Man of the year...

So it looks like Time is about as clueless as the guys who have been giving out Nobel Prizes lately.

First we had Paul Krugman win the prize for economics.  If you don't know about how wrong he is, go listen to Peter Schiff on youtube or read this comic by Irwin Schiff (Peter's dad).

Then we had Obama get a deposit on his future accomplishments with the Nobel piece Prize.  Now Time magazine has decided that Ben Bernanke is the man of the year.

This is due to a lack of education.  Or at the very least, a lack of reflection on the lessons of history.  Probably the single most responsible person for this whole crisis lasting as long as it will is Ben Bernanke, the head of the Federal Reserve...the man of the year.

Climategate...why haven't I heard about this?

Has anyone been following the biggest scandal of all time?  Climategate.

Supposedly, the existence of global warming is not supported by the data collected.  Anyone know much about this?  or have thoughts on it?  Why isn't the media making a big deal out of this?

Shouldn't people be very angry?  Please comment and share.

http://blogs.telegraph.co.uk/news/jamesdelingpole/100017393/climategate-the-final-nail-in-the-coffin-of-anthropogenic-global-warming/

http://www.foxnews.com/opinion/2009/11/24/john-lott-climate-change-emails-copenhagen/

a little piece of advice that's actually worth something in this dying economy...

Part 1:

Look up the definition of fiat money. http://en.wikipedia.org/wiki/Fiat_currency

You don't have to understand all of it, but you do need to understand two things:

1. The real purpose of money.

2. How fiat money is different from real money and what gives it value. (not the "value" of the dollar)

-----------------------------------------------------------

 

Part 2:

 

Find out who creates our money...our dollars.

 

 

Q:  Where does our money come from?  Is it a government entity? 

 

A:  The Federal Reserve (The Fed).  No it is not a government entity.  It is owned by its member banks - the banks to whom it freely gives money whenever it wants (cashing checks from company accounts to the owners with cash that didn't exist yesterday).

 

 

Q:  Who is in charge of the Fed?

 

A:  Congress sorta tells the Fed what its job is, but that's about it.  The Fed messes with the money supply whenever it wants to create short terms booms in the economy...at the expense of long term crashes.

 

 

Q:  Why does this matter to me?  I can still buy a gallon of milk for $4.99.

 

A:  It matters because the Fed creates/controls artificial inflation.  Yeah, $4.99 huh?  Well milk used to cost $1.00 a gallon.  No, it is not that much more expensive to produce milk.  The price is driven up by inflation (created only by the Fed).  The increase in the price of milk is not price inflation, per se.  The cause of the increase in the price of milk is inflation.

 

Any questions?