Posted tagged ‘The Feds Money Printing’

Must Reads For The Week 11/3/18

November 4, 2018

Demotivational Thursday, by theburningplatform.com. This is really good. Here are a few examples of what is in this post from theburningplatform:

Meetings

Poster

Mistakes

Procrastination

 

Social Justice begets Poetic Justice – Be Careful What You Wish For. by Mark Shupe, at centerforindividualism.org. Excerpt from the article: “Poetic justice is the consequence of reality. It rewards rational behavior and long-term thinking, ethics being a primary building block for civilization.”

“Social justice is the opposite. Virtue is sacrifice, reality is different for everyone, and none of it is spontaneous…..social justice is irrational meaning it is a dishonest insinuation that one ought to agree to a demand of some special interest which can give no real reason for it. Instead of self-determination the governing elites believe it is in their power to design and determine future outcomes.”

“Social justice is top down, forced, and contrived for the benefit of identity groups. Poetic justice is bottom up, organic, and derived. Like English common law, poetic justice is an emergent phenomenon, and about the individual.”

“The most prolific social justice warrior of 21st century America is President Barack Obama; and in an extraordinary example of poetic justice, he handed the keys to the White House over to President Donald Trump.

“But President Trump is not a poetic justice warrior, he’s a pragmatist. So who is? Or as Nassim Taleb might ask, who has skin in the game? In Trump’s case, it’s the average citizen who voted for him. People who were tired of being patsies for the political, media, banking, and education elites. People who take care of their families, their customers, and their communities. They think long-term and generally don’t get involved in the activism of politics unless reality beckons. For them, poetic justice is not immediate, only inevitable.

While bureaucracies separate unaccountable decision makers from the consequences of their mediocrity and hubris, decentralization and networks keep risks and rewards where they belong.

Western Media Make One Death A Tragedy, Millions A Statistic, at zerohedge.com. The main stream media picks to cover what is “important” and what “is not important”. Since the MSM has decided the death of Jamal Khashoggi is important, they think all of us should think it is important. But I have some “news” for the MSM. Since time is a scarce resource and value is subjective, I (and probably many other people, although I can’t speak for others) don’t have enough time to spend on something that is near the bottom of (or not on) my value scale. But wait a minute? I did spend a little time writing about this, so did I value this over something else I could have done with this time? Or could it be that writing this weekly post is what I value over something else I could be doing with my time? And this particular article has no value outside of writing this post? Hmmmmmmm……?

How Public Schools Indoctrinate Kids Without Almost Anyone Noticing, by Auguste Meyrat, at thefederalist.com. Excerpt from the article: “While indoctrination involves pushing a certain opinion, it is also much more. It is the comprehensive effort of passively disseminating a particular viewpoint. The passive aspect is key. People who are indoctrinated with a certain narrative or ideology do not arrive at the intended conclusions through their own thinking, but hear the same thing repeated in a million different ways until they finally take it as unquestionable truth.

Because indoctrination happens in the absence of thinking, many teachers who engage in indoctrination do so unconsciously. They themselves take what they’re given and pass it along without thinking.

“Thoughtlessness is essential. As the fictional demon Screwtape, from C.S. Lewis’s “The Screwtape Letters,” states in his letters to Wormwood, “It is funny how mortals always picture us as putting things into their minds: in reality our best work is done by keeping things out.” A person who really thinks will eventually reason himself out of the things he heard at school.”

The only real solution to indoctrination, then, is good teachers. Good teachers (which include parents, mentors, and other knowledgeable adults) train students in methods of thought while supplying the stuff of thought. They teach a person to evaluate an argument properly, find actual solutions to problems, and determine what is true and what is false.”

Paul Volcker’s New Memoir: A Broadside Against His Successors?, by Jeff Deist, at mises.org. The individuals who get their hands on the Feds printed money first receive the benefit, while the rest of us pay for that benefit in higher prices down the road. People who don’t have access to the counterfeit money are having their wealth redistributed to the first receivers of the Feds counterfeit money.

Here is an excerpt from Volcker’s new book: “More recently, a remarkable consensus has developed among central bankers that there’s a new “red line” for policy: A 2% rate of increase in some carefully designed consumer price index is acceptable, even desirable, and at the same time provides a limit.”

“I puzzle about the rational. a 2% target, or limit, was not in my textbooks years ago. I know of no theoretical justification. It’s difficult to be both a target and a limit at the same time. And a 2% inflation rate, successfully maintained, would mean the price level doubles in little more than a generation.”

