Fed Chairman Begs Congress To Stimulate Beleaguered Economy

By Mike Gleason – Re-Blogged From Gold Eagle

Precious metals investors faced choppy market seas this week. Gold bobbed to a slight decline while silver essentially treaded water through Thursday’s close. Both are advancing strongly today.

Metals markets are being overshadowed by equities markets. The S&P 500 broke out to a 5-week high on Thursday. The rally comes on a rising tide of Federal Reserve liquidity coupled with on again, off again hopes for a stimulus deal in Washington.

More stimulus is definitely coming. The only question is how many trillions and whether they get dished out before or after the election.

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No Stimulus Bill This Month

By John Rubino – Re-Blogged From Dollar Collapse

Less than 24 hours after beating the apparently wimpiest case of covid-19 ever, Donald Trump decided that his subjects’ lives aren’t exciting enough. So he called off Congressional talks on the latest stimulus bill.

Never a dull moment in pre-apocalypse America.

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New Sound Money Caucus Launched On Capitol Hill

By JP Cortez – Re-Blogged From Gold Eagle

As the federal government continues to bailout the economy and markets by creating trillions of unbacked pieces of paper and electronic digits, a handful of Congressmen hope to shine a new spotlight on the devastating effects of this runaway financial profligacy.

Congressman Warren Davidson (R-OH) recently announced the creation of the Congressional Sound Money Caucus. According to Congressman Davidson’s office, the caucus exists to promote sound fiscal and monetary policy in the United States with the goal of preserving the purchasing power of the U.S. Federal Reserve Note.

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US In Long-term Economic Decline

By David Haggith – Re-Blogged From Gold Eagle

Measured by the common man, we’re on the road to ruin. The US has been in decline for decades, but you can’t see that by looking at stocks. You can’t tell it from those who lie about the economy to make their living, but look at long-term real numbers, and you see an empire in decline that just got its wobbly legs kicked out by COVID-19.

The clamor of false profits

Listen to the kinds of false narratives being spun to claim the economy is largely recovering. Call it the relentless and unrealistic belief in a V-shaped recovery narrative or whatever you want to call it, but the nonsense is still flourishing, though not the economy.

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How The Fed Gets Away With Ripping Off Ordinary Americans

By Clint Siegner – Re-Blogged From Gold Eagle

The Federal Reserve has printed trillions of dollars without generating runaway price inflation through the use of a neat trick.

The privately owned bank cartel shovels the bulk of the money to Wall Street banks and not to the public at large. Instead of millions of Americans rushing out to bid up prices on consumer goods, a relative handful of bankers is using the free money to bid up asset prices and then pay themselves huge performance bonuses.

Democrat Congressional Committee Demands Google Bury “Climate Misinformation”

By Eric Worrall – Re-Blogged From WUWT

The U.S. House of Representatives Select Committee on the Climate Crisis has demanded Google demonetize climate skeptics, and provide education to millions of people who have been exposed to “dangerous misinformation”.

If the letter is not readable on your device, the original link is available here.

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Congress Says Nay to Expanding EV Tax Credits

By – Re-Blogged From The Truth About Cars

year-end tax package. Automakers were hoping that would include an extension of electric vehicle tax credits, but it was a doomed proposition.

An extension was initially included in the bipartisan Driving America Forward Act, which manifested this spring, before being incorporated into the Democrat-friendly GREEN Act (Growing Renewable Energy and Efficiency Now). That got it through the House but not the Republican-controlled Senate, which wasn’t interested.

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California, NY Poised to Lose House Seats

REUTERS/Carlo Allegri/File Photo

For the first time since it became a state, California could lose a seat in the House of Representatives, according to a new 2019 population estimate released by the Census Bureau.

On Monday, the Census Bureau population estimates found that the national population growth slowed in 2019. It also found that California, New York, and some 25 other states lost residents through domestic migration in 2019.

As a result, California is poised to lose a House seat for the first time since it became a state in 1850. The population data also found that California experienced its slowest population growth since 1900.

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Congress Close to Passing Anti-Robocall Legislation

Re-Blogged From Liberty Headlines

Laws seek to take on ‘call-spoofing’ scourge and empower authorities to go after spammers…

(Associated Press) It’s looking like an anti-robocall bill will get sent to President Donald Trump this year, helping tackle an infuriating problem in the U.S.

House and Senate leaders said Friday they’ve reached an agreement in principle on merging their two versions of bills against robocalls.

Details about what’s in the final bill are still to come, but legislators say it will require phone companies to verify that phone numbers are real, and to block calls for free. It will also give government agencies more ability to go after scammers.

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Exposing the Mass Extinction Lie

By Gregory Wrightstone via Fabius Maximus – Re-Blogged From WUWT

One million species will become extinct in the not-too-distant future and we are to blame. That is the conclusion of a new study by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES). The Summary for Policymakers (SPM) was issued on May 6th {the full report will be issued “later this year} and warns that “human actions threaten more species with global extinction now than ever before” and that “around 1 million species already face extinction, many within decades, unless action is taken to reduce the intensity of drivers of biodiversity loss.”

