How Iran’s Supreme Leader Really Feels: “Annihilation Of The Murderous, Usurping Regime Of Israel Is The Only Cure”

If there was any doubt whether following the recent, and quite surprising, detente between the US and Iran, which from a state that was shunned by the US for decades has transformed into a country that has been actively courted by the US in recent months, that Iran would change its tune toward that other bossom US ally in the middle east, Israel, it can be put to reset following the latest pronouncement by Iran’s supreme leader Ayatollah Ali Khamenei, who on Wednesday called for a referendum canvassing the Arabs and Jews that live in Israel in order to end the “Zionist state.”

Khamenei and his predecessor the Ayatollah Rouhollah Khomeini have called repeatedly over the years for an end to the Jewish state, including through a referendum in the region, where Palestinians are in the majority.

 

In his first official comments on Israel since the start of its offensive on the Gaza Strip on July 8, Khamenei reiterated the call.

Khamenei won’t be making many, or any for that matter, friends in the AIPAC with the following harshly worded statement.

There are logical and practical means to this end, which is for people who live and belong there to pick the government of their choice through a referendum. That would be the end of a usurping fake regime,” Khamenei, who has the last word in all matters in Shi’te Muslim Iran, said in a speech to university students in Tehran.

 

Until then, Khamenei said, “while waiting for an end to this cold-blooded murderous regime, mighty armed resistance is the only way to deal with it.

 

Khamenei made clear for the first time that he was talking about the dismantling of the state of Israel, not the death of Jews.

 

Israel’s annihilation is the only real cure, but that doesn’t mean destroying Jews in this region,” he said in his speech, which was posted on his website.

As noted above, this comes at a time when Iran’s new president Hassan Rouhani is trying to improve ties with Western countries, including the United States, in a public relations war with Israel. In addition to the Ayatollah’s statement, Iran will mark “International Qods Day,” an annual event falling on the last Friday of Ramadan, with nationwide organised demonstrations in solidarity with Palestinians and against Israel.

* * *

Then again, one wonders: while clearly this dramatic theatrical performance is for popular consumption, one wonders what is really happening behind the scenes?

For the answer we go back to our post from February in which we explained that “US And Israel Quietly Provide Military Support And Parts To Iran, Which In Turn Is Arming Syria.”

And now you know.




via Zero Hedge http://ift.tt/1ujEYOz Tyler Durden

Useful Idiots and the Something For Nothing Society – Part 1 of 3

 

 

 

 

 

 









image

Useful Idiots and the Something For Nothing Society – Part 1 of 3

July 24, 2014

                            Send To A Friend | View Past Articles | Subscribe
 

This week’s TedBits is as important a commentary as any I have ever written in my 10+ years writing Austrian analysis of the unfolding world macroeconomics and geopolitical situation.  It covers the origins, causes and destinations we are headed for, the participants, historical context and the future based upon past episodes: Past, present and future so to speak.  I hope you enjoy it.  Best wishes Ty.
 
Adam Smith in his seminal book, Wealth of Nations, outlined how all great empires rest upon an educated, productive and prosperous citizenry.  The United States is no exception as its schools over the centuries from grade school to colleges provided the teachings of history, reading and writing, logic, self-reliance, independence and the principles of the constitutional republic brought to us by our founding fathers and God.  The United States was founded by people seeking shelter from Despots, authoritarian governments and dictators.  Independent souls who were not afraid of providing for themselves, who wanted freedom of religion, and who were willing to strike out into the wilderness to flourish or die.  And flourish they did, as did their children and grandchildren. They created the greatest empire in history, the most freedom, the least government, the greatest wealth and middle classes as never seen in history. 
 
Now, this is coming to an end.  The assault on the wealth (citizens)  and freedoms of the United States began with Teddy Roosevelt and Woodrow Wilson (created the Federal Reserve) a century ago.  With a BIG BOOST from progressive liberal Franklin Delano Roosevelt and the creation of the Second Bill of Rights.  The progressive movement goal of transforming the United States from a Capitalist constitutional republic to a progressive socialist democracy has been underway for over 100 years and its realization spells the demise of the greatest country ever known.  We are near the final denouement of economic collapse and destruction of our monetary and financial system caused by their policies.  Ultimately, these PROGRSSIVE men and their supporters transform their societies from the production of great wealth, also known as CAPITALISM, to the consumption of it, known as SOCIALISM (the Orwellian name they use is DEMOCRACY).  This final conversion of capitalist economies in the developed world to SOCIALIST economies was set in motion in the developed world at Bretton Woods II.
 
As empires enter the sunset of their existence, a malignancy of a “Something for Nothing” society emerges which has put the nails in the coffins of every empire that has preceded it. They are a man-made personality/societies created by the powers that be to be sheeple and serfs to the most corrupt at the top of the societies who they have placed their trust in.  These elites have forgotten how to create and maintain the policies of wealth creation.  Socialism is the consumption and redistribution of wealth not the production of it.  The something for nothings/useful idiots cannot produce more than they consume.  They are CRIPPLED by the system they inhabit and it is man made by those who control society.  They are not taught the lessons of history, how wealth is created and where it comes from, or how to think for themselves. They are not given any of the skills and habits of successful living and prudent lifestyles, creating legions of people DEPENDANT on Government or thinking they are helpless to help themselves.  They are ROBBED of their futures by the powers that be. 
 
They are created by public school monopolies as espoused by Karl Marx and Vladimir Lenin who called them USEFUL IDIOTS.  They are the mob. One of the primary missions of the constitution was to protect the minorities among us from the majorities.  Most people think just because they are born that intelligence follows.  No, if that was the case the world would be a highly productive and prosperous place.  Humans are like pieces of clay; they are molded just as a sculpture is.  The people in charge of our schools have broken the old mold that created the most successful and wealthy society in the history of mankind and created more wealth and prosperity for more people in history.   And substituted it with one that is RIGGED against the public, creates the foundations of failed socialist states, and turned their futures from BRIGHT to BLEAK.  I have put a video of George Carlin at the end of this missive and he has it completely correct that the elites who control society have no interest in creating citizens who can challenge them.  They are created to serve the elites in a type of quiet desperation.
 
The elites that George Carlin speaks of were left out of a having a place in the United States by the founding fathers, INTENTIONALLY.  Their core comes from the multi-century banking houses such as the Rothschild’s, Warburg’s, Rockefellers (female side of the Rothschild’s) and JP Morgan’s of history.  These families have been preying on men for over 400 years; playing the booms and busts their banking models create to acquire one way or another over 60% of all wealth in the world over that period.  They understand and exploit the difference between real tangible wealth and paper wealth with no tangible value (leverage and credit created out of thin air through their central banking monopolies) which create the oscillations necessary to sell at the top and buy at the bottom. They are masters of the game and own virtually every politician, and government. The constitution had many clauses which sought to prevent them gaining a foothold here.  Divided government, prohibiting a PRIVATELY OWNED central bank, PRIVATE classical education (reading, writing and arithmetic) and a constitutional requirement for sound money were the primary barriers to them.  Those barriers have now been dismantled in one manner or another and the tenets of Marxism/socialism have been substituted.
 
"Let me issue and control a nation's money supply, and I care not who makes its laws."

