by: the Common Constitutionalist
We’ve all heard the term QE or Quantitative Easing. This is the third iteration of easing, jokingly coined as QE-Infinity. It is the demented idea of the Federal Reserve and in particular chairman Ben Bernanke.
For those unfamiliar with QE three, it is a program wherein the Fed purchases $85 billion of government debt; $45 billion in bonds and $40 billion in mortgage-backed securities. In a nutshell, unlike the other two QE’s, which were one-time massive influxes of money into the economy, and did no good, QE3 is a scheme that calls for the feds to spend that $85 billion every month. And that’s been happening month in and month out since September 2012.
Wow, the Federal Reserve must have a lot of money. Well, no… No it doesn’t and it doesn’t have to. None of this is real. That’s not quite accurate, but it’s close.
The Fed, in fact has no money. What it does have is a printing press. When it needs another $85 billion, it simply cranks up the press. Just like magic. No, not like magic. More like an illusion.
Actually, the way it works is simply this:
1. The Fed holds a meeting.
2. Those in the room decide how many more dollars they think the world needs.
- Someone walks over to a computer and adds that many dollars to the banks, with a few clicks of the keyboard.
The Fed spent more newly created money in just 15 months than it had created in its entire history up until 2008.
Have you been wondering why your money doesn’t seem to go as far as it used to? It’s not just your imagination; it doesn’t. The more money that’s out there floating around, the less it is worth.
Here is a scenario that may explain what the Fed is in fact doing to our economy. You are a manufacturer of widgets. Everything is going great until your patent runs out. All the sudden the market is flooded with widgets. Because everyone is now selling widgets it drives the price down due to the glut of product. The market reacts the same no matter what the product, whether it is widgets or dollars. It’s great for the consumer of widgets, but a glut of dollars simply decreases the buying power of the consumer.
You may have noticed there was a Fed meeting on Wednesday of this week. Okay, maybe you didn’t, but you probably noticed the stock market rocketing up 155 points that morning, then suddenly around 2 PM reversing itself and ending the day down some 87 points. That’s a 242-point swing. Why did it happen? The Fed merely hinted that it might consider tapering off it’s quantitative easing at some point. In other words, slowing the flow of easy money.
If I’m not mistaken the same thing happened last year and the stock market temporarily freaked out over it.
Everyone knows that Bernanke can’t keep this up forever. The presses will eventually have to stop, or at least slow. Bernanke is probably doing irreparable damage to our economy, but there’s no way to take that fake cash back. It’s driving down the value of the dollar, but it is propping up the stock market.
The Fed as well as the Wall Street “experts” claim that when they do start to taper off the easy money influx, the geniuses at the Fed will do it so slowly we will hardly notice. Really!
The jittery market swings in triple digits with just a sniff of a possible slowdown at some later date.
So what will really happen when the hose is finally pinched? Look out below!
It’s Time to Build the Keystone XL Pipeline
The Keystone XL pipeline is a line in the sand issue, dividing those who want to utilize our energy resources to create jobs and propel America toward economic growth and energy self-sufficiency and those whose sole goal is to stop the development of fossil fuels.
There doesn’t seem to be any middle ground, which is why it is so perplexing that President Obama has yet to make a decision on the project after weighing the issue for over four years.
The pipeline, if fully constructed, would be able to carry nearly a million barrels of oil per day, bringing supplies from the oil sands region of Alberta, Canada, as well as U.S. crude from the Bakken oil fields being developed in North Dakota and Montana.
A report from the Department of Energy estimates that the increased energy supplies and gains in energy efficiency could essentially eliminate U.S. dependence on Middle East oil.
This pipeline could tip the global oil market’s balance of power in North America’s favor, taking back this power from politically unstable regions of the world.
This is welcome, real progress for America. But progress for the environmental extremists is to hold back this opportunity and the power of our energy abundance through review, regulation and red tape.
Just as Keystone has become a rallying cry for environmentalists, it has also become a rallying cry for American workers.
Construction of the pipeline would support the creation of tens of thousands of jobs across several different sectors of the economy.
