There's much at stake. Possibly a deciding seat on the Supreme Court of the Land. Possibly what some are calling a rogue president. But if you ask us all three of the major candidates, not to leave out those possible subs on the sidelines, look like rogues to us.
But that in our view is the least of our worries. The most dangerous thing in America today is the Federal Reserve Bank. We would say the out-of-control-feeling-their-way-in-the-dark Federal Reserve Bank but that would be a gross understatement.
These are hand picked, non-elected, appointed people. Vetted by whom, Congress? If Congress' public confidence ratings gets any lower, it will soon be whale dung on the ocean's floor. This is serious business. Joined by their global central bank comrades, the havoc these people are setting up is the real shock and awe awaiting this country.
And what's at stake here is your future, your liberty and that of your children and their children. Believe these bureaucrats and their MSM shills at your own peril. If you awoke one morning to discover you were just a few bucks short of being $43,000 in debt and so was every person in your household, your neighborhood, your county, your state and your country, how would you feel about that? Then there's a knock the door and someone from the government says he's there to collect.
All governments are rogue and rogue governments always try to inflate their way out of debt, the more crushing, the more obvious. Ask yourself why all these central banks are suddenly looking for a bit of. inflation. Praying in some circles might still be a proper term. We know what they tell us. But that's like the Big Rock Candy Mountain, a fantasy.
Deflation is about falling prices. It's about the increasing purchasing power of your money. When did deflation become Public Enemy Number One? When the Fed figured out it didn't understand and know how to deal with it? It's about creditors trumping debtors. The big squeeze is on. Printing money is a counterfeit form of low cost borrowing.
As we said, this is an election year. Your vote might not count for much, but your voice, that's a whole another matter. Below is an excerpt from James Grant of the Interest Rate Observer and it's link. Read it for yourself and decide. We are well aware of what awaits those who question the in-crowd. They'll roll out their trite package of epithets, gold bug, scaremonger, conspirator and no doubt a bunch more unseemly ones if need be.
The Fed has painted the country--maybe even the globe--into a horrible corner that really has only one of two ways out. But neither will pleasant when the time comes.
Deflation is about falling prices. It's about the increasing purchasing power of your money. When did deflation become Public Enemy Number One? When the Fed figured out it didn't understand and know how to deal with it? It's about creditors trumping debtors. The big squeeze is on. Printing money is a counterfeit form of low cost borrowing.
As we said, this is an election year. Your vote might not count for much, but your voice, that's a whole another matter. Below is an excerpt from James Grant of the Interest Rate Observer and it's link. Read it for yourself and decide. We are well aware of what awaits those who question the in-crowd. They'll roll out their trite package of epithets, gold bug, scaremonger, conspirator and no doubt a bunch more unseemly ones if need be.
The Fed has painted the country--maybe even the globe--into a horrible corner that really has only one of two ways out. But neither will pleasant when the time comes.
We always need protection against cockeyed economic experimentation. Once a national consensus on money and debt furnished this protective armor. Money was gold and debt was bad, Americans assumed. Most credentialed economists today will smile at these ancient prejudices. Allow me to suggest that our forebears knew something.
Keynes himself would recoil at 0% bank-deposit rates, chronically low economic growth and the towering trillions that we have so generously pledged to one another. (All we have to do now is earn the money to pay them.)
How do we escape from our self-constructed fiscal jail? According to the Government Accountability Office, unpaid taxes add up to more than $450 billion a year. Even so, according to the Tax Foundation, Americans spend6.1 billion hours and $233.8 billion each tax season complying with a federal tax code that runs to 10 million words. Are we quite sure we want no part of the flat-tax idea? An identical low rate on most incomes. No deductions, no H&R Block. Impractical? So is the debt.
So is the spending (and the promises to spend more down the road). We need to stop the squandermania. How? By resuming the principled fight that Vivien Kellems waged against the IRS during the Truman Administration. It enraged Kellems, a doughty Connecticut entrepreneur, that she was forced to withhold federal taxes from her employees’ wages. She called it involuntary servitude, and she itched to make her constitutional argument in court. She never got that chance, but she published her plan for a peaceful revolution.
She asked her readers–I ask mine–to really examine the stub of their paycheck. Observe how much your employer pays you and how much less you take home. Notice the dollars withheld for Medicare, Social Security and so forth. If you are like most of us, you stopped looking long ago. You don’t miss the income that you never get to touch.
Picking up where Kellems left off, I propose a slight alteration in payday policy. Let each wage-earning citizen hold the whole of his or her untaxed earnings–actually touch them. Then let the government pluck its taxes.
“Such a payroll policy,” wrote Kellems in her memoir, Taxes, Toil and Trouble, “is entirely legal and if it were universally adopted, in six months we would have either a tax revolution or a startling contraction of the budget!”
Black ink, sound money and the spirit of Vivien Kellems are the way forward. “Make America solvent again” is my credo and battle cry. You can fit it on a cap.
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