End the Fed! National Day of Protest and Education 11:22:08: WORSE THAN THE GREAT DEPRESSION
You can speed the processing of Ending the Fed; by buying Silver now. Each Troy oz is a dagger in the heart of the beast from Jekyll Island. You must own the Physical metal in your hand.
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
Friday, February 27, 2009
Massive Gold Shipments coming into the US?
A secret source in the video implies that the U.S. Government is buying Gold while the dollar is at an all-time high. We see, I have heard reports for years of the U.S. going back on the Gold standard. Most likely the movement will happen with the Gold Bills.
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Wednesday, February 25, 2009
CAFR FUNDS: THE GOVERNMENT SURPLUS SHELL GAME
Now the Cafr Funds are tough to wrap your head around, that there is a 60 Trillion dollar Surplus nationwide. How could that be? How could a fraud this large be so throughly prepetrated? EGO according to Walter Burien. We are so hung up on our own supposed intelligence that we can't see the forest from the trees. We do after all, drink Fluoridated water without a second thought, take chemicals into our body, without a giving a hoot about the consequences to our holy temple. Olestra...need I say more.
So read this article through and re-read it as homework, then go to Walter site and digest the mountain of info there. This is more important than restoring the Gold Standard at this point. First, uncover the massive deception and then fix the problem; which is the use of paper as money. 100 years from now, our descendants will be scracthing their heads, wondering how we could kill each other over paper. Step on our fellow man for paper.
The first thing to understand is that shell games are very profitable. Government expanded their "gross" income as they continued to raise their "tax" income. In doing so, the public's focus was on battling increases in tax income looking at "Budget Reports" and were kept oblivious to governments ever-growing "non-tax income" (CAFR or AFR Reports a 136,000 reports and growing)
The public maintained the illusion that government "survived" off of tax income, (with the help of the bought and paid for Media and Political talking heads monopoly) and as of 2000 only 1/3rd of the gross income when looking at the big picture was tax income.
Now here is the key for comprehension: Government's attitude was; Anything we collect in tax income we are responsible to the public for oversight and disclosure given to the public. Anything we accomplish pertaining to our gross income that is non-tax income, we are only accountable to ourselves and we can invest, spend, and transfer that income as we choose without public oversight and disclosure given. Well, that amount has now blossomed into 2/3rds of the gross income. Publicly promoted budget reports given for public consumption are almost exclusively showing tax income.
The psychology behind maintaining this shell game can be explained with a basic analogy: If you have two neighbors, Steve on the left and Dick on the right.
If Dick every other week knocked on your door to borrow money for this that and the other thing, you would avoid him like the plague, and cringe if you know he is going to or was knocking on your door. You try not to think of him at all.
Now on the other hand if Steve knocked on your door every other week to invite you to fly to Zurich, Munich, Belize, etc., in his personal jet, you are watching him like a hawk, every single move he makes, with patient anticipation of Steve knocking on your door again. You think about him often.
The biggest problem in breaking the veil of illusion with the middle and some of the upper class is ego: "They could not have pulled this off right under my nose, I am an intelligent person and savvy on world social and business affairs."
When these people take the time to independently look for the first time, do the math and then comprehend, then the next phase is depression: "They did it, it is to late now, it is to big, we will never be able to change it.". At that point I tell them to stop their whining, and that they "did it" over the last seventy-five years and that is a snap of the finger time wise. With unified force and comprehensive applied application, it can be corrected in ten to fifteen years, AND as a result all taxation can be phased out and an economy established that will be so prosperous, it will be the definition and start of what is called in biblical terms, the Millennium!...
The "Silence is Golden" routine funneled down from the top maintaining a void of comprehension that was truly golden for them in the conquest / takeover game.
1. Per composite Government, they ALREADY took it all over by investment! In fact many local governments fund their own debt through the back door and promote for repayment by the public at the front door locking in an investment return and ever increasing power base of standing liquid assets.
2. Any "state retirement fund" as are all other local governments retirement funds, they are; "strictly participatory". The employees do not own 1c of those funds they buy a ticket to ride, and the local governments own those funds. These funds are those local government's power base of control, of which they fudge the actuarial projections constantly to inflate the base of those funds. These funds were the primary tool used for government to take it all over by investment.
Government in its own greed and through the use of select off-shore trading accounts has sucked (for a hand to the other hand transfer) a few trillion dollars in total out of many of these funds through derivative market manipulations, to justify a further drain on the people for refunding, and build their investment takeover capital further both seen (domestically managed funds) and unseen (offshore managed funds).
That is why I have said several times over the last five months; "An audit of government's off-shore management funds both directly or indirectly managed is urgently needed to determine the net results of the recent global market manipulations." TRF funds will stabilize government retirement benefits for all government employees with a direct cash deduction payout as needed to those employees and will be done so not even touching a small fraction of the TRF overall fund balances year to year and at the same time pay for the same local government's budgetary expenses. (No taxation needed!)
3. Being that "Government has already taken it all over by investment" the TRF comes in and reverts ownership back to direct benefit to the people through phasing out "all taxation", the biggest organized crime inflicted on the population of this earth, and makes visible the hidden influence peddling for profit accomplished to start war, genocide, or stripping of taxpayer revenue into shill investments held to guarantee a massive profit for the inside players at taxpayer expense and loss, with this being the second biggest crime on earth.
Continued at Source
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
So read this article through and re-read it as homework, then go to Walter site and digest the mountain of info there. This is more important than restoring the Gold Standard at this point. First, uncover the massive deception and then fix the problem; which is the use of paper as money. 100 years from now, our descendants will be scracthing their heads, wondering how we could kill each other over paper. Step on our fellow man for paper.
The first thing to understand is that shell games are very profitable. Government expanded their "gross" income as they continued to raise their "tax" income. In doing so, the public's focus was on battling increases in tax income looking at "Budget Reports" and were kept oblivious to governments ever-growing "non-tax income" (CAFR or AFR Reports a 136,000 reports and growing)
The public maintained the illusion that government "survived" off of tax income, (with the help of the bought and paid for Media and Political talking heads monopoly) and as of 2000 only 1/3rd of the gross income when looking at the big picture was tax income.
Now here is the key for comprehension: Government's attitude was; Anything we collect in tax income we are responsible to the public for oversight and disclosure given to the public. Anything we accomplish pertaining to our gross income that is non-tax income, we are only accountable to ourselves and we can invest, spend, and transfer that income as we choose without public oversight and disclosure given. Well, that amount has now blossomed into 2/3rds of the gross income. Publicly promoted budget reports given for public consumption are almost exclusively showing tax income.
The psychology behind maintaining this shell game can be explained with a basic analogy: If you have two neighbors, Steve on the left and Dick on the right.
If Dick every other week knocked on your door to borrow money for this that and the other thing, you would avoid him like the plague, and cringe if you know he is going to or was knocking on your door. You try not to think of him at all.
Now on the other hand if Steve knocked on your door every other week to invite you to fly to Zurich, Munich, Belize, etc., in his personal jet, you are watching him like a hawk, every single move he makes, with patient anticipation of Steve knocking on your door again. You think about him often.
