Thursday, February 17, 2011
Gold bugs about to get squashed
http://www.marketwatch.com/story/gold-bugs-about-to-get-squashed-2011-02-16?reflink=MW_news_stmp
This is more anti-gold advice from mainstream media, the same ones who have been wrong for 10 years running.
This is more anti-gold advice from mainstream media, the same ones who have been wrong for 10 years running.
Wednesday, February 16, 2011
Parabolic Inflation and "Deficit Hysteria"
http://dollarcollapse.com/the-economy/parabolic-inflation-and-%E2%80%9Cdeficit-hysteria%E2%80%9D/
No wonder why our economy will sink. We have geniuses like Delamaide running their mouths.
The U.S. is free to print as much money as it likes; the U.S. government is free to spend money without financing it.- MarketWatch’s Darrell Delamaide
No wonder why our economy will sink. We have geniuses like Delamaide running their mouths.
Tuesday, February 15, 2011
Silver is Approaching Stage Two of its Bull Market
Thanks to Dick for finding this article on the stages of the gold and silver.
http://www.kitco.com/ind/Turk/turk_feb142011.html
http://www.kitco.com/ind/Turk/turk_feb142011.html
Monday, February 14, 2011
Africa's share of mine deals triples
As I predicted, economic activity in Africa is picking up, as emerging markets' thirst for natural resources is unquenchable.
http://www.iol.co.za/business/international/africa-s-share-of-mine-deals-triples-1.1023853
http://www.iol.co.za/business/international/africa-s-share-of-mine-deals-triples-1.1023853
Wednesday, February 9, 2011
Tuesday, February 8, 2011
The Interesting History of Income Tax," by William J. Federer
Thanks to Brian Stone for finding this:
By William J. Federer
© 2011 WorldNetDaily.com
Editor's note: The following quotes are published in the book, "The Interesting History of Income Tax," by William J. Federer (Amerisearch, Inc., P.O. Box 20163, St. Louis, MO 63123, 1-888-USA-WORD)
"It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
– John F. Kennedy, Nov. 20, 1962, president's news conference
"Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government."
– John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964
"In today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues."
– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: "The Economic Report Of The President"
"It is no contradiction – the most important single thing we can do to stimulate investment in today's economy is to raise consumption by major reduction of individual income tax rates."
– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: "The Economic Report Of The President"
"Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort – thereby aborting our recoveries and stifling our national growth rate."
– John F. Kennedy, Jan. 24, 1963, message to Congress on tax reduction and reform, House Doc. 43, 88th Congress, 1st Session.
"A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues."
– John F. Kennedy, Sept. 18, 1963, radio and television address to the nation on tax-reduction bill
"I have asked the secretary of the treasury to report by April 1 on whether present tax laws may be stimulating in undue amounts the flow of American capital to the industrial countries abroad through special preferential treatment."
– John F. Kennedy, Feb. 6, 1961, message to Congress on gold and the balalnce of payments deficit
"In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment."
– John F. Kennedy, April 20, 1961, message to Congress on taxation
"Our present tax system ... exerts too heavy a drag on growth ... It reduces the financial incentives for personal effort, investment, and risk-taking ... The present tax load ... distorts economic judgments and channels an undue amount of energy into efforts to avoid tax liabilities."
– John F. Kennedy, Nov. 20, 1962, press conference
"The present tax codes ... inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions."
– John F. Kennedy, Jan. 23, 1963, special message to Congress on tax reduction and reform
"In short, it is a paradoxical truth that ... the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country's own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
– John F. Kennedy, Nov. 20, 1962, news conference
"The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive."
– John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform
"Expansion and modernization of the nation's productive plant is essential to accelerate economic growth and to improve the international competitive position of American industry ... An early stimulus to business investment will promote recovery and increase employment."
– John F. Kennedy, Feb. 2, 1961, message on economic recovery
"We must start now to provide additional stimulus to the modernization of American industrial plants ... I shall propose to the Congress a new tax incentive for businesses to expand their normal investment in plant and equipment."
– John F. Kennedy, Feb. 13, 1961, National Industrial Conference Board
"A bill will be presented to the Congress for action next year. It will include an across-the-board, top-to-bottom cut in both corporate and personal income taxes. It will include long-needed tax reform that logic and equity demand ... The billions of dollars this bill will place in the hands of the consumer and our businessmen will have both immediate and permanent benefits to our economy. Every dollar released from taxation that is spent or invested will help create a new job and a new salary. And these new jobs and new salaries can create other jobs and other salaries and more customers and more growth for an expanding American economy."
– John F. Kennedy, Aug. 13, 1962, radio and television report on the state of the national economy
"This administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes ... Next year's tax bill should reduce personal as well as corporate income taxes, for those in the lower brackets, who are certain to spend their additional take-home pay, and for those in the middle and upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital ... I am confident that the enactment of the right bill next year will in due course increase our gross national product by several times the amount of taxes actually cut."
– John F. Kennedy, Nov. 20, 1962, news conference
By William J. Federer
© 2011 WorldNetDaily.com
Editor's note: The following quotes are published in the book, "The Interesting History of Income Tax," by William J. Federer (Amerisearch, Inc., P.O. Box 20163, St. Louis, MO 63123, 1-888-USA-WORD)
"It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
– John F. Kennedy, Nov. 20, 1962, president's news conference
"Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government."
– John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964
"In today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues."
– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: "The Economic Report Of The President"
"It is no contradiction – the most important single thing we can do to stimulate investment in today's economy is to raise consumption by major reduction of individual income tax rates."
– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: "The Economic Report Of The President"
"Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort – thereby aborting our recoveries and stifling our national growth rate."
– John F. Kennedy, Jan. 24, 1963, message to Congress on tax reduction and reform, House Doc. 43, 88th Congress, 1st Session.
"A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues."
– John F. Kennedy, Sept. 18, 1963, radio and television address to the nation on tax-reduction bill
"I have asked the secretary of the treasury to report by April 1 on whether present tax laws may be stimulating in undue amounts the flow of American capital to the industrial countries abroad through special preferential treatment."
– John F. Kennedy, Feb. 6, 1961, message to Congress on gold and the balalnce of payments deficit
"In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment."
– John F. Kennedy, April 20, 1961, message to Congress on taxation
"Our present tax system ... exerts too heavy a drag on growth ... It reduces the financial incentives for personal effort, investment, and risk-taking ... The present tax load ... distorts economic judgments and channels an undue amount of energy into efforts to avoid tax liabilities."
– John F. Kennedy, Nov. 20, 1962, press conference
"The present tax codes ... inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions."
– John F. Kennedy, Jan. 23, 1963, special message to Congress on tax reduction and reform
"In short, it is a paradoxical truth that ... the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country's own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
– John F. Kennedy, Nov. 20, 1962, news conference
"The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive."
– John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform
"Expansion and modernization of the nation's productive plant is essential to accelerate economic growth and to improve the international competitive position of American industry ... An early stimulus to business investment will promote recovery and increase employment."
– John F. Kennedy, Feb. 2, 1961, message on economic recovery
"We must start now to provide additional stimulus to the modernization of American industrial plants ... I shall propose to the Congress a new tax incentive for businesses to expand their normal investment in plant and equipment."
– John F. Kennedy, Feb. 13, 1961, National Industrial Conference Board
"A bill will be presented to the Congress for action next year. It will include an across-the-board, top-to-bottom cut in both corporate and personal income taxes. It will include long-needed tax reform that logic and equity demand ... The billions of dollars this bill will place in the hands of the consumer and our businessmen will have both immediate and permanent benefits to our economy. Every dollar released from taxation that is spent or invested will help create a new job and a new salary. And these new jobs and new salaries can create other jobs and other salaries and more customers and more growth for an expanding American economy."
– John F. Kennedy, Aug. 13, 1962, radio and television report on the state of the national economy
"This administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes ... Next year's tax bill should reduce personal as well as corporate income taxes, for those in the lower brackets, who are certain to spend their additional take-home pay, and for those in the middle and upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital ... I am confident that the enactment of the right bill next year will in due course increase our gross national product by several times the amount of taxes actually cut."
– John F. Kennedy, Nov. 20, 1962, news conference
How inflation is turning breakfast into a luxury item
I told you folks I wasn't a conspiracy theorist. By the way, this article is from Fortune/CNN, not a fringe blogger.
http://finance.fortune.cnn.com/2011/02/02/how-inflation-is-turning-breakfast-into-a-luxury-item/
http://finance.fortune.cnn.com/2011/02/02/how-inflation-is-turning-breakfast-into-a-luxury-item/
Egypt's unrest may have roots in food prices, U.S. Fed policy
This is another article submission by Kitty, and a theme I was pounding the table on last year. Citizens don't take to the streets in response to an oppressive government. They take to the streets because they are starving.
http://www.mcclatchydc.com/2011/01/31/107813/egypts-unrest-may-have-roots-in.html#storylink=omni_popular
http://www.mcclatchydc.com/2011/01/31/107813/egypts-unrest-may-have-roots-in.html#storylink=omni_popular
U.N. Food Agency Issues Warning on China Drought
Thanks to Kitty for finding this article.
http://www.nytimes.com/2011/02/09/business/global/09food.html?pagewanted=1&_r=1&hp
http://www.nytimes.com/2011/02/09/business/global/09food.html?pagewanted=1&_r=1&hp
Monday, February 7, 2011
Bank of England attempting inflation 'confidence trick', says former MPC member Kate Barker
http://www.telegraph.co.uk/finance/economics/8304054/Bank-of-England-attempting-inflation-confidence-trick-says-former-MPC-member-Kate-Barker.html
Ms Barker, who served nine years on the Bank's Monetary Policy Committee (MPC), said rising prices may have already damaged the Bank's credibility and threaten a "more profound" loss of faith among the public.
A loss of credibility is dangerous as people begin to assume inflation will remain over target and so put up wages and prices accordingly, resulting in a self-perpetuating spiral of rising prices.
"If you believe inflation is going to come back to 2pc, you are going to behave as if that's going to happen when you're setting wages and setting prices," said Ms Barker.
"Once you start to think this monetary policy isn't all that it's cracked up to be, and things need to be changed in some way, then things inevitably become more difficult."
She added: "It's like a confidence trick."
JPMorgan takes gold collateral, inflation in focus
http://www.reuters.com/article/2011/02/07/us-jpmorgan-gold-idUSTRE7162SG20110207
Good luck on JPMorgan returning clients' bullion when the proverbial crap hits the fan.
J.P. Morgan Chase said on Monday it would accept physical gold as collateral with its counterparties as a growing number of clients look to use bullion as a hedge against inflation.
Good luck on JPMorgan returning clients' bullion when the proverbial crap hits the fan.
Gold This Decade
http://www.youtube.com/watch?v=CvSEWLEqmY4&feature=player_embedded
Gold Is The Money Of Kings, And Debt Is The Money Of Slaves.
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