lewrockwell--2020-08-20--The Frugalite’s Ultimate Guide to Living Beneath Your Means

While many people advocate living within your means , I don ’ t think that ’ s enough .
I ’ m a proponent of living beneath your means .
Within is great – it signifies a lack of debt and only spending what you can afford .
But beneath is even better , because it signifies that you have quite a bit left over for dealing with a rainy day .
Living beneath your means may not sound like a whole lot of fun .
It sounds as though a person doing this is stuffing coffee cans full of @ @ @ @ @ @ @ , darning socks until they simply can ’ t withstand another repair , and eating cold beans in a darkened room .
In reality , it isn ’ t like that at all .
Learning to live beneath your means can bring you a kind of peace that you never felt before .
It can help you survive financial crunches both large and small .
It can teach you to take joy in simpler things instead of always looking for the next thing that will give you a surge of happiness .
Some @ @ @ @ @ @ @ It may be elementary to you .
Hang in there because there are graduate-level frugality ideas on the way .
We ’ re starting off with the fundamentals and will move on toward high-level , Ph.D. thrift from there .
Others have gotten themselves into a pickle and want to figure out a way to get out of it .
Some have cut down to the bare bones and are still having trouble .
( If you are not making enough money to pay your bills , this article may help . )
@ @ @ @ @ @ @ lifestyle in which every dime goes out to one in which there ’ s money left over each month ?
Here are some tips to help you make the transition to a more peaceful financial lifestyle .
Many of these tips will work even if you ’ ve already begun having financial problems , but a few are preventative measures that are geared toward making a lifestyle change when you aren ’ t yet under the gun .
The first thing you have to do is get a clear picture of what money @ @ @ @ @ @ @ use a debit card for everything , this is incredibly easy .
If you use cash or a combination , you ’ ll need to spend at least a month taking notes of where your money is going .
Print out your records for the past 2-3 months .
Then , plug the numbers into a spreadsheet .
This article has 10 different styles of budget spreadsheets that are free .
Pick the one that looks like it will work best for you .
( Not the debt reduction one , though – @ @ @ @ @ @ @ this is done , you ’ ll have a clear picture of where your money is going .
This can be a painful step , but it ’ s essential .
( This article is a good one if your frugal living budget may have gone awry . )
Your fixed expenses are the baseline of your budget .
These are the expenditures that don ’ t ( for most people ) change from month to month .
They are bills like car payments , rent/mortgage , insurance , gym memberships , cell @ @ @ @ @ @ @ idea .
You may not have all of these bills – it not , that ’ s great .
If so , you may want to make some adjustments .
You need to know this magic number to set your budget .
This number may not be final , as we ’ ll discuss below , but it is important to know , if you lost your job right this minute , how much your output would be .
3 . )
What are your bad habits ?
After you plug in your @ @ @ @ @ @ @ in black and white , it ’ s time for a grim dose of reality .
What you ’ re taking a look at first are those little random expenditures that siphon away money subtly .
The $ 5 here and $ 10 there .
You may discover that you spend $ 300-400 each month for a daily lunch out that didn ’ t seem like much in individual increments , but when you add the daily $ 5 drive-thru coffees and an afternoon bottle of water , ends up exceeding $ 500 @ @ @ @ @ @ @ Lotsa money .
Maybe you smoke or drink alcohol outside the home on a regular basis .
Do what you ’ re going to do – I ’ m not here to tell you to stop smoking or drinking – but look at how much you ’ re spending to do it .
Maybe you buy a giant soda pop out every day for a couple of dollars .
That adds up , too .
Nearly everyone discovers that they have at least one bad spending habit in this part .
Don ’ @ @ @ @ @ @ @ it .
Imagine what your life would be like with the money you blow on cigarettes , drive-thru coffee , giant fountain sodas , and happy hour tucked away waiting to help you through an emergency .
Unless you give up some of your bad spending habits and replace them with something more fiscally responsible , it ’ s going to be tough to live beneath your means .
The Best of Daisy Luther

While many people advocate living within your means, I don’t think that’s enough. I’m a proponent of living beneath your means. Within is great – it signifies a lack of debt and only spending what you can afford. But beneath is even better, because it signifies that you have quite a bit left over for dealing with a rainy day.
Living beneath your means may not sound like a whole lot of fun. It sounds as though a person doing this is stuffing coffee cans full of dollar bills into spaces in the walls, darning socks until they simply can’t withstand another repair, and eating cold beans in a darkened room.
In reality, it isn’t like that at all.
Budgeting Workbook: Fi... Correia, Jada Best Price: $4.00 Buy New $6.24 (as of 11:50 UTC - Details) Learning to live beneath your means can bring you a kind of peace that you never felt before. It can help you survive financial crunches both large and small. It can teach you to take joy in simpler things instead of always looking for the next thing that will give you a surge of happiness.
Some folks are already great at this. It may be elementary to you. Hang in there because there are graduate-level frugality ideas on the way. We’re starting off with the fundamentals and will move on toward high-level, Ph.D. thrift from there.
Others have gotten themselves into a pickle and want to figure out a way to get out of it. Some have cut down to the bare bones and are still having trouble. (If you are not making enough money to pay your bills, this article may help.)
But how do you go from a lifestyle in which every dime goes out to one in which there’s money left over each month? Here are some tips to help you make the transition to a more peaceful financial lifestyle. Many of these tips will work even if you’ve already begun having financial problems, but a few are preventative measures that are geared toward making a lifestyle change when you aren’t yet under the gun.
1.) Assess your budget.
The first thing you have to do is get a clear picture of what money goes out each month. If you use a debit card for everything, this is incredibly easy. If you use cash or a combination, you’ll need to spend at least a month taking notes of where your money is going. iBayam Journal Planner... Buy New $7.99 (as of 11:50 UTC - Details)
Print out your records for the past 2-3 months. Then, plug the numbers into a spreadsheet. This article has 10 different styles of budget spreadsheets that are free. Pick the one that looks like it will work best for you. (Not the debt reduction one, though – save that for later.)
Once this is done, you’ll have a clear picture of where your money is going. This can be a painful step, but it’s essential. (This article is a good one if your frugal living budget may have gone awry.)
2.) Calculate your fixed expenses.
Your fixed expenses are the baseline of your budget. These are the expenditures that don’t (for most people) change from month to month. They are bills like car payments, rent/mortgage, insurance, gym memberships, cell phone bills, cable/internet …you get the idea. You may not have all of these bills – it not, that’s great. If so, you may want to make some adjustments.
You need to know this magic number to set your budget. This number may not be final, as we’ll discuss below, but it is important to know, if you lost your job right this minute, how much your output would be.
3.) What are your bad habits?
Weekly Meal Planner: 5... Design Co., Cardien Best Price: $3.00 Buy New $5.80 (as of 11:50 UTC - Details) After you plug in your numbers and you can see them there in black and white, it’s time for a grim dose of reality. What you’re taking a look at first are those little random expenditures that siphon away money subtly. The $5 here and $10 there.
You may discover that you spend $300-400 each month for a daily lunch out that didn’t seem like much in individual increments, but when you add the daily $5 drive-thru coffees and an afternoon bottle of water, ends up exceeding $500 a month. Half a thousand. Lotsa money.
Maybe you smoke or drink alcohol outside the home on a regular basis. Do what you’re going to do – I’m not here to tell you to stop smoking or drinking – but look at how much you’re spending to do it. Maybe you buy a giant soda pop out every day for a couple of dollars. That adds up, too.
Nearly everyone discovers that they have at least one bad spending habit in this part. Don’t beat yourself up. Just fix it. Imagine what your life would be like with the money you blow on cigarettes, drive-thru coffee, giant fountain sodas, and happy hour tucked away waiting to help you through an emergency.
Unless you give up some of your bad spending habits and replace them with something more fiscally responsible, it’s going to be tough to live beneath your means.
Read the Whole Article
The Best of Daisy Luther