– Mayer Amschel Rothschild

 
It has been accomplished slowly but surely over the last 100 plus years.  As Socialism displaces wealth creation, the world’s economies are constantly shrinking in real terms.  As the economic pie shrinks, they resort to measures which create more for them and less for the public at large.  Using unsound money, crony capitalism, and an ever expanding welfare state (redistribution of wealth from the makers to the takers) to create a NET under their supporters and victims, which are one and the same.

There are FIVE ELEMENTS to CREATING a SOMETHING-for-NOTHING society:

  1. http://ift.tt/1gGYaQe);”>The first and most important element is the creation of UNSOUND money (control of the central bank), the destruction of private property rights and confiscation/destruction of freedom through RUNAWAY economic regulations. The Something for Nothing society destroys all incentives to produce wealth, as it will be confiscated in one manner or another (inflation or taxes).
  2. http://ift.tt/1gGYaQe);”>A CENTRALLY controlled public school system to destroy the wealth of the nation by crippling the ability of citizens to solve problems, be economically productive and self-reliant, think for themselves, and understand history to learn its lessons.
  3. http://ift.tt/1gGYaQe);”>A mainstream media that reports misinformation as fact to manipulate the masses (useful idiots created by the public school monopoly) for the benefit of socialists and elites who control things.
  4. http://ift.tt/1gGYaQe);”>Make a middle class into SERFS and slaves to government and banks in one form or another.  Create desperation for growth and personal progress in their lives.
  5. http://ift.tt/1gGYaQe);”>Embrace the very leaders who have preyed upon them and support them in ROBBING the very parts of their economies which are the only hope of a prosperous future (freedom, capitalism, sound money and hard work) – aka KILLING the GOLDEN Goose.

THE CREATION OF UNSOUND MONETARY SYSTEM

Money is now a government sponsored monopoly designed to change the private sector into a land of serfs to governments (socialists) and Private banksters.  (Can anyone reading this article give me one example of a monopolist who served its customers more than it served themselves?)  Woodrow Wilson in 1913 sold Americans down the river in exchange for UNLIMITED funding for EXPANDING progressive government and his campaign.  He also implemented the INCOME tax a concept that the founding fathers also tried to prohibit.  The road to the serfdom  and ultimate demise of Capitalism and the United States began at this time.

7181
 

 "I believe that banking institutions are more dangerous to our liberties than standing armies.  If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property – until their children wake-up homeless on the continent their fathers conquered."  

– Thomas Jefferson

Thomas Jefferson is one of the greatest Founding fathers of the United States speaking of the privately owned Federal Reserve, a bank who was given a monopoly on the creation of money and credit in the UNITED STATES.  From that point forward the economy is and has been run for the BENEFIT of the BANKING systems.  Of course, we are at the conclusion of this process today.   The next wave of deflation, insolvency and credit failures will usher in the next wave of confiscation by the banking and financial systems.. 
 
The Dollar was remade into a semi-sound monetary system, but fractional reserve banking began its insidious rise in 1913.  Booms and Busts became the GAME plan, not the prevention of them as was presented to the public.  The independent private banks around the country became the game to be hunted by the central bank known as the Federal Reserve and its owners scattered geographically around the country and the BIG New York commercial banks were its owners.  The great depression was just an episode of a business plan that BANKSTERS have had in place for over 400 years.  They took what was yours and made it theirs. You owned it at the top and, when the leverage FAILED, they bought it at the bottom… with what else?  “Money printed out of THIN AIR”.  The busts of 1973, 1982, 2000 and 2008 were also episodes of asset transfers from you to them using their business plan.  The big commercial banks also known as too big to fail are part of the cabal participating.
 
After World War II, the global financial systems and most developed world economies lay in shambles.  To the victor went the spoils and the United States had gathered most of the gold in Europe and Asia during the battles and transferred it to the United States.  It did not want to return the spoils of war (Gold) so a new monetary system was created with the dollar as the world’s currency.  At Bretton Woods, in New Hampshire in 1944, it was reformed with the dollar redeemable in Gold by central banks but the currencies systems of the central banks who were party to the agreement were required to run FIAT currency and credit systems.   This is when the term the “Dollar is as good as gold” began. It also led to the world’s central banks creditably saying their currencies were back by gold by simply holding dollars as reserves.
 
The US started printing away and was when Lyndon Johnson implemented the great society programs of welfare, and simultaneously was involved in the Vietnam War. Central banks, seeing the debasement of their RESERVES, began repatriating their gold.  This proverbial run on the bank lasted until the US gold reserve had been cut by about 80% since Bretton Woods I.  In order to preserve some of the United States GOLD holdings, Richard Nixon closed the central bank gold window in August 1971.
 
In 1971, Richard Nixon, a big Government progressive in conservative clothing, betrayed the world when he tore the final foundations of sound money from the reserve currency of the world and exchanged worthless IOU’s redeemable in NOTHING in exchange for them.  The concept of private property was destroyed on that day, only very few knew it.  It was the greatest THEFT in HISTORY and succeeded because no one really knew what money was anymore.  What sound money had been dropped from school curriculums decades earlier.  Humans worldwide no longer had a sound place to store their labor and wealth.

7182 

This is a picture of the destruction of the money people are paid and store their wealth in. It is a picture of the middle class being destroyed by unsound money. As a store of value and purchasing power, it is obviously on its way to WORTHLESSNESS!

  1. http://ift.tt/1gGYaQe);”>Gold is the currency of KINGS
  2. http://ift.tt/1gGYaQe);”>Silver is the currency of MERCHANTS
  3. http://ift.tt/1gGYaQe);”>Credit is the currency of SLAVES
  4. http://ift.tt/1gGYaQe);”>Credit is NOT MONEY

In August 1971, Americans went from the top two categories to the bottom two categories in one fell swoop!   Money is now a government sponsored monopoly designed to change the private sector into a land of serfs to governments and banksters. In exchange for UNLIMITED funding for government, the economy is run for the BENEFIT of the BANKING systems.

THIS IS WHY THE MIDDLE class is GONE, killed by the governments and banking systems they have placed their trust in. UNSOUND MONEY has:

  1. http://ift.tt/1gGYaQe);”>allowed Public servants to COVER up POOR economic policies with artificial demand and FAKE GDP created by issuing credit and growing government, bringing forward demand and borrowing from the future.
  2. http://ift.tt/1gGYaQe);”>allowed government and credit to grow in an unlimited fashion and far in excess of inflation and economic growth.
  3. http://ift.tt/1gGYaQe);”>implemented redistribution of wealth from the private sector to the public sector and banking systems.
  4. http://ift.tt/1gGYaQe);”>allowed Governments (though deficit spending and currency debasement) and bankers to absorb the income and wealth of the private sector through runaway currency and credit growth.

…and set in motion the final demise of the capitalist systems which had created the prosperity of the developed on a scale previously unknown by man:

“The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate secretly and unobserved, an important part of the wealth of their citizens… There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

– John Maynard Keynes

At Bretton Woods II, The Capitalist Economic model was PERMANENTLY changed to Progressive Socialist model!

From: producing more than you consume, creating capital, wealth and savings for future investment in productive ventures.

To: Consuming more than you produce and borrowing from the future creating growth and economic activity predicated on always expanding credit and consumption of wealth rather than living within ones means, producing more than you consume and creating wealth!  The CAPITALIST economic model was TURNED UPSIDE DOWN, and INSIDE OUT.

