journalists

James Rickards: Gold Other Money That Renders Central Bank Power ‘Meaningless’

The “Quote For The Week” runner-up. From American investment banker, risk manager, attorney, and financial commentator James Rickards, in a recent interview with Schiff Gold’s Albert K. Lu:

I actually think of gold as money. Money is different from an investment or a commodity, so, is gold a commodity? Is it an investment? Is it money? Well, it depends a little bit. Like a chameleon, it changes color. I think of it as money. But I think that’s why there is such bitter opposition, and so many really canards and made-up stories, anti-gold. These come from the PhDs. Whoever controls money controls the world. You control wealth, you control politics; you control who wins and who loses. It’s a very powerful thing to control.

Who controls money today? The answer is the central banks, and those are all PhDs, they come from MIT, Harvard, Chicago, Stanford, just a really small number of universities. They all know each other. It’s a club. Well, if you were in this PhD club that controls the central banks, you wouldn’t want people to even think about gold. You wouldn’t want them to talk about gold, because gold is the competition. Gold is the other money that can render their power meaningless. And so they perpetuate these myths about gold. Unfortunately, a lot of students, a lot of journalists, a lot of everyday citizens follow the leader, follow these PhDs without ever examining the assumptions…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

Rickard’s new book…

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2012 Election Thoughts

For months now I’ve been saying to those people closest to me that Barack Obama will be reelected as President of the United States of America. Granted, last week I did mention to my girlfriend that Mitt Romney might have a shot at the White House based on analysis done by FOX News and Glenn Beck’s The Blaze TV (these two media outlets need to win back any confidence I had in them as a result). Now that Election Day has come and gone, here are some thoughts about the whole spectacle.

The main reason I kept saying Obama would get reelected as President was that the votes were already “bought and paid for.” A lot of Americans receive government benefits (49.1 percent of Americans lived in a household where at least one member of the family received such benefits in 2011, according to the Wall Street Journal earlier this year). The Obama administration has demonstrated these past four years that it’s willing to provide these benefits (part ideology, part political strategy). If you are someone receiving this, why would you endanger the status quo by voting for someone else who might take it away as part of some publicized push for smaller government living within its means? Where could all this lead to? Full-fledged dependency and eventual bondage, if one buys into the Cycle of the Body Politic.

Young American voters could be more “left-leaning” than their predecessors. How left? Well, “socialist” might not be too far off the mark if one subscribes to the findings of a Pew Research Center survey from December 2011. I wrote back on September 27:

You see, not only am I aware that a good number of Americans aren’t put-off by the idea of socialism anymore, but a recent poll even showed a majority of young Americans aged 18-29 have a positive view of it.

From the Pew Research Center website back on December 28, 2011:

Socialism is a negative for most Americans, but certainly not all. Six-in-ten (60%) say they have a negative reaction to the word; 31% have a positive reaction…

Fully nine-in-ten conservative Republicans (90%) view socialism negatively, while nearly six-in-ten liberal Democrats (59%) react positively.

The poll of 1,521 adults conducted back in early December 2011 revealed that among the 18-29 age group, 49 percent had a positive view of socialism as compared to 43 percent having a negative view.

Is Obama and his White House socialist? I don’t know. Are they “left-leaning?” The available evidence suggests so. Which could be why a lot of young American voters are drawn to the Democrats.

Public sector unions obviously played a big role in this election. I understand that such groups work toward the benefit of their members. However, does such activity work contrary to the common good, destabilizing increasingly financially-challenged public agencies, as critics suggest? Plenty of insolvent government organizations could be available for study shortly.

While incumbent politicians can be more difficult to dislodge from office, President Obama retained the White House despite a dismal economic record in his first term. Measures of (un)employment, food stamps, poverty, budget deficits, national debt, for example, grew increasingly worse over the past four years. I know, what about those “5 million jobs created” the Democrats kept touting during the campaign? Problem is, a closer look at what was “created” reveals a lot of low-paying positions. Burger flippers won’t be spearheading a U.S. economic recovery anytime soon. Perhaps Americans aren’t voting based on their wallets as much anymore. Or perhaps their pocketbooks haven’t been hit hard enough. That may be just a matter of time.

