Ron Paul

Gallup: The Unemployment Rate is 10%

Gallup:  The Unemployment Rate is 10%

Jobs…jobs…jobs… I’m beginning to sound like a broken record but it’s true: This economy is going nowhere unless we start creating some jobs. As for the recent drop in the unemployment rate to 9.0%, I’m not buying it since it comes from Uncle Sam. The real figure is likely closer to what Gallup is reporting today… From by Dennis Jacobe entitled: Gallup Finds U.S. Unemployment Up to 10% in Mid-February “Unemployment, as measured by Gallup without seasonal adjustment, hit 10.0% in mid-February — up from 9.8% at the end of January. Underemployment, in which Gallup combines part-time workers wanting full-time work with the U.S. unemployment rate, surged in mid-February to 19.6% — mostly as a result of the sharp increase in those working part time but wanting full-time work. Underemployment now stands at basically the same place as it did a year ago (19.8%). The unemployment rate in mid-February is 0.8 percentage points lower than it was at this time a year ago, compared with a 1.1-point improvement at the end of January. This suggests that jobs are less available now than they were in January. More troubling, however, is the surge in underemployment. On this broader basis, current job conditions are barely improved from what they were at this time last year. Essentially, what has happened over the past year is that some people who were unemployed got part-time jobs but are still looking for full-time work. This is not much to show for a year in which many macro-economic indicators showed improvement. This is likely why Gallup’s self-reported spending

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Government Run Amok: Unintended Consequences

Filed in BP, Gold, GOld juniors, Gold Market, inflation, o, Quantitative Easing, Ron Paul by on December 22, 2010 0 Comments
Government Run Amok: Unintended Consequences

Here is one that has been making the rounds in the blogosphere. It’s about the unintended consequences set in motion by a government run amok. Yet another example of the powerful vs the powerless…in other words never buy the spin. The truth is out there…. Related Articles: The Madness of Extending the Home Buyer Tax Credit The Cash-for-Clunkers Hangover How Uncle Sam Fiddles with the Figures Ron Paul Puts the Fed In the Crosshairs Quantitative Easing For Dummies To learn more about Wealth Daily click here Advertisement Learn to Make a 4,400% Gain in Just Five Years… “You have made me more money over the last 5 years than all the rest put together. I follow your every word including stop loss % and sell recommendations. I am 55 years old semi-retired. I started with $10,000 five years ago and because of you that number is over $450,000 after profit taxes give or take $10,000 depending on the week. So please continue to take care of us the same way you always have.” – Paul T. Isn’t it time you learned how to make similar gains? Click here for more… and our latest “free” trade. Government Run Amok: Unintended Consequences originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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The Scariest Thing about Bernanke

The Scariest Thing about Bernanke

“The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt.” — Bertrand Russell “One hundred percent.” — Ben Bernanke, on his confidence that the Fed will control inflation Lately, I can’t help but reflect on Ron Paul’s End The Fed (ETF). It’s been over a year since I finished the book, yet I keep pulling it off the shelf. Throughout, Paul writes insightfully about politics and money in America. Like this part about the Bernank : Some people have been surprised by Bernanke’s irresponsible conduct of monetary policy. There was no reason to be surprised. He was on record promising unlimited amounts of inflation should the need arise. If Greenspan was cocky about the genius of central bankers, Bernanke is even more so. Congressman Paul— unlike some — is careful with his words. You don’t get many sexy sound-bytes out of the Rep. from Texas. So when he says Bernanke is worse than Greenspan (my interpretation, based on this and other passages in ETF ), it’s noteworthy. To be sure, moral hazard flourished under his predecessor. The notorious “Greenspan put” offered an implicit backstop to banks and kept monetary conditions plenty loose. Bernanke and the current monetary regime, though, are taking things further. They are determined to keep rates lower than any time in history, indefinitely. This will lead to pervasive malinvestment, bank bonuses, and price inflation. Meanwhile, retirees will continue to collect pitifully low income on their CDs. But don’t worry; Wall Street bonuses are safe. Any bank that can’t make money in this environment should have their damn head examined. Borrow money at 0%, buy higher-yielding assets. Dip into various gov’t giveaways, let the bonuses flow, change accounting rules to conceal losses. Rinse, repeat. Financial sector profits are back up to 42% of all corporate profits in the United States — an absurdly high level. None of this should come as a surprise I guess, with Bernanke, William Dudley, and a few others at the helm of the Fed. Clearly, ” the Bernank ” has even less of an issue with moral hazard than Greenspan did, and under his leadership the Fed is even more determined to “ease” monetary conditions. Robbing the middle class and savers blind and enriching the banks are just unfortunate consequences of what’s good for the economy …

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Why Don’t Conservatives Oppose the War on Drugs?

