic, know that our status and lifestyle can only be maintained by the illusion that this is the richest nation on earth. The government is in a poker game without even a pair twos, but still bluffing and betting the whole house with everything in it. Our ruling class surely realize that if we don't continue to "project power" (kill and main) over the whole of the earth, the world will call their bluff and the game will be up. They seem to think either this bluff can go on forever, it can't because we're already giving tells (Iraq and Afghanistan), or they just don't care because they won't be effected anyway.

March 3, 2008 at 8:08 PM JanieBean said...

I really like your blog. I just started one for the first time. Check it out and give me some constructive criticism on it.

That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.
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