The Something for Nothing society was BORN! Instead of taxes from a growing private sector, the government could just borrow it (putting its citizens in debt) or print it out of thin air!

“In the end all paper money returns to its intrinsic value: worthless”

– Voltaire

“Nations are not ruined by one act of violence, but gradually and in an almost imperceptible manner by the depreciation of their circulating currency, through excessive quantity”

– Nicholas Copernicus

“Gold is money, everything else is just credit.”  

– JP Morgan

"Paper is poverty. It is only the ghost of money, and not money itself."

– Thomas Jefferson

In conclusion, the path to the future is firmly inculcated into society today.   It is like a stone rolling downhill, or being below the event horizon of a black hole:  UNSTOPPABLE!  I am writing this tome to let you see this progression and unfolding debacle so that you can prepare yourselves. Austrian economics is extremely PREDICTIVE, as it is history repeating and common sense as outlined by Ludwig Von Mises, Frederic Hayak and many more too numerous to mention.   May God Bless them all for giving us their wisdom and roadmaps to today’s issues.   

Part two of three of this commentary “Useful Idiots and the Something for Nothing Society” will cover more of the five elements bringing us to where we find ourselves today.  It will be sent out next week to your favorite website, posted to our blog at www.TedBits.com,  or you can have it delivered into you inbox by subscribing. Subscriptions are free CLICK HERE.

Wishful thinking or living with rose colored glasses will not serve you well.  We all  need to see reality, work to restore what elements we can, and plan for the worse and hope for the best in our personal lives.  There are many things you can do personally to insulate yourselves from much of the chaos and capitalize on it as well.  I have always said that this is the greatest opportunity in history and I continue to believe this.  Applied Austrian economics and a great grasp of history can help you turn lemons to lemonade.  I am working to turn a light on and let you connect the dots, which so many fail to do.  May God bless you and see you next week!
 


Author’s Note: In my opinion the greatest manmade disaster and OPPORTUNITY in history is unfolding in every corner of the world. Are you diversified or operating with EYES WIDE SHUT? Are you prepared to turn it into opportunity by properly diversifying your portfolio? Adding absolute return investments which are designed with the potential to thrive (up and down markets) regardless of what unfolds economically or politically? This is what I do for investors; help them diversify into investments which are created to potentially thrive in the storm. For a personal consultation with me CLICK HERE!


 
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Gold and silver backed means that various commodity options strategies in gold and/or silver may be used. When buying options, you may lose all of the money paid for the option. When selling options, you may lose more than the funds received for selling the option. Strategies using combinations of positions, such as spreads or straddles, may be as risky as taking a simple long or short position. A high degree of leverage is used to buy or sell a sufficient quantity of options and/or underlying futures contracts equal to the value of the entire portfolio. The high degree of leverage can work against you as well as for you and lead to large losses as well as large gains. Absolute-return is not meant to imply that a positive return can or will be achieved. Absolute-return describes investment strategies which are designed to have the potential to succeed in rising, market-neutral and falling market conditions. Gold and silver backed and absolute return investments do not mean the investor will take actual physical possessions of any precious metal. Nor should any promise or guarantee be implied that such investments will perform better than any other investment in any possible future scenario described herein nor that such investments can or will preserve or protect in such possible future scenarios.

TedBits may include information obtained from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made to ensure its accuracy or completeness. Many of the statements and views made are the opinions of the author. Opinions expressed are subject to change without notice. This report is not a request to engage in any transaction involving the purchase or sale of futures contracts or options on futures. There is a substantial risk of loss associated with trading futures, foreign exchange and options on futures. This letter is not intended as investment advice, and its use in any respect is entirely the responsibility of the user. Past performance in never a guarantee of future results.

 
 


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via Zero Hedge http://ift.tt/1pMLUgk tedbits

Useful Idiots and the Something For Nothing Society – Part 1 of 3









image

Useful Idiots and the Something For Nothing Society – Part 1 of 3

July 24, 2014

                            Send To A Friend | View Past Articles | Subscribe
 

This week’s TedBits is as important a commentary as any I have ever written in my 10+ years writing Austrian analysis of the unfolding world macroeconomics and geopolitical situation.  It covers the origins, causes and destinations we are headed for, the participants, historical context and the future based upon past episodes: Past, present and future so to speak.  I hope you enjoy it.  Best wishes Ty.
 
Adam Smith in his seminal book, Wealth of Nations, outlined how all great empires rest upon an educated, productive and prosperous citizenry.  The United States is no exception as its schools over the centuries from grade school to colleges provided the teachings of history, reading and writing, logic, self-reliance, independence and the principles of the constitutional republic brought to us by our founding fathers and God.  The United States was founded by people seeking shelter from Despots, authoritarian governments and dictators.  Independent souls who were not afraid of providing for themselves, who wanted freedom of religion, and who were willing to strike out into the wilderness to flourish or die.  And flourish they did, as did their children and grandchildren. They created the greatest empire in history, the most freedom, the least government, the greatest wealth and middle classes as never seen in history. 
 
Now, this is coming to an end.  The assault on the wealth (citizens)  and freedoms of the United States began with Teddy Roosevelt and Woodrow Wilson (created the Federal Reserve) a century ago.  With a BIG BOOST from progressive liberal Franklin Delano Roosevelt and the creation of the Second Bill of Rights.  The progressive movement goal of transforming the United States from a Capitalist constitutional republic to a progressive socialist democracy has been underway for over 100 years and its realization spells the demise of the greatest country ever known.  We are near the final denouement of economic collapse and destruction of our monetary and financial system caused by their policies.  Ultimately, these PROGRSSIVE men and their supporters transform their societies from the production of great wealth, also known as CAPITALISM, to the consumption of it, known as SOCIALISM (the Orwellian name they use is DEMOCRACY).  This final conversion of capitalist economies in the developed world to SOCIALIST economies was set in motion in the developed world at Bretton Woods II.
 
As empires enter the sunset of their existence, a malignancy of a “Something for Nothing” society emerges which has put the nails in the coffins of every empire that has preceded it. They are a man-made personality/societies created by the powers that be to be sheeple and serfs to the most corrupt at the top of the societies who they have placed their trust in.  These elites have forgotten how to create and maintain the policies of wealth creation.  Socialism is the consumption and redistribution of wealth not the production of it.  The something for nothings/useful idiots cannot produce more than they consume.  They are CRIPPLED by the system they inhabit and it is man made by those who control society.  They are not taught the lessons of history, how wealth is created and where it comes from, or how to think for themselves. They are not given any of the skills and habits of successful living and prudent lifestyles, creating legions of people DEPENDANT on Government or thinking they are helpless to help themselves.  They are ROBBED of their futures by the powers that be. 
 
They are created by public school monopolies as espoused by Karl Marx and Vladimir Lenin who called them USEFUL IDIOTS.  They are the mob. One of the primary missions of the constitution was to protect the minorities among us from the majorities.  Most people think just because they are born that intelligence follows.  No, if that was the case the world would be a highly productive and prosperous place.  Humans are like pieces of clay; they are molded just as a sculpture is.  The people in charge of our schools have broken the old mold that created the most successful and wealthy society in the history of mankind and created more wealth and prosperity for more people in history.   And substituted it with one that is RIGGED against the public, creates the foundations of failed socialist states, and turned their futures from BRIGHT to BLEAK.  I have put a video of George Carlin at the end of this missive and he has it completely correct that the elites who control society have no interest in creating citizens who can challenge them.  They are created to serve the elites in a type of quiet desperation.
 
