Category Archives: Money

The road to demonetization: Learning to say, ‘Enough!’

Even people who are not demonetarists, people who have not heard of it or who cannot conceive of a world without money, can act in today’s capitalist and market socialist societies in ways that reflect the values that a successfully demonetized society needs. Continue reading

Hidden taxation

Inflation is, in fact, nothing more than taxation of everyone at a rate not announced by the government but estimated by its citizens. This inflationary process of printing money out of nothing and then using it to pay debts is camouflaged by calling it monetizing the debt. [1]. It is illegal for individuals to do it. Continue reading

Is Homeland Security preparing for the next Wall Street collapse?

Reports are that the Department of Homeland Security (DHS) is engaged in a massive, covert military buildup. An article in the Associated Press in February confirmed an open purchase order by DHS for 1.6 billion rounds of ammunition. According to an op-ed in Forbes, that’s enough to sustain an Iraq-sized war for over twenty years. DHS has also acquired heavily armored tanks, which have been seen roaming the streets. Evidently somebody in government is expecting some serious civil unrest. The question is, why? Continue reading

America needs the NEED Act

Today, our politicians squabble over healthcare legislation passed years ago and in a few more days their fight will be over the federal debt ceiling. Continue reading

When lack of money prevents work: FSRN ends daily broadcast

Free Speech Radio News, a daily international news program produced for and carried by community radio stations primarily in the United States, aired for the last time on Friday, September 27, 2013. Continue reading

A bad month for the dollar

September was not a good month for the U.S. dollar. The world’s reserve currency is sustained in large part by the Petrodollar, the agreement by the Saudis and OPEC to price oil in dollars and only accept dollars for payment. The US gets a guaranteed demand for its fiat currency and, in exchange, the US has agreed to protect militarily Saudi oil fields. Continue reading

Pro football’s unsportsmanlike conduct

When Thomas Jefferson wrote that all men are created equal, his Monticello farm team was obviously not what he had in mind. They were chattel, possessions toiling in his fields. So it’s not lightly—or unreasonable—to invoke the plantation mentality to describe the National Football League. Continue reading

Collateral damage: QE3 and the shadow banking system

Ben Bernanke’s May 29 speech signaling the beginning of the end of QE3 provoked a “taper tantrum” that wiped about $3 trillion from global equity markets—this from the mere suggestion that the Fed would moderate its pace of asset purchases, and that if the economy continues to improve, it might stop QE3 altogether by mid-2014. The Fed is currently buying $85 billion in US Treasuries and mortgage-backed securities per month. Continue reading

Think your money is safe in an insured bank account? Think again.

A trend to shift responsibility for bank losses onto blameless depositors lets banks gamble away your money.

When Dutch Finance Minister Jeroen Dijsselbloem told reporters on March 13, 2013, that the Cyprus deposit confiscation scheme would be the template for future European bank bailouts, the statement caused so much furor that he had to retract it. But the “bail-in” of depositor funds is now being made official EU policy. On June 26, 2013, The New York Times reported that EU ministers have agreed on a plan that shifts the responsibility for bank losses from governments to bank investors, creditors and uninsured depositors. Continue reading

The crime of alleviating poverty: A local community currency battles the Central Bank of Kenya

Former Peace Corps volunteer Will Ruddick and several residents of Bangladesh, Kenya, face a potential seven years in prison after developing a cost-effective way to alleviate poverty in Africa’s poorest slums. Their solution: a complementary currency issued and backed by the local community. The Central Bank of Kenya has now initiated charges of forgery. Continue reading

No bear market in gold

You know that gold bear market that the financial press keeps touting? The one George Soros keeps proclaiming? Well, it is not there. The gold bear market is disinformation that is helping elites acquire the gold. Continue reading

Washington signals dollar deep concerns

Over the past month there has been a statistically improbable concurrence of events that can only be explained as a conspiracy to protect the dollar from the Federal Reserve’s policy of Quantitative Easing (QE). Continue reading

Gangster state America

There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver. Continue reading

Assault on gold update

I was the first to point out that the Federal Reserve was rigging all markets, not merely bond prices and interest rates, and that the Fed is rigging the bullion market in order to protect the US dollar’s exchange value, which is threatened by the Fed’s quantitative easing. With the Fed adding to the supply of dollars faster than the demand for dollars is increasing, the price or exchange value of the dollar is set up to fall. Continue reading

The assault on gold

For Americans, financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices. Continue reading

How Congress could fix its budget woes, permanently

As Congress struggles through one budget crisis after another, it is becoming increasingly evident that austerity doesn’t work. We cannot possibly pay off a $16 trillion debt by tightening our belts, slashing public services, and raising taxes. Historically, when the deficit has been reduced, the money supply has been reduced along with it, throwing the economy into recession. Continue reading

Only one solution to the Fed debt trap

The Oxford Dictionary of Proverbs lists the oldest written version of the saying “what you don’t know can’t hurt you” as coming from playwright George Pettie’s Petit Palace in 1576: “So long as I know it not, it hurteth me not.” Continue reading

The trillion dollar coin: Joke or game-changer?