It also asserted that we have seen increasing dangers over the last several decades, stating “the threat of extinction is also accelerating: in the best-studied taxonomic groups, most of the total extinction risk to species is estimated to have arisen in the past 40 years.” The global rate of species extinction claimed “is already tens to hundreds of times higher than it has been, on average, over the last 10 million years.”

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The Deutch Energy Tax

By Willis Eschenbach – Re-Blogged From WUWT

At the suggestion of a commenter on my last post, I’m taking a look at a very destructive and pointless piece of proposed legislation. This is the “Energy Innovation and Carbon Dividend Act“, which is subtitled “The Market-Based Climate Solution”. It’s proposed by Reps. Deutch (D), Rooney (R), Delaney (D), Fitzpatrick (R), and Crist (D).

The text of the proposed legislation is here, and the Press Release is here. 

Their plan, from above:

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If Dems win the House, ‘Climate Committee’ will Return

By Mike Bastasch – Re-Blogged From WUWT

Should Democrats win control of the House this election, House Minority Leader Nancy Pelosi will ask her caucus to create a select committee on climate change similar to the now-defunct panel behind the failed effort to pass cap-and-trade legislation.

Pelosi said the committee would “‘prepare the way with evidence’ for energy conservation and other climate change mitigation legislation,” she told The New York Times in an interview released Wednesday.

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Groups Want End to Subsidy of Electric Cars That Only Benefit the Rich

By Michael Barnes – Re-Blogged From Liberty Headlines

A coalition of 30 free market policy groups has delivered a clear message to Congress: Don’t expand the $7,500 federal tax credit for purchasers of electric vehicles, the vast majority of which are extremely wealthy.

On its face, the electric vehicle subsidy is “misguided as a whole,” coalition signatories said in a Wednesday letter to Rep. Kevin Brady, chairman of the powerful House Ways and Means Committee.

‘Americans can make their own decisions about how to spend their money and what cars they want to drive…’

30 Free Market Groups Urge Congress Not to Expand Electric Vehicle Subsidies 1

IMAGE: mmurphy (CC) via Pixabay

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Plan to Split California into 3 states Will Be on November Ballot

By LA Times – Re-Blogged From Liberty Headlines

[Californians could split the state into multiple parts if they choose – separately, Congress would need to OK it for Congressional/Senate and Electoral College representation to change. -Bob]

It would be the first division of an existing U.S. state since the creation of West Virginia in 1863…

(John Myers, Los Angeles Times) SACRAMENTO, Calif. — California’s 168-year run as a single entity, hugging the continent’s edge for hundreds of miles and sprawling east across mountains and desert, could come to an end next year — as a controversial plan to split the Golden State into three new jurisdictions qualified Tuesday for the Nov. 6 ballot.

If a majority of voters who cast ballots agree, a long and contentious process would begin for three separate states to take the place of California, with one primarily centered around Los Angeles and the other two divvying up the counties to the north and south. Completion of the radical plan — far from certain, given its many hurdles at judicial, state and federal levels — would make history.

It would be the first division of an existing U.S. state since the creation of West Virginia in 1863.

“Three states will get us better infrastructure, better education and lower taxes,” Tim Draper, the Silicon Valley venture capitalist who sponsored the ballot measure, said in an e-mail to the Los Angeles Times last summer when he formally submitted the proposal. “States will be more accountable to us and can cooperate and compete for citizens.”

In the initiative’s introductory passage, Draper argues that “vast parts of California are poorly served by a representative government dominated by a large number of elected representatives from a small part of our state, both geographically and economically.”

The proposal aims to invoke Article IV, Section 3 of the U.S. Constitution, the provision guiding how an existing state can be divided into new states. Draper’s plan calls for three new entities — Northern California, California and Southern California — which would roughly divide the population of the existing state into thirds.

Northern California would consist of 40 counties stretching from Oregon south to Santa Cruz County, then east to Merced and Mariposa counties. Southern California would begin with Madera County in the Central Valley and then wind its way along the existing state’s eastern and southern spine, comprising 12 counties and ultimately curving up the Pacific coast to grab San Diego and Orange counties.

Los Angeles County would anchor the six counties that retained the name California under the longshot proposal, a state that would extend northward along the coast to Monterey County. Draper’s campaign web site argues the three states would have reasonably similar household incomes and enough industries to produce their own viable economies.

It was that issue — economic sustainability — that helped fell two of Draper’s previous efforts in 2012 and 2014, to create six California states. Critics said some of the more rural regions would suffer from extraordinary rates of poverty as individual states, while coastal communities flourished in new, smaller states where the lion’s share of California tax revenue is generated.

Last September, he submitted the modified version that he calls “Cal-3.” On Tuesday, elections officials said a sample of the signatures projects more than 402,468 of them are valid — more than enough to be included on a November ballot that could see as many as 16 propositions by the deadline for certification later this month.

The cost of Draper’s 2018 effort is still unclear. While he spent almost $4.9 million of his own money on the unsuccessful signature drive in 2014, state records through last December report only about $559,000. That was before petition circulating intensified this past spring; vendors were told in March they would be paid $3 per signature — higher than many of the other proposals found on card tables set up outside stores and other public areas.