lewrockwell--2020-08-20--How Fascism Comes to America

How Fascism Comes to America

I think there are really only two good reasons for having a significant amount of money : To maintain a high standard of living and to ensure your personal freedom .
There are other , lesser reasons , of course , including : to prove you can do it , to compensate for failings in other things , to impress others , to leave a legacy , to help perpetuate your genes , or maybe because you just can ’ t think of something better to do with your time .
But I ’ ll put aside those lesser motives @ @ @ @ @ @ @ psychological foibles .
Basically , money gives you the freedom to do what you ’ d like – and when , how , and with whom you prefer to do it .
Money allows you to have things and do things and can even assist you to be something you want to be .
Unfortunately , money is a chimera in today ’ s world and will wind up savaging billions in the years to come .
Fools , Frauds and Fire ... Scruton , Roger Best Price : $ 15.32 Buy New @ @ @ @ @ @ @ believe we ’ re well into what I call The Greater Depression .
A lot of people believe we ’ re in a recovery now ; I think , from a long-term point of view , that is total nonsense .
It will be far more severe than what we saw in 2008 and 2009 and will last quite a while – perhaps for many years , depending on how stupidly the government acts .
There are reasons for optimism , of course , and at least two of them make sense .
@ @ @ @ @ @ @ to improve his economic status .
Many ( but by no means all ) of them will intuit that the surest way to do so is to produce more than they consume and save the difference .
That creates capital , which can be invested in or loaned to productive enterprises .
But what if outside forces make that impossible , or at least much harder than it should be ?
The second reason for optimism is the development of technology – which is the ability to manipulate the material world to suit @ @ @ @ @ @ @ technology , and that also adds to the supply of capital .
The more complex technology becomes , the more outside capital is required .
But what if sufficient capital isn ’ t generated by individuals and businesses to fund further technological advances ?
There are no guarantees in life .
Throughout the first several hundred thousand years of human existence , very little capital was accumulated – perhaps a few skins or arrowheads passed on to the next generation .
And there was very little improvement in technology – it was many @ @ @ @ @ @ @ , say , the invention of the bow .
Our Enemies in Blue : P ... Williams , Kristian Best Price : $ 15.17 Buy New $ 15.17 Things very gradually accelerated and improved , in a start-stop-start kind of way – the classical world , followed by the Dark Ages , followed by the medieval world .
Finally , as we entered the industrial world 200 years ago , it looked like we were on an accelerating path to the stars .
All of a sudden , life was no longer necessarily @ @ @ @ @ @ @ brutish , or short .
I ’ m reasonably confident things will continue improving , possibly at an accelerating rate .
But only if individuals create more capital than they consume and if enough of that capital is directed towards productive technology .
Those are the two mainsprings of human progress : capital accumulation and technology .
Unfortunately , however , that reality has become obscured by a morass of false and destructive theories , abetted by a world that ’ s become so complex that it ’ s too difficult for most @ @ @ @ @ @ @ .
Furthermore , most people in the OECD world have become so accustomed to good times , since the end of WW2 , that they think prosperity is automatic and a permanent feature of the cosmic firmament .
So although I ’ m very optimistic , progress – certainly over the near term – isn ’ t guaranteed .
These are the main reasons why the standard of living has been artificially high in the advanced world , but don ’ t confuse them with the two reasons for long-term prosperity .
The @ @ @ @ @ @ @ nothing wrong with debt in itself ; lending is one way for the owner of capital to deploy it .
But if a society is going to advance , debt should be largely for productive purposes , so that it ’ s self-liquidating ; and most of it would necessarily be short term .
But most of the scores of trillions of debt in the world today are for consumption , not production .
And the debt is not only not self-liquidating , it ’ s compounding .
And most of it is @ @ @ @ @ @ @ any specific asset .
A lender can reasonably predict the value of a short-term loan , but debt payable in 30 years is impossible to value realistically .
The Age of Surveillanc ... Zuboff , Shoshana Best Price : $ 18.59 Buy New $ 19.06 All government debt , mortgage debt , consumer debt , and almost all student loan debt does nothing but allow borrowers to live off the capital others have accumulated .
It turns the debtors into indentured servants for the indefinite future .
The entire world has basically overlooked @ @ @ @ @ @ @ of sound economics .
The second is inflation .
Like debt , inflation induces people to live above their means , but its consequences are even worse , because they ’ re indirect and delayed .
If the central bank deposited $ 10,000 in everyone ’ s bank account next Monday , everyone would think they were wealthier and start consuming more .
This would start a business cycle .
The business cycle is always the result of currency inflation , no matter how subtle or mild .
And it always results in @ @ @ @ @ @ @ goes on , the more ingrained the distortions and misallocations of capital become , and the worse the resulting depression .
We ’ ve had a number of inflationary cycles since the end of the last depression in 1948 .
I believe we ’ re now at the end of what might be called a super-cycle , resulting in a super-depression .
The third is the export of dollars .
This is unique to the U.S. and is the reason the depression in the U.S. will in some ways be worse than most @ @ @ @ @ @ @ 70s , the dollar has been used the way gold once was – it ’ s the world ’ s currency .
The problem is that the U.S. has exported perhaps $ 10 trillion – but nobody knows – in exchange for good things from around the world .
It was a great trade for a while .
The foreigners get paper created at essentially zero cost , while Americans live high on the hog with the goodies those dollars buy .
But at some point quite soon , dollars won ’ t @ @ @ @ @ @ @ will start dumping their dollars , passing the Old Maid card .
Ultimately , most of the dollars will come back to the U.S. , to be traded for titles to land and businesses .
Americans will find that they traded their birthright for a storage unit full of TVs and assorted tchotchkes .
But many foreigners will also be stuck with dollars and suffer a huge loss .
It ’ s actually a game with no winner .
The Road to Ruin : The ... James Rickards Best Price : $ 2.58 @ @ @ @ @ @ @ factors have enabled essentially the whole world to live above its means for decades .
The process has been actively facilitated by governments everywhere .
People like living above their means , and governments prefer to see the masses sated .
The debt and inflation have also financed the growth of the welfare state , making a large percentage of the masses dependent , even while they ’ ve also resulted in an immense expansion in the size and power of the state over the last 60-odd years .
The masses have come @ @ @ @ @ @ @ that can do almost anything , including kiss the economy and make it better when the going gets tough .
The type of people who are drawn to the government are eager to make the state a panacea .
So they ’ ll redouble their efforts in the fiscal and monetary areas I ’ ve described above , albeit with increasingly disastrous results .
They ’ ll also become quite aggressive with regulations ( on what you can do and say , and where your money can go ) and taxes ( much @ @ @ @ @ @ @ ones , like a national VAT and a wealth tax ) .
And since nobody wants to take the blame for problems , they ’ ll blame things on foreigners .
Fortunately ( the U.S. will think ) they have a huge military and will employ it promiscuously .
So the already bankrupt nations of NATO will dig the hole deeper with some serious – but distracting – new wars .
It ’ s most unfortunate , but the U.S. and its allies will turn into authoritarian police states .
Even more than @ @ @ @ @ @ @ actually .
They ’ ll all be perfectly fascist – private ownership of both consumer goods and the means of production topped by state control of both .
Fascism operates free of underlying principles or philosophy ; it ’ s totally the whim of the people in control , and they ’ ll prove ever more ruthless .
So where does that leave us , as far as accumulating more wealth than the average guy is concerned ?
I ’ d say it puts us in a rather troubling position .
The general @ @ @ @ @ @ @ , as will your personal freedom .
And if you ’ re an upper-middle-class person ( I suspect that includes most who are now reading this ) , you will be considered among the rich who are somehow ( this is actually a complex subject worthy of discussion ) responsible for the bad times and therefore liable to be eaten .
The bottom line is that if you value your money and your freedom , you ’ ll take action .
There ’ s much , much more to be said on all @ @ @ @ @ @ @ lot on the topic over the past few years , at some length .
But I thought it best to be brief here , for the purpose of emphasis .
Essentially , act now , because the world ’ s combined economic , financial , political , social , and military situation is as good as it will be for many years… and a lot better than it has any right to be .
One more thing : Don ’ t worry too much .
All countries seem to go through nasty phases @ @ @ @ @ @ @ today , we ’ ve seen it in big countries such as Russia , Germany , and China .
And in scores of smaller ones – the list is too long to recount here .
The good news is that things almost always get better , eventually .
The Best of Doug Casey