The past four years confirmed for many Americans the transformation of the news media from watchdog journalists to unofficial mouthpieces of the Democratic Party (the press being merely a mouthpiece for any party is bad). I have some journalism experience in my background, and my training included an emphasis on unbiased reporting. Being exposed to the amount of news material I am on a daily basis, it’s all too obvious to me that either that training is no longer given, a refresher course is desperately needed, or today’s journalists just don’t give a damn about it anymore. Sad. The way I look at it, if reporters not assigned to pen an op-ed/column feel the need to express the political creature in them, then get a personal blog! And let’s exchange links. Otherwise, do your country a huge favor and once again occupy the role of the “Fourth Estate”- an independent press. Continue on as the “American Pravda” and suffer the inevitable consequences.

Since Chicago/Cook County/Illinois Democrats play a significant role in running the country, one need only look at where they originate from to get an idea of where they might be taking the country these next four years. Anyone who spends enough time on this blog reading those posts written for my local audience knows exactly where that is:

Into the ground.

While Chicago and Cook County have significant financial woes, the State of Illinois is essentially bankrupt. Too many benefits, too much spending, too little cutbacks, too much borrowing, and now the fee and tax hikes on residents and businesses. It’s going to get ugly in the “Land of Lincoln” real fast. California and Illinois are the two U.S. states competing with each other to go under first as the financial crisis worsens, according to some very smart people. Yet, don’t expect any regime change in “Madiganistan” any time soon. As I wrote back on March 21:

As a result of this redistricting, Democrats could very likely control the state legislature in Illinois for a number of years. Monique Garcia, Alissa Groeninger, and Ray Long wrote on the Chicago Tribune website last night:

Even before unofficial results rolled in, some sitting Republican lawmakers were bound to lose in DuPage County, casualties of the Democratic-drawn state legislative districts. The map is tilted so heavily toward Democrats that the party led by House Speaker Michael Madigan, the Illinois Democratic chairman, is all but ensured November general election victories that could set it on a course to control the General Assembly for the next decade.

And from a Chicago Tribune editorial piece this morning:

Democrats had virtually locked in their Springfield majorities before the first voters cast the first early ballots on Oct. 22. More than half of these legislative races weren’t even contested by both major parties. And while some of the new district boundaries gave Republicans tremendous advantage, the aggregate effect was to keep Illinois and its 12.8 million citizens under one-party rule.

Voters evidently like it that way.

Yes they do. Especially as votes were also “bought and paid for” here in the ‘Stan.

Before this post is misconstrued as being merely some Obama/Democrat-bashing piece, regular readers of the blog know that I foresee a U.S. financial crash at the end of all this “kicking the can down the road.” That being said, at this point in the game, I don’t think it really matters anymore whether the Democrats or Republicans are in charge as it concerns where our economy and larger financial system is eventually heading. Enough damage has already been done (think of the Titanic and her compartments being punctured just enough to guarantee her inevitable demise) that America is fast-approaching a tipping point as both major national political parties make matters worse by refusing to scale back the obscene amounts of government spending when given the chance. If you think about it, when it comes to fiscal policy, both parties have shown to be no better than a two-headed monster. Barack Obama’s economic polices from 2008-2012, in general, were really just an extension of George W. Bush’s economic policies. Spending, stimulus, government intervention, you get the picture. Rather than sit down, have a mature conversation with the nation about the unsustainable track we’re on concerning our finances, and stop the spending, both the Democrats and Republicans continue to pander to Main Street’s desire for more stuff, more benefits, more borrowing, more debt. This time around, Barack Obama and the Democrats won. In the longer run, everyone looks to lose.

In the meantime, congratulations Mr. President and the Democratic Party on your Election Day victory.

Sources:

Izzo, Phil. “Number of the Week: Half of U.S. Lives in Household Getting Benefits.” Real Time Economics. 26 May 2012. (http://blogs.wsj.com/economics/2012/05/26/number-of-the-week-half-of-u-s-lives-in-household-getting-benefits/?KEYWORDS=number+of+the+week). 7 Nov. 2012.