Exposing The Fed’s Mandate To Pick Your Pocket – The Real Price Of Inflation, at zerohedge.com. Here is a great article related to the one above. It explains, in more detail, who pays for the cost of the Feds inflationary counterfeit money printing policies.

“Your Pet Will Be Confiscated!” : A Shocking Glimpse Inside China’s New Social Credit System, at zerohedge.com. This could never happen in America? Could It? Oh yes it can. And probably is to some extent. It is bad enough that we trust Google with information about us. What happens when these companies voluntarily get into bed with individuals in Government, or individuals in Government force these companies to get into bed with them?

On an unrelated topic:  CIA Secretly Intercepted Congressional Communications About Whistleblowers, by Sharyl Attkisson, at sharylattkisson.com. The things that are happening in China are already happening here. Only on a smaller scale. I hope!

SATIRICAL HEADLINES

Don Lemon: “I Apologize If Any Evil White People Were Offended By My Remarks’,at thebabylonbee.com. This is actually supposed to be satire. But it turns out it is real. To find out Read here.

Opinion: How Do These Elections, Which Pit Us Against Each Other In Win/Lose Scenarios, Keep Leading To Division? at babylonbee.com.

Bernie Sanders Cheerily Greets Trick-Or-Treaters Before Stealing Their Candy For Redistribution, at babylonbee.com.

Data Suggests Democrats’ Rhetoric May Be Inciting Violence Against The Unborn, at babylonbee.com.

Media Congratulates Meghan Markle On Meaningless Blob Of Tissue Developing In Her Womb, at babylonbee.com.

 

CARTOONS

Political Cartoons by Steve Kelley

Political Cartoons by Michael Ramirez

Political Cartoons by Pat Cross

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Must Reads For The Week 10/ 15/ 16

October 15, 2016

Obamacare’s Demise Has Arrived, at economicpolicyjournal.com. We tried to tell everyone that economic laws wouldn’t allow Obamacare to work. Now 60% of Tennessee’s Obamacare consumers will lose their coverage in 2017. Remember when Obama said: “if you like your plan you can keep your plan.” He was lying just like he was lying about those “shovel ready jobs”. Remember when he said: “it looks like those shovel ready jobs weren’t so shovel ready.”

1.4 Million Americans Who “Like Their Healthcare Plan” Set To Lose Them In 2017, at zerohedge.com. As insurance companies pull out of Obamacare exchanges, millions are going to lose their health insurance plans. Central planning provides less care at a higher price. Markets delivers the best possible care at the lowest possible price.

The Reason LA Has 10,000 Food Trucks And Chicago Only Has 70, at economicpolicyojurnal.com. The Chicago city council’s regulations has chosen the incumbent brick and mortar restaurants over the newer food truck businesses. Monopolies can only exist with government sanction. This is like the incumbant taxi cartel trying to get local governments to stop Uber from entering the market.

How Crony Contact Lens Manufacturers Are Trying To Destroy The Free Market In Contact Lenses, at economicpolicyjournal.com. Johnson and Johnson is trying to use government to restore its monopoly position in contact lens sales. Instead of using their time and effort to satisfy consumers, Johnson and Johnson is putting its resources toward lobbying government to regulate competitors out of business. Once again the consumer loses.

“Sharing Economy” Reveals That Licensing Laws Are Really About Shutting Down The Competition, by Brittany Hunter, at mises.org. The sharing economy has provided opportunities for individuals to start their own businesses. Existing businesses want to have the final say if these new competitors are allowed to enter the market. In a free market these existing businesses wouldn’t have the power to stop the competition. They would have to provide better service to keep their customers. Unfortunately we live in a hampered market economy where government has the power to force these competitors out of the market. Status quo businesses lobby government to get them to use force to keep competitors from entering the market. The status quo gains at the expense of the consumer and the upstart businesses.

When Government Fails Papa John Delivers, at economicpolicyjournal.com. An 87 year old Florida grandmother lost power last week because of Hurricane Matthew. Her family, who lived in Nebraska, couldn’t get a hold of her. They called area police and fire departments to get them to reach her to see if she was OK. When police and fire couldn’t get the job done, the grandson decided to call Papa Johns and have a pizza delivered to his grandmother. If it could be delivered, they knew she was OK. They had the delivery man call them when he arrived at her house so their grandmother could talk to them. Markets work better than government.

The Fed Who Cried Growth, by Jonathan Newman, at mises.org. The Fed can’t even predict it’s own behavior. They keep saying they will raise interest rates but for some reason they never pull the trigger. Maybe the economy isn’t in as great of shape as they are telling us it is.