I think there are really only two good reasons for having a significant amount of money: To maintain a high standard of living and to ensure your personal freedom.
There are other, lesser reasons, of course, including: to prove you can do it, to compensate for failings in other things, to impress others, to leave a legacy, to help perpetuate your genes, or maybe because you just can’t think of something better to do with your time.
But I’ll put aside those lesser motives, which I tend to view as psychological foibles.
Basically, money gives you the freedom to do what you’d like – and when, how, and with whom you prefer to do it. Money allows you to have things and do things and can even assist you to be something you want to be. Unfortunately, money is a chimera in today’s world and will wind up savaging billions in the years to come. Fools, Frauds and Fire... Scruton, Roger Best Price: $15.32 Buy New $17.40 (as of 03:56 UTC - Details)
As you know, I believe we’re well into what I call The Greater Depression. A lot of people believe we’re in a recovery now; I think, from a long-term point of view, that is total nonsense. It will be far more severe than what we saw in 2008 and 2009 and will last quite a while – perhaps for many years, depending on how stupidly the government acts.
Real Reasons for Optimism
There are reasons for optimism, of course, and at least two of them make sense.
The first is that every individual wants to improve his economic status. Many (but by no means all) of them will intuit that the surest way to do so is to produce more than they consume and save the difference. That creates capital, which can be invested in or loaned to productive enterprises. But what if outside forces make that impossible, or at least much harder than it should be?
The second reason for optimism is the development of technology – which is the ability to manipulate the material world to suit our desires. Scientists and engineers develop technology, and that also adds to the supply of capital. The more complex technology becomes, the more outside capital is required. But what if sufficient capital isn’t generated by individuals and businesses to fund further technological advances?
There are no guarantees in life.
Throughout the first several hundred thousand years of human existence, very little capital was accumulated – perhaps a few skins or arrowheads passed on to the next generation. And there was very little improvement in technology – it was many millennia between the taming of fire and, say, the invention of the bow. Our Enemies in Blue: P... Williams, Kristian Best Price: $15.17 Buy New $15.17 (as of 05:36 UTC - Details)
Things very gradually accelerated and improved, in a start-stop-start kind of way – the classical world, followed by the Dark Ages, followed by the medieval world. Finally, as we entered the industrial world 200 years ago, it looked like we were on an accelerating path to the stars. All of a sudden, life was no longer necessarily so solitary, poor, nasty, brutish, or short. I’m reasonably confident things will continue improving, possibly at an accelerating rate. But only if individuals create more capital than they consume and if enough of that capital is directed towards productive technology.
Real Reasons for Pessimism
Those are the two mainsprings of human progress: capital accumulation and technology.
Unfortunately, however, that reality has become obscured by a morass of false and destructive theories, abetted by a world that’s become so complex that it’s too difficult for most people to sort out cause and effect. Furthermore, most people in the OECD world have become so accustomed to good times, since the end of WW2, that they think prosperity is automatic and a permanent feature of the cosmic firmament. So although I’m very optimistic, progress – certainly over the near term – isn’t guaranteed.
These are the main reasons why the standard of living has been artificially high in the advanced world, but don’t confuse them with the two reasons for long-term prosperity.
The first is debt. There’s nothing wrong with debt in itself; lending is one way for the owner of capital to deploy it. But if a society is going to advance, debt should be largely for productive purposes, so that it’s self-liquidating; and most of it would necessarily be short term.
But most of the scores of trillions of debt in the world today are for consumption, not production. And the debt is not only not self-liquidating, it’s compounding. And most of it is long term, with no relation to any specific asset. A lender can reasonably predict the value of a short-term loan, but debt payable in 30 years is impossible to value realistically. The Age of Surveillanc... Zuboff, Shoshana Best Price: $18.59 Buy New $19.06 (as of 03:11 UTC - Details)
All government debt, mortgage debt, consumer debt, and almost all student loan debt does nothing but allow borrowers to live off the capital others have accumulated. It turns the debtors into indentured servants for the indefinite future. The entire world has basically overlooked this, along with most other tenets of sound economics.
The second is inflation. Like debt, inflation induces people to live above their means, but its consequences are even worse, because they’re indirect and delayed.
If the central bank deposited $10,000 in everyone’s bank account next Monday, everyone would think they were wealthier and start consuming more. This would start a business cycle. The business cycle is always the result of currency inflation, no matter how subtle or mild. And it always results in a depression. The longer an inflation goes on, the more ingrained the distortions and misallocations of capital become, and the worse the resulting depression.
We’ve had a number of inflationary cycles since the end of the last depression in 1948. I believe we’re now at the end of what might be called a super-cycle, resulting in a super-depression.
The third is the export of dollars. This is unique to the U.S. and is the reason the depression in the U.S. will in some ways be worse than most other places. Since the early ’70s, the dollar has been used the way gold once was – it’s the world’s currency. The problem is that the U.S. has exported perhaps $10 trillion – but nobody knows – in exchange for good things from around the world. It was a great trade for a while. The foreigners get paper created at essentially zero cost, while Americans live high on the hog with the goodies those dollars buy.
But at some point quite soon, dollars won’t be readily accepted, and smart foreigners will start dumping their dollars, passing the Old Maid card. Ultimately, most of the dollars will come back to the U.S., to be traded for titles to land and businesses. Americans will find that they traded their birthright for a storage unit full of TVs and assorted tchotchkes. But many foreigners will also be stuck with dollars and suffer a huge loss. It’s actually a game with no winner. The Road to Ruin: The ... James Rickards Best Price: $2.58 Buy New $7.99 (as of 10:20 UTC - Details)
What’s Next
These last three factors have enabled essentially the whole world to live above its means for decades. The process has been actively facilitated by governments everywhere. People like living above their means, and governments prefer to see the masses sated.
The debt and inflation have also financed the growth of the welfare state, making a large percentage of the masses dependent, even while they’ve also resulted in an immense expansion in the size and power of the state over the last 60-odd years. The masses have come to think government is a magical entity that can do almost anything, including kiss the economy and make it better when the going gets tough. The type of people who are drawn to the government are eager to make the state a panacea. So they’ll redouble their efforts in the fiscal and monetary areas I’ve described above, albeit with increasingly disastrous results.
They’ll also become quite aggressive with regulations (on what you can do and say, and where your money can go) and taxes (much higher existing taxes and lots of new ones, like a national VAT and a wealth tax). And since nobody wants to take the blame for problems, they’ll blame things on foreigners. Fortunately (the U.S. will think) they have a huge military and will employ it promiscuously. So the already bankrupt nations of NATO will dig the hole deeper with some serious – but distracting – new wars.
It’s most unfortunate, but the U.S. and its allies will turn into authoritarian police states. Even more than they are today. Much more, actually. They’ll all be perfectly fascist – private ownership of both consumer goods and the means of production topped by state control of both. Fascism operates free of underlying principles or philosophy; it’s totally the whim of the people in control, and they’ll prove ever more ruthless.
So where does that leave us, as far as accumulating more wealth than the average guy is concerned?
I’d say it puts us in a rather troubling position. The general standard of living is going to collapse, as will your personal freedom. And if you’re an upper-middle-class person (I suspect that includes most who are now reading this), you will be considered among the rich who are somehow (this is actually a complex subject worthy of discussion) responsible for the bad times and therefore liable to be eaten. The bottom line is that if you value your money and your freedom, you’ll take action.
There’s much, much more to be said on all this. I’ve said a lot on the topic over the past few years, at some length. But I thought it best to be brief here, for the purpose of emphasis. Essentially, act now, because the world’s combined economic, financial, political, social, and military situation is as good as it will be for many years… and a lot better than it has any right to be.
One more thing: Don’t worry too much.
All countries seem to go through nasty phases. Within the lifetime of most people today, we’ve seen it in big countries such as Russia, Germany, and China. And in scores of smaller ones – the list is too long to recount here. The good news is that things almost always get better, eventually.
Reprinted with permission from International Man.
The Best of Doug Casey


