Focus on the Past - "It's deja vu all over again!"

Don't Vote Stupid! - Vote Smart!

Learn What & Why - The Obama Agenda

A Short History Lesson by FDR

President Franklin D. Roosevelt - (1933-45), pushed his major legislation package and issued a proliferation of executive orders that instituted the New Deal with a variety of programs designed to produce relief (government jobs for the unemployed), recovery (economic growth), and reform (through regulation of Wall Street, banks and transportation). Unemployment fell dramatically in his first term, from 25% when he took office to 14.3% in 1937. However, it increased to 19.0% in 1938. So, the economy improved rapidly from 1933 to 1937, but then relapsed into a deep recession.  Why?

A Shorter History Lesson by Obama

Hate to say it, but if you don't look into the past, history has a strange way of repeating itself! Or as the NY Yankee's catcher, Yogi Berra, said, "It's deja vu all over again!" ...Hello Obama, you are not doing it?  The sad truth is that these lessons learned are useful.  In the case of this President of the United States, the people will suffer under his lesson lapse. Why?

 "Running by the Seat of your Pants" by FDR

These actual events and facts drawn from "Lords of Finance" (see our Rovalocity web site library) on pages 471-475 show a lesson learned, but not remembered or revisited today by the current Obama administration. This monetary manipulation is going on today BIG TIME as you read this history.

"By October 1933, though the dollar had fallen by more than 30 percent, commodity prices began to sink again and the economy started to stall once more.  Roosevelt decided that it was time for a new initiative. Roosevelt's former Harvard professor, George Warren, recommended that the government give the dollar another nudge downward by itself buying gold in the open market."

First FDR Fireside Chat - March 23, 1933"On October 22, in a Fireside Chat, FDR expressed that the U.S. dollar was too greatly influenced by internal policies of other nations and by political disturbances.  Therefore, the U.S. must take control in its own hands the gold value of the dollar.  This was a masterpiece of obfuscation."  FDR was intentionally clouding facts to hide the issues because this was not the real case due to the FDR Administration's own policy failures. "So, the following day the U.S. began to buy gold."  It was massive manipulation of the world gold prices to stimulate the U.S. economy with cheaper goods to sell to the world markets. Instead, it portended even further erosion of public confidence in the global financial markets.  It was a formula made up for disaster. 

Keynesian Economics

"Maynard Keynes was among few economists to applaud Roosevelt's decision to devalue the dollar.  In an article in the Daily Mail headlined "President Roosevelt is Magnificently Right," he hailed the message as an invitation to "explore new paths" and "to achieve something better than the miserable confusion and unutterable waste of opportunity in which an obstinate adherence to ancient rules of thumb has engulfed us." This was saying to throw the gold market prices to the wind to create arbitrarly set priceJohn Maynard Keyes - 62 (1883-1946). He and Obama would no doubt like each other. standards by the Federal Government, which benefits more spending programs.

Keynes is the economist that Liberals love and Conservatives hate. Keynes best known for his proposal that when national economies suffer a downturn, governments should borrow and spend money to boost economic activity. Part of the proceeds of the resulting economic growth should then be used to repay the debt. Obama loves "Keynesian Monetary Policies" as it demands more "Stimulus Spending" to expand by printing more money leading to theoretically paying for more government goods and services.  Just one problem, "Inflation", too much money supply around, devalues buying power and the ability to pay back debt and creates even more "National Debt" on the books ...Big Oops!

"The Gold fix is in" - "The Yolks on Us!"

In the following weeks, "every morning at nine o'clock, Henry Morgenthau, Secretary of Treasury, Jesse Jones, head of the Reconstruction Finance Corp, and George Warren, a Cornell economic advisor, would meet witGold Barsh FDR over his breakfast of soft-boiled eggs, to determine the price of gold for that day.  They began at $31.65 an ounce.  The next morning this increased to $31.54, then $31.76 and $31.82."