On the same day that many Americans were celebrating Israeli Independence Day, Paterson, New Jersey Mayor Jeffrey Jones named Sunday, May 19 “Palestinian-American Day” in his city, and a Palestinian flag was hoisted over Paterson’s City Hall.
Jones presented a city proclamation commemorating the event. Congressman Bill Pascrell, Jr. (D-NJ9) was also there for the flag raising. Pascrell presented a letter of Special Congressional Recognition, and New Jersey Assemblyman Thomas Giblin (D-NJ34) presented a ceremonial resolution marking the event.
Although the organizer of the event, Khader Abuassab, said he had received nasty phone and text messages prior to the event, the day went forward with no counter-demonstrations or public hostility. Approximately 120 people showed up, to dance, cheer and yell “long live Palestine,” according to NorthJersey.com, as reported in Jewish World Review.
WHO ORGANIZED THE EVENT?
Khader Abuassab is an unusual name – in fact, there is apparently only one listed in the United States: he resides in Paterson, New Jersey. Abuassab was the one who placed ads in Arabic newspapers about the Palestinian American Day celebration and he texted invitations to friends, community leaders, politicians and law enforcement officials. According to Abuassab, South Paterson is known as “little Ramallah,” and he felt it was important for the Arab Palestinian community to be recognized much like any other local ethnic community.
PATERSON PALESTIAN-AMERICAN DAY ORGANIZER ADVISED FOLLOWERS NOT TO COOPERATE WITH AUTHORITIES. HE ALSO DID PRISON TIME FOR MASSIVE CREDIT CARD FRAUD.
by: the Common Constitutionalist
Let’s not lose focus on the Benghazigate scandal.
To recap – Benghazi is not a singular event. It’s not just about the death of the ambassador and three others. It’s not just about why help was not sent or even where Obama was all that time.
Although these are important, the real scandal is what was going on in Benghazi and why was ambassador Stevens there in the first place and with very little security?
I believe, as do others smarter than me, that Stevens was running guns from Libya, through Turkey and to the “Rebels” in Syria. Others and I have contended this from the beginning. To clarify, most of the “Rebels” have turned out to be Al Qaeda or affiliated terrorist groups.
I also reported early on that we “conspiracy theorists” thought that Stevens was trying to possibly retrieve some of the weapons through Benghazi and Al Qaeda or a subgroup set him up and took him out.
Now we learn from an exclusive PJ Media report by Roger Simon that some very damning evidence may be revealed soon.
Keep in mind that the following reports are not official and may not turn out to be completely accurate.
It appears as if more whistleblowers may come forward to enlighten us further regarding the real scandal – why Stevens was in Benghazi. Benghazi as you may or may not know, was not a good place to just hang around, but evidently a good place to procure weapons.
It is being said that these whistleblowers will say that Stevens was in Benghazi to buyback Stinger missiles from Al Qaeda. Stinger missiles that are capable of downing military or civilian aircraft. Not the weapons you want in the hands of terrorists.
If reports are correct, they will also claim that the gunrunning was not being done through the CIA, but Hillary Clinton’s State Department.
It will be said the CIA did not want to provide these weapons to the terrorists but apparently Hillary Clinton personally authorized it.
So if Hillary new all about this operation guess who else had to have known? You got it, the King himself.
The whistleblowers apparently contend that the CIA director David Petraeus’ affair was leaked to silence him.
There are also reports that Gen. Carter Ham, head of AFRICOM (U.S. Africa command) had “special ops” teams that could have been in Benghazi in very short order. The claim is that he was ordered by the White House not to send them. When he decided to disobey the order, it is reported that his second in command was ordered by the White House to threaten him with removal.
You may ask if these whistleblowers will soon come forward, why speak to PJ media ahead of any possible public testimony?
Is it possible that they fear serious retribution ahead of the testimony? Might some tragedy befall them prior to it? Could be.
Frankly, the more we learn of this thuggish administration, anything is possible.
And that brings us back to our dear president who was apparently AWOL throughout this whole ordeal.
Remember, this happened on September 11, before the presidential election. One would think it important to show a sitting president as a strong and involved Commander-in-Chief.