lewrockwell--2020-08-20--When Half of NYC’s Tax Base Leaves and Never Comes Back

The separateness in New York , and by extension much of the nation curled around it from America ’ s eastern edge , stands out .
There are the hyper-wealthy and there are the multi-generational poor .
They depend on each other , but with COVID who needs who more has changed .
It ’ s easy to stress how far apart the rich and the poor live , even though the mansions of the Upper West Side are less than a mile from the crack dealers uptown .
The rich don ’ t ride public transportation , they don @ @ @ @ @ @ @ schools , they shop and dine in very different places with private security to ensure everything stays far enough apart to keep it all together .
But that misses the dependencies which until now have simply been a given in the ecosystem .
The traditional view has been the rich need the poor to exploit as cheap labor—textbook economic inequality .
But with COVID as the spark , the ticking bomb of economic inequality may soon go off in America ’ s greatest city .
Things are changing and New York , and @ @ @ @ @ @ @ itself what it wants to be when it grows up .
Killing the Host : How ... Hudson , Michael Best Price : $ 26.04 Buy New $ 32.95 It ’ s snapshot simple .
The wealthy and the companies they work for pay most of the taxes .
The poor consume most of the taxes through social programs .
COVID is driving the wealthy and their offices out of the city .
No one will be left to pay for the poor , who are stuck here , and the city will @ @ @ @ @ @ @ failed state scenario .
New York City is home to 118 billionaires , more than any other American city .
New York City is also home to nearly one million millionaires , more than any other city in the world .
Among those millionaires some 8,865 are classified as “ high net worth , ” with more than $ 30 million each .
They pay the taxes .
The top one percent of NYC taxpayers pay nearly 50 percent of all personal income taxes collected in New York .
Personal income tax in @ @ @ @ @ @ @ percent of all revenues .
Property taxes add in more than a billion dollars a year in revenue , about half of that generated by office space .
Fictitious Capital : Ho ... Durand , Cu00e9dric Best Price : $ 13.50 Buy New $ 18.18 Now for how the other half lives .
Below those wealthy people in every sense of the word the city has the largest homeless population of any American metropolis , which includes 114,000 children .
The number of New Yorkers living below the poverty line is larger than @ @ @ @ @ @ @ be the country ’ s 7th largest city .
More than 400,000 New Yorkers reside in public housing .
Another 235,000 receive rent assistance .
That all costs a lot of money .
The New York City Housing Authority needs $ 24 billion over the next decade just for vital repairs .
That ’ s on top of a yearly standard operating cost approaching four billion dollars .
A lot of the money used to come from Washington before a multibillion-dollar decline in federal Section 9 funds .
So today there is a @ @ @ @ @ @ @ , are being put off .
NYC also has a $ 34 billion budget for public schools , many of which function as distribution points for child food aid , medical care , day care , and a range of social services .
The budget for a city as complex as New York is a mess of federal , state , and local funding sources .
It can be sliced and diced many ways , but the one that matters is the starkest : the people and companies who pay for New York @ @ @ @ @ @ @ the city is already facing a $ 7.4 billion tax revenue hit from the initial effects of the coronavirus .
The money is there ; New York ’ s wealthiest individuals have increased their net worth by $ 44.9 billion during the pandemic .
It ’ s just not here .
When Money Dies : The N ... Adam Fergusson Best Price : $ 1.97 Buy New $ 10.08 New York ’ s Governor Andrew Cuomo has seen a bit of the iceberg in the distance .
He recently took to MSNBC to @ @ @ @ @ @ @ who fled the coronavirus outbreak , to return .
Cuomo said he was extremely worried about New York City if too many of the well-heeled taxpayers who fled COVID decide there is no need to move back .
“ They are in their Hamptons homes , or Hudson Valley or Connecticut .
I talk to them literally every day .
I say .
‘ When are you coming back ?
I ’ ll buy you a drink .
I ’ ll cook .
But they ’ re not coming back right now .
@ @ @ @ @ @ @ re thinking , if I stay there , they pay a lower income tax because they don ’ t pay the New York City surcharge .
So , that would be a bad place if we had to go there.
” Included in the surcharge are not only NYC ’ s notoriously high taxes .
The recent repeal of the federal allowance for state and local tax deductions ( SALT ) costs New York ’ s high earners some $ 15 billion in additional federal taxes annually .

The separateness in New York, and by extension much of the nation curled around it from America’s eastern edge, stands out. There are the hyper-wealthy and there are the multi-generational poor. They depend on each other, but with COVID who needs who more has changed.
It’s easy to stress how far apart the rich and the poor live, even though the mansions of the Upper West Side are less than a mile from the crack dealers uptown. The rich don’t ride public transportation, they don’t send their kids to public schools, they shop and dine in very different places with private security to ensure everything stays far enough apart to keep it all together.
But that misses the dependencies which until now have simply been a given in the ecosystem. The traditional view has been the rich need the poor to exploit as cheap labor—textbook economic inequality. But with COVID as the spark, the ticking bomb of economic inequality may soon go off in America’s greatest city. Things are changing and New York, and by extension America, needs to ask itself what it wants to be when it grows up. Killing the Host: How ... Hudson, Michael Best Price: $26.04 Buy New $32.95 (as of 11:40 UTC - Details)
It’s snapshot simple. The wealthy and the companies they work for pay most of the taxes. The poor consume most of the taxes through social programs. COVID is driving the wealthy and their offices out of the city. No one will be left to pay for the poor, who are stuck here, and the city will collapse in the transition. A classic failed state scenario.
New York City is home to 118 billionaires, more than any other American city. New York City is also home to nearly one million millionaires, more than any other city in the world. Among those millionaires some 8,865 are classified as “high net worth,” with more than $30 million each.
They pay the taxes. The top one percent of NYC taxpayers pay nearly 50 percent of all personal income taxes collected in New York. Personal income tax in the New York area accounts for 59 percent of all revenues. Property taxes add in more than a billion dollars a year in revenue, about half of that generated by office space.
Fictitious Capital: Ho... Durand, Cu00e9dric Best Price: $13.50 Buy New $18.18 (as of 03:43 UTC - Details) Now for how the other half lives. Below those wealthy people in every sense of the word the city has the largest homeless population of any American metropolis, which includes 114,000 children. The number of New Yorkers living below the poverty line is larger than the population of Philadelphia, and would be the country’s 7th largest city. More than 400,000 New Yorkers reside in public housing. Another 235,000 receive rent assistance.
That all costs a lot of money. The New York City Housing Authority needs $24 billion over the next decade just for vital repairs. That’s on top of a yearly standard operating cost approaching four billion dollars. A lot of the money used to come from Washington before a multibillion-dollar decline in federal Section 9 funds. So today there is a shortfall and repairs, including lead removal, are being put off. NYC also has a $34 billion budget for public schools, many of which function as distribution points for child food aid, medical care, day care, and a range of social services.
The budget for a city as complex as New York is a mess of federal, state, and local funding sources. It can be sliced and diced many ways, but the one that matters is the starkest: the people and companies who pay for New York’s poor are leaving even as the city is already facing a $7.4 billion tax revenue hit from the initial effects of the coronavirus. The money is there; New York’s wealthiest individuals have increased their net worth by $44.9 billion during the pandemic. It’s just not here. When Money Dies: The N... Adam Fergusson Best Price: $1.97 Buy New $10.08 (as of 10:10 UTC - Details)
New York’s Governor Andrew Cuomo has seen a bit of the iceberg in the distance. He recently took to MSNBC to beg the city’s wealthy, who fled the coronavirus outbreak, to return. Cuomo said he was extremely worried about New York City if too many of the well-heeled taxpayers who fled COVID decide there is no need to move back. “They are in their Hamptons homes, or Hudson Valley or Connecticut. I talk to them literally every day. I say. ‘When are you coming back? I’ll buy you a drink. I’ll cook. But they’re not coming back right now. And you know what else they’re thinking, if I stay there, they pay a lower income tax because they don’t pay the New York City surcharge. So, that would be a bad place if we had to go there.”
Included in the surcharge are not only NYC’s notoriously high taxes. The recent repeal of the federal allowance for state and local tax deductions (SALT) costs New York’s high earners some $15 billion in additional federal taxes annually.
Read the Whole Article


