know how Fannie/Freddie Mac were run?
MICHELL
“When Richard Nixon destroyed the Bretton Woods International Monetary System in 1971 by closing the “gold window” at the Treasury, he severed the last link between dollars and gold. What followed was a spiralling proliferation of increasingly spurious credit instruments denominated in a debased currency. The most glaring and lethal example of this madness has been the growth of the unregulated derivatives market, which has ballooned in size to $600,000bn, the equivalent of almost $100,000 per person on Earth.”
Seems to me I heard something about this recently from Ron Paul and Austrian School economists who predicted the financial crises, to begin with. So why are Bush and Obama both following the counseling of Keynsian economists who want infinite ability to inflate our currency and devalue the dollar?
http://us.ft.com/ftgateway/superpage.ft?news_id=fto112320081417313812&referrer_id=yahoofinance
Do you think we should go back to at least a link between the dollar and the price of gold, and allow domestic use of competing currencies with intrinsic value such as gold and silver?
mommanuk…. It could be pegged to the CURRENT gold price.
Greg, I disagree. The Federal Reserve had started its easy credit in the 20s, creating the ‘boom’ bubbles that bust in the 30s.
We went off the classic gold standard in 1914, after the Fed was created in 1913. Our dollar is now worth 4 cents next to the dollar the Fed took charge of.
Robinson Cruz, so elderly who have prudently saved all their lives for retirement and are at the end of their working lives shouldn’t be allowed to keep their money? It should be devalued to nothing when they are too old to make more?
EMILIO
I found that FT only offers student package for the US area. The price for canadian subscription is 4 times that of an American Student. So How do I do to reduce my cost?
JEROMY
Have you seen the story in the Financial Times that the carbon offset program is nothing but a fraud? Companies and individuals rushing to go green have been spending millions on ‘carbon credit’ projects that yield few if any environmental benefits. A Financial Times investigation has uncovered widespread failings in the new markets for greenhouse gases, suggesting some organizations are paying for emissions reductions that do not take place. It’s sort of like they’re out there collecting money for a new church that’s never going to get built, because global warming is a religion. I called yesterday for the separation of earth and state, and we need to have it. (interruption) Well, we did. It is a religion.
Now, I was thinking, what is something comparable to this? You’ve got all these true believers — and they’re doing it because, like everybody in every other religion, they’re looking for immortality. They’re looking for long life, and, of course, in the global warming religion, it is the Earth that provides that and of course if we’re destroying the Earth, then we’re all going to die. (Crying.) So carbon offsets come along, gigantic fraud. I was thinking, in other religions if this kind of fraud took place, A, what would it be, and B, what would people say about it? I remembered something when I lived in Kansas City, and that would have been from 1975 to ‘83. I don’t remember the specific year, but they had a religious TV station there, and it was right after I got cable. Cable was new then. It was exciting. So this had to be after ‘80. I’m channel surfing around, I’m watching all this, and I didn’t have a rooftop antenna, so I didn’t watch things like Channel 50.
There was this guy on there, I don’t remember his name, and he was talking about Revelation and he was going on and on about the Last Days, and he was asking his audience if they had contributed to his program — and he set a globe on fire! This guy got a globe of the Earth and he poured something on it to make it burn. He lit it, and the globe starts burning as he’s reading from relevant passages from Revelations. I can just see seasoned citizens and the elderly watching this and going, Oh, no! and just writing checks so fast, sending it in to this guy so that they would be saved because the End Times were coming. Well, this is exactly what this is. The carbon offsets are nothing more than that kind of trick or fraud to play on the emotions. It’s amazing the story came out. It’s only in the Financial Times. Drudge has it up. It’s linked there. But I don’t know if we’ll see this anywhere in the Drive-By Media. I have my doubts.
JERI
Especially anything that can be frozen for later and still end up edible.
BRENDA
What is the significance when a conservative newspaper endrses a democrat candidate
Financial Times endorses Obama
Buzz Up SSun Oct 26, 8:46 pm ET AFP/File – The Financial Times, the respected business daily, endorsed Barack Obama on Monday to become the next …
Play Video Video: A day in the life of the Obama campaign AP Play Video Video: ‘Economic Justice’ FOX News Play Video Video: A day in the life of the McCain campaign AP LONDON (AFP) – The Financial Times, the respected business daily, endorsed Barack Obama on Monday to become the next US president, even though it prefers the trade policies of his Republican rival John McCain.
The newspaper, which has a daily readership of about 1.3 million worldwide according to its parent company Pearson, said the Democrat’s policies blended the good, not so good and downright bad but he was the right choice.
Just over a week before the November 4 election, Obama has been leading McCain by more than 10 points in some national and state polls.
The FT said the Democrat had run his campaign superbly, a
LOU
left-leaning, pinko commie publications?
AARON
I’ve heard churches somtimes help in people in financial trouble, is it true and if so where can i get info?
JOSEFINA
not looking for handout just stuck right now please send me some referrals
ROBBIE
I know, the question is a bit long… but really I can have a clue what all that means! A lot I guess…
MARA