Filed in BP, deflation, New Gold, o, Ron Paul, Spot Gold, target, ubs by on December 13, 2010 0 Comments

The war on drugs is a failure. According to the latest National Survey on Drug Use and Health conducted by the Substance Abuse and Mental Health Services Administration: “Drug use in the United States increased in 2009, reversing downward trends since 2002.” There was a spike in the number of Americans admitting to using marijuana, ecstasy, and methamphetamine. Yet no matter how much it costs to wage the federal drug war (more than $41 billion, according to a just released Cato Institute study), conservatives generally support it. I know of no prominent conservative who publicly calls for drug legalization. I know of no Republican candidate in the recent election (outside of Ron Paul) who has ever publicly voiced his support for the decriminalization of drug possession. Republicans in Congress — by an overwhelming majority — have even criminalized the purchase of over-the-counter allergy-relief products like Sudafed because they contain pseudoephedrine. [The sale of Sudafed isn’t illegal, but its quantities are strictly controlled so much so that the experience of purchasing Sudafed may make one feel like a criminal. — Ed.] Negative arguments about how the war on drugs ruins lives, erodes civil liberties, and destroys financial privacy are unpersuasive to most conservatives. None of these things matter to the typical conservative because they, like most Americans of any political persuasion, see using drugs for recreational use as immoral. The hypocrisy of conservatives who support the war on drugs but not the prohibition of alcohol should be readily apparent. But aside from a small minority of conservative religious people that long for the days of Prohibition, conservatives generally don’t support making the drinking of alcohol a crime, even though alcohol is a factor in many accidents, crimes, and premature deaths. So why is getting high on drugs treated differently from getting high on alcohol? The reason conservatives should …

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Ron Paul Puts the Fed In the Crosshairs

Ron Paul Puts the Fed In the Crosshairs

If this isn’t Ben Bernanke’s worst Congressional nightmare, I don’t know what is. His arch-nemesis, Ron Paul, author of “End the Fed,” will take control of the House subcommittee that oversees the Federal Reserve. Yesterday, House Financial Services chairman-elect Spencer Bachus, chose Paul to lead the panel’s domestic monetary policy subcommittee when Republicans take the House majority next month. Meanwhile just last week, Paul said he is planning a whole new a set of hearings on U.S. monetary policy and will restart his push for an audit of all the Fed’s functions. In that regard, here’s a look the direction some of those hearings may take… From Forbes by Alexandra Zendrian entitled: Ron Paul’s Golden Rule Forbes: Why do you think the Federal Reserve needs to be audited? Dr. Ron Paul: For lots of reasons. I don’t believe in secrecy. I don’t think anyone should have so much power that they can create money out of thin air and spend it and interfere in the markets and do central economic planning without any oversight. Congress has a responsibility to know what they’re doing because they created the Fed, they’re very, very important, and people benefit from their actions. And I’d like to know who benefits and who suffers the consequence. I just think that it would be in the interest of the people to know exactly what the Fed is doing. Forbes: Why don’t we know what’s going on with the Fed? People have been pretty complacent, generally complacent, over many, many years because it’s been an insidious problem. I mean, in 1913, they came into existence and a lot of people didn’t know much about it. And they didn’t call for it. But over the years, there’s always been one or two saying, “We should know more about it.” And in the 1970s, when we had a pretty serious economic crisis with inflation and interest rates at 21%, there was a demand for an audit. So they passed an audit bill and what they did exactly was they put prohibitions in. Before that, it was a little vague, but they made it instead of opening up the doors for an audit, they made it absolutely much more difficult for us to find out what they were doing. And my bill essentially repeals what they put in place in 1978, the prohibitions against auditing the Fed. And they work in secrecy. They’re allowed to make arrangements with foreign governments, foreign central banks, international organizations, and they’ve really abused their power, although their power’s been on the books, to deal with corporations. It’s been this recent crisis that has really brought this to a head. They have literally bought over a trillion dollars’ worth of securities. And we don’t know who benefited from that or how much they paid for them. So I think it’s time that the people know what they’ve been up to. The Fed is all-powerful and they scare people and tell people “the world will come to an end.” That’s exactly what they’re doing right now. “This would be so horrible, we would lose our independence.” But all they’re talking about independence is secrecy. They argue, “Oh, no, we …

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Money to Burn: 10% of Cash Supply to be Destroyed