lewrockwell--2020-08-20--History Often Rhymes, Sometimes Repeats

History Often Rhymes, Sometimes Repeats

The Nika riots , Nika revolt or Nika sedition took place against Emperor Justinian I in Constantinople over the course of a week in 532 CE .
They were the most violent riots in the city ’ s history , with nearly half of Constantinople being burned or destroyed and tens of thousands of people killed .
I came across the story of these riots while watching a series of lectures by Ryan Reeves on Early and Medieval Church History .
The mirror to our time is uncanny .
First , the repeating part : the Roman and Byzantine Empires @ @ @ @ @ @ @ of the community , each supporting its own sports teams – particularly chariot racing .
In Constantinople there were four major factions , each team known by their colors .
The two strongest were the Blues and the Greens .
These associations were not merely focused on the sport ; they became a focal point for various social and political issues , the team association providing an outlet for the people where none otherwise existed .
In 531 some members of the Blues and Greens had been arrested for murder in connection with @ @ @ @ @ @ @ recent chariot race .
Relatively limited riots were not unknown at chariot races , similar to the football hooliganism that occasionally erupts after association football matches in modern times .
The murderers were to be executed , and most of them were .
Two escaped , one Blue and one Green .
Justinian , facing external pressure from the Persians , wanted to keep things calm in the city .
He decided to restart the games and to commute the sentences to imprisonment .
The people , however , wanted a full pardon @ @ @ @ @ @ @ the masses , Justinian was also unpopular with the nobles – having been removed from the civil service , they lost their power .
Further , Justinian ’ s legal reforms made it difficult for the nobles to hide their dirty deeds via obscure laws and rulings .
In any case , Justinian refused to pardon the two offenders .
The riots began on January 13 , 532 .
Justinian ’ s palace was next to the Hippodrome , and the crowds broke out : For the next five days , the palace @ @ @ @ @ @ @ started during the tumult resulted in the destruction of much of the city , including the city ’ s foremost church , the Hagia Sophia ( which Justinian would later rebuild ) .
The senators saw this as an opportunity to overthrow Justinian ; the rioters were likely controlled by members of the senate .
A new emperor was declared ; Justinian was ready to throw in the towel , with an escape route prepared .
This is where the repeating of history stops…certainly so far .
His wife , Theodora , talked @ @ @ @ @ @ @ “ Those who have worn the crown should never survive its loss .
Never will I see the day when I am not saluted as empress.
” She is also credited with adding , “ [ W ] ho is born into the light of day must sooner or later die ; and how could an Emperor ever allow himself to be a fugitive.
” Justinian responded , killing about 30,000 rioters .
He executed the replacement emperor and exiled the senators behind the riots .
It should be pretty clear – just @ @ @ @ @ @ @ we see the headlines from the last four years and specifically the last six months .
It even has sports right in the middle of it .
The Best of Bionic Mosquito

The Nika riots, Nika revolt or Nika sedition took place against Emperor Justinian I in Constantinople over the course of a week in 532 CE. They were the most violent riots in the city’s history, with nearly half of Constantinople being burned or destroyed and tens of thousands of people killed.
I came across the story of these riots while watching a series of lectures by Ryan Reeves on Early and Medieval Church History. The mirror to our time is uncanny.
First, the repeating part: the Roman and Byzantine Empires had associations based on suburbs or subdivisions of the community, each supporting its own sports teams – particularly chariot racing. In Constantinople there were four major factions, each team known by their colors. The two strongest were the Blues and the Greens.
These associations were not merely focused on the sport; they became a focal point for various social and political issues, the team association providing an outlet for the people where none otherwise existed.
In 531 some members of the Blues and Greens had been arrested for murder in connection with deaths that occurred during rioting after a recent chariot race. Relatively limited riots were not unknown at chariot races, similar to the football hooliganism that occasionally erupts after association football matches in modern times. The murderers were to be executed, and most of them were.
Two escaped, one Blue and one Green. Justinian, facing external pressure from the Persians, wanted to keep things calm in the city. He decided to restart the games and to commute the sentences to imprisonment. The people, however, wanted a full pardon. TR Byzantine Saint JUS... Check Amazon for Pricing.
In addition to being unpopular with the masses, Justinian was also unpopular with the nobles – having been removed from the civil service, they lost their power. Further, Justinian’s legal reforms made it difficult for the nobles to hide their dirty deeds via obscure laws and rulings.
In any case, Justinian refused to pardon the two offenders. The riots began on January 13, 532. Justinian’s palace was next to the Hippodrome, and the crowds broke out:
For the next five days, the palace was under siege. The fires that started during the tumult resulted in the destruction of much of the city, including the city’s foremost church, the Hagia Sophia (which Justinian would later rebuild).
The senators saw this as an opportunity to overthrow Justinian; the rioters were likely controlled by members of the senate. A new emperor was declared; Justinian was ready to throw in the towel, with an escape route prepared.
This is where the repeating of history stops…certainly so far. His wife, Theodora, talked him out of escaping, saying:
“Those who have worn the crown should never survive its loss. Never will I see the day when I am not saluted as empress.” She is also credited with adding, “[W]ho is born into the light of day must sooner or later die; and how could an Emperor ever allow himself to be a fugitive.”
Justinian responded, killing about 30,000 rioters. He executed the replacement emperor and exiled the senators behind the riots.
Conclusion
It should be pretty clear – just change a couple of names, and we see the headlines from the last four years and specifically the last six months. It even has sports right in the middle of it.
Reprinted with permission from Bionic Mosquito.
The Best of Bionic Mosquito


lewrockwell--2020-08-20--Zuckerberg, Facebook, & Three ‘Fact-Checkers’ Sued for Government Sponsored Censorship

How much of what you believe is going on within the world ’ s current events is actually true ?
Do you think you would make different decisions if your perception was missing important bits of information that change any given story ?
This is an important question right now , as much of what people think is happening comes from mainstream media or “ fact-checkers , ” and much of the time , it ’ s only a small piece to the story that doesn ’ t truly inform people .
Ongoing Facebook censorship is forcing the hand of @ @ @ @ @ @ @ the platform ’ s allowance of independent “ fact-checkers ” to decide what is true and not true on Facebook , and also for unjustly destroying the trust these organizations work for years to build .
What Happened : Children ’ s Health Defense , led by Robert F Kennedy Jr. , has sued Mark Zuckerberg , Facebook INC , and three “ fact-checkers ” ( SCIENCE FEEDBACK , POYNTER INSTITUTE , and POLITIFACT ) for censoring CHD ’ s content on Facebook .
CHD cited 1 ) FIRST AND FIFTH AMENDMENTS ( @ @ @ @ @ @ @ ( 15 U.S.C .
§ 1125 ( a ) ) ; 3 ) RICO FRAUD ( 18 U.S.C .
§ 1962 ) ; 4 ) DECLARATORY RELIEF as their official complaints .
As posted on the CHD website : Facebook acknowledges that it coordinates its censorship campaign with the WHO and the CDC .
While earlier court decisions have upheld Facebook ’ s right to censor its pages , CHD argues that Facebook ’ s pervasive government collaborations make its censorship of CHD a First Amendment violation .
The government ’ s role @ @ @ @ @ @ @ than its close coordination with CDC and WHO .
The Facebook censorship began at the suggestion of powerful Democratic Congressman and Intelligence Committee Chairman Representative Adam Schiff , who in March 2019 asked Facebook to suppress and purge internet content critical of government vaccine policies .
Facebook and Schiff use the term “ misinformation ” as a euphemism for any statement , whether truthful or not , that contradicts official government pronouncements .
The WHO issued a press release commending Facebook for coordinating its ongoing censorship campaign with public health officials .
That @ @ @ @ @ @ @ warning label ” on CHD ’ s page , which implies that CHD ’ s content is inaccurate , and directs CHD followers to turn to the CDC for “ reliable , up to date information.
” This is an important First Amendment case that tests the boundaries of government authority to openly censor unwanted critique of government .
Why It Matters : Many Facebook users are unaware that their perceptions about world events are manufactured by powerful interests and not facts .
While people utilize news platforms and social media to get @ @ @ @ @ @ @ t have the time nor take the action of verifying the claims from any news source .
Mainstream media is often blindly trusted , and anything on Facebook labeled as ‘ false ’ is filed away in the mental category of “ never trust this website or other stories of this same topic.
” These perceptions then inform the decisions people make in their lives .
Everything from what politicians to support , what products are safe , whether to vaccinate their children , and so on .
Are we allowing powerful corporations @ @ @ @ @ @ @ and belief in certain ideas to regulate what information is true ?
Can we honestly say that our beliefs and perceptions around certain current events are grounded in facts ?
Have we been told all the facts ?
Or are some left out due to censorship ?
The fact that Science Feedback is on this list is somewhat a personal pleasure for me , as here at CE we have dealt a great deal with the ‘ fact-checking ’ company .
They happen to be an organization that all too often uses the @ @ @ @ @ @ @ material .
They look at a piece of content they wish to censor , they then create a claim that isn ’ t said in the content but relates to the content ’ s subject , then they proceed to debunk the claim they created .
The end result is a grey box on Facebook covering the news content and claiming it ’ s false .
This immediately kills virality and casts a great deal of doubt over our work .
Since the vast majority of people don ’ t read fact-checking ‘ @ @ @ @ @ @ @ see that fact-checkers don ’ t actually debunk all stories , they simply make it appear that they do .
Fact-checkers have cost our company over a million dollars a year in revenue since 2017 , forcing us to have to lay off more than 70 % of our staff .
They ’ ve cut traffic to our website by over 90 % as well .
YouTube did the same on Jan 1st 2018 when they shut off traffic to our videos .
Google also virtually shut off our search engine traffic on @ @ @ @ @ @ @ in the graph below .
Prior to this period , they had already been declining our search traffic .
This was the most drastic shut-off .
The results of a coordinated effort from major tech companies to censor our work has made it incredibly difficult to provide the trusted high-value service we worked for over a decade to build .
Since all of this , we have created our own platform called CETV that is the primary means by which viewers/readers can support our work .
Don ’ t Burn This ... Rubin @ @ @ @ @ @ @ Buy New $ 16.20 We will continue to update you with what happens with this court case as it proceeds .
The ‘ war on consciousness ’ and public perception has been ongoing for years , but seems to be culminating as shadow government powers are exposed over the course of time .
This public awakening to what happens behind the scenes in our world is a powerful and primary process in the overall evolution of humanity ’ s consciousness .
As we expose and do away with a world built on separation @ @ @ @ @ @ @ awaken to a consciousness that wishes to create a world of unity , connection , and thrivability .
Understanding what ’ s going on here is all part of the process .

