Economy Rigging 1

Law March 30, 2012

Filed under: Uncategorized — bashstreetkidjailbreak @ 12:08 am


Law, You and Sovereign – An Explanation

In order to understand who you are as a man or woman in Ireland in 2012 it is important to start at the beginning. Your position on this Earth is defined by Law.
There are basically three classes of law:
The Laws of God: which encompasses the Laws of Nature
The Law of the Land: also referred to as Common Law. (Ireland is a Common Law Jurisdiction)
Private Law: is Man Made law, or Contract Law.
God is accepted as the sovereign of the universe and everything in it including Mankind, God also endowed all mankind with certain inalienable rights, thus making them self determining sovereigns and below God.
Government which is created and instituted by Man derives its power only from the consent of Man to be governed and who is the only source of earthly power and authority. As such, any attempt to enforce any Law or power that has not been conveyed by Man is unjust and not authorised, and any act or deed done is a usurpation of man’s inalienable rights and therefore void.
It follows that Common Law or the Law of the Land is as stated “Common Sense Law” and derives its simple, straightforward and self evident status from the Laws of God. Common Law is the foundational Law of Ireland.
Man made law has all but displaced Common Law in today’s Ireland, this has been a deliberate act perpetrated by the Legal profession in general who would have everyone favour Private Law because of understandable business reasons, this obfuscation of Common Law has been committed by people pursuing their own agenda’s.
Private Law is the Law which becomes binding when people enter into agreements and create rules by which they will be bound. The Irish Constitution is a good example of Private Law, it is in fact covered by Contract Law and is there to protect the Irish People from government and to keep control of government, the language used in the Constitution is very precise in that it states perfectly clearly the powers which have been delegated to government and also that any powers not delegated to government are reserved by the people.
It is important to remember that Ireland is a Sovereign Democratic Republic and as such the People are directly or indirectly sovereign over government and this is very reason why the people have safeguarded and provided the right to abolish or change the government and create a different one if they choose.
Public Statute’s are the rules, procedures and regulations set by the government, they are not laws but rather, simply rules and regulations imposed and enforced by contract agreements. A sovereign man or woman is not a party to these Statutes unless the sovereign volunteers to comply, but once a sovereign decides to comply; the sovereign is compelled to obey the rules and regulations. The ability to choose/decide whether or not a sovereign wishes to comply has been completely removed by government and is never referred to and the simple fact is, accepting a PPS number shortly after birth in Ireland is an implied compliance with Government and Statute Rules & Regulations. Once you have complied, the only way out is to reassert your Sovereign rights.
Statutes and their inherent usurpation of power from the sovereign are so widely accepted by public trustees at all levels of Government that they now act as masters and not servants as is their role.
Civil Law, (part of Private Law) which is practised in Ireland and most of Europe is conceptually, diametrically opposite to Common Law. Under Civil law you are guilty until proven innocent and you have only the rights granted by Government and what is granted can also be taken away. Common Law, on the other hand, holds that you are innocent until proven guilty and you retain all rights not delegated to government.
This is becoming more and more evident in Ireland, were the man is treated as being guilty until proven innocent and if you experience this, it is because of your Legal Status or what the Government perceives to be your Legal Status, if you reassert your sovereign rights and government persists, they are violating your unalienable rights as a Sovereign Citizen.
In times past there was a direct connection between Gods Law and Mans Law, this in fact was the case when the Irish Constitution was written; students of Law were also students of the Bible for example. The eternal truths in the bible provided the sound foundation for mans law but has all but been lost; the Bible is still the best place to learn about laws in general as well as other eternal truths.
In Ireland all sovereign power resides in and derives from the People. We The People are the sovereigns. All the power and authority that government has was granted by the People.
Today’s legislators and in fact Judges pretend to make and implement laws, rules and regulations which we the people have not granted them the authority to do. They continue to do anything they or even a majority of them agree amongst themselves (Vote), they interpret Laws and legislate rules and regulations based on those interpretations of Laws, they render decisions, and enforce rules and regulations which are clearly antithetical to the concepts of the Irish Constitution and they therefore violate their sworn oath to defend and uphold the Constitution.
The Government of Ireland condones and partakes in the repossession of homes and the eviction of people from those homes based on Civil Law, the Constitution states:
Article 40.5
Literal English Translation
“His place of residence is secure for every citizen, and it is not permitted to go into it forcibly except in accordance with law.”
English Text
“The dwelling of every citizen is inviolable and shall not be forcibly entered save in accordance with law.”
The Government of Ireland, the Law Society and the Judiciary know that few if any people will discover this usurpation of power and even fewer will have the perseverance or the financial fortitude to utilise the Courts to expose this usurpation and make the Government both account and rectify this malfunction.
The Government also promotes that Statute passed by the Dail is valid! But it is impossible for the Constitution and a Statute violating it to both be right! One or other must prevail!
If a Statute is violating the Irish Constitution, none are bound to obey it and no Court is bound to enforce it!
In order for Law to be proper it must be just and it must equally protect the rights of all without violating the rights of any. Proper law is based on reasonableness and common sense and it is harmonious with Gods Law.
A simple measure to examine and confirm a proper law is to ask yourself, would I be willing to have this law applied to me, if the answer is no and the law is repugnant to you, if it seems unfair or unjust when applied to you, well then there is probably something wrong with that law.


