Charlie Munger Draws a Bright Line
Bloomberg: Munger Says ‘Thank God’ Bailouts Came Before Handouts (Update1) I, for one, genuinely appreciate Mr. Billionare Munger speaking truthfully. “Charles Munger, the billionaire vice chairman of Berkshire Hathaway Inc., defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should “suck it in and cope.” “You should thank God” [...]
Dollar Being Eliminated from Foreign Trade
One of the roles of the “world reserve currency” is its use as a primary currency of choice in settling international trade. This literally means that foreign trade, even between non-U.S. trading partners, is settled in U.S. Dollars. This is done advantageously by both trading partners; by the purchaser because dollars are readily available, and [...]
So Now We Know…
…why both so-called parties of fed dot gov don’t want to deal with the illegal immigration issue: illegals are helping keep the Social Security system afloat. I’ve always known it was about demographics, but a recent WaPo article confirms it: by paying SS taxes but being ineligible to receive benefits, illegal immigrants are making a [...]
The Shabby Secret of the (Fed, Congress) Welfare Statists
Alan Greenspan, before he sold out and became a tool: “In the absence of a gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. [...]
Top Ten Reasons Why Congress Hates the Tea Party & Patriot groups (and why you should register for the Oct. 8-9 Virginia Tea Party Patriots Convention
Top Ten Reasons Why Congress Hates the Tea Party & Patriot groups (and why you should register for the Oct. 8-9 Virginia Tea Party Patriots Convention at www.vateapartyconvention.com): 10. Most Tea Party & Patriot group supporters actually work for a living, and it’s human nature not to like people who are so very different from [...]
Still Holding Dollars?
You might want to reconsider. Seems like Uncle Bucky is having some perception problems: Banks back switch to renminbi for trade A number of the world’s biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China. HSBC, which recently moved its [...]
WSJ: Getting Ready For A Dollar Collapse?
“…maybe a massive bout of global inflation is the only way forward.” – Alen Mattich, WSJ Those crazy moonbat goldbugs over at Wall Street Journal are at it again. Next thing you know they’ll be advising the plebes to buy gold. “When set against the fact that the government has lost control of its finances, [...]
Francisco’s Money Speech
Do not ask, ‘Who is destroying the world?’ You are. Say whatever you want about Ayn Rand, some of the ideas in her epic tome “Atlas Shrugged” should be required reading in American schools. In our previous post, we introduced the idea of money and the manipulation (destruction) of its value. Without further comment, [...]
WSJ: What if Gold Isn’t a Commodity After All?
This won’t sit well with some people: Gold isn’t a commodity. There. I’ve said it. – WSJ’s Jeff Opdyke Wall Street Journal is not some goldbug rag. The idea that the U.S. dollar is no longer the envy of the globe is becoming mainstream. Goldbugs, of course, are way ahead of this trend. WSJ’s Jeff Opdyke [...]
