The other thing that is different between WWII and now is that they had room on the credit cards to fund that war machine. Today we have blown it on garbage and don't have room on the credit cards to fund something like this on a global scale. We don't have anything to show for the money we spent, no manufacturing, no capital, no real source of wealth to draw on. This is going to be ugly with a capital UGLY.

I agree, I think they will try to push us into WWIII as soon as they see the funny money not working. That is why I alluded to the millions if not billions that will die due to this giant fraud unless we put the brakes on it now and let the criminals go broke... You know they have this setup as the fall back if the "public works" programs don't produce the miracle recovery they anticipate. Just like FDR this too will fall on it's face and they will be forced to extreme measures. The problems are too massive to be overcome with the kind of money they are trying to throw at it. At the current rate of spending for stimulus we will be at the same level of GDP to debt ratio we had during WWII very quickly, so where they will get the money to fight this global war is going to be interesting.

I am all for a gold standard. Money supply directly linked to the gold we have on hand. No gold leasing, no more funny money contract games with gold that has been used to manipulate the gold markets. What gold you have on hand is what you can put in circulation. Until we get back to sound money and sane fiscal policy we are all just standing around listening to the band play on the deck of the Titanic. I think if we can get the Federal Reserve audited and when the truth gets out of the fraud on a global scale we might just get the political will to run this band of banker thieves out of town... I dare to hope and dream!


Longsnowsm

 

Prior to WWII we were in an isolationist mode. FDR wanted to get us into the war, but the people felt that it wasn't our business...at least until the Japanese attacked Pearl Harbor. FDR did get us involved indirectly prior to our formal declaration of war with Germany when he came up with a "lend lease" program. Basically, he loaned or leased Great Britain tanks and other hardware they needed to fight the war. It was a way to help without having our troops directly involved. We didn't have much money or debt prior to the war beginning. In fact, I believe we actually had a balanced budget prior to the war. The war was pretty much financed with "War Bonds." Many of those who purchased them were individuals. We were still trying to come out of the Depression. I believe the unemployment rate was somewhere around 20-25% just before the war. This is from memory, but I think those numbers are close. When we first got into the war, we had thousands of men who enlisted to fight. That left mostly women and older men to build the war machines. We had massive rationing of simple things like sugar, shoes and gas. We sacrificed because of a single purpose....to defeat Japan, Germany and Italy.

 

I think that it it too late for us to move to the gold standard as the golds supply could not meet our demand.Chinese recently announced that they control over 33.89 million ounces of gold for monetary purposes. That’s an increase of 75% in Chinese gold holdings over the past six years. whenever IMF sells gold China buys it. we are behind the curve in many ways i think.


After the alcohol wears off, we will have a hell of hangover..


http://www.cnbc.com/id/33004753 am amazed to see our media actualy report on this..WOW..

"The U.S. has to quit spending, cut back, start saving, and scale backward," Robertson said. "Until that happens, I don't think we're anywhere near out of the woods.”..........

 

That is an interesting link, Dejanh. I don't understand why these people we have elected to represent us have put this country in such jeopardy. This is not something that happened over night, but you cannot continue to pass the buck when it comes to solving this problem. We need to cut government spending and start cutting payroll at all levels of government. We only need about 1/3 of the government we actually have in place. Rather than confronting the problem and trying to solve it, these people spend more money than ever. We also need to cut taxes and encourage more businesses to start up and expand. Greater fiscal responsibility and lower taxes would go a long way to encourage businesses to locate here.

 

I am not sure I buy the idea that there isn't enough gold to go around, it just means that the price of gold goes up dramatically and is no longer manipulated by the Federal Reserve. They have now been caught manipulating the price of gold with swaps:

Federal Reserve Admits Hiding Gold Swap Arrangements, GATA Says - Yahoo! Finance

They have been accused of this for decades now, but apparently now they have admitted it. A couple of weeks ago we caught them secretly buying treasuries with money they created out of thin air. Again something they said they wouldn't do. They have been asked where 2.2 trillion dollars went in bailout money and have told congress they don't have to tell us where the money went. So the plot thickens.

Strangely the weaker dollar could help propel us back to a more competitive place in the global market place. If the dollar is weaker it becomes cheaper to do business here and cheaper to manufacture here. The downside is that we become a much poorer nation than we are today for that to happen, and it means that these other countries who are playing chicken by racing to the bottom would have to wise up to the insanity and stop allowing these bankers to bankrupt their countries. So I guess we will see how this plays out.

I think it will help to reduce taxes, but it will take a lot more than that. I also think we need to wise up to the role that the international criminals have in the way this is playing out. Between the Wall Street crowd and the bankers they own this country(and planet). Unless someone puts these guys on a short leash we are not going to get out of this mess.

Our politicians are not going to pretend to act on our behalf until they think they have a reason to listen to us. Our population has become addicted to government handouts and the overbearing role it has taken in our society. Sorta like a crack head who constantly needs a fix. The government has created generations of "dependents". Unless we can wake people up and realize the dangers of the "matrix" they are in they will continue in denial.

Longsnowsm

 

I seem to recall JFK wanting to get rid of the Federal Reserve when he was president. We were a stronger country and our money was more stable when we used gold as the standard. We could not just print money when we need it. I think every country needs to have a means to back up their currency. I think the only ones who benefit from not having gold reserves are the Federal Reserve banks. Most people don't realize that the Federal Reserve is not owned by the government. It is owned by a group of banks, mostly European. I think it makes it easy for them to manipulate the world economy. I suppose you could build a good conspiracy theory around those thoughts.

 

I won't get into the rest (except for the part about last weeks 5-year being a failure; a 2.4 bid-to-cover is hardly a bust in the world of Treasury auctions) but about this gold standard...why does pegging your currency to something that has dubious intrinsic value, is easily manipulated, and is subject to volatile supply and demand pressures seem like a good idea?

 

Completely untrue.

Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

FRB: FAQs: Federal Reserve System

Indeed. False information makes the best conspiracy theories.

 

Because people see the value of gold constantly rising, and they buy into the hype that it will continue to do so indefinitely.

At current prices, there isn't enough gold to support a gold standard, which means that to go back to such a standard, the price of gold would have to increase exponentially. It would eliminate effective monetary policy to deal with fluctuations in the economy during a recession. Many blame the gold standard for prolonging the Great Depression.

 

As a truck financing company we haven't seen any change in the incomes of our clients. They all have same thing to say about income as they did several months ago. We are seeing a slight increase in submissions however.