Kerry Lutz's--Financial Survival Network

Those who do not learn from the past (and lets face it that's most of us) are condemned to repeat it. When I was 15 years old my parents made me read the biography of Charles Ponzi. They felt that if I learned about this scammer it would help protect me in the future, when I would hopefully make my fortune. What I learned from that book, is that if something is too good to be true, it generally is. While I can't say that I've never been scammed, I will say that I haven't been scammed too badly, other than by Wall Street. 

And this ties in perfectly with our current economic and social state of affairs. An article I read is calling the Treasury Market The Last Ponzi Scheme. The US Treasury Market is booming largely because of the financial turmoil in Europe. This has led to a rush to buy Treasury Securities as a so-called "safe haven." While this formula seems to be working right now, driving prices up and interest rates down, it won't last forever. The US Dollar is the best looking horse in the glue factory. When Europe is resolved, and it eventually will be, attention will turn back to the Buck and everything it stands for. And when people see there's nothing behind the curtain but a printing press, it will be game over. 

There's been a lot of controversy in the non-mainstream media concerning the latest iteration of the National Defense Authorization Act for Fiscal Year 2012, specifically the provisions of Senate Bill 1867 (Indefinite Detention). The law was passed by the full congress after several modifications concerning detention of enemy combatants. Without a full reading of the full statute, I too was alarmed, especially after it was passed with so little fanfare. However, this controversy appears to be much ado about nothing. A closer examination reveals that this is effectively a modification of the orginial Authorization to Use Military Force that was passed on September 18, 2011, in the aftermath of the 9-11 Attacks. The language of the statute deals directly with al Qaeda and Tale-ban members/associates. There appears to be nothing in the statute to expand it's applicability to members of FreeRepublic.com, RedState.com or other right thinking sites. While there certainly is a potential for abuse, as we have witnessed with the Patriot Act on numerous occasions, on its face this law doesn't appear to be the final death knell to the US Constitution. 

Please send your questions to kl@kerrylutz.com or call us at 347-460-LUTZ.