Anglo Prom Notes 3.1 Billion Bombfire March 28, 2012

Filed under: Uncategorized — bashstreetkidjailbreak @ 6:56 pm

Irish government strategy for dealing with Anglo’s promissory notes – thanatosis « NAMA Wine Lake

What has all of this got to do with our Government? In two weeks time, Ireland is set to pay €3.1bn in cash – and this time, there is no possible way for An Taoiseach to claim that the money is not coming from taxpayers, as he embarrassingly did with Anglo’s bondholders. The cash will be paid by us to Anglo, or IBRC as it is now known. Anglo will then pay it to the Central Bank of Ireland, who will do the electronic equivalent of taking it outside, dousing it in lighter fluid and setting it ablaze. Why? Because on 29th September 2008, the elected parliament of this country gave a guarantee to six Irish financial institutions, and subsequently €30bn in IOUs were given to Anglo and also Irish Nationwide Building Society to make up losses made by those two institutions. Anglo used the IOUs to get money from the Central Bank of Ireland which did the electronic equivalent of starting up the printing press and printing new euros. Not only did we give Anglo these IOUs, but we also gave the Central Bank so-called “letters of comfort” giving a solemn pledge to repay the IOUs. Not only that, last July 2011 when we got the interest rate reduction on the EU portion of our bailout, we gave another commitment – we “solemnly reaffirmed our inflexible determination to honour fully our own individual sovereign signature”. And above we can see the scheduling of the payments with €3.1bn in cash being paid over by this nation each year for the next 12 years and then a further €2.8bn thereafter.

These IOUs comprise nearly half of the €64bn being used to bailout our banks, a bailout that, in total, amounts to 40% of our GDP with the promissory note component alone amounting to 20% of GDP.

By footing the bill for these bailout costs,Irelandis abandoning any notion of safe debt levels and allowing debt to rocket to 120% of GDP. Our debt would have gone from 25% of GDP in 2007 to 80% of GDP anyway to cover borrowing for the deficit, that is, the fact that we collect less in cash than we spend on public services and welfare. And 80% debt is bad enough, but what we have done and what we are doing is piling on more debt so as to bailout the banks. Now AIB, EBS, PTSB and Bank of Ireland still serve this economy, but the €34bn – comprising €4bn of cash and €30bn of promissory notes – that is being shovelled into Anglo/INBS or IBRC, will not serve the economy in any conventional sense.

The ECB is no longer providing Ireland with unprecedented levels of support to our banking system. Yes it is true that a year ago, Irish banks relied on ECB lending on a disproportionately high basis, for example we had €138bn in direct lending to our banks in November 2010 which was reckoned to be one quarter of all ECB lending. But on 25th February, 2012 Irish banks had just €87bn of direct support from the ECB which is just 3% of the €3tn of support overall from the ECB, including over €1tn provided in 3-year lending in December last and in February. With Irish GDP comprising 2% of the EuroZone’s, the level of ECB support is roughly proportional to our economy within the EuroZone and can no longer be considered “unprecedented”.  But what other country inEurope is sticking 20% of its GDP on its national debt to support a completely bust bank?

What the ECB is now concerned about, is the robustness of the IOUs, the promissory notes, and there seems to be a real fear that these notes will be reneged upon, or indeed disowned by a nation that has already shouldered 20% debt to bailout banks, which has consequently maintained the stability of the EuroZone and has seen billions paid back to non-Irish financial institutions which are equally at fault for the crazy lending in the noughties. So the ECB is now sniffing around for Ireland to provide collateral to back up the IOUs.