"No one had a clue how they went about setting the price, although everyone presumed that some subtle analysis of the world bullion and foreign exchange markets went into their calculations.  In fact, the choice of price was completely random.  All they were trying to do was push the price a  little higher than the day before.  The exercise brought out the juvenile in Roosevelt.  One day he picked an increase of 21 cents, and when asked why, replied that it was a lucky number, three times seven." And, this is who Obama says he wants to emulate?  I can definitely see why!

Ten More Years to Get Ahead - 1935 to 1945

"Again, many of Roosevelt's measures to boost prices or wages by government fiat raised the cost of hiring workers and hampered recovery.  Because the contraction had gone so deep, it still took ten years for the economy to regain its old trend."  It appears that it finally took a WW2 economy, not FDR's policies, to kick-start jobs and the manufacturing sector creating economic growth.  FDR, very sickly, died finally in 1945. FDR was three terms too long.  Obama is already one term too long.

"While the rebound was powered by an abundance of money at low interest rates, the Fed found itself ejected from the driver's seat.  Having made such a mess during the collapse, it had lost whatever prestige it once possessed."  That sure sounds like what has happened today ...It's deja vu all over again!

Are we doomed to repeat this sad History all over again under Obama?

 ~ VOTE Change in 2012! ~

The Next Round of EU Funding - A New Place?

Let me raise up a word about our own finances and don't let your eyes glaze over until the end. No doubt, you have heard about the imminent global banking collapse?  Well, here is the rest of the story as it appears to me, an American bystander. 

The European Union is imploding with no way to look for help including to Germany where seventy percent of the German electorate is against bailouts. It’s not like the United States where there’s a commonality of purpose and a vision of national unity.  It's the same feeling for the United European Union BannerKingdom. The IMF, International Monetary Fund, even the United States which is a huge IMF contributor is tapped out. China is standing on the sidelines. So where can the EU turn to that hasn't been that involved in this European debacle yet? It lies in Sharia Law!

After nearly three decades, as of this November 2011, a group of sixteen Islamic Could an Abacus have helped? banks finally resolved a stalemate in the $1 Trillion Islamic interbank financing market on their terms. Under Sharia Law earnings are lawful, interest from earnings are unlawful.  Operating since 1986 under the London interbank offered rate, LIBOR, used an interest rate which was considered socially unethical under Sharia.  Now, a new benchmark rate class, the Islamic Interbank Benchmark Rate, IIBR, will open the Islamic bankers to outside world investment markets by providing an international reference rate showing what the financing process is and how it is setting the rates ...real transparency to investors outside the Islamic financial world.

The development of a Shariah-compliant benchmark rate comes amid regulatory investigations into investment banks and rate-setting practices.  Why is a probe about these "regulatory investigations" Quran Holy Bookinto investment banks and Shariah-compliant rate settings happening now?  What financial motivation currently is driving the world banking community to seek a universally accepted Sharia benchmark rate for Islamic banks?  Who will benefit mostly by these substantiated rate calculations?    

The academic answers are the lower IIBR rates will encourage corporate borrowers to use Islamic banks over LIBOR rates, it increases bank liquidity with deposits, and it encourages investors to seek diversified portfolios with a wide range of various infrastructure projects in the Islamic world.

The instinctive answers are more telling since they beg the question about the timing of the rate probes since the world financial markets could use a new capital source to tap and borrow needed funds. Then, regulatory pressures were exercised to force the Islamic banks to comply to lending practices that facilitated universal rates for interbank lending.

What's happening in the European banking sector right now is banks are increasingly unwilling to lend to each other for any period longer than overnight. So, these newly available funds on deposits can be diverted by the Islamic bank to a wide range of various infrastructure projects in the world, i.e., EU countries. Here is the best part for last.  Who backs these EU countries up to prop up their loans?  It's us, the United States of America.  I think we U.S. taxpayers are going to be left "holding the bag" ...again!

