U.S. President Barack Obama’s recently submitted budget proposal for 2015 revisits against U.S. coinage, its composition and cost. The President has shown an interest in updating and streamlining U.S. currency by cutting costs to production or eliminating altogether the smallest denominations since at least 2010, “in order to efficiently promote commerce in the 21st Century.” Both pennies and nickels cost some twice their face value to produce, despite the fact that the amount of copper and nickel contained within has been dramatically reduced. Canada is now a year into the apparently seamless and successful elimination of its penny coin. But the real significance of debasing or eliminating coins is an implicit acknowledgement that the dollar continues to fall in value, as do all fiat currencies in the world, and that no one has any intention of restoring that lost value.
Doing the Continental - The First U.S. Hypernflation
"If in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." George Washington, January 9, 1787
Nov 16 2013
Janet Yellen, soon to be the head of the privately-owned Federal Reserve Bank (Fed), isn't revealing much on the truth about interest rates. But there was a thread to pull on.
This piece unravels multiple deceptions.
If you agree this information is stunning, and quite different than what is read commonly in the media, please share it with those you care for, and sign up for our weekly letter.
From Janet Yellen’s April 4 speech, 2013:
Aug 09 2013
A federal judge ruled this week that Bitcoins, a “digital crypto currency” that has been touted as a potential free market alternative to traditional, government-controlled currencies, is legally money.
The ruling came up in a U.S. Securities and Exchange Commission lawsuit against Texan Trendan Shavers, who is charged with committing fraud in a Bitcoin Ponzi scheme worth millions of dollars, according to an NBC News report. Shavers attempted to counter the SEC charges by claiming that Bitcoins are not money, therefore shares of his company, Bitcoin Savings & Trust (BTCST), are not securities, and therefore the SEC has no jurisdiction. The U.S. District judge put the kibosh on Shavers’ argument, stating:
Aug 09 2013
May 29 2013
The European Commission, a group self-tasked with herding cats, has proclaimed the end of “austerity” in the Eurozone for governments, granted citizens will surely continue to feel quite austere. But what does this mean for Europeans and their economy moving forward?
Before we dive into it, we would add that absolutely no austerity was obtained in any EZ national budget, except perhaps where it was forced by plummeting tax receipts as a result of all-out economic collapse (Greece). See: What Austerity Measures?
Here were the Commission’s proclamations on deficits:
Apr 08 2013
Just east of Sacramento and right on the edge of the Sierra Nevada mountains lies a seemingly bucolic area that was, in the 1840s, the hub of the California Gold Rush. Today, more than 150 years later, this same region is beginning to experience a mining renaissance. Is it possible that California will experience a second Gold Rush and the economic boom period that accompanied it? Not likely, but there is enough renewed enthusiasm for mining in the state that miners are willing to take on even California’s notoriously onerous environmental hurdles in order to gain access to the “gold in them thar hills.”
In a recent news report for All Things Considered, NPR reporter Lauren Sommer visited the Lincoln Project Mine in Sutter Creek, California, where she saw first-hand the rebirth of mining in the “Mother Lode.” The Lincoln Project Mine is just one of several mines that mining companies either have opened or plan to open in the next few years. If you are wondering why these abandoned mines are re-opening after decades of disuse, the answer is simple: the steadily climbing price of gold.
Mar 21 2013
The trend of national repatriation of foreign-held gold reserves continues to accelerate. The latest and greatest is an initiative before Swiss voters to transfer the nation’s gold from storage beneath the streets of New York City back to Swiss shores. If approved by voters, the Swiss move is likely to impact the amount of gold available as security for transactions, the available supply of investment-grade gold and, ultimately, the price of gold against the dollar.
Mar 05 2013
If inflation is not the first topic that comes to mind when you read about food fraud, you are not alone. There is no immediate, intuitive connection between recent sensational headlines about horsemeat being found in so-called beef lasagnas and the concept of price inflation.
But in fact, it is price inflation that is causing food fraud. Everyone has experienced shrinking package sizes where price is maintained (quantitative easing), offsetting higher input costs.
However as per this recent Zerohedge article, quality and ingredient substitutions are now the rage:
Jan 28 2013
When the word is spoken, the United States of America comes to mind. Yet America titles an entire hemisphere, divided into both north and south, which is promptly forgotten by the legacy media. Not only are the lesser-debt-riddled western countries richer, they are many times more exciting. Then outgoing Chinese president Hu Jintao originally called “the present U.S. dollar-dominated currency system a product of the past,”and the “dictatorship” of the dollar swipe came from Venezuela’s Hugo Chavez.
Despite varying cultures and geographic locations, nations of all stripes are encouraging one another to move away from trade in dollars. Southern American nations in particular, just like families globally, have sought independence from the silent tax of the ubiquitous dollar, a tax which is currently set to increase alongside the rate of increasing supply.