A publicized effort by activists to have California secede from the United States, branded the “Calexit” proposal, continues to be bandied about for the ballot in 2020.

Nothing about Draper’s historic demarcation of democracy would be easy. Were voters to approve his ballot measure, the effort would need the blessing of both houses of the California Legislature — lawmakers who, in a sense, would be asked to abandon their posts. Draper’s proposal says the initiative, acting under California’s constitutional power of voters to write their own laws, would serve as legislative consent. It is almost certain that interpretation would end up in court.

From there, the plan would need congressional approval. Here, too, politics would presumably play a major role.

Where California now has two seats in the 100-person U.S. Senate, the three states would have six seats in a 104-member chamber. That would dilute the power of other states and increase the power of what used to be a single state if its six senators banded together on various issues.

Presidential politics also could doom the proposal once it reached Washington. Vikram Amar, a law professor who has written extensively about Draper’s plans, pointed out last fall that the shift in California’s votes in the Electoral College — which have been awarded for a quarter-century to Democratic nominees — would be split between three states. And one of those states, based on past election results, could be won by a Republican.

Amar wrote that Democrats would be “very reluctant to run the risk” of supporting the proposal in Congress. “And risk aversion looms large in these matters, which helps explain why no new states have been added to the United States in over 50 years, and no new state has been created out of an existing state for more than 150 years,” he wrote.

There also is a sizable debate about whether such a sweeping change can be created through a ballot initiative — that is, whether it rises to the level of a “revision” of the California Constitution, which can only be instigated by the Legislature or by a formal constitutional convention. Revisions, Amar wrote in 2017, are generally seen by the courts as the most substantial kinds of changes to a government.

“What is of greater importance to a state than its geographic boundaries?” Amar wrote. “As the national debate about a wall along the Mexican border rages, we are reminded that even in a digital age, physical space and physical lines matter immensely to the course of peoples’ lives, and the legal regimes under which they live.”

A nascent opposition campaign already is sounding the more practical alarms about splitting California into three states. It could easily be bankrolled by some of the state’s most powerful forces, especially those that are aligned with Democratic leaders.

“This measure would cost taxpayers billions of dollars to pay for the massive transactional costs of breaking up the state, whether it be universities, parks, or retirement systems,” said Steven Maviglio, a Democratic political strategist representing opponents to the effort. “California government can do a better job addressing the real issues facing the state, but this measure is a massive distraction that will cause political chaos and greater inequality.”

Critics have long wondered how citizens of a state where the majority of water supplies exist in one region would react if negotiations over new interstate compacts to share the resource turned contentious. College students who live in cities like Fresno may balk at being charged out-of-state tuition at University of California, Los Angeles. A San Diego company with an office in San Francisco could find itself facing two corporate tax structures and workplace regulations that a northern state might impose differently than one in the south.

Draper’s fascination with splitting California into separate states has been his only real foray into state politics, though he served briefly on the state Board of Education for one year in 1998. The 60-year old entrepreneur, who is registered as an unaffiliated voter, often is identified as an early adopter of “viral marketing” in the 1990s and was an early investor in technology companies like Skype and Hotmail. Recently, Draper has been an outspoken advocate for cryptocurrencies like Bitcoin.

At an Amsterdam technology conference in April, the investor’s praise of Bitcoin included some of the same messages he’s used in support of splitting California into multiple pieces — namely, that residents will be free to move to whichever version of the state they think is governed best.

“The governments will have to compete for us now,” Draper told the crowd. “Because if we don’t like one, we can now bust out.”

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The Bill of Rights is Missing an Amendment

By The Common Constitutionalist – Re-Blogged From iPatriot

One of greater problems that plague our federal government is that of cross-delegation. What do I mean by this?

I describe this phenomenon as such, owing to the fact that three branches of government are no longer “separate but equal.” As we see by the take-over of government by the federal judiciary, they are clearly the most powerful of the three. The other two branches, the legislative and executive, take to bended knee before them, and as blind mutes, comply with any and every decree. This was clearly not intended by the founders.

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Trump Budget Director Mocks Congress Bureau He Heads Up: “It’s Not Accountable To You… The Public… Or Anyone”

By Onan Coca – Re-Blogged From Freedom Outpost

In a most ironic twist,  President Trump’s Budget Director and the Director of the Consumer Financial Protection Bureau (CFPB), Mick Mulvaney is now heading a bureau that he used to decry with regularity.

In fact, Mulvaney is still pointing out the many different problems with the bureau even as he attempts to lead it in a productive direction.

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CAIR Demands Trump Stand Down on Census Citizenship Question – Calls It ‘White Supremacist’ Move

By Pamela Geller – Re-Blogged From Freedom Outpost

The Council on American-Islamic Relations has demanded President Donald Trump rethink his decision to include a citizenship question on the census.

Why?

It’s white supremacist to ask that question, CAIR accused.

Actually, the question was regularly asked decades ago. The left is fighting it because of the political repercussions that could come.

