BIDEN: IT'S WORKING! Jul 17, 2009
Up Next: Biden vs. Cantor. Vice President Biden speaks on the stimulus program during an earlier trip to tout it in Cincinnati. (The Drudge Report)
Tea Party Protests Rally Against Taxes Jul 5, 2009
It seems to me as long as we allow people to print up fiat money there will be no place in the world where freedom can flourish. If the Globalist oppose your efforts, paid for with real hard earned money, all they have to do is fire up the presses and shovel the money to any group that will oppose you. (CBS News)
COLUMN: Even at Lake Mattoon, rules apply to the bird brains amongst us Jun 2, 2009
When the hyper-spending bills during the Bush years (and now during the Obama ascendancy), have to be paid, hyper-tax-flation will be a new fact of American life"This is so, unfortunately, true. I have been harping and warning people for years but people don't want to hear bad news. Well, it's already starting, all taxing bodies are raising taxes, the dollar's value is plummeting and once the realization of what our government's current actions will really do to you and me, it will be too late... (Mattoon Journal-Gazette, IL)
Mythili Bhusnurmath: No quick-fixes May 25, 2009
In reality, credibility is an important aspect of fiat money and credibility, in turn, is closely linked to the health of government finances. Unfortunately for the UPA government, the poor health of government finances is a serious constraint, both on its ability to work the printing press, and on any programme to spur the economy. (India Times)
Spring Reading for Conservatives May 21, 2009
As long as the Fed kept pumping outsized amounts of fiat money into the economy as it did in the 1990s and early 2000s -- and as it inevitably will do, in response to political pressure -- that money had to inflate something. Irresponsible government pressure to expand home ownership at almost any cost made it easy for that inevitable inflation to flow into residential real estate. (Human Events Online)
Democratic candidate calls secesh talk childish May 21, 2009
John Kennedy got rid of the patently corrupt fiat money for private profit Fed scam, fraudulently enacted by representatives of the Vatican s bankers in America, and ordered us out of Rome s slave plantation in Indochina. Rome s operatives in the Knight of Malta-led CIA killed him for it the same way Roman Catholics killed Lincoln. (Atlanta Journal-Constitution -- Metro)
OUR VIEW: 'Hope' should lead to economic recovery May 17, 2009
Becky wrote on May 11, 2009 12:42 PM:" I like the optimism in this piece however, non of us are going to "recover" from this recession until our country stops using fiat money and fractured banking systems. The worth of the USD has plummetted 94% since the inception of the Federal Reserve. We need to start manufacturing here again and actually have something to export and sell. The past 20 years America has so-called made money just by moving numbers around, attaching interest to those numbers,... (Mattoon Journal-Gazette, IL)
China's yuan to usurp $ as world's reserve currency... May 16, 2009
The dollar will remain the reserve currency for the 21st century - our fiat money is backed not by gold but by unrivaled US naval power which insures that we control global commerce - this will not change anytime soon. Furthermore, the extraordinary growth China has experienced over the last 30 years will not last forever, and when it inevitably comes to an end, China will experince massive destabilization - Roubini may understand macro economics, but geopolitics is another story altogether. (The Drudge Report)
Buttonwood: Credit, debt and birth pains May 15, 2009
That is just what opponents of fiat money feared would happen in the long run. The same old dilemma will eventually occur. (The Economist)
Inflation unavoidable May 14, 2009
Now, to hear it told, for the First Freaking Time (FFT) in all of history, a country bankrupted from its own gluttonous, low-IQ redistributionist excesses, paid for by an over-creation of fiat money and credit, was able to - insert huge blare of trumpets declaring victory "taaaa-daaaa!" - actually spend its way out of bankruptcy ... They do not name these "critics" or (as I am usually known) a "fringe lunatic", but judging by my own criticisms, such gigantic creations of fiat money will produce... (Asia Times Online)
Heading overthe moon May 12, 2009
It gets interesting when he looks at "All the Money in the World vs Gold Reserves," where we learn the novel factoid that "Total central banks reserves (including gold holdings) = $4.8 trillion," which includes not only a lot of each other's fiat money, but 929. 6 million ounces of gold, which is the "total gold reserves held by all official institutions that issue currency". (Asia Times Online)