Against this background, Fine Gael TD Peter Mathews is seemingly villified for tabling a motion which summons the person apparently responsible for leading Ireland’s negotiations with the ECB on the Anglo promissory notes: governor of the Central Bank of Ireland, Professor Patrick Honohan. In the past few days after Wednesday night’s committee drama, Deputy Mathews has been described as “naïve”, “erratic”, “renegade”, “maverick” on a “solo run” who “has opened himself up for a kick in the balls” and there’s an impression that fists are being cupped in anticipation by party colleagues in advance of the next parliamentary party meeting on Tuesday. This is all very amusing because Peter Mathews is one of the most conservative deputies in the 166-member Dail, a man with strong religious beliefs, who treats the business of the Dail with the deepest of respect, and a man who has been absolutely consistent for four years in his warnings about the scale of bank losses. And “naïve” might be a term better applied to those who ignore the colossal damage that the remaining bank bailout cost will do to this society.

Ireland has apparently been trying to reduce the burden of paying the promissory notes since at least last September 2011 – Minister Noonan told an Oireachtas committee on 1st September 2011 “I have not raised the issue [Anglo’s promissory notes] in specific terms with any of the authorities yet but I have raised it in general terms with the troika – pointing out the difficulty of meeting the €3 billion payment every year and what it does to the fiscal figures” Minister Noonan attempted some negotiation with the ECB in mid September 2011 but was apparently rebuked. An Taoiseach keeps saying that it is the Troika’s initiative to progress a deal on the notes but the Troika has been half-hearted in its response. And when asked the status of negotiations, An Taoiseach now says what you might expect an unscrupulous car mechanic to tell a ditzy blonde – “It is a complex and technical issue. There are quite a number of moving parts”

For all intents and purposes, this Government is displaying thanatosis in its supposed attempts to reduce the burden of bailing out two busted banks. On one hand, it is like the rabbit being lamped, accepting without question that the €87bn of “unprecedented” lending to Irish banks will be placed at risk if the promissory notes are not repaid, when the truth is that ECB support to Irish banks is no longer as disproportionate as it was even a few months ago and what other country in Europe would succumb to threats that would see their national debts rocket by 20% of GDP to pay for two bust banks. On the other hand, there is something of the possum in the way arguments about fairness and ethics are suggested, with the hope the ECB will take pity on this nation and forget about the promissory notes. Neither approach has, or will, work. The country needs to adopt the stance of a predator fighting for its very survival and assert its innate sovereignty on Anglo’s promissory notes now.


Irish Promissory Notes

Filed under: Uncategorized — bashstreetkidjailbreak @ 6:36 pm

FT Alphaville » O tempora! O mores! O Irish promissory notes fix

– Olli Rehn, noted scholar of Latin (‘pacts are binding’)

If you’re just tuning into the great Anglo Irish promissory notes dispute between the European Central Bank and the Irish government …

… it might be nearing resolution actually. Whatever happens with it, though, it’s a fascinating development for the entwining of banks, central banks, and sovereigns.

Ireland issued €31bn in ‘promissory notes’ to fund its rescue of Anglo Irish and two other broken banks, avoiding a massive jump in its deficit numbers because of the accounting of the notes (eg. a two-year interest payment holiday was added in 2010). Effectively state guarantees which would give the banks income over time, the notes were pretty bonkers instruments.

Being bonkers, they’ve since been pledged to the Irish central bank as collateral foremergency liquidity assistance. ELA is done at the Irish central bank’s own risk but does need ultimate approval of the ECB’s board, because it’s outside normal collateral rules … and the ELA angle is what makes this messy. Messy, and uncomfortably entwining for the fiscal and monetary authorities.

The immediate dispute was … this:

Technically, Ireland has to hand over €3.06bn in principal repayments on the notes to Anglo Irish (which is now lumped in with the wreckage of Irish Nationwide as the Irish Bank Resolution Corporation — sorry if this is getting absurdly byzantine) by March 31.

That has an air of general nuttiness because the payment is effectively to itself, and because €3.06bn is about three times the size of Ireland’s austerity measures this year. Nutty, but paying off the promissory notes means a reduction of ELA. Irish bank ELA has continued way beyond the usual lifespan of central bank emergency liquidity ops. Hence a campaign to restructure or reschedule the promissory notes, met by pushback from some in the ECB over monetary propriety.

