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James Corbett responds to Jerry Day’s Federal Reserve challenge. If “End the Fed” is to be anything more than a mantra, then we must have a plan in place for how to actually end the fed and what we do after it’s gone. Find out James’ response in this edition of The Corbett Report.
SHOW NOTES:
Jerry Day’s YouTube channel (minivanjack)
Jerry’s Challenge: After the Fed, What?
Interview 928 – James Corbett Discusses Voluntary Solutions to Ending the Fed
Outrunning Collapse: The alternative currency solution
Complementary Currencies: A Beginner’s Guide
Interview 638 – Paul Glover on How to Create a Community Currency
(Not saying this is the only solution but maybe a good start?)
I think Peter Schiff has talked about ending the capital gains tax on gold (if it appreciates between the time you buy vs sell it). I think that tax goes as high as 28% (though please double-check me on that figure). That alone would make gold a much more realistic “competing currency”.
doublek321,
On your note…
A few weeks back, under CorbettReport’s Recommended Viewing, was a very interesting video entitled The Everything Bubble: Stocks, Real Estate & Bond Implosion – Mike Maloney.
https://www.youtube.com/watch?v=w0Oz2R0u4VM
Actually, there is a tie-in to one of the main speakers at The Red Pill EXPO. https://redpillexpo.org/
I agree. There will NEVER be one monetary system without liabilities.
However, I feel a major keynote is Decentralization, i.e. relations between people should be voluntary exchanges (not enforced, not mandated).
I am so glad that Corbett presented the concept outlined by Paul Grignon. To me, this may be a wonderful way forward.
Regardless, this 5 minute Corbett Report video Economics in One Image summarizes much of the monetary issue for me. https://www.youtube.com/watch?v=_ff0IfLcKkU
And attached to this concept relayed with Economics in One Image, is I, Pencil – https://fee.org/resources/i-pencil-audio-pdf-and-html/
I kid you not…
I, Pencil is extremely enlightening and in a beautiful, aesthetic, high wavelength way.
I recommend listening to the audio in order to capture the beautiful explanation of the miracle of the “invisible hand”.
And in actuality, anyone can issue a voucher or coupon or scrip for his production/services. Within a local interactive community, this action could be extremely viable.
I have always envisioned a voucher for Moonshine Gallons.
https://www.corbettreport.com/interview-1278-james-corbett-on-resistance-without-anger/comment-page-1/#comment-39346
Most every car on the road today can easily run on alcohol. Why buy gasoline when a person could use their voucher to get alcohol?
There is an entire “little community” which can be built around homemade alcohol production with many interchangeable products and/or co-op.
~ The farming of crops for the alcohol production, or the collecting of garbage for the alcohol production.
~ The growing of organic plants from alcohol production.
~ The raising of fish or crawdads from alcohol production.
~ Fertilizer from alcohol production.
~ Pest control from alcohol production.
~ Livestock feed from alcohol production.
~ Etc.
The interchanges within the community could go on and on, with people utilizing a unit of value scrip (gallon of alcohol) to pay for the home repairs or to pay for car maintenance or get a haircut. People easily have a reference point of value by seeing the price of gasoline at the local gas station.
I wouldn’t put diamonds in the same league with precious metals. Their “value” isn’t very stable, it’s spiked with artificial scarcity and earth will probably never run out of diamonds, it’s just carbon and loads and loads of pressure.
Lately, I have been thinking about this more and more. Producing alcohol based fuels could be lucrative AND the right thing to do. However, in this failed stat of mine we have some incredibly high taxes. The price of fuel is at about 1.4$ per liter (or 5.3$ per gallon) while the tax amounts to about two thirds of that sum, making the tax on fuel something like 200%. Yes, two zeros, no joke. Well, it actually is a joke but not a funny one.
Anyway, alcohol based fuel would probably not be exempt to that insane tax, making any attempt to invest in such technologies likes of a financial suicide. A solid way around the problem could be a transportation business, mixed with alcohol fuel production for your own needs combined with greenhouse agriculture. Maybe one could exploit the “alternative renewable energy” fad.
mkey, I think that you got some good ideas along that line. I forgot what country you live in. …?? I know you work in the ship building industry with old utensils.
This short segment video clip is one of my favorites.
https://www.youtube.com/watch?v=rR-C_bcEGf4&feature=youtu.be&t=1h15m8s
The exhaust from alcohol fuel is cleaner from pollutants than the intake air. Just CO2 and water.
