ECONOMICS AND THE STATE OF THE AMERICAN ECONOMY
If the American people ever allow the banks to control the issuance of their currency, first by inflation
and then
by deflation, the banks and corporations that will grow up around them will deprive the people
of all property until their
children will wake up homeless. I sincerely believe the banking institutions
(having the issuing power of money) are more
dangerous to liberty than standing armies. My zeal
against these institutions was so warm and open at the establishment of the
Bank of the United States (Hamilton's foreign system), that I was derided as a maniac by the tribe of bank mongers who were
seeking to filch from the public. —Thomas Jefferson
There is no means of avoiding the final collapse of a boom brought about by
credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of
further credit expansion, or later as a final and total catastrophe of the currency system involved."
— Ludwig von Mises
All previous attempts to base money solely on intangibles such as credit or government edict or fiat have ended in inflationary panic and disaster — Winston Churchill
“I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world . . . no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by opinion and duress of small groups of dominant men.” Woodrow Wilson (He was the President that signed the creation of the Federal Reserve into law in 1913.)
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. The one aim of these financiers is world control by the creation of inextinguishable debt.” Henry Ford
I've put a star in front of my favorites.
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News
Statistics
St. Louis Federal Reserve Financial Data
St. Louis Federal Reserve Economic Data
US Department of Commerce Economic Indicators
Education
An Introduction to Economic Reasoning
What Has Government Done to Our Money?
Ludwig von Mises Institute The premier source for learning reality based economics.
Foundation for Economic Freedom
Molinari Institute A website devoted to Market Anarchism, or laissez-faire economics.
Say's Law Wealth has to be produced before it can be consumed. The popular paradigm promotes consumption at the expense of wealth production. The shortfall is made up by the production of debt.
Money Primer Economics has sometimes been called the dismal profession. Without the academic balderdash, it's much more interesting. What passes for money today epitomizes the greatest economic fraud ever perpretated on the working masses. It's in your interest to learn where it leads. 12/1
Monetary History
The US economy is not likely to experience the kind of price hyperinflation associated with printing press money. It is debt inflation that has gone to heights never seen before in monetary history.
The Creature from Jekyll Island How and why the Federal Reserve was set up as a banking cartel.
Episodes of Inflation The phenomenon has repeated many times, always with the same results.
Monetary Episodes From History
Banking Before the Federal Reserve
Coin and bullion dealers - some sites contain excellent reading matter too
Coin info.com Source of local dealers and coin shows
Euro Pacific Capital check our the Perth Mint option for physical storage in Australia.
Gold Money Physical storage off the coast of France.
Bullion Vault Physical storage in New York, London or Zurich
Timeless Articles
Why the mainstream media never saw it coming Conventional wisdom is rewarded. The business of business and politics is to sell optimism. There is no risk in being wrong when everybody is wrong. When one predicts a recession, the vast majority will not act anyway. 2/22
A History of inflation around the globe Inflation is as old as the history of money. It stems from too much money being created in propotion to goods. 10/20
Interest rates and the business cycle - how government interference with prices creates business cycles. It was low interest rates that encouraged consumers to stop saving and borrow beyond their means. Goverment attempts to forestall the coming depression by borrowing and spending only makes matters worse. 1/19
Things that "can't" happen There's a complency about wrong predictions of a bad depression. That's only because the economic distortions have exceeded any rational expectations. 1/1
The Subprime Primer 45 page slide show explains the international debt crises brought on by the mortgage companies treating debt as collateral. It would be funny if it wasn't real. 2/22
The don't worry, be happy crowd Wall Street is betting you don't want to hear bad news. Read this if you dare. 10/16
Inflation in one page The general level of prices can't rise without massive increases in the supply of money. 5/5
How debt money goes broke Every dollar in circulation represents a dollar of debt and interest. The process is limited to the degree an economy can pay off the interest. Otherwise the compounding effect of interest outstrips any ability to pay down the debt.This is where the American economy is now. 4/5
