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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

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
November 3,2008
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WHEN THE REFEREE MOVES THE GOAL POSTS

By William Histed

The virtual collapse of the paper economy of the world is really no surprise. The only unknown was WHEN it would occur. Some people wondered how it went on as long as it did.

Now, the only new question is whether the perception that there is real wealth behind much of this fancy paper can be furthered a while longer with even more fancy paper and impressive guarantees being issued by the greatest debtor of all.

Law enforcement will tell you of various cases of victims falling for just a new version of the old ponzi scheme. Can they keep this paper racket going a while longer? Or is the judgment of decades of artistic manipulation now at hand?

Will the con artists convince us that it was really an honest game all along and as former Federal Reserve Bank Chairman Alan Greenspan testified, he simply had a minor "flaw" in all of his handiwork.

Serious questions, such as whether the king has any clothes at all, has been raised around the world in about every neighborhood and in about every household.

Millions are stunned. How could this have happened? What has caused this world-wide crash? Can government now fix the mess it helped to make? Government and politicians, do SOMETHING, PLEASE!

No one owes more than the federal government, but guess who feels better that the government now "guarantees" more fancy paper than ever? That sound you will soon be hearing are the government printing presses making up more "Treasury Bills" and printing up more unbacked paper "funny money."

But much distrust remains, and it certainly should.

People from New York to Copehagen to Uzbekistan have lost confidence in the train loads of paper that have been dumped on the world.

I believe, sadly, this crash is going to change the geopolitical course of the world in the years ahead. It was the big bang many of our foreign adversaries have been praying for.

And we helped give it to them

Blood is everywhere in the paper arena.

Stocks, such as Ford Motor, that were around $30 just a few years ago, are penny stocks, with Ford trading at just over $2. And it's far more than the automotive industry whose future is in question. Many household names stocks are down 50, 60 and 80 percent in a matter of weeks. Millions can't look at their retirement accounts and what they have "lost."

I've heard a few people say, "It's all on paper." They don't know how true that statement is. Much of our faith is on paper.

And even if you thought you were clever and have much of your savings in "guaranteed" banks or U.S. Treasury bills, can the government guarantee you what those "dollars" will buy you in the years ahead?

Even if you are getting 3-4 percent in a CD before taxes, and your food and medical bills are going up 10-20 percent a year, how do you think you are gaining anything?

MOVING THE GOAL POSTS

I work weekends at a college with a top rated sports team. I do safety work and watch the audience. I notice the audience watches the referees as much as it does the players themselves. This is because the audience expects a fair game and they want the referees to be impartial and honest.

Sometimes, what determines the fair score of a game is not only what the players accomplish. It has much to do with the call and actions of referees. Most any sports fan will tell you that referees can defintely determine how a game ends.

According to the U.S. Constitution, the Congress of the United States is to be an honest referee with respect to our money. Check out the Constitution. It plainly assumes that gold and silver are our official U.S. money and that Congress is to oversee this. No where is there any mention of a Federal Reserve Bank, or of paper money or of anything even close. In fact, the early patriots distrusted paper. History teachers are aware of an old rebuke, "Not worth a Continental."

Our nation's founders never envisioned anything such as the Federal Reserve Bank printing our "money," determining how much of it there would be out there, or what interest rates would be. This was unheard of to them.

The U.S. government has gone from being an honest referee of our money---the coining of gold and silver which it did for about a century and a half....to the current mad method of manipulating mountains of paper for special interest groups.

And politicians have a big interest in the paper manipulation game. For it is through this scheme that they can go into the serial wars we have been fighting, do their social engineering and try to bribe other governments to do our bidding. Inflation is an unfair tax and it is just as dishonest as the farmer who waters down his milk supply to pretend he has more milk to sell.

A friend always called it "funny money," and frankly, I don't have a better name for it. It almost is like magical money, except that ultimately, there are victims of these games of manipulation who pay a real price. And often, this manipulation is done in the name of "patriotism" or "national security."

I believe one of the greatest aspects of a strong nation is having a strong currency. Remember the slogan, "Sound as a dollar?" If you are under 45, you've probably never heard it used seriously.

Some people argue the Federal Reserve Bank has nothing to do with the U.S. government, that it is owned by huge central banking interests, and I will not debate the whys and therefores because that is not the point. It's there, it's going to do even far worse damage to our country and my point is not "ownership" but "being."

If there is a mad elephant loose, rampaging through the neighborhood, the first question is not going to be the ownership papers. You know that something is wrong, damage is being done to innocent people and the matter needs to be reined in and arrested.

