Marcus Aurelius: Superficial Cuts at Defense

03 Economy, 07 Other Atrocities, Budgets & Funding, Corruption, DoD, Government, Military
Marcus Aurelius

There is a lot of waste in the defense budget, much of it inserted by Congress for pork reasons, but DoD is also used to mask many other non-Defense programs, not just intelligence but in energy, health, foreign aid, etcetera.  Breaking the bargain with military retirees on health care is both a major betrayal, and a window into an alternative, a national health care service that does not pay full price for pharmaceutical that rarely work.

Deficit Cutters Look To Pentagon Budget

By Donna Cassata, Associated Press

WASHINGTON–One war is done, another is winding down and the calls to cut the deficit are deafening. The military, a beneficiary of robust budgets for more than a decade, is coming to grips with a new reality — fewer dollars.

The election accelerated an already shifting political dynamic that next year will pair a second-term Democratic president searching for spending cuts with tea partyers and conservatives intent on preserving lower tax rates above all else, even if it means once unheard of reductions in defense.

President Barack Obama and Congress have just a few weeks to figure out how to avert the automatic cuts to defense and domestic programs totaling $110 billion next year. Those reductions are part of the so-called fiscal cliff of expiring Bush-era tax cuts and the across-the-board cuts that Defense Secretary Leon Panetta has warned would be devastating to the military.

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Gold Transformer: Has US Stolen German Gold? Will This Break German Bank? Does This Make IMF Chicago Plan Revisited a “Must Do”?

03 Economy, Commerce, Commercial Intelligence, Corruption, Government
Gold Transformer

Germany financial architecture is under stress. If Germany fractures, Euro is gone. Could the US alleged theft of 1500 metric tons of German gold be part of the problem? Could this make the IMF August 2012 working group memorandum on The Chicago Proposal Revisited a “must do”?

7 Nov 2012  Does Anyone Really Know How Much Gold Is Held By The World's Central Banks?

7 Nov 2012  Where's The Gold?

5 Nov 2012  German gold reserves stored in NY Fed Reserve in safe hands – Dombret

31 Oct 2012  Golden Haarp & Allocated Gold Exposure

31 Oct 2012  More And More Germans Want Their Gold Back

31 Oct 2012  Why do the Germans want their gold back?

22 Oct 2012   FLASH: German gold report reveals secret sales that likely were part of swaps

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Eagle: Colorado and Washington Legalize Marijuana

03 Economy, Civil Society, Cultural Intelligence
300 Million Talons…

States Right tio Legalize Marijuana

ETHAN NADELMANN, Drug Policy Alliance

USA TODAY, 7 November 2012

The decision of the voters in Washington and Colorado to legalize and regulate marijuana much like alcohol, and the passage of medical marijuana in Massachusetts balanced by rejection in Oregon and Arkansas, I believe, is the beginning of the end of Prohibition. This issue is also going to become a significant part of the growing trend of schism amongst the bio-regions, I believe.

Social progressives should step forward and say, “You know, you guys on the right are correct.” We too embrace states rights.

Washington State and Colorado made history tonight by becoming the first states in the United States – to approve the legal regulation of marijuana.

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Graphic: Automated Payment Transaction (APT) Tax

03 Economy, 11 Society, Ethics, Government, Office of Management and Budget
Click on Image to Enlarge

SHARE THIS WITH TINY URL  “APTNow”:  http://tinyurl.com/APTNow

Dummy Version:  Generates $4 trillion a year without borrowing and allowing the elimination of ALL other taxes beginning with personal income taxes.  Allows for the recapitalization of our labor pool, our domestic infrastructure, and our Department of Defense (450-ship Navy, long-haul Air Force, air-liftable Army, Marines back on the boats).

Formal Description and References Below the Line

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Gold Transformer: Romney Wins, Financial Melt-Down, and 2016

03 Economy, Civil Society, Commerce, Ethics, Government
Gold Transformer

James Quinn is one of my favorite writers of what is going on in America today.  I particularly like today’s write up.  It is thought provoking.  One can find similarities of Quinn’s message in the material of Jim Sinclair, Martin Armstrong and Bud Kress (died this year).

He makes an interesting projection that we will see a Romney win tomorrow…    While that is likely, it is equally likely that the major change comes in Martin Armstrong’s prediction with the election of 2016…

Will a Prophet Assume Command?

By James Quinn

Financial Sense, 5 November 2012

Strauss & Howe wrote these words in 1997. They had predicted the arrival of another Crisis in this time frame in their previous book Generations, written in 1990. This wasn’t guesswork on their part. They understood the dynamics of how generations interact and how the mood of the country shifts every twenty or so years based upon the generational alignment that occurs as predictably as the turning of the seasons. The last generation that lived through the entire previous Crisis from 1929 through 1946 has virtually died off. This always signals the onset of the next Fourth Turning. The housing bubble and its ultimate implosion created the spark for the current Crisis that began in September 2008, with the near meltdown of the worldwide financial system. Just as the stock market crash of 1929, the election of Lincoln in 1860, and the Boston Tea Party in 1773 catalyzed a dramatic mood change in the country, the Wall Street created financial collapse in 2008 has ushered in a twenty year period of agony, suffering, war and ultimately the annihilation of the existing social order.

Read full article.

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John Steiner: IMF Working Paper The Chicago Plan Revisited (Eliminate Debt to Banks, End Credit Leverage, Governments Control Money)

03 Economy, Economics/True Cost
Click on Image to Enlarge
John Steiner

Abstract: At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.

Working Paper at IMF Web Site

Safety Copy: IMF Chicago Plan Revisited

Phi Beta Iota:  The radical sensibility of this paper, which essentially ends the reign of financial terrorism by Goldman Sachs et al, certainly suggests that in 2011, when Dominique Strauss-Kahn was set up by a maid later found to have been paid, there was already a major schism between Wall Street and the IMF–or among the IMF member states.  The paper is breathtakingly brilliant, with all due credit to its antecedents, and we can only hope that the current head of the IMF, Christine Lagarde, will make this the centerpiece of her administration.  The other half is the Automated Payment Transaction Tax (APT), which not only doubles or triples government revenue, but also eliminates tax codes and other regulatory means by which legislatures and executives extort money

See Also:

IMF's epic plan to conjure away debt and dethrone bankers

Balanced Budget And Comprehensive Tax Reform Made Simple ? The Automated Payment Transaction Tax (Forbes.com, 28 October 2012)

Hotel releases CCTV of DSK chamber maid reporting ‘rape' to colleagues and their high-five at centre of ‘set-up' scandal

The Global Banking ‘Super-Entity’ Drug Cartel: The “Free Market” of Finance Capital

Goldman, Wall Street and Financial Terrorism