Janet Yellen Tries To Explain The Elusive “Great Recovery”, at zerohedge.com. When you read, or worse yet, listen to one of these Fed central bankers talk it is mind boggling. They use words that sound like their saying something so nuanced that regular people can’t understand their brilliance, but they are actually saying nothing. And that is what they are trying to accomplish. Their monetary policies haven’t worked and they are trying to cover their asses with words.

Us Economy To Grow Just 1.4% In 2016 After Atlanta Fed Slashes Q3 GDP To 1.9%, Half Its Original Estimate, at zerohedge.com. The Fed can’t even print a solid GDP number, even though they have printed $4 plus trillion over the last 8 years. You would think that the policy makers at the Fed would have figured out that you have to first produce before you can consume. Money printing is consumption before production. All money printing does is allow the people who receive it to go out into the market and demand goods with pieces of paper. It is no different than if I counterfeited a $50 dollar bill and purchased $50 dollars worth of goods from a store. I would be stealing these goods just as if I had shoplifted the goods. The Fed is no different than a counterfeiter.

 

CARTOONS

From the burningplatform.

Political Cartoons by Nate Beeler

Political Cartoons by Steve Breen

Political Cartoons by Jerry Holbert

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The Federal Reserve’s Money Laundering Scheme

March 3, 2016

 

 

John Maynard Keynes from “The Economic Consequences of the Peace”, 1919; “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side off destruction, and does it in a manner which not one man in a million is able to diagnose.”

The above quote says it is difficult to understand what happens when government prints money {debases the currency}. So difficult in fact that if you and I understand what happens, there are over 2 million people who don’t understand it. In this article titled Understanding The Federal Reserve’s Shell Game, at mises.org, Dan Sanchez does a great job explaining the abstract economic concept of what happens when The Fed electronically prints counterfeit money.

Here are some excerpts from the article.

The Federal Reserve is a key component of the American Transfer State. Under the guise of “macroeconomic management,” it redistributes vast amounts of wealth on an ongoing basis through inflation. The victims of these transfers are ordinary Americans. The beneficiaries are the government and its elite cronies.”

“The true wealth of society  —  what actually sustains human life and makes it more comfortable and delightful  —  is the stuff we buy with money; not money itself. It’s the food, clothing, housing, smartphones, mountain bikes, and other consumers’ goods. It’s also the farmland, factories, robots, raw materials, labor and other producers’ goods used to make those consumers’ goods.”

Creating new money does not create any additional stuff to go around.”

The new money reaches some people early and some people late. By the time the new money reaches the late receivers, bidding up their selling prices, it has already bid up the prices of the things they buy to an even greater extent. So the late receivers get poorer, while the early receivers get richer.”

And the earliest receivers always include the government and its partners, while the late receivers are usually workers and small business owners who don’t have such lofty connections. So these “commoners” are effectively taxed for the benefit of the government-connected elite. But, since the taxation was effected through inflation, the public doesn’t realize that.

Instead of obnoxiously demanding that the public hand over its wealth, the government just quietly siphons it away. This way it avoids public outrage and resistance, and so is able to maximize the loot. As Jean Baptiste Colbert (finance minister to King Louis XIV of France) put it, “The art of taxation consists in so plucking the goose as to get the most feathers with the least hissing.” With inflation, the geese hardly hiss, because they think they are simply molting, and are unaware they are even being plucked.”

Read the whole article it walks you through how the money laundering happens.

In the article it talks about a general inflation as the money leaks out into the whole economy. But as we saw in the housing boom and bust in the early 2000s, and as we now see in the current financial bubble, the printed money can be pushed into particular sectors of the economy. But the result is the same. The first receiveea benefit at the expense of the people farther down the food chain.

At some point people have to be made to understand that they are getting fleeced by the Federal Reserve’s monetary policy. We have to educate people one person at a time because as Keynes said, “…it’s done in a manner that not one in a million is able to diagnose.” Elite politicians, bureaucrats, and our educators won’t educate people because they benefit from the money printing. It has to come from the bottom up. Spread the word.

In another article titled The Long History of Government Meddling In The American Marketplace, at mises.org, Mike Holly shows that money printing isn’t a new thing, the Federal Reserve started counterfeiting money almost as soon as it came into existence in 1913.

Here are some articles to help understand Fed money printing.

Related ArticleA Tornado vs. The Fed: Which Is More Destructive, at austrianaddict.com.

Related Article Thomas Woods Explains The Austrian Business Cycle Theory, at austrianaddict.com.

Related ArticleFederal Reserve Policies Cause Booms And Busts, at austrianaddict.com.