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The Rule of Law; Article 1, Section 8; and Slavery

By Hillsdale College – Re-Blogged From http://blog.hillsdale.edu/online-courses

Transcript:
HUGH HEWITT: And for the Hillsdale Dialogue with Dr. Larry Arnn, President of Hillsdale College. All things Hillsdale are located at hillsdale.edu. All of our conversations dating back to 2013– I was going to say 1813, but that would date us– are collected at hughforhillsdale.com. You can sign up for the free speech digests that Hillsdale College makes available by going to hillsdale.edu. Find Imprimis and give me your email, your mailing address, your snail mail address. It is absolutely free. It is a wonderful addition to your reading material.
Capital-Building.jpg

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Virginia Republican Stuns Democrats With Barnburner Speech for Second Amendment

By  – Re-Blogged From Independent Journal Review

A Virginia lawmaker challenging Sen. Tim Kaine (D-Va.) stunned Democrats last week with a barnburner speech on the Second Amendment.

In a Friday address, Virginia Delegate Nick Freitas (R) called for an “open and honest debate” on what might lead to mass shootings, suggesting many attackers — like the one who opened fire at Marjory Stoneman Douglas High School in Parkland, Florida, in February — come from “broken homes.”

(Please view the video at this link. -Bob)

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Congressional Apportionment and Illegal Aliens

   By Bob Shapiro

It’s 2018, which means that in just 2 years, the US will take its next Census.

One estimate (see below) shows that there are over 11 million ‘unauthorized immigrants’ – illegal aliens – living in the US. As wacky as it may sound, all those illegal aliens will be counted and used to determine Congressional apportionment. The more illegal aliens, the more Congressional seats a state can win.

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GOP Tax Plan Increases the Most Insidious Tax

By Ron Paul – Re-Blogged From Ron Paul Institute

Last Thursday, congressional Republicans unveiled their tax reform legislation. On the same day, President Trump nominated current Federal Reserve Board Governor Jerome Powell to succeed Janet Yellen as Federal Reserve chair. While the tax plan dominated the headlines, the Powell appointment will have much greater long-term impact. Federal Reserve policies affect every aspect of the economy, including whether the Republican tax plan will produce long-term economic growth.

President Obama made history by appointing the first female Fed chair. President Trump is also making history: If confirmed, Powell would be the first former investment banker to serve as chairman of the Federal Reserve. Powell’s background suggests he will continue Janet Yellen’s Wall Street-friendly low interest rates and easy money policies.

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Stock and Awe, Bears in Bondage

By David Haggith – Re-Blogged From The Great Recession Blog

The Trump Rally pushed ahead relentlessly through a summer full of high omens and great disasters, all which it swatted off like flies. Even so, all was not perfect in the market as nerves began to jitter midsummer beneath the surface even among the most longtime bulls. Wall Street’s fear gauge (the CBOE Volatility Index) lifted its needle off its lower post to a nine-month high after President Trump’s comments about “fire and fury” if North Korea didn’t toe the line. (Mind you, the high wasn’t very far off the post because of how placid the previous nine months had been.)

As volatility stirred languidly over the threat of nuclear war, stock prices took a little spill with all major stock indices seeing their biggest one-day drop since May. The SPX fall amounted to a 1.4% drop in a day — nothing damaging. The Dow dropped about 1% in a day. But beneath the surface, the market is looking different and shakier.

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D.C. Dysfunction and Central Bank Chaos

By Michael Pento – Re-Blogged From Pento Portfolio Strategies

On September 5th, the members of both houses of Congress of the United States cleaned the beach sand from between their toes and returned to work. Our public servants who occupy The House of Representatives have been working on their respective tans since July 29th. The Senate has had a little less time in the sun; they held their final vote on August 3rd despite their pledge to stay until August 11th.

Hopefully, they got a lot of rest, because they have a lot to do upon their return. By the end of September Congress will need to pass a budget bill to avoid a government shutdown. Expect Tea Party Republicans to hold their ground on spending cuts while Trump petitions for his wall. According to recent tweets, Trump is pushing for this fight and welcomes a government shutdown. Get out the popcorn this could get interesting.

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Raising The Debt Ceiling Means Jacking Up Future Inflation

By Stefan Gleason – Re-Blogged From http://www.Gold-Eagle.com

The dramatic failure of the US Senate’s last-ditch Obamacare repeal effort leaves Republicans so far without a major legislative win since Donald Trump took office. No healthcare reform. No tax reform. No monetary reform. No budgetary reform.

The more things change in Washington…the more they stay the same.

Despite an unconventional outsider in the White House, it’s business as usual for entrenched incumbents of both parties. The next major order of business for the bipartisan establishment is to raise the debt ceiling above $20 trillion.

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Congress Could Give Trump The Power To Immediately Repeal The ‘Waters Of The US’ Rule

By Michael Bastasch – Re-Blogged From The Daily Caller

The long-anticipated battle to repeal the Obama administration’s contentious “waters of the United States” (WOTUS) rule may be cut short if the Senate passes the House’s “minibus” spending bill.

The Senate will soon reconcile their budget bill with a nearly $790 billion spending bill passed by the House on Thursday. The bulk of the bill has to do with defense spending, but one small provision would allow the Trump administration to immediately withdraw WOTUS without having to go through the formal public comment process.

