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Conspiracy Theory

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During his most recent podcast Rush Limbaugh explained that he believes that The Deep State are secretly recruiting retired military Generals for a coup against the Trump administration.

According to AWD News

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Radio host Rush Limbaugh issued a speculative warning to his listeners that he believes the deep state and D.C. swamp dwellers could potentially be recruiting ex-military leaders to spearhead a revolution to depose President Trump, if all else fails.

During a segment covering ex-CIA head John Brennan’s statements at the Aspen Security Forum in which Brennan called upon members of the Executive Branch to effectively execute a coup if Trump fires compromised special investigator, Robert Mueller, Limbaugh offered the opinion that the D.C. establishment has abandoned virtually all rationality and respect for the democratic process due to an overwhelming hatred of the outsider President and could be prepared to take extreme measures to ensure he is removed from office.

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An interesting idea from Wayne Allen Root (Obama’s old college friend who doesn’t remember ever seeing Obama and doesn’t know anyone who remembers seeing Obama at Columbia University even though they shared the same major) gives up an interesting take on the possible team of Trump-Cruz. The only thing wrong with this dynamic ticket featuring two outsiders that the establishment doesn’t like is the very simple fact that Ted Cruz is as establishment as they come. When one see’s how the king of the Neocons took Heidi Cruz under their wing …gave her a great job with Goldman Sachs…loaned the Cruz’s money and groomed ego driven Ted for bigger things and then hears and sees Ted slobbering all over every member of the zio mafia he can find never going more than 1 or 2 seconds before he reminds us all of his love and commitment to the hub of world terrorism …the criminals who manipulated the USA over to the middle east to fight it’s wars (Yes Israel) can there be any question whatsoever that Ted Cruz is another bought and paid for lapdog and puppet names “More of the Same” … Thanks but no thanks! Still it is an interesting idea. Too bad Cruz lacks the integrity to do whats right. Here you go…CEJ

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By Wayne Allen Root

What’s that famous saying? “If you can’t beat ‘em, join ‘em.” It’s time for Ted Cruz to wake up and make the phone call that changes history, changes the GOP, changes the course of America.

It’s time to face reality. Donald Trump will be the 2016 GOP presidential nominee. Only Trump has a path to the nomination. Ted Cruz is delusional if he thinks he can win the nomination…or deserves to win the nomination.

He was shut out on Tuesday night. Shut out as in zero, zilch, zip, nada. It was Trump 4, Kasich 1, Cruz 0, Rubio cut from the team.

Cruz can’t be the nominee. We’re deep into the GOP presidential race on a key Super Tuesday and he can’t even win one state. The nomination winner can’t be 0 for 5 on a Super Tuesday. That’s not a man on the way to becoming leader of the free world.

Kasich can’t be the nominee. He just won his first state out of 27. He’s 1 win, 26 losses in the GOP race. And the one win was a “homer.” The sitting Governor of Ohio just won his own state. My guess is very few sitting Governors have ever lost their home state. So please don’t get any delusions of grandeur John! No GOP power broker is stupid enough to award the presidential nomination to a guy who is 1 win, 26 loses. That would be the death of the Republican Party.

That leaves one man left standing — Donald J Trump.

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But the story doesn’t end here. Because Ted Cruz still has a river card to play. It’s time to put ego aside and play your hand Ted.

Back in 2012 I desperately wanted Newt Gingrich to pick up the phone and call Mitt Romney. Newt should have said to Mitt, “The writings on the wall. You’re the winner Mitt. But I will put my ego aside to save America and unite the party. I’ll take the V.P. slot. Let’s combine forces and we’ll win the White House together. I represent the base — conservatives and Tea Party activists who bleed red for the GOP. If you pick me, together we change the course of history. If you don’t pick me, millions of conservatives stay home and you lose. So let’s go to the dance together.”

But Newt never made the phone call. Mitt lost. The GOP lost. Capitalism lost. The middle class lost. America lost. 

Today we see the price we paid — GDP near zero. Ninety-four million working-age Americans no longer working. Manufacturing collapsing. More businesses closing each day than opening. Record highs for food stamp use. Middle class Americans being bankrupted by Obamacare. Middle Class jobs have disappeared. The national debt is a staggering $19 trillion. We are entering an Obama Great Depression. If only Newt had made that phone call.

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Ted, don’t let your ego get in the way. You’re 45-years-old. You will never beat Trump. But you can be part of history. You can be part of the team that wins the White House and saves America. Tell Donald to take the next eight years. You’ll take the next eight. Eight years from now you’ll still be only 53 years old. Pick up the phone and call Donald Trump. Tell him you’ll take V.P.

Here’s the important part. If Cruz sets aside his ego, Trump/Cruz will stick a stake through the heart of the arrogant, elitist GOP establishment once and for all. Trump and Cruz are the only two truly “outsider candidates.” Trump has never run for office. Cruz is the most hated man in the U.S. Senate. They are the only two candidates both the GOP establishment and D.C. establishment could never allow to become nominee.