European economic commissioner Olli Rehn insisted last week that the payment is made, barging in on months of negotiations between Ireland and the ECB (which as policeman for ELA is the agency that matters most here).

In fact, according to Bloomberg and the Irish press, Ireland’s central bank governor will talk to colleagues at the ECB about a deal to avoid simply paying off €3.06bn to the shell of a dead bank. Ireland’s finance minister said on Wednesday that the payment ‘could be settled by the delivery of a long term Irish Government Bond’. In other words — IBRC could immediately reinvest the €3.06bn cash in this bond, with Ireland avoiding paying it off until the bond matures.

What is interesting, we think, is where the bond could be pledged as collateral. Maybe not ELA but at the ECB’s normal liquidity ops, allowing a small reduction to ELA? (but shifting IBRC funding to the ECB.) We’re not sure. It does look like a better collateral asset than a funky promissory note.

But what happens to the rest of the promissory notes? Ireland faces the same €3.06bn payment every year, for a long time, unless there’s a deal on the rest.

So it still depends what a broader restructuring of the notes might look like, maybe through extending their principal repayment further out into the future, or lowering interest payments. As the FT reports, there might also be a move to replace the notes with bonds issued by the EFSF (which would suggest ECB eligibility, right?). There’s a great paper from Karl Whelan on how this could be done and why it matters for Irish fiscal costs, and which also breaks down the whole promissory notes and ELA connection very well indeed.

JPMorgan’s Flows & Liquidity analysts also made some interesting points on a restructuring in a note last week:

The main benefits for Ireland in extending the duration/lowering the coupon of promissory notes are a reduced near-term government borrowing requirement, which at the margin makes it easier to return to public debt markets, and lower interest payments. But the former (extending duration) rather than the latter (lowering the coupon) matters far more. This is because interest flows from the Central Government to IBRC (at 7%-8% via existing promissory coupons) to the Central Bank of Ireland (CBI at ~3% via ELA) to the Eurosystem (at 1% via Target2). So the net cost to Ireland as a whole of funding promissory note payments is around 3.7% (the cost of government borrowing from EU/IMF) less 1% (what Target2 charges the Central Bank) i.e. around €84m per annum to fund €3.1bn.

The split between interest and principal payments does makes a difference in the short term from an accounting point of view: promissory note payments classified as interest, rather than principal repayment, increase the Eurostat measure of the government deficit. So classifying a larger proportion of the payment as principal would reduce the deficit from 2013 onwards (when interest payments start, amounting initially to around 1% of GDP).

The main sticking point is that extending the promissory notes means that it will take longer to pay off ELA. That requires the ECB’s consent. The ECB Governing Council can block ELA by a 2/3rds majority. In addition, the longer the maturity of the lending, the more it becomes akin to a fiscal rather than a monetary policy operation.

You could say that the promissory notes have long since fudged the fiscal and the monetary (including, maybe, this possible interim solution of substituting a special government bond for a cash payment on the notes).

You could also say, Irish ELA no longer sticks out like a sore thumb given the trend of eurozone monetary policy since the middle of 2011. The relaxation of ECB collateral rules around the LTROs wasn’t ELA, but this did involve national central banks taking on risks that the ECB itself will not bear, in return for avoiding a credit crunch.

Final words here go to Karl Whelan in a recent blogpost:

…the reality is that the promissory note/ELA deal involving IBRC is an exceptional one and one that the ECB Governing Council has agreed to. The ECB has taken a number of bold steps in recent months including radical changes to its collateral framework. Against this background, it should not be considered unimaginable that the collateral for IBRC’s ELA could have its payment structured altered.



Econ Fraudulent Amok March 20, 2012

Filed under: Uncategorized — bashstreetkidjailbreak @ 6:14 pm

PressTV – ‘Fraudulent US system totally out of control’

“This Time It’s Different?” – David Rosenberg Explains The Melt Up And The Latent Risks | ZeroHedge

Guest Post: Money from Nothing – A Primer On Fake Wealth Creation And Its Implications (Part 1) | ZeroHedge

The Commentator – The EU is an economic train crash we’re watching in slow motion

Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped » Counterpunch: Tells the Facts, Names the Names

Without growth, all euro zone fixes will fail – The Globe and Mail


Fiscal Compact March 17, 2012

Filed under: Uncategorized — bashstreetkidjailbreak @ 1:40 pm

Wills Comments:

Reality is surely is that the *crisis* is in fact, in mathematical fact a credit event across boundaries more than anything else.