Money to Burn: 10% of Cash Supply to be Destroyed

Here’s a story that is sure to leave the gold bugs shaking their heads. It seems as though Uncle Sam can’t even print his own fiat currency without screwing it up. A full 10% of all existing U.S. currency is going to be quarantined and burned at a cost of over $120 million. From Yahoo News by Zachary Roth entitled: Government can’t print money properly “ As a metaphor for our troubled economic and financial era — and the government’s stumbling response — this one’s hard to beat. You can’t stimulate the economy via the money supply, after all, if you can’t print the money correctly. Because of a problem with the presses, the federal government has shut down production of its flashy new $100 bills, and has quarantined more than 1 billion of them — more than 10 percent of all existing U.S. cash — in a vault in Fort Worth, Texas, reports CNBC. “There is something drastically wrong here,” one source told CNBC. “The frustration level is off the charts.” Officials with the Treasury and the Federal Reserve had touted the new bills’ sophisticated security features that were 10 years in the making, including a 3-D security strip and a color-shifting image of a bell, designed to foil counterfeiters. But it turns out the bills are so high-tech that the presses can’t handle the printing job. More than 1 billion unusable bills have been printed. Some of the bills creased during production, creating a blank space on the paper, one official told CNBC. Because correctly printed bills are mixed in with the flawed ones, even the ones printed to the correct design specs can’t be used until they ‘re sorted.It would take an estimated 20 to 30 years to weed out the

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Ron Paul: Enough is Enough

Filed in BP, GOld juniors, Gold Market, o, Ron Paul by on November 18, 2010 0 Comments

The people are fed up…the pilots are fed up….I’m fed up. Enough is enough. Shake your chains to earth like dew Which in sleep had fallen on you — Ye are many — they are few. Percy Bysshe Shelley, “The Masque of Anarchy” Related Articles: Ron Paul: This is Revolution Ron Paul: What if? Ron Paul: End The Fed Ron Paul’s “National Nightmare” Put These Stocks on the DO NOT BUY List To learn more about Wealth Daily click here Advertisement The Next GE Thanks to a push to revolutionize our power grid… A small group of hi-tech startups is about to take a major chunk out of a $297 billion/year market. In the coming years, these outfits will become the next GE, the next Google, and the next Microsoft. Get their names and ticker symbols now , before they take off. Ron Paul: Enough is Enough originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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The QE2 Rap Song

Filed in ben bernanke, depression, GOld juniors, Gold Market, lead, Ron Paul, ubs by on October 22, 2010 0 Comments

Rap is not exactly my style, but this is one I can understand all the way. It’s edgy and dead spot on. Remember that as you stare at the ceiling all night wrestling with the ghost of Tom Joad. After all, this was no boating accident. That being said here’s a video from a year ago that makes more sense everyday…. The battle rages on. Hayek is right by the way, speculative bubbles lead to malinvestment—big time. Just think what we could have done with the trillions spent on McMansions, granite countertops, and hot tubs. Related Articles: Ron Paul vs. Ben Bernanke Ron Paul: End The Fed Hoenig: QE2 Won’t Work Ben Plans, Markets Laugh To learn more about Wealth Daily click here Advertisement More than 12 times your money by 2012 The analyst who’s shown you an 86.6% “win” ratio on energy plays of as much as 225%, 373%, and 452% reveals the NEXT big North American oil winner… 1,239% gains by 2012 await those who click here now and get in on this high-tech $4-a-share driller before word gets out to the mainstream money media. The QE2 Rap Song originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Jim Grant on the Fed’s "Mission Creep"

Filed in ben bernanke, Gold Market, Ron Paul by on October 1, 2010 0 Comments

Here’s a great video from Jim Grant where he takes on among other things the “black art of central planning” the FED is so fond of. That’s something to think about as Ben Bernanke warms up to turn loose QE2. Great Stuff Jim. Have a great weekend. Related Articles: TKO: Ron Paul Pummels Bernanke POMO in Hand the PPT Strikes Again Ron Paul: Fed Secrecy is Wrong Ron Paul: End The Fed To learn more about Wealth Daily click here Advertisement Why the BP Disaster Could Multiply Your Money 5 Times by Next Year As millions of gallons of oil pour into the Gulf, there remains only one smart oil play on the market today… And this FREE report details exactly what that is. This rare opportunity to turn one company’s terrible mistake into a massive profit opportunity is now available for a short time. 508% gains could be yours by this time next year — and all the details are available right here. Jim Grant on the Fed’s “Mission Creep” originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Ron Paul: This is Revolution

Filed in ben bernanke, GOld juniors, Ron Paul by on September 17, 2010 0 Comments