How much of what you believe is going on within the world’s current events is actually true? Do you think you would make different decisions if your perception was missing important bits of information that change any given story? This is an important question right now, as much of what people think is happening comes from mainstream media or “fact-checkers,” and much of the time, it’s only a small piece to the story that doesn’t truly inform people.
Ongoing Facebook censorship is forcing the hand of independent organizations who have had enough of the platform’s allowance of independent “fact-checkers” to decide what is true and not true on Facebook, and also for unjustly destroying the trust these organizations work for years to build.
What Happened: Children’s Health Defense, led by Robert F Kennedy Jr., has sued Mark Zuckerberg, Facebook INC, and three “fact-checkers” (SCIENCE FEEDBACK, POYNTER INSTITUTE, and POLITIFACT) for censoring CHD’s content on Facebook. CHD cited 1) FIRST AND FIFTH AMENDMENTS (BIVENS); 2) LANHAM ACT (15 U.S.C. § 1125(a)); 3) RICO FRAUD (18 U.S.C. § 1962); 4) DECLARATORY RELIEF as their official complaints. Burning the Books: A H... Ovenden, Richard Buy New $29.95 (as of 11:50 UTC - Details)
As posted on the CHD website:
Facebook acknowledges that it coordinates its censorship campaign with the WHO and the CDC. While earlier court decisions have upheld Facebook’s right to censor its pages, CHD argues that Facebook’s pervasive government collaborations make its censorship of CHD a First Amendment violation. The government’s role in Facebook’s censorship goes deeper than its close coordination with CDC and WHO. The Facebook censorship began at the suggestion of powerful Democratic Congressman and Intelligence Committee Chairman Representative Adam Schiff, who in March 2019 asked Facebook to suppress and purge internet content critical of government vaccine policies. Facebook and Schiff use the term “misinformation” as a euphemism for any statement, whether truthful or not, that contradicts official government pronouncements. The WHO issued a press release commending Facebook for coordinating its ongoing censorship campaign with public health officials. That same day, Facebook published a “warning label” on CHD’s page, which implies that CHD’s content is inaccurate, and directs CHD followers to turn to the CDC for “reliable, up to date information.” This is an important First Amendment case that tests the boundaries of government authority to openly censor unwanted critique of government.
Why It Matters: Many Facebook users are unaware that their perceptions about world events are manufactured by powerful interests and not facts. While people utilize news platforms and social media to get their news, they often don’t have the time nor take the action of verifying the claims from any news source. Mainstream media is often blindly trusted, and anything on Facebook labeled as ‘false’ is filed away in the mental category of “never trust this website or other stories of this same topic.” These perceptions then inform the decisions people make in their lives. Everything from what politicians to support, what products are safe, whether to vaccinate their children, and so on.
Are we allowing powerful corporations, with direct interests in public acceptance and belief in certain ideas to regulate what information is true? Can we honestly say that our beliefs and perceptions around certain current events are grounded in facts? Have we been told all the facts? Or are some left out due to censorship?
The Real World Results of Censorship
The fact that Science Feedback is on this list is somewhat a personal pleasure for me, as here at CE we have dealt a great deal with the ‘fact-checking’ company. They happen to be an organization that all too often uses the ‘strawman claim’ to debunk our material. They look at a piece of content they wish to censor, they then create a claim that isn’t said in the content but relates to the content’s subject, then they proceed to debunk the claim they created. The end result is a grey box on Facebook covering the news content and claiming it’s false. This immediately kills virality and casts a great deal of doubt over our work. Since the vast majority of people don’t read fact-checking ‘debunks’, they never get to see that fact-checkers don’t actually debunk all stories, they simply make it appear that they do.
Fact-checkers have cost our company over a million dollars a year in revenue since 2017, forcing us to have to lay off more than 70% of our staff. They’ve cut traffic to our website by over 90% as well. YouTube did the same on Jan 1st 2018 when they shut off traffic to our videos.
Google also virtually shut off our search engine traffic on May 1, 2020, as seen in the graph below. Prior to this period, they had already been declining our search traffic. This was the most drastic shut-off.
The results of a coordinated effort from major tech companies to censor our work has made it incredibly difficult to provide the trusted high-value service we worked for over a decade to build. Since all of this, we have created our own platform called CETV that is the primary means by which viewers/readers can support our work. Don’t Burn This ... Rubin, Dave Best Price: $18.40 Buy New $16.20 (as of 03:44 UTC - Details)
The Takeaway
We will continue to update you with what happens with this court case as it proceeds. The ‘war on consciousness’ and public perception has been ongoing for years, but seems to be culminating as shadow government powers are exposed over the course of time. This public awakening to what happens behind the scenes in our world is a powerful and primary process in the overall evolution of humanity’s consciousness. As we expose and do away with a world built on separation, conflict, and ego, we awaken to a consciousness that wishes to create a world of unity, connection, and thrivability.
Understanding what’s going on here is all part of the process.
Reprinted with permission from Collective Evolution.