The elites that George Carlin speaks of were left out of a having a place in the United States by the founding fathers, INTENTIONALLY.  Their core comes from the multi-century banking houses such as the Rothschild’s, Warburg’s, Rockefellers (female side of the Rothschild’s) and JP Morgan’s of history.  These families have been preying on men for over 400 years; playing the booms and busts their banking models create to acquire one way or another over 60% of all wealth in the world over that period.  They understand and exploit the difference between real tangible wealth and paper wealth with no tangible value (leverage and credit created out of thin air through their central banking monopolies) which create the oscillations necessary to sell at the top and buy at the bottom. They are masters of the game and own virtually every politician, and government. The constitution had many clauses which sought to prevent them gaining a foothold here.  Divided government, prohibiting a PRIVATELY OWNED central bank, PRIVATE classical education (reading, writing and arithmetic) and a constitutional requirement for sound money were the primary barriers to them.  Those barriers have now been dismantled in one manner or another and the tenets of Marxism/socialism have been substituted.
 
"Let me issue and control a nation's money supply, and I care not who makes its laws."

– Mayer Amschel Rothschild

 
It has been accomplished slowly but surely over the last 100 plus years.  As Socialism displaces wealth creation, the world’s economies are constantly shrinking in real terms.  As the economic pie shrinks, they resort to measures which create more for them and less for the public at large.  Using unsound money, crony capitalism, and an ever expanding welfare state (redistribution of wealth from the makers to the takers) to create a NET under their supporters and victims, which are one and the same.

There are FIVE ELEMENTS to CREATING a SOMETHING-for-NOTHING society:

  1. http://ift.tt/1gGYaQe);”>The first and most important element is the creation of UNSOUND money (control of the central bank), the destruction of private property rights and confiscation/destruction of freedom through RUNAWAY economic regulations. The Something for Nothing society destroys all incentives to produce wealth, as it will be confiscated in one manner or another (inflation or taxes).
  2. http://ift.tt/1gGYaQe);”>A CENTRALLY controlled public school system to destroy the wealth of the nation by crippling the ability of citizens to solve problems, be economically productive and self-reliant, think for themselves, and understand history to learn its lessons.
  3. http://ift.tt/1gGYaQe);”>A mainstream media that reports misinformation as fact to manipulate the masses (useful idiots created by the public school monopoly) for the benefit of socialists and elites who control things.
  4. http://ift.tt/1gGYaQe);”>Make a middle class into SERFS and slaves to government and banks in one form or another.  Create desperation for growth and personal progress in their lives.
  5. http://ift.tt/1gGYaQe);”>Embrace the very leaders who have preyed upon them and support them in ROBBING the very parts of their economies which are the only hope of a prosperous future (freedom, capitalism, sound money and hard work) – aka KILLING the GOLDEN Goose.

THE CREATION OF UNSOUND MONETARY SYSTEM

Money is now a government sponsored monopoly designed to change the private sector into a land of serfs to governments (socialists) and Private banksters.  (Can anyone reading this article give me one example of a monopolist who served its customers more than it served themselves?)  Woodrow Wilson in 1913 sold Americans down the river in exchange for UNLIMITED funding for EXPANDING progressive government and his campaign.  He also implemented the INCOME tax a concept that the founding fathers also tried to prohibit.  The road to the serfdom  and ultimate demise of Capitalism and the United States began at this time.

7181
 

 "I believe that banking institutions are more dangerous to our liberties than standing armies.  If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property – until their children wake-up homeless on the continent their fathers conquered."  

– Thomas Jefferson

Thomas Jefferson is one of the greatest Founding fathers of the United States speaking of the privately owned Federal Reserve, a bank who was given a monopoly on the creation of money and credit in the UNITED STATES.  From that point forward the economy is and has been run for the BENEFIT of the BANKING systems.  Of course, we are at the conclusion of this process today.   The next wave of deflation, insolvency and credit failures will usher in the next wave of confiscation by the banking and financial systems.. 
 
The Dollar was remade into a semi-sound monetary system, but fractional reserve banking began its insidious rise in 1913.  Booms and Busts became the GAME plan, not the prevention of them as was presented to the public.  The independent private banks around the country became the game to be hunted by the central bank known as the Federal Reserve and its owners scattered geographically around the country and the BIG New York commercial banks were its owners.  The great depression was just an episode of a business plan that BANKSTERS have had in place for over 400 years.  They took what was yours and made it theirs. You owned it at the top and, when the leverage FAILED, they bought it at the bottom… with what else?  “Money printed out of THIN AIR”.  The busts of 1973, 1982, 2000 and 2008 were also episodes of asset transfers from you to them using their business plan.  The big commercial banks also known as too big to fail are part of the cabal participating.
 
After World War II, the global financial systems and most developed world economies lay in shambles.  To the victor went the spoils and the United States had gathered most of the gold in Europe and Asia during the battles and transferred it to the United States.  It did not want to return the spoils of war (Gold) so a new monetary system was created with the dollar as the world’s currency.  At Bretton Woods, in New Hampshire in 1944, it was reformed with the dollar redeemable in Gold by central banks but the currencies systems of the central banks who were party to the agreement were required to run FIAT currency and credit systems.   This is when the term the “Dollar is as good as gold” began. It also led to the world’s central banks creditably saying their currencies were back by gold by simply holding dollars as reserves.
 
The US started printing away and was when Lyndon Johnson implemented the great society programs of welfare, and simultaneously was involved in the Vietnam War. Central banks, seeing the debasement of their RESERVES, began repatriating their gold.  This proverbial run on the bank lasted until the US gold reserve had been cut by about 80% since Bretton Woods I.  In order to preserve some of the United States GOLD holdings, Richard Nixon closed the central bank gold window in August 1971.
 
In 1971, Richard Nixon, a big Government progressive in conservative clothing, betrayed the world when he tore the final foundations of sound money from the reserve currency of the world and exchanged worthless IOU’s redeemable in NOTHING in exchange for them.  The concept of private property was destroyed on that day, only very few knew it.  It was the greatest THEFT in HISTORY and succeeded because no one really knew what money was anymore.  What sound money had been dropped from school curriculums decades earlier.  Humans worldwide no longer had a sound place to store their labor and wealth.

7182 

This is a picture of the destruction of the money people are paid and store their wealth in. It is a picture of the middle class being destroyed by unsound money. As a store of value and purchasing power, it is obviously on its way to WORTHLESSNESS!

  1. http://ift.tt/1gGYaQe);”>Gold is the currency of KINGS
  2. http://ift.tt/1gGYaQe);”>Silver is the currency of MERCHANTS
  3. http://ift.tt/1gGYaQe);”>Credit is the currency of SLAVES
  4. http://ift.tt/1gGYaQe);”>Credit is NOT MONEY

In August 1971, Americans went from the top two categories to the bottom two categories in one fell swoop!   Money is now a government sponsored monopoly designed to change the private sector into a land of serfs to governments and banksters. In exchange for UNLIMITED funding for government, the economy is run for the BENEFIT of the BANKING systems.

