The promises cannot be met, and so society decays into warring elites and competing constituencies.
There is a grand, majestic tragedy in the inevitable collapse of once-thriving states and empires: it all seemed so permanent at its peak, so godlike in its power, and then slowly but surely, too many grandiose, unrealistic promises were made to too many elites and constituencies, and then as growth decays to stagnation, the only way to maintain the status quo is to appear to meet all the promises by creating money out of thin air, i.e. debauching the currency. Continue reading →
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When it comes to currency, don’t do as the Romans did…
Ancient Rome wasn’t built in a day, the old adage goes. It wasn’t torn down in a day either, but a good measure of its long decline to oblivion was the government’s bad habit of chipping away at the value of its own currency.
In this essay we refer to “inflation,” but in its classical sense—an increase in the supply of money in excess of the demand for money. The modern-day subversion of the term to mean rising prices, which are one key effect of inflation but not the inflation itself, only confuses the matter and points away from the real culprit, the powers in charge of the money supply. Continue reading →
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The world used gold coins as money up until the first years of 1900.
Since that time, the world’s use of gold as money has ceased, and as of today, gold’s only function is as a means of saving wealth for future use.
Today, the market for gold consists of two groups of individuals or economic entities: a) those who wish to acquire gold for the purpose of saving some wealth for future use, and b) those who hope to realize a profit in terms of paper money, by speculating in the gold market. Continue reading →
“Although there are countless scourges which in general debilitate kingdoms, principalities, and republics, the four most important (in my judgment) are dissension, [abnormal] mortality, barren soil, and debasement of the currency. The first three are so obvious that nobody is unaware of their existence. But the fourth, which concerns money, is taken into account by few persons and only the most perspicacious. For it undermines states, not by a single attack all at once, but gradually and in a certain covert manner.” – Copernicus, Essay on the Coinage of Money (1526)
Few know that Copernicus applied his genius to the insidious effects of currency debasement. Continue reading →
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Our current lie has been in effect since President Wilson signed the Federal Reserve Act on Dec. 23, 1913.
The Looting Bankers
The anti-banker Democrats overwhelmingly supported the Act, while the pro-banker Republicans opposed it. The Banksters themselves were against it because only one of the seven members of the newly-created Federal Reserve Board could represent them. Could you now correctly identify any member of Congress or the Senate who is opposed to the Federal Reserve? There are only two. Sen. Rand Paul (R-Ky.) and Sen. Bernie Sanders (Communist-Vt.).
The lie expanded on Aug. 15, 1971, when President Nixon announced that the U.S. dollar would no longer be backed by physical gold reserves. Continue reading →
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Message on the Repeal of the Sherman Silver Purchase Act
August 8, 1893 ~ The existence of an alarming and extraordinary business situation, involving the welfare and prosperity of all our people, has constrained me to call together in extra session the people’s representatives in Congress, to the end that through a wise and patriotic exercise of the legislative duty, with which they solely are charged, present evils may be mitigated and dangers threatening the future may be averted.
Our unfortunate financial plight is not the result of untoward events nor of conditions related to our natural resources, nor is it traceable to any of the afflictions which frequently check national growth and prosperity. With plenteous crops, with abundant promise of remunerative production and manufacture, with unusual invitation to safe investment, and with satisfactory assurance to business enterprise, suddenly financial distrust and fear have sprung up on every side. . . . Values supposed to be fixed are fast becoming conjectural, and loss and failure have invaded every branch of business. Continue reading →
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Deadbeat Nation: 37 Million Credit Card Accounts In The U.S. Are “Seriously Delinquent” Right Now
Is the consumer debt bubble finally starting to burst? Is the consumer debt bubble finally starting to burst? If the latest numbers on delinquent credit card accounts are any indication, that appears to be precisely what is happening. As I noted the other day, Americans currently have 480 million credit cards, and they are carrying 870 billion dollars worth of balances on those cards… (Continue to full article)
Gold Still on a Long Term Track to Reach $2,000 An Ounce
Why gold is down for the month, but still on a long-term track to reach $2,000 an ounce “A $22 trillion national debt and the lack of any will to rein in massive spending is making America’s creditors nervous and…the ‘risk free’ status of U.S… (Continue to full article)
We’re Living In ‘The Groundhog Show‘
It’s said that truth mirrors fiction. I’m finding this to be the case more and more these days. Take the 1993 comedy Groundhog Day. Bill Murray wakes up each day to relieve the exact same daily circumstances and interpersonal interactions. He relives the same day, February 2, over and over again. No matter what he does, the repetitive cycle won’t break. He goes to sleep, wakes up to his alarm, and it’s the morning of Feb 2 again. Likewise… (Continue to full article)
Yeah Baby, Over an hour of some Mellow Blues…
The Best Time In History To Buy GOLD
Why it’s time to get into gold– We’re on the cusp of “huge changes in the world”– “Massive impact on the price of the most enduring investment in history: GOLD”– “A gold shock is coming” and “$10k gold is not out of the question”… (Continue to full article)
U.S. Job Cut Announcements Rise 117 Percent To The Highest Level That We Have Seen In More Than 3 Years
We have not seen anything like this since the last recession. Layoff announcements are coming fast and furious now, and the speed at which workers are being laid off is shocking a lot of people. In this day and age, big companies have absolutely no loyalty to their workers. The moment it becomes financially advantageous for them to start laying off employees, most of them will do it in a heartbeat… (Continue to full article)
Our new program,Protecting Your Wealth is heard at 3:00 p.m. (Eastern Time), each Tuesday and Thursday on Republic Broadcasting Network. Jeffrey Bennett, host of the program will be sharing over 60 years of his personal experience in the precious metals markets, in addition to educational commentary regarding YOUR financial health and welfare.
~ Quotables ~ "The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true. It really happened. These suspicions are valid." ~ Neil Barofsky
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