In the U.S., a co-op making alcohol fuel actually gets a huge tax credit which makes the cost of alcohol almost negligible according to David Blume. Being an alternative fuel, there are many regulations on its side. I think the EPA mandates a certain amount of alcohol to be mixed in with gasoline.
About 2 hours from me is Glen Rose, Texas, once the Moonshine Capital of Texas. The small town was a tourist place back during prohibition, both for the mineral water/sanitariums/magnetic healers and for the booze. The whole county was making the stuff, even the Sheriff and County Attorney. My kind of people.
– Article – http://www.yourglenrosetx.com/visitors/article_8f675e74-63f4-11e1-9946-001871e3ce6c.html
Gorgeous place, Glen Rose, with a clear flowing winding river over boulders and rocks. My son and grandkids live there. In fact, his great-grandfather once owned the “Dinosaur Valley State Park” where huge footprint fossils are in the Paluxy riverbed.
– Photos –
https://media-cdn.tripadvisor.com/media/photo-s/02/1e/b9/d3/the-kiddos-enjoyed-a.jpg
http://paleo.cc/paluxy/tsiteovr3b.jpg
http://www.texansunited.com/glenrose/files/2012/07/BIG-ROCKS-IN-GLEN-ROSE-TEXAS.jpg
https://upload.wikimedia.org/wikipedia/commons/7/77/Glen_Rose_Texas.jpg
petrified wood mixed in – http://trtdg.com/wp-content/uploads/2010/05/Glen-Rose-Decay.jpg
– CREDITS for ethanol (ALCOHOL) traded as commodities –
A tremendous Wall Street racket via the EPA under the “green movement” which adds major hidden costs to the consumer.
The EPA’s Renewable Standard Fuel (RSF) program’s RIN (Renewable Identification Number). These are also sometimes called as “credits”. These credits are traded as commodities, and many brokerages carry them.
When first issued by the EPA their initial cost could be as low as 7 cents per gallon, but later inflated to many times that in trading.
QUOTES
…Due to the steep rise in the cost of RINs, the independent refiners are incurring huge costs. Valero Energy Corp. expects the cost for RINs to be $850 million this year, whereas CVR Refining expects the cost to be $250 million…
…“RINs continue to be an egregious tax on our business,” Jack Lipinski, CEO of CVR Refining, said Oct. 27 on a conference call with analysts. “I would predict that small refiners, merchant refiners, will be pushed to the brink and maybe even into bankruptcy in the future,” reports Bloomberg….
http://oilprice.com/Energy/Energy-General/Trumps-Election-Is-Great-News-For-Independent-Refiners.html
QUOTE
…Price movements on other commodities futures are limited by the exchanges on which they trade as a check on speculation. But the biofuel credits are not traded on an exchange: their prices are unbridled. And, unlike in the broader financial industry, no formal qualification or license is required before a broker can start trading.
“There is a RINs trading desk at any major brokerage now,” said Paul Niznik, bio-fuels manager for Hart Energy, based in Houston. “There are people who are not refiners that are buying and selling RINs like a commodity. They treat it like something to be traded, to be day-traded.”…
…“When you see something change as rapidly as this, somebody’s hoarding them, somebody’s buying them, somebody’s making big bucks,” said Senator Thomas A. Coburn, Republican of Oklahoma, a big oil state. After his staff examined the run-up in prices this summer, he said he was concerned that “big moneyed interests” were gaming the credits…
…Mr. O’Malley, the chairman of PBF Energy, likens the outcome to a hidden tax on the public. Unlike other taxes, which go to the government, this one goes to the speculators…
…For banks, trading RINs for clients can be lucrative. A big reason is that the credits are far more difficult to buy and sell because they are not traded on exchanges like stocks. As a result, the difference between the price at which one party is willing to sell and another is willing to buy is unusually wide. Those fat spreads mean big money for anyone serving as a middleman…
…In addition to Morgan Stanley and JPMorgan Chase, other big banks, like Citigroup and Barclays, are also registered with the E.P.A. to trade the credits….
http://www.nytimes.com/2013/09/15/business/wall-st-exploits-ethanol-credits-and-prices-spike.html
About the above post regarding the RIN under the EPA’s RFS.
I should have mentioned…
The EPA pressures refiners of gasoline to add alcohol to the mix. Thus refiners badly need to purchase these RINs, but are extorted by big Wall Street players who buy up cheap RINs from the EPA and resell them for extremely high prices to the refiners.
These “credits” show exactly what’s wrong with the “economy” in general. While those competing have to innovate, be lucky, gamble, take risks and work their asses off, these assholes just push paper around, change rules as per their liking and leech off other peoples’ hard work. It’s truly sickening.