THIS IS WHY THE MIDDLE class is GONE, killed by the governments and banking systems they have placed their trust in. UNSOUND MONEY has:

  1. http://ift.tt/1gGYaQe);”>allowed Public servants to COVER up POOR economic policies with artificial demand and FAKE GDP created by issuing credit and growing government, bringing forward demand and borrowing from the future.
  2. http://ift.tt/1gGYaQe);”>allowed government and credit to grow in an unlimited fashion and far in excess of inflation and economic growth.
  3. http://ift.tt/1gGYaQe);”>implemented redistribution of wealth from the private sector to the public sector and banking systems.
  4. http://ift.tt/1gGYaQe);”>allowed Governments (though deficit spending and currency debasement) and bankers to absorb the income and wealth of the private sector through runaway currency and credit growth.

…and set in motion the final demise of the capitalist systems which had created the prosperity of the developed on a scale previously unknown by man:

“The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate secretly and unobserved, an important part of the wealth of their citizens… There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

– John Maynard Keynes

At Bretton Woods II, The Capitalist Economic model was PERMANENTLY changed to Progressive Socialist model!

From: producing more than you consume, creating capital, wealth and savings for future investment in productive ventures.

To: Consuming more than you produce and borrowing from the future creating growth and economic activity predicated on always expanding credit and consumption of wealth rather than living within ones means, producing more than you consume and creating wealth!  The CAPITALIST economic model was TURNED UPSIDE DOWN, and INSIDE OUT.

The Something for Nothing society was BORN! Instead of taxes from a growing private sector, the government could just borrow it (putting its citizens in debt) or print it out of thin air!

“In the end all paper money returns to its intrinsic value: worthless”

– Voltaire

“Nations are not ruined by one act of violence, but gradually and in an almost imperceptible manner by the depreciation of their circulating currency, through excessive quantity”

– Nicholas Copernicus

“Gold is money, everything else is just credit.”  

– JP Morgan

"Paper is poverty. It is only the ghost of money, and not money itself."

– Thomas Jefferson

In conclusion, the path to the future is firmly inculcated into society today.   It is like a stone rolling downhill, or being below the event horizon of a black hole:  UNSTOPPABLE!  I am writing this tome to let you see this progression and unfolding debacle so that you can prepare yourselves. Austrian economics is extremely PREDICTIVE, as it is history repeating and common sense as outlined by Ludwig Von Mises, Frederic Hayak and many more too numerous to mention.   May God Bless them all for giving us their wisdom and roadmaps to today’s issues.   

Part two of three of this commentary “Useful Idiots and the Something for Nothing Society” will cover more of the five elements bringing us to where we find ourselves today.  It will be sent out next week to your favorite website, posted to our blog at www.TedBits.com,  or you can have it delivered into you inbox by subscribing. Subscriptions are free CLICK HERE.

Wishful thinking or living with rose colored glasses will not serve you well.  We all  need to see reality, work to restore what elements we can, and plan for the worse and hope for the best in our personal lives.  There are many things you can do personally to insulate yourselves from much of the chaos and capitalize on it as well.  I have always said that this is the greatest opportunity in history and I continue to believe this.  Applied Austrian economics and a great grasp of history can help you turn lemons to lemonade.  I am working to turn a light on and let you connect the dots, which so many fail to do.  May God bless you and see you next week!
 


Author’s Note: In my opinion the greatest manmade disaster and OPPORTUNITY in history is unfolding in every corner of the world. Are you diversified or operating with EYES WIDE SHUT? Are you prepared to turn it into opportunity by properly diversifying your portfolio? Adding absolute return investments which are designed with the potential to thrive (up and down markets) regardless of what unfolds economically or politically? This is what I do for investors; help them diversify into investments which are created to potentially thrive in the storm. For a personal consultation with me CLICK HERE!


 
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TedBits may include information obtained from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made to ensure its accuracy or completeness. Many of the statements and views made are the opinions of the author. Opinions expressed are subject to change without notice. This report is not a request to engage in any transaction involving the purchase or sale of futures contracts or options on futures. There is a substantial risk of loss associated with trading futures, foreign exchange and options on futures. This letter is not intended as investment advice, and its use in any respect is entirely the responsibility of the user. Past performance in never a guarantee of future results.

 
 


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via Zero Hedge http://ift.tt/1pMLSVU tedbits

Silver Tumbles Most In 6 Months

Silver is down almost 3% today – its biggest drop since the end of January as precious metals both tumble back towards pre-June-FOMC levels. News on China demand appears to be the main catalyst according to desk chatter (as well as a break through the key 50-day and 100-day moving-averages) with gold testing down to its 200-day moving average at $1286.

 

Worst day for Silver in 6 months…

 

Precious metals are reatracing gains from the June FOMC… (and testing technical levels)

 

Charts: Bloomberg




via Zero Hedge http://ift.tt/1pMLMh0 Tyler Durden

The Rot Within, Part III: Our Political Order Is Defined By Favoritism And Extortion

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

What's the difference between the U.S. Congress and corrupt petty officials taking bribes at a Third-World border crossing? Only one of scale.

Corruption ceases to be corruption when it becomes the Status Quo; what was once recognized as corruption is seen as just another cost of doing business. Our political order is structurally corrupt: the key dynamic in every level of governance is favoritism and extortion.

Favors must be bought: those foolish enough not to spend freely on lobbyists and campaign contributions find their competitors have gained the upper hand by buying favors such as tax breaks, federal subsidies, no-bid contracts, cost-plus contracts, backroom deals, regulations that exclude competition and so on.

Politicos must extort campaign contributions from the maximum number of supplicants seeking favors to maintain their perquisites and power.

Here's how the system works.

There was much mainstream media hand-wringing and outrage in response to corporations moving their place of business offshore to lower their taxes. This outrage is completely misplaced–and indeed, seems designed to misdirect attention away from the systemic corruption that is the beating heart of the American political order.

Let me explain how favoritism becomes the Status Quo. There are two key dynamics at work.
1. Onerous, uncompetitive taxes and/or regulations. The U.S. corporate tax rate is 35%, the highest in the world, and various observers estimate the average state corporate tax tacks on another 4.1% for a total corporate tax rate of 39.1%.

This is roughly three or four times the nominal and effective corporate tax rates in competing nations.
The heavier and more asymmetrical the burden, the greater the incentive to find a way to lighten the load. This is why nations with asymmetrical tax rates and collection practices are inevitably hotbeds of black market activity, as those few chumps who actually pay the official tax rate go out of business or struggle to make ends meet while their black market competitors are living high on the hog.

The injustice of such a system fuels the need and desire to buy favors to escape the burden that virtually nobody actually pays.

2. Once a significant percentage of participants have eased their burden by buying political favors, everyone else is forced to wonder why they should continue paying the high taxes when others are avoiding them.

This system is not accidental. The asymmetry feeds the need to buy political favors, and is thus a form of systemic extortion. If you refuse to pay the bribe at a Third-World border crossing, the Powers That Be will make sure your life becomes increasingly miserable; while those who ponied up the bribe breeze through the paperwork, you wait and wait and wait, and are told to fill out more paperwork.

