Forum Replies Created
I believe that human beings should interact voluntarily, that the initiation of force is immoral. If I recall correctly you advocate legal tender laws, you want to force people to use a prescribed currency. I know this because you also advocate that the treasury have an unlimited interest free ability to create fiat currency and without legal tender laws no one would accept this garbage. Take an one dollar FRN and a hundred dollar FRN, the only difference is what’s printed on them, it’s the same amount of rag. There is a noticable difference between a ounce of PM and a hundred ounces of a PM and the labor required to bring them into existence.
Let’s give everyone on earth the ability to create all the interest free money they want, what would happen? Everyone would be trillionaires with nothing to buy. Wealth is created by taking something of lesser value and turning it into something of greater value, iron ore into steel, a tree into lumber, etc. All fiat currency is is theft, by changing the numbers on a piece of paper you rob the productive by forcing them through law to accept promises to pay that required little effort.
That, sir, was a thing of beauty. I couldn’t have said it better myself. If we were in the real world, I’d buy you a beer. Cheers,
Well, they are onto something, even if it’s only one thing: if there is an end if will begin in DC, where all bad things begin!
I have to be honest, I’m dumbfounded as to why the Yen is rising against the dollar. Can anyone explain this? One of my bets is to play the dollar rally against the Yen, and so far that’s been dead wrong.
A weakening economy in the wake of devastation, the highest debt load in the developed world, and a commitment to continue printing should provide the perfect cross to play the temporary strength in the dollar… Yet instead, the yen is rising faster than USD. Any currency traders out there have any ideas why?
I am not a currency trader, but my guess is it has to do with massive repatriation of yen in the wake of liquidity needs brought on by the disaster. Individuals, companies, state-entitites and insurance companies all have new yen-requirements they did not have before the disaster struck. I think this will be short lived, as Japan’s exports suffer massive casualties and their foreign ($) reserves take a big hit.
Note the spike in silver from $4 to $8.50 retraced all the way back to $5.45 and the spike from $5.45 to $21.40 retraced all the way back to $8.40.
He ellaborates here. Interestingly, Mish parked his cash made off selling silver into gold. He does not see gold as behaving in the uncontrolled, unsustainable manner he sees silver behaving in.
I sold 3/4 of my silver last Friday. I would have sold it all, but my broker convinced me to keep 1/4 in, which I do not regret. Spikes are crazy things, but profits not taken are profits that are lost. I’d be a buyer in the low 20’s, or higher but only if a nice support shelf forms.
Today it seems something very important is happening. The dollar could be making a major short term low. Although it is down hard, bonds are up and equities/commodities are down. That is not the thing currency collapses are made of – just as Dr. M says, the time to worry is when the $ and bonds are both down hard. With 4-5% dollar bulls even on a multi-day moving average basis, it just doesn’t seem like there can be too many dollar haters left who haven’t already sold or shorted it. I’d be very careful about buying silver right now.
I’m following the recommendations at RWC to the letter, but I’m sure I’m capable of accidental wormicide. I put together three separate bin-style systems, plus one barrel system (that one was not “to the letter”!). Chopping things up seems to be pretty important, as is keeping good and ample bedding material.
Wow, interesting thread and nice change of pace. I’ll give it a go:
Fri: Sold 3/4 silver holdings (ok, I don’t know if that counts as the weekend). Got delivery of 2 kilos of red worms.
Sat: Tried to make it to farm, but couldn’t due to protests blocking roads. Returned home to care for sick dog. Went to friends’ house for dinner and drinks.
Sunday: Did make it to farm. Added Eisenia fetida (red worms) to aquaponics grow beds. Did a little system maintenance, planted lettuce and more tomatos. Returned home, went grocery shopping with girlfriend, and returned home to care for dog, cook and eat. Also set up red-worm composting bins at home and at farm, following general instructions at this very helpful site.
Monday: My sweet sweet dog of just under 2 years died. Went to farm to burry her. Tick desease sucks. Sad but life goes on.