So the *crisis* is NOT an out of control phenomena. It is a consequence of intelligent design and this is another fact.

So the ECB printing shed loads of euro is NOT an accident.

The debts rung up by the criminal banking system is NOT an accident.

The money laundering of toxic assets is NOT an accident.

The creaming and milking of austerity on the backs of the weak, vulnerable and powerless is NOT an accident.

The media continue to deliver the junkified news as if this *crisis* is all an Accident.

We are living in a time when bullshit is sold as truth and truth is stashed away and thieved, pillaged and plundered into oblivion.

Paper Against the Fiscal Compact

The Association for critical social research was established in Germany in 2004. 120 members from social sciences put their brains together and created this paper to make a clear statement against the fiscal compact:

Democracy instead of the Fiscal Treaty! We need a different approach to tackle the crisis, and a different Europe

Spring 2012. Merkel and Sarkozy rush from summit meeting to summit meeting, in order to save the euro. The yellow press smears the people of Greece. The struggle over a solution to the crisis is intensifying dramatically: by early 2013, an authoritarian-neoliberal alliance of business lobby groups, the financial industry, the EU Commission, the German government, and other exporting countries, hopes to rush the ‛Fiscal Treaty that has just been concluded in Brussels through the national parliaments. The Fiscal Treaty prescribes an antisocial policy of cuts, and includes penalties for countries that oppose this policy. Thus the Fiscal Treaty restricts democratic self-determination even further. It is the momentary climax of an authoritarian trend in Europe.
We are fed up with these unsocial and antidemocratic policies, and with the racist slander campaign against the people of Greece. Instead, we should talk about the inhuman consequences of these policies. We should talk about Europe’s authoritarian turn, and low German wages as a cause of the crisis. We should talk about the untouched fortunes of the few, and the sufferings of the many. We should talk about our admiration for the resistance and solidarity among the Greek people. Let us demand what should go without saying: real democracy and a good life in dignity for everybody – in Europe and elsewhere.
The crisis in Europe is only the tip of an iceberg. Underneath it lies a deep structural crisis of capitalism. Too much capital is chasing profits. But the returns on investment are low: there is too much competition, and wages are too low. Debt- financed growth and speculative bubbles have only delayed the outbreak of the major crisis. Now the authoritarian-neoliberal alliance is advocating a radicalized more-of-the-same: socialize losses from speculation – through permanent debt- servicing by the wage earners. They want to increase returns on investment – by means of precarious employment, cuts in wages and pensions, cutbacks of the welfare state, and privatization. The consequences are drastic, and what is happening in Greece is looming in the rest of Europe: mass unemployment, impoverishment of broad swathes of the population, collapsing health systems, increases in mental illness, and a declining life expectancy.
Measures such as this can only be implemented by authoritarian means. Pinochet’s putsch in Chile in 1973, the IMF’ programmes in African states in the Eighties, and the transformation in eastern Europe in the early Nineties are historical forerunners of the Fiscal Treaty & Co.: “shock therapies”. Social and democratic principles that were won by struggles with many victims will be eliminated at breathless speed by the Fiscal Treaty, in order to ensure that debts are serviced and rates of profit increase. In Italy and Greece, unelected governments of technocrats are using
truncheons, tear-gas, and water cannons to impose the cuts dictated by male- dominated groups of “experts” in Brussels, Frankfurt, and Berlin. The Fiscal Treaty and the set of edicts on “economic governance” give more and more power to bodies such as the EU Commission, the European Court of Justice, and the European Central Bank, which act beyond democratic controls. To prevent democratic decision- making contrary to neoliberal orthodoxy, the Fiscal Treaty perfidiously strengthens the dictatorship of the financial markets by fines to be paid to the EU.
As in the Great Depression of the 1930s, chauvinist and fascist forces are gaining influence, in Hungary, Austria, Finland, and elsewhere. Blind to the lessons of history, the German government, with its uncompromising austerity policy, is making reactionary solutions to the crisis more and more likely.
Throughout the world, people are fighting back against these policies, from the Syntagma Square in Athens, via the Tahrir Square in Cairo and the Puerta del Sol in Madrid, to Zucotti Park in New York. The movements of refugees and migrant workers across Europe’s outer frontiers are part of these struggles for a good life. These struggles must be carried out across borders and in the centres of the authoritarian-neoliberal alliance, in Paris, Brussels, Frankfurt, and Berlin. Therefore, we call on people to join in the coming protests, including the European Day of Action on March 31st, the Global Day of Action on May 12th, and the international mobilization to Frankfurt am Main on May 17th to 19th. We are relying on an alternative solution to the crisis:
• no ratification of the Fiscal Treaty, and dropping the set of EU laws on “Economic Governance”;
• cancelling public debts, introducing controls on capital flows, and converting banks into public service providers;
• redistributing social wealth from the top downwards by a new tax system; • expanding the social infrastructure and starting to transform the economy with
a programme of social and environmental investment;
• shortening working hours;
• democratizing politics and the economy radically at all levels;
• ending the racist policy of Fortress Europe – residence permits and legal status for all.
To the authoritarian-neoliberal EU of the few, we oppose a democratic, social and ecological EU of the many!
Assoziation für kritische Gesellschaftsforschung (AkG), March 2012 /


