Those that ignore history...

" The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work instead of living on public assistance". Cicero , 55 BC

Facebook has corrupted me, I am looking for the like button

Yonni wrote:

Facebook has corrupted me, I am looking for the like button

+1

And yet today, The Bernanke is throwing out the high probability that QE3 is coming!
We can only conclude that our leaders are intentionally creating severe hyper-inflation.
Prepare for recession X 1000! Better buy a few cases of corned beef, canned tuna, and more ammo. The destruction of our economy is deliberate. So, who's gonna vote for The Progressive Agenda in 2012?

http://thehill.com/blogs/on-the-money/801-economy/171155-bernanke-silent-on-debt-talks-warns-of-continued-weakness-in-economy

"Bernanke in the past has scolded lawmakers, saying they should raise the debt ceiling to avoid further economic problems.

He told the congressional panel that several factors weighing down the economy were temporary, but acknowledged a continued weak labor market.

Slow-growing consumer spending, continued struggles in the housing market, less access to credit and the tightening of government spending all are "headwinds" slowing the recovery, Bernanke said in his prepared testimony.

He suggested the Fed was considering the pros and cons of further stimulus, echoing the minutes of the Federal Open Market Committee (FOMC) released Tuesday.

The Fed could be more explicit about its plans for interest rates, or purchase even more securities in a third "quantitative easing" effort — after wrapping up the second round of such an effort at the end of June. The Fed could also reduce the rate of interest it pays to banks on their reserves, which would put downward pressure on short-term interest rates.

Bernanke acknowledged, however, that the Fed's experience with such moves is "relatively limited" and all those plans come with "risks and costs."~ The Hill

Good information found here: http://www.inflation.us/


"Bernanke is Wrong, Gold is Money


Federal Reserve Chairman Ben Bernanke today said that the Federal Reserve is prepared to act with an additional round of quantitative easing if there is any weakening of the U.S. economy and threat of deflation. Bernanke also said that the Fed could act in other ways to stimulate the economy, such as cutting the interest rate that the Fed pays to banks on their $1.5 trillion in excess reserves that they currently keep parked at the Fed. NIA believes this $1.5 trillion alone would multiply into $15 trillion once it circulates through the U.S. economy and if Bernanke on top of that unleashes any additional quantitative easing, it will just about guarantee hyperinflation. Bernanke has made it very clear that he is prepared to print money until the U.S. dollar becomes worthless and the incomes and savings of all U.S. citizens are destroyed.

Ron Paul today asked Bernanke whether or not he watches the price of gold and if he thinks gold is money. Although Bernanke admitted that he does watch the price of gold, Bernanke said that gold is not money, but it is only an asset. Bernanke explained that central banks only hold gold as a "tradition". The truth is, gold has been accepted as money throughout all civilizations over periods of thousands of years. Bernanke doesn't want U.S. citizens to wake up and realize that they can opt-out of the criminal Federal Reserve system if they get rid of their U.S. dollars and store all of their wealth in gold and silver. To see a video of Ron Paul's exchange today with Bernanke, simply visit our blog at: http://inflation.us/blog/2011/07/video-of-ron-paul-asking-bernanke-if-gold-is-money/


The U.S. Constitution defined gold as legal tender and the current fiat currency system we have today where Bernanke can steal from the purchasing power of the poor and middle-class and redistribute this wealth to his banker friends on Wall Street is unconstitutional, immoral, and illegal. The U.S. dollar originally only had purchasing power because it was backed by gold. Today, the U.S. dollar is a fiat currency that is backed by nothing. Any remaining purchasing power the U.S. dollar still has is just an illusion and will soon evaporate due to Bernanke's actions.

In order for an item to function as money, it should be liquid and easily tradable, easily transportable, and durable. It should be divisible into smaller units without destroying its value and should also be fungible, meaning one unit of equal weight must be equivalent to another (which is why diamonds can't be used as money). The item must also be a specific weight, measure, or size, so that it is easy to count. It must be long lasting, durable, and not perishable or subject to decay (which is why food items can't be used as money).

Money must be easily recognizable and most importantly, it must be difficult to counterfeit. The U.S. dollar simply isn't real money because Bernanke has been counterfeiting trillions of dollars out of thin air. Money shouldn't require a mark or image to be valuable, but it should just be valuable based on weight and measure. Gold is valuable based on its weight and measure, and fits all of these other qualities and characteristics as well. Never do people explore shipwrecks hoping to discover U.S. dollars, because dollars that Bernanke can print at will even if they could survive the corrosion of the ocean, simply won't have any purchasing power left by the time explorers can locate them. People explore shipwrecks for gold, because it will last underwater for thousands of years and always retain its value.

When Zimbabwe's President Robert Mugabe ordered their central bank to implement exactly the same monetary policies that Bernanke has been ordered to implement here in the U.S., the Zimbabwe dollar became worthless and Zimbabweans were forced to pan their rivers for gold. Citizens of Zimbabwe who were able to find 0.1 gram of gold after a long hard day's work of shifting through thousands of buckets full of mud, were able to take that 0.1 gram of gold and exchange it for a loaf of bread. Those who were too old or weak to pan for gold simply couldn't afford food and starved to death.

NIA recommends to all U.S. citizens that they read this eHow article about homemade gold panning: http://www.ehow.com/how_7763218_homemade-gold-panning.html This is a skill all Americans will need to have in order to survive hyperinflation. Unfortunately, unlike in Zimbabwe, most gold in U.S. rivers has already been explored for, so Americans might not be as lucky as Zimbabweans.

