Link to Zerohedge Article

"...Marc Faber to succinctly sum up the dilemma that the Fed faces (and by dilemma we mean, the plan) - "The more they print, the more inequality there is, the weaker the economy will become." Simply put, "it's a catastrophe," Faber told CNBC, "what the Fed has done is to lift asset prices, and the cost of living. In the meantime, the cost of living increases are higher than the wage increases. The typical American household income is going down in real terms." Recovery?

As George Washington wrote Thomas Jefferson on August 1, 1786, 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.

Paper is poverty, Jefferson, in turn, observed in 1788. It is only the ghost of money, and not money itself. In 1817, the author of the Declaration of Independence wrote that paper moneys abuses also are inevitable and, by breaking up the measure of value, make a lottery of all private property.

Paper money is unjust, declared James Madison, chief architect of the Constitution. It is unconstitutional, for it affects the rights of property as much as taking away equal value in land.

The Founders recognized the perils of legal-tender paper money, which coerces people to accept something that may be inherently worthless as is the case with our paper money today, says Dr. Lawrence M. Parks, Ph.D., executive director of the Foundation for the Advancement of Monetary Education (FAME) in New York City.

Why did the men who launched this nation disdain paper money? They had watched British-colonial governments debauch their currencies and, consequently, impoverish their citizens including some Founders.

"The greatest irony is that the President is railing against inequality as one of the most important problems of the day, despite the fact that his policies are squeezing the middle class and causing the Fed – with the President’s encouragement – to engage in the radical monetary policy, which is exacerbating inequality. This simple truth cannot be repeated often enough."

Six years of railing against anything Obama doesn't like. He has campaigned instead of governed. He runs down anyone
that does not think as he thinks, or act like he acts. Every speech. Every day. Instead of govern, he goes out and gives
speeches against something he dislikes. He has never even tried to be the president of the entire nation.

(06-22-2014 09:32 AM)GoApps70 Wrote:  "The greatest irony is that the President is railing against inequality as one of the most important problems of the day, despite the fact that his policies are squeezing the middle class and causing the Fed – with the President’s encouragement – to engage in the radical monetary policy, which is exacerbating inequality. This simple truth cannot be repeated often enough."
Six years of railing against anything Obama doesn't like. He has campaigned instead of governed. He runs down anyone that does not think as he thinks, or act like he acts. Every speech. Every day. Instead of govern, he goes out and gives speeches against something he dislikes. He has never even tried to be the president of the entire nation.

Exactly.

VOTE FOR MORE OF THE SAME IN 2016!

(06-22-2014 09:22 AM)ODU BLUE Wrote:  Why did the men who launched this nation disdain paper money? They had watched British-colonial governments debauch their currencies and, consequently, impoverish their citizens including some Founders.

Paper money and fractional currency becomes almost a necessity when a nation grows and we did fine with it for a long time. The problem is we did away with the fractional currency bit by bit until it was eliminated. Our money is now tied to only a promise. WTF happened to the gold and silver anyway?

I would again like to see our money attached again fractionally. There are other resources that could be used along with metals.

(06-22-2014 10:13 AM)ODU BLUE Wrote:  VOTE FOR MORE OF THE SAME IN 2016!

Im not a Hillary fan...but...she would have been far better than Obama. She is a liberal...not a socialist.

Give her a conservative House and Senate?...She would be fine.

The US monetary system is one of Fiat money, all the while we ae ruled mostly by executive fiat, that is by a president using power that isn't backed up by law. The other 2 branches of government, the SCOTUS and Congress (the people) has conceded power to the (1) the Fed. (a secret non-gov't controlled org.) and to the (2) executive branch who uses EO and regulation to usurp the constitution. The republic has been turned into a socialist monarchy using apathy and greed.

(06-22-2014 10:32 AM)SumOfAllFears Wrote:  The US monetary system is one of Fiat money, all the while we ae ruled mostly by executive fiat, that is by a president using power that isn't backed up by law. The other 2 branches of government, the SCOTUS and Congress (the people) has conceded power to the (1) the Fed. (a secret non-gov't controlled org.) and to the (2) executive branch who uses EO and regulation to usurp the constitution. The republic has been turned into a socialist monarchy using apathy and greed.

No disagreement here.

(06-22-2014 10:26 AM)Fo Shizzle Wrote:  

(06-22-2014 09:22 AM)ODU BLUE Wrote:  Why did the men who launched this nation disdain paper money? They had watched British-colonial governments debauch their currencies and, consequently, impoverish their citizens including some Founders.

Paper money and fractional currency becomes almost a necessity when a nation grows and we did fine with it for a long time. The problem is we did away with the fractional currency bit by bit until it was eliminated. Our money is now tied to only a promise. WTF happened to the gold and silver anyway?

I would again like to see our money attached again fractionally. There are other resources that could be used along with metals.

Fractional currency & the currency being tied to a standard are 2 different things. If a currency is tied to a mineral standard, then the countries who have that mineral within their boundaries would control the exchange rates.

(06-22-2014 09:22 AM)ODU BLUE Wrote:  Why did the men who launched this nation disdain paper money? They had watched British-colonial governments debauch their currencies and, consequently, impoverish their citizens including some Founders.

The truth about Continental Money

Link

There's a joke that Mark Faber has correctly predicted 15 of the last 6 recessions.

That said, his point is correct, and will only be exacerbated when headline inflation becomes an issue. Inflating the Fed's balance sheet does not create prosperity.

(06-22-2014 10:28 AM)Fo Shizzle Wrote:  

(06-22-2014 10:13 AM)ODU BLUE Wrote:  VOTE FOR MORE OF THE SAME IN 2016!

Im not a Hillary fan...but...she would have been far better than Obama. She is a liberal...not a socialist.

Give her a conservative House and Senate?...She would be fine.

yeah, famous last words. I guess you learned nothing from the last 6 years...or you are further to the left that I thought.

(06-22-2014 11:58 AM)oklalittledixie Wrote:  

(06-22-2014 10:28 AM)Fo Shizzle Wrote:  

(06-22-2014 10:13 AM)ODU BLUE Wrote:  VOTE FOR MORE OF THE SAME IN 2016!

Im not a Hillary fan...but...she would have been far better than Obama. She is a liberal...not a socialist.
Give her a conservative House and Senate?...She would be fine.

yeah, famous last words. I guess you learned nothing from the last 6 years...or you are further to the left that I thought.

But Hillary is well to the right of Obama. And Obama hasn't had a conservative house and senate. Not yet.

So there is every reason to believe that combination would work better than the last 6 years.

And I for one don't want a socially conservative house and senate and a socially conservative president. Unless possibly if they were all fiscal conservatives too, I'd live with the social conservatism to get the fiscal conservatism. But no GWB.