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Disasters Can Happen

Congress’s Radical Plan to End Illegal Money

by MN Gordon

Economic Prism

Illegal Money

One of the many downfalls of being the United States Secretary of the Treasury is the requirement to place one’s autograph on the face of the Federal Reserve’s legal tender notes.  There, on public display, is an overt record of a critical defect.  A signature endorsement of a Federal Reserve note by the Treasury Secretary represents their personal ratification of unconstitutional money.

If you recall, Article I, Section 8, of the U.S. Constitution empowers Congress – not the Federal Reserve – to coin money and regulate its value.  What’s more, Article I, Section 10, specifies that money be coined of gold and silver and cannot be bills of credit – such as paper legal tender notes.

As far as we can tell, paper dollars are illegal money on two counts.  First, they’re issued by the Federal Reserve.  (Read More....)

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No Free Lunches Be Damned

Americas-Freedomby MN Gordon

Economic Prism

“There ain’t no such thing as a free lunch,” is one of the essential axioms of economics.  No doubt about it, there’s no getting around this simple truth.  Everything has a price.

For example, even if someone buys you lunch the lunch still isn’t free.  The opportunity cost, your time to eat the lunch when you could’ve been doing something else, has a price.  In addition, even if you don’t consider your time a cost, there’s no denying the fact that someone paid for the lunch.  Hence, it wasn’t free.

Nonetheless, despite this simple fact, politicians promise free lunches for the many at the expense of the few.  This offense is especially on display during a presidential primary election.  (Read More....)

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Earthquake Economics

United-States-Helpby MN Gordon

Economic Prism

“The United States of America, right now, has the strongest, most durable economy in the world,” said President Obama, in his State of the Union address, on Tuesday night.  What performance metrics he based his assertion on is unclear.  But we’ll give him the benefit of the doubt.

Maybe this is so…right now.  But it isn’t eternal.  For at grade, hidden in plain sight, a braid of positive and negative surface flowers indicate an economic strike-slip fault extends below.  What’s more, the economy’s foundation dangerously straddles across it.

Something must slip.  A massive vertical rupture is coming that will collapse everything within a wide-ranging (Read More....)

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The End of the New Paradigm

Moneyby MN Gordon

Economic Prism

There is a pleasant mist in the air which conceals the depths of the disorder with earnest efficiency. Cavernous divergences exist between the financial economy and the real economy. Yet only the crankiest will speak of them.

The union in Europe was temporarily saved last Friday. Investors the world over cheered the relief. The DOW and S&P 500 closed out the week at record highs.

The big news was that the Greek bailout will be extended four more months. The fact that Greece will never pay back its creditors doesn’t matter for now. The clever program of extend and pretend has been preserved.

This is how things work in 2015. The world economy roles round and down with remarkable precision, borrowing (Read More....)

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Economic Blasphemy

Liesby MN Gordon Economic Prism

Last week the Bureau of Economic Analysis made a revision. You may have heard about it. According to the government statisticians, first quarter GDP didn’t decline at an annual rate of 0.1 percent as previously estimated.

Actually, when they re-counted the beans, first quarter GDP declined much, much more. In fact, based on the new estimate, first quarter GDP declined at an annual rate of 1 percent. What does this mean?

In short, it means the economy isn’t expanding…it’s contracting. And because the economy’s supported by massive amounts of debt it doesn’t take much of a contraction for the debt foundations along the margins to begin to crumble. Student loan and auto loan (Read More....)

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How American Government’s Supposed to Work

False Claims Act What is it and Who does it Impactby MN Gordon Economic Prism

It appears things are finally reversing course. After years of expanding, the bull market in government may have finally hit an inflection point. This is great news. For a reduction in the size of government compared to the overall economy will be beneficial to everyone.

Short term adjustments and restructuring will have to occur if the shutdown continues long enough. Federal workers will lose their jobs and will have to find new ones in the private sector. We won’t (Read More....)

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Did the Founding Fathers Distrust Banks?

Panic of 2008

Goldman Sachs. Citigroup. JP Morgan Chase. The names of America’s biggest banks have featured prominently in the media since 2008, when an unexpected financial crisis erupted within the heart of the economy. Confidence plummeted and lending shuttered amid (Read More....)

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