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Together they control just under 80 percent of the delegates (1,017 out of 1,323). By combining forces, Trump and Cruz have routed the establishment. They’ve given hope back to the GOP base. They’ve given power back to the people. The establishment has lost the party. The establishment is out in the cold. Trump/Cruz can’t be stopped. The GOP will never be the same. America will be saved.

One more point that must be addressed. — Critics of Trump argue that polls show Cruz is a better candidate versus Hillary than Trump.

First, that’s a non-issue. Because Cruz can’t beat Trump, so Cruz will never face Hillary.

Finish this interesting story at it’s source …. here (Click)

 

 

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True to form the mainstream media has been doing its very best to keep the impact and reality of Obama’s immigration amnesty, power grab under wraps. DON’T LET THEM DO IT! Stay on your congressmen every single day to put a stop to this lawless act. Not only is history on our side but we are in the majority (and it isn’t even close). I don’t know about you but I am sick and tired of congress not doing what we sent them there to do! Here are the stats all on one place! You may not realize that this is the most important battle for our way of life and our quality of life we have ever been faced with! Nothing will set this country back further than allowing this to happen against our will!

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62% of US voters oppose Obama’s amnesty plan via executive action. (Rasmussen Polling, November 25, 2014)
24% now say Obama has the legal authority to change immigration policy without agreement from Congress. (Rasmussen Polling, November 25, 2014)
26% per cent are in favor of Obama’s plan. (Rasmussen Polling, November 25, 2014)

75% of voters answering exit polls in the 2014 Midterm elections Reject Obama’s Executive decree amnesty plans and

80% did not Want Foreign Workers Taking Jobs from Americans. .” (Kellyanne Conway’s The Polling Company, Election Day November 4, 2014)

74% of voters believed that “President Obama should work with Congress rather than around Congress on immigration and separately. .” (Kellyanne Conway’s The Polling Company, Election Day November 4, 2014)
“Voters overwhelmingly prefer an immigration system that protects American workers,” the polling memo states. “Therefore members of Congress should feel confident that voters will support actions using the power of the purse to protect American workers from Obama’s executive amnesty threat.” (Kellyanne Conway’s The Polling Company, Election Day November 4, 2014)

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90% of Americans Believe Illegal Immigration Serious Problem and most Want Expedited Deportations! (Associated Press Polling, July 24-28, 2014)

67% of respondents felt that illegal immigration was an “extremely” serious or “very serious” problem.

Another 22% felt it was a “somewhat serious” problem, while 10% said it was “not too/at all serious.” A majority of respondents said that illegal immigrant juveniles fleeing violence should not be given refugee status and feel the law should be changed so those not from Mexico and Canada can be more quickly deported. (Associated Press Polling, July 24-28, 2014)

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64% of Americans believe “things in the U.S. feel like they are out of control right now and expressed mounting alarm about illegal immigration, . (Politico, October 20, 2014)
Nearly two-thirds of likely voters in battleground races this fall disapprove of President Barack Obama’s handling of immigration which should serve as a dire warning to Republicans like John Boehner, Paul Ryan, Marco Rubio, and other Republicans trying to help Obama pass amnesty. (Politico, October 20, 2014)

Nearly Two Thirds of Oregon Voters ‘Likely’ to Reject Driver’s Licenses for Illegals by rejecting Measure 88 on the Nov 4 ballot in Oregon, but illegal alien supporters are spending massive amounts of money to trick voters into supporting it instead!
61% of likely voters were opposed to Measure 88. 53% said they were “certain” to oppose the measure while another 8% said they were opposed to it but “may change mind.” 26% of Oregon voters said they supported giving driver’s licenses to illegal immigrants while 5% said they supported the measure but “may change mind.” (Oregon Public Broadcasting Poll, October 8-11, 2014)

THE LATEST DEMOCRAT VOTE DRIVE, OBAMACARTOON
63% of Hispanics and 57% of Blacks say the government is not doing enough to enforce U.S. immigration laws and 78% of Whites and 74% of all respondents want tighter border security! (The Polling Company, Inc., August 20, 2014)
71% of Blacks and 63% of Hispanics believe the government “has a responsibility” to protect job-hungry Americans “from competition with illegal immigrants.” (The Polling Company, Inc., August 20, 2014)

About three-quarters of Whites (77%) and all respondents (74%) agree that the government has a duty to protect Americans from job competition by illegal aliens. (The Polling Company, Inc., August 20, 2014)

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71% of Americans, including a majority of Democrats, say that illegal immigrant newcomers should NOT receive government benefits! Only 16% think “they are entitled to government aid” while 13% are undecided. A strong majority (68%) also “say the new illegal immigrants should not have the same legal rights and protections that U.S. citizens have,” and that includes a plurality–and a near-majority–of Democrats (49%). The poll found that “89% of GOP voters and 70% of unaffiliated’s think illegals should not have the same legal rights and protections that U.S. citizens have! (Rasmussen Polling, October 1, 2014)

