Tuesday, December 13, 2011

How the U.S. got from a rich country on a gold standard to the most indebted country with an unbacked currency

About 100 years ago the U.S. brought back the unconstitutional central bank (aka Fed Reserve) then about 1934 removed gold from backing the dollar internally (depositing the confiscated gold into the Exchange Stabilization Fund* under the exclusive control of the Treasurer) and in 1971 externally; all the while increasing taxes, laws & regs on U.S. manufacturers. As the negative balance of trade was increasing because of competition from Japan with electronics and cars causing decreasing U.S. manufacturing, the Fed Reserve played an increasing role in government borrowing. So it's no wonder most all of the manufacturing of U.S. consumer goods is now done in such places as China where very low taxes, wages & few laws & regs are imposed on manufacturers. Without a sufficient manufacturing base to provide the present standard of living without borrowing, with a huge amount of dollars in foreign hands via the ESF, with such a huge government deficit, and with money that is not backed with anything; what is the solution?

* Re the ESF, see

http://www.thedailybell.com/3343/Fearfully-the-US-Treasurys-Secret-100-Year-Old-Fund-and-Its-Dark-History-Has-Been-Exposed and http://www.marketskeptics.com/2011/06/the-esf-and-its-history.html

UPDATE: For a more encompassing version than mine, see http://www.thedailybell.com/​3498/What-Recovery

Tuesday, December 6, 2011

Thrive: What on earth will it take?

‎39:00 audio. The THRIVE Movie: An Exclusive Interview With Foster Gamble (Click on the start icon.) at http://worldwidetippingpoint.com/2011/11/the-thrive-movie-an-exclusive-interview-with-foster-gamble/ . I rented THRIVE today...WOW!!! It's a full length movie, the Blue Ray DVD is $25, regular DVD is $20, rental for 48 hours is $5. As yet it won't play on Internet Explorer so I installed Google Chrome in my PC. (To replay within the 48 hours, click on "rent-it" then "Log In" then "resume-it.") The movie is at www.thrivemovement.com .