Here’s the latest from Ron Paul in the wake of this week’s stunning election results. “This is revolution” says Paul as he continues to slap down the Keynesian credo. Food for thought… Have a great weekend. Related Articles: TKO: Ron Paul Pummels Bernanke The Boom Bust Rap Anthem Ron Paul vs. Ben Bernanke Ron Paul: End The Fed Ron Paul’s “National Nightmare” Ron Paul: Fed Secrecy is Wrong To learn more about Wealth Daily click here Advertisement It’s like getting a piece of the automobile market back in 1908. And not just Ford either. We’re talking about the market as a whole. Oil, rubber tires, road construction… the whole nine yards! Click here to learn more. Ron Paul: This is Revolution originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Sen. Harry Reid key player in Big Pharma’s control over Washington

Filed in gld, Gold, health care bill, lead, Ron Paul, ubs by on August 13, 2010 0 Comments

Mike Adams Natural News Aug 13, 2010 Corruption in Washington is nothing new. Lobbyists for special interests have been padding the pockets of amoral politicians for longer than most of us have been alive, and they’ve been doing so with the help of a controlled media that rarely presents the facts without shrouding them in terms of “left” or “right” in order to confuse people. But as you’ll see in this story, the corruption goes far deeper than most people realize, and a perfect example of this is the dishonorable legacy of Nevada Senator and U.S. Senate Majority Leader, Harry Reid. Reid was recently exposed for accepting large sums of money from Big Pharma in order to craft and guide the recently-passed health care bill in Big Pharma’s favor. Reid’s political career dates back to the 1960s. He’s been a member of Congress since 1982, and a Nevada Senator since 1986. And since the early days of his career, Reid has been accepting contributions from lobbyists as payment for political favors. One of the earliest stories I found about Reid accepting money from lobbyists is a 1987 Washington Post article about how Reid and several other Nevada politicians had accepted money from mob sources that had connections to the Nevada gaming industry . (The full text of the article is available for purchase, but the part about Reid is visible in the abstract for free). In 2006, Reid ranked tenth in Judicial Watch’s Ten Most Wanted Corrupt Politicians . According to the allegations, he failed to report a $700,000 land deal to Congress, and accepted $30,000 in bribe money from Nevada Indian gaming. Again in 2007, Reid made the same top ten list . This time, according to a report in the Los Angeles Times that year, Reid abused his power in Washington to negotiate a lucrative real estate deal for developer Havey Whittemore. The same report explained that Whittemore had contributed “tens of thousands of dollars” to Reid’s campaign, and hired Reid’s son, Leif, to act as the company’s lawyer in order to “negotiate” the deal with federal officials. Having A Supply Of Healthy Foods That Last Just Makes Sense There are likely other historical scandals involving Reid, but these should give you a taste of the type of activities in which you might typically find him engaged. (And you may want to check out Judicial Watch for yourself to see who else is on these lists; you might be surprised to see that politicians from both sides of the aisle regularly appear there). But the biggest issue I want to bring to your attention is Harry Reid’s open and obvious connections to Big Pharma, particularly in relation to the recent health care bill. This is perhaps the most damning and far-reaching scandal in Reid’s history yet, illustrating just how powerful Big Pharma is when it comes to controlling Washington for its own gain. Big Pharma used politicians like Harry Reid to steer health care reform According to a recent Washington Examiner article , Big Pharma has had its tentacles deeply intertwined in health legislation for years, and the industry has been involved in virtually …

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TKO: Ron Paul Pummels Bernanke

Filed in Gold, Gold Market, Ron Paul by on July 23, 2010 0 Comments
TKO: Ron Paul Pummels Bernanke

Here’s another classic exchange between Ron Paul and Ben Bernanke just one day after the Fed chief told Congress that the economic outlook was “unusually uncertain”. Given that Fed has failed miserably in its most basic functions, you’d have to think that Ron Paul was the last guy Ben would like to run into these days. Paul scores the TKO before Barney Frank steps in to end the vicious beating. Again… “All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation.” – John Adams Enough said. Have a great weekend. Related Articles: The Boom Bust Rap Anthem Ron Paul vs. Ben Bernanke Ron Paul: End The Fed Ron Paul’s “National Nightmare” Ron Paul: Fed Secrecy is Wrong To learn more about Wealth Daily click here Advertisement Why the BP Disaster Could Multiply Your Money 5 Times by Next Year As millions of gallons of oil pour into the Gulf, there remains only one smart oil play on the market today… And this FREE report details exactly what that is. This rare opportunity to turn one company’s terrible mistake into a massive profit opportunity is now available for a short time. 508% gains could be yours by this time next year — and all the details are available right here. TKO: Ron Paul Pummels Bernanke originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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