The biggest problem in breaking the veil of illusion with the middle and some of the upper class is ego: "They could not have pulled this off right under my nose, I am an intelligent person and savvy on world social and business affairs."
When these people take the time to independently look for the first time, do the math and then comprehend, then the next phase is depression: "They did it, it is to late now, it is to big, we will never be able to change it.". At that point I tell them to stop their whining, and that they "did it" over the last seventy-five years and that is a snap of the finger time wise. With unified force and comprehensive applied application, it can be corrected in ten to fifteen years, AND as a result all taxation can be phased out and an economy established that will be so prosperous, it will be the definition and start of what is called in biblical terms, the Millennium!...
The "Silence is Golden" routine funneled down from the top maintaining a void of comprehension that was truly golden for them in the conquest / takeover game.
1. Per composite Government, they ALREADY took it all over by investment! In fact many local governments fund their own debt through the back door and promote for repayment by the public at the front door locking in an investment return and ever increasing power base of standing liquid assets.
2. Any "state retirement fund" as are all other local governments retirement funds, they are; "strictly participatory". The employees do not own 1c of those funds they buy a ticket to ride, and the local governments own those funds. These funds are those local government's power base of control, of which they fudge the actuarial projections constantly to inflate the base of those funds. These funds were the primary tool used for government to take it all over by investment.
Government in its own greed and through the use of select off-shore trading accounts has sucked (for a hand to the other hand transfer) a few trillion dollars in total out of many of these funds through derivative market manipulations, to justify a further drain on the people for refunding, and build their investment takeover capital further both seen (domestically managed funds) and unseen (offshore managed funds).
That is why I have said several times over the last five months; "An audit of government's off-shore management funds both directly or indirectly managed is urgently needed to determine the net results of the recent global market manipulations." TRF funds will stabilize government retirement benefits for all government employees with a direct cash deduction payout as needed to those employees and will be done so not even touching a small fraction of the TRF overall fund balances year to year and at the same time pay for the same local government's budgetary expenses. (No taxation needed!)
3. Being that "Government has already taken it all over by investment" the TRF comes in and reverts ownership back to direct benefit to the people through phasing out "all taxation", the biggest organized crime inflicted on the population of this earth, and makes visible the hidden influence peddling for profit accomplished to start war, genocide, or stripping of taxpayer revenue into shill investments held to guarantee a massive profit for the inside players at taxpayer expense and loss, with this being the second biggest crime on earth.
Continued at Source
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Tuesday, February 24, 2009
Ron Paul: Transperancy of the Fed
In this article Ron Paul advocates a repeal of the legal tender laws to allow competing currencies. He of course is talking about competing currencies fully backed by Gold and Silver, much like the New Hampshire Gold currency bill found at Goldmoneybill.org
On Transparency of the Fed
This week the Federal Reserve responded to the American people’s increased concerns over our monetary policy by presenting new initiatives aimed at enhancing the Fed’s transparency and accountability. As someone who has called for more openness from the Fed for over 30 years, I was pleased to see the Fed acknowledge the legitimacy of this need.
The Federal Reserve controls the flow of money and credit in our economy because Congress has abdicated its responsibility over the nation’s currency. This process therefore occurs centrally, and almost completely outside the system of checks and balances. Because of legal tender laws, people are left with no real choice, except to build their lives and futures around this monopoly currency, vulnerable to powerful central bankers. The Founding Fathers intended only gold and silver to be used as currency, however, inch by inch over the decades, this country has backed away from this important restraint. Our money today has no link whatsoever to gold or silver. For many reasons, this is extremely dangerous, and has a lot to do with the boom and bust cycles that have resulted in the crisis in which we find ourselves today.
The Fed is now pledging to reveal to the public more about its economic predictions, and calls this greater transparency. This is little more than window-dressing, at best, utterly useless at worst. Many analysts, especially those familiar with the Austrian school of economics, saw the current economic crisis coming years ago when the Federal Reserve was still telling the American people their policies were as good as gold. So while it might be nice to know what fantasy-infused outlook the Fed has on the economy, I am much more interested in what they are doing as a result of their faulty, haphazard interpretation of data. For instance, what arrangements do they have with other foreign central banks? What the Fed does on that front could very well affect or undermine foreign policy, or even contribute to starting a war.
We also need to know the source and destination of funds provided through the Fed’s emergency funding facilities. Information such as this will provide a more accurate and complete picture of the true cost of these endless bailouts and spending packages, and could very likely affect the decisions being made in Congress. But with so much of the Fed’s business cloaked in secrecy, these latest initiatives will not even scratch the surface of the Fed’s opaque operations. People are demanding answers and explanations for our economic malaise, and we should settle for nothing less than the whole truth on monetary policy.
The first step is to pass legislation I will soon introduce requiring an audit of the Federal Reserve so we can at least get an accurate picture of what is happening with our money. If this audit reveals what I suspect, and Congress has finally had enough, they can also pass my legislation to abolish the Federal Reserve and put control of the economy’s lifeblood, the currency, back where it Constitutionally belongs. If Congress refuses to do these two things, the very least they could do is repeal legal tender laws and allow people to choose a different currency in which to operate. If the Fed refuses to open its books to an audit, and Congress refuses to demand this, the people should not be subject to the whims of this secretive and incompetent organization.
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
On Transparency of the Fed
This week the Federal Reserve responded to the American people’s increased concerns over our monetary policy by presenting new initiatives aimed at enhancing the Fed’s transparency and accountability. As someone who has called for more openness from the Fed for over 30 years, I was pleased to see the Fed acknowledge the legitimacy of this need.
The Federal Reserve controls the flow of money and credit in our economy because Congress has abdicated its responsibility over the nation’s currency. This process therefore occurs centrally, and almost completely outside the system of checks and balances. Because of legal tender laws, people are left with no real choice, except to build their lives and futures around this monopoly currency, vulnerable to powerful central bankers. The Founding Fathers intended only gold and silver to be used as currency, however, inch by inch over the decades, this country has backed away from this important restraint. Our money today has no link whatsoever to gold or silver. For many reasons, this is extremely dangerous, and has a lot to do with the boom and bust cycles that have resulted in the crisis in which we find ourselves today.
The Fed is now pledging to reveal to the public more about its economic predictions, and calls this greater transparency. This is little more than window-dressing, at best, utterly useless at worst. Many analysts, especially those familiar with the Austrian school of economics, saw the current economic crisis coming years ago when the Federal Reserve was still telling the American people their policies were as good as gold. So while it might be nice to know what fantasy-infused outlook the Fed has on the economy, I am much more interested in what they are doing as a result of their faulty, haphazard interpretation of data. For instance, what arrangements do they have with other foreign central banks? What the Fed does on that front could very well affect or undermine foreign policy, or even contribute to starting a war.
We also need to know the source and destination of funds provided through the Fed’s emergency funding facilities. Information such as this will provide a more accurate and complete picture of the true cost of these endless bailouts and spending packages, and could very likely affect the decisions being made in Congress. But with so much of the Fed’s business cloaked in secrecy, these latest initiatives will not even scratch the surface of the Fed’s opaque operations. People are demanding answers and explanations for our economic malaise, and we should settle for nothing less than the whole truth on monetary policy.