Gallup poll recently found that 65% of Americans disapprove Barack Obama’s handling of immigration while

68% opposed Obama’s handling of illegal immigration in an Associated Press-GfK poll. A recent Reuters poll found that

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70% of Americans believe illegal immigrants “threaten traditional U.S. beliefs and customs” while

63% felt that “immigrants place a burden on the economy.” And a Polling Company poll that found that a majority of Americans wanted fewer immigrants at this time found that
“90% of likely voters feel that “U.S.- born workers and legal immigrants already here should get first preference for jobs.” (Pew, Gallup, USA Today, and Press-GfK polls, August, 2014)

63% of all Americans oppose work permits for illegal immigrants!

63% opposed while only 34% approved.

The poll also found that 73% of Americans, including 78% of independents, 54% of Democrats, and 80% of young people, would rather have Obama work with Congress instead of going it alone. (Investors Business Daily/TIPP Poll August 23-34, 2014)

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8 of 10 evangelicals reject clergy’s push for amnesty; 29% want border closed to future immigration, and 73 percent, said that, instead of bringing in more immigrant workers, employers should be ‘required to try harder to recruit and train, Americans from those high-unemployment groups. And most evangelicals, 68 percent, said they are willing to pay higher prices if it is necessary for employers to raise wages to fill jobs with Americans instead of adding more foreign workers. 75 percent chose that “nations have a moral and sovereign right to decide which and how many immigrants can enter.” just 12 percent of 1,000 likely evangelical voters believe that the Old Testament verses on the “stranger among us” mean the government should give work permits and legal status to illegal immigrants. according to (Pulse Opinion Research — February 23, 2014)
71% of Americans, including a majority of Democrats, say that illegal immigrant newcomers should NOT receive government benefits!”90% of likely voters feel that “U.S.- born workers and legal immigrants already here should get first preference for jobs.” (Pew, Gallup, USA Today, and Press-GfK polls, August, 2014)
71% of Blacks and 63% of Hispanics believe the government “has a responsibility” to protect job-hungry Americans “from competition with illegal immigrants.” (The Polling Company, Inc., August 20, 2014)

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90% of Americans Believe Illegal Immigration Serious Problem and most Want Expedited
Deportations! (Associated Press Polling, July 24-28, 2014)

Any Question?

 

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A Shot Never Worth Taking: The Flu Vaccine ~ by Kelly Brogan, MD

Deep into my 6th year of researching and investigating the damning science that condemns vaccine efficacy and safety – yes, all of them – I am beginning to turn my attention more to the societal memes and the individual belief systems that protect and perpetuate tragically flawed and unacceptably dangerous collective behaviors. The information is OUT THERE, brilliant scientists, physicians, and researchers without financial ties and agendas have weighed in and presented their concerns about vaccine safety and efficacy, however, the average citizen resists and clings to a hyper-simplified, seemingly “safe” stance. “Well, I’m not against vaccines, I mean, they’ve done a lot. I’m sure there are some risks, but they’re extremely rare.” I understand, now, that, my collection of PubMed articles substantiating concerns about inefficacy, neurological, autoimmune, and fatal risks of these poorly conceived and anachronistically relevant immune modulators is not meaningful to someone who is not interested.

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The questions raised by this information are not provocative to someone who needs, above all, to believe that the government, the CDC, and doctors mean well, are doing their due diligence, and that they are holding themselves to a basic standard of ethical delivery of healthcare. They are not meaningful to someone who needs to outsource their power. Instead of debating the science, what it may take to change to bring awareness to this egregious misuse of medical authority is, one of two, non-scientific, anecdotal exposures:

1.They see it doesn’t work, and may even cause illness

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I have several pediatricians as patients. Unprovoked, all of these women have confessed to me that they have observed increased virulence in their vaccinated populations. It is this clinical experience that has given them pause about the heavy-handed mandate coming down from the CDC. “Oh!” I say, “Have you read the studies that suggest increased risk of infection in the vaccinated population? There’s THAT ONE where they actually used a saline placebo in 115 children and found that those vaccinated had a 4.4 times increased rate of non-flu infection? Or how about that CANADIAN ONE where they looked at 4 observational studies and found that 2008-2009 H1N1 vaccination was associated with a1.4 to 2.5 increased risk of actually contracting said virus?” Only after they have a personal template within which to fit the science affirming their observations, do they have room to hear it. But what of all of the children they have brought this ineffective and dangerous intervention to?