I live in Croatia, one of the countries latest creation of which defined the term “balkanization.” The government in this area is overreaching and overarching, taxes stifle any attempt of innovation and people are quite brainwashed into thinking the state will help them out. At the same time, about half of the population is sucking on the state titty and as such there isn’t much potential in way of making meaningful changes.
One good thing is that the system, as massive as it is, isn’t functioning (unbelievable, is it not?) so the tax man can be handled various ways, probably best through bribery or possibly some shotgun blasts. The ordinary police is quite cowardly and full of suitable (as we call them here) people, virtually a bunch of Yes! men, nothing more.
I had to look at a map to refresh myself on Croatia. They keep carving up that region.
I bet you got some stories.
Interesting mindset of the general society.
mkey, Your English and communication skills are pretty dang good. Except I never see you use words like “ya’ll” or “you bet” or “fixin to” or “uh huh” or “ain’t”.
Where did ya get yur Ingleesh learnin?
I do use ain’t at times. Like, “ain’t that some shit” etc.
I guess every skill that I have is something people would refer to as “self taught” since I can’t remember many a occasion on which others would go that extra mile to teach me (or anyone else in my immediate vicinity) something of true value. People just move on and try to get through the day, several thousands of days in a row.
Bosnia is a ticking time bomb, the threestate “solution” will disintegrate and another war will break out, if people don’t get smart about it really quickly. There are many war mongers on all sides and a lot of people are doing their worst to keep the hate slowly brewing. There are far too many nationalist radicals on all sides for this to end peacefully.
My general area didn’t see much of the 90es war, east of the country took the brunt of it. But most of the damage wasn’t done during war time anyway. This nation has become incredibly docile and corrupted. Maybe it’s that stuff they keep spraying over us? Just the other day I took a few pictures of the sky right above my apartment building.
http://imgur.com/a/UQDMq
Those traces took several hours to dissolve, leaving a thin unnatural looking cloudy layer of … something. They kept flying over for hours, leaving fresh traces all around. I had my eye on others to see if anyone would notice what’s going on above their heads, but seemingly nobody did.
mkey,
Those guys messed up a beautiful blue sky.
And you mentioned Bosnia. Man! I hate it when some folks just try to cause a mess.
In my opinion, another important aspect involving any currency, is NOT to be dependent upon it.
“Dependence” upon one source opens up vulnerabilities such as manipulation or reliance.
“Dependence” can cover a lot of ground besides currency. Even our News sources, as Corbett often emphasizes… We should not be dependent or reliant upon one source or one person’s opinion, including James Corbett.
After all, the flip side to “dependent” is “independent”.
I don’t think it matters what system we adopt to govern or regulate our lives – so long as humans (in their present state) are running it, they’ll screw it up.
The problem is US (no pun intended). WE have to change. But first someone has to ask the question: what’s wrong with us?
No kidding man. We all have aberrations. And the people I am most apprehensive of are those who don’t seek to improve themselves personally…and they are even driving cars 60 mph alongside me.
ha! You are right. My computer does also. And I watch what I say if I am around anyone who has a nearby cell phone, especially when using keywords.
Corbett Brains,(I subscribed to this thing , partly because I like the way you all think. I wish I’d included that in the ‘big oh’ comments and questions.) I like to learn these concepts,thoroughly understand them and pass them on to my daughter.I wish someone had taken a moment to enlighten me when I was younger. Now I know the importance of these concepts and how I missed numerous oppertunities, I wish my daughter avoids my mistakes and builds a better decentralized America.
I have a few questions to ask before I watch all the links, I’m thinking about on this topic.
1. Has anyone heard the story about what happen in Brazil, may have been Argentina when they were experiencing hyper inflation and a couple young economists save the day, suggested new currentcy. They were not suggesting much more than that but I vaguely remember the piece. Probibly was NPR. What I took from it was the meaning, affect and aura that (get this right) currentcy has on our perceptions. Seems they were saying the stuff represented nothing and panic wasn’t called for. They just gave the boogieman a new friendly name and new number.
2.am I right in saying Jones one size fits all is collectivism lite. Jones seems to be suggesting not to overshock the masses minds. Not travel to far off the reservation but certainly off. I do see James point and concerns so I ask will the number of currencies get terribly confusing ( like the Healthcare insurancy/currentcy contracts) Is currentcy a contract?
3. It is late hope I was clear enough after being sprayed for the last 4 days thank you for any answers you may offer.on to the links and bed. Thanks James you kick Prof. Zackery in the head.