The first step is to pass legislation I will soon introduce requiring an audit of the Federal Reserve so we can at least get an accurate picture of what is happening with our money. If this audit reveals what I suspect, and Congress has finally had enough, they can also pass my legislation to abolish the Federal Reserve and put control of the economy’s lifeblood, the currency, back where it Constitutionally belongs. If Congress refuses to do these two things, the very least they could do is repeal legal tender laws and allow people to choose a different currency in which to operate. If the Fed refuses to open its books to an audit, and Congress refuses to demand this, the people should not be subject to the whims of this secretive and incompetent organization.
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Monday, February 23, 2009
HR:833 Federal Reserve Abolition Act Bill: Ron Paul
Rep. Ronald Paul [R-TX](no cosponsors)
Cosponsors [as of 2009-02-14]
Cosponsorship information sometimes is out of date. Why?
Text:
Full Text
Status:
Occurred: Introduced Feb 3, 2009
Occurred: Referred to Committee View Committee Assignments
Not Yet Occurred: Reported by Committee (pending)
Not Yet Occurred: Voted on in House (pending)
Not Yet Occurred: Voted on in Senate (pending)
Not Yet Occurred: Signed by President (pending)
This bill is in the first step in the legislative process. Introduced bills and resolutions first go to committees that deliberate, investigate, and revise them before they go to general debate. The majority of bills and resolutions never make it out of committee. [Last Updated: Feb 14, 2009 3:46PM]
Last Action:
Feb 3, 2009: Referred to the House Committee on Financial Services.
Related:
See the Related Legislation page for other bills related to this one and a list of subject terms that have been applied to this bill. Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned.
Source
Cosponsors [as of 2009-02-14]
Cosponsorship information sometimes is out of date. Why?
Text:
Full Text
Status:
Occurred: Introduced Feb 3, 2009
Occurred: Referred to Committee View Committee Assignments
Not Yet Occurred: Reported by Committee (pending)
Not Yet Occurred: Voted on in House (pending)
Not Yet Occurred: Voted on in Senate (pending)
Not Yet Occurred: Signed by President (pending)
This bill is in the first step in the legislative process. Introduced bills and resolutions first go to committees that deliberate, investigate, and revise them before they go to general debate. The majority of bills and resolutions never make it out of committee. [Last Updated: Feb 14, 2009 3:46PM]
Last Action:
Feb 3, 2009: Referred to the House Committee on Financial Services.
Related:
See the Related Legislation page for other bills related to this one and a list of subject terms that have been applied to this bill. Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned.
Source
Sunday, February 22, 2009
Gold Hits $1000 New High Near
he spot gold price broke through the psychologically important $1,000 level on Friday as global markets fell and investors sought a safe haven.
By Gary White
The price hit $1004.99 an ounce at 12.56pm in New York trading. Earllier in London it had flirted with the $1,000 level, hitting 999.10 an ounce at 2pm in London, before sliding to at $989 later in the session.
Natalie Dempster of the World Gold Council said: “People are fearful of the combined impact of near-zero interest rates, quantitative easing and the fiscal stimulus packages on future inflation. Investors are looking at both the solutions to the problem and the problem itself and realising that both are positive for the price of gold.”
Falling stock markets boosted the appeal of the precious metal as the Dow Jones Industrial Index fell 2.3pc by lunchtime in New York.
In London, the FTSE 100 slid 129.3 - or 3.2pc - to close at 3889.06. The index has fallen 7.2pc this week and and has now fallen 12.3pc since the start of the year.
Germany's DAX fell 4.8pc and France's CAC dipped 4.25pc.
Spot gold hit its all-time high in dollar terms of $1.033.90 in intraday trade on March 17 last year, before falling to around $680 in October.
In a report to clients issued on Friday, Barclays Capital noted that gold was outperforming other asset classes and it could reach new highs later in the year as inflation returned, the oil price moved higher and the dollar started to weaken.
“Precious metals are not only the best performing commodity sector by a substantial margin (all the rest are in negative territory), but also the best performing asset overall, with stocks and property down sharply year-to-date,” it said.
Gold has been in an uptrend since February 2001, when the price was at $254.
The current spike will raise more questions about Gordon Brown’s decision as Chancellor of the Exchequer to sell of more than half of the country’s gold reserves. He sold off 400 tons of bullion in a series of auctions between 1999 and 2002 in a move that some analysts say cost the country more than £2bn.
Source
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Saturday, February 14, 2009
Gold Money Bill Hits the Wall Street Journal!
Judy Sheldon Wall Street Journal Online
Things are starting to heat up. Validation right now is starting to trickle in from the MSM. The patriot movement is beginning to make a big dent in the conciousness of the public and the MSM. That happens over-time when the Truth is expounded continually and loudly via the pens of bloggers. Commonsense is returning to the American people and a return to a Constitutionally based government is sure to follow after the return of the use of Gold as Money. The commercial code the active law of the land today is based on the use of the Federal Reserve debt notes. A Sovereign Republic based on the common law is founded on the use of Gold as money. For the National government to be constitutionally based, it needs to be debt-free. A return to a Sound-based monetary system is the first step towards a Constitutional Republic based on the rule of Law.
Kevin Goldmoneybill.org
Let's go back to the gold standard.
If the very idea seems at odds with what is currently happening in our country -- with Congress preparing to pass a massive economic stimulus bill that will push the fiscal deficit to triple the size of last year's record budget gap -- it's because a gold standard stands in the way of runaway government spending.
[Commentary] Corbis
Under a gold standard, if people think the paper money printed by government is losing value, they have the right to switch to gold. Fiat money -- i.e., currency with no intrinsic worth that government has decreed legal tender -- loses its value when government creates more than can be absorbed by the productive real economy. Too much fiat money results in inflation -- which pools in certain sectors at first, such as housing or financial assets, but ultimately raises prices in general.
Inflation is the enemy of capitalism, chiseling away at the foundation of free markets and the laws of supply and demand. It distorts price signals, making retailers look like profiteers and deceiving workers into thinking their wages have gone up. It pushes families into higher income tax brackets without increasing their real consumption opportunities.
In short, inflation undermines capitalism by destroying the rationale for dedicating a portion of today's earnings to savings. Accumulated savings provide the capital that finances projects that generate higher future returns; it's how an economy grows, how a society reaches higher levels of prosperity. But inflation makes suckers out of savers.
If capitalism is to be preserved, it can't be through the con game of diluting the value of money. People see through such tactics; they recognize the signs of impending inflation. When we see Congress getting ready to pay for 40% of 2009 federal budget expenditures with money created from thin air, there's no getting around it. Our money will lose its capacity to serve as an honest measure, a meaningful unit of account. Our paper currency cannot provide a reliable store of value.
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So we must first establish a sound foundation for capitalism by permitting people to use a form of money they trust. Gold and silver have traditionally served as currencies -- and for good reason. A study by two economists at the Federal Reserve Bank of Minneapolis, Arthur Rolnick and Warren Weber, concluded that gold and silver standards consistently outperform fiat standards. Analyzing data over many decades for a large sample of countries, they found that "every country in our sample experienced a higher rate of inflation in the period during which it was operating under a fiat standard than in the period during which it was operating under a commodity standard."