Yet the then Sec-Def, Leon Panetta, publicly stated that he had but one meeting with Obama and didn’t see or hear from him again. Curious? Not really.
Even if just some of these assertions are true, Obama must be seen to be as far away from this thing as possible. He could not be in the situation room. He could in no way be seen to have his fingerprints on this. He had to be insulated. But if Hillary knew, he knew.
It is my belief that these four men were sacrificed to cover-up the gunrunning and buyback operations. My guess is that there was evidence at that location that could be discovered and when the “op” went bad, they pulled the plug and abandoned the SEALs and the ambassador.
For the good of the country, I sure hope we’re wrong.
by: the Common Constitutionalist
For most of our lives we’ve been taught that communism and fascism were the enemies of a free people, the enemies of America. That’s true, but only partially.
There is another. It’s called imperialism and for America directly, it has been historically far worse than communism or fascism.
Think about it. We have been involved in but two major wars where our homeland has been directly attacked. These attackers had two very important things in common. Actually, they were virtually identical.
They both were ruled by a monarch and both, for want of a better phrase, had a single state religion.
In Japan it was Shintoism and in England, Anglicanism. The religions mattered not for alternately one was forced to pay homage to a man; Japan’s Emperor and England’s King. If you didn’t like it, too bad for you.
In the case of Japan, we were just minding our business. Yeah, I know; Japan was allied with Nazi Germany. And I know; the oil blockade thing that starved Japan’s war machine. Okay, fine.
However, in the case of our founding, we originally were seeking religious freedom from England; the right to worship with whatever church we wished.
Well, England and particularly the crown would have none of that. How dare an English colony put anything before the King or be a member of any religion other than Anglican, the British state religion.
This is why pastors and preachers in America were targeted and why so many men of religion rose to prominence during our struggle for independence.
Of the 56 signers of the Declaration of Independence, 29 held seminary degrees or Bible school certification.
This will boil the blood of the separation of church and state crowd: Many state constitution ratifications took place in churches or church buildings. So much for separation.
Anyway, the crown despised the religious independents for they undermined the Kings ultimate authority.
Preachers and pastors would preach revolution from the pulpit. These ministers became leaders of their communities. They advocated for the right to private property.
The British Parliament even referred to our revolution as the “Presbyterian Revolt”.
Ministers would preach to the troops prior to battle. “… American victory had been ordained by God since the beginning of time”, Rev. William Emerson prior to the Battle of Lexington and Concord.
They were the moral motivators of the troops. Preachers actually led male members of their congregation in military drills after Sunday services. This gave rise to the term “Minutemen” for the congregation could be ready to take up arms in a “minute”.
Many of the church leaders were also leaders in government. Oh the horror! The British troops called these pastors “The Black Robe Regiment” for the black robes they wore preaching from the pulpit.
The British were well aware of the Ministers’ power. So much so that when the British road into a town one of the first things they did was to round up and capture the local pastor.
They were the conscience of the community and thus the young nation.
I liken them to today’s outspoken Tea Party members and local Tea Party organizers.
One can always tell whom a despotic regime fears most by the actions taken and rhetoric spoken against them, such as what happened to hundreds of Tea Party organizations prior to this past election.
The Imperial left of this administration fears the Tea Party as the British feared the “Black Robe Regiment” during the revolution.
So although it is prudent to be aware of the dangers of communism, fascism and Islamism, we must also be mindful to guard against imperialism. Not being attacked by another imperial nation, but the danger of allowing our own government to morph into a monarchy of sorts.
by: the Common Constitutionalist
We have been presented with the opportunity of a lifetime and that’s not hyperbole.
To paraphrase David Axelrod: the government is so “vast” it’s impossible to know what’s going on.
That’s probably the only intelligent thing he has ever uttered.
Well, he’s absolutely right. It’s gotten so large and out-of-control that it requires storm trooper like tactics to control the flow of the vast amount of money collected to run it.
Now we’ve learned that the collection department, the IRS, has been targeting groups that oppose the administration.
As an aside – if this scandal is what has surfaced, it’s a cinch there is much more that hasn’t. Just an observation.
Anyone who has been audited knows it may be the most stressful and painful experience this side of childbirth (or so I’ve heard). I thought the government was supposed to work for and be accountable to us, not the other way around.
