Mike Maloney - Debt Collapse Presentation

Take the time to watch this. Mike Maloney has a way of simplifying a complicated subject to the point the average person can understand what is going on with the world economy and the collapse of fiat money.

Obama 2006 On Raising the Debt Ceiling

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006

Not sure who wrote this for Obama in 2006 but he should go back and read his speech again. This is all a farce, the debt ceiling will get raised at the last minute and both parties will come out shaking hands taking about how that they got a deal done…"Status Quo" err "Kicking the can down the road"

I lean more toward Jim Rogers take on this subject:

Why Martial Law Cannot Happen in USA

So this weekend I was surfing youtube and came across:

US v. Emerson, Fifth Circuit, Case No. 99-10331:
1. Testimony of Norman Olson of the Michigan Militia; and,
2. John Trochman and Bob Fletcher of the Militia of Montana before the Senate Subcommittee on Anti-Terrorism, June 15, 1995.

I found this to be very interesting and thought I would put up Mr. Olson statement. Another interesting thing I see is that a couple Senators that where there, seem to have made a career out of politics, Arlen Specter and Dianne Feinstein.

Not only does the Constitution specifically allow the formation of a Federal Army, it also recognizes the inherent right of the people to form militia. Further, it recognizes that the citizen and his personal armaments are the foundation of the militia. The arming of the militia is not left to the state but to the citizen. However, should the state choose to arm its citizen militia, it is free to do so (bearing in mind the Constitution is not a document limiting the citizen, but rather limiting the power of government). But should the state fail to arm its citizen militia, the right of the people to keep and bear arms becomes the source of the guarantee that the state will not be found defenseless in the presence of a threat to its security. It makes no sense whatsoever to look to the Constitution of the United States or that or any state for permission to form a citizen militia since logically, the power to permit is also the power to deny. If brought to its logical conclusion in this case, government may deny the citizen the right to form a militia. If this were to happen, the state would assert itself as the principle of the contract making the people the agents. Liberty then would depend on the state's grant of liberty. Such a concept is foreign to American thought.

While the Second Amendment to the US Constitution acknowledges the existence of state militia and recognizes their necessity for the security of a free state; and, while it also recognizes that the right of the people to keep and bear arms shall not be infringed, the Second Amendment is not the source of the right to form a militia nor to keep and bear arms. Those rights existed in the states prior to the formation of the federal union. In fact, the right to form militia and to keep and bear arms existed from antiquity. The enumeration of those rights in the Constitution only underscores their natural occurrence and importance

According to the Tenth Amendment, ultimate power over the militia is not delegated to the Federal government by the Constitution nor to the states, but resides with the people. Consequently, the power of the militia remains in the hands of the people. Again, the fundamental function of the militia in society remains with the people. Therefore, the Second Amendment recognizes that the militia's existence and the security of the state rests ultimately in the people who volunteer their persons to constitute the militia and their arms to supply its firepower. The primary defense of the state rests with the citizen militia bearing its own arms. Fundamentally, it is not the state that defends the people, but the people who defend the state.

The second line of defense of the state consists in the statutory organization known as the National Guard. Whereas the National Guard is solely the creation of the statutory law, the militia derives its existence from the inherent inalienable rights which existed before the Constitution and whose importance are such that they merited specific recognition in that document. While the National Guard came into existence as a result of legislative activity, the militia existed before there was a nation or a constitutional form of government. The militia consisting of people owning and bearing personal weapons is the very authority out of which the United States Constitution grew. This point must be emphasized. Neither the citizen's militia nor the citizen's private arsenal can be an appropriate subject of federal regulation. It was the armed militia of the American colonies whose own efforts ultimately led to the establishment of the United States of America! While some say that the right to keep and bear arms is granted to Americans by the Constitution, just the opposite is true. The Federal government itself is the child of the armed citizen. We the people are the parent of the child we call government. You, Senators, are part of the child that We the People gave life to. The increasing amount of Federal encroachment into our lives indicates the need for parental corrective action. In short, the Federal government needs a good spanking to make it behave.

One other important point needs to be made. Since the Constitution is the limiting document upon the government, the government cannot become greater than the granting power, that is the servant cannot become greater than his master. Therefore, should the Chief Executive or other branch of government, or all branches together act to suspend the Constitution under a rule of martial law, all power granted to government would be canceled and defer back to the granting power, the people. Martial law shall not be possible in this country as long as the people recognize the Bill of Rights as inalienable.

