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Jim Cook



Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

Best of William Histed
January 20, 2009
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The financial collapse has finally happened that only a few warned about, to the complete shock and "suprise" of those who used to belittle and ridicule such warnings.

I was one of those few, but alas, I will tell you where I was WRONG.

I knew the train wreck would happen, but I felt the silver lining would be that "everyone" would know what caused the train to leave the tracks. Even a lesson learned the hard way is still a lesson learned to head into the future. But when everyone can now see the result but not the CAUSE, I still worry about our future. What I am staying is, we still haven't learned the lesson. The true reason for the crack-up is still not understood by most people. These are the same people who only months ago were convinced there was no possibility for a train wreck.


While it is clear to those few of us who warned about the affects of dishonest money and bag of tricks accounting, what happened, the cause still seems to be just as much a mystery to those who finally admit the train did indeed fly off the tracks.

And it is rather funny now to see a parade of characters on the business networks who now say they "saw" this coming or "they just knew there were problems."

About everyone I know of who really predicted this economic collapse also told then why they believed it would happen---dishonest money and the other dishonest acts that follow unlimited printing of money.

It has been said that one big fault doesn't take long to attract cousins, that one weakness usually beds down with other weaknesses.

And so it is with the Federal Reserve Bank.

And now, the Federal Reserve is in a box, because it can't repudiate this mess caused by its extremely loose and dishonest policies, so it must print, print and add zeroes to computers. It has to keep the big lie going, only bigger.


My family was in the railroad business for over 100 years; my father was a locomotive engineer for 44 years. Growing up in a railroad town that was a division point, I saw a number of railroad accidents where very exact laws such as gravity and inertia overcame the hoped for outcome of humans. Just wishing for machinery to stay upright on the tracks is sometimes not enough.

When our economic crack-up happened, and as it continues to happen, I should have known that people discussing and debating the train wreck they can't deny, would have all sorts of reasons for the big derailment. There's guesswork, speculation and blame. It's almost fun for some people to create scenarios in their own minds as to why the train got stubborn and left the tracks.

When a train crew from my hometown had a derailment, killing one crew member, I didn't hear one person deny that there had been a tragedy. But I wager I heard ten different things the townsfolks suspected caused the train wreck. None of them turned out to be right.

The crew was going too fast, a rail must have broken, the crew failed to see a signal, there may have been drinking involved, there must have been a bad wheel, there must have been a "hot box" and a few other reasons were told around my town.

The investigation of that crash showed that there had been some warnings, even if the powers that be ignored them, that some logs on a passing train were not secure. The accident was caused when one or more of the logs had shifted and hit the train that derailed.

The point is, there had been a warning of a possible crash that would happen unless corrective measures were not taken. Such a tragedy was all but predicted.

Another point is, specific warnings and been minimized and ignored.

And the third, and probably most important point is, the people who then recognized the crash after it occurred had no real idea what caused it, even though someone down the line had warned about such an outcome and had been ignored.

This is how I'm sure some of the great voices feel who warned about this economic meltdown that has happened when a mountain of paper blew over. The answer from Washington and the Wall Street establishment is to rebuild the mountain of paper by adding more paper and hope.

Instead of seeing that this meltdown happened because of a drunken party of creating paper promises backed up by more paper, the government, central bankers, Wall Street, international speculators and others think there was not ENOUGH paper created.

There are many theories being told by those who never saw this coming. They say the "velocity" of money was too slow, or people were not spending enough, or we need to have even more loose credit and so on.

They still don't get it. And they may not get it.

As someone else stated, "Isn't it time we listened to the very people who predicted all along this was going to happen?"

Instead, the people who helped create the problem and who ignored warnings are the very people chosen to "fix" the problem. I don't think they can do it, at least not by repeating the dishonesty and ignorance that led to the problem. These are the same confident faces in the media who for years told us to relax, everything was just fine and not to listen to those "negative" voices out there.

A final thought. Why should we be amazed at the Madoff ponzi scandal...we must say "alleged" to be fair prior to trial, and other such scandals. All across the country, miniature Madoffs have been exposed at this time. Why now?

Could it be that dishonest currency and "credit" only printed off money presses and added electronically inspires other scammers?

If the Federal Reserve Bank can print up "money" at its pleasure, why shouldn't other gifted "artists" be allowed to show how creative they can be with paper and promises?

Often, when a well-known artist draws a painting, even one that seems a bit fuzzy, many are those who step forward to try their hand at it and to make a name for themselves.

The U.S. Constitution directs Congress to oversee the minting of "money," and it was openly assumed therein that money referred to is gold and silver. No other form of "money" is mentioned, not paper, not a central privately owned bank, etc.

So if the federal government is ignoring the laws and rules it wants to ignore, what else can be overlooked by anyone at all?

You see how bending the rules encourages for the creative thinking of ways to cut other corners?

I've said before the only difference between what Madoff allegedly did and what the Federal Reserve Bank does is that the government has given its central bankers the exclusive right to print and create money. Had Mr. Madoff been granted this same privelege to print all the "money" he wanted, he would not be in any trouble at all right now. He'd still be a hero to some and well celebrated in his circle of friends.

No, some of us saw the train was going to wreck, but we couldn't predict exactly at what mile post number the bang up would occur or what time of the day it would be.

I certainly take no bows that I was one of the few who predicted the wreck, sometimes at some embarrassment frankly. But I will stay humble in the fact that I never knew when the train derailment happened, now to everyone's acknowledgement, about the same number of people still don't understand what really caused it.

That's like someone finally having to admit they have a disease, but they can't understand the habits and lifestyle that caused it. That creates the possibility of even more trouble down the line.