Great Depression II – Today’s Quote

[The Fed’s] vastly misguided monetary policies are now setting the stage for a new economic and social catastrophe — one that could rival the financial crisis and horrors of the 1930s.

Steve Forbes via Link dollar to gold or face Great Depression II | WashingtonExaminer.com

They Understand Nothing – Today’s Quote

Nobody smart enough to handle the job ever seeks such positions. Governments are run by lawyer-politicians who think they need only decree some law that solves the problem. They understand nothing.

Tyler Durden via Cameron, Confiscation, And “What’s Yours Ain’t Yours!” | Zero Hedge

Victim To The Welfare Mentality – Today’s Quote

I am angry about the mammoth, out-of-control social welfare entitlement programs from Washington, DC, that were supposed to solve our problems. The obvious truth is these impractical, politically motivated programs have irreparably damaged the fabric of our black society and community.

The irony is, we were told these policies would help us most of all, and yet our community has ended up being the most grievously harmed. To those who fell victim to the welfare mentality, I am sorry to say, you were sold a horrific lie. You are shackled to the twenty-first-century economic plantation. We want nothing more than for you to be liberated as well, because you cannot continue to live in bondage.

The Republican Party was established for one reason: the abolition of slavery through passage of the Thirteenth Amendment. Against the Democratic Party, the Republicans engaged in a fundamental philosophical fight for individual freedom from physical bondage. Today the fight for freedom continues with the same protagonists and antagonists, except now it is economic rather than physical bondage that must be defeated.”

Former U.S. Representative and U.S. Army Lieutenant Colonel Allen West from his book Guardian of the Republic: An American Ronin’s Journey to Faith, Family and Freedom

A New Form of Slavery – Today’s Quote

When Booker T. Washington talked about education, self-reliance and entrepreneurship, he was describing economic independence. But the Great Society has left a legacy of economic dependence, a new form of slavery, and to me, a far more dangerous one, because it destroys the will and determination to excel. As President Franklin Roosevelt said, welfare is “a subtle destroyer of the human spirit.” And that is what I see when I go back to the ol’ Fourth Ward…

The Great Society has turned out to be a big lie, and sadly, those in my community who bought into it are stuck on the twenty-first-century plantation.”

Former U.S. Representative and U.S. Army Lieutenant Colonel Allen West from his book Guardian of the Republic: An American Ronin’s Journey to Faith, Family and Freedom

Debt is Servitude – Today’s Quote

I place [the] economy among the first and most important virtues, and public debt as the greatest of dangers to be feared…we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty…or profusion and servitude.

Revolutionary & President Thomas Jefferson

Paying The Cost Of Our Own Slavery – Today’s Quote

But if you wish to remain slaves of bankers and pay the cost of your own slavery, let them create money.

Baron Josiah Stamp; Director, Bank of England, 1928

Gold Is Money – Today’s Quote

Gold Is Money, and Nothing Else.

Banker and Financier, J.P. Morgan, testifying under oath to Congress before the Pujo Commission in 1913

Gold Backed Yuan – Today’s Quote

I note that China is doing two things: it is building up its gold reserves, and it is building up its military.  Furthermore, I believe China is getting ready to make its currency, the yuan, convertible…  China is preparing to make the yuan the world’s next reserve currency.  And I’ll ask this question once more — would you rather own a yuan which is backed by gold and a powerful military, or would you rather own a dollar, which is backed by debt and a shrinking military?

Richard Russell – via My Blog

Andrew’s Note:  Today’s quote was suggested by our very own P.I.G.

Top 10 Symptoms of Poor Man’s Disease

I’ve been unemployed, I’ve lived check-to-check and I once lived in such a bad neighborhood that I made a game of seeing how many prostitutes I could count on my way home from work (high score was 12) but I’ve never been poor.  I’ve been researching and reading a lot about World War II lately and thinking about that generation that endured not only the great depression, but also the TEOTWAWKI event that was World War II.  We are so wealthy as a society even in the midst of this recession (that Uncle Sugar tells us was over in 2009) compared to what my grandparent’s generation endured.  Most of our ‘poor’ today live like kings compared to even the typical middle class family of the 1940’s but some people still insist on being poor.  I call this insistence on being ‘poor,’ these attitudes that guarantee you won’t improve your situation, ‘poor man’s disease’ and below are the Top 10 Symptoms of Poor Man’s Disease. (more…)

Gold Market Manipulation

For the past year or two I’ve had an ongoing conversation with my friend P.I.G. (the Prepper Investment Guru) on the mechanisms of market manipulation.  You may recognize P.I.G. as he’s a frequent contributor of ideas and quotes to Prepography.  Unfortunatly, P.I.G. can’t write directly for us as he has sacrificed much of his First Amendment freedom upon the alter of compliance because he holds a license to sell securities.  I pass along some of what P.I.G. shares with me but frankly much of what he shares makes sense when he explains it but not when I try to recreate the essence of the lesson or message.  Over time, I’ve come to realize that mechanisms of our financial enslavement are purposely so complicated that even a financially savvy amateur such as yours truly is lost without an expert guide.

P.I.G.’s explanations of market manipulation have led me to pay more attention and the manipulation in the silver market (my personal favorite) has been evident even to this amateur observer.  From time to time P.I.G. sends me an article that he feels captures an aspect of what’s going on in the financial markets…and these I can share with you.

As I previously mentioned, I’ve become interested in the mechanisms of market manipulation and my favorite market to watch is the silver market.  The more I’ve watched the silver market the more I’ve found myself interested in who’s behind the Bank of Nova Scotia and their strange pattern of trading which appears designed to reduce silver prices.  After reading The Hows and Whys of Gold Price Manipulation by Dr. Paul Craig Roberts and Dave Kranzler I now know who the Bank of Nova Scotia’s biggest patron is.

This article also has some of the best analysis of why the Federal Reserve has refused to immediately repatriate the gold reserves it holds for foreign governments when requested.  It does miss the point that what little gold the Fed returned to Germany was not the same gold that was put on deposit as it should have been.

Read  The Hows and Whys of Gold Price Manipulation and see why I’m going to be very nervous the day gold hits $2,000 per ounce.  Here’s a preview:

… request was provoked by rumors circulating [in] the market that gold was being leased and hypothecated in increasing quantities.  About a year later, Germany made a similar request.  The Fed refused to honor Germany’s request and, instead, negotiated a seven year timeline in which it would ship back 300 of Germany’s 1500 tonnes. This made it apparent that the Fed did not have the gold it was supposed to be holding for Germany.

Why does the Fed need seven years in which to return 20 percent of Germany’s gold?  The answer is that the Fed does not have the gold in its vault to deliver.  In 2011 it took four months to return Venezuela’s 160 tonnes of gold. Obviously, the gold was not readily at hand and had to be borrowed, perhaps from unsuspecting private owners who mistakenly believe that their gold is held in trust…

What we are witnessing is our central bank pulling out all stops on integrity and lawfulness in order to serve a small handful of banks that financial deregulation allowed to become “too big to fail” at the expense of our economy and our currency.  When the Fed runs out of gold to borrow, to rehypothecate, and to loot from ETFs, the Fed will have to abandon QE or the US dollar will collapse…

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