In precisely the same fashion, those who refuse to bribe legislators and key political players find their tax rates are crushing and life is miserable indeed. This is known as pay to play, and it defines the U.S. political order.

Those who don't pay the extortion to congresspeople and lobbyists are punished by a system designed to force every participant to pony up the bribe or suffer the consequences.

In other words, U.S. corporate taxes are extortionist and unfairly applied by design, to guarantee every corporation has to buy favors from politicos intent on stripmining billions of dollars in pay to play "contributions."

I know many people feel corporations should pay high taxes because they did so in the 1950s, but this historical precedent is blind to the realities of a global economy. Given global sales and workforces, why should a company headquartered in the U.S. pay punishing U.S. tax rates on its global operations?

Is it good policy to burden our corporations with absurdly complex tax codes and rates so far above global norms that every U.S.-based company is forced to seek tax avoidance schemes just to remain competitive and meet shareholder demands to be as profitable as others in the same global space?

It's easy for pundits protected by academic tenure to criticize corporate management, but put yourself in the shoes of a pension fund that owns stock in a company that actually paid the full 35% while competitors used strategies bought by political favors to eliminate that burden: your dividends and capital gains would be significantly lower as a result of the corporation's refusal to use pay to play tax avoidance strategies.

The reality is the pension fund manager and the corporate managers would both be fired for underperformance if they were stupid enough to pay the full corporate tax rate or insist on the company doing so.

We have a double standard: as individuals, we seek every possible avenue to escape high Federal taxes, and the wealthier you are, the more avenues are open due to favors bought from an always willing to wheel-and-deal Congress.

Yet we publicly demand corporations pay absurdly asymmetric tax rates to qualify as "good corporate citizens."

Corporations don't exist to be good citizens. As noted above, anyone clueless enough to pay the 35% federal tax rate on all net earnings will have failed the shareholders, who naturally demand the same payout in dividends and capital gains as those earned by competitors who paid to play and avoided most or all U.S. taxes.

Systems of good governance make exceptions and favors difficult to gain and the process transparent.

Corrupt governance makes exceptions and favoritism the unspoken rule and the process of buying them hidden from public view. That defines the U.S. political order perfectly.
Soaring corporate profits make juicy targets for taxes:

Soaring profits are the engine of a rising stock market:

Wages have stagnated while profits have soared:

It's easy to see why people want to tax corporations heavily, but in thinking this they are playing right into the extortionist/pay to play political order.

A fairer, good-governance system would lower corporate tax rates to the equivalent of an excise tax and exclude favors and exemptions. A corporate tax rate of 5% that was applied to all corporate sales and earnings in the U.S. regardless of where the company was nominally based would raise more money than the current corrupt system in which many corporations pay almost nothing and chumps who failed to pay the required bribes pay a globally asymmetric rate as punishment for their failure to 'contribute" to the campaigns of incumbents.

A low, evenly applied corporate tax rate would destroy the pay to play system of extortion/bribery, and as a result it will never be adopted. The U.S. political order is systemically corrupt and is incapable of self-reform. The rot has seeped into every nook and cranny of the political order, to the point that it's now accepted as "the way we do business here."

What's the difference between the U.S. Congress and corrupt petty officials taking bribes at a Third-World border crossing? Only one of scale. The corrupt petty officials can only look with envy on the Congressional extortion machine.




via Zero Hedge http://ift.tt/1pMLLJY Tyler Durden

You’re More Likely to Be Killed By Brain-Eating Parasites, Texting While Driving, Toddlers, Lightning, Falling Out of Bed …

The U.S. Department of State reports that only 17 U.S. citizens were killed worldwide as a result of terrorism in 2011.* That figure includes deaths in Afghanistan, Iraq and all other theaters of war.

In contrast, the American agency which tracks health-related issues – the U.S. Centers for Disease Control – rounds up the most prevalent causes of death in the United States:

Comparing the CDC numbers to terrorism deaths means:

– You are 35,079 times more likely to die from heart disease than from a terrorist attack

 

– You are 33,842 times more likely to die from cancer than from a terrorist attack

(Keep in mind when reading this entire piece that we are consistently and substantially understating the risk of other causes of death as compared to terrorism, because we are comparing deaths from various causes within the United States against deaths from terrorism worldwide.)

Wikipedia notes that obesity is a a contributing factor in 100,000–400,000 deaths in the United States per year. That makes obesity 5,882 to times 23,528 more likely to kill you than a terrorist.

The annual number of deaths in the U.S. due to avoidable medical errors is as high as 100,000. Indeed, one of the world’s leading medical journals – Lancet – reported in 2011:

A November, 2010, document from the Office of the Inspector General of the Department of Health and Human Services reported that, when in hospital, one in seven beneficiaries of Medicare (the government-sponsored health-care programme for those aged 65 years and older) have complications from medical errors, which contribute to about 180 000 deaths of patients per year.

That’s just Medicare beneficiaries, not the entire American public. Scientific American noted in 2009:

Preventable medical mistakes and infections are responsible for about 200,000 deaths in the U.S. each year, according to an investigation by the Hearst media corporation.

And a new study in the current issue of the Journal of Patient Safety says the numbers may be up to 440,000 each year.

But let’s use the lower – 100,000 – figure. That still means that you are 5,882 times more likely to die from medical error than terrorism.

The CDC says that some 80,000 deaths each year are attributable to excessive alcohol use. So you’re 4,706 times more likely to drink yourself to death than die from terrorism.

Wikipedia notes that there were 32,367 automobile accidents in 2011, which means that you are 1,904 times more likely to die from a car accident than from a terrorist attack. As CNN reporter Fareed Zakaria wrote last year:

“Since 9/11, foreign-inspired terrorism has claimed about two dozen lives in the United States. (Meanwhile, more than 100,000 have been killed in gun homicides and more than 400,000 in motor-vehicle accidents.) “

President Obama agreed.

According to a 2011 CDC report, poisoning from prescription drugs is even more likely to kill you than a car crash. Indeed, the CDC stated in 2011 that – in the majority of states – your prescription meds are more likely to kill you than any other source of injury. So your meds are thousands of times more likely to kill you than Al Qaeda.

The financial crisis has also caused quite a few early deaths.  The Guardian reported in 2008:

High-income countries such as the UK and US could see a 6.4% surge in deaths from heart disease, while low-income countries could experience a 26% rise in mortality rates.

Since there were 596,339 deaths from heart disease in the U.S. in 2011 (see CDC table above), that means that there are approximately 38, 165 additional deaths a year from the financial crisis … and Americans are 2,245 times more likely to die from a financial crisis that a terrorist attack. 

Financial crises cause deaths in other ways, as well.  For example, the poverty rate has skyrocketed in the U.S. since the 2008 crash. For example, the poverty rate in 2010 was the highest in 17 years, and more Americans numerically were in poverty as of 2011 than for more than 50 years. Poverty causes increased deaths from hunger, inability to pay for heat and shelter, and other causes. (And – as mentioned below – suicides have skyrocketed recently; many connect the increase in suicides to the downturn in the economy.)

The number of deaths by suicide has also surpassed car crashes. Around 35,000 Americans kill themselves each year (and more American soldiers die by suicide than combat; the number of veterans committing suicide is astronomical and under-reported). So you’re 2,059 times more likely to kill yourself than die at the hand of a terrorist.