Since the power of self defense and the defense of the state is ultimately vested in the people, there is no possible way that a Governor or the Chief Executive of the United States, or any legislative body can "outlaw" the citizen militia for to do so would rob inherent power from the people. If that were to happen, our entire form of government would cease.

Historically, we have found that the Governor's militia, that is the National Guard, is intended to reduce the need for the citizen militia. Simply, if the National Guard did it's job in securing the state, the citizen militia would not emerge. That it has emerged so dramatically seems to indicate that the people do not feel secure. Simply stated, the growing threat of centralized Federal government is frightening America, hence the emergence of the citizen militia. When government is given back to the people at the lowest level, the citizen militia will return to its natural place, resident within the body of the people. Civil war and revolution can be avoided by re-investing governing power to the people.

To summarize: Citizen militia are historic lawful entities predating constitutions. Such militia are "grandfathered" into the very system of government they created. The Constitution grants no right to form militia, but merely recognize the existing natural right of all people to defend and protect themselves. The governments created out of well armed and free people are to be constantly obedient to the people. Any attempt to take the means of freedom from the people is an act of rebellion against the people.

In order to resist a rebellious and disobedient government,the citizen militia must not be connected in any way with that government lest the body politic loose its fearful counterbalanceas the only sure threat to a government bent on converting free people into slaves.

Submitted by Norman E. Olson

You can find the rest here: http://www.potowmack.org/emerappb.html

MUST WATCH - The American Dream (Animated)

Brilliant!! QE II Explained

Gold & Silver Represent Freedom From The Matrix - Mike Maloney in Red Sq...

The Sacred Cow

Socialism: If you have two cows, you give one to your neighbor.

Communism: If you have two cows, you give them to the government and the government then gives you some milk.

Fascism: If you have two cows, you keep the cows and give the milk to the government; then the government sells you some milk.

New Dealism: if you have two cows, you shoot one and milk the other; then you pour the milk down the drain.

Nazism: If you have two cows, the government shoots you and keeps the cows.

Nanny Stateism: If you have two cows, we’re going to show up at your house at dawn with a cease-and-desist letter and forbid you to do anything useful with their milk until you comply with General Laws Chapter 94, Sections 13 and 16 through 16K, Chapter 94A, and the regulations found in 330 CMR 27.00 et seq.

Capitalism: If you have two cows, you sell one and buy a bull.

The Story of Spending

Again I have learned with my studies that its really not a left or right, Republican or Democrat, all politicians love to spend our money...

Fiat Designed to Fail

Big Government Rewards Failure

"Big government rewards failure, that's the way it sustains itself, it needs a constant failure as a way to justify its existence and expansion. It fails ultimately, but the saddest thing is, that before it happens, big government would suck a lot of resources from anything even distantly productive that the economy ends up completely destroyed with multiple generations of people being impoverished in this process."

Found in the comment section of one of the blogs I follow. In its simplest form, this statement sums up big government.

Debating a Lunatic

This is a debate I had over the heath care bill with a friend over facebook. Unfortunately, I feel we have a major problem in our country and I want to have an open minded debate and hear the other opinions to see if we can come to a common ground and start to fix the problem. I laid out my side to the best of my ability. This is what took place with commentary on the side...

I am the yellow square, I have a couple other friends jump in as well.

The only modifications of this exchange is the names, and any irrelevant discussion ie. Mike-"Let's get together and the first round is on me."



Please let me know what you think of this debate!

Greenspan, Summers and Economy

"One cannot fight this sort of evil with hatred and violence, or hysteria and intemperate accusations, for these are its creatures, and it uses them always to further its ends. The only worthy adversary of the darkness is transparency, openness, justice, and truth based on facts, in the light of reason, with the guidance of the light of the world. We are not sufficient of ourselves to stand against it, and if we knock down the law, the Constitution, to chase it with expediency and private justice, what will protect us when it turns around to devour us? But we should never be a willing victim, and even worse, a silent bystander or mocking accomplice. This is why were you born here and now, to stand witness to the truth, as you can find it and value it above all else.