The appropriations bill says the administration “may withdraw the Waters of the United States rule without regard to any provision of statute or regulation that establishes a requirement for such withdrawal.”

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If You’re Going to get Sick – Better do it Before Single Payer

By The Common Constituionalist – Re-Blogged From http://www.iPatriot.com

On his radio program  Monday evening, Mark Levin was discussing the ghastly way the Republican Party has treated us regarding the whole healthcare debacle. Mark said, “It’s amazing to me that a man can remain the Majority Leader, McConnell, when the man controlling the Senate, for all intents and purposes, is Chuck Schumer.”

Levin said, “we thought Republicans would repeal ObamaCare – we thought that would be a no-brainer.”

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Congressman Doesn’t Want Illegals to Count for Electoral College, House Districts

By Brendan Clarey – Re-Blogged From Liberty Headlines

Amidst the focus on the Senate’s version of Obamacare “repeal and reform,” Rep. Warren Davidson (R-OH) introduced legislation Wednesday that would change the look of electoral maps and Congressional representation by recognizing only American citizens.

Currently electoral maps define “persons” as meaning citizens, noncitizens and aliens. Davidson’s bill would only count citizens for representation in the Electoral College and for Congressional redistricting and apportionment purposes.

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David Stockman Sounds The Alarm

By Daniel Lang – Re-Blogged From Zero Hedge

As time goes on, it’s becoming abundantly clear that Trump isn’t going to be able to prevent a major financial crisis in this country. Depending on your beliefs, that’s either because he’s inept in some way, or because he’s being hamstrung by a political system that’s determined to keep our nation on the same unsustainable path. Whatever the case may be, it seems that there is no way that we can change course at this point. We’re headed for a financial crisis, and it’s going to happen sooner rather than later.

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Will Trump Audit the Fed or Side With the bankers?

By John Livingston – Re-Blogged From https://garydemar.com

President Trump is very close to fulfilling one of his campaign promises. If he does, it will be an historical victory for the average American citizen…

The Federal Reserve is officially in control of the nation’s gold supply. So, the big question is this: is all the gold still actually there, like the Fed’s books insist that it is?

The more important question is not whether the gold is there, necessarily, but whether other entities have claims against it. Sure, the gold may be in the vault. But it is supposed to all be legally owned by the Fed. The question is whether any funny business has been going on behind the Fed’s veil of secrecy. Has it lent out its gold to private companies to make a profit on it (called gold leasing), without registering these transactions in its books?

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Professor Michael Mann Destroys the Case for Action on Climate Change

By Larry Kummer – From the Fabius Maximus website.

Summary: The House Science committee heard from three climate scientists. The testimony of the activist, Michael Mann, destroyed the case for strong public policy action to fight climate change. He deserves attention. Sadly, the attention has been on the least important parts of his testimony.

“It is extremely likely (95 – 100% certain) that human activities caused more than half of the observed increase in global mean surface temperature from 1951 to 2010.”
— From the “Summary for Policy-Makers” of the IPCC’s AR5 Working Group I. Unfortunately, there is no consensus about the timing and magnitude of future warming.

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House Committee on Science, Space & Technology.

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Scientists vs Charlatans

[A Congressional Committee met to discuss The Scientific Method. The following is part of an essay reviewing the testimony. – Bob]

By Leo Goldstein – Re-Blogged From http://www.WattsUpWithThat.com

…. There are at least two obstacles that prevent Republican statesmen from understanding that climate alarmism is completely wrong on natural sciences.

The big obstacle: managing bodies of the NAS, formerly respected academic societies, and foreign national academies adopted statements that either outright support or do not contradict climatist pseudo-science. This is an important fact. Of course, there are two causes for that: internal corruption that has been happening over decades and pressure from the Obama administration and its counterparts in other Western countries. Democrat Congresspersons might congratulate themselves for their contribution to shutting up opposition views. But it is hard to convince Republicans that this happened in front of their eyes and under the watch of many of them.

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Stop Using National Credit Cards! Just Pay Our Bills!

By http://www.BizarroWorldUSA.com – Re-Blogged From iPatriot

For just shy of eight years now the United States has been economically hindered by the distorted interpretation of economist John Maynard Keynes’ twentieth century economic theory.

Application of Keynesian economics extended the Great Depression longer than necessary as it has for the recent recession.

Classic economic theory suggests that world and national economies experience rises and falls. Periods of stagnation can be moderated with reasoned spending and by controlling variable expenses. Keynesian economic theory, on the other hand, advocates that increased government spending in times of downturn spurs the economy resulting in shorter downswings. The flawed theory doesn’t work in a personal or household situation and it most certainly doesn’t work for individual states or nations. In fact, the larger the entity and economic platform the more in-congruent the premise becomes.

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Using Silver Dollars – Part II

cropped-bob-shapiro.jpg   By Bob Shapiro

Liberty Eagle Silver Dollars are Dollars. They are US Legal Tender Money – Congress says so. But, Americans don’t use them as money because, until now, there has been no mechanism to facilitate it.

I previously wrote detailing a simple Exchange facility along with Accounts where individuals and businesses could store and use these Silver Dollars. Today, I’d like to explain my suggestion which would allow businesses to Invoice their sales using Liberty Eagle Silver Dollars.