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FYI: (If you really want to know -The "Nuts and Bolts") By introducing an indigenous Islamic benchmark with a reference rate called the Islamic Interbank Benchmark Rate, IIBR, everything from over-night to one-year funding will be determined from rate member banks contribute each day. The data will go through an "ethical" cleaning called "fixing".  It is where the top and bottom rates are removed and an average of the middle eight contributions is taken. The results are authorized by a panel of Islamic Banks and approved by a committee of Shariah scholars. This liquidity has attracted outside investors interested in diversification and will increase funding flows to finance infrastructure projects in the Islamic world.

Seventy percent of the German electorate is against bailouts. It’s not like the United States where there’s a commonality of purpose and a vision of national unity.

“Lyin’ Ass Bitch” Michele Bachmann

The "Late Night” Show host Jimmy Fallon invited Senator Bachmann onto his show during the intro song his show’s house band, The Roots, played for Michele Bachmann‘s appearance on Monday, November 21. The band played a song titled “Lyin’ Ass Bitch” when Bachmann came onto the stage.  Do you think Jimmy could play the same tune for "Michelle" Obama?

The truth here is that this type of left-wing buffoonery has never stopped since Michele Bachmann began running for public office as a Conservative Republican Senator either. Except for Governor Palin being called a "Cunt" on national TV by comedian Bill Maher, I have never heard of any other woman politician being disrespected with such audacious, callous disregard and insolence as Fallon takes his own self-appointed liberty to castigate and embarass her.  I guess this situation begs the crude question, "Who in the Fuck does Jimmy Fallon think he is?" 

I believe if I can ask a question, then I should be able to answer it too.  Simply put, Jimmie Fallon is only a modest success in the entertainment world; a short-lived exposure to date and struggling hard to get his Nielson ratings up just like Arsenio Hall, Joey Bishop, Joe Pine, Alan Thicke, Joan Rivers, Pat Sajak, Chevy Chase, Magic Johnson and Joy Behar. Ooops, aren't any of those hosts on the Late Night Show circuit any more?  (To be fair, some are dead, but they none the less were not successful) To paraphrase Senator Lloyd Benson from the Vice Presidential debates with Senator Dan Quayle, "You're no Jack Kennedy!"  I can then say to Fallon, "You're no Johnny Carson." Also, you have none of the "Class" Johnny had either!

Although Jimmy Fallon did apologize to Bachmann on Twitter later the following Tuesday night, it sure is a shame that you can't make a second first impression.  As anyone should know who is in "the biz",  we are all on stage,  really only have one shot and real life is not a dress rehearsal.  "Soory Jimmie", your little "Tweet" doesn't mean "Twat"! You are a capital "L", Loser!  Better ask for stimulus dollars to keep financing your show, it looks like just another "shovel ready project" about to go under!

Federal Debit Currency Cards

Currency has always been a prime target for counterfeiting, which the US Secret Service calls one of the Are Currency Cards next step?oldest crimes in history. Just as government printing techniques have changed to make official currency harder to duplicate, counterfeiters are ever employing the latest technology.  Many in the Federal Government vigorously support "Federal Debit Currency Cards" to cut printing and coinage costs while minimizing the counterfeiting; but. there are huge costly drawbacks and other ulterior motives too.

• Since everyone will not be using any old fashion bills and coins anyway, the newly issued "Federal Debit Currency Cards" by the Federal Government will know exactly what you are paid and what you spend your money on and where - sounds like some of the "Loyalty Cards" being employed now like the grocery stores, COSTCO, etc. It will revolutionize Income Tax reporting, not necessarily the cumbersome regulations unless reform is a part of the package.
  

• If they pass a national sales tax, one that taxes you accordingly for what you consume. It's a quick, easy path to everyone paying a fair flat tax at every level. Many politicians are pushing this new "Revenue" (code for taxes) as a less painful tax, somewhat regressive but a quick tax fix for big spending politicians.  Will it be coupled with a lower income tax rate for earners since everyone will be in the bigger tax pool?
  