It is not easy to find the truth, as it is a journey, a way that never ends. And without a proper guide and companionship, it may be all too easy to grow weary or panic, and lose one's bearings and one's heart. But sometimes it is easier to discover where and what is not the truth by its acts, its results, the fruit that it produces, and the darkness and secrecy in which it dwells."


via Jesse's Café Américain

Liberty

"The fact is that liberty, in any true sense, is a concept that lies quite beyond the reach of the inferior man's mind. He can imagine and even esteem, in his way, certain false forms of liberty - for example, the right to choose between two political mountebanks, and to yell for the more obviously dishonest - but the reality is incomprehensible to him. And no wonder, for genuine liberty demands of its votaries a quality he lacks completely, and that is courage. The man who loves it must be willing to fight for it; blood, said Jefferson, is its natural manure. More, he must be able to endure it - an even more arduous business. Liberty means self-reliance, it means resolution, it means the capacity for doing without."

- H.L. Mencken

Economics: Fiat Currency

In Ayn Rand's Egalitarianism and Inflation she demonstrates the consequences of the introduction of paper money into a thriving agrarian gold-based economy. And she shows how the resulting inflation actually destroys the real-world capital that had previously been accumulated by shifting society's focus from production to consumption.

"Now project what would happen to your community of a hundred hard-working, prosperous, forward-moving people, if one man were allowed to trade on your market, not by means of gold, but by means of paper—i.e., if he paid you, not with a material commodity, not with goods he had actually produced, but merely with a promissory note on his future production. This man takes your goods, but does not use them to support his own production; he does not produce at all—he merely consumes the goods. Then, he pays you higher prices for more goods—again in promissory notes—assuring you that he is your best customer, who expands your market.

"Then, one day, a struggling young farmer, who suffered from a bad flood, wants to buy some grain from you, but your price has risen and you haven’t much grain to spare, so he goes bankrupt. Then, the dairy farmer, to whom he owed money, raises the price of milk to make up for the loss—and the truck farmer, who needs the milk, gives up buying the eggs he had always bought—and the poultry farmer kills some of his chickens, which he can’t afford to feed—and the dairy farmer can’t afford the higher price of alfalfa, so he cancels his order to the blacksmith—and you want to buy the new plow you have been saving for, but the blacksmith has gone bankrupt. Then all of you present the promissory notes to your “best customer,” and you discover that they were promissory notes not on his future production, but on yours—only you have nothing left to produce with. Your land is there, your structures are there, but there is no food to sustain you through the coming winter, and no stock seed to plant.

"Would it make any difference if that community consisted of a thousand farmers? A hundred thousand? A million? The entire globe? No matter how widely you spread the blight, no matter what a variety of products and what an incalculable complexity of deals become involved, this, dear readers, is the cause, the pattern, and the outcome of inflation."

From FOFOA:
Indeed, this is a big problem. Wouldn't you agree? Perhaps she is right, we must return to gold money if we hope to save the Western world from its ultimate destruction. Maybe this is the only way. But what if returning to an economy based only on gold and silver coins in your pocket is a complete pipe dream? What if this will never happen? Is there no hope for our future?

Weekend Listening: James Dines Author of GOLDBUG!

This is one of the most interesting and most entertaining interview I have heard. I would take the time and listen to this interview. This is from Financial Sense Newshour Enjoy!



James Dines has become legendary for having made correct forecasts that were in complete contradiction to the rest of the financial community. He has a new book called "GOLDBUG!"

The Hidden Cost of War

1975 New York = 2010 California

Take the time and view this series, it is very scary. I know my generation doesn't know much history, much less situations like this. Especially events that happened before we were born, besides the major wars and the great depression. I ask anyone who was born after 1975 to watch this because this can happen and it will happen if we do not get our fiscal house in order. I believe that California will go first...

Found from iTulip.com TARGET="_blank">a new window

My Money Shrugged Turns 1 Year Today!

My Money Shrugged turns 1 today! I want to thank everyone who has checked out the site and who continues to come back daily, weekly or monthly! It is the viewers of this site that keep me posting things I find and other thoughts and ideas I have.

This site started out as a personal finance blog and has evolved into a personal finance/political blog. I know I probably lost a lot of viewers when I started posting about government intervention...*shrugged*. When I started looking at my finances and how I wanted to always be a saver and be prepared for the future, I realized there are so many outside factors that influence my capital. I also dove deeper into economics and now see how government intervention can strongly decrease not only mine but others people's saving through taxation, inflation, and a loss of our freedoms.

I only other thing I would say, is that I would love to start more of a community here, if you feel like commenting on anything I post please do and we can start a conversation so we can learn and exchange ideas and solution that could help with our personal finances and most importantly our freedom.