Thanks for the links mi amigo, Pablito.
I am bookmarking this webpage. Getting very busy in life and will need to revisit these.
ha! I laughed at the last line, nosoapradio.
The only “revolution” will be individual, more and more individuals going about their “business” progressively “off the grid”, gradually weaning themselves through a cocktail of exchange methods, as people begin to see others fructifying and living well outside the bounds and bonds of usury…passing their ways on to friends, family, down through generations…
humans obeying the invisible hand of answering their needs and desires thanks to their unleashed autonomy and creative potential…
I guess sewage workers would be much better paid than say…well what they are today… new value placed on certain jobs,…
On that last note: The General Manager of a Dump, (a landfill), can make over $250,000 per year. I know. A Manager once gave me a tour of the dump.
Garbage + Blockbuster Video + Miami Dolphins + AutoNation = Wayne Huizenga
Profitable Clean Garbage Processing into Renewable Fuels, Metals, and other viable products via PLASMA (5 minutes) https://www.youtube.com/watch?v=obfpcqAHEek&feature=youtu.be&t=52s
ha! I always like reading your posts. nosoapradio, You are very level-headed, well informed, communicate well, and you are “real”, dude.
How do you propose “getting rid of” them? Armed revolution, or legislation? The powers that shouldn’t be have the corner of the market on those. I think Corbett’s proposed strategy of “subverting” is better than “open opposition”. We can’t beat them through legislation or combat, but we can beat them by living our own lives independent of them, as best we can at least. So the best way to “get rid of” is to replace them in our own lives. Eventually we may be able to let them fade into obscurity as people stop paying attention to them and start paying attention to what actually matters.
My thoughts exactly, “getting rid” of something at first sounds great, it may not be that practical to implement. Probably the only viable way of “getting rid” of some of these guys would be with help of a squad of assassins. Not sure how many would be up for something like that.
Remember they are like Hydra. You cut off one head they grow two more. And violence begets violence. It will never end with just one or two deaths, which is why it should never start with one or two deaths. What these monsters understand is hatred and violence, but what they don’t understand is love and compassion. In a world where justice doesn’t seem to exist anymore, I think I will choose mercy instead. We need to help people, not focus on “assassinating” evil.
I don’t mean to infer you actually condone violence, however, but I know many people in this community do. They need to realize that’s the same tactics as the “enemy”, and will only result in more loss of innocent lives and freedom.
I see violence as an option, but I don’t wish for it nor do I hope it will come to that. However, I do fear the time will come (again) when the MPs will be doing rounds around the neighborhood and marching people off to the frontline. When that happens, I don’t think mercy will cut it. Most think they would know how to act in such calamity, but most of them will be caught up in their slave mentality, unable to resist.
To that effect I recommend watching this movie
Bailout: The Age of Greed
http://www.imdb.com/title/tt2368553/
Nevermind the propped up metascore.
Cost of Housing
(Correct me if I am off-base.)
I feel that the Fed and the U.S. government strive to increase “Housing Starts”, new construction, and rising real estate prices. There are probably many reasons, but two reasons would include 1) pumping more money supply into the economy (via loans) and 2) generating more consumer spending.
The Fed often cites a relatively low inflation rate (via rigged government numbers) at its meetings.
SEGUE – The Red Pill EXPO & Robert Kiyosaki – https://redpillexpo.org/
Tim McMahon offers an excellent “Annual Inflation Rate” chart here…
https://inflationdata.com/Inflation/Inflation/AnnualInflation.asp
…with an insightful article here… https://www.inflationdata.com/inflation/inflation_rate/currentinflation.asp
Cumulative Inflation Calculator
https://inflationdata.com/Inflation/Inflation_Calculators/Cumulative_Inflation_Calculator.aspx
EXCERPT
From December 1957 through December 2007 the Inflation Rate Calculator will tell you that inflation was 639.56%. … So we find that something that cost $1 in December 1957 would cost $1+ ($1 x 6.3956)=$7.40
Tim McMahon talks about housing prices and inflation here…
https://inflationdata.com/articles/inflation-adjusted-prices/inflation-adjusted-housing-prices/
EXCERPT & Robert Kiyosaki
One fundamental philosophy that Robert T. Kiyosaki in his book “Rich Dad Poor Dad: What The Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not!” is that a house is not an investment unless it is being rented out. The key is to understand the difference between an investment and a consumption item. One of his favorite sayings is that “The Wealthy Buy Assets, the Poor Buy Liabilities, and the Middle Class Buy Liabilities Believing They Are Assets”. LINK to last phrase – http://yourfamilyfinances.com/2009/12/03/the-wealthy-buy-assets/
Housing Prices in the U.S.