In order for an asset to be considered money, its supply must be kept scarce. Bernanke has spent a total of $4.7 trillion since the financial crisis of late-2008, which has flooded the world with excess liquidity of U.S. dollars and led to massive inflation in the prices of food and energy, the two items that Americans need most to live and survive. The inflation problems in China are a direct result of their currency peg to the U.S. dollar and willingness to accept the dollars we print in return for the real goods they produce. As soon as the Chinese central bank decides to end their currency peg, China's currency will increase in purchasing power and all of the monetary inflation the U.S. has exported to them will flow back to the U.S. like a giant tsunami.

Ron Paul today pointed out exactly what we said in our last article. Since the last Presidential election about three years ago, the U.S. dollar has lost about half of its purchasing power priced in gold. Although the U.S. government's Bureau of Labor Statistics (BLS) has reported only 2% annual price inflation over the past three years, when you account for how the U.S. government used to calculate price inflation before the implementation of hedonics and quantitative easing, annual price inflation has actually been closer to 9%. Soon when price inflation begins spiraling out of control, Bernanke will be forced to raise the Fed Funds Rate north of 10%, which will cause our interest payments on the national debt to soar to over $1 trillion per year. The U.S. government will then need to immediately end Social Security, Medicare, Medicaid, and all other entitlement programs, to have any chance of survival.

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us" ~ NIA

another article, says the same stuff http://finance.yahoo.com/news/Bernanke-Fed-would-supply-apf-1990658503.html?x=0&.v=7

What will it take for the American people to wake up and see what is happening? By the time they do it will be too late to fix all these issues. Why the sky is falling attitude? Bloody hell because it is, and the dimwits in DC are just making things worse, all parties involved! Got to admit we live in a very unique situation, we are in a DEPRESSION, yet most are not "feeling" it like the depression of the '20's. It gets my blood pressure up just thinking how frustrating it is to tell people how dire things are, and it just gets brushed off!

$500.00 for a loaf of bread = HYPER-inflation: be prepared.

"Oh you're just and Extremist berg" ~ Probably something VOR would say

fatbass wrote:

" The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work instead of living on public assistance". Cicero , 55 BC

Yet Rome still imploded.

The wisdom is sound regardless.

BERG wrote:

$30.00 for a loaf of bread = HYPER-inflation: be prepared.

"Oh you're just and Extremist berg" ~ Probably something VOR would say

Man, my CCW permit can't come in the mail fast enough.......

After reading more good sources today, I edited the price of bread. Make that $500.00 per loaf. That's where this is going. Just when it's going to happen I don't know, yet I truly believe that it is inevitable. But hey, I'm just an "Extremist" claiming that the sky will fall at some point in time. Well, you gonna let the sky hit you in the head, or will you be prepared? Funny thing, not many folks care to have an open and honest discussion about this sort of thing, because keeping one's head buried in the sand seems to be the new American way. Socialists win by keeping the masses dumbed down and dependent on the pseudo-god government to supply the majority of their needs.

"Oh that's just crazy talk berg" ~ probably something Bernanke and Barney Frank (aka Elmer Fudd) would say.

US too dumb to know O is always right

http://www.nypost.com/p/news/national/us_too_dumb_to_know_is_always_right_G4K8WElXRNRR8NvsXQAz0H

Found this gem of an editorial!!!!!

Revelation 6:5-6
5And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.

6And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.


The word penny in the first century when this book was written is better translated "Denarius" which equaled about a days wages... A measure of wheat was roughly enough for a meal in this time period. Just a thought

HA HA BERG you are NOT an Extremist!!!!!! You are a full blown end of the world, battery hoarding, water storing WHACK JOB!!!

Damn!!! How do you get to sleep at night.

http://www.thenation.com/article/162001/debt-ceiling-delusions

"Republicans with what, at almost any other time in recent history, would be seen as a conservative’s dream: $4 trillion in spending cuts over ten years, and the offer to restructure core pieces of the Democratic legacy, including Social Security and Medicare."

Furthermore

"Boehner walked away from the deal not because the cuts weren’t steep enough but because they would be achieved, in part, through tax increases on hedge-fund managers, private jet owners and oil and gas companies."

This is what is known as a fact BERG... Not one of your delusional fantasies

"When Republicans decry tax increases, it is all too rare to hear the media respond with facts or to offer historical perspective. In the 1950s, the corporate sector accounted for an average of 27.6 percent of all federal revenues; in 2010 it was 8.9 percent. And individual tax rates for the richest are now lower than in all but five of the past seventy-nine years."


Look you Kook, this fiasco will roll along untill the "Good Old Boy's" on Wall Street tug on the puppet strings of their GOP toys and MAKE them raise the debt ceiling.

I slept great last night Thanks. Yet again, you make a myriad of assumptions and pull nonsense out of your hind quarter. No need for me to comment really, because anyone with even a small amount of brains can see that you are a delusional lunatic.
This, in addition to your chronic media parrotitis, referhightis, and self proclaimed narcissistic God complex. I would suggest calling your doctor for a prescription of 10mg valium tablets. Please take a few of those and then pound a fifth of Wild Turkey. Maybe you will wake up in Utopia... a fitting place for an extremely confussed moderate. Glad I could help.

Cry Baby had to walk out of the meeting, because he simply can't handle the rejection of his misguided National Socialist Agenda.

http://www.theblaze.com/stories/obama-allegedly-storms-out-of-budget-negotiations-with-republican-lawmakers/

Poor little cry baby BHO.

It will be interesting to see if this really does affect the Moody's rating of the US and if that has a negative connotation toward the economy (definitely wont be positive though).

Typical Washington, spend spend spend, hike taxes, spend

I really like the kool-aid banner Bax. Perfectly appropriate for the worst President in history.

BERG wrote:

I really like the kool-aid banner Bax. Perfectly appropriate for the worst President in history.

Thanks Berg,

I almost didnt recognize ya without that little leprechaun looking fellow as an avatar