Given that the driving force of free-market capitalism is competition, it stands to reason that the best way to improve money is through currency competition. Individuals should be able to choose whether they wish to carry out their personal economic transactions using the paper currency offered by the government, or to conduct their affairs using voluntary private contracts linked to payment in gold or silver.
Legal tender laws currently favor government-issued money, putting private contracts in gold or silver at a distinct disadvantage. Contracts denominated in Federal Reserve notes are enforced by the courts, whereas contracts denominated in gold are not. Gold purchases are subject to taxes, both sales and capital gains. And while the Constitution specifies that only commodity standards are lawful -- "No state shall coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts" (Art. I, Sec. 10) -- it is fiat money that enjoys legal tender status and its protections.
Now is the time to challenge the exclusive monopoly of Federal Reserve notes as currency. Buyers and sellers, by mutual consent, should have access to an alternate means for settling accounts; they should be able to do business using a monetary unit of account defined in terms of gold. The existence of parallel currencies operating side-by-side on an equal legal footing would make it clear whether people had more confidence in fiat money or money redeemable in gold. If the gold-based system is preferred, it means that people fully understand that the purpose of money is to facilitate commerce, not to camouflage fiscal mismanagement.
Private gold currencies have served as the medium of exchange throughout history -- long before kings and governments took over the franchise. The initial justification for government involvement in money was to certify the weight and fineness of private gold coins. That rulers found it all too tempting to debase the money and defraud its users testifies more to the corruptive aspects of sovereign authority than to the viability of gold-based money.
Which is why government officials should not now have the last word in determining the monetary measure, especially when they have abused the privilege.
The same values that will help America regain its economic footing and get back on the path to productive growth -- honesty, reliability, accountability -- should be reflected in our money. Economists who promote the government-knows-best approach of Keynesian economics fail to comprehend the damaging consequences of spurring economic activity through a money illusion. Fiscal "stimulus" at the expense of monetary stability may accommodate the principles of the childless British economist who famously quipped, "In the long run, we're all dead." But it shortchanges future generations by saddling them with undeserved debt obligations.
There is also the argument that gold-linked money deprives the government of needed "flexibility" and could lead to falling prices. But contrary to fears of harmful deflation, the big problem is not that nominal prices might go down as production declines, but rather that dollar prices artificially pumped up by government deficit spending merely paper over the real economic situation. When the output of goods grows faster than the stock of money, benign deflation can occur -- it happened from 1880 to 1900 while the U.S. was on a gold standard. But the total price-level decline was 10% stretched over 20 years. Meanwhile, the gross domestic product more than doubled.
At a moment when the world is questioning the virtues of democratic capitalism, our nation should provide global leadership by focusing on the need for monetary integrity. One of the most serious threats to global economic recovery -- aside from inadequate savings -- is protectionism. An important benefit of developing a parallel currency linked to gold is that other countries could likewise permit their own citizens to utilize it. To the extent they did so, a common currency area would be created not subject to the insidious protectionism of sliding exchange rates.
The fiasco of the G-20 meeting in Washington last November -- it was supposed to usher in "the next Bretton Woods" -- suggests that any move toward a new international monetary system based on gold will more likely take place through the grass-roots efforts of Americans. It may already be happening at the state level. Last month, Indiana state Sen. Greg Walker introduced a bill -- "The Indiana Honest Money Act" -- which would, if enacted, allow citizens the option of paying in or receiving back gold, silver or the equivalent electronic receipt as an alternative to Federal Reserve notes for all transactions conducted with the state of Indiana.
It may turn out to be a bellwether. Certainly, it's a sign of a growing feeling in the heartland that we need to go back to sound money. We need money that works for the legitimate producers and consumers of the world -- the savers and borrowers, the entrepreneurs. Not money that works for the chiselers.
Ms. Shelton, an economist, is author of "Money Meltdown: Restoring Order to the Global Currency System" (Free Press, 1994).
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Things are starting to heat up. Validation right now is starting to trickle in from the MSM. The patriot movement is beginning to make a big dent in the conciousness of the public and the MSM. That happens over-time when the Truth is expounded continually and loudly via the pens of bloggers. Commonsense is returning to the American people and a return to a Constitutionally based government is sure to follow after the return of the use of Gold as Money. The commercial code the active law of the land today is based on the use of the Federal Reserve debt notes. A Sovereign Republic based on the common law is founded on the use of Gold as money. For the National government to be constitutionally based, it needs to be debt-free. A return to a Sound-based monetary system is the first step towards a Constitutional Republic based on the rule of Law.
Kevin Goldmoneybill.org
Let's go back to the gold standard.
If the very idea seems at odds with what is currently happening in our country -- with Congress preparing to pass a massive economic stimulus bill that will push the fiscal deficit to triple the size of last year's record budget gap -- it's because a gold standard stands in the way of runaway government spending.
[Commentary] Corbis
Under a gold standard, if people think the paper money printed by government is losing value, they have the right to switch to gold. Fiat money -- i.e., currency with no intrinsic worth that government has decreed legal tender -- loses its value when government creates more than can be absorbed by the productive real economy. Too much fiat money results in inflation -- which pools in certain sectors at first, such as housing or financial assets, but ultimately raises prices in general.
Inflation is the enemy of capitalism, chiseling away at the foundation of free markets and the laws of supply and demand. It distorts price signals, making retailers look like profiteers and deceiving workers into thinking their wages have gone up. It pushes families into higher income tax brackets without increasing their real consumption opportunities.
In short, inflation undermines capitalism by destroying the rationale for dedicating a portion of today's earnings to savings. Accumulated savings provide the capital that finances projects that generate higher future returns; it's how an economy grows, how a society reaches higher levels of prosperity. But inflation makes suckers out of savers.
If capitalism is to be preserved, it can't be through the con game of diluting the value of money. People see through such tactics; they recognize the signs of impending inflation. When we see Congress getting ready to pay for 40% of 2009 federal budget expenditures with money created from thin air, there's no getting around it. Our money will lose its capacity to serve as an honest measure, a meaningful unit of account. Our paper currency cannot provide a reliable store of value.
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So we must first establish a sound foundation for capitalism by permitting people to use a form of money they trust. Gold and silver have traditionally served as currencies -- and for good reason. A study by two economists at the Federal Reserve Bank of Minneapolis, Arthur Rolnick and Warren Weber, concluded that gold and silver standards consistently outperform fiat standards. Analyzing data over many decades for a large sample of countries, they found that "every country in our sample experienced a higher rate of inflation in the period during which it was operating under a fiat standard than in the period during which it was operating under a commodity standard."
Given that the driving force of free-market capitalism is competition, it stands to reason that the best way to improve money is through currency competition. Individuals should be able to choose whether they wish to carry out their personal economic transactions using the paper currency offered by the government, or to conduct their affairs using voluntary private contracts linked to payment in gold or silver.
Legal tender laws currently favor government-issued money, putting private contracts in gold or silver at a distinct disadvantage. Contracts denominated in Federal Reserve notes are enforced by the courts, whereas contracts denominated in gold are not. Gold purchases are subject to taxes, both sales and capital gains. And while the Constitution specifies that only commodity standards are lawful -- "No state shall coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts" (Art. I, Sec. 10) -- it is fiat money that enjoys legal tender status and its protections.