Heart-stopping circulation May 6, 2009
And what is the problem with creating excess paper, fiat money. Well, ask the people of Zimbabwe, whose moronic government has been creating so much of it for almost 15 years that, towards the end, inflation in prices could only be poorly estimated, as prices soared more than a million percent, or a billion percent, or more. (Asia Times Online)
A crumbling America (10) May 1, 2009
President Obama and his Congress have swiftly made moves to make a debauchery of our currency and its impact, in my view, will lead us soon to hyperinflation because this exponential printing of dollars out of thin air by the Federal Reserve will ultimately make our dollar weak and eventually no one in the world will want our fiat money. When this occurs, prices will skyrocket creating a profound depression because no one will be able to afford anything. (Oswego Palladium-Times, NY)
Unhealthy inflation Apr 28, 2009
And, while nothing can protect you from treachery by family members or fickle, backstabbing girlfriends, you can protect yourself from the terrors of inflation by buying gold, and sometimes (like now) gold can be bought so cheaply that it will be one of those times in history when a person, any person, a person like, say, you or me, can capitalize on the ruinous inflation of an irresponsible governments deficit-spending financed by an irresponsible Federal Reserve creating too much fiat money... (Asia Times Online)
Pirates Closer to Our Shores Apr 28, 2009
Columns, funnies in your inbox. Townhall Daily Alert Your daily must-read of conservative columns, cartoons and news. (Townhall.com)
Fiat to Chrysler: Cut costs or we walk Apr 16, 2009
Mr. Marchionne, who was educated in Canada, started his career here and holds dual Italian-Canadian citizenship, has vowed to put no Fiat money into Chrysler and plans to save the company through technology transfers and a corporate overhaul modelled on the one that rescued Fiat from oblivion in the middle part of this decade. Short of injecting funds into Chrysler, Mr. Marchionne said Fiat will do whatever it takes to revive Chrysler, including offering himself up as CEO. Fundamentally, that's... (Globe and Mail -- Business)
Cut labour costs or we walk, Fiat warns unions at Chrysler Apr 16, 2009
Many analysts still think the partnership will eventually cost Fiat money, even if the terms of the deal do not oblige it to put up any cash. - Reuters. (Business Report, South Africa)
Hundreds rally in downtown Bloomington at 'Tax Day Tea Party' Apr 16, 2009
Tom Terrific wrote on Apr 15, 2009 10:56 PM:" Obama is trying to keep the country from slipping into a depression. That right there has to be the most ignorant comment ever. By flooding the market with all of these dollars, you are inviting massive inflation. In case you don't know, we have fiat money. No gold standard. No silver standard. The dollars purchasing power is being destroyed. I said no the the Bush bailout. I said no the the Obama bailout. Bailouts are not the answer. ". Joe Dirt... (The Pantagraph newspaper)
Quo Vadis, Global Economy and Finan... Apr 13, 2009
If it is too high and potentially getting even higher, excess money supply could create an artificial market boom, (because the boom is not funded with real assets, but with fiat money), eventually leading to a crash because the ultimate by-product is inflation. The same end-result happens also if the money supply is too low and decreasing because the financial systems are starved for cash. (Suite101.com)
So much nonsense Apr 8, 2009
The three exclamation points indicates that I am on Full Mogambo Alert (FMA), as I now know that Chinese bankers are as duplicitous as all the others; he is proposing to create as much SDR money (which is just another fiat money composed of the fiat dollar, the fiat euro, the fiat yen and the fiat pound) as anyone in the world wants. Which is the problem that got us into the mess we are in, for crying out loud. (Asia Times Online)
Give backthat cash Apr 7, 2009
He goes on by quoting Bernard Shaw, a witty Irishman who said a lot of famous, witty things but who never, perhaps for undiscovered reasons hidden in his surviving papers and mysteriously overlooked, ever said, "We're freaking doomed if you let the damned government create and spend as much fiat money as it wants, even if it turns over the 'create the money' part to the total failure known as the Federal Reserve, and if you are not buying gold, silver and oil against the confiscatory, ruinous,... (Asia Times Online)