So for this and a myriad of other reasons, the IRS should be abolished.
We on the right have been putting forth this tired refrain for decades, but there will never be a better chance than now to start advancing this notion.
We could learn a little from the left. “Never let a good crisis go to waste”. Well, this is a crisis we must not squander.
But the government needs money to operate, you say. You might add that without the threat of IRS persecution (and I do mean persecution), no one would ever pay their taxes.
Nonsense. Other than the most rabid antigovernment lunatics, virtually all citizens are willing to pay.
Most citizens just want the collection to be fair and transparent. The current system is neither (and that is deliberate). As Marco Rubio might say: “let’s bring those who do not pay taxes ‘out of the shadows’.”
The only truly fair and transparent tax is the consumption tax, not the flat tax. Yes, a national sales tax, but let’s not call it that. People already dislike sales taxes.
A flat tax is still based on income thus is not fair. Not everyone will pay and everyone should pay, at least a little. Skin in the game at all that.
One can still cheat the flat tax system by simply hiding their income. The consumption tax is fair and less apt to be corrupted. Black markets will only spring up if the rate is too high.
Of course the consumption tax would have to be an amendment, not just simply a law and take the place of the 16th amendment, which would have to be repealed first.
The consumption tax is also the epitome of a free-market system. It is also, with few exceptions, the only purely an absolutely voluntary tax. If you don’t wish to pay the tax, don’t purchase the item or service.
It would also take care of those pesky nonprofit tax-free organizations. No one would be tax-free because everyone and every organization must purchase things.
And how much money could corporations and organizations save by simply closing up K Street and not having to beg and bribe Congress for tax breaks?
Simply put, the lefty wizards of smart have admitted that the government has become too large to manage. They have also admitted that they are a bunch of bungling incompetents. Of course they did so, figuring no one will demand change. I’m sure they think; give it a couple of weeks and the scandals will be forgotten.
The current tax system is tyranny and the IRS tyrannical. However, impossible as the task may sound, it must commence sometime. As I stated; there may never be a better opportunity.
“Tyranny, like Hell, is not easily conquered, yet we have this consolation with us, that the harder the conflict, the more glorious the triumph”, Thomas Paine, 1776.
CBS News’ Sharyl Attkisson — last heard from explaining that although her bosses have been supportive of her Benghazi reporting, her network’s shows and producers don’t seem interested — has chased down another major scoop. This time, she quotes unnamed White House officials admitting that administration leaders determined they would not deploy a counterterror response team to Benghazi from the get-go:
The Foreign Emergency Support Team known as “FEST” is described as “the US Government’s only interagency, on-call, short-notice team poised to respond to terrorist incidents worldwide.” It even boasts hostage-negotiating expertise. With U.S. Ambassador Christopher Stevens reported missing shortly after the Benghazi attacks began, Washington officials were operating under a possible hostage scenario at the outset. Yet deployment of the counterterrorism experts on the FEST was ruled out from the start. That decision became a source of great internal dissent and the cause of puzzlement to some outsiders.
Thursday, an administration official who was part of the Benghazi response told CBS News: “I wish we’d sent it.” The official said Secretary of State Hillary Clinton’s deputy, Patrick Kennedy, quickly dispensed with the idea. A senior State Department official Thursday told CBS News, “Under Secretary Kennedy is not in the decision chain on FEST deployment” but would not directly confirm whether Kennedy or somebody else dismissed the FEST. [FEST leader] leader Mark Thompson says Benghazi was precisely the sort of crisis to which his team is trained to respond. While it was the State Department that’s said to have taken FEST off the table, the team is directed by the White House National Security Council.
So someone high up in the administration decided “from the start” that a FEST crew wouldn’t be sent to Benghazi, even though the team’s leader says his group was designed to handle exactly that sort of emergency. We don’t know who made the decision to shut down the FEST option, or why. These questions must be answered. The FEST chain of command resides inside the State Department and the White House. Attkisson reports that much like the Tripoli response team that was ordered to stand down twice, FEST members were shocked when their services weren’t required in Benghazi: Continue Reading