Mark Steyn : Discredited. The Fed’s policy is accelerating American collapse

National Review ^ | 04/30/2011 | Mark Steyn

[SeekAndFind]

The other day Paul O

[paulycy]

Marxist? The strange thing is that this most impacts, steals the most, from the little people who own very little, and whose savings are in cash or bonds.

One of the fundamental problems with marxism is that it simply doesn't work as advertised. It does exactly what you describe in your post. The modern marxists know this - the hypocritical liars - and simply try to impose marxism as a way to power over the majority with a concentrated minority of rich people Just Like Them.

It is Pure Evil.

[AndyJackson]

Imagine your left hand issues an IOU to your right hand in return for an e-mail with a large number on it . . . oh, never mind, it’ll only make your head hurt.

And that is the entire absurdity of the whole thing in a nutshell, except that you can then loan some of the large number in to the credit markets and make a few percent on it, and the whole operation is sound so long as the taxpayers pay interst on the bonds the Federal Reserve owns, the whole Madoff Bernanke scam seems to run at a profit.

[Thermalseeker]

Yeah, I’ve had enough “change” to last a lifetime.....

[andy58-in-nh]

Yeah, what they are doing makes so little sense that you really have to assume that they are trying to make it collapse. We are clearly on an unsustainable path, and these guys are stomping on the accelerator.

I think many of us have reached the same conclusion. The only other conceivable interpretation is that the neo-Keynesians who now manage the Treasury and control the Fed have convinced themselves that monetary value is a meaningless abstraction, a wholly subjective thing in an interdependent world economy.

At least publicly, many of these economic intellectuals do appear to believe that our debt is nothing to worry about, and that a small cadre of central planners can effectively manage the levers of interest rates, money supply, revenue and trade policy, and do so far better than the free market, which they view as inefficient, unequal, and fatally flawed.

[PGalt]

“Onward and upward!”

Excelsior!

Defund ALL collectivist’s collectives.

The U.S.A. becomes financially solvent and we become very low-taxed prosperous/productive citizens in a country which acts as a beacon for individual liberty.

From Ayn Rand...

But when a society establishes criminals-by-right and looters-by-law – men who use force to seize the wealth of disarmed victims – then money becomes its creators’ avenger. Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

“Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.

From Frederic Bastiat...

Men naturally rebel against the injustice of which they are victims. Thus, when plunder is organized by law for the profit of those who make the law, all the plundered classes try somehow to enter — by peaceful or revolutionary means — into the making of laws. According to their degree of enlightenment, these plundered classes may propose one of two entirely different purposes when they attempt to attain political power: Either they may wish to stop lawful plunder, or they may wish to share in it.

Woe to the nation when this latter purpose prevails among the mass victims of lawful plunder when they, in turn, seize the power to make laws! Until that happens, the few practice lawful plunder upon the many, a common practice where the right to participate in the making of law is limited to a few persons. But then, participation in the making of law becomes universal. And then, men seek to balance their conflicting interests by universal plunder. Instead of rooting out the injustices found in society, they make these injustices general. As soon as the plundered classes gain political power, they establish a system of reprisals against other classes. They do not abolish legal plunder. (This objective would demand more enlightenment than they possess.) Instead, they emulate their evil predecessors by participating in this legal plunder, even though it is against their own interests.

It is as if it were necessary, before a reign of justice appears, for everyone to suffer a cruel retribution — some for their evilness, and some for their lack of understanding.

It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.

[dhs12345]

Unfortunately, many (most?) Americans don't have a clue or don't care.

They are either “Obama-money” stupid or believe that they are immune. Maybe because the numbers are too big for them to comprehend and they are “not good at math.”

Just keep those “free” entitlements coming and don't worry me with out they get paid for.

But just wait when the proverbial chickens come home to roost and the government starts reneging on all of those promises.... starting with Social Security.

Then it will get nasty. Very nasty, indeed.

[wintertime]

And a great Rush Limbaugh substitute host too.
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I enjoy Mark Steyn very much, but in the 3rd hour on Friday he really went off on the birthers.

Obama posts a blatant forgery of a so-called birth certificate and Steyn sees this as a rinky dink technicality.

[Travis McGee]

The moochers are going to go insane when the govt welfare cards don’t bring in the free food. The cities are going to implode.

[Travis McGee]

Yeah, I’ve had enough “change” to last a lifetime.....

A guest on the Laura Ingraham Show last week, the head of the black chamber of commerce (can't recall his name off hand), had a great throwaway line:

"Hope ain't hiring."

[RockyMtnMan]

“This would be the 75th increase in the debt ceiling in the last half-century.... as my colleague Jonah Goldberg put it, why have a debt limit at all?”

One set of rules for them and one for us (only it’s OUR money). We actively work to keep our crediting rating good why should we not expect our leaders to do the same when they represent US before congress?

[Steel Wolf]

///Obama posts a blatant forgery of a so-called birth certificate and Steyn sees this as a rinky dink technicality///

As usual, Mark is correct.

America. Doesn’t. Care. About. The. Birth. Certificate.

In the absence of hard evidence to the contrary, Obama has enough plausible deniability that the vast majority of Americans will accept him as Constitutionally legitimate to hold office. Get some real proof to the contrary, or get over it.

The man is dismantling our country by the numbers. That is critical and urgent. Allegations about his past, in light of what he is doing to our present and future, are in fact completely rinky dink.

[IMR 4350]

“What comes after the collapse?”

That’s What comes after the collapse Comrade if you please.

[sheana]

Don’t worry. We will have no police, no fire, no libraries, etc. Before they cut off the moochers. They will be last in the progressives lines for cuts.

[paulycy]

In the absence of hard evidence to the contrary, Obama has enough plausible deniability that the vast majority of Americans will accept him as Constitutionally legitimate to hold office. Get some real proof to the contrary, or get over it.