Papering over a global crisis Apr 1, 2009
Since then, fiat money has corrupted currencies around the world. Beginning in the 1980s, developing countries have experienced currency crises by the dozen, Mr. Steil and Mr. Hinds say. (Globe and Mail -- Business)
LETTER: Democrats want people dependent on feds Mar 28, 2009
Bps wrote on Mar 27, 2009 7:19 PM:" To those on the far left- yes you are 100% right that the last bozos in charge were screw-ups and primarily only served their own power base. We live in the present. What the previous crooks in charge did is over.The only thing that can be done now is try to prevent the current bozo elites from screwing up now!What is overly troublesome to so many that arent the drop dead, support at all costs, kool-aid drinkering democrats is how fast the new bozos have and... (Mattoon Journal-Gazette, IL)
Accidentscan happen Mar 28, 2009
I admit that eavesdropping on foreigners whining about the dollar is pretty far from my original complaint, which was that all of this stimulus money will never, ever be withdrawn from the economy because that would mean that the money supply would go down, which is the definition of deflation, and this deflation is what has the Fed and the Congress in such a frightened panic that they are deliberately creating inflation and risking hyperinflation with their unbelievably massive explosions of... (Asia Times Online)
The Stock Screaming "Buy Me!" Mar 27, 2009
It's the most important stock you can own. updated 5:47 a.m. ET March 26, 2009. (MSNBC -- Business)
Bachmann Bill: Dont Replace The Dollar Mar 27, 2009
March 26, 2009 4:16 PM. Bachmann Bill: Dont Replace The Dollar. (CBS News)
Job-saving nonsense Mar 25, 2009
Okay, I realize this is not my best work and it needs some polishing, so don't bother writing to me about the usual bad reviews ("He is stupid and so is his stupid song!" - Chicago Sun), but the sentiment is perfectly correct: Foreigners refusing to use the dollars they receive, as a result of America's $820 billion per year trade-deficit, to buy more Treasury debt is terrible news to a bunch of socialist/communist dirtbags like Obama and Congress; and the rest of us worthless morons around the... (Asia Times Online)
No Slam Dunks For Obama Mar 23, 2009
Let's LMAO at each other while they spend $TRILLIONS of fiat money at our expense. Posted by perk235 at 7:20 PM : Mar 22, 2009. (CBS News)
Obama Raising Keynes Mar 21, 2009
If England had gone to fiat money at that point, their economic situation would have been much, much worse. Location: AZ Reply # 2 Date: Mar 21, 2009 - 2:59 AM EST talent scout- on Keynes Good point about Keynes. (Townhall.com)
Turningthe screw Mar 20, 2009
And since we are talking about how this illustrates famous sayings, it also perfectly illustrates the Famous Mogambo Saying (FMS), "If you are not buying gold in response to the preposterous Obama government deficit-spending almost $2 trillion this year, and being 'forced' to deficit-spend that much for the next bunch of years, too, meaning that the Federal Reserve must create that gigantically much money and credit to monstrously add to the money supply (not to mention the staggering new debt... (Asia Times Online)
Excessive excesses Mar 19, 2009
" The good news is that the real, lazy man's secret is that gold is "eternal vigilance" in a handy, compact yellow metal, and sometimes, like now, you will actually get richer in terms of fiat money due to the depreciation of the over-produced fiat money! Whee! This investing stuff is easy! Richard Daughty is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the editor of The Mogambo Guru economic newsletter - an avocational exercise to heap... (Asia Times Online)
Yellow brick code Mar 18, 2009
Page last updated at 10:46 GMT, Tuesday, 17 March 2009. Secrets of the Wizard of Oz. (BBC News)
Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month... Mar 18, 2009
Oh how the house of cards build on a fiat money supply comes crashing down. Fun stuff people. (The Drudge Report)
Letters to the Editor: Mar 18, 2009
They print fiat money (Federal Reserve Notes) literally out of thin air with no gold or silver backing, making all money decrease in purchasing power. They are responsible for all inflation, which by definition is an increase in the money supply, resulting in rising prices. (Ontario Argus Observer, OR)
Investors Sue Trump Over Failed Resort Mar 16, 2009
Any one investing in real estate should of realized the economics of the Bankers and Neo Con's in charge in this phony economy since 1913 what the hell do they expect from fiat money and fake paper dollars. The Forefathers warned you all and you didn't pay attention. (CBS News -- Iraq)