Government spending hinders prosperity The politicians are on a spending binge because they believe it will head off the recession. It makes matters worse because they get their money by taxing, borrowing or creating new money. In essence, they take your money and give it back to you. 2/6
In Debt We Trust Feudalism has reemerged into a form called debt servititude. The banking and credit card industry are the nation's largest property owners. 7/4
Complexity theory and environmental management Michael Chrichton explains why interference in complex systems almost always produce negative results. Complex systems include ecosystems, market economics, biological systems and climate. Keep this in mind when you read about government efforts to save the economy from falling. It was government intervention in the market economy that wrecked it in the first place. 2/9
A brief historm of fiat money in the US There is no limit to how much money can be created, no limit to how much debt. As the cycle progress, prices increase faster until the currency losses all worth. 3/8
Past Articles
US credit markets are collapsing There is no way to stop it, though the effort will be made to try. 2/20
Real federal deficit is $4 trillion, not the reported $163 billion
Where was the media when the sub-prime disaster unfolded? Why you can't trust the mainstream media. I learned this lesson in the 60s by skimming through NY Times microfilms of the 1930s. Throughout those years, the Times parroted whatever their government sources told them. The people trusted government and the media and they paid dearly for it. Don't make that mistake. The links on politics and economics provide the sources you need to protect yourself while there is time. And there isn't much time left. 3/29
Another primer on derivatives and why they are so dangerous 3/16
Deratives the new ticking bomb This is a serious matter. Please read. Warren Buffet called them the "financial weapon of mass desctuction." 3/12
Hyperinflation Depression The mainstream media has been quiet about the economy lately, but you can't help notice sharp increases in food and gasoline. The Federal Government can't pay its bills with tax revenue and treasury bonds, and is financing its remaining deficits with new money. No one can predict with any certainty what course inflation will take, but it is certain that we are living in economically dangerous times. 5/1
The Depression Enters Phase Two The government keeps printing more money while asset prices are collapsing, commodity prices rising and the dollar falling. Credit in the private sector is drying out. This is not Chicken Little stuff. This is real and it can and will happen. 2/9
Inflation: America's greatest export And now it's being re-exported back to these shores in the form of higher consumer prices. 2/23
Housing crises spreading into banking crises. This is building up to something worse than we could ever imagine. It just takes a loss of 10% to 15% on housing loans to bankrupt the US banking system. Mortgages are due to reset to higher interest rates through 2011. So this is just beginning to snowball . 12/17
Impending Destruction Of the US Economy Due to unimaginable degrees of debt manipulation, the economy is far from as healthy as false statistics make it appear. This is a serious matter you should prepare for. 12/2
Federal Spending going throught the roof In 2006, Federal spending consumes 26% of the economy or $9,223 per man, woman and child. And worse, the spending has been accelerating. 10/12
Are the banks in trouble? Banks have taken in trillions of worthless debt. Their recklessness is likely to have a detrimental affect on your pensions and 401Ks. This is something on a scale of the 1930s. 9/16
Federal debt totals $53 trillion and growing It translates to $175,000 per American or 20 times annual revenue. What keeps the federal government afloat is its ability to create new money. 1/9
Mortgage, Wall Street and banking crises many magnitudes greater than reported in the news This is not just another dip like the many we've had since WWII. 11/7
The impossible task of the Fed The job of the Fed is to cover deficits and fight inflation. One is at odds with the other. The Fed has to cover deficits by creating new money to pay the deficits, thereby increasing inflation. 10/30
Are we headed for an epic bear market? A primer on how the banks got us into this mess and how serious it is. 10/2
Another Great Depression? The contagion is swiftly moving through the entire system taking down home owners, mortgage lenders, banks, rating agencies, and hedge funds. We are just at the beginning of a system-wide breakdown. 7/7
What happened to the American Economy?
The Hidden Cost Behind Global Debt
Private Debt Much Higher Than During the Great Depression
Modern Banking: the Cause of the Coming Economic Collapse
D is for Dominance, Debt & Depression
Secrets of the Federal Reserve
Government Rules Hide Trilions in Debt