I don’t think a year has passed in my life when the world wasn’t about to end in the very near future. I always wondered who bothered making this stuff up, so I guess now I know! Do you have a purpose, or is it for shear entertainment? I have a quicker, much more entertaining way of doing this: I’ll start a rumor at work, only tell two people, swear them both to secrecy, and then wait to see how long it takes to get back to me – try it sometime!
OK, Mike, you’ve suckered me into it. I’ll just hit a few main points because to do the whole thing I’d need two keyboard and four hands:
[quote] The document they cobbled together was
far from democratic, being shackled with checks, vetoes, and
requirements for artificial super majorities, a system designed to
blunt the impact of popular demands.[/quote]
How is this a flaw with our system? Checks and balances keep too much power from being concentrated in one arm of government. Super-majorities are only required for major changes, like ammendments to the constitution. They were designed to keep too much change from happening too soon, and for avoiding mob rule and dictatorship of the majority, which was warned against repeatedly by the founders. Instead, Parenti argues this was designed to protect wealth from being transferred from one group of people to another. How could that possibly happen if income taxes didn’t even exist at the time, and the only people who paid taxes were the wealthy to begin with?
[quote] In the early days of the
Republic the rich and well-born imposed property qualifications for
voting and officeholding. They opposed the direct election of
candidates (note, their Electoral College is still with us). And for
decades they resisted extending the franchise to less favored groups
such as propertyless working men, immigrants, racial minorities, and
Property-qualifications were required to vote because only property-owners paid taxes. That actually still makes sense to me Not that voting should be restricted to property-owners, but certainly to those who pay taxes – otherwise it’s just theft by the majority. Some offices, like those for Senator, were chosen by the governor, instead of by popular vote, so what? Immigrants still can’t vote and as long as someone is not a citizen, why in the world would they be able to vote? I don’t know of any country that allows non-citizen immigrants the right to vote. As for the Electoral College, this was designed to give small states an equal voice in the senate and a larger voice than their population would grant them in general elections. The reason they did this was to get all the states to agree to become a Union. Without the assurance of an equal voice in at least one chamber of the legislature, the smaller states would have never gone along with the formation of the United States of America. This is basic history that unfortunately is not taught very well anymore, but I would expect that Parenti’s alma mater, Yale, would have a decent history program so it wreaks of blatant distortion on his part, which is confirmed by reading the rest of his article.
[quote] Today conservative forces continue to reject more equitable
electoral features such as proportional representation,
instant runoff, and publicly funded campaigns. They continue to create
barriers to voting, be it through overly severe registration
requirements, voter roll purges, inadequate polling accommodations, and
electronic voting machines that consistently “malfunction” to the
benefit of the more conservative candidates.[/quote]
Now Parenti is just making suff up. Until now, he was distorting history, now he’s just making unsubstantiated claims. If all these things are true, let’s see the evidence. By the way, the vast majority of voter-registration polls in the US are run by democrats, especially those in minority districts, so I find it very difficult to see how conservatives could pull off such a fraud, even if they wanted to.
The next three paragraphs are some sort of recreation of what some labor leader in a jail cell thought. So what? I’m sure I can find a jailed capitalist that thought differently – would that matter to anyone?
OK, and that’s just Section 1. Forgive me for not picking apart sections 2 and 3 just yet. If nobody else has done me the favor, I’ll take a hack at those tomorrow or the next day. Hey, I live in Costa Rica: "manana" is a perfectly legitimate excuse.
Yes, it occurs just after 2011, and right before 2013.
Patrick, is your comment in jest or are you serious?
Try commenting on the content of his message rather than attacking the
messenger. Making fun of the messenger like this make’s me think that
he really hit a nerve with you and that you don’t have an intelligent
I suppose you’re right, Charlie. This is usually not my style. There are just so many things wrong with this article, I don’t even know where to begin. His transitions and justificatons are so transparently flawed and biased there really isn’t much content to attack because it’s hollow. It’s offensive to my intelligence as I hope it is to yours. I did start a thread on what capitalism is and isn’t which you can find here: https://www.peakprosperity.com/forum/time-get-out-way-what-capitalism/12461
If you know of a way of sending it to Mr. Parenti, please let me know. That is a debate I would love to have.