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.
Thursday, February 12, 2009
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.
Friday, January 30, 2009
Putin Calls for the End of the Fed's Printing Press
Well, he didn't say it in so many words, but you can read between the lines. Vladimir Putin the spitting image of the Old Russian Czars is challenging the banking cartel of the Federal Reserve to release their stranglehold on the world economy. Is this perhaps the death of the New World Order and their plan for Global governance?
"The one reserve currency has become a danger to the world economy: that is now obvious to everybody," he said in a speech at the World Economic Forum.
It is the first time that a Russian leader has set foot in the sanctum sanctorum of global capitalism at Davos.
Mr Putin said the leading powers should ensure an "irreversible" move towards a system of multiple reserve currencies, questioning the "reliability" of the US dollar as a safe store of value. "The pride of Wall Street investment banks don't exist any more," he said.
For all his bluster, Mr Putin's bargaining power is weakening by the day. Russia's foreign reserves have fallen by 34pc since August to $396bn (£277bn) after months of capital flight and the collapse in the price of Urals crude oil to $45 a barrel. The rouble also fell to a record low yesterday after sliding for weeks in a controlled devaluation.
Mr Putin said: "We are witnessing a truly global crisis. The speed of developments beats every record, and the strategic difference from the Great Depression is that under globalisation this touches everyone. This has multiplied the destructive force. It looks exactly like the perfect storm."
The Soviet Union avoided depression in the 1930s due to its totally closed autarkic system, although the regime inflicted other terrible hardships.
However, Mr Putin's own government in Russia is facing mass protest as unemployment surges and austerity measures start to bite.
The Kremlin expects the Russian economy to contract by 0.2pc this year. Expecting a deep global downturn, it has redrafted its budget plans based on oil prices at $41 this year, entailing drastic cuts in public spending.
Cont'@ 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.
"The one reserve currency has become a danger to the world economy: that is now obvious to everybody," he said in a speech at the World Economic Forum.
It is the first time that a Russian leader has set foot in the sanctum sanctorum of global capitalism at Davos.
Mr Putin said the leading powers should ensure an "irreversible" move towards a system of multiple reserve currencies, questioning the "reliability" of the US dollar as a safe store of value. "The pride of Wall Street investment banks don't exist any more," he said.
For all his bluster, Mr Putin's bargaining power is weakening by the day. Russia's foreign reserves have fallen by 34pc since August to $396bn (£277bn) after months of capital flight and the collapse in the price of Urals crude oil to $45 a barrel. The rouble also fell to a record low yesterday after sliding for weeks in a controlled devaluation.
Mr Putin said: "We are witnessing a truly global crisis. The speed of developments beats every record, and the strategic difference from the Great Depression is that under globalisation this touches everyone. This has multiplied the destructive force. It looks exactly like the perfect storm."
The Soviet Union avoided depression in the 1930s due to its totally closed autarkic system, although the regime inflicted other terrible hardships.
However, Mr Putin's own government in Russia is facing mass protest as unemployment surges and austerity measures start to bite.
The Kremlin expects the Russian economy to contract by 0.2pc this year. Expecting a deep global downturn, it has redrafted its budget plans based on oil prices at $41 this year, entailing drastic cuts in public spending.
Cont'@ 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, January 13, 2009
Peter Schiff Predicts Eminent Financial Doom
Peter Schiff is a famous wall street trader who happens to be a big advocate of Gold and perhaps Sound Money.
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.
Saturday, January 10, 2009
Government Off-Shore Managed Funds Hiding Profits
I still can wrap my mind around what Walter Burien is talking about. His basic premise is that the Government is hiding Trillions of dollars that are not apart of the budget reports for public consumption, but are apart of something known as the CAFR. The Complete Accounting Financial Report.
The following New York Times article shines light on government investment with a focus on Bond derivative transactions within local government.
I have brought forward many a times that: "ENRON promoted their profit and hid their debt and Government does the exact opposite, they promote their debt and hide their profit."
The bond derivative activity became very slap happy in its rollovers leading to a massive bubble which caused a debt with many local governments on their books.
The important issue is the exclusion of their very profitable transaction coming from other investments such as within the Crude Oil, Pharmaceutical, Insurance, Brokerage, Precious Metals, and Banking market manipulations.