The CDC notes that there were 7,638 deaths from HIV and 45 from syphilis, so you’re 452 times more likely to die from risky sexual behavior than terrorism.  (That doesn’t include death by autoerotic asphyxiation … discussed below.)

The National Safety Council reports that more than 6,000 Americans die a year from falls … most of them involve people falling off their roof or ladder trying to clean their gutters, put up Christmas lights and the like. That means that you’re 353 times more likely to fall to your death doing something idiotic than die in a terrorist attack.

The same number – 6,000 – die annually from texting while driving.  So you’re 353 times more likely to meet your maker while lol’ing than by terrorism.

The agency in charge of workplace safety – the U.S. Occupational Safety and Health Administration – reports that 4,609 workers were killed on the job in 2011 within the U.S. homeland. In other words, you are 271 times more likely to die from a workplace accident than terrorism.

The CDC notes that 3,177 people died of “nutritional deficiencies” in 2011, which means you are 187 times more likely to starve to death in American than be killed by terrorism.

Approximately 1,000 Americans die each year from autoerotic asphyxiation.  So you’re 59 times more likely to kill yourself doing weird, kinky things than at the hands of a terrorist.

Some 450 Americans die each year when they fall out of bed, 26 times more than are killed by terrorists.

Scientific American notes:

You might have toxoplasmosis, an infection caused by the microscopic parasite Toxoplasma gondii, which the CDC estimates has infected about 22.5 percent of Americans older than 12 years old

Toxoplasmosis is a brain-parasite. The CDC reports that more than 375 Americans die annually due to toxoplasmosis. In addition, 3 Americans died in 2011 after being exposed to a brain-eating amoeba. So you’re about 22 times more likely to die from a brain-eating zombie parasite than a terrorist.

There were at least 155 Americans killed by police officers in the United States in 2011. That means that you were more than 9 times more likely to be killed by a law enforcement officer than by a terrorist.

Around 34 Americans a year are killed by dog bites … around twice as many as by terrorists.

The 2011 Report on Terrorism from the National Counter Terrorism Center notes that Americans are just as likely to be “crushed to death by their televisions or furniture each year” as they are to be killed by terrorists.

Statistics from the Centers for Disease Control show that Americans are 110 times more likely to die from contaminated food than terrorism. And see this.

The Jewish Daily Forward noted in May that – even including the people killed in the Boston bombing – you are more likely to be killed by a toddler than a terrorist. And see these statistics from CNN.

Reason notes:

[The risk of being killed by terrorism] compares annual risk of dying in a car accident of 1 in 19,000; drowning in a bathtub at 1 in 800,000; dying in a building fire at 1 in 99,000; or being struck by lightning at 1 in 5,500,000. In other words, in the last five years you were four times more likely to be struck by lightning than killed by a terrorist.

 

The National Consortium for the Study of Terrorism and Responses to Terrorism (START) has just published, Background Report: 9/11, Ten Years Later [PDF]. The report notes, excluding the 9/11 atrocities, that fewer than 500 people died in the U.S. from terrorist attacks between 1970 and 2010.

Scientific American reported in 2011:

John Mueller, a political scientist at Ohio State University, and Mark Stewart, a civil engineer and authority on risk assessment at University of Newcastle in Australia … contended, “a great deal of money appears to have been misspent and would have been far more productive—saved far more lives—if it had been expended in other ways.”

chart comparing annual fatality risksMueller and Stewart noted that, in general, government regulators around the world view fatality risks—say, from nuclear power, industrial toxins or commercial aviation—above one person per million per year as “acceptable.” Between 1970 and 2007 Mueller and Stewart asserted in a separate paper published last year in Foreign Affairs that a total of 3,292 Americans (not counting those in war zones) were killed by terrorists resulting in an annual risk of one in 3.5 million. Americans were more likely to die in an accident involving a bathtub (one in 950,000), a home appliance (one in 1.5 million), a deer (one in two million) or on a commercial airliner (one in 2.9 million).

 

The global mortality rate of death by terrorism is even lower. Worldwide, terrorism killed 13,971 people between 1975 and 2003, an annual rate of one in 12.5 million. Since 9/11 acts of terrorism carried out by Muslim militants outside of war zones have killed about 300 people per year worldwide. This tally includes attacks not only by al Qaeda but also by “imitators, enthusiasts, look-alikes and wannabes,” according to Mueller and Stewart.

 

Defenders of U.S. counterterrorism efforts might argue that they have kept casualties low by thwarting attacks. But investigations by the FBI and other law enforcement agencies suggest that 9/11 may have been an outlier—an aberration—rather than a harbinger of future attacks. Muslim terrorists are for the most part “short on know-how, prone to make mistakes, poor at planning” and small in number, Mueller and Stewart stated. Although still potentially dangerous, terrorists hardly represent an “existential” threat on a par with those posed by Nazi Germany or the Soviet Union.

 

In fact, Mueller and Stewart suggested in Homeland Security Affairs, U.S. counterterrorism procedures may indirectly imperil more lives than they preserve: “Increased delays and added costs at U.S. airports due to new security procedures provide incentive for many short-haul passengers to drive to their destination rather than flying, and, since driving is far riskier than air travel, the extra automobile traffic generated has been estimated to result in 500 or more extra road fatalities per year.”

 

The funds that the U.S. spends on counterterrorism should perhaps be diverted to other more significant perils, such as industrial accidents (one in 53,000), violent crime (one in 22,000), automobile accidents (one in 8,000) and cancer (one in 540). “Overall,” Mueller and Stewart wrote, “vastly more lives could have been saved if counterterrorism funds had instead been spent on combating hazards that present unacceptable risks.” In an e-mail to me, Mueller elaborated:

 

“The key question, never asked of course, is what would the likelihood be if the added security measures had not been put in place? And, if the chances without the security measures might have been, say, one in 2.5 million per year, were the trillions of dollars in investment (including overseas policing which may have played a major role) worth that gain in security—to move from being unbelievably safe to being unbelievably unbelievably safe? Given that al Qaeda and al Qaeda types have managed to kill some 200 to 400 people throughout the entire world each year outside of war zones since 9/11—including in areas that are far less secure than the U.S.—there is no reason to anticipate that the measures have deterred, foiled or protected against massive casualties in the United States. If the domestic (we leave out overseas) enhanced security measures put into place after 9/11 have saved 100 lives per year in the United States, they would have done so at a cost of $1 billion per saved life. That same money, if invested in a measure that saves lives at a cost of $1 million each—like passive restraints for buses and trucks—would have saved 1,000 times more lives.”

 

Mueller and Stewart’s analysis is conservative, because it excludes the most lethal and expensive U.S. responses to 9/11. Al Qaeda’s attacks also provoked the U.S. into invading and occupying two countries, at an estimated cost of several trillion dollars. The wars in Afghanistan and Iraq have resulted in the deaths of more than 6,000 Americans so far—more than twice as many as were killed on September 11, 2001—as well as tens of thousands of Iraqis and Afghans.

 

***

 

In 2007 New York City Mayor Michael Bloomberg said that people are more likely to be killed by lightning than terrorism. “You can’t sit there and worry about everything,” Bloomberg exclaimed. “Get a life.”

