Gold and silver buyers could soon have to register with the state of Illinois.
Rick Santelli provides an update on legislation that requires every gold and silver transaction to be registered with the State. Here are the basics. The bill, officially called SB-3341, was introduced in 2012, immediately passed the Illinois Senate and is now awaiting action by the House. Click here for the latest status update on SB3341…
Do you feel the chain around your ankle? That’s called federal reserve notes. This is the central bankers’ business model: “Loan” money created out of nothing to governments which agree to hold their citizens liable for payment of the “debt,” then bribe, blackmail or murder enough politicians to ensure the government maintains a perpetual budget deficit. Perpetual war generates massive amounts of government debt, while having the added benefits of expanding the domain of the central bank’s currency and being able to demonize dissent as being unpatriotic.
The real kicker here is that the founders knew all about this issue. That’s why the constitution explicitly gave congress the right to “coin” (i.e. create) money. All this history has been lost from conventional american schooling. Time to rediscover our roots. Check out monetary.org.
We’re now borrowing to pay interest on what we’ve already borrowed.
In a decade, federal spending to pay for the interest on America’s debt will exceed total spending on the defense budget by $125 billion, or 20 percent, according to CBO. In fact, the interest payments are likely to be even higher, since these assumptions are based on the historically low interest rates remaining the same, which is not likely over the course of the next decade. “If interest rates rise just 1% point above baseline projections, the government would pay an additional $1 trillion in interest payments over ten years.”
Overall, Obama’s budget would increase federal spending 58% – from a budget size of $3.6 trillion today to $5.9 trillion in 2022.
It’s the military-industrial-central banking complex.