Mish Shedlock and I had a big laugh at the Fed's expense today. They announced they might buy bonds differently, printing up money out of thin air, and then sterilizing the proceeds of their bond purchases to prevent inflation from taking hold. However, this is pure folly. If their intention is to give business lending a jump-start, it will have the opposite effect because many businesses looking to borrow are not credit worthy. Those that are credit worthy aren't interested in borrowing since they have no profitable avenues in which to invest it.

Like putting the toothpaste back in the tube, the thought that somehow the Fed can print money, use it to monetize debt, and then stop the recipients of the new money from spending it is somewhat absurd. This hasn't worked before, and it won't work now. So sit back, buckle your seatbelt and enjoy the flight into the tumultuous financial skies. It's going to get quite turbulent, but having gold and silver might very well make the ride smoother. 

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Direct download: MIsh_Shedlock_03-07-2012.mp3
Category:general -- posted at: 11:31 PM
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The ever venerable Danielle Park joined us again today, 3/7/2012, to talk about the eroding rule of law and what it means to working people around the globe. While the future may always be uncertain, especially in these tumultuous times, there are many reasons to be hopeful and grateful that the super-trends of the past 30 years are ending. While growth may be slowing down around the world, the debt illusion has been popped. People are no longer rushing headlong into over leveraging their futures. We may once again become a nation of workers and savers, and what could possibly be wrong with that?

In the meantime, don't go looking for justice in all the wrong places. Don't you believe the medial slop-line that happy days are here again. It didn't work that way in the Great Depression, and it sure isn't working very well now. The debt stream-roller must run its course, and the key is to not allow yourself to be flattened. The problem with spending like there's no tomorrow is that there might be one, and soon. Then what are you going to do? Danielle give you her advice on that topic and more.

Please fill out the subscription box at KerryLutz.com to instantly receive your free Financial Survival Toolkit & weekly gold and silver newsletter.


Direct download: Danielle_Park.mp3
Category:general -- posted at: 7:20 PM
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Rush Limbaugh's insults and poor language towards a progressive poster child is still resonating. However, there isn't really a political debate occurring. Rather, it is simply emotional outrage masked as political discourse. This is exactly what's been wrong with the political system for the last 80 plus years: issues are no longer properly analyzed. The Statists have done their best to obfuscate the real debate because they have made every issue a personal attack.

The real debate is whether you should work for yourself or you should work for the State. Do your rights flow from nature? Or are your rights given to you by the government, like a teacher giving out gold stars to a class? If you believe the State is the fount of all rights, then you must admit that when you are offended, angry, or enraged, you want the State to make things right.  That means taking away the rights of others, such as their speech, property, and the right to pursue their own happiness.

Therefore, it really boils down to a debate between individual freedom and the authoritarian inclinations of the State. This is the great debate of our age and one that will eventually be addressed as economic collapses have a way of stripping things down to their basics.

Please fill out the subscription box at KerryLutz.com to receive your free Financial Survival Toolkit & weekly gold and silver newsletter.

Direct download: TLR_168.mp3
Category:general -- posted at: 4:20 PM
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