First, a little background. Manufacturers sell their products in several ways, including selling to a wholesaler, to a retailer, or to the ultimate consumer. Many will sell only through one method, while others will use multiple chains of distribution.

In one interesting way, a company may use a direct sales staff to market its products, will take orders and arrange delivery from its own warehouses, but has all the billing and payments handled by a number of separate distributors/wholesalers. These frequently are smaller companies selling a product with a technological edge.  The business needs a technical staff to make the sales, but it doesn’t want to use up its resources handling a lot of billing, so it in effect hires wholesalers to do this.

The company actually sells its products to the wholesaler, who then sells them to the consumer. To the consumer, this chain of activity is all but invisible, as the invoice merely tells the consumer who to pay and where to send the check. The wholesaler doesn’t physically touch the product, but once it’s shipped, the wholesaler owns it until they are paid by the consumer.

This system is in use today for Paper Dollars. Let’s see how this can be adapted to facilitate the use of Silver Dollars.

There are two money transactions going on here. First, the ultimate customer is billed and pays the wholesaler. Then the wholesaler aggregates its sales for the manufacturer and pays for the products.

The two transactions may both be denominated in Paper Dollars, as in the current all Paper Dollar system, but that’s not required. It’s also possible for the consumer to be billed and pay in Paper Dollars, while the wholesaler is billed and pays in Silver Dollars.

Silver Eagle Coin

As an example, Company A, the manufacturer, markets and takes an order from a Customer. The order includes an invoice from Company B, the wholesaler, in Paper Dollars – $1000. The consumer pays Company B, which alerts Company A of the payment receipt. Company A then issues an invoice to Company B, denominated in Silver Dollars using the Exchange mechanism.

Assuming the Exchange Rate is $1 Silver for $20 Paper, Company B deposits/transfers the Silver Dollar amount ($1000 / 20 = $50) into Company A’s Account.

So, why would a business choose to use Silver Dollars rather than Paper Dollars? The answer lies in the favorable tax treatment which Silver Dollars receive from the IRS.

Remember, Congress says that both Paper Dollars and Silver Dollars are Dollars, even though Paper and Silver Dollars have different purchasing powers.

Consider a manufacturer with $10 Million in sales. The current sale, if it all were in Paper Dollars, would be $1000, but in Silver Dollars, it is only $50, reducing the annual sales to $9,999,050.

If the cost of doing business comes to $9 Million, the company would pay taxes on $1 Million in the all Paper world, but would pay taxes on $999, 050 in the Silver world.

 

                  Paper              Silver

                  ———              ———

Sales     $10 Million     $9,999,050

Costs     $ 9 Million     $ 9 Million

Profit    $ 1 Million      $ 999,050

Taxes    $ 250,000        $ 249,762.50

(eg 25% Tax Rate)

 

Though the purchasing powers of the sales are the same, there was $237.50 (Paper) more kept by the business using Silver Dollars for this sale. With sales using this method on $1 Million ($50,000 Silver), almost all the tax liability would be removed, raising the Bottom Line Profit Value by about 25%.

This business would have more capital available to expand its business, hire more workers, and improve its product. The three Natural Constituencies of all businesses benefit:

  • Customers get more, better products at lower prices
  • Employees get more jobs at better pay
  • Shareholders earn more and own a growing company 

We’ll see in later articles how businesses (and individuals) can use the Silver Dollars for everyday commerce (Bill Pay). And, we’ll discuss other Cambi Money Services modules including: Payroll, Point of Sale, Investments, and Money Management.

Stock Buy Backs Are Nay Votes

cropped-bob-shapiro.jpg   By Bob Shapiro

Stock prices change minute to minute based on investor perceptions and emotion. Investors compare the current price with current – and expected – earnings.

Over the longer term, it is earnings which will determine the trend of a stock’s price history. You would (correctly) expect that if Company A’s earnings rose by 25% a year for 10 years, while earnings for Company B fell by 25% a year, that the price of Company A stock would have gone up dramatically, while the stock of Company B would have fallen drastically.

One metric that investors use to compare the stock of different businesses is the PE Ratio – a simple division of the Price by the Earnings per Share (usually for the last 12 months). As optimistic investors put more money into a particular stock, the price goes up, and with it the PE Ratio also goes up.

Optimism implies that investors expect the future prospects for a business to be good. If business really is going to be good, you would expect the managers to try to put more capital to work. The business can get this capital in several ways.

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Weekly Climate and Energy News Roundup #211

The Week That Was: December 26, 2015 – Brought to You by www.SEPP.org

THIS WEEK: By Ken Haapala, President, Science and Environmental Policy Project

COP-21 – Smoke and Mirrors: The Conference of Parties (COP-21) of the United Nations’ Framework Convention on Climate Change (UNFCCC) ended with significant changes to the earlier, to be agreed upon, agreement with the changes in a few small words. As Paul Homewood recognized the word “shall” was changed to “should” in the paragraph “Developed country Parties shall should continue taking the lead by undertaking economy-wide absolute emission reduction targets. Homewood suspected that the US delegates (probably under instructions from the White House) demanded the change. The issue was making the carbon dioxide (CO2) emissions reduction of the document legally binding. Making emissions reductions legally binding on the US would require Senate approval while the term “should” is not legally binding. President Obama has not consulted with Congress on the “Nationally Determined Contributions.” Contrary to the name, these contributions were decided by the administration, not nationally, and making them legally binding would require approval of two-thirds of the Senate present. The Administration’s game-playing faced harsh reality.