Gold Pressures Empire

Ian Fleming wrote Goldfinger for good reason .
The most important market in the world is gold .
Not US stocks .
Not shares in Amazon .
Not bitcoin .
Not Facebook .
Sovereigns use gold – real gold – as the foundation for their most important deals .
Now consider that 40 % of the world ’ s physical gold trade passes through bin Zayed ’ s United Arab Emirates .
The same United Arab Emirates that blundered Bush into the Dubai Ports World scandal .
The same UAE that hosts one of the largest US airbases in the @ @ @ @ @ @ @ Nahayan plutocracy that touts Israel as its closest friend and ally , beside the former United States .
But first , consider that the United States began weaponizing the US dollar as a matter of policy long before alleged criminal Treasury Secretary Mnuchin announced it .
Weaponization of the dollar is isolating the US in world trade , but as regime star Kushner noted , “ you can not turn a battleship around overnight.
” Collusion Prins , Nomi Best Price : $ 11.54 Buy New $ 11.29 The ‘ battleship ’ has @ @ @ @ @ @ @ disaster of the Nixon Shock , when the United States ‘ temporarily ’ abandoned the international gold standard thus heralding the ‘ permanent ’ era of central bank by-decree currency .
Fifty years hence , a new perfect storm of events may prove that the consequence of August 15th , 1971 must now be confronted .
During the Vietnam war the demand for US gold in exchange for US dollars could not be sustained .
Nixon ’ s cowardly act in closing the US gold window enabled the imperial hegemon to survive as @ @ @ @ @ @ @ US dollar being global reserve currency — but only temporarily .
Fifty years on , the piper must be paid .
Once again , the world is demanding gold in exchange for US dollars .
And the Federal Reserve ’ s primary dealers – some of which operate as bullion banks — are unable to comply .
Briefly , when a commodity exchange is unable to settle gold contracts by delivering the product to a buyer , the exchange must then settle the paper contracts in US dollars .
Historically the manipulators of @ @ @ @ @ @ @ speculating on gold contracts as derivatives , where no actual delivery of the commodity was ever intended .
As result , trading gold contracts has been a speculative operation engaged in by the major bullion banks where delivery seldom occurred .
* But when the demand for gold is real , settling gold contracts in US dollars bears little relation to holding the metal itself .
Contracts settled in dollars are worth less than the actual commodity .
That ’ s because the published spot price for gold is lower than the price @ @ @ @ @ @ @ .
This is called contango and has amplified the demand for settlement in real gold called EFP , or Exchange for Physical .
The Tyranny of the Fed ... O'Brien , Brian Best Price : $ 16.00 Buy New $ 16.99 Before COVID and since the repo crisis of 2019 the stability and safety of the US financial system has increasingly come into focus .
The US financial system has been forced to lower real interest rates to real negative territory , causing gold to look more attractive than holding increasingly worthless US @ @ @ @ @ @ @ when the US dollar has none .
Instead of a classic store for inflationary dollars , the new demand for settlement in real bullion threatens the existence of the US gold exchange ( COMEX ) and threatens serious financial loss for the largest global players , including HSBC , JP Morgan , and UBS .
Even Goldman Sachs has warned of this threat .
So… what has changed ?
It appears that some new element is at work .
As explored in a prior article , the US regime ’ s new cold @ @ @ @ @ @ @ to re-assess its relationship to US assets .
China began divesting itself of US debt instruments in 2019 .
And , seldom reported in the west , China has recently escalated its effort to divest itself of US public debt ( Treasury ) holdings in 2020 .
In tandem with improved convertibility of the yuan ( CNY ) intel sources indicate that China may be the second largest holder of gold globally .
Likewise , China may be using gold as a medium of exchange to avoid the aforesaid weaponization of the US @ @ @ @ @ @ @ regime .
Even so , the foregoing does not fully explain the events we are seeing .
Traditionally the Federal Reserve and their dealers have controlled gold to limit central bank losses and prevent gold from effectively competing with or displacing the US dollar as a primary trusted monetary medium .
But someone or some entity somewhere is now battling the US central bank for that control .
Bottom line , monetary realists as observers still don ’ t understand why the historic central bank market manipulation of gold is presently failing .
@ @ @ @ @ @ @ price of gold or face catastrophic losses that will cause an escalating downward spiral in the standing of the US dollar .
Mises on Money Gary North Best Price : $ 7.90 Buy New $ 9.00 We can only return to the concept of flailing Empire .
The United Arab Emirates trades in illegal gold from Africa and has used its influence via the gold carry trade and elsewhere as an essential tool to support the corrupt western banking empire that the United States and Israel represent .
Now the major media touts @ @ @ @ @ @ @ former United States , and Israel as elements of an aligned geopolitical bloc .
The intention is to somehow portray these powers as moral and worthy of respect when in fact they are not .
The United States , Israel and UAE present a divisive bloc removed from any real notion of an efficient global hegemon .
As we see , these powers are exposed and vulnerable to gold ’ s economic reality , the reality that no corrupt power favoring warfare and division can rule forever when its currency is severely devalued @ @ @ @ @ @ @ , argue , ignore , or deny it… the golden rule , “ He who hath the gold rules ” is as true now as it has ever been .
The problem arises when that being of real value is supplanted by illusion .
And it is only the illusion we have seen since August , 15th , 1971 .
Fifty years on the reality has yet to play out .
But that which is of real value will always trump fakery in the long run , regardless of what paper traders and @ @ @ @

Ian Fleming wrote Goldfinger for good reason. The most important market in the world is gold. Not US stocks. Not shares in Amazon. Not bitcoin. Not Facebook. Sovereigns use gold – real gold – as the foundation for their most important deals.
Now consider that 40% of the world’s physical gold trade passes through bin Zayed’s United Arab Emirates. The same United Arab Emirates that blundered Bush into the Dubai Ports World scandal. The same UAE that hosts one of the largest US airbases in the Middle East… and the very same al Nahayan plutocracy that touts Israel as its closest friend and ally, beside the former United States.
But first, consider that the United States began weaponizing the US dollar as a matter of policy long before alleged criminal Treasury Secretary Mnuchin announced it. Weaponization of the dollar is isolating the US in world trade, but as regime star Kushner noted, “you cannot turn a battleship around overnight.” Collusion Prins, Nomi Best Price: $11.54 Buy New $11.29 (as of 05:02 UTC - Details)
The ‘battleship’ has been turning for fifty years since the disaster of the Nixon Shock, when the United States ‘temporarily’ abandoned the international gold standard thus heralding the ‘permanent’ era of central bank by-decree currency. Fifty years hence, a new perfect storm of events may prove that the consequence of August 15th, 1971 must now be confronted.
During the Vietnam war the demand for US gold in exchange for US dollars could not be sustained. Nixon’s cowardly act in closing the US gold window enabled the imperial hegemon to survive as geopolitical bully on the basis of the US dollar being global reserve currency — but only temporarily. Fifty years on, the piper must be paid.
Once again, the world is demanding gold in exchange for US dollars. And the Federal Reserve’s primary dealers – some of which operate as bullion banks — are unable to comply. Briefly, when a commodity exchange is unable to settle gold contracts by delivering the product to a buyer, the exchange must then settle the paper contracts in US dollars.
Historically the manipulators of the monetary metal played along happily, speculating on gold contracts as derivatives, where no actual delivery of the commodity was ever intended. As result, trading gold contracts has been a speculative operation engaged in by the major bullion banks where delivery seldom occurred. *
But when the demand for gold is real, settling gold contracts in US dollars bears little relation to holding the metal itself. Contracts settled in dollars are worth less than the actual commodity. That’s because the published spot price for gold is lower than the price at which the physical metal actually trades. This is called contango and has amplified the demand for settlement in real gold called EFP, or Exchange for Physical. The Tyranny of the Fed... O'Brien, Brian Best Price: $16.00 Buy New $16.99 (as of 04:50 UTC - Details)
Before COVID and since the repo crisis of 2019 the stability and safety of the US financial system has increasingly come into focus. The US financial system has been forced to lower real interest rates to real negative territory, causing gold to look more attractive than holding increasingly worthless US dollars, since gold has intrinsic value when the US dollar has none .
Instead of a classic store for inflationary dollars, the new demand for settlement in real bullion threatens the existence of the US gold exchange (COMEX) and threatens serious financial loss for the largest global players, including HSBC, JP Morgan, and UBS. Even Goldman Sachs has warned of this threat.
So… what has changed? It appears that some new element is at work. As explored in a prior article, the US regime’s new cold war versus China has caused that country to re-assess its relationship to US assets. China began divesting itself of US debt instruments in 2019. And, seldom reported in the west, China has recently escalated its effort to divest itself of US public debt (Treasury) holdings in 2020.
In tandem with improved convertibility of the yuan (CNY) intel sources indicate that China may be the second largest holder of gold globally. Likewise, China may be using gold as a medium of exchange to avoid the aforesaid weaponization of the US dollar so favored by the current US regime. Even so, the foregoing does not fully explain the events we are seeing.
Traditionally the Federal Reserve and their dealers have controlled gold to limit central bank losses and prevent gold from effectively competing with or displacing the US dollar as a primary trusted monetary medium. But someone or some entity somewhere is now battling the US central bank for that control.
Bottom line, monetary realists as observers still don’t understand why the historic central bank market manipulation of gold is presently failing. The US Central Bank must suppress the price of gold or face catastrophic losses that will cause an escalating downward spiral in the standing of the US dollar.
Mises on Money Gary North Best Price: $7.90 Buy New $9.00 (as of 05:45 UTC - Details) We can only return to the concept of flailing Empire. The United Arab Emirates trades in illegal gold from Africa and has used its influence via the gold carry trade and elsewhere as an essential tool to support the corrupt western banking empire that the United States and Israel represent. Now the major media touts the visible association of the UAE, former United States, and Israel as elements of an aligned geopolitical bloc. The intention is to somehow portray these powers as moral and worthy of respect when in fact they are not.
The United States, Israel and UAE present a divisive bloc removed from any real notion of an efficient global hegemon. As we see, these powers are exposed and vulnerable to gold’s economic reality, the reality that no corrupt power favoring warfare and division can rule forever when its currency is severely devalued and global trade is impacted.
Regardless, argue, ignore, or deny it… the golden rule, “He who hath the gold rules” is as true now as it has ever been. The problem arises when that being of real value is supplanted by illusion. And it is only the illusion we have seen since August, 15th, 1971. Fifty years on the reality has yet to play out. But that which is of real value will always trump fakery in the long run, regardless of what paper traders and central bankers say.
Originally published on The Duran.