“Illinois Democrats and their realm.” Chicago Tribune. 7 Nov. 2012. (http://www.chicagotribune.com/news/opinion/editorials/ct-edit-legis-1107-20121107,0,2900759.story). 7 Nov. 2012.

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New Yorkers Eating Out Of Dumpsters After Hurricane Sandy

Trying to get a clear picture of Hurricane Sandy’s effects on New York City and the rest of the East Coast has been challenging.

If I rely on what the mainstream media has been showing and telling Americans, then I might be under the impression that U.S. President Barack Obama is masterfully-coordinating government assets in the clean-up of the region.

How did I get this impression? Well, there’s plenty of photos and video going around the Internet and on TV of the President looking all authoritative and on top of things these past couple of days, whether he’s in the White House “Situation Room” or with government officials from devastated areas.

Maybe he did take away something from the Benghazi terrorist attack (in addition to a guilty conscience, as a growing number of voices suggest he should have).

In fact, I might be convinced the recovery after Hurricane Sandy is doing just fine since New York City Mayor Michael Bloomberg has decided to let the City’s famous marathon take place as planned this coming Sunday.

The thing is, I’m not convinced.

First off, it’s the more-often-than-not liberal-leaning mainstream media we’re talking about here.

As much as I hate to say it, many journalists realize President Obama doesn’t have much of a record to run on, so they’ll do anything they can to paint him and his administration in a positive light in the run-up to Election Day.

Don’t believe me? Observe how many media outlets are wording the increase in the U.S. unemployment rate today.

Thankfully, the rest of America is catching on, albeit slowly.

That Jay Leno. What a funny guy. Even he gets what’s going on.

Whatever happened to watchdog journalism?

Maybe it never existed in the first place.

Second, when I see run-of-the-mill New Yorkers getting food out of a dumpster behind a supermarket, I know for a fact the MSM is not telling the whole story.


“Hungry New Yorkers Eating Out Of Dumpsters After Hurricane Sandy”
YouTube Video

Looting, violence, flooding, power outages, food/water/fuel shortages, now dumpster diving for food. I’ve seen enough now to realize this recovery is not as smooth as it’s being portrayed.

That being said, I know a lot of people are working their butts off trying to help those poor individuals on the East Coast- President Obama and Mayor Bloomberg included. I respect that and thank them for their efforts.

But enough spin already. Show us what the hurdles actually are- one might think listening to MSNBC’s Andrea Mitchell the other day that donated clothes or canned goods aren’t needed for the massive relief effort- so we can get this part of America truly back on its feet again.

And fast, since a nor’easter looks to be headed their way.

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Dan Rather Blasts The Evening News

Speaking of the “lamestream media,” does anyone get PARADE in their Sunday newspaper? Do any readers even get the Sunday paper anymore? Well, in Walter Scott’s “Personality” section, journalist and former CBS Evening News anchor Dan Rather was asked about the state of nightly newscasts since he retired in 2005. Rather, who’s now managing editor and anchor of the television news magazine Dan Rather Reports on the cable channel HDNet (watched DRR the other week- informative, gritty, very promising from what I saw) told PARADE readers:

A lot of it is too polarized. We’ve become too politically correct and basically too afraid. Journalism at its best has guts.

You mean, it’s not meant to be an opinion platform or propaganda for the journalist/media outlet/powers-that-be?

The brief segment can be read in its entirety on the PARADE website here.

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Tuesday, July 3rd, 2012 Mainstream Media, Propaganda No Comments

Quote For The Week

Society has changed. The public is to blame as well. I think the people have gotten dumber. I don’t know that I would’ve said that out loud pre-my announcement that I was going to be leaving. [Laughter] But I think that’s true. I mean everything has changed. The media has changed. We now give broadcast licenses to philosophies instead of people. People get confused and think there is no difference between news and entertainment. People who project themselves as journalists on television don’t know the first thing about journalism. They are just there stirring up a hockey game.

-Retiring U.S. Representative Gary Ackerman (D-NY), in a recent interview for a June 21, 2012, Bloomberg Businessweek article

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Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

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