The year 1913 brought with it income taxes, the Federal Reserve Act and the 17th amendment. What is the significance? To get a great some great insight on this I am providing a link to a great talk by Tom DiLorenzo.
The effects of the income tax and the Federal Reserve bank can more easily been seen and felt. However, the 17th amendment is not talked about as frequently. I think this is valuable information for people looking to learn more about American history than the education system (government education system) offers. Read More »
Ludwig von Mises - Man of the free market and brilliant economist from the Austrian School. (Image via Wikipedia)
It always strikes me as strange how Americans are tempted to blame the free markets for a multitude of problems. America is the same country whose national anthem boasts “the land of the free”. The country was founded in order to secure economic and personal freedom from England.
If you read the writings or the quotes of those men who wrote the founding documents and helped create America it is not difficult to see it was all about liberty and freedom. Everywhere you look in America you see the same message. The message of freedom is on bumper stickers, posters, music, movies and almost anything you can imagine.
Here’s a youtube video of Tom Woods at University of New Hampshire. I was in New Hampshire and decided to make the drive to hear both Scott Horton and Tom Woods. I am glad I did. This is a good video with a nice explanation of business cycle theory and some great insight on the current poor economic conditions.
There is a new book coming out in September that is picking up steam. Once again Ron Paul, congressman from Texas, has authored a new book. In his last book “Revolution: A Manifesto”, Dr. Paul brilliantly explained the ills of the state and then provided the remedies. He detailed many failings of our government including interventionist foreign policy, our monetary system, taxes, infringement on our civil liberties and tired party party politics.
Now, he will be releasing a book about the biggest problem in America that nobody in the mainstream talks about, The Federal Reserve Bank. His new book titled End the Fed will be released on Amazon on September 16, 2009.
The average American who has yet to hear the wake-up call will instead be woken up by a kick in the teeth from our government. America is going away and what it is being replaced with is a nightmare.
The House of Representatives passed the cap and trade legislation 219-212 this evening. If this bill ends up passing it will increase taxes and energy costs. It will damage economy. Jobs will be destroyed in droves in the productive private sector while “creating” relatively few unproductive government make-work jobs.
This bill is again over 1,000 pages and nobody has had time to read it all. Again, the whole political process screams of favors, leverage and pull.
So money is going to be taken from people (in the form of taxes) to implement a program that will tax them even more.
A company in Germany will be selling gold in vending machines. Why? Is it because Germany loves the bling bling, as some say? No. Owner of the company,Thomas Geissler, said the following:
“German investors have always preferred to hold a lot of personal wealth in gold, for historical reasons. They have twice lost everything.”Gold is a good thing to have in your pocket in uncertain times.”
It seems other countries can see the writing on the economic wall? Is it time to plan for a major crisis? It is always time to plan for a major crisis. Ironically had Americans been of the mind to save money and prepare for a crisis, the current one may not have been so bad.
The world is right doubting stability and validity of the US dollar as the reserve currency. Because of this doubt the US dollar is dropping once again against the Euro and Yen.
Anyone with a little common sense and the propensity to think for himself knows that printing money like a gambling addict will not result in a strong dollar. This Keynesian economic nonsense about active government intervention in the marketplace to ensure economic growth and stability has proven to be a key factor in the dollar’s decline. Too bad the federal government and the Fed haven’t figured this out yet. Even worse, maybe they do understand what they are doing and continue on anyway.
What is the scenario? Only time will tell. What is clear is that other countries have healthy doubts about this country.
When will the majority of US taxpayers allow themselves to see the disturbing patterns taking place? Read More »