Today, our federal government is no longer a disinterested and fair referee, there to see that there is fair and accurate weights and composition of gold and silver.

It is a money manipulation racket and many special interests are invovled and  benefit.

One school teacher told me a while back, "This whole money system is a folly," noting huge increases in prices in the stores lately. I told her that if you want to know why a folly exists, SEE WHO BENEFITS FROM THE FOLLY.

The federal government was originally supposed to be a fair referree. Not any more. It defintely takes sides, virtually each and every time, favoring Wall Street over Oak Street.

Now, our federal "referrees" move the goal posts when it fits their liking and supports their favorite team, or they change the clock ahead or move it back, and they even make up and remark the field when it benefits the Wall Street crowd.

By "Wall Street," I am not referring to millions of citizens who have been cleverly herded into retirement plan accounts invested in stocks. I almost envy the huge brokerage houses, some which have been "bailed out," that collect commissions each and every year on such retirement accounts.

As the stock market has virtually crashed, many victims of retirement mutual fund accounts are in for another rude rip-off, as their diminishing funds will still be levied by the brokerage houses and "investment companies." They don't earn their commissions and "expenses" on gains, but on the principal amount which gets this thrashing every year.

It would be about like the local real estate company that you bought your home through coming back and hitting you with a commission every year you lived in your home until you sold it. What a rip-off?

This entire corrupt paper and thin air system was due for a train wreck, and if it were not for all of the mostly innocent people hurt by this crash, it was coming and well-deserved in my mind.

Sadly, many of the top crooks are getty federal taxpayer bailouts which are good as long as the paper dollar that will be created out of thin air have public perception of any value.

All of this scandal and thievery was accomplished by paper and blips in computers. The game of musical chairs can go on for a long time, with some being eliminated and finally, about everyone gets unseated.

The federal government, and its bed partners, the crooks at the Federal Reserve Bank, will stop at nothing to win the game for their friends on Wall Street.

If it will prop up the stock market, they will flood the "system" with "money" as they did in 2001 and 2002 which in turn gave us a real estate bubble that has now burst. If it helps "stocks," the Federal Reserve will "lower interest rates" or "add liquidity to the system."

Now, since the stock market has crashed...the Federal Reserve Bank is doing historically unheard things---even by its own standards---and is buying sometimes inflated or worthless corporate paper and is now semi-nationalizing some banking, brokerage and insurance companies.

Someone asked me, "What do you think about a so-called "conservative" Republican administration going to Congress to nationalize so much of our financial system?" I pointed out that our "currency," or our "money" as some call it, was "nationalized" a few generations ago. The currency has already been nationalized, so I guess that nationalizing those who fondle it and count it won't make a big difference in the long run.

In recent years, when literally millions of U.S. families filed for federal bankruptcy, the answer of Congress and the Bush White House was to pass legislation to make it harder for them to do so and to make it harder for them to get bailed out.

As millions faced foreclosure, Congress and the White House did almost nothing until their friends and big political campaign contributors became the victims of their victims.

Then, it was all stops out for Wall Street and the international bankers.  The government clearly is not an unfair referee. There are rules for some to follow, but not for others to follow.

I write for my local community newspaper and I said when the big Wall Street bailouts started, "You really now see with your eyes open who is runing the federal government and the country."

When it seems its big banker and Wall Street friends losing the game, they will change the rules of the game, move the goal posts and even change the level of the field to help their friends win.

The big losers in this long running paper game have been those who were prudent and saved depreciating paper dollars in the banks and those on fixed incomes. Ultimately, history says there will be some degree of fairness restored to the game. And it will come only after the audience understands the referees and one of the teams on the field have been on the same side all along.

Fans at a football game or other event involving competition would not stay long if they suspected the referees had been bought off and were deliberately helping one side at the expense of others in the game.

In fact, there are very strict federal laws about bribery and the manipulation of athletic games, even at the high school and college level! Fines can be $10,000 per incident along with prison time.

The manipulation of even a school ball game is considered a major federal crime, but manipulation of interest rates, money supplies or stepping in to help one  team in the finacial markets at the expense of others is not considered a crime. For some, it is something begged for if it helps your team.

The current collapse of the world of paper may be such a signal that the game has not been refereed fairly for a long, long time.

 And the audience is starting to wonder if it wants to hold the game tickets any longer. Too many people are now seeing their side as losing the game and are starting to question the actions of the "referees."