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2.They know someone harmed

It is basic human psychology that what is out over there is irrelevant at best, and threatening at worst. What is near and familiar is what is true. Few of us seek to bridge gaps between what we are surrounded by and what may be out there to learn. The difficulty of appreciating the scale of harm brought to the population by vaccination practice is related to the insidious nature of immune and neurologic insult. The CDC can report, as they do, that brain inflammation and death are known side effects of every vaccine, but most do not appreciate what brain inflammation looks like. That this can look like ADHD, autism, learning delay, and that autoimmune disorders can take years to manifest. Tracing the thread back to the vaccine exposure can only be done with studies that assess vaccinated versus unvaccinated populations. These have not been done.

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Tragically, we all know, now, of someone who has died from the flu vaccine, just this past week. CHANDLER WEBB, a healthy 19 year old, was given a “routine” and “recommended” flu vaccine at his physical, one day before he became violently ill, and one month before he died. He died from vaccine-induced encephalitis, a known risk of this intervention. In addition to feeling remorse for the pain that this family is experiencing, I feel rage for what I believe to be manslaughter. This is a medical intervention, delivered without any regard for its objectively determined lack of efficacy, and its potential to maim and kill healthy adults. The propaganda surrounding this CDC and government-endorsed practice is so thick that doctors treating this young man were blind to even the most obvious of causative insults. If doctors cannot appreciate a documented adverse event that occurs within 24 hours, you cannot expect the system to acknowledge more complex disturbances to the immune system and neuorologic development that will land you and your loved ones on medications and in therapies for life. And, remember, that this family cannot sue the physician who pushed the needle or the pharmaceutical company who created the lethal product.

I think about the Cliff’s Notes version, a distillation of why the flu vaccine is evidence that our government and regulatory bodies have forgotten us, and are following an objective that may leave you lying dead on the side of the road. I know that few of you will read the papers that I have read, attend lectures, seminars, and dialogue with concerned experts. If nothing else, digest these important points, and then wait until this issue gets close enough to you to change your mind on it…hopefully before it’s too late.

It’s not indicated: I’m sure you don’t know a single person who has died of the flu, and if you think you do, I can almost guarantee you that the diagnosis was not confirmed in a way that ruled out the 150-200 infectious pathogens that cause flu-like syndromes, none of which would be “covered” by the vaccine. Despite the astronomical figures the CDC flashes before us of “flu deaths”, there were 18 (yes, 1-8) confirmed in 2001, for example. Access to these figures is suspiciously concealed, but in the end, forget the stats, and use some common sense to see the fear mongering and sales marketing for what it is.

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It doesn’t work: The Cochrane Database – an objective, gold-standard assessment of available evidence has plainly stated, in TWO STUDIES, that there is no data to support efficacy in children under two, and in adults. Even the former Chief Vaccine Officer at the FDA states: “there is no evidence that any influenza vaccine thus far developed is effective in preventing or mitigating any attack of influenza.” Liking the idea of being protected from the flu does not equate to being protected from the flu. That’s essentially what your vaccine-promoting doctor (or pharmacist) is engaging in – promoting an idea.

Should there ever be a medical intervention appropriate for everyone? It’s being pushed on demographics where it is known to be ineffective, or is unstudied and likely unsafe including children, adults, elderly, and pregnant women as reviewed on THIS WEB SITE and GREENMEDINFO. I write about how this offends my sensibilities as a perinatal physician HERE.

We just don’t know what we are doing: The grave possibility of undetectable viral proteins in the chick embryos used to culture vaccines is just an example of how the immune roulette of vaccine development and rampant implementation has resulted in death and lasting injury. C. jejeuni contamination, for example, IS THEORIZED TO PLAY A ROLE in documented risk of Guillain-Barre paralysis after flu vaccine. Producing antibody response to virus and associated toxic preservatives is not immunity. We know that now.

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As those of us who shake our heads in pain and frustration watching the sheep get herded off the cliff, we refrain: these agents cannot be considered “safe and effective” and also “unavoidably unsafe” as the government agencies would have us accept. They are avoidably unsafe, in fact, when you don’t use them as part of your healthcare. ~Kelly Brogan, MD –

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See more at: http://www.vaccinationcouncil.org/2013/11/27/a-shot-never-worth-taking-the-flu-vaccine-by-kelly-brogan-md/#sthash.1pf252nV.dpuf

– See more at: http://www.vaccinationcouncil.org/2013/11/27/a-shot-never-worth-taking-the-flu-vaccine-by-kelly-brogan-md/#sthash.1pf252nV.dpuf

For those of you who read Zerohedge you will be familiar with Tyler Durden’s ability t constantly supply insightful commentary on whats happening in our financial markets today and why …I have never read a treatment of this topic spelled out so that even the unsophisticated can understand it and in doing so he is calling out the shadow government who is quickly putting this country on a collision course with its own destruction and enslavement. This great article written by Mark Jeftovic  will wake a few more people up to what’s really happening, by whom, and why!  E

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Cronyism In The 21st Century

Submitted by Tyler Durden on 06/21/2014 22:48 -040

Authored by Mark E. Jeftovic, CEO easyDNS Technologies; originally posted at DollarVigilante.com,

Ghandi was once asked, “What do you think about Western Civilization?” to which he famously replied “I think it’s a good idea.” He may as well have been talking about free market capitalism.