Comments on CB Debt Money March 16, 2012

Filed under: Uncategorized — bashstreetkidjailbreak @ 8:12 pm


‘My message goes beyond buy gold.

I am an individual who is not a trained economist. for decades I could not follow the reasoning of the main stream press commentaries and the analyses of the economists
About nine of 10 years ago a man walked into my office late at night, abot 10.30 pm where I was doing some planning for the next day. he stayed 3 hours and at last I had a glimmer. He explained what he was doing and why and it resulted in my reading various web sites 30 hours a week. Bit by bit it seaped in and piece by piece the gaps filled and I began to understand.

The credit cycle of boom and bust is the direct result of the fractional reserve banking system. a deposit is made to a bank and the bank firstly lends out what is not his but also lends out 5, 10, 20 50 times the amount of the deposit. This of course rapidly expands the “money supply” (currency) which devalues the buying power of the currency in existance and so is the causer of inflation. There would be no inflation and no boom and bust without this.
The practice in any other area would be criminal fraud and here it is legal fraud because fraud it is that has been legislatated to be legal. babkers can play this like a fish on a line, easing credit and then tightening it, boom and bust.

Fractional banking must be banned. fraud is not allowed by society why here?

An economy does not need an expanding money supply to have a vibrant expanding economy and one which by its nature is mildly deflationary as goods and services become cheaper through efficiencies.

Money is essentially a commodity. Unlike fiat paper money which is not. Originally commodities were traded back and forth in a system of bartering that seems to be neolithic in origins. One or two commodities exhibited characteristics the others did not possess. Some had atributes the others did not have but some had the following that made them useful as a store of wealth, and a means of exchange.

Portability for high value in small amounts, readily exactly divisible, Readily recognisible, Consistant in quality, durable, and indistructable. Gold and silver have intrinsic value as they have to be worked for to be produced out of the ground.

Gold was the natural choice in the majority of places with silver for day to day transactions and copper for spare change.

As gold is money let us consider a fixed supply in an economy. As the demand for money increases it goes out of circulation and is saved. As busines continues the rest of the gold left in circulation must do the job as a means od exchange and so less money is allocated against the goos and services and so less gold is need to obtain them. In other word the same amout buys more goods. or the value of the money increrases. this causes some of the savers to look at the opportunity cost of holding the gold and thet decide to purchase.
This puts money back into circulation and raised the price of the goods. So the value of money drops. With unlimited numbers of people making these decisions there is always just enough money in circulation. with inovations in production goods get cheaper over time and so their are more goods and services in the economy and everyone is better off.
any addition to the money supply induced in to the economy addsa distortion that has an unexpected result. Thus the addition of new money disrupts the economy and benefits only the holder and owner of the new money to every one else’s expence.

people buy gold because they do not trust the fiat paper money to hold its value. They are correct.
I do not see it as a thumb in the dyke but as a wall being built around your wealth and assets to protect you from the ravages of inflation

Every ounce bought is a brick torn out of the castle wall of the bankers castle of oppression.

Bankers hate gold because it is universal money. goods and services can be bought using gold anywhere in the world. It is money everywhere and anywhere.A canadian Maple leaf .999 pure will sell for goods anywhere in the world. Not so canadian fiat currency

Bankers HATE gold as it rings the death knell on their ponzi scheme.’


‘As far I know when you introduce a good currency a bad currency like the euro will drive the good currency out of circulation because the citzens will hoard the silver coins. I agree with gold but their is manupilation for political purposses of gold so you would need to be very careful.’