Now is the time to challenge the exclusive monopoly of Federal Reserve notes as currency. Buyers and sellers, by mutual consent, should have access to an alternate means for settling accounts; they should be able to do business using a monetary unit of account defined in terms of gold. The existence of parallel currencies operating side-by-side on an equal legal footing would make it clear whether people had more confidence in fiat money or money redeemable in gold. If the gold-based system is preferred, it means that people fully understand that the purpose of money is to facilitate commerce, not to camouflage fiscal mismanagement.
Private gold currencies have served as the medium of exchange throughout history -- long before kings and governments took over the franchise. The initial justification for government involvement in money was to certify the weight and fineness of private gold coins. That rulers found it all too tempting to debase the money and defraud its users testifies more to the corruptive aspects of sovereign authority than to the viability of gold-based money.
Which is why government officials should not now have the last word in determining the monetary measure, especially when they have abused the privilege.
The same values that will help America regain its economic footing and get back on the path to productive growth -- honesty, reliability, accountability -- should be reflected in our money. Economists who promote the government-knows-best approach of Keynesian economics fail to comprehend the damaging consequences of spurring economic activity through a money illusion. Fiscal "stimulus" at the expense of monetary stability may accommodate the principles of the childless British economist who famously quipped, "In the long run, we're all dead." But it shortchanges future generations by saddling them with undeserved debt obligations.
There is also the argument that gold-linked money deprives the government of needed "flexibility" and could lead to falling prices. But contrary to fears of harmful deflation, the big problem is not that nominal prices might go down as production declines, but rather that dollar prices artificially pumped up by government deficit spending merely paper over the real economic situation. When the output of goods grows faster than the stock of money, benign deflation can occur -- it happened from 1880 to 1900 while the U.S. was on a gold standard. But the total price-level decline was 10% stretched over 20 years. Meanwhile, the gross domestic product more than doubled.
At a moment when the world is questioning the virtues of democratic capitalism, our nation should provide global leadership by focusing on the need for monetary integrity. One of the most serious threats to global economic recovery -- aside from inadequate savings -- is protectionism. An important benefit of developing a parallel currency linked to gold is that other countries could likewise permit their own citizens to utilize it. To the extent they did so, a common currency area would be created not subject to the insidious protectionism of sliding exchange rates.
The fiasco of the G-20 meeting in Washington last November -- it was supposed to usher in "the next Bretton Woods" -- suggests that any move toward a new international monetary system based on gold will more likely take place through the grass-roots efforts of Americans. It may already be happening at the state level. Last month, Indiana state Sen. Greg Walker introduced a bill -- "The Indiana Honest Money Act" -- which would, if enacted, allow citizens the option of paying in or receiving back gold, silver or the equivalent electronic receipt as an alternative to Federal Reserve notes for all transactions conducted with the state of Indiana.
It may turn out to be a bellwether. Certainly, it's a sign of a growing feeling in the heartland that we need to go back to sound money. We need money that works for the legitimate producers and consumers of the world -- the savers and borrowers, the entrepreneurs. Not money that works for the chiselers.
Ms. Shelton, an economist, is author of "Money Meltdown: Restoring Order to the Global Currency System" (Free Press, 1994).
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Thursday, February 12, 2009
Ohio Gold Money Bill under construction
There is a flurry of activity nation-wide regarding the re-institution of Gold backed currency. First in New Hampshire 5 years ago, now there is Indiana, Missouri and now the Ohio honest money bill. The bill in Ohio has not been submitted as of yet.
The Bill
The Ohio Honest Money act enables Ohioans to again use Gold and Silver as a currency, realizing once again the benefits and value of a sound, inflation proof currency. As proposed, gold and silver would be exchanged for fiat currency at their free market ‘bullion’ prices and weights. The basis for value of this ‘new’ currency – silver and gold in specified coinage forms, and by the gram in digital forms, would be free to use as a ‘alternate’ currency to the dollar. The rapidly expanding ‘digital gold’ or ‘electronic money’ industry has been in operation worldwide since 1996.
As well as digital gold, the bill sets standards for acceptably minted coinage for free market deposit, withdrawal and use in business with the State – i.e., krugerands, gold eagles, gold pesos, gold pandas. As a consequence, gold and silver in hand will be more commonplace, exchangeable and available for those who wish to use it.
The bill sets standards for Electronic/Digital Gold Currency providers, and establishes safeguards and guidelines for establishing the worldwide Electronic Currency Exchange industry in Indiana. It also sets standards for species exchange vendors and species vaults. These are the businesses that would exchange sound money for fiat, and store individuals’ deposits to their digital currency accounts. An added unstated benefit is the opportunity for Indiana to be at the forefront of a new industry that is mainly offshore at this time. The opportunities for new businesses and jobs, more specifically, local jobs, is excellent. In all actuality, Ohioans can already use these services privately in their own transactions… the Honest Money Act will simply bring it to a wider audience.
The State acquires and maintains an account of gold and silver through collections of tobacco taxes, and has the option to build a surplus, protecting the State’s financial resources as well from inflation and calamity. The State isn’t required to procure or disburse any more gold or silver than that collected. There is no upfront cost for the State. The added accounting and disbursement costs for the state could be readily recouped from species vendor, vault and exchange licensing.
Provides the ability for direct payment to and from the State for fines, fees, taxes, licenses, land and business transactions in gold or silver coins, or digital gold currency, by setting up an account with one of the same providers that the state uses. Or select payment in hard coinage of gold or silver via a species exchange.
Is optional for citizens, and other than collection of Tobacco related State revenue (licenses, stamps, taxes); participation is voluntary. Federal Reserve Notes continue to function as ‘legal tender’. The Ohio Honest Money Act works in parallel with the Federal Reserve Notes, competing with it.
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
The Bill
The Ohio Honest Money act enables Ohioans to again use Gold and Silver as a currency, realizing once again the benefits and value of a sound, inflation proof currency. As proposed, gold and silver would be exchanged for fiat currency at their free market ‘bullion’ prices and weights. The basis for value of this ‘new’ currency – silver and gold in specified coinage forms, and by the gram in digital forms, would be free to use as a ‘alternate’ currency to the dollar. The rapidly expanding ‘digital gold’ or ‘electronic money’ industry has been in operation worldwide since 1996.
As well as digital gold, the bill sets standards for acceptably minted coinage for free market deposit, withdrawal and use in business with the State – i.e., krugerands, gold eagles, gold pesos, gold pandas. As a consequence, gold and silver in hand will be more commonplace, exchangeable and available for those who wish to use it.
The bill sets standards for Electronic/Digital Gold Currency providers, and establishes safeguards and guidelines for establishing the worldwide Electronic Currency Exchange industry in Indiana. It also sets standards for species exchange vendors and species vaults. These are the businesses that would exchange sound money for fiat, and store individuals’ deposits to their digital currency accounts. An added unstated benefit is the opportunity for Indiana to be at the forefront of a new industry that is mainly offshore at this time. The opportunities for new businesses and jobs, more specifically, local jobs, is excellent. In all actuality, Ohioans can already use these services privately in their own transactions… the Honest Money Act will simply bring it to a wider audience.