Capital in the 21st Century has hit the world like a new teen idol sensation. Everybody is drinking the Kool-Aid and its being held up as the most important book ever written on the subject of how runaway capitalism leads to wealth inequality. Paul Krugman of course, loves it. As does every head of state and political hack in the (formerly) free world. A text-book sized brick that can be condensed down to a couple bullet points:

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  • that unchecked capitalism leads to increasing wealth inequality, and
  • this can be fixed through government management, most notably more taxes and higher minimum wages.

What’s not to love?

There are many other refutations of Capital circulating, most of which address the numerous factual errors and flawed research methodologies in the book, and countering the income equality assertions with observations around how the standard of living generally increases across the board during periods of free(er) market capitalism (such as England during the industrial revolution under the classical gold standard or wider Europe during the High Middle Ages).

The age we live in today is not an example of this. I submit that the modern run of standard of living increases, say from end of WWII to present is not an example of “free markets given room to run”, but rather a crack-up boom fuelled by credit expansion (cheap money) and cheap energy. This era is now drawing to a close, as the cost of energy inexorably rises and the global debt super-cycle finally hits a wall. After decades of government targeted inflation, after the better part of a decade of ZIRP, after increased regulations in every aspect of our lives, after civil liberties being for the most part abolished (after all, the government is allowed to assassinate any one of us and we are all under continuous pervasive surveillance) what is difficult to fathom is that political economists can still make hay in the world by blaming its problems on capitalism gone wild and runaway free markets. Put simply, true capitalism requires free markets, free markets require a free society and we do not live in a free society.

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So let’s do something different here and accept a core premise of Capital, and say that wealth inequality is increasing, and that it’s a bad thing. Where the point is completely missed is in what causes it (ostensibly “free market capitalism”) and what to do about it (increase government control, induce more inflation and raise taxes).

The point of this essay is to assert that it is not unchecked capital or runaway free markets that cause increasing wealth inequality, but rather that the underlying monetary system itself is hard-coded by an inner temple of ruling elites in a way which creates that inequality.

We’ll see that wealth doesn’t “run away” in a logarithmic fashion (perhaps hinted at by Pareto and captured in various “1% memes”) but rather can be best visualized as a vortex, like a tornado, or more accurately, a black hole, a centre swirling around a political/monetary/cronyist nexus that sucks wealth into it from the periphery (the rest of society). Society itself is hard-wired to facilitate this in such an entrenched and subtle fashion that we have arrived in a zeitgeist in which the key facets of this system (the nature of money itself) is out-of-scope. It’s not even part of the debate because almost everybody in society is oblivious to it’s machinations. (This is the reason why in my writings I do not refer to underclass or overclass but rather, the “outer-class” and the inner elites.)

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Because the nature of money itself has been so, for lack of a better word, “esotericized”, I need to include Stephen Zarlenga’s seminal work “The Lost Science of Money” in our expose. While Zarlenga blesses us with an exhaustive study of money and banking practices throughout history, and does a superb job deconstructing the perniciousness of central banking and debt based money systems, he erroneously arrives at conclusions favouring direct government creation of fiat money (he even came out in favour of that whole “Trillion Dollar Coin” idea because to him it signaled a tacit admission that the government doesn’t really need the Federal Reserve). However even his arrival at this seemingly (to us) off-base solution tells us something vital about the system within which we are all immersed.

This is what it tells us: if smart, scholarly people happen to believe that government fiat money is both feasible and beneficial to society, and they put serious thought into devising such a system, what they will not come up with is one run by private central banks issuing debt-based money. They just won’t. Any critical analysis would grasp that such architecture would become a parasitic cancer on the entire society. When you realize this, it’s hard not to posit a far-reaching conspiracy to institutionalize inequality. While I am a big believer in the maxim “never ascribe to conspiracy what can be explained by stupidity” it to me falls short in this case. When we look at the structure of the entire monetary system and realize that it’s the worst way possible to design such a system if you have the best interests of the wider society in mind then you can’t help but ask in whose interests was it designed and implemented?

As such, the system within which we find ourselves seems to be one that isn’t designed to be in the best-interest of most of us reading this (and would remain true even if you were inexplicably reading this on Huffington Post, Slate or Business Insider).