The trillion dollar coin actually represents one of the most important principles of popular prosperity ever conceived: the creation of money by sovereign governments, debt-free. Continue reading

Iran vs the Empire: Fighting dollarization

The West’s attempts to destroy the Iranian economy through heightened sanctions—including most imports, oil exports and use of banks for trade operations—is having its effect. Continue reading

QE Infinity: What is it all about?

QE3, the Federal Reserve’s third round of quantitative easing, is so open-ended that it is being called QE Infinity. Doubts about its effectiveness are surfacing even on Wall Street. Continue reading

Pitching how to make more money as the value of the dollar fails

Recently, one of a series of pitchmen trying to sell their financial products to me proposed Exchange Traded Funds (ETFs) that will make more dollars the more the US dollar goes down in value. Continue reading

Why QE3 won’t jumpstart the economy—and what would

The Fed’s announcement on September 13, 2012, that it was embarking on a third round of quantitative easing has brought the “sound money” crew out in force, pumping out articles with frighting titles such as “QE3 Will Unleash’ Economic Horror’ On The Human Race.” The Fed calls QE an asset swap, swapping Fed-created dollars for other assets on the banks’ balance sheets. But critics call it “reckless money printing” and say it will inevitably produce hyperinflation. Too much money will be chasing too few goods, forcing prices up and the value of the dollar down. Continue reading

The MF Global Magical Mystery Tour

It is impossible to make up a fantasy tale that rivals the manifestations of the outlandish MF Global scandal. The evaporation of customer’s monies into an intentional off shore stash is tragic enough, but the indignity of allowing “no consequences” for a horrific crime against all investors is inexcusable. Continue reading

Greece and the euro: Fifty ways to leave your lover

The Euro appears to be a marriage of incompatible partners. A June 1 article in the UK Telegraph, titled “Why Europe’s Love Affair with the European Project Is Ending,” reported that two-thirds of 9,000 respondents thought that having the euro as their single currency was a mistake. Continue reading

Out of the mouths of babes: 12-year-old money reformer tops a million views

The YouTube video of 12-year-old Victoria Grant speaking at the Public Banking in America conference in April has gone viral, topping a million views on various websites. Continue reading

The European Stabilization Mechanism or how the Goldman vampire squid just captured Europe

The Goldman Sachs coup that failed in America has nearly succeeded in Europe—a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers. Continue reading

The divine right of money

Is Western democracy real or a façade?

The United States government and its NATO puppets have been killing Muslim men, women and children for a decade in the name of bringing them democracy. But is the West itself a democracy? Continue reading

Money throws democracy overboard

Watching what’s happening to our democracy is like watching the cruise ship Costa Concordia founder and sink slowly into the sea off the coast of Italy, as the passengers, shorn of life vests, scramble for safety as best they can, while the captain trips and falls conveniently into a waiting lifeboat. Continue reading

Pulling back the curtain on the Wall Street money machine

On November 27, Bloomberg News reported the results of its successful case to force the Fed to reveal the lending details of its 2008–09 bank bailout. In 29,000 pages of documents, the Fed revealed that by March 2009, it had committed $7.77 trillion in below-market loans and guarantees to rescuing the financial system; and that these nearly interest-free loans came without strings attached. The Fed insisted that the loans were repaid and there have been no losses, but the banks reaped a $13 billion windfall in profits; and “details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.” Continue reading

Numbers justify Occupy movement

Feeling angry about being betrayed by a corrupt government owned by rich and corporate elites has driven the Occupy Wall Street movement. Emphasizing how the top one percent has prospered incredibly while the bottom 99 percent have been screwed royally is supported by countless data. New data show this is a global phenomenon and that even in the worst of economic times the wealthiest make out like the bandits they are, and there are a lot more of them than one percent. Continue reading

What quantitative easing really means

Stripped from the fancy (and mystifying) jargon, quantitative easing (QE) simply means increasing the quantity of money supply, or easing credit conditions—in the hope of stimulating the stagnant economy. This is usually done by having central banks inject a pre-determined quantity of money into the coffers of commercial banks in return for the purchase of their financial assets, which consist largely of government bonds. Although it is typically done electronically, or on paper, its practical effect is the same as printing money. Continue reading

Looting frenzies

Hey, let’s go into McGlinchey’s, the cheapest bar in Center City. When I first entered this place in 1982, I was only 18, so to make myself look somewhat legal, I wore an old man jacket, bought at a thrift store for 2 bucks. Inside, I was thrilled to discover that a draft of Rolling Rock was only 50 cents, and a hotdog 25. Now they are $1.25 and 75 cents, respectively. This low life bar, my kind, is still dirt cheap, but that’s inflation for you. Continue reading