You are absolutely correct.

The idea is to have the silver coin issued along side the fiat currency. This does not disrupt the current system.
Issue the silver coins and yes they will be saved. The people are desperate to have a method of saving not subject to inflation. The demand for the coins will be huge. In North America the minting of Silver Maple Leafs and Silver Eagles out paces the new mined supply of silver annually. Think of that. North America already has a silver current account deficit.And these coins are not monetized. The silver Maple Leaf hs $5 stamped on it when it is worth 35 on the market.
The production of a Euro or Irish silver one ounce coin will be devoured in a similar fashion.
not until savings needs are satisfied will the coins begin to circulate.

The silver coins will circulate because the mandated monetary value of the coin is guaranteed to always be 20% higher than the spot world price for silver.
The monetary value of the coin will only rise with inflation and can never fall. It must be issued with those guarantees. Because of this it will only be spent in the local monetary system but unlike bank notes will have an intrinsic value which will be recognised around the world. The coin can not be devalued, ( a bank note’s intrinsic value is zero), below its intrinsic value which is the world price for silver. It’s melt value.
Only if the coin has a fixed monetary value stamped upon it will it go out of circulation as the value of the silver in the coin exceeds the monetary value.

There will be no stamped value on the coin, just the weight and purity of the silver. Once the savings are saturated and the coin moves in to circulation will people start pricing goods by how many ounces of silver. Like, How many ounces did you spend to buy the car.
At some point when the premiums are eliminated in the open market, for these coins, the coin will circulate.

Savings in an economy are the bedrock of prosperity. Savings mean people do not spend. The part of the economy producing the consumables will slow and release the resouces that are chanelled in to research and development. Research and development is funded by savings. The research and development create new products and efficiencies that tempt people to spend and the savings thus are moved back into circulation and the improved economy benefits all.

Our current debt based economy creates distortions that send false messages to the buyers and sellers and so we have goods produced that there is not a real demand for. People spend as they are deluded by the lower interest rates into thinking the economy is better than it is. The induced inflation causes people to further indebt themselves to buy today what they should not buy until tomorrow if at all.

You are correct about the gold manipulation but is is a suppression of the gold price to discredit it as an asset and money. Gold is the Achilles heal of the bankers. All smart money is accumulating gold including the the money powers behind the banks. Only western countries have rid themselves of the gold. More countries are accumulating than not. The quoted price mechanism is on the paper market. there is only onr ounce of physical gold available for every 50-100 ounces sold. It is a fractional reserve system. Every physical ounce bought and held in hand puts the squeeze on the system. There is a shortage of physical gold and the rest is another paper ponzi scheme which at some point will collapse.TThen the price of bullion will soar. Middle east counties are buying bullion, russia, china, Vietnam, India, Iran , Turkey etc are all accunulating.

Gold is for the long haul, and you should buy on the dips or ust as you can afford to.buying a little now and then will provide and average buying price that will level out. I have not worried about that. I bought when I could and paid the premiums. My last was before christmas. The latest downdraft is still above that but I have not yet covered all the premiums paid. It is the best performing asset of the last 40 years so where is the risk. Be not afraid of gold and silver as they will protect your old age.’


I find it difficult not to be sidetracked. So I will stick to my subject.
Honest money and silver.
The transfer to the Fereral Reserve of all the monetary policy of the US was the beginning of the modern era of central banking.
The biggest lie is the “We are here to help” suggesting that their mandate is to control inflation.
The central banks with the connivance of the parliamentarians, create inflation. It is said the inflation is purely a monetary event. Any addition to the money supply adds to the inflation.
All inflation creates distortions in the economy of unknown effect until after the event.
Inflation must be eliminated. That means the money supply must be frozen. That means no more deficit budgets. That means the people must save and be encouraged to do so.

Hence my proposal to monetize the silver one ounce coin of guaranteed weight and purity.
One of the functions of government is to maintain standards. 
The corruption of the money and its issuance leasd to all else. Fiat money schemes have a life expectancy of about 40 years. We are about there for the US. All currencies are today fiat so all currencies are going down. TPTB will try to restor order with a world paper fiat currency and thereby totallt remove soereignty and usher in the universal debt slave model over the whole world.

Silver money is freedom . Embrace it and live free.’



Filed under: Uncategorized — bashstreetkidjailbreak @ 1:26 am

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