Actually, I think most of America is ignorant of the Natural Born Citizen argument and figure that if he was born here then he is OK for President. This is, IMO, what zer0 is betting on by releasing this forgery.

But if those who are continuing to push this issue can bring the facts to the table then they may not get an impeachment out of it - in fact I very much doubt it - but his proven lying can damage him enough to lose the election to just about anyone else.

Given the stakes of the game I applaud those who are seeking to enforce the Natural Born Citizen aspect of the Constitution of the United States, even to the point of getting it in front of the Supreme Court where it belongs.

[Grumplestiltskin]

“They’re quantitatively accelerating American collapse.
What comes after the collapse?”

That’s the BEST question I’ve seen yet.
NOBODY has asked this.

I’m just a blue-collar working guy without a highfalutin’ education or much sophistication, but it’s obvious to me that the debt collapse is now unstoppable. Even if the United States government were to stop borrowing TODAY and go absolutely cold turkey, it already owes more than can be repaid. Like a freight train with weak brakes screaming down the mountain, one can see what is inevitable.

So the issue is no longer “how do we prevent the crash?”, but rather “how do we [or at least some of us] rebuild afterwards?”

I suggest that — after the collapse — that perhaps it might not be the best thing to try to “rebuild” the _entire_ country as a whole.

To look around at the red states vs. the blue states, at the demographics of who resides in those states, it may be concluded that there are certain areas of the country that will never again become “productive”, in the sense that they will produce more than they consume (in government revenue and services).

Perhaps it’s time once again in our history for “a separation”. And once again, the issue is one of “slavery” — that is to say, economic freedom vs. economic “slavery”.

Just sayin’....

[dhs12345]

Yup. And the rhetoric will get really nasty, too. Racism, Class-ism, starving children, we must increase taxes, .....

The Dems will be in full panic mode. They (and many Republicans) made the promises.

That is why they will continue to band-aid this mess and kick the can down the road.

Wait until the mother of all boondoggles --ObamaCare-- kicks in.

[wintertime]

As usual, Mark is correct. America. Doesn’t. Care. About. The. Birth. Certificate.
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I listened to the third hour of Mark Steyn on Friday, and I absolutely share his concern and urgency. However, conservatives are capable of walk and chew gum at the same time. Because we share his deep worriment about the 53% of people who voted for Obama does not mean that we should ignore the Constitution. Mr. Steyn shouldn't either.

What was baffling about Mr. Steyn’s rant was that minutes later he was talking about equality before the law. I am amazed that Mr. Steyn does not see the contradictions in his positions. The Constitution is fundamental to the rule of law. If we define certain clauses of the Constitution to be inconvenient “rinky dink” “technicallities”, equality before the law will evaporate like dew on grass on a hot summer day.

Up until Wednesday morning polls showed the Americans **did** care about Obama’s birth certificate. As the news gets out about the blatant forgery posted on Wednesday, we may see this poll numbers rise again.

[Steel Wolf]

Americans on the whole don’t care if Obama is a liar, so long as he can deliver the bacon. If he has to lie to the enemies of free bacon delivery in order to keep it coming, so be it.

The Natural Born Citizen angle is vague and murky. The courts and congress won’t touch it. Not with a ten foot pole. Not now, not later. You realize that, right?

Obama was born in America to an American. File it under “good enough for government work”. Shake a defiant fist to the sky, but that’s sufficient for more than enough Americans to reelect Obama.

[Gritty]

But hey, let’s just jack the roof up a little higher one more time. What could go wrong?

We are being duped and run by either complete fools or malicious thieves.

As Steyn says, "What could go wrong?"

[dennisw]

And that is the entire absurdity of the whole thing in a nutshell, except that you can then loan some of the large number in to the credit markets and make a few percent on it, and the whole operation is sound so long as the taxpayers pay interst on the bonds the Federal Reserve owns, the whole Madoff Bernanke scam seems to run at a profit.

Here's something to chew on.
The Federal Reserve is a private bank that operates in its own interests
It is sopping up, buying US Treasuries because the Chinese are boycotting buying any additional ones
At a certain point the Fed will own a few trillion in USG debt and might start being nasty and dictatorial towards a President they don't like...lets say a Republican president. It might start dictating terms that the American people will consider traitorous

 

 

Ponzi Scheme: The Federal Reserve Bought Approximately 80 Percent Of U.S. Treasury Securities Issued In 2009

LINK
No, the headline is not a misprint.  According to CNBC, the Federal Reserve bought approximately 80 percent of the U.S. Treasury securities issued in 2009.  In other words, the Federal Reserve has been gobbling up the massive tsunami of U.S. government debt that has been created over the past year.  This is absolutely unprecedented, and it is yet another clear indication that the U.S. financial system is on the verge of a major economic collapse.

You see, the Federal Reserve is not part of the federal government.  In fact, the Federal Reserve is about as "federal" as Federal Express is.

The Federal Reserve is a private bank owned and operated for profit by a very powerful group of elite international bankers.

It is this private central bank that controls the money supply and the issuance of currency in the United States.

When the U.S. government needs to borrow more money (which happens a lot) they go over to the Federal Reserve and they ask them for some more green pieces of paper called Federal Reserve Notes.   

The Federal Reserve swaps these green pieces of paper for pink pieces of paper called U.S. Treasury bonds.

Now normally the Federal Reserve takes these U.S. Treasury bonds and they sell them all to other buyers.

But in 2009 there were not nearly enough buyers.

So in 2009 the Federal Reserve sold itself about 80 percent of this debt.

This is even being admitted on CNBC.  The video below is from January 8th, and at the 1:45 mark CNBC anchor Erin Burnett drops this bombshell along with a comment about how it is a Ponzi scheme....