The State acquires and maintains an account of gold and silver through collections of tobacco taxes, and has the option to build a surplus, protecting the State’s financial resources as well from inflation and calamity. The State isn’t required to procure or disburse any more gold or silver than that collected. There is no upfront cost for the State. The added accounting and disbursement costs for the state could be readily recouped from species vendor, vault and exchange licensing.
Provides the ability for direct payment to and from the State for fines, fees, taxes, licenses, land and business transactions in gold or silver coins, or digital gold currency, by setting up an account with one of the same providers that the state uses. Or select payment in hard coinage of gold or silver via a species exchange.
Is optional for citizens, and other than collection of Tobacco related State revenue (licenses, stamps, taxes); participation is voluntary. Federal Reserve Notes continue to function as ‘legal tender’. The Ohio Honest Money Act works in parallel with the Federal Reserve Notes, competing with it.
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
Tuesday, February 3, 2009
CAFR FUNDS: ARE THE STATES BROKE OR IS THIS A CON JOB?
By: Devvy
February 3, 2009
© 2008 - NewsWithViews.com
"It's very possible you'll see the end of the United States as we know it. If the Fed doesn't bailout the States when their cash dries up and the banks don't loan them money, then our States will be left in financial ruin. This would be a tragic and unprecedented event never experienced in the United States."
An all too familiar refrain. California is getting the highest visibility. A state run by a nit wit governor who has continued to rubber stamp the mass fleecing of taxpayers year after year by the Democrat controlled state legislature. Barack Hussein Obama aka Barry Soetoro aka and so forth, is claiming that Republican governors are begging for the gang rape "economic stimulus package." Actually, governors of both parties want their share of the booty, some $176 BILLION dollars that doesn't exist:
Minnesota Gov. Tim Pawlenty, who is widely viewed as a potential presidential contender in 2012, said governors have little choice but to accept the relief being offered. "States have to balance their budgets," he said. "So if we're going to go down this path, we are entitled to ask for our share of the money.".....
Where is this $176 BILLION dollars supposed to come from? Not the people's treasury. It's now over drawn $10.6 TRILLION dollars with the interest compounding faster than a speeding bullet and another $72 TRILLION DOLLARS in debt for programs like social security, Medicare the these endless "wars" against terrorism.
Are all these governors stupid? Have they never heard of the 'national debt'? Where do they think this "money" will come from? This worthless fiat currency will have to be borrowed by CON-gress from the "FED." They will create more debt to reward state legislatures for incompetence and they want you, me, our children and grand children to hand over every penny we make to fund this lunacy. It will turn into nothing more than another massive "income" tax hike through the back door.
But, are the states really broke?
At least ten years ago, a man named Walter Burien began exposing something called a CAFR: Comprehensive Annual Financial Report. Walter managed to get on a SF radio show hosted by my friend, Geoff Metcalf. It was a real eye opener. Try as we all did, not one newspaper in the State of California would expose the truth of how the taxpayers were being fleeced. Nor would 99% of the radio stations statewide. I guess they all love being flogged every April 15th to reward the thieves in the state house.
I've written about this issue before and perhaps now, with the states crying poor, the citizens of the 50 states will do what I did years ago: I went to the Comptroller's Office in downtown Sacramento and got a copy of the CAFR. Oh, they didn't want to give it to me, but I whipped out my press credentials and after some muss and fuss, I obtained a copy. I am not an accountant so a lot of that tome was foreign to me. However, thanks to Walter and Gerald Klatt, even someone like me can understand this complicated shell game:
What is the Comprehensive Annual Financial Report (CAFR)?
By Gerald R. Klatt
"Each year all State and local governments prepare a financial report on assets, liabilities, revenues and expenditures in more or less a standardized format that must conform to the Government Accounting Standards Board (GASB) accounting and financial reporting standards. This financial report is called the Comprehensive Annual Financial Report (CAFR, pronounced "cay-fer"). Most people have heard of the budget, which is the document that plans and authorizes the spending of money. The CAFR describes what actually was spent and the status of assets and liabilities at the end of the fiscal year."
This is Walter's attempt last month to get the intellectually lazy fools at the LA Times to do their job for a change:
Evan Halper and Patrick McGreevy
Staff reporters - LA Times
Evan and Patrick:
Per your article: California controller to suspend tax refunds, welfare checks, student grants. "John Chiang announces that his office will suspend $3.7 billion in payments owed to Californians starting Feb. 1, because with no budget in place the state lacks sufficient cash to pay its bills."
Advertisement
"You say short on CASH, stopping payments in the CA Budget accounting? Well now then, let's take a look at the squirreled away investment, self insurance, and advance liability cash equivalent accounts, and many enterprise operations have as can be examined in the California State and "other" CA local government's Annual Financial Reports known as the CAFR (Comprehensive Annual Financial Report) to see a true standing of CA Government wealth held and growth of these, what can be called nothing other than; "for profit government incorporated entities:"
"Some examples of CAFR reports are as follows:
California Government Category Listings
California local Government CAFRs
"As a guide for you, here is a potential surplus review conducted of just "exclusively" for CA State government Inc., conducted in 2004 by Gerald Klatt, a retired Federal Auditor of 30 years that you can use as a guide for a 2009 CAFR review of just CA State Government - and then you can take a look at the some 4,500 other local government AFR's or CAFR's which in composite totals will dwarf the state totals...
"I have sent a CC copy of this communication to Governor Schwarzengger's office for his review also.
"And let us not forget to look and see how much investment wealth local CA governments have standing in a few of the CA government employee "strictly participatory" (employee buys a ticket to ride from point "A" to point "B" on the train but do not own one piece thereof, the local government owns the train), actuarial inflated retirement system wealth accumulation. Are they faring better than the private sector? It appears most definitely yes, and by far...
"What are the trillions of dollars in totals? It is way up there for total CA Government wealth held! Now do the math..... Problem you say? Yes, for the peoples of CA but not so as it appears for the local Governments of California. Learn the "Shell Game" played at your expense."
California: Alameda County Employees' Retirement System, California Public Employees' Retirement System, California State Teachers' Retirement System,
CalPERS 457 Public Agency Deferred Compensation Program
CalPERS Investments and CAFR report: Contra Costa County Employees’ Ret. Assoc., Judges' Retirement System I, Judges' Retirement System II, Legislators' Retirement System, Los Angeles City Employees’ Retirement System, Los Angeles County Employees' Retirement Assoc., Marin County Employees’ Retirement Association, Merced County Employees’ Ret. Association, Office of the President, University of California, Orange County Employees' Retirement System, Part-time, Seasonal or Temporary Employee (PST) Retirement Plan, Sacramento County Employees' Ret. System, San Bernardino County Employees’ Retirement Association, San Diego County Employees Retirement Association, San Francisco Employees' Retirement System, San Joaquin County Employees’ Retirement Association, San Mateo County Employees’ Retirement Association, Savings Plus Program, Sonoma County Employees’ Retirement Association, Stanislaus County Employees’ Retirement Association, State Peace Officers’ and Firefighters’ Defined Contribution Program, Tulare County Employees’ Retirement Association
Ventura County Employees’ Retirement Association
You can type in the system for any of the above, i.e., California State Teachers Retirement System into a search engine. When it comes up, hit 2008 CAFR released. Then you can see the numbers.
