The federal government once again has reached the limit of its legal ability to borrow money, meaning it cannot issue new Treasury debt without action by Congress to increase the debt ceiling limit. As of this month, our “official” national debt – which doesn’t include the staggering future payments promised to Social Security and Medicare beneficiaries – stands at $14.2 trillion.
The debt ceiling law, passed in 1917, enables Congress to place a statutory cap on th... (more)
Schiff Report Video Blog May 20th 2011
NIA touts penny stock Mega Precious Metals based solely on its "inferred" 1.2 million ounces of gold. However, NIA knows that "inferred" resources are practically meaningless. More important, they also know that their members, not being sophisticated gold investors, have no clue what "inferred" means and they exploit that i... (more)
I think this is my favorite part from their (non)response.
"There is a reason why NIA's membership base is growing by leaps and bounds and far exceeds this stock broker. NIA's President spends 12 hours per day studying the economy and researching stocks. His number one goal in life is not making money for himself, but is preparing Americans for hyperinflation and helping as many Americans as possible survive and prosper during the currency crisis that is ahead."
"It’s the person who would sell his soul for a nickel, who is loudest in proclaiming his hatred of money–and he has good reason to hate it. The lovers of money are willing to work for it. They know they are able to deserve it.
“Let me give you a tip on a clue to men’s characters: the man who damns money has obtained it dishonorably; the man who respects it has earned it.
“Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter."
Capitol Police recently arrested 89 protesters from the disability rights group ADAPT for occupying the rotunda of the Cannon House Office Building. They were demonstrating against the proposed changes in Medicaid in the recently passed House budget resolution that would reduce the program’s funding and turn it into block grants to the states. “Block grants kill,” read some of the protest signs.
Ma 18, 2011 - Euro Pacific Capital President Peter Schiff explains why U.S. membership to the IMF is wasting billions of taxpayer dollars and compromising our sovereignty.
According to the Tax Foundation, tax freedom day came on April 12th this year. This means that everything the typical American taxpayer earned from January 1 to April 11 went toward meeting his total federal, state, and local tax burden.
Of all the taxes Americans are saddled with, the federal income tax is the most objectionable. Like most, if not all of you, I grudgingly filed my 2010 income tax return before the April 15th deadline last month. And although most... (more)
Volatility is just part of the market, says Euro Pacific Capital President Peter Schiff. While speculation could smooth this out, however, that isn't the case right now. Irresponsibly money printing is damaging the dollar, and as currency is continued to be produced in America and elsewhere, commodity prices have nowhere to go but up. While the World Bank says the glob... (more)
In their new study, “The American Recovery and Reinvestment Act: Public Sector Jobs Saved, Private Sector Jobs Forestalled,” economists Timothy Conley (University of Western Ontario) and Bill Dupor (Ohio State University) present their empirical findings of the economic impact on employment of the 2009 Obama stimulus package of $787 billion, entitled the American Recovery and Reinvestment Act (ARRA). The Act was passed based on ... (more)
Justin Lahart with the Wall Street Journal wrestles with the definition of ‘inflation’ in his article “Using a Dictionary to Define Inflation Can Spell Trouble.” Lahart writes that up until 2003, Webster’s defined inflation as printing money. Since the 2003 edition, Webster’s defines inflation as “a continuing rise in the general price level.”
Mainstream economists say that only those out-of-step define inflation as increased money creation. “They were quite far behind the ... (more)
If you want to know more about the things in this documentary, I would recommend going to the source, Peter Schiff. For whatever reason, they fail to give him any credit. - Chris, InfoLib
Today the U.S. government officially borrowed beyond its $14.29 trillion statutory debt limit. And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling. Republicans are making a great show of acting tough by linking their “yes” votes with promises for future budget cuts (that could even slow the rate of debt increases at... (more)
THE central bank says the country must consider adopting a gold-backed Zimbabwean dollar warning that the US greenback’s days as the world’s reserve currency are numbered.
[...]“There is a need for us to begin thinking seriously and urgently about introducing a Gold-backed Zimbabwe currency which wil
Starcraft II is the game of choice for the Silicon Valley engineers building companies like Facebook, Asana, and Quora.
The game is basically a 21st century version of Chess. Except that instead of starting with your Rooks, Bishops, and... (more)
Parents take heed, if you think your kids are wasting their time playing video games, you're the one who is wasting your time by NOT playing video games! :) - Chris, InfoLib
One of the more interesting recent stories of government absurdity is New York City mayor Michael Bloomberg's decree that starting in 2013, the Nissan NV200 minivan will become the official taxi of the city. Over the next five years, all other models will be phased out.
In addition to illustrating the corrupting effects of political power, the episode underscores the economic problems of government ownership of road... (more)
Los Angeles (May 3, 2011) — As the federal government rapidly approaches the $14.3 trillion debt ceiling, 96 percent of Americans say it is important to reduce the national debt, according to a new Reason Foundation-Rupe poll. Of those surveyed, 69 percent believe reducing the national debt is "very important."
With the debt piling up, it is also clear t... (more)