According to an article by Nitin Sethi, of the Business Standard out of India, the US Administration did not shoulder the burden of the harsh reality, but placed the burden on delegates from the European Union. The article opens with:

“If there was one overarching imprint on the Paris climate change negotiations, it was of the diplomatic heft that the US enjoys. The last hours of the talks, when the US was faced with the challenge of removing a phrase it didn’t like in the final agreement, it was left to the European Union to walk across the aisle to convince everyone to not oppose the changes the US demanded. The European Union, once hailed as the climate change leader of the world, was canvassing the developing country bloc to accept an agreement that was discordantly against its own non-negotiable position wanting a strict legally-binding protocol and not a loosely-bound agreement that the Paris outcome eventually became.

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Mark Steyn rebukes democrats in climate hearing: ‘You’re effectively enforcing a state ideology’

Re-Blogged From http://www.WattsUpWithThat.com

This is a must watch, share it widely. Mark Steyn demolishes the “science is settled” meme in the Senate hearing yesterday. His ability to argue effectively on the fly is very impressive.

Another Dud Highway Bill from the House

By Michael Sargent – Re-Blogged From http://www.heritage.org/

Today the House Transportation and Infrastructure committee will mark-up their “long-term” highway bill, the Surface Transportation Reauthorization and Reform (STRR) Act, with only a week left before the deadline.

Spanning six years, STRR is the House’s response to the big-spending DRIVE Act that passed in the Senate at the end of July, just before Congress decided on a short-term, $8 billion patch instead.

Those who expected the “reform” part of STRR to be the emphasis will not find much to like in the legislation. STRR is another status-quo bailout that perpetuates the chronic overspending and misallocation of resources spent out of the Highway Trust Fund. The bill, which totals $325 billion in spending, keeps current funding levels in place (adjusted for inflation) while completely disregarding the annual deficit of about $15 billion expected over the next six years.

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Tea Party Drinking Too Much Decaf

By Michael Pento – Re-Blogged From http://www.Silver-Phoenix500.com

On December 16th, 1773 the Sons of Liberty in Boston, in protest of the Tea Act, destroyed an entire shipment of tea sent by the East India Company, in a political protest referred to as the Boston Tea Party.

Following the Wall Street bail-outs in 2009, a political movement also protesting their lack of representation in government sought a reduction of the U.S. national debt and deficits by reducing government spending and lowering taxes. They were referred to as The Tea Party, named from the aforementioned Boston variety.

Since then, supporters of the Tea Party have had a major impact on the internal politics of Republicans and have helped secure both houses of congress. But these representatives who were elected to bring fiscal discipline to Washington have failed to deliver on their promises.

A year before The Great Recession the Federal deficit was $162 billion, it peaked in 2009 at $1.45 trillion and this year came in at $439 billion, and is projected to increase significantly after 2018. All this overspend has driven our national debt to over $18 trillion dollars, which is already north of 100% of the Gross Domestic Product.

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Audit the Fed: Is the Momentum Dying?

By Stefan Gleason – Re-Blogged From The Sound Money Defense League

The Federal Reserve is perhaps the most powerful “public” institution about which the public knows virtually nothing.

The origins and operations of the central bank are mysteries to most people, including most politicians. Top Fed officials and their allies aim to keep it that way by defeating Audit the Fed legislation now pending in the U.S. Senate.

Back in 2010, the Audit the Fed campaign started gaining real traction in Congress. What had been for many years a lonely battle for transparency waged by former Rep. Ron Paul (R-TX) finally reached a critical mass of support. Congressman Paul’s signature Federal Reserve Transparency Act seemed to stand a real chance of passing.

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Climate Crisis, Inc. Has Become a $1.5 Trillion Industry

By Paul Driessen – Re-Blogged From http://www.CFACT.org

No warming in 18 years, no category 3-5 hurricane hitting the USA in ten years, seas rising at barely six inches a century: computer models and hysteria are consistently contradicted by Real World experiences.

So how do White House, EPA, UN, EU, Big Green, Big Wind, liberal media, and even Google, GE and Defense Department officials justify their fixation on climate change as the greatest crisis facing humanity? How do they excuse saying government must control our energy system, our economy and nearly every aspect of our lives – deciding which jobs will be protected and which ones destroyed, even who will live and who will die – in the name of saving the planet? What drives their intense ideology?

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Plan to Save the Highway Trust Fund Falls Short

By Michael Sargent – Re-Blogged From www.heritage.orgg

Last week, the House passed an $8-billion bailout of the Highway Trust Fund using gimmicky offsets and tax increases to finance new highway and transit spending through mid-December.

