"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
-- Thomas Jefferson
"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
-- Thomas Jefferson
Tuesday, October 28, 2008
The real credit crisis...
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
Saturday, October 18, 2008
Tuesday, October 7, 2008
The Stock Market is broken...
I believe we have reached a point in which hedge fund and institutional investors completely dictate Wall Street.
I don't have any research to prove this yet, but I have common sense, and it is telling me that things aren't adding up. Couple that with the government thinking it needs to keep free enterprise from failing and you have a complete disaster. The market can never correct itself if our government can step in a will and save companies they choose.
I didn't live through the depression but I now understand why folks who did, do the things they do.
One might say get all your cash and hold it. However, you will still lose money due to inflation, so it is really a lose lose situation.
I don't have any research to prove this yet, but I have common sense, and it is telling me that things aren't adding up. Couple that with the government thinking it needs to keep free enterprise from failing and you have a complete disaster. The market can never correct itself if our government can step in a will and save companies they choose.
I didn't live through the depression but I now understand why folks who did, do the things they do.
One might say get all your cash and hold it. However, you will still lose money due to inflation, so it is really a lose lose situation.
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