• Could facilitate almost effortlessly the VAT taxes (value-added-taxes), a harder tax sell these days just like the carbon tax and trade bill.  Both support new unlimited tax revenues for more free-spending big government programs.

• It's a way to expand and contract the entire US economy instantaneously by blocking anyone's access to their own money electronically. (maybe control the World economy too, comrades)

There are, however, many inherent existing problems already looming before such an impossible undertaking could start.

• Some people would continue and trade through barter to sells goods and services alongside the Federal Currency Exchanges.  This has and will always be in American commerce.  Further regulations would force some to go underground thereby creating an impossible and difficult to track commerce, a black marketplace. 
  

• Many experts, for instance, recommend consumers never use (or even carry) debit cards (also known as check cards) because of their risks and their limited consumer protections. A lost, stolen, or otherwise compromised debit card can result in your bank account being wiped out by a thief, without using your PIN number. 
  

• Even if you promptly report the loss to your bank, under federal law the bank can wait up to two weeks (or longer in certain cases) to restore the funds to your account.  That could make you unable to pay your bills or withdraw cash at an ATM.  And if you wait too long to report the loss, you may not be able to recover the stolen funds. These laws would have to be amended in regard to "Federal Debit Currency Cards" with new advanced protections in card media and software.
  

So, "Federal Debit Currency Cards" seem like a very acceptable substitute for greenbacks is like a similar debacle to replace dollar coins.  The U.S. Mint pushed and failed to sell the Susan B. Anthony dollar and Susan B. Anthonythen replacing it with another coin, the Sacagawea dollar, which did not prove popular with the public either.  The mintage dropped sharply in the second year of production and Shoshone Sacagaweais not now widely circulated.

The public is finicky about its coin of the realm. You can't eat or drink it, but its got intrinsic monetary value and that's what makes everybody's world go around.   Only time and technology will tell us what happens next, just hope "Big Brother" is not looking over peoples' shoulders with each transaction.  The perceived value could drop like a rock and cold metal, shiny coins and plastic cards will mean nothing.  Where's the Gold?

"Occupy Wall Street protesters were injured!"

"Occupy Wall Street" protesters crapping on the U.S. Flag!Recently, on a Friday night newscast, I tuned in to see the "Occupy Wall Street" protesters burning and damaging private and municipal properties while conducting their organized mayhem.  Tragically there were three people killed in three different cities separated by many miles between them, but still were connected by the chaos planned and instigated by their handlers to evoke televised events across the nation.

I sat and listened as reporters were hammering away at the conservative pundits.  After all, the Tea Party movement was evoked as the start of the citizenry rising up in protest during the last election cycle causing untold lasting fissures in our society's homogeneous fabric.  The damage has been proven by the lopsided majority of Republicans voted into office and radical calls for government spending to stop and taxation to be reset to acceptable levels.  This horrible tide of conservative values must be countered. but how?

The Liberal Progressives answer by pointing their fingers at the "Occupy Wall StreetTea Party Movement Meeting - D.C. Washington Mall protesters.  They embody the same spirit as the Tea Party movement; after all, aren't they protesters too?

What I find as absolutely maddening is NO ONE says who these "Occupy Wall Street" protesters really are here.  The are a front group for the Obama Presidential Campaign,  the Democratic National Committee, the SEIU Union movement, U.S. Communist Party along with other Liberal Progress Organizations.  Where is Peter Soros and MoveOn.org too?

The Liberal apologists spew out total nonsense, even in the face of the absolute failure of the "Occupy Wall Street" protesters, i.e., the three deaths.  Ms. Tara Dardell, a Democratic Strategist, whole heartedly defended them and minimized that violence by summarily dismissing those deaths by saying a very stupid statement at the end of her diatribe. 

Ms. Dardell said, "Our hearts go out to those people who were injuried!" ...SAY WHAAT??  ...Were injured?  I'd say killed is dead, not injured wouldn't you?  LOL!