As exemplified in this New York Times article copied below, the payola and ease of transacting the same is just as, if not more lucrative in the other areas I have mentioned above.
Additionally, it is VERY important to note that Government in the 80's "OFF SHORED" into several massive fund management groups where their transaction were now virtually invisible to the American Public and outside of SEC and CFTC scrutiny and direct oversight. A complete audit of these government off-shore management funds needs to be conducted URGENTLY to qualify the net results of the market manipulations seen since September 11th 2001.
If these off-shore funds have been grabbing massive profits on one hand as domestic US managed funds were getting depleted on the other hand whereby the domestic losses are now being promoted to steal money from the people of the USA while at the same time the profits on the off-shore management funds are not being disclosed, this amounts to the greatest rape of the American economy and its people in the last hundred years. It is also the biggest example of a shell game ever played..
People are to easily played by sound bites from the media as to the run up and then collapse of the stock, crude oil, and interest rate markets. They are intentionally propagandized to with only one side of the coin: Loss, debt, need by government to take more cash out of the public's pockets and my do they have their routines down pack clicking like a fined tuned Swiss Watch.
The public has been conditioned to be oblivious to, with an intentional vacuum created in their thinking from masterfully engineered soundbites having the purpose of creating a void in thinking or distraction, due to the money involved of: Who took from the other side of the coin all of the trillions of dollars of wealth from these market manipulations. Your own government and their corporate cooperatives did folks being that you were such an easy mark for the taking, control, and management as you were masterfully entertained..
I reiterate, a complete audit of these government off-shore management funds needs to be conducted URGENTLY to qualify the net results of the market manipulations seen since September 11th 2001.
Source
Sent FYI from,
Walter Burien
P. O. Box 2112
Saint Johns, Arizona 85936
http://CAFR1.com
The following New York Times article shines light on government investment with a focus on Bond derivative transactions within local government.
I have brought forward many a times that: "ENRON promoted their profit and hid their debt and Government does the exact opposite, they promote their debt and hide their profit."
The bond derivative activity became very slap happy in its rollovers leading to a massive bubble which caused a debt with many local governments on their books.
The important issue is the exclusion of their very profitable transaction coming from other investments such as within the Crude Oil, Pharmaceutical, Insurance, Brokerage, Precious Metals, and Banking market manipulations.
As exemplified in this New York Times article copied below, the payola and ease of transacting the same is just as, if not more lucrative in the other areas I have mentioned above.
Additionally, it is VERY important to note that Government in the 80's "OFF SHORED" into several massive fund management groups where their transaction were now virtually invisible to the American Public and outside of SEC and CFTC scrutiny and direct oversight. A complete audit of these government off-shore management funds needs to be conducted URGENTLY to qualify the net results of the market manipulations seen since September 11th 2001.
If these off-shore funds have been grabbing massive profits on one hand as domestic US managed funds were getting depleted on the other hand whereby the domestic losses are now being promoted to steal money from the people of the USA while at the same time the profits on the off-shore management funds are not being disclosed, this amounts to the greatest rape of the American economy and its people in the last hundred years. It is also the biggest example of a shell game ever played..
People are to easily played by sound bites from the media as to the run up and then collapse of the stock, crude oil, and interest rate markets. They are intentionally propagandized to with only one side of the coin: Loss, debt, need by government to take more cash out of the public's pockets and my do they have their routines down pack clicking like a fined tuned Swiss Watch.
The public has been conditioned to be oblivious to, with an intentional vacuum created in their thinking from masterfully engineered soundbites having the purpose of creating a void in thinking or distraction, due to the money involved of: Who took from the other side of the coin all of the trillions of dollars of wealth from these market manipulations. Your own government and their corporate cooperatives did folks being that you were such an easy mark for the taking, control, and management as you were masterfully entertained..
I reiterate, a complete audit of these government off-shore management funds needs to be conducted URGENTLY to qualify the net results of the market manipulations seen since September 11th 2001.
Source
Sent FYI from,
Walter Burien
P. O. Box 2112
Saint Johns, Arizona 85936
http://CAFR1.com
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