lewrockwell--2020-08-20--Cancel Culture Comes Home: the Forks Cafeteria in Wake Forest, North Carolina

I have written previously about the very real dangers of what is called “ cancel culture.
” Indeed , what we have—what we see and experience today in the United States is a massive attempt , increasingly successful , to not just inhibit the rights of more conservative and right-leaning citizens from expressing their views , but to “ doxx ” them , get them fired from their jobs , publicly shame them , instill in them fear to effectively shut them up completely .
This is happening not only on our college and university campuses , controlled almost in @ @ @ @ @ @ @ excessively about “ our democracy ” while doing their damnedest to suppress it , but also generally in society .
( Again , I ask—demand—to know why our conservative legislators continue to throw millions in taxpayer money at these bloated , overpaid excuses for Marxist indoctrination camps ? )
The increasing instances of suppression are to say the least deeply deleterious to whatever future this American republic might have .
When you have as many as one third , maybe one half , of the persons in these United States now whipped up @ @ @ @ @ @ @ with a desire to ban and repress and punish their fellow Americans—when you have local and state governments seemingly paralyzed by , if not supportive of the anarchic chaos in dozens of American cities—when you have a news media in its near totality abetting this process and purposely shaping ( and suppressing ) the news to reflect an extreme revolutionary agenda—when most of the Internet and tech industry monopoly zealously undergird this process and censor opposing voices , then can the real fate of “ our democracy ” be secure ?
Are not @ @ @ @ @ @ @ in school—hatred , actually engaged in a form of projection when they talk about equality , democracy , racism and bigotry : guilty of the very same things they accuse others of ?
Mises on Money Gary North Best Price : $ 7.90 Buy New $ 9.00 All this was recently brought home locally in Wake Forest , North Carolina .
Wake Forest , once a small college town and still the seat of Southeastern Baptist Seminary , from its tradition as a desirable small town about fifteen miles north of Raleigh to @ @ @ @ @ @ @ ” community of nearly 45,000 , is host to a large branch of the North Carolina Sons of Confederate Veterans ( SCV ) , the 47th Regiment NC Troops , Camp 166 .
The local SCV has been very active there , civically and publicly-mindedly , for nearly thirty years participating in everything from the local Christmas parade to support for Adopt-a-Highway and Tri-Area Ministries programs .
Then came last week like a bolt of lightning out of the blue , one more insane effect of cancel culture , an example of the @ @ @ @ @ @ @ seems to possess so many of our fellow citizens .
For twenty-eight years the 47th Regiment NC Troops Camp has been meeting at The Forks Cafeteria & Catering in downtown Wake Forest , in one of the Forks ’ private conference/dining rooms , without any adverse incidents at all .
Indeed , a state divisional SCV meeting was held there a few years ago ( again , with no problems at all ) .
But this past week David Greenwell , the owner of The Forks , notified the SCV that it could @ @ @ @ @ @ @ represented “ hate and racism , ” even though he could not cite even one example where such “ hate and racism ” were on display .
Indeed , he admitted : “ I have never had any problem with the group at all .
They were always nice and friendly.
” Beyond Woke Michael Rectenwald Buy New $ 19.99 This in microcosm is where we are in society today—this is what has happened and is happening to our culture .
While too many of our folks , regular citizens who work and @ @ @ @ @ @ @ watch , our traditions , our heritage , our beliefs and values , the very symbols we honor are uprooted , spat upon , defiled…and we are told to shut up or else , or else face the bitter effects of cancel culture .
But this can not continue without end .
Either we stand up and oppose this destructive and devastating frenzy , or we will simply disappear into the bowels of history , perhaps to be cursed by our grand-children to whom we leave the barren desert of the Gulag .

I have written previously about the very real dangers of what is called “cancel culture.” Indeed, what we have—what we see and experience today in the United States is a massive attempt, increasingly successful, to not just inhibit the rights of more conservative and right-leaning citizens from expressing their views, but to “doxx” them, get them fired from their jobs, publicly shame them, instill in them fear to effectively shut them up completely. This is happening not only on our college and university campuses, controlled almost in their entirety by totalitarian leftists who talk excessively about “our democracy” while doing their damnedest to suppress it, but also generally in society. (Again, I ask—demand—to know why our conservative legislators continue to throw millions in taxpayer money at these bloated, overpaid excuses for Marxist indoctrination camps?)
The increasing instances of suppression are to say the least deeply deleterious to whatever future this American republic might have. When you have as many as one third, maybe one half, of the persons in these United States now whipped up fanatically into a vicious ideological frenzy, with a desire to ban and repress and punish their fellow Americans—when you have local and state governments seemingly paralyzed by, if not supportive of the anarchic chaos in dozens of American cities—when you have a news media in its near totality abetting this process and purposely shaping (and suppressing) the news to reflect an extreme revolutionary agenda—when most of the Internet and tech industry monopoly zealously undergird this process and censor opposing voices, then can the real fate of “our democracy” be secure? Are not the extremists, with their unbridled—and learned in school—hatred, actually engaged in a form of projection when they talk about equality, democracy, racism and bigotry: guilty of the very same things they accuse others of? Mises on Money Gary North Best Price: $7.90 Buy New $9.00 (as of 05:45 UTC - Details)
All this was recently brought home locally in Wake Forest, North Carolina. Wake Forest, once a small college town and still the seat of Southeastern Baptist Seminary, from its tradition as a desirable small town about fifteen miles north of Raleigh to its present condition as a “bedroom” community of nearly 45,000, is host to a large branch of the North Carolina Sons of Confederate Veterans (SCV), the 47th Regiment NC Troops, Camp 166. The local SCV has been very active there, civically and publicly-mindedly, for nearly thirty years participating in everything from the local Christmas parade to support for Adopt-a-Highway and Tri-Area Ministries programs.
Then came last week like a bolt of lightning out of the blue, one more insane effect of cancel culture, an example of the lunacy, the real ideological sickness that seems to possess so many of our fellow citizens. For twenty-eight years the 47th Regiment NC Troops Camp has been meeting at The Forks Cafeteria & Catering in downtown Wake Forest, in one of the Forks’ private conference/dining rooms, without any adverse incidents at all. Indeed, a state divisional SCV meeting was held there a few years ago (again, with no problems at all). But this past week David Greenwell, the owner of The Forks, notified the SCV that it could no longer meet there because the organization represented “hate and racism,” even though he could not cite even one example where such “hate and racism” were on display. Indeed, he admitted: “I have never had any problem with the group at all. They were always nice and friendly.” Beyond Woke Michael Rectenwald Buy New $19.99 (as of 11:37 UTC - Details)
This in microcosm is where we are in society today—this is what has happened and is happening to our culture. While too many of our folks, regular citizens who work and raise families, sit by and indifferently watch, our traditions, our heritage, our beliefs and values, the very symbols we honor are uprooted, spat upon, defiled…and we are told to shut up or else, or else face the bitter effects of cancel culture.
But this cannot continue without end. Either we stand up and oppose this destructive and devastating frenzy, or we will simply disappear into the bowels of history, perhaps to be cursed by our grand-children to whom we leave the barren desert of the Gulag.
Reprinted with the author’s permission.