Thanks again for everyone who reads and send out my links to friends/family/twitter/etc...

“Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty.” - Thomas Jefferson

Capitalism vs Socialism - What about Freedom?

Read this in the comments section over at Zerohedge:

Statism; and socialism, corporatism, fascism are all variants of the same authoritarian dynamic, where the state exerts authority over individuals. The difference between socialism and fascism is, in terms of the principles involved, one of degree, not kind. I.e. You Do Not Own Your Own Life.

The cause to rally behind is, in general umbrella terms, freedom. The fight is against centralized power and the curtailment of individual rights. The facilitator of that power, right now in the US, is the Federal Reserve. Get the government and quasi-government entities out of trying to manipulate and manage currency and the economy, and the rest becomes just quibbling. I would love it if the fundamental debate nowadays was simply capitalism versus socialism, but the fact is there is no capitalism now. All we've got now is massive government intervention and manipulation of the economy, and whether the intervention favors the rich or the poor, at this point doesn't matter because they're running on fumes, over the edge of a cliff. Getting back to a real and healthy economy means breaking the government's power to distort markets, especially the currency. Once we get back to that point (if ever), then I'm happy to talk capitalism versus socialism, and what can we afford to allow the government to provide, etc. But until then, to me all forms of state interference in the economy are part of the problem, not the solution.

"The cause to rally behind is, in general umbrella terms, freedom. The fight is against centralized power and the curtailment of individual rights." This is where we are...People get so wrapped up in fight against this or that but we have to get to the point of it being about individual's freedoms . I highly suggest you watch the video in the last post.

¡El Pueblo Unido Jamás Será Vencido!

More comments from Zerohedge.com this time from a commenter JR - These are well thought out comments that address history and how free people are willing to fight/die for freedom:

The US fiat dollar did not become the global ”reserve currency” until 1944. That is not what built America. But in the hands of the Fed, IMO, it is what is destroying America.

The American Dream was about individualism and the opportunity to achieve success without interference from others. The American Dream was about freedom; its lifeblood was free enterprise.

Its heartbeat was America’s superior patent system. That’s what gave men the incentive to burn the midnight oil--a chance to own a property right in their own invention. A 1997 study of the inventors honored in the National Inventors Hall of Fame in Akron, Ohio, revealed that 91% of the world’s greatest inventors worked in America and only 9% in other countries.

Global fascism or Red China pseudo capitalism can never give the spring to invention that our Founding Fathers gave to Americans when they included in the United States Constitution the provision “to promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries.”

I have faith that men who have known freedom will always, in the end, sacrifice everything to retain that freedom. Americans are close to that point now where they will tap into that thirst for freedom that brings revolution if the few now wielding raw power do not respond to the call for change – real change, not Obama “change.”

“Government exists off surpluses created by the people whom they rule. The ruling classes, i.e., those people who refer to themselves as ‘government,’ do not produce wealth, thus their existence depends upon the expropriation of assets from others.” -- Robert J. Ringer in “Restoring the American Dream.”

It is now a question of opportunity—as things get worse, and they are going to get much worse, and when the government clamps down more and more with no redress, that desire for freedom is going to kick in, and men are going to drop everything to get that freedom back. And they are going to fight: and will kill if they have to kill as they always have, in the cause of freedom.

I hope it doesn't come to this point. We as citizens of this country have to get together and get the government out of our business. Governments, since the beginning of time, have always been oppressive and the bigger and bigger it grows, the harder it is for the people to gain control. This isn't about politics as usual, its about government growing to a point that they want more and more control and power. Once they get drunk off power, they will do whatever it takes, to not lose control, including what are in these videos. They have a strangle hold on the US economy and are a part of almost every aspects of our life...

medicare
medicaid
social security
SSI
extended unemployment benefits
emergency unemployment benefits
socialized medicine
corporate welfare
bailouts
just to name a few..

They tax us to death, and they try to tell us what to spend and not spend our money on, and they claim to know what is best for us. Last time I checked, they are the ones that got us into this problem, why do I believe they are going to get us out of it? I DON'T, it is time for this government to step aside and allow for the free market to get us out of this recession. Wake up America? Demand less involvement of you incompetent government and its policy makers!

Read Atlas Shrugged and open you mind, trust me I know very little, but I have started to open my mind and what I am finding out is scary. At least I know that I am doing my best to wake up the people to be united.

¡El Pueblo Unido Jamás Será Vencido! (The people united will never be defeated!)