Indeed, the Senior Research Scientist for the Space Science Institute (Alan W. Harris) estimates that the odds of being killed by a terrorist attack is about the same as being hit by an asteroid (and see this).

Terrorism pushes our emotional buttons. And politicians and the media tend to blow the risk of terrorism out of proportion. But as the figures above show, terrorism is a very unlikely cause of death.

Indeed, our spending on anti-terrorism measures is way out of whack … especially because most of the money has been wasted. And see this article, and this 3-minute video by professor Mueller:

 

Indeed, mission creep in the name of countering terrorism actually makes us more vulnerable to terrorist attacks.

And corrupt government policy is arguably more dangerous than terrorism.

* Note: The most recent official report – published in 2012 – shows that even fewer Americans were killed by terrorists than in the previous year.




via Zero Hedge http://ift.tt/1pMLGWx George Washington

Former Bircher No Longer Believes in Vast Communist Conspiracy, Fears Vast Conservative Conspiracy Instead

The economist and historian Jeffrey Rogers Hummel, who sometimes
contributes
to Reason, has
reviewed
Claire Conner’s
Wrapped in the Flag
, a memoir of growing up in a
family of John Birch Society believers. Conner, he concludes,

To see more of James Gill's collage art, click on the pic.is unable to separate fully
her wrenching childhood from the ideas and opinions of those she
generally identifies as right wing. While there is always a note of
tenderness in her writing about her parents, their fanatical
harshness becomes the template for her damning of not only all
Birchers but also most conservatives and even libertarians.

This makes her utterly oblivious to the extent to which she is
still trapped in a conspiratorial worldview, but one of the Left
rather than of the Right. She has graduated from her parents’
belief that America was threatened by a giant left-wing conspiracy,
in which every liberal was either a Communist or a Communist
fellow-traveler, to a belief that America is threatened by a giant
radical-right conspiracy, stretching from the 1950s to the present.
She lumps together with the Birch Society in this gigantic,
ongoing, and diffuse conspiracy such disparate individuals and
organizations as Bill Buckley and his conservative National
Review
; politicians such as Barry Goldwater, George Wallace,
and Ronald Reagan; Ayn Rand and her Objectivist followers; the
libertarian Cato Institute; the modern Tea Party; and white
supremacists of the Klan.

To support this portrayal, Conner engages in the same kind of guilt
by association that Birchers employed to charge, for instance, that
Martin Luther King was a secret Soviet agent.

To read the rest, go
here
.

from Hit & Run http://ift.tt/1x7uj5w
via IFTTT

Court Tethers Old Man to SoCal for Letting Dog Off Leash

John Gladwin, a 69-year-old Army veteran,
“must allow home visits by a federal probation officer, file
monthly activity reports and … must get written authorization
anytime he leaves the massive Central District covering most of
Southern California,”
details
 LA Weekly. The government chooses to
monitor this retiree and restrict his movement, though he’s never
committed a violent crime or sold illegal drugs or weapons. No, he
let his dog, Molly, off her leash to play just beyond their yard in
the vast expanse of Santa Monica Mountains.

The thing is, Molly has never actually caused trouble with
hikers or others in these mountains, which are divided among four
different authorities – California State Parks, Santa Monica
Mountains Conservancy, Mountains Recreation and Conservation
Authority and U.S. National Park Service – and each have different
rules. But he’s twice been caught in federal territory just
hundreds of feet from his own property and has been prosecuted for
violating a leash law. Now, “if he’s caught with so much as a foot
in the park, which stretches 50 miles from the Hollywood Hills
to Point Mugu, [Gladwin] will go to jail.”

Gladwin is riding out a 12-month probation for what seems like a
few unfortunate encounters with officials on power trips. From the
Weekly:

Supervisory Park Ranger Bonnie Clarfield, of the U.S. Department
of Interior, testified against Gladwin at his November 2013 and
April 2014 trials. Colleagues have teasingly dubbed her the “dog
narc” — for her strict enforcement of leash laws during her 33
years on the job.

Things came to a head before Gladwin’s first trial, during the
government shutdown last Nobember:

Clarfield had stayed on the job that night, and spotted Gladwin
and the dog. She was all set to give him a warning — until she
recognized his name, by then infamous to the rangers. Clarfield
issued him a citation — requiring a court appearance.

Clarfield isn’t the only one that’s opted to be tough on
Gladwin. Assistant U.S. Attorney Sharon McCaslin, who hands most
misdemeanors for the Central District, told the
Weekly, “I’ve never had someone, while a trial was
pending, go and commit the same offense. He’s incorrigible. … He
thinks the park is his backyard.”

Gladwin has twice opted to go to trial rather than accept a plea
bargain offered by the U.S. Attorney.

“[McCaslin’s] job is to make sure that nobody goes to trial,”
Gladwin says of the prosecutor’s misdemeanor caseload. “That’s
strike No. 1 against me, because I chose to go to trial.” He
believes McCaslin is using his case as a learning experience for
her law student interns.

“These people need push-back. They’re just wasting resources,”
Gladwin says. “Now it’s all been about punishing me. To what
end?”

Gladwin says that “the probation department doesn’t even take it
seriously” and that it seems like a lot of government resources
going to waste to hammer him, since he’s changed his route and
takes Molly on walks on private land. 

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Third And Final Espirito Santo HoldCo Is Bankrupt: Is “Banco” Next?

Having admitted that the banking system problems in Portugal could be systemic, the President has a bigger problem now as the 3rd (and final) Holdco of the Banco Espirito Santo capital structure fiasco just filed for bankruptcy:

  • *ESPIRITO SANTO FINANCIAL GROUP SEEKS PROTECTION FROM CREDITORS

First it was ESI (storm in a teacup), then RioForte (“contained”), and now ESFG (“systemic”), and given the CEO’s recent “detention” for money-laundering, we wonder how long before Banco Espirito Santo is forced to liquidate?

 

 

 

President Anibal Cavaco Silva is the first high-profile
politician to warn of a possible economic impact from the Espirito Santo
crisis,
after the family asked for creditor protection for one of its key holding companies on Friday.

 

 

“We cannot ignore that there will be some impact on the real economy.”

*  *  *

Which does not leave much room for Portugal’s growth….




via Zero Hedge http://ift.tt/1z8xvAF Tyler Durden

Third And Final Espirito Santo HoldCo Is Bankrupt: Is "Banco" Next?

Having admitted that the banking system problems in Portugal could be systemic, the President has a bigger problem now as the 3rd (and final) Holdco of the Banco Espirito Santo capital structure fiasco just filed for bankruptcy:

  • *ESPIRITO SANTO FINANCIAL GROUP SEEKS PROTECTION FROM CREDITORS

First it was ESI (storm in a teacup), then RioForte (“contained”), and now ESFG (“systemic”), and given the CEO’s recent “detention” for money-laundering, we wonder how long before Banco Espirito Santo is forced to liquidate?

 

 

 

President Anibal Cavaco Silva is the first high-profile
politician to warn of a possible economic impact from the Espirito Santo
crisis,
after the family asked for creditor protection for one of its key holding companies on Friday.

 

 

“We cannot ignore that there will be some impact on the real economy.”

*  *  *

Which does not leave much room for Portugal’s growth….




via Zero Hedge http://ift.tt/1z8xvAF Tyler Durden