Zillow has this chart for the “United States Home Value Index”.
(scroll down)- https://www.zillow.com/home-values/
Graph – http://home.stackfolio.com/wp-content/uploads/2017/03/Screen-Shot-2017-03-19-at-4.32.16-PM.png
In my neck of the woods, a $200,000 house in 2012 is now, 5 years later(2017), valued at $300,000.
https://static1.squarespace.com/static/57e85dabb8a79b8ba30831bd/t/580415ee2e69cf75b4a64914/1476662794322/Average+Home+Value+2017
And rents have also gone up in line with real estate prices. The high rents are squeezing the hell out of lower income folks. In my area, large apartment complexes are continually being built.
EASY LOANS…
In fact, if a person owns a home they can easily obtain a mortgage on a rental property with almost no pain in paperwork nor credit worthiness… …just like in the Washington Mutual days prior to 2008.
So, of course, many home owners are purchasing property in order to rent it out.
I also have contemplated this Trump scenario of exporting all the illegals, of which there are millions. After all, they are living somewhere. Who would fill the vacancies? Would this not lead to a stress in the real estate market?
Is this one of the reasons why Lee Hamilton (of 9/11 fame) was promoting legal immigration into the U.S.?…part of an agenda to pump up the real estate market? (I personally saw that sly conman in 2009 speaking about immigration – https://news.unt.edu/news-releases/unt-hold-conference-immigration-during-21st-century )
I think the U.S. has about a million legal immigrants per year since the year 2000. After all, they need to live somewhere. And that is a lot of annual housing growth.
I follow what you are saying Peter.
I believe that “End the Fed” is just a meaningless slogan like “Make America Great again” and “Change We Can Believe In”
It is useful as a tool to wake people up to the Federal Reserve scam, but that it all.
I think Jerry answered his own question, Anything we attempt to do will be subverted by Government.
So the real question is how do we end the Government?
I agree. “End the Fed” is really an awareness campaign. I have been to several “End the Fed” demonstrations in Dallas. Passed out a lot of DVDs and flyers. Made a bunch of “TV Lies” signs.
As far as ending the Government…
For me personally, people can play that rigged, controlled game of government if they want to.
As much as I am able, I am not going to play that game.
And I like encouraging others not to play the game of government.
And I am going to try to be clever about not playing the game of government.
Peter,
You really hit a “unit of value” which is very important to all of us who are awake.
Like you pointed out, our time has value. An employer may assign a dollar value. In my opinion, the self-employed really understand this dollar value.
And the value goes beyond “dollars”, because some things are difficult to compare to dollars. Time with family, personal entertainment time, time to work on a personal pet project or hobby, taking care of one’s body, etc.
For me, it can be a tough act to “figure out how to delegate my time” and be true to my wants and needs. With so many hours in the day, I have to make choices of what “not to do”.
For example: In my current season, I choose not to spend endless hours researching the finer details of all the many deceptions and watching countless documentaries. So, I come here to gain & glean what I can. And fortunately, there is a wonderful like-minded community here.
I have other fish to fry. I recognize that everyone does.
Substance.
Some people delegate their time towards things of substance.
Some don’t.
I don’t enjoy hanging out with the latter.
If you were an economist, the possibility to research alternatives wouldn’t even graze your mind.
There exists currency based on working hours, the Ithaca hours community based local currency.
http://www.ithacahours.com/
Them is New York hours.
(30 seconds) – https://www.youtube.com/watch?v=mSxnieYctVM
Pablo de Boar, thank you for having this link in your comments. This should be taught at all levels of public education. I will bring this up at the next area school board meeting. Around hear it takes repeating any unacknowledged fact 10 times for anyone to question their immediate reality. Very few people want to disturb their comfortable numbness. I can’t even get my friends to see the chemtrails above their heads and visibly before their eyes. One older gentleman sent me the NASA public fact sheet from 1996 explaining contrails as the cause. We have a colloquial saying ” you can lead a jackass to water but you can’t make them drink”. This same honorable man gave me a video years ago ” A Very British Coupe”. All I can say is he has gone back to sleep or is like others. Occasionally I try to get a ” stomptish”(lots of Germans around here) going and the most prevalent theme is how scared and afraid everyone is. Their response is to get a concealed carry permit like the real threat can be plugged by a 38cal.or 9mm.