Brighter outlook for gold prices ahead Mar 9, 2009
Such a single instance in one of the American states does not mean that the entire fiat money system is on the verge of a collapse. However, it does indicate that the paper currencies are losing their vigour due to the developments in financial markets since late 2007, and in turn bringing back gold as the measure of monetary value. (India Times)
Bank braced for losses over plan... Mar 8, 2009
This is the latest Fiat money system to collapse. Conology at its worst I am afraid. (New York Post -- Business)
Bank ?prints? 75bn and cuts inte... Mar 6, 2009
When all this Fiat money is being used to light the fire, it will be back to a currency based on precious metals. A promise to pay backed up by a government that simply prints money, no way. (New York Post -- Business)
The easy answer Mar 6, 2009
He writes, "What is ignored throughout all this political posturing has been the core cause of today's financial difficulties. The singular cause has been the manipulation of interest rates and expansion of fiat money by the Federal Reserve Bank" which he agrees created waaAAAaaay too much money and credit for waaYYYaaay too long, and that all of our problems can be "causally" related to these Fed weenies doing it for decades, in. direct contrast to classical/Austrian economics and sheer common... (Asia Times Online)
It will happen Feb 19, 2009
The interesting thing to me is that The Economist magazine explains that the market for derivatives has gotten so huge because (and this is the important point) they are useful to people signing contracts, as "After America came off of the gold standard in 1971, businesses wanted a way of protecting themselves against the movements in exchange rates", by which they mean that nobody wants to experience a loss of the buying power of their stupid fiat money. So, figuratively climbing upon my... (Asia Times Online)
Bill Conlin: Alex Rodriguez' media session not so stimulating Feb 18, 2009
President Obama signed a stimulus package into law that will inject $787 billion in fiat money into an economy that reminds me of "The Wire's" regular junkies waiting for Bubbles to lurch out of the projects with their heroin fix. Just a few hours earlier, the highest-paid baseball player on the planet, Alex Rodriguez, signed off on the stimulation packages that were coming from the Dominican Republic. (Philadelphia Daily News)
U.S. stimulus package threatens to let history repeat itself Feb 14, 2009
The book is Fiat Money, Inflation in France, written 50 years ago by Andrew Dickson White (a co-founder of Cornell University). I was handed the book last week when I went to visit a friend at a brokerage company, leafed through the book on the subway back, then got caught up in the narrative and finished it that day. (Globe and Mail -- Business)
ABCNEWS: CATERPILLAR CEO contradicts Obama: 'We're going to have more layoffs before we start hiring again'... Feb 13, 2009
". Oh that's right. The government will just print fiat money, and everyone will be happy and birds will chirp and rainbows will appear and everyone will be singing. "We're in the money, We're in the money We got a lot of what it takes to get along. We're in the money, C'mon, my honey Let's lend it, spend it send it rollllllin' alonnnnggg. (The Drudge Report)
Serial defaulters (Canada excepted) Feb 11, 2009
Reinhart and Rogoff say that governments past and present are simply yielding to temptations inherent in the malleable nature of paper money: With the widespread adoption of fiat money, they say, inflation apparently became the most expedient form of expropriation. Now, they say, some countries are turning into serial defaulters. (Globe and Mail -- Business)
Fortune-telling cookies Feb 10, 2009
I am hoping that someone from the media will ask me about my current thoughts on the "deflation or inflation" debate, but they probably won't, since the last time I held a Mogambo Press Conference (MPC) where they asked me that question, the reporters screwed it all up and seemed to fixate on the fact that I yelled at them, "If you think that the government or the Federal Reserve is going to allow a true deflation, which is a fall in the money supply, when they have the ability and authority to... (Asia Times Online)
Do I have this stimulus stuff right? Feb 8, 2009
"So you know that our fiat money are nothing more than promissory notes and, going a step further, each "bill" is a miniature contract. ". wtf wrote on Feb 7, 2009 3:23 PM:" sam wrote: "we gave $40 billion to AIG under Bush with his bailout. (Lodi News Sentinel, CA)