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If we want to understand where wealth inequality comes from, “The Lost Science of Money” is a good place to start  for two reasons: 1) his book is an exhaustive history of money, even if one disputes some of his takeaways from it) and 2) like many libertarians and an-caps, he understands the pernicious, malignant effect of private central banking. His ideal solutions may not fly (government controlled fiat, because governments will always inflate and debase) but his exposure of the fraud is convincing. Zarlenga’s main thesis can be put briefly that the primary arena of human struggle throughout history has been mainly over the monetary control over societies. If Zarlenga had to put it in one sentence, which he did, it would be this one:

“It is by misdefining the nature of money, special interests have often been able to assume control of society’s monetary system, and in turn, the society itself”. (emphasis added, and you’ll see why soon). He broke his book (almost as big as Capital) down into sections, examining that:

  • The Main Obstacle is The Mystification of Money
  • Monetary History Has Been Ignored
  • Monetary History Has Been Censored
  • Monetary Data is Often Misinterpreted

All of which is correct and explains why a book like Capital is on the New York Times Best Seller List. The premise that wealth inequality is caused by unchecked capital formation (a.k.a runaway free markets or capitalism gone wild) derives from the biggest misinterpretation of them all. It’s not only monetary data that is misinterpreted, it’s the entire framework around monetary policy itself which leads to these increasing imbalances. In other words, it is the structure of our monetary system itself which institutionalizes accelerating wealth inequality. Thus, taxation, intentional inflation, credit expansion, money supply injections and central planning all exacerbate income inequality, they do not alleviate it. Pikkety is a political economist (as is Krugman) and Zarlenga calls political economists the “Priesthood of the Bankers.” Among the Priesthood I’ll again list off Zarlenga’s bullet points but this time I’ll inject my own interpolation of their meaning in today’s climate:

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Ideas rule:

Here we mean academic political economists with no real world financial, market or business experience devise elegant theories which look good on a blackboard, will earn them Nobel Prizes and become ensconced into the prevailing orthodoxy of conventional economic thought. Governments can then utilize these theories (or self-serving adaptations of them) to justify monetary polices that enable them to live beyond their means or otherwise further their own interests and those of their cronies.

 

These policies are utterly backwards in that they posit what economic forces should do according to some model, instead of trying to understand what they actually do based on observed results. When you do unleash Nobel laureates with their theoretical constructs on the real world, you don’t get “green shoots”, you get LTCM.

Economists as propagandists.

Two words: Paul Krugman.

Economics degenerates from the scholastics

Even the untouchable pillar of Keynesianism is a bastardized caricature of what Keynes actually said, which was that governments could smooth out the business cycle by deficit spending during bust years by running surpluses during the boom years. In it’s most basic form this just means saving for a rainy day. But governments don’t do that, because (as people like Krugman opine) “the government doesn’t have to pay it’s bills”. Thus, it’s all deficit spending, all the time. The last US president to actually run a surplus and pay down debt was Eisenhower (the so-called Clinton era surpluses were a sleight-of-hand fiction). The last president to pay off the debt was Andrew Jackson.

Fostering a disdain for the lessons of history

You can look at almost any financial panic, especially over the last hundred years, and you’ll see the same thing play out repeatedly.

 

For example, if you go back and look at the S&L crisis and the policy response to it, one is stricken with the similarities between then and now, how nothing was actually resolved in the policy response to S&L, in fact just the contrary, how bad behavior and incompetence were rewarded instead of allowed to be punished via free enterprise rules of engagement.

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The pattern is as follows:

  •     poor policy, credit expansion, government management of the economy (i.e. housing bubble) and insulation from consequences by special interests (bankers, etc) leads to a panic.
  •     government bails out bad actors at public expense
  •     massive wealth transfer from public to elites occurs
  •     free markets and runaway capitalism blamed
  •     additional regulations imposed restricts range of operations of non-elite players while enabling elite cronies to externalize losses
  •     additional controls over economy enacted (ZIRP, new regulations, etc)
  •     increased government debt (stimulus, etc)
  •     next wave crack-up boom inducedIn Special Privilege,  a chapter entitled “The Recurring Nightmare” enumerates the serial financial panics of the 19th and early 20th centuries (to wit: The Panic of 1819, The Panic of 1837, The Panic of 1857, The Panic of 1873, The Panic of 1893, and the Panic of 1907, whose policy response led in a straight line to The Federal Reserve Act of 1913). LoCascio poses the question “Isn’t There A Lesson Here?” He went on to observe,LoCascio published Special Privilege in 2001 (he died in 2006), but large swaths of his work could easily be cut and pasted into the aftermath of the Global Financial Crisis and no doubt, will be highly germane during the forthcoming, next crisis. The only difference being that after the next, inevitable (possibly imminent) wave of financial panic, it may be impossible to kick the can down the road yet another time. We may have finally, collectively come to the end of the line on “the great fiat monetization of everything” and be barreling toward the brick wall of unsustainability at the end of the runway.The big question around wealth inequality is this: why does wealth inequality increase as the distance from the nexus of political power increases? Why does wealth concentrate toward the centre? When asked this plainly, the answer becomes just as obvious: because the system is rigged that way.Whether you don’t believe in a classical gold standard (Zarlenga) or you do (LoCascio), whether you think bitcoin is viable or lunacy, where all these schools of thought intersect is at the point that finds private, fractional central banking a blight on civilization that leads to cronyism oligarchy between banksters, career politicians and corporate/kleptrocrat elites and this is the point that is most vociferously relegated out-of-scope in any kind of dialog around today’s central, pressing issues of the time.“The ultimate crisis will occur when the situation is so thoroughly perverted that the defenders of the status quo can no longer resurrect confidence in the system.”People are still very willing to believe in Unicorn Economics, the emergence of crypto-currencies such as bitcoin point to a widening rejection of that, but it will likely not achieve critical mass until the wheels come off the current system altogether.As I completed writing this essay, the ECB announced negative interest rates, in other words NIRP. This is sold to the public as a mechanism to spur bank lending to – again – stimulate the economy. What nobody asks is how the financial system can be so distorted, so perverted that policymakers can simultaneously implement negative interest rates while holding on to claims of legitimacy around their ability to “regulate” or “manage” the economy, or that the wider society is actually benefiting from these policies. If you think – and I know some otherwise highly intelligent people who do – that this is just some highly abstract financial smoke and mirrors that doesn’t really mean much in the real world, remember where you read this first: when NIRP fails to stimulate lending, the next Big Idea in Unicorn Economics will be to target money velocity and put expiry dates on cash. It’s the next logical step once you’ve entered the Twilight Zone as we have, and that’s also what you get when a global monetary system based on perpetually expanding debt approaches the end of the runway. (Or as as Fiat Paper Money author Ralph T Foster put it,  “Reading history is a harmless pastime, reliving it is another matter.”)
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  • Postscript:
  • What Pikkety has succeeded in is proving that we are not there yet. The propensity of the masses to rally behind this shows that confidence in the system is still long and strong. But what we are seeing are fissures in the logic – not only in books like Capital in the 21st Century but in entirely new and nonsensical economic schools of thought seemingly conjured out of thin air for the sole purpose of justifying and explaining away the otherwise unavoidable distortions and non-sequiturs of our economy (such as Modern Monetary Theory and Modern Monetary Realism – more on those in another post ).
  • As LoCascio predicts,
  • Because that is wealth inequality in action. When looked at from this angle you are able to see the underlying flawed assumptions that are otherwise considered “out of scope.”
  • This is what is so maddening about the irony of a book like Capital, chock full of fallacious data and erroneous conclusions makes Pikkety hotter than Justin Bieber, while brilliant historians such as LoCascio die in obscurity. The fact is that financial panic, followed by institutional wealth transfer (and confiscation) is systemically ingrained into what is called “conventional economic thought”
  • “During the 50 years of the National Banking System, currency had increased from roughly  $1 billion to $3 billion –or, by a factor of 3. Bank loans on the other hand, grew from roughly $0.5 billion to $13 billion–or by a factor of 25. This provides a rough numerical measure of the tendency (which continues to this day) that money creation has been tied to debt creation by banks.”
  • Little if any attention, however, was focused on the role the prior euphoria played in causing the resulting panic. Rather, attention was focused on the panics themselves and the virtually unanimous conclusion by those in position to bring about reform, was the great elasticity of currency would ameliorate, if not eliminate, the panics.”
  • “The 19th century and early 20th century  panics were so uniformly accompanied by the liberal extension of credit for speculative purposes that any serious reviewer of these events could not possibly fail to hypothesize a likely causative relationship.
  • The cycle repeats each time ensuing bubble and subsequent meltdown increasing by an order of magnitude. Which brings us to Vincent LoCascio, probably the most under appreciated commentators on our monetary system of this era. If ever there was a pair of “must” read books about what really causes wealth inequality in our society it is his Special Privilege: How the Monetary Elite Benefit… At Your Expense, and The Monetary Elite vs Gold’s Honest Discipline.

No Global Warming in 18 Years

http://www.newsmax.comgw0

On September 21, an estimated 300,000-plus demonstrators turned out for the People’s Climate March in New York City to call for international action against climate change.

Two days later, President Obama addressed the United Nations General Assembly and called on all countries to cut carbon emissions “right now.”

And eight days after that, October 1, will mark 18 consecutive years without global warming.

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There has been “no significant warming trend in surface average temperature” in those 18 years, said Patrick Michaels, director of the Cato Institute’s Center for the Study of Science.

Al Gore and other climate change alarmists will have to concede that their predictions of catastrophic global warming were off by a long shot, Michaels, who has a doctorate in ecological climatology, told CNS News.

“It has to be admitted eventually that too much warming was forecast too fast,” he said. “This just has to happen. You can’t go on and on and on.

“If the surface temperature resumed the warming rate that we observed from, say 1977 through 1998, we would still go close to a quarter of a century without significant net warming because there’s such a long flat period built into the record now.”

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Michaels pointed to findings by the University of Illinois’ Polar Ice Research Center that Antarctic ice “is at its highest extent measured by the current microwave satellite sounding system” since 1978.

