Con Of The Decade - Part I and II
Charles Hugh Smith posts these two recap pieces for context; read them both:
Con Of The Decade - Part I
Con Of The Decade - Part II
Think hard about how useful individual action will be in this context.
Got monasteries?
posted by Concerned American | 2:25 AM
5 Comments:
None of this "con" would have been possible without fiat currency brought to you by the Federal Reserve Banking Cartel.
So please remember this all cuts across party lines and goes back a several generations.
The con has been in play for a long time.
KPN3%
A definition of "Unearned income" from the mises.org web site: "A term which socialists, syndicalists, interventionists and tax authorities apply to rent, interest and entrepreneurial profits. This idea is derived from the early classical or labor theory of value, according to which only labor produces or 'earns' increased values."
Not only does Charles Hugh Smith seize on a favored phrase of collectivist apologists--unearned income--he also embellishes his screed with a Maoist propaganda poster. Given a choice between crony capitalism and Maoism, no man can be "Of Two Minds."
MALTHUS
He's wrong about the "Bush tax cuts" and his ideas on taxing unearned income. I have a better idea. Dont tax income at all, tax consumption. We dont have enough income to cover our debts so no amount of taxing is going to get it done alone. The tax cuts did not get us into this mess it was purely the result of the government agreeing to cover private investments with public funds. Once that carrot was on the stick the banksters took advantage of it.
Wouldn't it be smart, if before it is too late, people actually went to the banks and took out their money before it evaporated, just like it did during the First Great Depression?
The banks depend on your deposits to keep the Federal Reserve system "functioning." Try to close a decently-sized account at your bank, and see how angry they get with you. How they try to talk you out of it.
For every dollar you have on deposit, they get to loan out many, many more. Why are they getting rich off your money, when your money is going to evaporate when it hits the fan, and their CEO's are going to crawl into their multi-million dollar mansions and not come out?
Banks can't cover their deposits. If you don't get your money out early, you won't get any out, until the FDIC has come up with some new, severely debased IOUs with the ink still wet on them. Get your money out of the bank for these three reasons 1. It's your money, and it will disappear in the first few moments of any panic. 2. The banksters depend on your money to become rich. 3. The Federal Reserve depends on your deposits.
Meadowlark,
Very well put. I closed my bank account last year when I thought GM was going under(and begin the domino effect, but they got bailed out instead, with taxpayer money.) Stop feeding the beast and it will starve.
The fall is coming soon, don't leave anything over $10 in your account. Enough to keep the account active and cash your paycheck. Try to pay all you can in cash and keep every extra cent at home. Pay all your local bills first and then worry about the giant banks.
I have several friends who have cashed out what is left of their retirement accounts and paid off everything they can to cancel any debt they may have. These 401k's are not coming back folks, they will steal every last cent from you before this is over. Getting 18% of your money back beats 0%. Put your money into food, ammo, clothing, anything hard and tangible. Fictitious paper accounts will not feed or clothe you. No matter how great you think your portfolio is, it's mostly composed of hot air and false promises. These people had no intention of paying out on these accounts, they knew from the start how to steal you blind and find a fall guy to blame it on. Kind of like saying the devil got into the computer. Oh, somebody already used that line.
Good luck to all, Wyomarine
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