Week in Review

Quote of the week

“Ron Paul has been booed a few times in the Republican debates, primarily for saying things every expert knows and the whole world considers Americans slightly deranged for trying not to know.” – Thomas Woods

Notes From the Utah Monetary Summit

by Ron Hera

“Replacing a stable form of money with ever expanding debt and inflation undermines capitalism and destroys jobs. The monopolistic monetary system of the United States today is inherently inflationary because it must continually expand in order to prevent a deflationary collapse. The underlying structure and root cause of the monetary system’s inherent and inescapable inflationary bias is the legal construction of money as debt with no direct link to real economic activity. Debt levels in the economy and bank profits are simply out of line with reality.Replacing a stable form of money with ever expanding debt and inflation undermines capitalism and destroys jobs. The monopolistic monetary system of the United States today is inherently inflationary because it must continually expand in order to prevent a deflationary collapse. The underlying structure and root cause of the monetary system’s inherent and inescapable inflationary bias is the legal construction of money as debt with no direct link to real economic activity. Debt levels in the economy and bank profits are simply out of line with reality.” more…

Divided, We Stand

by Wendy McElroy

“Active skepticism toward anyone in power is a powerful protection of freedom. Today, that skepticism may seem to be in overdrive. Democrats feel betrayed by Obama and hate the GOP; Republicans view the Obama administration as an occupying power; tea partiers think everyone else is selling America into slavery; libertarians — well, they are libertarians. Americans are no less divided on the issues, from abortion to taxes, from war to health care, from entitlements to the war in Iraq. But how much of the current skepticism is aimed at government itself and how much is merely directed toward a particular slate of politicians or issues?” more…

Germany To Leave The Euro?

by Karl Denninger

“Germany is rumored to have ordered printing plates to resume printing Marks, and is intending to walk. This does make sense, although the Germans would have to find a way to shield their banks from the impact of a massive shift off the Europe and into the Mark by Germans, which would spike the Mark higher and positively trash the Euro’s value.” more…

Regulars

Other Stuff

And now the numbers…

DOW Jones Industrials – 10,913.38 (+141.90/1.32%)
S&P 500 – 1,131.42 (-5.01/-0.44%)
VIX – 42.96 (+1.71/4.15%)
CSI 300 (China) – 2,581.351 (-88.127/-3.30%)
BSE 500 (India) – 6,385.76 (+29.40/0.46%)
MICEX (Russia) – 1,366.54 (+39.35/2.96%)
BOVESPA (Brazil) – 52,324.42 (-905.94/-1.70%)
Nikkei 225 (Japan) – 8,700.29 (+140.03/1.64%)
RICI (Commodities) – 3,462.75 (-71.47/-2.02%)
Oil/bbl (Brent) – 102.76 (-1.21/-1.16%)
Corn/bu – 592.50 (-46.00/-7.20%)
Wheat/bu (CBT) – 609.25 (-31.50/-4.92%)
Rough Rice (CBOT) – 15.95 (-0.535/-3.25%)
Copper/lb – 315.20 (-12.80/-3.90%)
Gold/oz – 1,622.30 (-17.50/-1.07%)
Silver/oz – 30.083 (-0.018/-0.06%)
EUR-USD – 1.3388 (-0.0113/-0.84%)
USD-JPY – 77.0625 (+0.4542/0.59%)
USD-BRL – 1.8794 (+0.0455/2.48%)
NZD-USD – 0.7614 (-0.0152/-1.96%)
3 Month Treasury – 0.02 (+0.03/-300.00%)
2 Year Treasury – 0.24 (+0.02/9.09%)
10 Year Treasury – 1.92 (+0.09/4.92%)
30 Year Treasury – 2.91 (+0.01/0.34%)
3 Month LIBOR – 0.37 (+0.01/2.78%)
U.S. Public Debt (official) – 14,695,102,108,200.00 (-31,688,299,800.00/-0.22%)
Baltic Dry Index (BDIY:IND) – 1,899.00 (-21.00/-1.09%)

We made it to Albuquerque, and went out to the Balloon Fiesta yesterday. It was great seeing that again, and Little Bear absolutely loved it. Pictures will be coming on Facebook. Breakfast burritos were had by all, and we got our normal souvenir magnet, which is pretty much all of the souvenir buying we ever do. Been eating the green chile and visiting friends and family. I got to drive a backhoe yesterday too! Anyway, it’s back to work for me tomorrow though.

There’s not too much else going on. Check out the “Money as Debt” video above if you have never seen it. It should open your eyes. At that point you should also be able to understand why the “Utah declaration” above is so important. The monetary system, which was designed to turn the population into debt slaves, lies at the root of so many of the problems we see in the United States today. But check it out and make your own decisions, but at least understand it. Ah, and if you’re relying on your government education to tell yourself that you already understand it, then you probably don’t. So watch the video! :)

Okay, enough proselytizing. Have a great weekend!

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