Not to be outdone, the Senate released its 1,030-page, six-year highway deal, including $48 billion in offsets that make even more extensive use of tax increases and budget tricks.

The kicker is that these measures will pay for only the first three years of the bill, leaving the final three years of spending to be funded down the road or appended to deficits.

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The Climate Wars Go to Congress

Patrick J. Michaels testifies before the Committee of Natural Resources at the hearing “An Analysis of the Obama Administration’s Social Cost of Carbon”

Climatologist Dr. Pat Michaels writes:
In his introductory remarks, Congressman Lowenthal (D-NY) went on the usual these-witnesses-are-climate-deniers rant.  As I was the next speaker, I re-wrote my oral testimony to point out, in three spots, that people who did not recognize the low-sensitivity papers, or the huge disparity between the mid-tropospheric observed and modeled data, or the low sensitivity in the multiauthored Otto study (15 of the authors were lead  authors in the last IPCC report), were in fact “science deniers”.

Judging from his reaction at the end of the hearing, it really got to him.

See the 3+ minute video here. It’s well worth the view!

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Ten Thousand Commandments 2015

By Clyde Wayne Crews – Re-Blogged From the Competitive Enterprise Institute

Ten Thousand Commandments is the Competitive Enterprise Institute’s annual survey of the size, scope and cost of federal regulations, and how they affect American consumers, businesses, and the U.S. economy. Authored by CEI Vice President for Policy Clyde Wayne Crews Jr., it shines a light on the large, growing “hidden tax” of America’s regulatory state.

The scope of federal government spending, deficits and the national debt is staggering, but so is the impact of federal regulations, which now exceeds half the amount the federal government spends annually. Unfortunately, regulations get too little attention in policy debates because, unlike taxes, they are unbudgeted. They are also difficult to quantify because their effects are often indirect.

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End Energy Regulation

By Peter Van Doren – Re-Blogged From http://www.downsizinggovernment.org

Large-scale federal intervention into America’s energy markets began in the 1930s and continued through the 1970s. A series of major laws and executive actions sought to control energy prices, regulate electric and gas utilities, and limit imports. Competition was stifled and domestic investment was suppressed.

By the 1970s, the Middle East oil embargoes and other upheavals began making the failure of federal energy interventions clear to policymakers. They reversed course, and took major deregulatory steps in the 1970s and 1980s to free up energy markets, to the ultimate benefit of consumers and the overall economy.

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Financial System Will Collapse Just a Matter of When-Laurence Kotlikoff

By Greg Hunter – Re-Blogged From http://www.usawatchdog.com

Renowned economist Laurence Kotlikoff recently testified at the U.S. Senate about the runaway U.S. budget.  How bad is it?  Kotlikoff says, “I told them the real (2014) deficit was $5 trillion, not the $500 billion or $300 billion or whatever it was announced to be this year.  Almost all the liabilities of the government are being kept off the books by bogus accounting. . . . The government is 58% underfinanced . . . . Social Security is 33% underfinanced . . . . So, the entire government enterprise is in worse fiscal shape than Social Security is, but they are both in terrible shape.”  So, how much is America on the hook for in the future?  Kotlikoff contends, “If you take all the expenditures that the government is expected to make, as projected by the Congressional Budget Office (CBO), all the spending on defense, repairing the roads, paying for the Supreme Court Justices’ salaries, Social Security, Medicare, Medicaid, welfare, everything and take all those expenditures into the future . . . and compare that to all the taxes that are projected to come in, and the difference is $210 trillion.  That’s the fiscal gap.  That’s our true debt.”

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The Countermand Amendment

cropped-bob-shapiro.jpg   By Bob Shapiro

I have been aware of several calls for Constitutional Amendments (including my own for a Dollar Limit on Federal Spending). Some of these call for a Constitutional Convention, while others merely ask for Congress to limit its own powers.

I just came across a new one (new for me), which makes a lot of sense, although I’d like some time to consider possible unintended consequences. The proposed Amendment is called the “Countermand Amendment.”

Simply put, it would allow 60% of State Legislatures (currently 30 States) to vote to countermand any law, regulation, tax, agency ruling, judicial decision, treaty. These 30 States could render the offending law (etc) to be null and void.

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Should the Federal Reserve be free of supervision while it carries out vast monetary experiments?

 

The “Audit the Fed” proposal of Senator Rand Paul (R-Ky.) elicits a surprising amount of emotion, from opponents and supporters alike. Why should this be?

“Monetary policy” purposefully sounds technical and dull—you like it that way if you want to keep it the domain of supposedly objective experts who don’t want any mere politicians interfering in their elite central banking club. But money affects everybody and is an emotional topic, especially if the Fed is on purpose crushing you, as it currently is doing to savers, in order to benefit borrowers and speculators.

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Government vs Standard of Living

cropped-bob-shapiro.jpg   By Bob Shapiro

Back in the days of the American Revolution, there was a Scottish economist by the name of Adam Smith, who wrote a book called The Wealth of Nations. In this classic, Smith uses the Pig Cycle to help explain why economies go through ups and downs, commonly referred to business cycles.

Pig farmers raise pigs to make a profit. Not just a profit, but the best profit available through the several choices they can invest in. If the

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