Now, go read this pdf file from a representative in the Oregon State Legislature. This will give you a good idea of how a state legislature enters into contractual agreements that are unrealistic and cannot be met decades down the road. Notice what Rep. Richardson says: Once the special interest groups got wind that the legislature was going to live within its means and fund priority expenditures necessary, they mobilized and ganged up on their state rep and senator. "Gimmee, gimmee!" Rep. Richardson is serving his constituency well with his reports and the people of Oregon need to support him and get in the face of their representative.
You see, it's the same old merry-go-round. The real issue is taxes. If the American people were allowed to keep the fruits of their labor, they wouldn't need to continue demanding more and more from mother government, state or federal. There's nothing wrong with retirement systems as long as there is money to pay for them when the time comes for the draw outs. Not only have these states mismanaged their budgets and forecasts, what about the monstrous drain on the states from illegal aliens? In California, the state legislature and many mayors like Antonio Villaraigosa coddle and protect these criminals:
$11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments.
Among the largest costs are Medicaid ($2.5 billion); treatment for the uninsured ($2.2 billion); food assistance programs such as food stamps, WIC, and free school lunches ($1.9 billion); the federal prison and court systems ($1.6 billion); and federal aid to schools ($1.4 billion).
$90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the American taxpayers.
$12 Billion dollars a year is spent on primary and secondary school education for children here illegally robbing American children within the states of a real education because resources are sucked up to reward breaking our immigration laws. How about this: ''The Dark Side of Illegal Immigration: Nearly One million sex crimes Committed by Illegal Immigrants In The United States .' The cost of incarcerating these animals in state jails and prisons is astronomical. Instead of the states standing up and saying NO to the federal machine and asserting their sovereignty, they simply fleece your wallet. Instead of deporting these millions of illegal aliens (they are NOT immigrants), state legislatures and these governors roll out the red carpet and hand you the huge "pay up" on April 15th.
Mr. Klatt's report back in 2003 shows California had a surplus of $59.83 BILLION dollars. They continued to tax the hell out of the taxpayer. Now, faced with a $40 BILLION dollar "shortfall," they want to tax every breath taken by a California citizen. How much is your state hiding? Click here to see how to become part of exposing this shell game. I'm telling you if people don't get active and hold these legislatures accountable, we're all going to end up in rags while supporting grotesque spending and a free ride for illegal aliens.
Colorado has just introduced an honest money bill. This is picking up steam. YOU must become part of staying in the face of your state rep and senator to get the bill passed. Same as Indiana. See here for the master web site on these bills.
I am going out of the state in a couple of days on business and to see my 82-year old mommy. While I'm gone, I won't have a column until around Feb. 23, 2009. I hope you'll book mark this column and take the time to follow up on these links and the videos listed below. Please take the time on the weekend or when you can, to either read or listen to the truth about taxation and the debt:
1 - Why an income tax is not necessary to fund the federal government - Text or audio
2 - The right argument on taxes
3 - Watch this video (free): state income tax tied to federal
I hope you'll listen to my radio show, Solutions Not Politics. Alan Stang will guest host for me, February 5, 2009. Patrick Briley will be my guest, Feb. 9, 10 and 11th. You don't want to miss those shows. Monday-Friday. 6:00 pm PST, 8:00 pm CST and 9:00 pm EST. Listen live:
Feel free to call in and ask questions or vent!
1 - MUST watch video: The Biggest Game in Town by Walter Burien
2 - Google fudging numbers on Biggest Game Video
3 - Lawsuit Challenging Hillary Clinton Appointment on Behalf of State Department Foreign Service
1 - Statement about USA Tomorrow newspaper
1 - Did YOU buy Made in America today?
Stop the hemmoraging of OUR jobs and stop the money from going to foreign countries
February 3, 2009
© 2008 - NewsWithViews.com
"It's very possible you'll see the end of the United States as we know it. If the Fed doesn't bailout the States when their cash dries up and the banks don't loan them money, then our States will be left in financial ruin. This would be a tragic and unprecedented event never experienced in the United States."
An all too familiar refrain. California is getting the highest visibility. A state run by a nit wit governor who has continued to rubber stamp the mass fleecing of taxpayers year after year by the Democrat controlled state legislature. Barack Hussein Obama aka Barry Soetoro aka and so forth, is claiming that Republican governors are begging for the gang rape "economic stimulus package." Actually, governors of both parties want their share of the booty, some $176 BILLION dollars that doesn't exist:
Minnesota Gov. Tim Pawlenty, who is widely viewed as a potential presidential contender in 2012, said governors have little choice but to accept the relief being offered. "States have to balance their budgets," he said. "So if we're going to go down this path, we are entitled to ask for our share of the money.".....
Where is this $176 BILLION dollars supposed to come from? Not the people's treasury. It's now over drawn $10.6 TRILLION dollars with the interest compounding faster than a speeding bullet and another $72 TRILLION DOLLARS in debt for programs like social security, Medicare the these endless "wars" against terrorism.
Are all these governors stupid? Have they never heard of the 'national debt'? Where do they think this "money" will come from? This worthless fiat currency will have to be borrowed by CON-gress from the "FED." They will create more debt to reward state legislatures for incompetence and they want you, me, our children and grand children to hand over every penny we make to fund this lunacy. It will turn into nothing more than another massive "income" tax hike through the back door.
But, are the states really broke?
At least ten years ago, a man named Walter Burien began exposing something called a CAFR: Comprehensive Annual Financial Report. Walter managed to get on a SF radio show hosted by my friend, Geoff Metcalf. It was a real eye opener. Try as we all did, not one newspaper in the State of California would expose the truth of how the taxpayers were being fleeced. Nor would 99% of the radio stations statewide. I guess they all love being flogged every April 15th to reward the thieves in the state house.
I've written about this issue before and perhaps now, with the states crying poor, the citizens of the 50 states will do what I did years ago: I went to the Comptroller's Office in downtown Sacramento and got a copy of the CAFR. Oh, they didn't want to give it to me, but I whipped out my press credentials and after some muss and fuss, I obtained a copy. I am not an accountant so a lot of that tome was foreign to me. However, thanks to Walter and Gerald Klatt, even someone like me can understand this complicated shell game:
What is the Comprehensive Annual Financial Report (CAFR)?
By Gerald R. Klatt
"Each year all State and local governments prepare a financial report on assets, liabilities, revenues and expenditures in more or less a standardized format that must conform to the Government Accounting Standards Board (GASB) accounting and financial reporting standards. This financial report is called the Comprehensive Annual Financial Report (CAFR, pronounced "cay-fer"). Most people have heard of the budget, which is the document that plans and authorizes the spending of money. The CAFR describes what actually was spent and the status of assets and liabilities at the end of the fiscal year."
This is Walter's attempt last month to get the intellectually lazy fools at the LA Times to do their job for a change:
Evan Halper and Patrick McGreevy
Staff reporters - LA Times
Evan and Patrick:
Per your article: California controller to suspend tax refunds, welfare checks, student grants. "John Chiang announces that his office will suspend $3.7 billion in payments owed to Californians starting Feb. 1, because with no budget in place the state lacks sufficient cash to pay its bills."
