Gold has always been the bane of big government planners. The precious metal has, from time immemorial, constituted real and portable wealth. Diamonds have, too, but expertise is required to judge the value of a small bag of diamonds. Gold is valuable in an utterly predictable and consistent way.
Secret Federal Reserve System data released December 1 reveals that the banking cartel (the Fed and its member banks) bailed itself out to the tune of more than $10 trillion in “emergency” funds, with trillions more going to line the pockets of big European and foreign banks.
Last year, conservative pundit Glenn Beck warned his viewers to stock up on clothing for their kids, as he predicted that the price of cotton would increase dramatically. As usual, he was mocked mercilessly for his assertions. Recently, however, a report from the National Inflation Association announced that the cost of cotton has increased by 54 percent, though the huge commodity price increase hasn't made its way onto the shelves of American stores just yet.
While average Americans have seen their wages and benefits stagnate, decrease, or even vanish altogether in recent years, federal workers have been doing very well for themselves. In August USA Today reported that “federal employees’ average compensation has grown to more than double what private sector workers earn” and that these same “workers have been awarded bigger average pay and benefit increases than private employees for nine years in a row.
Over the recent clamor of approval for the outcome of the Troubled Asset Relief Program (TARP), which Beltway insiders are proclaiming a success because of the high rate of repaid funds, a lone voice of comparative sanity reminded Yahoo! Finance’s Aaron Task that the Obama bailout has done far more damage than the government-massaged figures indicate. Nobel Prize-winning economist Joseph Stiglitz, who seems to understand finance and banking better than most celebrity economists, told Task that the monies paid back to TARP are “just a drop in the bucket compared to damage done to the economy.”