“And if you take a close look at the Arctic data, it appears the decline [in polar ice] stopped around 2005/2006, which means we’ve almost had 10 years without any net loss in Arctic ice.”

Michaels spent three decades as a research professor of environmental sciences at the University of Virginia and was a contributing editor to the United Nations’ second Intergovernmental Panel on Climate Change report.

He noted that in a survey earlier this year, global warming ranked No. 19 out of 20 issues that Americans consider top priorities — and contrasted that with Secretary of State John Kerry’s recent proclamation that climate change is “the biggest challenge of all that we face right now.”

Michaels told CNS: “I would say that his order of needs is a little bit out of whack.”

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The Campaign for Immorality

People don’t like to talk about America’s culture for the same reason that a man who just had a heart attack doesn’t want to discuss the double bacon cheeseburger he’s eating. He knows what he’s doing is killing him, but it’s easier not to deal with it. We’re in the same boat. Take the following examples of what our culture has become
* We treat success as an accident or a cheat while defending people who make bad decisions, who won’t educate themselves or who won’t work.
* We’ve allowed pornography to become so accessible that it’s practically universally viewed, even among teenagers.
* We love victims so much that people actually fake hate crimes to claim victim status.
* We celebrate losers and deviants by giving them their own reality shows. Meanwhile, Hollywood regularly portrays businessmen, Christians and soldiers as the worst people on earth.
* More children have died because of Roe v. Wade than were killed during the Holocaust.
* Marriage is falling apart and we’re encouraging that by pushing gay marriage.

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* Our universities reward Communists, terrorists and blatant anti-American sentiment with professorships. Those are the last people who should be teaching impressionable young Americans.
* There’s a whole grievance industry full of people who make a living claiming to be “offended” by things.
* Religion and morality are denigrated while nihilism and immorality are considered cool.
* Legalism has superseded morality and what’s “right” and “wrong” has become secondary to what’s “legal” and “illegal.”
* We’re the greatest, most powerful, most prosperous and most virtuous nation that has ever existed and despite all of that, we obsess over our nations faults instead of our achievements.
* Americans across the spectrum are being encouraged to separate themselves off from the larger culture and nurse grievances that barely would have been given a thought a few decades ago.

consequences
Yet, we’re told that we shouldn’t worry about any of these things because people have always worried about our culture and things have turned out just fine. Even if that’s so, have you ever considered the possibility that worrying about the culture and taking steps to keep it from getting out of hand is exactly what once kept it from going to the dogs?
Yes, there was a time when people worried about Elvis provocatively shaking his hips on stage and it’s easy to laugh at that, but wouldn’t we be better off if that was one of the biggest moral problems we faced as a society today? We don’t like to admit the ugly truth; we’re more educated and much less racist than we used to be as a society, but we are also morally inferior to Americans from fifty years ago in almost every other way that matters.
Many people believe Rome fell because of a decline in morals while the Soviet Union disintegrated because they spent so much money trying to keep up with Reagan that they went broke. Well, we have both problems going on simultaneously. Meanwhile, preppers have become legion. Billions of dollars are being held back from the economy because people are saving up in case there’s an economic collapse. Businesses are sitting on mountains of cash and looking to move their headquarters overseas. Many educated, informed people believe America is headed towards bankruptcy or runaway inflation not in fifty years, but within the next decade or two. If you’re looking for signs that this country is in deep trouble, there are red flags galore waving in your face.
But this isn’t just an economic problem, a spending problem or a leadership problem — although those are all concerns. It’s a cultural problem with our morals and what we value as a society on the most fundamental levels.
* In practice, our society focuses almost exclusively on the short term without thinking about the long-term consequences of our actions.
* We have a higher moral standard for the NFL than we do for our own leaders in Washington.

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* We have a political party dedicated to the idea taking things from people who’ve worked for it and giving it to people who haven’t.
* We make little effort to assimilate immigrants into our society and instead, encourage them to embrace the culture they fled for the United States.
* We’ve stopped acting as if we have to pay back the money we borrow
* We treat the rule of law as optional, depending on who’s impacted by it.
* We believe our children can grow up in a moral sewer and still turn out to be fine, upstanding citizens regardless.
We’ve become so divided, so antagonistic, so morally separated that for the first time in over a century there are people asking hard questions how much we really have in common with other Americans. If you’re comparing let’s say a conservative from South Carolina to a liberal from California, the honest answer is “not much that matters.” Perhaps not even enough to hold a country together over the long haul if one group or the other ever became politically dominant.

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There’s only one way to change that and it’s to address the real sickness at the heart of American culture. That sickness is our newfound reluctance to address the moral health of our society. Over the long haul, we can’t thrive and we may not even be able to survive as a divided, degenerate society full of people who reward failure, resent success and live for the moment. Morality matters and if we forget that, our nation is doomed to descend into decadence, decay and perhaps one day, even dissolution.

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