Advertisement
"You say short on CASH, stopping payments in the CA Budget accounting? Well now then, let's take a look at the squirreled away investment, self insurance, and advance liability cash equivalent accounts, and many enterprise operations have as can be examined in the California State and "other" CA local government's Annual Financial Reports known as the CAFR (Comprehensive Annual Financial Report) to see a true standing of CA Government wealth held and growth of these, what can be called nothing other than; "for profit government incorporated entities:"
"Some examples of CAFR reports are as follows:
California Government Category Listings
California local Government CAFRs
"As a guide for you, here is a potential surplus review conducted of just "exclusively" for CA State government Inc., conducted in 2004 by Gerald Klatt, a retired Federal Auditor of 30 years that you can use as a guide for a 2009 CAFR review of just CA State Government - and then you can take a look at the some 4,500 other local government AFR's or CAFR's which in composite totals will dwarf the state totals...
"I have sent a CC copy of this communication to Governor Schwarzengger's office for his review also.
"And let us not forget to look and see how much investment wealth local CA governments have standing in a few of the CA government employee "strictly participatory" (employee buys a ticket to ride from point "A" to point "B" on the train but do not own one piece thereof, the local government owns the train), actuarial inflated retirement system wealth accumulation. Are they faring better than the private sector? It appears most definitely yes, and by far...
"What are the trillions of dollars in totals? It is way up there for total CA Government wealth held! Now do the math..... Problem you say? Yes, for the peoples of CA but not so as it appears for the local Governments of California. Learn the "Shell Game" played at your expense."
California: Alameda County Employees' Retirement System, California Public Employees' Retirement System, California State Teachers' Retirement System,
CalPERS 457 Public Agency Deferred Compensation Program
CalPERS Investments and CAFR report: Contra Costa County Employees’ Ret. Assoc., Judges' Retirement System I, Judges' Retirement System II, Legislators' Retirement System, Los Angeles City Employees’ Retirement System, Los Angeles County Employees' Retirement Assoc., Marin County Employees’ Retirement Association, Merced County Employees’ Ret. Association, Office of the President, University of California, Orange County Employees' Retirement System, Part-time, Seasonal or Temporary Employee (PST) Retirement Plan, Sacramento County Employees' Ret. System, San Bernardino County Employees’ Retirement Association, San Diego County Employees Retirement Association, San Francisco Employees' Retirement System, San Joaquin County Employees’ Retirement Association, San Mateo County Employees’ Retirement Association, Savings Plus Program, Sonoma County Employees’ Retirement Association, Stanislaus County Employees’ Retirement Association, State Peace Officers’ and Firefighters’ Defined Contribution Program, Tulare County Employees’ Retirement Association
Ventura County Employees’ Retirement Association
You can type in the system for any of the above, i.e., California State Teachers Retirement System into a search engine. When it comes up, hit 2008 CAFR released. Then you can see the numbers.
Now, go read this pdf file from a representative in the Oregon State Legislature. This will give you a good idea of how a state legislature enters into contractual agreements that are unrealistic and cannot be met decades down the road. Notice what Rep. Richardson says: Once the special interest groups got wind that the legislature was going to live within its means and fund priority expenditures necessary, they mobilized and ganged up on their state rep and senator. "Gimmee, gimmee!" Rep. Richardson is serving his constituency well with his reports and the people of Oregon need to support him and get in the face of their representative.
You see, it's the same old merry-go-round. The real issue is taxes. If the American people were allowed to keep the fruits of their labor, they wouldn't need to continue demanding more and more from mother government, state or federal. There's nothing wrong with retirement systems as long as there is money to pay for them when the time comes for the draw outs. Not only have these states mismanaged their budgets and forecasts, what about the monstrous drain on the states from illegal aliens? In California, the state legislature and many mayors like Antonio Villaraigosa coddle and protect these criminals:
$11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments.
Among the largest costs are Medicaid ($2.5 billion); treatment for the uninsured ($2.2 billion); food assistance programs such as food stamps, WIC, and free school lunches ($1.9 billion); the federal prison and court systems ($1.6 billion); and federal aid to schools ($1.4 billion).
$90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the American taxpayers.
$12 Billion dollars a year is spent on primary and secondary school education for children here illegally robbing American children within the states of a real education because resources are sucked up to reward breaking our immigration laws. How about this: ''The Dark Side of Illegal Immigration: Nearly One million sex crimes Committed by Illegal Immigrants In The United States .' The cost of incarcerating these animals in state jails and prisons is astronomical. Instead of the states standing up and saying NO to the federal machine and asserting their sovereignty, they simply fleece your wallet. Instead of deporting these millions of illegal aliens (they are NOT immigrants), state legislatures and these governors roll out the red carpet and hand you the huge "pay up" on April 15th.
Mr. Klatt's report back in 2003 shows California had a surplus of $59.83 BILLION dollars. They continued to tax the hell out of the taxpayer. Now, faced with a $40 BILLION dollar "shortfall," they want to tax every breath taken by a California citizen. How much is your state hiding? Click here to see how to become part of exposing this shell game. I'm telling you if people don't get active and hold these legislatures accountable, we're all going to end up in rags while supporting grotesque spending and a free ride for illegal aliens.
Colorado has just introduced an honest money bill. This is picking up steam. YOU must become part of staying in the face of your state rep and senator to get the bill passed. Same as Indiana. See here for the master web site on these bills.
I am going out of the state in a couple of days on business and to see my 82-year old mommy. While I'm gone, I won't have a column until around Feb. 23, 2009. I hope you'll book mark this column and take the time to follow up on these links and the videos listed below. Please take the time on the weekend or when you can, to either read or listen to the truth about taxation and the debt:
1 - Why an income tax is not necessary to fund the federal government - Text or audio
2 - The right argument on taxes
3 - Watch this video (free): state income tax tied to federal
I hope you'll listen to my radio show, Solutions Not Politics. Alan Stang will guest host for me, February 5, 2009. Patrick Briley will be my guest, Feb. 9, 10 and 11th. You don't want to miss those shows. Monday-Friday. 6:00 pm PST, 8:00 pm CST and 9:00 pm EST. Listen live:
Feel free to call in and ask questions or vent!
1 - MUST watch video: The Biggest Game in Town by Walter Burien
2 - Google fudging numbers on Biggest Game Video
3 - Lawsuit Challenging Hillary Clinton Appointment on Behalf of State Department Foreign Service
1 - Statement about USA Tomorrow newspaper
1 - Did YOU buy Made in America today?
Stop the hemmoraging of OUR jobs and stop the money from going to foreign countries
More on the Indiana Honest Money Bill Video
One of these days we will have a breakthough and a Sound money bill will pass. In the meantime to facilitate the transfer of wealth to the people, buy Silver now!
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
Indiana Gold Money Bill! Video
There is a movement brewing to return to the Gold Standard and a Constitutional Government. First there was the New Hampshire Gold Currency bill, then Ron Paul running for president and now the Indiana honest money bill.
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
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